Find out more about Papaya Global Payroll Stub ... We now have the capability to handle 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 particularly committed to managing payments. This supplies us with a safe and dependable technique of paying to our 10,000 workers worldwide.}
The advanced worldwide payroll management app streamlines my payroll process, conserving me a significant amount of time each month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
The Employee Portal offers employees with the ability to access and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits packages to global workers regardless of the variety of employees in the company. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source local advantages service providers in every nation, create local accounts and have a minimum variety of employees.
The HR abilities supplied by Worldwide HR encompass different functions such as keeping track of holiday time, ensuring compliance, facilitating the process of welcoming new staff members and bidding goodbye to leaving ones, offering a safe online platform for saving employees' files, and supplying support for work permit treatments in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, total work costs distributed per area, overall employment expenses per cycle and a lot more.
Worldwide, I have actually shown management and strategic knowledge in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My role includes managing and establishing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to staff members 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, regardless of your area. It's a pleasure 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 complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I have actually sort of had a range of different functions on the provider side and also on the vendor side from a payroll point of view so really anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just 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 remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely dreary and I want I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business maintain different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly useful for international companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of maintaining different checking account for payroll in different countries, 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 discuss why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time during this webinar we'll stroll 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 Global payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of factors most significantly guidelines compliance data security and banking rules then there are the sheer numbers they add more complexity the international Labor force is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the conventional payroll model there's often an overwhelming variety of different systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in big quantities and or really very fundamental there's no real consistency structure we're residing in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind whenever I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that provides me sleepless nights and rather honestly the more a service invests in worldwide payroll the less of a picture they see a lack of exposure also reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of global companies have expressed that they do not 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 poor HCM information information entry mistakes badly communicated hires and terminations along with lack management and system configurations and after that when you round all of it off and the information is shipped to the wrong place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run smoothly if they rely on the necessary several procedures 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 challenges business face when they're paying to workers or otherwise that's an excellent question I always toss this back and state what is it what does not need to be consisted of ideal and what does
it need to be thought of there's differing 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 capabilities 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 intricacy any place you look best eventually developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to type of progress with that it also as well to contribute to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work more detailed together than ever um I'm constantly surprised when people 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 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 often 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 anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the compensation landscape is ending up being significantly elaborate. Businesses are continuously introducing new benefits and payment choices, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can result in inadequacies and bottlenecks. In my opinion, this does not need to hold true. In today's highly innovative period, there's no justification for maintaining cumbersome procedures. Payroll, the business's biggest expenditure, must be processed properly and on time. Even slight delays can negatively affect workers' wellness and have significant repercussions. For that reason, it's important to prioritize precise and prompt payments.
payroll team get um so I'm unsure anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this stuff is done correctly so leveraging the first International Payments very first payroll payment service is a fantastic initial step um providing an end-to-end payroll service for your staff members globally once again I believe is another huge um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of businesses and minimizing the number of tools platforms and savings account they need for their Global payroll too could not agree with you more and on the the front in regards to 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 ten or whatever it might be with the with the the grievances where things haven't gone rather where they're suggested to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand how how important 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 simple as possible for everyone that's involved in those processes and likewise so picture sorry I'm just I was just gon na say envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and type of try to get back to everyone so carrying on look why do business pick to main separate checking account there are businesses out there doing exactly this for particular nations and I have actually operated in an organization or lots of services doing exactly that I can state it does not constantly feel effective and it does create more work I know we're not deliberately doing that we're not developing extra work for anybody where we don't need to and anyone 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 lots of reasons one is it's the standard I think people have actually got so used to we need a new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I think this is a process that needs taking a look at it needs changing however ultimately people are very stuck with what they're familiar
with ideal um modification is a hard 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 lot of track of stuff um I understand clearly the advantages of having maintaining numerous savings account however there's a substantial amount of intricacy goes with setting up a bank account preserving it ensuring it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the complexity is substantial however I think the sincere answer is change um people haven't had the ability to change or have not had always the understanding to truly make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century or so there is a lot to monitor and this method does posture several difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a variety 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 jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this improved capability, I have effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide 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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