Find out more about Papaya Global Original Name ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly dedicated to managing payments. This offers us with a secure and trusted technique of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Worker Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business provide competitive advantages plans to international employees regardless of the variety of staff members in the company. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional advantages companies in every nation, create local accounts and have a minimum number of staff members.
The HR capabilities offered by Global HR encompass various functions such as keeping an eye on trip time, guaranteeing compliance, helping with the procedure of inviting brand-new staff members and bidding farewell to departing ones, offering a safe and secure online platform for saving workers' files, and offering assistance for work allow procedures in case your staff members need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall employment expenses dispersed per place, total employment costs per cycle and much more.
Internationally, I have shown leadership and strategic know-how in directing massive populations of over 100,000 employees across 170 nations. Currently, I am responsible for managing payroll strategies, as mentioned by Mark. My role includes handling and developing external collaborations, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
business to make the time 100 list for most influential business in the world we provide payroll payments and labor force management to all worker 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 present yourself naturally thank you good morning excellent afternoon great night depending on where you are in the world it's charming 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 industry for over 10 years and specifically dealing with the payroll and payment sector for over seven 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 kind of had a range of various roles on the provider side and also on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join all of us 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 simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really really dreary and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies preserve different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one country however when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most importantly policies compliance information security and banking rules then there are the large numbers they include further intricacy the global Workforce is currently 3 and a half billion people by 2030 it's estimated 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 consider that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll model there's frequently a frustrating variety of various systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in large amounts and or very extremely fundamental there's no real consistency framework we're living in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind every time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more an organization invests in international payroll the less of a picture they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal almost half of global businesses have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes inadequately communicated hires and terminations in addition to absence management and system setups and then when you round all of it off and the data is delivered to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they rely on the required multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're making payments to workers or otherwise that's a great concern I constantly toss this back and say what is it what doesn't require to be consisted of ideal 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 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 complexity anywhere you look ideal ultimately building a knowledge base is definitely crucial but everywhere you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you 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 essential and technology is permitting us to sort of move forward with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing groups work better together than ever um I'm constantly impressed when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more important to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being provided by companies throughout the world so again you're just looking to include a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or real challenging type of pay utilizes to play to pay people I think yeah I imply over the last well yeah a couple of decades I would definitely say that the larger a company 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 groups feeding details into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we need to develop additional handoffs in the processes that we operate in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you understand 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 organization has from an expense viewpoint from an impact perspective on employees it is absolutely important that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant destructive result on people's wellness and numerous other factors if individuals aren't paid uh I have actually constantly been astonished entering into this Market type of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for properly 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 see when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally also. Therefore, it is important to make sure that tasks like Wi-Fi International and other important matters are done correctly. Utilizing the first Global Payments first payroll payment solution is a fantastic initial step towards providing a comprehensive payroll solution for staff members worldwide. Standardization, international processes, and reducing the number of tools, platforms, and checking account required for worldwide payroll are crucial consider achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things don't go as planned. Eventually, we don't do it for the gratitude.
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 everybody that's associated with those procedures and likewise so think of sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task trying to clean up all those up for sure oh definitely 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 browse them and really see what was going on and sort of try to return to everybody so moving on appearance why do companies select to main different savings account there are services out there doing exactly this for specific countries and I have actually operated in a business or numerous companies doing precisely that I can say it doesn't always feel efficient and it does produce more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not have to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the requirement I believe people have actually got so used to we need a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the requirement 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 taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I think this is a procedure that needs taking a look at it requires altering but ultimately individuals are really stuck with what they're familiar
with ideal um modification is a difficult thing all of us do not like modification um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having keeping numerous bank accounts however there's a substantial amount of complexity opts for setting up a savings account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for individual people so the complexity is big however I think the honest response is modification um individuals have not had the ability to change or haven't had necessarily the understanding to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could practically be figured out to be the next Century or two there is a lot to keep track of and this approach does position several difficulties um so Johnny might you tell us about those difficulties yeah obviously 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 tasks on one platform. It seems like our CFO has gotten another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your achievements.
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