Find out more about Papaya Global Payroll Investors ... We now have the capability to manage both our payroll and payments procedures 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 supplies us with a safe and secure and trusted technique of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Worker Portal supplies staff members with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global helps business offer competitive benefits bundles to global staff members despite the variety of workers in the company. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source regional benefits companies in every nation, develop regional accounts and have a minimum variety of staff members.
The HR capabilities offered by Worldwide HR include various functions such as keeping track of getaway time, ensuring compliance, facilitating the procedure of inviting new staff members and bidding farewell to leaving ones, using a safe online platform for keeping workers' documents, and providing support for work permit treatments in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall employment costs distributed per place, overall employment costs per cycle and much more.
Worldwide, I have demonstrated management and tactical knowledge in directing massive populations of over 100,000 employees across 170 nations. Presently, I are accountable for supervising payroll methods, as discussed by Mark. My role involves managing and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As an international business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually sort of had a variety of various roles on the service provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually 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 very bleak and I want I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business preserve separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll likewise review a wrap-up which must leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of typical and handling them becomes more and more complicated Global companies are wanting to discover Solutions and new methods to simplify procedures specifically from a payroll and cross-border payment perspective many companies preserve separate savings account just for payroll while some have several accounts in various countries does it make sense for companies to preserve different savings account often in various nations it does however just for payroll is there a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies streamline the episode complex processes of
making payroll payments precisely efficiently safely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll savings account how business accurately forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of factors most importantly guidelines compliance data security and banking rules then there are the sheer numbers they include additional complexity the worldwide Labor force is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll model there's frequently an overwhelming variety of different systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in big amounts and or really really fundamental there's no genuine consistency framework we're residing in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of a photo they see an absence of visibility also extends to payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of international businesses have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes badly communicated hires and terminations along with lack management and system setups and after that when you round it all 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 as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to employees or otherwise that's an excellent question I always toss this back and say what is it what does not need to be included best and what does
it require 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 have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy wherever you look best eventually constructing a knowledge base is absolutely crucial however all over you look with payroll payment they are like incredibly payments no if but 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 definitely essential and innovation is permitting us to kind of progress with that it also as well to contribute to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely important that payroll and finance groups work more detailed together than ever um I'm always surprised when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry 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 any place they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to contribute to kind of the level of intricacy there's more and more advantages being organ or being provided by companies throughout the world so again you're just wanting to add more and more payments to this already complex landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real challenges or genuine challenging sort of pay uses to play to pay individuals I think yeah I mean over the last well yeah a number of years I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding info 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 does not necessarily need to be the case you know long gone are the times where we require to produce additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an age that you know that we are working in today there is no reason we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any company has from an expense perspective from an impact point of view on staff members it is absolutely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive impact on people's well-being and many other aspects if people aren't paid uh I have actually always been impressed entering into this Market type of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just notice when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally as well. Therefore, it is important to ensure that tasks like Wi-Fi Worldwide and other crucial matters are done properly. Using the very first Worldwide Payments very first payroll payment option is an excellent initial action towards providing a thorough payroll solution for employees worldwide. Standardization, global processes, and minimizing the variety of tools, platforms, and bank accounts needed for international payroll are essential factors in attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyhow we understand how how important a function 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 involved in those procedures and also so imagine sorry I'm simply I was simply gon na say picture 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 speaking about numerous thousands potentially Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and sort of shot to get back to everybody so carrying on appearance why do companies select to primary different checking account there are companies out there doing precisely this for specific nations and I've worked in a business or many companies doing exactly that I can say it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not producing extra work for any person where we don't have to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the requirement I believe individuals have actually got so used to we require a brand-new bank account we open an entity and rightly 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 norm the people have adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a range I believe this is a procedure that requires looking at it needs changing but ultimately individuals are very stuck with what they recognize
with best um change is a challenging thing all of us do not like modification um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having maintaining numerous checking account but there's a huge amount of intricacy chooses establishing a bank account preserving it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the complexity is huge but I believe the truthful response is change um people have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might practically be determined to be the next Century or two there is a lot to monitor and this method does posture numerous challenges um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I just did you changed 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 Global employees you deserve a corner workplace with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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