Find out more about Papaya Global Affiliate ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and reputable approach of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Employee Website
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to worldwide workers regardless of the variety of staff members in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source regional advantages providers in every nation, develop regional accounts and have a minimum number of employees.
The HR abilities supplied by Worldwide HR include various functions such as monitoring vacation time, ensuring compliance, assisting in the process of welcoming new employees and bidding goodbye to departing ones, using a protected online platform for keeping employees' documents, and providing support for work permit procedures in case your workers need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall work expenses dispersed per area, total work costs per cycle and far more.
Globally, I have actually shown management and tactical proficiency in assisting large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for supervising payroll methods, as discussed by Mark. My role involves handling and establishing external partnerships, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past 7 years. The intricacies and challenges of this field have actually constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've type of had a variety of various roles on the supplier side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just 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 quite interesting and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually 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 extremely extremely uninspiring and I want I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a tactical possession uh we'll also go over a recap and that ought to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more common and managing them ends up being more and more complicated International organizations are seeking to discover Solutions and brand-new methods to streamline procedures particularly from a payroll and cross-border payment standpoint many companies keep separate checking account just for payroll while some have several accounts in various nations does it make sense for companies to preserve different savings account sometimes in different countries it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies simplify the episode complex processes of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for organizations running globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to enhance working capital, and discover how enhancing worldwide payroll payments can change them from a difficult job into a strategic property.
Handling payroll worldwide is a complicated task due to numerous policies, compliance requirements, information security issues, and banking rules. The large number of workers and businesses contributes to the intricacy, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often result in manual procedures, data silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Despite residing in a period of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to supply insights and services to simplify and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a company spends on international payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide services have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors improperly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the data is shipped to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they count on the needed numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're paying to employees or otherwise that's a good concern I constantly throw this back and say what is it what does not require to be consisted of ideal and what does
it require to be considered there's varying Bank details 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 need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look ideal eventually building a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if but some children 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 acknowledgment that payroll payments are definitely basic and technology is allowing us to sort of move on with that it also as well to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely important that payroll and financing teams work closer together than ever um I'm always surprised when people say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 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 however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to add to type of the level of complexity there's a growing number of benefits being organ or being provided by services throughout the world so again you're just looking to add more and more payments to this currently intricate landscape so if you sort 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 obstacles or real tough sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to develop extra handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason why we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any business has from an expense viewpoint from an effect viewpoint on employees it is definitely important 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 have to be done right it has the most significant damaging impact on people's well-being and numerous other elements if individuals aren't paid uh I've constantly been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's perceived externally as well. For that reason, it is vital to guarantee that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the first Global Payments very first payroll payment option is an excellent preliminary action towards offering a detailed payroll option for employees worldwide. Standardization, international processes, and lowering the variety of tools, platforms, and bank accounts required for international payroll are key consider accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as prepared. Eventually, we don't do it for the thankfulness.
anyhow we know how how essential 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 everyone that's involved in those procedures and likewise so picture sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and sort of try to get back to everybody so moving on look why do business select to primary separate bank accounts there are organizations out there doing precisely this for particular countries and I have actually operated in a business or many services doing precisely that I can state it doesn't constantly feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for anybody where we do not need to and any person that's dealing with that procedure 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 think people have got so used to we require a new bank account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires changing however eventually people are very stuck to what they're familiar
with best um modification is a tough thing all of us don't like modification um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having preserving numerous savings account however there's a huge amount of intricacy chooses establishing a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private people so the complexity is huge however I think the honest answer is change um people have not been able to change or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might almost be determined to be the next Century or two there is a lot to monitor and this method does pose a number of difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I simply did you switched 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 workers you are worthy of a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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