Find out more about Papaya Global Office ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and trusted method of paying to our 10,000 employees worldwide.}
The cutting-edge international payroll management app streamlines my payroll procedure, conserving me a considerable amount of time monthly. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Worker Portal provides staff members with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Advantages Administration
Papaya Global assists companies offer competitive benefits packages to worldwide staff members regardless of the number of staff members in the company. The business can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source local advantages suppliers in every country, develop regional accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall work costs dispersed per location, overall work costs per cycle and far more.
Internationally, I have actually shown management and tactical competence in assisting large-scale populations of over 100,000 workers across 170 nations. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My role involves handling and developing external collaborations, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for many influential business in the world we offer payroll payments and labor force management to all employee types in over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon good night depending upon where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually type of had a range of various roles on the service provider side and also on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everyone 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 is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely very uninspiring and I want I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll also discuss a wrap-up which must leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being increasingly more common and handling them ends up being more and more complicated International organizations are wanting to find Solutions and new ways to improve processes particularly from a payroll and cross-border payment standpoint numerous companies maintain different savings account just for payroll while some have multiple accounts in various countries does it make good sense for business to maintain different bank accounts in some cases in various nations it does but just for payroll is there a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international business improve the episode complex procedures of
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a range of factors most importantly policies compliance information security and banking rules then there are the sheer numbers they add additional intricacy the global Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll model there's frequently an overwhelming variety of different systems causing lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or really extremely fundamental there's no real consistency framework we're living in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more a business invests in global payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide companies have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors badly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the information is shipped to the wrong location the average expense of a global data 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 depend on the required multiple 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 difficulties business face when they're making payments to employees or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't require to be consisted of best and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities 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 consumer's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is definitely crucial however all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to sort of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely essential that payroll and finance teams work more detailed together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to add to type of the level of complexity there's more and more benefits being organ or being offered by companies throughout the world so again you're simply aiming to include increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine obstacles or real difficult sort of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times 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 know that we are working in today there is no reason why we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any business has from a cost point of view from an impact perspective on employees it is definitely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant harmful effect on people's well-being and lots of other aspects if people aren't paid uh I have actually constantly been surprised coming into this Market sort of the last five to ten years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people only notice when things go wrong. However, when things go right, it's seen as just a regular job. This is how it's perceived externally also. Therefore, it is necessary to make sure that jobs like Wi-Fi International and other important matters are done correctly. Utilizing the very first Global Payments very first payroll payment service is a great initial step towards offering a comprehensive payroll solution for staff members worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and savings account essential for worldwide payroll are key consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as planned. Ultimately, we don't do it for the gratitude.
anyway 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 everybody that's involved in those processes and likewise so think of 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 speaking about hundreds of thousands potentially Millions picture getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of shot to get back to everybody so proceeding appearance why do companies pick to main separate savings account there are organizations out there doing exactly this for specific countries and I have actually operated in an organization or numerous companies doing exactly that I can say it does not always feel effective and it does produce more work I understand we're not intentionally doing that we're not producing additional work for any person where we don't need to and any person that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think many factors one is it's the standard I believe individuals have actually got so utilized to we need a new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I think this is a procedure that requires taking a look at it needs changing however eventually individuals are very stuck to what they recognize
with best um modification is a difficult thing we all do not like modification um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having maintaining numerous bank accounts but there's a huge amount of intricacy goes with setting up a bank account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is huge but I think the truthful answer is change um people have not been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to monitor and this technique does pose several challenges um so Johnny might you inform us about those difficulties yeah obviously so there's a variety right there is so
I just recently made a change to our Business 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 gotten another CFO, and with this boosted ability, I have successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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