Find out more about Papaya Global Raises ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to managing payments. This offers us with a safe and reliable technique of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app simplifies my payroll procedure, conserving me a substantial amount of time each month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Staff member Portal
Employees have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment documents. The website is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive benefits packages to global staff members despite the number of staff members in the company. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local benefits suppliers in every nation, develop local accounts and have a minimum variety of staff members.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total work expenses distributed per place, total employment expenses per cycle and a lot more.
Globally, I have actually shown management and strategic competence in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll methods, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
company to make the time 100 list for many prominent business in the world we provide payroll payments and labor force management to all staff member types in over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon great evening depending on where you are in the world it's charming to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of different functions on the company 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 everybody alright thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays 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 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 certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very very uninspiring and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic asset uh we'll likewise discuss a wrap-up and that needs to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being increasingly more typical and managing them ends up being increasingly more complicated Global organizations are aiming to discover Solutions and brand-new ways to improve processes especially from a payroll and cross-border payment perspective lots of organizations keep separate bank account just for payroll while some have several accounts in different nations does it make good sense for business to preserve different bank accounts in some cases in different nations it does but just for payroll exists a better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international companies improve the episode complex processes of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most notably regulations compliance data security and banking rules then there are the large numbers they add further intricacy the worldwide Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 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 standard payroll design there's often a frustrating number of different systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or really extremely 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 typically with pen and paper and that simply blows my mind whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that provides me sleepless nights and rather frankly the more a company spends on worldwide payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the deal almost half of international companies have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is shipped to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they rely on the required 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 obstacles organization face when they're paying to staff members or otherwise that's a good question I always throw this back and state what is it what does not need to be consisted of best and what does
it need to be thought about there's varying Bank details 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is definitely vital but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to type of progress with that it likewise as well to add to that payroll and financing need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely important that payroll and financing groups work better together than ever um I'm always impressed when people state I have actually divided 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 split the payroll payment from estimation 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 data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on wellness and the settlement landscape is ending up being increasingly detailed. Businesses are constantly introducing brand-new benefits and payment alternatives, which adds to the overall intricacy. Large corporations frequently divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't need to hold true. In today's highly advanced era, there's no justification for maintaining troublesome treatments. Payroll, the company's greatest cost, should be processed correctly and on time. Even slight hold-ups can negatively affect employees' well-being and have significant repercussions. For that reason, it's important to prioritize accurate and timely payments.
payroll group get um so I'm not sure anyone on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think 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 definitely important that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment solution is a great first step um offering an end-to-end payroll solution for your employees worldwide once again I think is another huge um process again aligning and ensuring you have standardization Global procedures all of those things are absolutely key to success success of companies and decreasing the variety of tools platforms and savings account they need 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 don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're suggested to be um I do not believe any of us are really doing that for for the thanks
anyway we understand how how essential 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 everybody that's involved in those processes and also so picture sorry I'm just I was simply gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and actually see what was going on and type of try to get back to everyone so proceeding look why do business pick to main different savings account there are organizations out there doing exactly this for specific nations and I've operated in a business or numerous services doing exactly that I can state it doesn't constantly feel effective and it does develop more work I know we're not intentionally doing that we're not developing additional work for anybody where we do not have to and anyone that's handling 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 numerous factors one is it's the standard I think people have actually got so used to we require a new savings account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs taking a look at it needs altering but ultimately individuals are very stuck to what they're familiar
with right um change is a tough thing we all don't like modification um so I believe it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having preserving numerous checking account but there's a huge quantity of complexity opts for setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the intricacy is big however I believe the sincere response is modification um people have not had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to monitor and this method does posture a number of obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide 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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