Find out more about Papaya Global Twitter ... 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 particularly dedicated to managing payments. This offers us with a safe and trusted method of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Staff member Portal provides employees with the capability to access and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits packages to global workers no matter the variety of employees in the company. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source regional benefits suppliers in every nation, produce regional accounts and have a minimum variety of employees.
The HR capabilities provided by Global HR incorporate numerous functions such as keeping an eye on holiday time, ensuring compliance, facilitating the procedure of welcoming new staff members and bidding goodbye to leaving ones, using a safe online platform for saving employees' files, and providing support for work allow treatments in case your workers require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall work expenses distributed per location, total work expenses per cycle and a lot more.
Globally, I have actually demonstrated leadership and strategic know-how in assisting massive populations of over 100,000 staff members across 170 countries. Currently, I are accountable for supervising payroll strategies, as mentioned 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 options provider.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually kind of had a variety of various functions on the supplier side and also on the vendor side from a payroll point of view so really anticipating this conversation today um and yeah thank you quite for your time everybody okay 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 type of let them do that so it 'd be rather interesting 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 everybody originates from and I actually do hope it's much sunnier than it is 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 very gloomy and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an alternative to traditional checking account for handling payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping different checking account for payroll in various countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will likewise supply 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 throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how business properly anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most significantly regulations compliance information security and banking guidelines then there are the sheer numbers they add additional complexity the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll design there's frequently an overwhelming variety of different systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or really very fundamental there's no genuine consistency framework we're living in an era of tech but payroll has actually 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 simply blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in worldwide payroll the less of an image they see an absence of exposure also extends to payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of international services have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors poorly communicated hires and terminations in addition to lack management and system setups and after that when you round it all off and the information is shipped to the wrong place the typical expense 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 count on the necessary several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to staff members or otherwise that's a good concern I always toss this back and say what is it what doesn't need to be included right and what does
it require to be thought about there's varying 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 customer's own in-country account so there's intricacy wherever you look best eventually constructing a knowledge base is definitely important but all over you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type 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 definitely basic and technology is enabling us to sort of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm constantly impressed when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often 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 anywhere they are but 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 compensation landscape is becoming progressively detailed. Organizations are constantly introducing new benefits and payment options, which adds to the overall intricacy. Large corporations often divide their payroll and payment processing into different teams, which can cause inadequacies and bottlenecks. In my opinion, this does not need to be the case. In today's technically innovative period, there's no justification for keeping cumbersome treatments. Payroll, the business's biggest cost, need to be processed properly and on time. Even slight hold-ups can negatively impact employees' well-being and have significant repercussions. Therefore, it's important to prioritize precise and timely payments.
payroll team get um so I'm unsure anyone on this type 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 employees or not um but ultimately payroll is such an important cycle all of us become aware of it when it goes wrong everyone 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 view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment solution is a great primary step um supplying an end-to-end payroll option for your staff members internationally once again I believe is another huge um procedure once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of businesses and lowering the variety of tools platforms and savings account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of 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 implied to be um I don't think any of us are in fact doing that for for the thanks
anyhow we understand how how important 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 everybody that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions imagine getting that many 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 a fascinating job 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 attempt to check out them and really see what was going on and sort of shot to return to everyone so carrying on appearance why do companies pick to main different bank accounts there are organizations out there doing precisely this for particular countries and I have actually worked in an organization or lots of companies doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not creating extra work for anybody where we do not have to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous factors one is it's the requirement I think individuals have actually got so utilized to we require a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I believe this is a procedure that requires looking at it needs changing but eventually individuals are very stuck to what they're familiar
with best um change is a tough thing all of us do not like change um so I think it's just sort of moving far from the standard 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 numerous bank accounts however there's a big amount of intricacy goes with setting up a checking account keeping it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is big however I think the honest answer is change um individuals have not had the ability to change or have not had always the understanding 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 know and there is a component 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 advantages and the possibilities of carrying on and moving into you know what could practically be identified to be the next Century or two there is a lot to monitor and this technique does pose a number of challenges 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 modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
Papaya Global Art