Find out more about Papaya Global Payroll Facebook ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and secure and reliable method of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Staff member Portal supplies employees with the capability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages plans to worldwide staff members no matter the variety of staff members in the company. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local advantages companies in every country, create local accounts and have a minimum variety of workers.
The HR capabilities provided by Global HR include numerous functions such as keeping an eye on holiday time, ensuring compliance, facilitating the procedure of inviting new workers and bidding goodbye to departing ones, offering a protected online platform for keeping workers' files, and supplying support for work allow treatments in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall work costs distributed per area, total employment costs per cycle and much more.
Worldwide, I have demonstrated management and tactical proficiency in assisting large-scale populations of over 100,000 staff members across 170 nations. Presently, I are accountable for supervising payroll strategies, as mentioned by Mark. My function includes managing and establishing external collaborations, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As an international business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to meet 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 years of experience in the payments industry, I have focused on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I have actually kind of had a range of different roles on the company side and also on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everybody all right 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 these days so we'll sort 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 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 drizzling here it's very really bleak and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business maintain different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of preserving separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined 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 property for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how business accurately forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in sufficient in one country however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of reasons most significantly regulations compliance information security and banking rules then there are the sheer numbers they add more intricacy the international Labor force is currently three 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 presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll design there's frequently a frustrating number of different systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely really fundamental there's no genuine consistency structure we're residing in an age of tech but 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 believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more an organization spends on global payroll the less of an image they see a lack of exposure also reaches payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide companies have actually revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors inadequately communicated hires and terminations along with lack management and system configurations and then when you round all of it off and the data is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars when 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 essential numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to staff members or otherwise that's a good question I constantly toss this back and say what is it what does not require to be consisted of best and what does
it need to be thought of 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 abilities 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 customer's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is absolutely vital but all over you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is allowing us to sort of progress with that it also as well to add to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and financing teams work better together than ever um I'm always astonished when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation 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 often split and cut up um eventually it's payroll is an end-to-end procedure 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 3rd parties so with the
The modern-day world puts a high worth on wellness and the settlement landscape is ending up being significantly complex. Services are continually introducing brand-new benefits and payment options, which adds to the total complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this does not need to hold true. In today's technically sophisticated age, there's no justification for maintaining troublesome procedures. Payroll, the business's greatest expense, should be processed correctly and on time. Even small delays can adversely impact staff members' wellness and have far-reaching effects. For that reason, it's vital to prioritize accurate and prompt payments.
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anybody has 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 individuals just see when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally also. For that reason, it is necessary to ensure that tasks like Wi-Fi International and other important matters are done properly. Utilizing the first International Payments very first payroll payment solution is a great initial step towards providing an extensive payroll service for workers worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and bank accounts necessary for worldwide payroll are key factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyway we understand 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 everybody that's involved in those procedures and also so picture sorry I'm simply I was simply gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task attempting to clean up 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 require days of the week to attempt to look through them and in fact see what was going on and kind of try to get back to everybody so proceeding look why do companies pick to primary separate checking account there are services out there doing precisely this for specific nations and I have actually operated in an organization or many companies doing precisely that I can state it does not always feel efficient and it does produce more work I know we're not intentionally doing that we're not developing additional work for anyone where we do not have to and anybody 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 factors one is it's the standard I think people have actually got so used to we require a brand-new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I believe this is a procedure that requires looking at it requires changing however ultimately individuals are really stuck with what they recognize
with ideal um modification is a challenging thing all of us do not like modification um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having preserving multiple checking account but there's a substantial amount of complexity opts for establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the intricacy is big however I believe the sincere answer is modification um people haven't had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change but we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to keep track of and this method does posture several obstacles um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I simply did you switched 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 employees you are worthy of a corner workplace with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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