Find out more about Papaya Global Pty Ltd ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a protected and reputable technique of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app simplifies my payroll process, conserving me a substantial amount of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Staff member Portal
Workers have access to an Employee Portal where they can view their pay slips, wage and tax statements and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive advantages plans to international workers regardless of the number of employees in the company. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source regional advantages service providers in every country, produce local accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total work costs distributed per area, total employment costs per cycle and far more.
Globally, I have shown management and tactical knowledge in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for supervising payroll methods, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and decided 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 different functions on the supplier side and also on the vendor side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I really 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 extremely extremely uninspiring and I want I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll likewise review a wrap-up and that should leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of common and handling them becomes more and more intricate International companies are wanting to find Solutions and new ways to improve processes especially from a payroll and cross-border payment standpoint lots of organizations preserve different bank account just for payroll while some have multiple accounts in various nations does it make good sense for business to preserve different bank accounts often in various nations it does however just for payroll exists a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business streamline the episode complex procedures of
making payroll payments precisely efficiently safely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most importantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include more complexity the worldwide Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the conventional payroll design there's typically an overwhelming variety of different systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or really really standard there's no genuine consistency structure we're residing in an era of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a business invests in international payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the transaction nearly half of global businesses have actually expressed that they don't 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 bad HCM information information entry errors badly communicated hires and terminations as well as absence management and system setups and then when you round everything off and the information is delivered to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they count on the required several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties organization face when they're making payments to staff members or otherwise that's an excellent question I constantly throw this back and state what is it what does not need 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 amount of time there's payment capabilities 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 intricacy any place you look best eventually building a knowledge base is absolutely vital but everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and technology is permitting us to kind of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation 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 data collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on well-being and the payment landscape is ending up being increasingly intricate. Services are continuously introducing new advantages and payment choices, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into different groups, which can result in inadequacies and traffic jams. In my viewpoint, this does not have to hold true. In today's technologically sophisticated era, there's no reason for maintaining cumbersome treatments. Payroll, the company's greatest expenditure, must be processed properly and on time. Even slight delays can negatively impact staff members' well-being and have far-reaching effects. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll team get um so I'm not sure anyone on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an important cycle we all find out about it when it fails everyone jumps up and down when it fails however when it goes right it's simply 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 things is done properly so leveraging the first Worldwide Payments very first payroll payment option is a terrific primary step um providing an end-to-end payroll option for your staff members globally once again I believe is another huge um procedure once again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of companies and reducing the variety of tools platforms and savings account they need for their Global 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 have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway we understand how how crucial 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 everybody that's involved in those procedures and also so imagine sorry I'm simply I was just gon na state imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task attempting to clean all those up for sure oh definitely I can't picture 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 sort of try to get back to everybody so moving on appearance why do companies choose to primary different bank accounts there are organizations out there doing exactly this for specific countries and I have actually operated in a business or many businesses doing exactly that I can state it does not always feel efficient and it does create more work I understand we're not deliberately doing that we're not creating additional work for anybody where we don't have to and anybody 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 amount that we are I believe many factors one is it's the standard I think people have got so used to we need a brand-new bank account we open an entity and appropriately so you need 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 norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a procedure that needs taking a look at it needs changing but eventually individuals are extremely stuck to what they're familiar
with ideal um change is a hard thing all of us don't like change um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having maintaining multiple bank accounts but there's a big quantity of complexity chooses establishing a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for individual individuals so the complexity is substantial but I believe the honest response is modification um people haven't had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could practically be determined to be the next Century approximately there is a lot to keep an eye on and this method does posture several challenges um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I just did you changed our Enterprise 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 Worldwide workers you are worthy of a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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