Find out more about Papaya Global Payroll Delayed ... 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 gotten a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and dependable method of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
Staff member Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to international staff members regardless of the variety of employees in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source regional benefits companies in every nation, create regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall work expenses distributed per area, overall employment costs per cycle and far more.
Worldwide, I have actually demonstrated leadership and tactical proficiency in guiding massive populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for managing payroll techniques, as discussed by Mark. My role involves managing and developing external collaborations, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on providing payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've sort of had a variety of different roles on the company side and also on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone 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 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 very uninspiring and I want I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies maintain separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is especially helpful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of preserving different checking account for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will also offer a wrap-up of the bottom lines 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 stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business properly anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in sufficient in one country however when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of factors most importantly policies compliance information security and banking guidelines then there are the large numbers they include more intricacy the global Labor force is presently 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 services and growing all doing their own thing worldwide in the traditional payroll model there's typically a frustrating variety of various systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in big amounts and or very really standard there's no real consistency framework we're residing 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 often 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 only 11 of organizations state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company spends on worldwide payroll the less of a picture they see a lack of presence likewise extends to payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of international businesses have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors poorly interacted hires and terminations as well as absence management and system configurations and after that when you round it all off and the information is delivered to the wrong location the average cost of a global information 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 count on the necessary numerous processes 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 challenges business face when they're paying to workers or otherwise that's a good question I always toss this back and state what is it what does not need to be included best and what does
it require to be considered there's differing Bank information 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 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 wherever you look best eventually developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you 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 definitely basic and innovation is enabling us to sort of progress with that it also also to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely vital that payroll and financing groups work closer together than ever um I'm always amazed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on wellness and the payment landscape is ending up being increasingly intricate. Companies are constantly introducing new advantages and payment alternatives, which adds to the general intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's highly innovative period, there's no justification for preserving cumbersome procedures. Payroll, the company's most significant expense, must be processed correctly and on time. Even slight delays can adversely impact workers' well-being and have far-reaching consequences. Therefore, it's vital to focus on precise and prompt payments.
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just see when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's viewed externally as well. For that reason, it is vital to guarantee that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first Global Payments very first payroll payment solution is a terrific preliminary step towards providing a comprehensive payroll option for employees worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and bank accounts necessary for international payroll are crucial consider achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we understand 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 everybody that's associated with those procedures and likewise so picture sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous 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 certainly be an interesting job attempting to clean up all those up for sure oh definitely I can't envision 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 really see what was going on and sort of shot to return to everybody so carrying on look why do business choose to primary separate checking account there are organizations out there doing exactly this for particular countries and I have actually operated in an organization or numerous businesses doing exactly that I can state it does not constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anyone where we do not need to and any person that's dealing with that procedure 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 believe many factors one is it's the standard I believe individuals 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 functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I think this is a process that requires looking at it requires changing but eventually individuals are really stuck to what they're familiar
with best um modification is a hard thing all of us do not like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having preserving numerous checking account but there's a huge quantity of complexity opts for setting up a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the best user accesses for individual people so the complexity is big but I think the truthful answer is modification um individuals haven't been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might almost be determined to be the next Century or two there is a lot to monitor and this method does posture numerous difficulties um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this improved ability, I have effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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