Find out more about Papaya Global Payroll Ach ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and secure and reputable technique of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Employee Website supplies staff members with the capability to access and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to worldwide employees no matter the variety of staff members in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every nation, produce local accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total employment costs distributed per area, total work costs per cycle and a lot more.
Worldwide, I have actually demonstrated management and tactical knowledge in assisting large-scale populations of over 100,000 employees across 170 countries. Presently, I am responsible for supervising payroll strategies, as pointed out by Mark. My role involves handling and establishing external partnerships, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment services for the past seven years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of different roles on the company side and also on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really 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 extremely bleak and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business maintain separate
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how companies properly forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of reasons most notably regulations compliance information security and banking guidelines then there are the large numbers they include further complexity the global Workforce is currently 3 and a half billion individuals by 2030 it's approximated 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 factor in that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll design there's typically a frustrating variety of various systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or extremely extremely standard there's no real consistency structure we're living in an era 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 often with pen and paper and that just blows my mind every time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that gives me sleep deprived nights and rather frankly the more a business spends on international payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of global businesses have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes poorly interacted hires and terminations along with absence management and system configurations and after that when you round all of it off and the information is delivered to the wrong location the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they depend on the required several processes systems and partners it is simply 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 making payments to employees or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be consisted of best and what does
it require to be thought about there's differing Bank information 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity anywhere you look ideal ultimately constructing a knowledge base is absolutely critical however all over 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 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 enabling us to type of move forward with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm constantly impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation 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 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 also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to contribute to type of the level of complexity there's more and more benefits being organ or being provided by companies across the world so again you're just seeking to add a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine difficulties or genuine difficult kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of years I would certainly state that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and a period that you know that we are operating in today there is no reason why we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any business has from an expense viewpoint from an effect point of view on staff members it is absolutely critical 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 have to be done right it has the greatest destructive result on individuals's wellness and lots of other aspects if people aren't paid uh I've constantly been amazed coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for correctly 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 important cycle, and people just notice when things fail. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally too. For that reason, it is necessary to guarantee that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the first International Payments first payroll payment service is a fantastic initial step towards supplying a thorough payroll service for staff members worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and checking account needed for international payroll are essential consider achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as planned. Ultimately, we don't do it for the gratitude.
anyway we know 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 associated with those processes and likewise so think of sorry I'm simply I was just gon na say envision 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 talking about hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and kind of shot to return to everyone so carrying on look why do business pick to main separate bank accounts there are businesses out there doing precisely this for specific countries and I have actually operated in a business or numerous companies doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not producing extra work for any person where we don't have to and any person 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 reasons one is it's the standard I believe individuals have actually got so used to we require a brand-new bank account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other methods um to to type of do it so I believe there's a range I believe this is a procedure that requires taking a look at it requires changing however ultimately individuals are really stuck with what they recognize
with best um change is a tough thing all of us don't like modification um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the advantages of having maintaining multiple savings account however there's a big amount of complexity goes with setting up a savings account keeping it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is big however I believe the sincere answer is change um individuals haven't had the ability to change or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to keep an eye on and this method does pose a number of obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this improved ability, I have effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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