Find out more about Papaya Global Monaco ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a protected and dependable technique of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Staff members have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive benefits bundles to international employees no matter the variety of employees in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional benefits suppliers in every nation, create local accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall work expenses dispersed per area, total work costs per cycle and much more.
environments across the globe I offered management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and structure external relationships supporting Business clients and services as well as acting as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past seven years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually kind of had a variety of different functions on the provider side and also on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very very uninspiring and I wish I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business preserve separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of preserving different savings account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of reasons most notably regulations compliance data security and banking rules then there are the large numbers they add further complexity the international Workforce is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the conventional payroll model there's typically a frustrating number of various systems leading to time-consuming manual procedures and silos the number of Integrations could be non-existent in large amounts and or really very basic there's no genuine consistency framework we're living in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a business invests in worldwide payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide organizations have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes inadequately communicated hires and terminations along with absence management and system configurations and then when you round it all off and the information is delivered to the wrong place the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they count on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business face when they're paying to employees or otherwise that's a great concern I always toss this back and state what is it what doesn't require to be included best and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to sort of progress with that it likewise also to add to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely vital that payroll and financing groups work better together than ever um I'm always astonished when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of important to add to kind of the level of complexity there's more and more benefits being organ or being used by organizations across the world so once again you're simply seeking to include more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real difficulties or genuine difficult type of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would certainly say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we operate in they just make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and an era that you understand that we are working in today there is no reason we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single greatest liability that any organization has from an expense viewpoint from an impact viewpoint on staff members it is absolutely crucial that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive effect on individuals's wellness and lots of other factors if individuals aren't paid uh I've always been amazed coming into this Market type of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people only see when things go wrong. However, when things go right, it's seen as simply a regular task. This is how it's perceived externally also. Therefore, it is essential to ensure that tasks like Wi-Fi Global and other crucial matters are done correctly. Utilizing the first International Payments first payroll payment solution is an excellent preliminary action towards offering a detailed payroll option for employees worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and checking account essential for worldwide payroll are key factors in achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as planned. Eventually, we do not do it for the appreciation.
anyhow we know how how important a role it is which's why we do it that's why we get on with it and this is why we're talking today about making it as simple as possible for everyone that's involved in those processes and also so imagine sorry I'm just I was just gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and in fact see what was going on and kind of shot to return to everyone so carrying on appearance why do companies pick to primary separate bank accounts there are services out there doing precisely this for particular nations and I have actually operated in a business or lots of organizations doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating extra work for any person where we don't have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I believe individuals have actually got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a variety I think this is a process that requires looking at it requires changing but ultimately people are extremely stuck to what they recognize
with ideal um modification is a challenging thing all of us don't like modification um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having preserving several savings account but there's a substantial amount of complexity opts for setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for specific people so the intricacy is huge but I think the honest answer is change um individuals haven't been able to change or have not had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter however we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century approximately there is a lot to monitor and this technique does pose a number of difficulties um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your achievements.
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