Find out more about Papaya Global App For Payroll ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and reliable method of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app streamlines my payroll process, saving me a significant amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Employee Portal offers workers with the capability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps business offer competitive advantages packages to international workers regardless of the number of employees in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every nation, create local accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall work expenses dispersed per location, total work costs per cycle and far more.
Worldwide, I have shown leadership and tactical expertise in guiding large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for managing payroll strategies, as pointed out by Mark. My role includes managing and developing external collaborations, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on offering payroll and workforce management services to workers 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, regardless of your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have focused on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I've type of had a range of various roles on the company side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply give everyone another number of uh well one of 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 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 everyone originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very bleak and I wish I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies preserve separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll likewise go over a wrap-up which must leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more typical and managing them ends up being increasingly more complicated Worldwide companies are looking to discover Solutions and new ways to enhance processes specifically from a payroll and cross-border payment perspective numerous companies preserve separate savings account just for payroll while some have multiple accounts in various countries does it make sense for business to preserve different checking account sometimes in different nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies enhance the episode complex processes of
making payroll payments properly effectively safely and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly anticipate 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 difficult in sufficient in one country but when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of factors most notably guidelines compliance information security and banking guidelines then there are the large numbers they include additional complexity the worldwide Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll design there's typically a frustrating variety of different systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or really really standard there's no real consistency structure we're living in a period 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 frequently with pen and paper which simply blows my mind every 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 companies say they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more an organization invests in international payroll the less of an image they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the transaction nearly half of worldwide businesses have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes inadequately communicated hires and terminations along with absence management and system configurations and then when you round it all off and the data is delivered to the incorrect location the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they rely on the essential 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 challenges service face when they're making payments to employees or otherwise that's a great concern I constantly toss this back and say what is it what doesn't require to be consisted of best and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is permitting us to kind of move forward with that it also too to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely necessary that payroll and financing groups work closer together than ever um I'm always amazed when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being used by businesses across the world so once again you're simply aiming to include a growing number of payments to this currently intricate landscape so if you sort of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real difficulties or real tough kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of years I would absolutely state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding info into the next function as it were that's actually 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 know long gone are the times where we require to produce additional handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and rightly as you said payroll is the single biggest liability that any organization has from an expense viewpoint from an effect point of view on staff members 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 effect on individuals's wellness and many other factors if people aren't paid uh I have actually always been amazed entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just discover when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's perceived externally too. Therefore, it is necessary to guarantee that tasks like Wi-Fi International and other crucial matters are done correctly. Using the very first Worldwide Payments first payroll payment service is a great initial step towards providing a detailed payroll solution for employees worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and savings account needed for worldwide payroll are crucial factors in achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyhow we understand how how essential 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 simple as possible for everyone that's associated with those processes and likewise so envision sorry I'm simply I was simply gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and type of shot to return to everybody so carrying on appearance why do business select to main separate checking account there are services out there doing exactly this for particular countries and I have actually operated in a service or many companies doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating extra work for anyone where we do not need to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I think individuals have actually got so used to we require a brand-new savings account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced and continue to do over years and years passed by to contribute to that people have 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 needs altering but ultimately people are extremely stuck with what they recognize
with right um change is a difficult thing we all don't like modification um so I think it's simply sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having keeping multiple savings account however there's a huge quantity of complexity goes with setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is substantial but I think the honest answer is modification um people haven't been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what might nearly be determined to be the next Century approximately there is a lot to keep track of and this approach does present numerous obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this improved capability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your achievements.
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