Find out more about Papaya Global Payroll Quiz ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and trustworthy approach of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Worker Website provides employees with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive benefits bundles to global workers regardless of the variety of employees in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source regional benefits companies in every country, develop local accounts and have a minimum number of employees.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total work costs dispersed per area, total work costs per cycle and a lot more.
Worldwide, I have actually demonstrated leadership and strategic know-how in assisting massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for overseeing payroll strategies, as discussed by Mark. My function involves handling and developing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for a lot of prominent companies on the planet we supply payroll payments and labor force management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent evening depending upon where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of various roles on the company side and also on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays 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 everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely really bleak and I want I was elsewhere at this moment in time all right so let's begin 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 business keep separate
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic possession for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business properly forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in enough in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most significantly policies compliance information security and banking rules then there are the sheer numbers they add further complexity the international Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people 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 all over the world in the conventional payroll model there's often an overwhelming number of various systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or extremely extremely standard there's no real consistency framework we're residing in a period of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that's another number that offers me sleepless nights and quite honestly the more a service invests in global payroll the less of an image they see an absence of visibility likewise extends to payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of global organizations have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors inadequately interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the information is shipped to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they count on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't need to be included ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 however everywhere you look with payroll payment they are like incredibly payments no if but some children 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 definitely fundamental and innovation is allowing us to sort of move on with that it also too to add to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and finance teams work better together than ever um I'm always impressed when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry 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 data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to add to sort of the level of intricacy there's a growing number of advantages being organ or being offered by services throughout the world so once again you're simply seeking to add more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine obstacles or real challenging kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would definitely state that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason that we are still making this as hard as it needs to be agreed and rightly as you stated payroll is the single most significant liability that any business has from an expense perspective from an impact viewpoint on workers it is absolutely crucial that it's done properly 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 greatest destructive effect on individuals's well-being and many other elements if individuals aren't paid uh I've always been surprised coming into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this things is done correctly so leveraging the first International Payments first payroll payment solution is a terrific initial step um supplying an end-to-end payroll service for your staff members globally again I think is another huge um procedure once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of companies and reducing the variety of tools platforms and bank accounts they require for their International 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 ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I do not believe any of us are actually doing that for for the thanks
anyway we know how how essential 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 associated with those procedures and likewise so imagine sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of 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 however it would certainly be a fascinating task trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and really see what was going on and sort of shot to get back to everyone so moving on appearance why do business select to main different savings account there are companies out there doing precisely this for particular countries and I've operated in a company or lots of services doing exactly that I can say it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not developing extra work for anyone where we don't 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 think lots of reasons one is it's the requirement I believe individuals have actually got so used to we require a new checking account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs changing but ultimately people are extremely stuck to what they're familiar
with ideal um change is a challenging thing all of us don't like change um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having maintaining several bank accounts however there's a big amount of complexity goes with setting up a bank account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for individual people so the complexity is substantial however I think the sincere response is modification um people have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think 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 looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be determined to be the next Century or so there is a lot to track and this technique does present several difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I simply did you changed our Business 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 Global employees you are worthy of a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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