Find out more about Papaya Global Payroll Labor Distribution Split Departments ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a secure and reputable method of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Worker Website offers workers with the ability to access and view essential files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists companies provide competitive benefits packages to worldwide employees regardless of the variety of employees in the business. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every nation, create regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, total employment expenses dispersed per location, total work expenses per cycle and much more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business handling and building external relationships supporting Business clients and options in addition to serving as an advisor for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a satisfaction to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have always mesmerized me.
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've type of had a variety of various roles on the provider side and likewise on the supplier side from a payroll perspective so really anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type 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 type of like see where everybody comes 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 raining here it's extremely very uninspiring and I wish I was somewhere else at this moment in time alright so let's get going our agenda 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
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we'll also review a recap which ought to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more typical and handling them becomes more and more complex Worldwide organizations are wanting to find Solutions and brand-new methods to improve procedures especially from a payroll and cross-border payment viewpoint many companies maintain separate checking account just for payroll while some have multiple accounts in various countries does it make sense for companies to keep different checking account often in various nations it does however just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international business streamline the episode complex procedures of
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how business properly anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in sufficient 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 additional intricacy the international Workforce is currently three and a half billion individuals 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 factor in that there are some 230 million companies and growing all doing their own thing around the globe 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 large amounts and or really very standard there's no real consistency structure we're living in a period of tech but payroll has actually 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 whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather honestly the more a service spends on global payroll the less of a picture they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of global organizations have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry mistakes badly interacted 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 an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they count on the necessary 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 obstacles organization face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and state what is it what does not need to be included right and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you need 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 ideal eventually constructing a knowledge base is definitely vital but everywhere 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 look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is permitting us to sort of move forward with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is absolutely important that payroll and financing groups work more detailed together than ever um I'm always impressed when people state 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 profession 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 frequently 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 however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to contribute to kind of the level of complexity there's increasingly more advantages being organ or being provided by services across the world so again you're just wanting to include a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real challenges or genuine tough kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would certainly state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding information into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we need to produce additional handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason why we are still making this as difficult as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from a cost point of view from an effect perspective on staff members it is definitely crucial that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful result on people's well-being and numerous other elements if people aren't paid uh I've constantly been impressed entering into this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this sort 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 staff members or not um however ultimately payroll is such an essential cycle all of us hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply 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 stuff is absolutely important that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment option is a great primary step um supplying an end-to-end payroll service for your workers worldwide again I think is another substantial um procedure once again aligning and ensuring you have standardization International processes all of those things are absolutely crucial to success success of services and minimizing the number of tools platforms and savings account they require 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 had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 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 don't believe any of us are actually doing that for for the thanks
anyhow we understand how how important 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 simple as possible for everybody that's involved in those processes and likewise so picture sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and kind of try to get back to everybody so moving on appearance why do business select to primary different savings account there are services out there doing exactly this for specific countries and I have actually operated in a service or lots of businesses doing exactly that I can state it doesn't always feel effective and it does develop more work I know we're not deliberately doing that we're not creating extra work for any person where we don't need to and anyone that's dealing with 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 believe numerous factors one is it's the requirement I believe individuals have actually got so used to we need a new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other ways um to to sort of do it so I think there's a range I think this is a process that needs taking a look at it requires altering however eventually individuals are very stuck to what they're familiar
with best um modification is a hard thing we all do not like change um so I believe it's just kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having preserving several bank accounts but there's a big amount of intricacy chooses establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the right user accesses for private people so the complexity is huge but I think the sincere answer is modification um individuals have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to change however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might almost be figured out to be the next Century or two there is a lot to track and this method does present several challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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