Find out more about Papaya Global Login ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and dependable technique of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app streamlines my payroll process, saving me a substantial quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
The Staff member Portal provides staff members with the ability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global helps business use competitive benefits plans to worldwide workers despite the number of employees in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local benefits suppliers in every country, develop local accounts and have a minimum variety of employees.
The HR capabilities offered by International HR incorporate various functions such as keeping an eye on holiday time, guaranteeing compliance, facilitating the procedure of inviting brand-new employees and bidding goodbye to leaving ones, providing a protected online platform for storing workers' documents, and providing assistance for work allow treatments in case your employees require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total work expenses dispersed per area, overall employment expenses per cycle and a lot more.
Globally, I have actually shown management and strategic knowledge in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for managing payroll strategies, as mentioned by Mark. My function includes handling and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for most influential business worldwide we provide payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon good evening depending upon where you are in the world it's lovely to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually type of had a range of different functions on the supplier side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or so 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 simply to hear where everybody is um it's nice to to kind of like see where everybody comes 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 really extremely bleak and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic possession uh we'll also review a recap which ought to leave his time at the very very 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 labor forces end up being increasingly more common and handling them becomes more and more intricate Global companies are looking to find Solutions and new methods to enhance procedures particularly from a payroll and cross-border payment standpoint lots of organizations maintain separate bank account just for payroll while some have multiple accounts in various nations does it make sense for business to maintain separate checking account in some cases in various nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business improve the episode complex processes 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 checking account how companies properly anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in sufficient in one nation however when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most notably guidelines compliance information security and banking guidelines then there are the large numbers they include further complexity the global Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll model there's often a frustrating number of different systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in large amounts and or really really standard there's no real consistency framework we're residing in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more a service spends on international payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of global companies 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 errors are because of time reporting poor HCM information information entry errors improperly 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 average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they count on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're making payments to workers or otherwise that's an excellent question I always throw this back and say what is it what doesn't require to be included ideal and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment capabilities 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 any place you look right ultimately constructing a knowledge base is definitely important but everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to sort of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely imperative that payroll and finance groups work better together than ever um I'm constantly impressed when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of information 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 modern-day world puts a high worth on well-being and the settlement landscape is ending up being progressively detailed. Companies are continually presenting brand-new advantages and payment options, which adds to the total complexity. Large corporations often divide their payroll and payment processing into separate teams, which can cause ineffectiveness and bottlenecks. In my viewpoint, this does not have to be the case. In today's technically sophisticated period, there's no validation for keeping cumbersome procedures. Payroll, the company's biggest cost, should be processed properly and on time. Even small hold-ups can negatively impact staff members' well-being and have far-reaching repercussions. For that reason, it's important to prioritize accurate and timely payments.
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only observe when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally too. For that reason, it is necessary to ensure that jobs like Wi-Fi Global and other essential matters are done correctly. Using the first Worldwide Payments first payroll payment service is a terrific initial step towards offering a detailed payroll solution for employees worldwide. Standardization, global processes, and minimizing the variety of tools, platforms, and bank accounts essential for international payroll are crucial consider attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things do not go as prepared. Ultimately, we do not do it for the appreciation.
anyway we know how how essential a role 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 easy as possible for everyone that's associated with those procedures and likewise so think of sorry I'm simply I was just gon na say picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and sort of shot to get back to everyone so proceeding look why do companies select to primary separate savings account there are businesses out there doing precisely this for particular nations and I've worked in a business or many companies doing precisely that I can state it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not producing extra work for anybody where we don't need to and anyone that's handling 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 amount that we are I believe numerous reasons one is it's the standard I think people have actually got so utilized to we require a new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and many other methods um to to type of do it so I think there's a variety I think this is a procedure that needs looking at it requires altering but eventually people are really stuck to what they recognize
with ideal um modification is a challenging thing all of us don't like modification um so I think it's just sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having keeping several savings account but there's a huge amount of intricacy goes with setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is huge but I think the truthful answer is modification um people haven't had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century or two there is a lot to track and this technique does posture numerous difficulties 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 switched our Enterprise 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 International workers you deserve a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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