Find out more about Papaya Global Payroll Feedback ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll procedure, conserving me a substantial quantity of time monthly. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Worker Website
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to worldwide staff members regardless of the number of employees in the business. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional advantages companies in every nation, develop local accounts and have a minimum variety of workers.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall employment costs distributed per location, overall employment expenses per cycle and much more.
Globally, I have actually demonstrated leadership and strategic proficiency in assisting large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for managing payroll methods, as discussed by Mark. My function includes managing and establishing external collaborations, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a satisfaction 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 actually focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually type of had a range of various roles on the provider side and likewise on the supplier side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or so 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 currently just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it remains 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 very really uninspiring and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep different
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic 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 effectively securely and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most significantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include additional intricacy the international Workforce is presently three and a half billion people by 2030 it's estimated 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 factor in that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll model there's typically an overwhelming variety of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in big quantities and or extremely really fundamental there's no genuine consistency framework 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 each time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a company invests in global payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction 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 because of time reporting poor HCM information information entry mistakes improperly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the data is delivered to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they count on the essential several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges company face when they're paying to staff members or otherwise that's a great question I always throw this back and state what is it what does not require to be consisted of right and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 any place you look ideal eventually building a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if but 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 believe there's now a bit more recognition that payroll payments are definitely essential and innovation is allowing us to kind of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely vital that payroll and financing groups work more detailed together than ever um I'm constantly amazed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide 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 procedure it's the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on wellness and the payment landscape is becoming progressively detailed. Companies are continuously presenting new advantages and payment options, which adds to the general complexity. Big corporations often divide their payroll and payment processing into separate teams, which can result in inefficiencies and traffic jams. In my viewpoint, this does not need to hold true. In today's technically advanced period, there's no reason for keeping cumbersome procedures. Payroll, the company's greatest expense, need to be processed correctly and on time. Even small hold-ups can adversely affect workers' wellness and have significant effects. For that reason, it's vital to prioritize accurate and prompt payments.
payroll team get um so I'm not exactly sure anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all become aware of it when it fails everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this things is done correctly so leveraging the very first International Payments very first payroll payment solution is a fantastic first step um providing an end-to-end payroll service for your staff members internationally again I think is another huge um process again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of organizations and reducing the number of tools platforms and bank accounts they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how crucial a role 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 everyone that's associated with those processes and also so envision sorry I'm simply I was just gon na state 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 speaking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of try to return to everybody so proceeding appearance why do companies choose to main different checking account there are businesses out there doing precisely this for specific nations and I have actually operated in a company or lots of companies doing exactly that I can state it doesn't always feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for any person where we do not need to and any person that's dealing with that procedure I 'd be interested to hear your ideas 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 requirement I think people have actually got so used to we need a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I think this is a process that needs taking a look at it needs changing but ultimately people are extremely stuck to what they're familiar
with right um change is a difficult thing all of us don't like change um so I think it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having keeping numerous savings account however there's a substantial amount of complexity goes with establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual people so the complexity is substantial but I believe the sincere response is modification um individuals haven't been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to change but we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century approximately there is a lot to keep track of and this method does position numerous difficulties um so Johnny could you inform us about those obstacles yeah obviously 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 actually acquired another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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