Find out more about Papaya Global Payroll Layoffs ... We now have the capability to manage 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 specifically committed to handling payments. This supplies us with a safe and secure and trustworthy approach of making payments to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app enhances my payroll process, saving me a considerable quantity of time every month. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
Staff member Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and work files. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages packages to worldwide employees regardless of the number of employees in the business. The company can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages providers in every country, produce local accounts and have a minimum number of employees.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total employment expenses dispersed per place, total employment costs per cycle and a lot more.
Worldwide, I have shown management and strategic knowledge in guiding large-scale populations of over 100,000 staff members across 170 nations. Presently, I are accountable for managing payroll techniques, as discussed by Mark. My function includes managing and establishing external collaborations, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have constantly captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or six 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 perspective so truly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it remains 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 really really dreary and I wish I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll also discuss a recap and that must leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and handling them ends up being more and more complex Worldwide organizations are wanting to find Solutions and brand-new ways to streamline procedures especially from a payroll and cross-border payment standpoint numerous organizations maintain separate savings account just for payroll while some have numerous accounts in different countries does it make sense for companies to maintain different checking account in some cases in various countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies streamline the episode complex procedures of
making payroll payments accurately efficiently securely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how business properly anticipate their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in enough in one country however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of reasons most importantly guidelines compliance information security and banking guidelines then there are the sheer numbers they add more intricacy the global Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the standard payroll model there's frequently an overwhelming variety of different systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in large quantities and or really extremely standard there's no real consistency structure we're residing in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a business spends on worldwide payroll the less of an image they see a lack of exposure also reaches payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of international companies have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors badly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is delivered to the incorrect location the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they rely on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges business face when they're paying to staff members or otherwise that's a great concern I always throw this back and say what is it what does not need to be consisted of right and what does
it need 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 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 intricacy wherever you look best eventually building a knowledge base is definitely critical but everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to sort of progress with that it also too to add to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely important that payroll and finance groups work more detailed together than ever um I'm constantly astonished when people state I've divided payroll and payment um if you walk down the street and asked anybody 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 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 procedure it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on well-being and the settlement landscape is becoming significantly detailed. Organizations are continually presenting new benefits and payment options, which contributes to the overall intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can cause inadequacies and bottlenecks. In my opinion, this doesn't have to be the case. In today's highly innovative period, there's no validation for maintaining cumbersome procedures. Payroll, the company's most significant cost, need to be processed properly and on time. Even minor delays can negatively impact staff members' wellness and have significant repercussions. For that reason, it's vital to prioritize precise and timely payments.
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle we all become aware of it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe 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 absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment service is a fantastic first step um supplying an end-to-end payroll option for your staff members internationally once again I think is another big um process again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of services and decreasing the number of tools platforms and bank accounts they need for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're meant to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know how how crucial a role 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 everyone that's involved in those procedures and likewise so picture sorry I'm simply I was simply gon na state envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case 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 proceeding look why do companies select to main separate bank accounts there are organizations out there doing precisely this for specific nations and I have actually operated in an organization or numerous services doing precisely that I can say it does not constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing extra work for any person where we don't need to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I believe individuals have actually got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted 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 ways um to to kind of do it so I think there's a variety I believe this is a procedure that needs looking at it needs altering but eventually individuals are extremely stuck to what they recognize
with ideal um modification is a challenging thing we all don't like change um so I think it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having preserving multiple savings account but there's a substantial amount of complexity opts for setting up a checking account keeping it ensuring it can send out International transfers ensuring it's established with the right user accesses for private individuals so the complexity is huge however I think the sincere response is modification um people have not been able to change or have not had always the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century or so there is a lot to monitor and this approach does position several obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you deserve a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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