Find out more about Papaya Global Payroll Calulator ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and reputable method of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll process, conserving me a considerable amount of time each month. With its easy to use user interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Staff member Website
Staff members have access to an Employee Website where they can view their pay slips, wage and tax statements and work documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to worldwide workers regardless of the number of employees in the business. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source regional advantages service providers in every nation, develop regional accounts and have a minimum number of workers.
The HR abilities provided by Global HR include numerous functions such as monitoring getaway time, guaranteeing compliance, facilitating the process of welcoming new workers and bidding farewell to leaving ones, offering a safe and secure online platform for saving employees' files, and providing assistance for work allow procedures in case your workers require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall employment costs distributed per location, overall work costs per cycle and a lot more.
Globally, I have demonstrated leadership and tactical expertise in guiding large-scale populations of over 100,000 employees across 170 nations. Currently, I are accountable for overseeing payroll methods, as pointed out by Mark. My role involves handling and developing external collaborations, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to fulfill 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 decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of various roles on the supplier side and also on the supplier side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really extremely uninspiring and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies preserve different
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is especially beneficial for international organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most importantly guidelines compliance information security and banking guidelines then there are the large numbers they add further intricacy the international Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the conventional payroll model there's typically an overwhelming number of different systems causing lengthy manual processes and silos the number of Combinations could be non-existent in big amounts and or extremely really standard there's no genuine 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 often with pen and paper and that simply blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that provides me sleepless nights and rather frankly the more a company invests in global payroll the less of a picture they see a lack of exposure also encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of global companies have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors poorly communicated hires and terminations in addition to absence management and system setups and after that when you round everything off and the data is shipped to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they count on the necessary several processes systems and partners it is simply not possible so Johnny from a payments point of view 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 great concern I constantly toss this back and say what is it what doesn't require to be consisted of 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 country 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 consumer's own in-country account so there's intricacy any place you look best eventually building a knowledge base is definitely crucial but everywhere you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort 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 technology is enabling us to type of move forward with that it likewise as well to add to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is absolutely necessary that payroll and financing teams work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more crucial to add to type of the level of intricacy there's increasingly more benefits being organ or being offered by organizations throughout the world so again you're just looking to include a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine difficulties or real tough kind of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding info into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we require to create extra handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and an age that you understand that we are operating in today there is no reason that we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any company has from an expense perspective from an effect point of view on staff members it is absolutely vital 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 have to be done right it has the greatest damaging result on people's well-being and lots of other aspects if individuals aren't paid uh I have actually constantly been impressed coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals 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 essential to make sure that tasks like Wi-Fi Global and other vital matters are done properly. Using the first Global Payments very first payroll payment solution is a fantastic preliminary action towards offering a detailed payroll service for employees worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and bank accounts necessary for global payroll are crucial factors in accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things don't go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow we understand how how crucial a role 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 procedures and also so envision sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions picture getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and kind of shot to return to everyone so carrying on look why do companies choose to primary different checking account there are organizations out there doing exactly this for specific countries and I have actually operated in a business or numerous services doing precisely that I can state it doesn't always feel effective and it does create more work I understand we're not purposely doing that we're not producing additional 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 think that we're doing that in in the in the quantity that we are I believe many reasons 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 appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I believe this is a process that requires taking a look at it needs altering however ultimately individuals are very stuck to what they recognize
with best um change is a hard thing all of us don't like modification um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having preserving numerous checking account however there's a huge amount of intricacy chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is big but I believe the truthful response is change um individuals haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we've constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to track and this method does pose a number of obstacles 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 jobs on one platform. It feels like our CFO has acquired another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is better, considering your achievements.
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