Find out more about Papaya Global Change Payroll Date ... 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 actually acquired a different Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and secure and trustworthy approach of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app simplifies my payroll procedure, saving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Employee Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive advantages bundles to worldwide workers no matter the number of employees in the company. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every country, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total employment costs dispersed per place, total employment costs per cycle and a lot more.
Globally, I have shown leadership and strategic competence in guiding large-scale populations of over 100,000 workers across 170 nations. Presently, I am responsible for supervising payroll methods, as discussed by Mark. My role includes handling and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a satisfaction to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment options for the past seven years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've type of had a range of various roles on the supplier side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everyone 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 is 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 really really gloomy and I wish I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how companies precisely forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most importantly policies compliance data security and banking rules then there are the sheer numbers they add further intricacy the global Workforce is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll model there's often an overwhelming number of various systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in big quantities and or extremely extremely standard there's no real consistency framework we're living in an age of tech however payroll has 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 just blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more a business spends on worldwide payroll the less of a picture they see a lack of presence also reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of international companies 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 errors are because of time reporting poor HCM information information entry errors badly communicated hires and terminations as well as lack management and system configurations and then when you round all of it off and the information is delivered to the incorrect place the average expense of a worldwide 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 depend on the required multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're paying to workers or otherwise that's a good question I constantly toss this back and state what is it what does not require to be included right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 consumer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is definitely critical however 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 in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to kind of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work more detailed together than ever um I'm always amazed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more essential to contribute to type of the level of complexity there's more and more benefits being organ or being provided by businesses throughout the world so again you're just aiming to include more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine obstacles or real tough type of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding info into the next function as it were that's actually managing the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to produce additional handoffs while doing sos that we run 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 an era of tech and a period that you understand that we are working in today there is no reason we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any organization has from a cost viewpoint from an effect perspective on workers it is definitely vital that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful impact on individuals's wellness and many other factors if individuals aren't paid uh I've constantly been impressed coming into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this type of webinar has actually 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 staff members or not um but eventually payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong however 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 things is absolutely essential that all of this things is done correctly so leveraging the first International Payments first payroll payment service is a great primary step um providing an end-to-end payroll service for your employees internationally again I think is another substantial um process again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely crucial to success success of services and minimizing the variety of tools platforms and bank accounts they need 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've never had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyway we know how how important 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 involved in those procedures and also so envision sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting to clean all those up for sure oh absolutely I can't picture 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 actually see what was going on and sort of try to get back to everybody so moving on appearance why do companies select to primary different checking account there are services out there doing exactly this for specific countries and I've operated in a company or numerous businesses doing precisely that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not producing additional work for anyone where we don't need to and anybody that's managing 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 think lots of factors one is it's the requirement I believe people have actually got so utilized to we need a new bank account we open an entity and rightly 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 norm individuals have actually adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires changing however eventually people are extremely stuck with what they recognize
with right um change is a hard thing we all do not like modification um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having preserving several savings account but there's a big amount of complexity opts for setting up a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private people so the intricacy is huge however I believe the sincere answer is modification um people have not had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century approximately there is a lot to keep an eye on and this approach does position numerous challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you deserve 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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