Find out more about Papaya Global Payroll Valuation ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and reliable technique of paying to our 10,000 workers worldwide.}
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The Employee Website supplies workers with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages packages to worldwide workers no matter the variety of staff members in the business. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local advantages service providers in every nation, produce local accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment expenses dispersed per place, overall employment costs per cycle and much more.
Internationally, I have actually demonstrated leadership and strategic expertise in assisting massive populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for overseeing payroll techniques, as discussed by Mark. My function involves handling and developing external partnerships, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for most prominent companies on the planet we supply payroll payments and workforce management to all employee key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon great evening depending on where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I've sort of had a variety of various roles on the company side and also on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting 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 everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really very dreary and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially helpful for worldwide companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time during this webinar we'll walk you through the worldwide 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 simplifying International payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in enough in one country but when you're doing it globally it's next level and Beyond it ends up being intricate for a range of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they add additional complexity the global 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 people 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 conventional payroll model there's typically an overwhelming number of different systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in large amounts and or extremely very fundamental there's no genuine 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 which just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies 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 business invests in worldwide payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of global services have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations in addition to lack management and system setups and then when you round all of it off and the information is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they count on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're making payments to employees or otherwise that's a good concern I always throw this back and say what is it what does not require to be included right and what does
it need to be thought about there's differing 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 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is absolutely critical however all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 definitely essential and innovation is allowing us to kind of move forward with that it likewise as well to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely imperative that payroll and finance teams work better together than ever um I'm constantly astonished when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation 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 eventually 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 also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to contribute to kind of the level of complexity there's a growing number of benefits being organ or being provided by businesses throughout the world so once again you're simply seeking to add increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real difficulties or genuine difficult kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of years I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding information into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and an era that you know that we are working in today there is no reason we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any business has from a cost point of view from an effect perspective on staff members it is absolutely vital that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the biggest damaging impact on individuals's wellness and lots of other elements if individuals aren't paid uh I have actually always been astonished entering into this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just see when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally too. Therefore, it is essential to make sure that tasks like Wi-Fi International and other important matters are done properly. Utilizing the very first Global Payments first payroll payment service is a terrific preliminary step towards supplying a comprehensive payroll solution for staff members worldwide. Standardization, international processes, and reducing the number of tools, platforms, and bank accounts required for international payroll are crucial factors in attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as planned. Eventually, we don't do it for the appreciation.
anyway we know how how essential 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 also so picture sorry I'm just I was simply gon na state picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job attempting to clean 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 proceeding appearance why do business choose to main separate bank accounts there are companies out there doing precisely this for specific nations and I have actually operated in an organization or many organizations doing precisely that I can say it does not always feel effective and it does develop more work I understand we're not deliberately 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 thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I believe people have got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals 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 numerous other ways um to to sort of do it so I believe there's a variety I think this is a procedure that requires looking at it needs altering but ultimately people are very stuck to what they recognize
with right um change is a difficult thing all of us do not like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having keeping numerous savings account but there's a huge quantity of intricacy goes with setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for specific people so the complexity is big however I think the sincere answer is modification um individuals have not had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to alter however we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to track and this method does pose several obstacles um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you should have a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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