Find out more about Papaya Global Email Format ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and reputable approach of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Staff member Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax statements and work files. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to international employees no matter the number of workers in the company. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local advantages providers in every nation, develop regional accounts and have a minimum variety of workers.
The HR capabilities provided by Worldwide HR include different functions such as monitoring trip time, guaranteeing compliance, helping with the process of inviting new staff members and bidding farewell to departing ones, offering a safe online platform for saving employees' documents, and providing assistance for work allow treatments in case your employees require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall work costs distributed per area, total employment costs per cycle and much more.
Internationally, I have demonstrated management and tactical proficiency in guiding massive populations of over 100,000 staff members across 170 countries. Currently, I are accountable for managing payroll techniques, as pointed out by Mark. My function involves managing and developing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for most influential companies on the planet we supply payroll payments and labor force management to all staff member 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 introduce yourself of course thank you good morning excellent afternoon excellent night depending on where you are in the world it's beautiful to satisfy 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've remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I've sort of had a variety of various roles on the supplier side and also on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody 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 raining here it's very really dreary and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why business keep separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in sufficient in one country but when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of reasons most importantly policies compliance information security and banking rules then there are the large numbers they include additional complexity the international Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the conventional payroll model there's frequently an overwhelming number of various systems causing lengthy manual processes and silos the number of Combinations could be non-existent in large quantities and or really really fundamental there's no genuine consistency structure we're residing in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a service invests in worldwide payroll the less of a photo they see an absence of presence also extends to payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of global businesses have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and then when you round all of it off and the data is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they rely on the needed multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and state what is it what does not need to be included ideal and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy wherever you look right eventually developing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like super payments no if but some infants 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 absolutely basic and innovation is allowing us to type of move forward with that it likewise too to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work more detailed together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of important to add to type of the level of intricacy there's a growing number of advantages being organ or being provided by companies throughout the world so once again you're simply looking to add a growing number of payments to this currently intricate landscape so if you sort of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine challenges or genuine tough kind of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to develop extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and a period that you understand that we are working in today there is no reason that we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single most significant liability that any company has from an expense viewpoint from an impact viewpoint on workers it is absolutely vital that it's done correctly and on time so what we mean 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 result on people's wellness and lots of other factors if people aren't paid uh I have actually always been surprised entering this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment option is an excellent initial step um offering an end-to-end payroll service for your staff members globally once again I believe is another big um procedure once again aligning and guaranteeing you have standardization International procedures all of those things are absolutely crucial to success success of businesses and minimizing the variety of tools platforms and checking account they need for their Global payroll too could not 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 do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I do not think any of us are really doing that for for the thanks
anyhow we understand how how crucial a function 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 associated with those processes and likewise so imagine sorry I'm just I was simply gon na state think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job attempting to clean all those up for sure oh absolutely I can't picture 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 actually see what was going on and kind of try to get back to everybody so moving on appearance why do business select to main different checking account there are companies out there doing exactly this for particular countries and I have actually operated in a company or numerous services doing exactly that I can say it does not always feel efficient and it does create more work I know we're not purposely doing that we're not creating extra work for anybody where we don't have to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I believe individuals have got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I believe this is a process that requires taking a look at it requires changing but eventually individuals are very stuck to what they're familiar
with ideal um change is a difficult thing all of us do not like modification um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having preserving several checking account but there's a substantial quantity of complexity chooses establishing a savings account preserving it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is huge however I think the honest response is modification um individuals haven't been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we've constantly 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 understand what could almost be identified to be the next Century approximately there is a lot to keep track of and this method does posture several obstacles um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I just did you switched 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 Worldwide employees you deserve a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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