Find out more about Papaya Global Vanuatu ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a secure and reputable approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Employee Portal offers staff members with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits packages to global staff members no matter the number of workers in the business. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source regional advantages suppliers in every country, develop regional accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total employment expenses dispersed per place, overall employment costs per cycle and a lot more.
Internationally, I have demonstrated leadership and tactical know-how in assisting massive populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role includes handling and establishing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for many prominent business on the planet we offer payroll payments and workforce management to all employee enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent evening depending upon where you remain 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 been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I've type of had a variety of different roles on the company side and likewise on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating 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 everybody comes from and I truly 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 really dreary and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies keep separate
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of factors most notably policies compliance information security and banking rules then there are the sheer numbers they include further intricacy the worldwide Labor force is currently three 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 factor in that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll design there's typically a frustrating number of different systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in large amounts and or very extremely standard there's no genuine consistency framework we're living in a period of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind each time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more a service invests in international payroll the less of a picture they see a lack of exposure likewise reaches payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide companies have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors poorly communicated hires and terminations as well as absence management and system setups and after that when you round it all off and the information is shipped to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they count on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties company face when they're making payments to workers or otherwise that's a great concern I always toss this back and say what is it what doesn't require to be included best and what does
it require to be considered there's varying 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look best ultimately developing a knowledge base is absolutely important but everywhere you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type 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 technology is allowing us to kind of move forward with that it also as well to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is absolutely important that payroll and financing teams work better together than ever um I'm always astonished when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation 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 information collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on well-being and the compensation landscape is becoming progressively complex. Businesses are continuously presenting new benefits and payment options, which contributes to the overall intricacy. Large corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly advanced period, there's no reason for keeping troublesome treatments. Payroll, the company's biggest expenditure, need to be processed correctly and on time. Even small delays can adversely impact staff members' well-being and have significant repercussions. Therefore, it's important to focus on accurate and timely payments.
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just observe when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally too. Therefore, it is vital to make sure that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment solution is an excellent preliminary step towards supplying a thorough payroll service for staff members worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and savings account necessary for international payroll are key consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyhow we know how how important a function 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 associated with those procedures and likewise so picture sorry I'm just I was simply gon na state think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and type of shot to get back to everyone so moving on appearance why do companies select to main separate checking account there are businesses out there doing precisely this for specific countries and I have actually operated in a service or many services doing precisely that I can state it doesn't always feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for any person where we do not need to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous factors one is it's the requirement I believe people have got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I believe this is a procedure that needs looking at it needs altering however eventually individuals are extremely stuck to what they're familiar
with right um change is a hard thing we all do not like change um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having maintaining several bank accounts however there's a big quantity of complexity goes with establishing a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is big however I believe the sincere response is change um people haven't had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to change however we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could almost be determined to be the next Century or two there is a lot to keep track of and this technique does pose numerous challenges um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this improved ability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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