Find out more about Papaya Global Run Payroll ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This provides us with a secure and reputable method of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app improves my payroll process, saving me a considerable amount of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Staff member Website
Workers have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to global workers no matter the variety of workers in the company. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages suppliers in every nation, develop regional accounts and have a minimum variety of employees.
The HR capabilities offered by Global HR include various functions such as keeping track of getaway time, making sure compliance, helping with the process of inviting new staff members and bidding goodbye to departing ones, using a safe and secure online platform for keeping employees' files, and providing assistance for work permit treatments in case your staff members need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total employment expenses distributed per location, total work expenses per cycle and far more.
Internationally, I have actually demonstrated management and strategic knowledge in assisting large-scale populations of over 100,000 staff members across 170 nations. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My function involves managing and developing external partnerships, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for a lot of influential companies in the world we offer payroll payments and workforce management to all employee enters over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon great evening depending on where you are in the world it's lovely to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've type of had a range of various roles on the service provider side and also on the vendor side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite 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 everybody comes from and I actually 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 very very dreary and I want I was elsewhere at this moment in time okay so let's start our program 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 standard checking account for handling payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving separate savings account for payroll in different countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic property 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 accurately efficiently firmly and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how business accurately forecast their payroll expenses to increase working capital and how enhancing Global 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 ends up being complex for a range of reasons most notably policies compliance information security and banking guidelines then there are the sheer numbers they add additional intricacy the international Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll design there's frequently an overwhelming number of different systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in big amounts and or extremely really fundamental there's no genuine consistency framework we're living in an era of tech however 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 just blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a service invests in international payroll the less of an image they see a lack of exposure also encompasses payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of global services have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes badly interacted hires and terminations along with absence management and system configurations and then when you round everything off and the information is delivered to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they depend on the needed numerous procedures 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 challenges business face when they're paying to staff members or otherwise that's a good question I always toss this back and say what is it what does not need to be included best and what does
it require to be considered there's varying Bank information 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 have to pay from the customer's own in-country account so there's intricacy wherever you look ideal eventually developing a knowledge base is definitely important however everywhere you look with payroll payment they are like very payments no if however some babies 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 believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is permitting us to type of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely imperative that payroll and finance teams work closer together than ever um I'm constantly amazed when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work 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 typically 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 people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to contribute to type of the level of complexity there's increasingly more advantages being organ or being used by companies throughout the world so again you're simply seeking to include a growing number of payments to this already intricate landscape so if you kind 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 real difficulties or real difficult type of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would absolutely state that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding details into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to produce additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they don't make them what they require to be in in a period of tech and a period that you understand that we are working in today there is no reason that we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single greatest liability that any company has from an expense viewpoint from an impact point of view on employees it is definitely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging impact on people's well-being and many other factors if individuals aren't paid uh I've always been amazed entering this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all hear about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment solution is an excellent initial step um supplying an end-to-end payroll service for your staff members worldwide once again I think is another huge um process once again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of organizations and minimizing the variety of tools platforms and checking account they require 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 thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I do not think any of us are actually doing that for for the thanks
anyway we understand how how important a function 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 everybody that's involved in those procedures and also so think of sorry I'm simply I was simply gon na say picture 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 speaking about hundreds of thousands possibly Millions imagine getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of try to get back to everybody so moving on appearance why do business choose to primary different checking account there are organizations out there doing precisely this for specific countries and I've operated in a company or numerous companies doing exactly that I can state it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anybody where we do not need to and anybody that's managing 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 believe many factors one is it's the requirement I believe individuals have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires altering but ultimately people are extremely stuck to what they recognize
with ideal um change is a hard thing we all do not like change um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having keeping multiple savings account however there's a huge quantity of intricacy goes with setting up a savings account maintaining it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the complexity is big however I think the honest answer is change um people have not been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might almost be determined to be the next Century approximately there is a lot to monitor and this approach does position several obstacles um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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