Find out more about Papaya Global Japan ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This provides us with a protected and trusted technique of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Staff member Portal offers staff members with the ability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global helps business use competitive advantages plans to worldwide workers regardless of the number of workers in the company. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the need to source regional advantages providers in every nation, produce regional accounts and have a minimum number of employees.
The HR capabilities supplied by Global HR include various functions such as monitoring vacation time, making sure compliance, assisting in the process of inviting new workers and bidding farewell to departing ones, providing a protected online platform for saving employees' files, and offering assistance for work allow procedures in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, total work costs dispersed per place, total work costs per cycle and much more.
Worldwide, I have demonstrated management and tactical know-how in directing large-scale populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for managing payroll methods, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for most influential business worldwide we provide 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 present yourself obviously thank you good morning great afternoon good night depending upon where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different functions on the service provider side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it remains 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 very really gloomy and I want I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business maintain different
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is especially beneficial for international organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly 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 business precisely anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of factors most importantly policies compliance information security and banking guidelines then there are the large numbers they include more complexity the worldwide Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the standard payroll model there's often a frustrating number of various systems resulting in time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or really extremely standard there's no genuine consistency framework we're living in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply 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 only 11 of organizations say they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more an organization invests in global payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide companies have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes inadequately interacted hires and terminations as well as absence management and system setups and after that when you round it all off and the data is shipped to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the needed numerous 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 difficulties business face when they're paying to employees or otherwise that's an excellent concern I always toss this back and say what is it what does not need to be consisted of right and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 customer's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is absolutely important but all over you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to sort of move forward with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely essential that payroll and financing groups work better together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on wellness and the compensation landscape is becoming significantly intricate. Organizations are constantly presenting new advantages and payment options, which contributes to the overall intricacy. Big corporations typically divide their payroll and payment processing into different teams, which can result in inefficiencies and traffic jams. In my opinion, this doesn't have to be the case. In today's technically innovative age, there's no reason for preserving cumbersome treatments. Payroll, the company's biggest expenditure, need to be processed properly and on time. Even slight hold-ups can negatively affect employees' wellness and have significant effects. For that reason, it's vital to prioritize accurate and prompt payments.
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just discover when things fail. However, when things go right, it's viewed as simply a routine task. This is how it's viewed externally too. Therefore, it is important to ensure that tasks like Wi-Fi International and other crucial matters are done correctly. Using the very first Global Payments first payroll payment option is a fantastic preliminary action towards supplying a comprehensive payroll solution for employees worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and savings account necessary for global payroll are key consider achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as planned. Eventually, we don't do it for the gratitude.
anyway we know how how essential 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 easy as possible for everybody that's associated with those processes and also so envision sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and actually see what was going on and type of try to get back to everybody so carrying on appearance why do business select to main different savings account there are services out there doing precisely this for particular countries and I've worked in a business or numerous services doing precisely that I can say it doesn't always feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating additional work for any person where we do not need to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I believe people have actually got so used to we require a brand-new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a process that requires looking at it needs altering however ultimately individuals are really stuck with what they're familiar
with right um modification is a challenging thing all of us do not like change um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having maintaining several bank accounts however there's a substantial amount of intricacy goes with establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the complexity is huge but I believe the truthful answer is change um people haven't been able to change or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change but we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could almost be determined to be the next Century or two there is a lot to monitor and this method does pose several challenges um so Johnny could you inform us about those challenges yeah obviously 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 manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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