Find out more about Papaya Global 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 obtained a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and trusted approach of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Employee Portal supplies workers with the capability to gain access to and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps companies provide competitive benefits plans to worldwide employees despite the number of staff members in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every nation, develop local accounts and have a minimum number of staff members.
The HR capabilities provided by Global HR incorporate different functions such as monitoring getaway time, ensuring compliance, facilitating the process of welcoming brand-new staff members and bidding farewell to leaving ones, using a safe online platform for saving workers' documents, and providing support for work permit procedures in case your workers require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total employment costs distributed per location, total employment expenses per cycle and much more.
Worldwide, I have shown leadership and tactical competence in directing large-scale populations of over 100,000 staff members across 170 countries. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My function involves managing and developing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a satisfaction to satisfy 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 concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different roles on the supplier side and likewise on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 gloomy and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll also discuss a recap and that should leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more typical and handling them ends up being increasingly more complex Worldwide organizations are aiming to find Solutions and brand-new methods to improve procedures particularly from a payroll and cross-border payment perspective numerous organizations preserve different savings account just for payroll while some have numerous accounts in various nations does it make sense for business to preserve different checking account in some cases in various countries it does however just for payroll exists a better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies enhance the episode complex processes of
making payroll payments properly efficiently safely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business properly forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in enough in one country however when you're doing it internationally it's next level and Beyond it becomes complicated for a range of reasons most significantly regulations compliance data security and banking rules then there are the large numbers they add more complexity the worldwide Workforce is presently 3 and a half billion individuals by 2030 it's approximated 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 world in the standard payroll model there's typically a frustrating number of various systems leading to lengthy manual processes and silos the variety of Integrations could be non-existent in big quantities and or extremely really standard there's no real consistency structure we're living 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 a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a service invests in global payroll the less of a photo they see an absence of visibility also extends to payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of global organizations have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors poorly interacted hires and terminations in addition to lack management and system setups and then when you round it all off and the data is shipped to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they depend on the needed 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 challenges organization face when they're paying to employees or otherwise that's an excellent question I constantly toss this back and state what is it what does not require to be consisted of right and what does
it require to be considered 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 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 wherever you look right ultimately building a knowledge base is absolutely crucial but all over you look with payroll payment they are like incredibly payments no if however some babies 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 recognition that payroll payments are definitely basic and technology is enabling us to type of progress with that it also also to contribute to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and financing teams work better together than ever um I'm always amazed when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on wellness and the payment landscape is ending up being increasingly elaborate. Companies are continuously presenting new benefits and payment choices, which contributes to the overall complexity. Large corporations frequently divide their payroll and payment processing into separate teams, which can cause inadequacies and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's technically innovative era, there's no validation for maintaining cumbersome procedures. Payroll, the company's greatest cost, should be processed correctly and on time. Even slight hold-ups can negatively impact workers' well-being and have significant effects. For that reason, it's vital to prioritize precise and prompt payments.
payroll group get um so I'm not exactly sure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle we all hear about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a terrific first step um offering an end-to-end payroll option for your workers worldwide again I think is another big um procedure again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely key to success success of organizations and decreasing the variety of tools platforms and bank accounts they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of 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 grievances where things haven't gone quite where they're implied to be um I don't think any of us are really doing that for for the thanks
anyway we know how how essential 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 easy as possible for everyone that's associated with those procedures and also so envision sorry I'm just I was simply gon na say envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and sort of try to get back to everyone so moving on appearance why do business choose to primary different bank accounts there are companies out there doing exactly this for particular countries and I have actually operated in a business or lots of services doing exactly that I can say it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not creating additional work for anybody where we do not have to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the standard I believe individuals have got so used to we require a new savings account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I believe this is a process that needs looking at it needs altering but eventually people are really stuck to what they're familiar
with right um change is a difficult thing all of us don't like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having keeping multiple checking account but there's a big amount of intricacy opts for establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual people so the complexity is big however I think the truthful response is change um people have not had the ability to change or have not had always the understanding to actually make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to track and this approach does position a number of challenges um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I 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 feels like our CFO has gotten another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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