Find out more about Papaya Global Payroll Employment Verification ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and reliable approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, conserving me a significant quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Employee Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive advantages packages to international employees regardless of the variety of employees in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local advantages providers in every country, create local accounts and have a minimum number of workers.
The HR abilities supplied by Global HR include numerous functions such as monitoring vacation time, ensuring compliance, facilitating the process of welcoming brand-new employees and bidding goodbye to leaving ones, providing a safe online platform for saving employees' files, and offering support for work allow treatments in case your employees need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment expenses dispersed per place, total employment costs per cycle and a lot more.
Internationally, I have actually demonstrated management and strategic expertise in directing massive populations of over 100,000 workers throughout 170 countries. Currently, I are accountable for managing payroll techniques, as discussed by Mark. My function includes managing and developing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to satisfy 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 decade of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually kind of had a range of various roles on the service provider side and likewise on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or so to join we all work back to back these days 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 everyone is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely really dreary and I wish I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of keeping different checking account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how business properly forecast their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the sheer numbers they add more intricacy the worldwide Workforce 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 consider that there are some 230 million services and growing all doing their own thing around the world in the standard payroll design there's often an overwhelming number of different systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or really very standard there's no real consistency framework we're living in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just 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 services say they have Workforce data in real time that's another number that provides me sleepless nights and rather frankly the more an organization spends on international payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of global organizations have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors badly interacted hires and terminations in addition to absence management and system setups and after that when you round it all off and the information is shipped to the incorrect place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they depend 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 obstacles service face when they're making payments to staff members or otherwise that's an excellent question I always 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 of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity wherever you look right eventually building a knowledge base is definitely important but all over you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to kind of move forward with that it likewise too to add to that payroll and financing require to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work closer together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to contribute to sort of the level of intricacy there's a growing number of benefits being organ or being used by companies throughout the world so once again you're just wanting to add a growing number of payments to this already complicated landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine challenges or real tough type of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of years I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we run in they just make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an age that you understand that we are working in today there is no reason that we are still making this as difficult as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from an expense point of view from an effect point of view on staff members it is absolutely vital 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 have to be done right it has the most significant damaging effect on people's well-being and lots of other aspects if individuals aren't paid uh I have actually constantly been astonished entering this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle we all hear about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done properly so leveraging the first International Payments very first payroll payment option is a great initial step um providing an end-to-end payroll solution for your employees worldwide once again I believe is another huge um process once again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely key to success success of businesses and reducing the variety of tools platforms and savings account they require for their Worldwide payroll too couldn't 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 expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how important 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 easy as possible for everybody that's associated with those procedures and also so picture sorry I'm just I was just gon na state envision the amount 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 potentially Millions picture 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 certainly be an interesting 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 held true um you 'd require 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 moving on appearance why do companies pick to primary different checking account there are organizations out there doing exactly this for specific nations and I have actually operated in a service or lots of companies doing exactly that I can say it does not always feel efficient and it does develop more work I know we're not deliberately doing that we're not creating additional work for anyone where we do not have to and any person 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 quantity that we are I believe lots of factors one is it's the requirement I believe people have got so used to we require a new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I think this is a procedure that needs looking at it needs changing however eventually individuals are really stuck with what they're familiar
with right um change is a tough thing we all do not like change um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having keeping multiple bank accounts but there's a substantial quantity of intricacy goes with setting up a bank account keeping it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for private people so the complexity is substantial but I think the sincere response is modification um people haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might nearly be identified to be the next Century or so there is a lot to keep an eye on and this approach does present a number of obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a change 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 gained 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 workplace with a parking space that is more detailed, considering your accomplishments.
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