Find out more about Papaya Global Website ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a protected and reliable method of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Staff member Portal
Workers have access to an Employee Website where they can view their pay slips, wage and tax statements and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive benefits packages to international employees no matter the number of employees in the company. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every nation, develop regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall employment expenses distributed per area, overall work expenses per cycle and far more.
Worldwide, I have actually shown management and strategic knowledge in assisting large-scale populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for supervising payroll methods, as pointed out by Mark. My role involves handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce 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 present himself. Good day to all, no matter your location. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've kind of had a variety of various roles on the provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody 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 sunshine is it it's not no it's it's raining here it's really really gloomy and I want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll likewise go over a wrap-up which must leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being increasingly more common and managing them becomes more and more complex International organizations are aiming to find Solutions and brand-new ways to streamline procedures especially from a payroll and cross-border payment standpoint many organizations keep different savings account just for payroll while some have multiple accounts in different countries does it make good sense for business to keep different checking account often in different nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies streamline the episode complex procedures of
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how business properly anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most significantly policies compliance information security and banking rules then there are the large numbers they add additional intricacy the global Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the standard payroll design there's typically a frustrating number of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or very very standard there's no genuine consistency framework we're residing in a period of tech however payroll has actually been slow 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 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 organizations say they have Workforce data in real time that's another number that gives me sleepless nights and quite frankly the more a business spends on worldwide payroll the less of a photo they see a lack of visibility also encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of international companies have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors poorly communicated hires and terminations along with absence management and system setups and then when you round it all off and the data is shipped to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run smoothly if they depend on the necessary several processes 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 service face when they're making payments to staff members or otherwise that's a great question I constantly toss this back and state what is it what doesn't require to be consisted of ideal and what does
it require to be considered there's differing 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 have to pay from the customer's own in-country account so there's complexity wherever you look ideal ultimately constructing a knowledge base is definitely vital but all over you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to sort of progress with that it also also to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm always surprised when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on wellness and the payment landscape is becoming increasingly complex. Businesses are continuously presenting new benefits and payment choices, which adds to the overall intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can lead to inadequacies and traffic jams. In my opinion, this doesn't have to be the case. In today's highly sophisticated era, there's no justification for preserving troublesome procedures. Payroll, the business's biggest cost, need to be processed properly and on time. Even slight hold-ups can adversely impact staff members' wellness and have far-reaching repercussions. For that reason, it's vital to prioritize accurate and timely payments.
payroll team get um so I'm not sure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely crucial that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is a fantastic first step um offering an end-to-end payroll solution for your employees internationally again I believe is another big um process once again lining up and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of businesses and reducing the variety of tools platforms and checking account they require for their International 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 countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're indicated to be um I do not think any of us are really doing that for for the thanks
anyhow we know how how crucial 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 processes and likewise so envision sorry I'm just I was just gon na say envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of try to get back to everyone so moving on look why do business choose to primary separate savings account there are organizations out there doing exactly this for specific nations and I have actually operated in a service or numerous companies doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for anybody where we don't need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I think individuals have got so used to we require a 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 requirement and the standard individuals have adopted 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 many other ways um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it requires changing however ultimately people are very stuck to what they recognize
with best um modification is a hard thing all of us don't like modification um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having maintaining several bank accounts however there's a substantial quantity of complexity goes with setting up a bank account maintaining it ensuring it can send International transfers ensuring it's established with the right user accesses for private people so the complexity is huge however I believe the truthful response is modification um individuals haven't been able to alter or have not had always the knowledge to really make that change into alternate Solutions besides opening a savings account I think you have actually hit the nail on the head I believe it is understanding you understand and there is a component of resistance to alter 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 proceeding and moving into you know what could practically be figured out to be the next Century approximately there is a lot to track and this method does pose several difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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