Find out more about Papaya Global Payroll Ein ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a protected and trusted method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and specialists
The Worker Website offers employees with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages plans to worldwide employees despite the variety of staff members in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source regional benefits service providers in every nation, produce local accounts and have a minimum number of workers.
The HR abilities provided by Global HR encompass numerous functions such as monitoring holiday time, ensuring compliance, assisting in the procedure of welcoming new workers and bidding farewell to departing ones, providing a protected online platform for keeping workers' files, and providing assistance for work allow treatments in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total employment expenses dispersed per area, overall work expenses per cycle and a lot more.
Internationally, I have demonstrated leadership and strategic proficiency in guiding massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My function involves managing and establishing external partnerships, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for a lot of influential business in the world we offer payroll payments and workforce management to all employee types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending upon where you remain in the world it's lovely 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 have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've kind of had a range of different roles on the company side and likewise on the supplier side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really very uninspiring and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies preserve different
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially helpful for international companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical 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 accurately efficiently safely and on time during this webinar we'll walk you through the international pros and cons 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 strategic possession so payroll can be hard in sufficient in one country however when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of factors most significantly regulations compliance data security and banking guidelines then there are the sheer numbers they add additional intricacy the international Labor force is presently 3 and a half billion people by 2030 it's approximated 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 consider that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll model there's often a frustrating number of various systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in large quantities and or really very basic there's no real consistency framework we're living in a period 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 each time I I think
about it to give you an idea 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 provides me sleep deprived nights and rather frankly the more a business spends on global payroll the less of an image they see a lack of presence likewise encompasses payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of international companies have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM data information entry mistakes inadequately interacted hires and terminations in addition to lack management and system setups and then when you round everything off and the data is shipped to the wrong location the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they rely on the necessary numerous procedures 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 challenges business face when they're paying to employees or otherwise that's a good question I constantly toss this back and say what is it what doesn't require to be included ideal and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 client's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to kind of progress with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and financing teams work closer together than ever um I'm constantly astonished when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on wellness and the settlement landscape is ending up being significantly complex. Businesses are continually presenting brand-new advantages and payment alternatives, which contributes to the total intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't have to be the case. In today's technically sophisticated age, there's no justification for keeping troublesome procedures. Payroll, the business's most significant cost, need to be processed correctly and on time. Even slight hold-ups can adversely impact staff members' wellness and have significant repercussions. Therefore, it's critical to focus on accurate and timely payments.
The payroll group might not have actually been thanked for correctly processing payroll during 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 a crucial cycle, and people just see when things fail. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally too. Therefore, it is essential to ensure that jobs like Wi-Fi International and other crucial matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment solution is a terrific preliminary action towards supplying a detailed payroll solution for staff members worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and checking account needed for worldwide payroll are essential consider achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things do not go as prepared. Ultimately, we do not do it for the appreciation.
anyway we understand how how essential a role 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 involved in those processes and likewise so envision sorry I'm simply I was just gon na state think of the quantity 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 think of getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and type of shot to get back to everybody so proceeding look why do companies select to primary different bank accounts there are companies out there doing precisely this for particular nations and I have actually operated in a company or lots of businesses doing precisely that I can state it doesn't always feel effective and it does produce more work I know we're not intentionally doing that we're not developing additional work for any person where we do not have to and any person that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the standard I believe people have got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I believe this is a procedure that needs looking at it needs changing however eventually individuals are extremely stuck to what they're familiar
with best um modification is a tough thing all of us don't like change um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having keeping multiple checking account however there's a substantial quantity of intricacy goes with establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for individual individuals so the complexity is substantial but I think the truthful answer is change um individuals have not been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change however we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century or two there is a lot to monitor and this technique does posture a number of challenges um so Johnny might you tell 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 tasks on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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