Find out more about Papaya Global Uk ... 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 obtained a different Chief Financial Officer specifically committed to managing payments. This offers us with a safe and trusted method of making payments to our 10,000 employees worldwide.}
The advanced international payroll management app simplifies my payroll procedure, saving me a considerable quantity of time every month. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
Staff member Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive benefits plans to worldwide staff members despite the variety of workers in the company. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional benefits companies in every nation, produce local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total employment expenses dispersed per location, total work expenses per cycle and a lot more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work across the business handling and building external relationships supporting Enterprise clients and options as well as acting as an advisor for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's an enjoyment to meet 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 actually concentrated on payroll and payment options for the past seven years. The complexities and obstacles of this field have actually always mesmerized me.
payroll payments and decided 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 roles on the company side and likewise on the supplier side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely gloomy and I wish I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business keep separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of keeping different savings account for payroll in different countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes complex for a variety of reasons most notably regulations compliance data security and banking rules then there are the large numbers they add further intricacy the worldwide Labor force is presently three 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 currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll design there's often an overwhelming number of various systems causing lengthy manual processes and silos the variety of Combinations could be non-existent in big quantities and or extremely really fundamental there's no genuine consistency structure we're living in an era of tech however payroll has been sluggish 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 every time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more a business invests in international payroll the less of an image they see an absence of visibility likewise extends to payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide companies have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is shipped to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they count on the necessary multiple procedures 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 company face when they're making payments to staff members or otherwise that's an excellent question I constantly throw this back and state what is it what does not require 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 amount of time there's payment abilities 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 complexity any place you look ideal eventually building a knowledge base is definitely vital but all over you look with payroll payment they resemble extremely payments no if however some children 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 essential and technology is allowing us to sort of move forward with that it likewise as well to add to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely vital that payroll and finance groups work more detailed together than ever um I'm constantly astonished when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from calculation 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 procedure it's the point of information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of crucial to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being offered by organizations throughout the world so once again you're just looking to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine challenges or real challenging kind of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding information into the next function as it were that's actually handling the payment side of things but you know in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we operate in they just make them more timely they make them less effective and they do not make them what they need 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 challenging as it needs to be agreed and rightly as you said payroll is the single biggest liability that any organization has from an expense point of view from an impact viewpoint on workers it is absolutely 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 have to be done right it has the most significant harmful result on people's wellness and lots of other factors if people aren't paid uh I have actually always been impressed entering into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment solution is a great first step um offering an end-to-end payroll solution for your employees globally again I think is another big um process once again aligning and ensuring you have standardization Global processes all of those things are definitely key to success success of services and decreasing the number of tools platforms and bank accounts they require for their Worldwide payroll too could not 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 thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're implied to be um I do not think any of us are actually doing that for for the thanks
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 everybody that's involved in those procedures and also so imagine sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task trying to clean up all those up for sure oh absolutely 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 in fact see what was going on and kind of try to get back to everyone so proceeding look why do business select to main separate checking account there are businesses out there doing precisely this for particular countries and I have actually worked in a business or lots of organizations doing precisely that I can state it does not always feel effective and it does produce more work I understand we're not purposely doing that we're not creating additional work for anyone where we don't need to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the requirement I believe people have got so utilized to we require a new savings account we open an entity and rightly so you require 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 standard and the standard the people have adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I believe this is a process that requires looking at it needs changing but eventually people are really stuck to what they recognize
with ideal um change is a difficult thing all of us don't like change um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having keeping numerous bank accounts but there's a big amount of complexity chooses establishing a bank account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for specific individuals so the intricacy is substantial but I think the honest response is change um individuals haven't had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century or so there is a lot to monitor and this approach does position numerous obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I recently made a change 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 gotten another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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