Find out more about Papaya Global Payroll Ceo ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and trustworthy approach of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
Employee Portal
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to global employees despite the variety of workers in the business. The company can set up medical insurance, short-term and long-term disability, 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 variety of employees.
The HR abilities provided by International HR incorporate various functions such as monitoring trip time, ensuring compliance, assisting in the process of welcoming new employees and bidding farewell to departing ones, using a secure online platform for saving workers' files, and offering assistance for work allow procedures in case your employees require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall employment expenses distributed per place, total employment expenses per cycle and a lot more.
environments around the world I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business managing and structure external relationships supporting Business customers and solutions as well as serving as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 countries. 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 area. It's a pleasure 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 market, I have concentrated on payroll and payment services for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of various roles on the supplier side and also on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two 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 already just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really very gloomy and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of keeping different savings account for payroll in different countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how business properly anticipate their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of reasons most notably policies compliance information security and banking guidelines then there are the large numbers they add more intricacy the international Labor force is currently three and a half billion people 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 organizations and growing all doing their own thing all over the world in the conventional payroll design there's frequently a frustrating variety of different systems causing lengthy manual processes and silos the number of Integrations could be non-existent in big amounts and or very very basic there's no real consistency framework we're residing in a period 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 which just blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more a company invests in worldwide payroll the less of a photo they see a lack of exposure likewise extends to payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide businesses have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes improperly communicated hires and terminations along with absence management and system configurations and after that when you round it all off and the data is delivered to the wrong place the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they count on the required multiple procedures systems and partners it is just 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 paying to workers or otherwise that's a good question I constantly throw this back and say what is it what doesn't need to be consisted of ideal and what does
it require to be thought of 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 abilities 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 client's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is absolutely important however all over you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is enabling us to kind of progress with that it also also to contribute to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely essential that payroll and finance teams work more detailed together than ever um I'm always amazed when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from estimation 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 eventually 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 however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of crucial to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being offered by businesses throughout the world so once again you're simply seeking to include increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine obstacles or real tough kind of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you know that we are working in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single biggest liability that any service has from an expense perspective from an impact perspective on employees it is definitely critical that it's done properly and on time so what we imply 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 destructive impact on people's wellness and lots of other elements if people aren't paid uh I've always been amazed coming into this Market sort of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people just see when things fail. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's perceived externally also. Therefore, it is vital to ensure that jobs like Wi-Fi International and other important matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment solution is a great preliminary action towards supplying a thorough payroll solution for employees worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and savings account necessary for international payroll are crucial factors in accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as prepared. Eventually, we do not do it for the gratitude.
anyhow we know 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 easy as possible for everybody that's involved in those procedures and likewise so imagine sorry I'm just I was simply gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions think of getting that numerous 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 certainly be an intriguing task attempting to clean 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 try to look through them and actually see what was going on and sort of try to get back to everybody so proceeding appearance why do business choose to primary separate checking account there are services out there doing exactly this for particular nations and I have actually operated in a business or numerous services doing precisely that I can state it does not constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not producing extra work for anybody where we don't 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 amount that we are I think lots of factors one is it's the standard I believe people have actually got so utilized to we require a new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a range I think this is a procedure that requires looking at it needs changing however ultimately individuals are very stuck with what they're familiar
with ideal um change is a difficult thing we all don't like change um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having keeping several bank accounts however there's a substantial amount of intricacy chooses setting up a savings account preserving it ensuring it can send International transfers guaranteeing it's established with the best user accesses for individual individuals so the complexity is huge however I think the sincere response is modification um individuals haven't been able to alter or have not had always the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you've struck 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 looking at the the advantages and the possibilities of carrying on and moving into you know what might almost be identified to be the next Century or two there is a lot to monitor and this method does present a number of obstacles um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I recently made a modification 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 boosted capability, I have successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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