Find out more about Papaya Global Revenue ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a protected and dependable method of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Worker Portal provides employees with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to international staff members regardless of the number of staff members in the company. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source local benefits service providers in every country, create local accounts and have a minimum variety of staff members.
The HR abilities supplied by Worldwide HR include various functions such as monitoring vacation time, making sure compliance, helping with the process of inviting brand-new staff members and bidding farewell to leaving ones, offering a safe and secure online platform for keeping employees' files, and supplying assistance for work permit procedures in case your employees require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total work expenses dispersed per place, total work costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical proficiency in assisting massive populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for managing payroll techniques, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
company to make the time 100 list for many influential business on the planet we supply payroll payments and workforce management to all employee key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon great evening depending on where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've kind of had a range of various roles on the company side and likewise on the vendor side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everybody 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 sort of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really gloomy and I want I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll also review a wrap-up and that needs to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more typical and managing them becomes increasingly more intricate Global companies are wanting to find Solutions and new methods to improve procedures especially from a payroll and cross-border payment perspective numerous companies keep different bank account just for payroll while some have numerous accounts in different nations does it make sense for companies to preserve different savings account often in different nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies streamline the episode complex procedures of
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in enough in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most significantly policies compliance data security and banking rules then there are the sheer numbers they add more complexity the worldwide Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the traditional payroll model there's typically a frustrating number of various systems causing lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or really very standard there's no genuine consistency framework we're living in an era of tech however payroll has been sluggish 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 think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of an image they see an absence of exposure likewise reaches payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide services have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors badly communicated hires and terminations along with absence management and system configurations and then when you round it all off and the data is delivered to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they rely on the required numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're paying to employees or otherwise that's a great concern I constantly toss this back and say what is it what doesn't need to be included best and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames 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 client's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is definitely vital but everywhere 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 sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to kind of move on with that it likewise as well to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely important that payroll and financing groups work more detailed together than ever um I'm constantly astonished when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more crucial to add to kind of the level of complexity there's a growing number of benefits being organ or being used by companies throughout the world so once again you're just wanting to include increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine obstacles or genuine challenging sort of pay uses to play to pay people I think yeah I imply over the last well yeah a number of years I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they do not make them what they need to be in in an era of tech and a period that you know that we are operating in today there is no reason why we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single greatest liability that any company has from a cost viewpoint from an impact viewpoint on employees it is absolutely vital that it's done correctly and on time so what we imply 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 result on individuals's well-being and lots of other elements if people aren't paid uh I have actually constantly been amazed entering into this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this things is done properly so leveraging the very first International Payments very first payroll payment solution is a fantastic primary step um providing an end-to-end payroll solution for your staff members globally again I think is another huge um process again aligning and guaranteeing you have standardization International procedures all of those things are absolutely essential to success success of companies and reducing the variety of tools platforms and bank accounts they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I don't think any of us are in fact doing that for for the thanks
anyhow we know how how essential a role it is and that'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 easy as possible for everyone that's involved in those procedures and likewise so picture sorry I'm just I was just gon na state picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and really see what was going on and sort of shot to get back to everybody so moving on appearance why do business pick to primary different bank accounts there are organizations out there doing exactly this for particular nations and I have actually worked in a service or numerous organizations doing precisely that I can state it doesn't constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not producing extra work for anyone where we don't have to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the standard I think individuals have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs altering but eventually people are really stuck to what they recognize
with best um modification is a difficult thing all of us do not like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having preserving several savings account but there's a big quantity of intricacy opts for setting up a bank account preserving it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is big but I think the sincere response is change um individuals have not been able to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is understanding you know and there is an element of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could practically be identified to be the next Century or so there is a lot to keep an eye on and this method does posture several challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you should have a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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