Find out more about Papaya Global Payroll Forms ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and dependable approach of paying to our 10,000 employees worldwide.}
The advanced global payroll management app simplifies my payroll procedure, saving me a significant quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Worker Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive benefits plans to worldwide staff members despite the variety of employees in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source local advantages companies in every nation, create local accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall employment expenses distributed per place, total employment expenses per cycle and much more.
Globally, I have shown leadership and strategic know-how in guiding large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for supervising payroll techniques, as mentioned by Mark. My role involves managing and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment 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 years of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The intricacies and obstacles of this field have always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of different roles on the provider side and also on the vendor side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I really do hope it's much sunnier than it is 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 extremely extremely bleak and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why business keep different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in adequate 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 reasons most significantly policies compliance data security and banking rules then there are the sheer numbers they include additional complexity 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 more 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll model there's frequently an overwhelming number of different systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in large quantities and or extremely extremely standard there's no real consistency structure we're living in an era of tech but payroll has 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 just blows my mind whenever I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that provides me sleepless nights and rather honestly the more a company invests in international payroll the less of a photo they see a lack of exposure likewise reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction nearly half of international organizations have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors improperly interacted hires and terminations in addition to absence management and system setups and then when you round everything off and the information is delivered to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they rely on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what does not need to be included best and what does
it need 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 time frames 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 important but everywhere you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and innovation is enabling us to type of progress with that it also too to add to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and finance groups work better together than ever um I'm always astonished 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 operate in the payroll profession would they split the payroll payment from calculation 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 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 third parties so with the
world we reside in and well-being being increasingly more important to contribute to kind of the level of complexity there's a growing number of benefits being organ or being used by services throughout the world so once again you're just looking to add a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real obstacles or genuine tough type of pay uses to play to pay people I think yeah I indicate over the last well yeah a couple of years I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to produce additional handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any business has from a cost viewpoint from an impact viewpoint on employees it is definitely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the greatest destructive effect on individuals's well-being and numerous other elements if individuals aren't paid uh I've always been surprised entering this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just see when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's perceived externally as well. Therefore, it is vital to ensure that jobs like Wi-Fi International and other essential matters are done correctly. Using the first Worldwide Payments first payroll payment option is a great preliminary step towards supplying an extensive payroll option for employees worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and bank accounts necessary for worldwide payroll are key consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things don't go as planned. Eventually, we don't do it for the appreciation.
anyhow we know how how essential 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 everybody that's associated with those processes and likewise so envision sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job attempting to clean 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 need days of the week to attempt to check out them and actually see what was going on and type of shot to get back to everybody so carrying on look why do business choose to main separate savings account there are businesses out there doing precisely this for specific countries and I have actually worked in a service or lots of organizations doing exactly that I can state it doesn't always feel effective and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anyone where we don't have to and anybody that's managing 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 believe many reasons one is it's the standard I think individuals have actually got so utilized to we require a brand-new checking account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually 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 ways um to to sort of do it so I think there's a variety I think this is a procedure that needs looking at it needs changing but eventually individuals are really stuck to what they recognize
with right um change is a difficult thing all of us don't like change um so I think it's simply type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having maintaining numerous savings account however there's a substantial quantity of complexity chooses setting up a bank account preserving it ensuring it can send International transfers ensuring it's set up with the right user accesses for private people so the complexity is big however I believe the honest response is change um individuals haven't had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to track and this method does present numerous challenges um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your achievements.
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