Find out more about Papaya Global Uk ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and dependable approach of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app streamlines my payroll procedure, conserving me a substantial amount of time each month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Worker Website
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages plans to global workers despite the variety of workers in the company. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, create local accounts and have a minimum number of employees.
The HR abilities offered by Worldwide HR encompass various functions such as keeping track of getaway time, making sure compliance, helping with the process of welcoming new workers and bidding goodbye to leaving ones, providing a secure online platform for storing workers' files, and supplying assistance for work permit treatments in case your employees require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total employment costs distributed per place, overall employment expenses per cycle and far more.
Internationally, I have shown management and tactical competence in assisting massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for managing payroll strategies, as mentioned by Mark. My function involves managing and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of various roles on the supplier side and likewise on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort 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 sunlight is it it's not no it's it's raining here it's really really uninspiring and I wish I was somewhere else 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 handling Global payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical asset uh we'll also go over a wrap-up and that needs to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more typical and managing them ends up being increasingly more complex Global companies are looking to find Solutions and new methods to streamline processes especially from a payroll and cross-border payment viewpoint lots of organizations maintain different bank account just for payroll while some have several accounts in different nations does it make sense for business to keep separate savings account in some cases in various countries it does but just for payroll is there a better way what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies streamline the episode complex processes of
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll expenses to enhance working capital, and find how improving worldwide payroll payments can change them from a troublesome job into a strategic property.
Handling payroll worldwide is a complicated job due to various policies, compliance requirements, data security issues, and banking rules. The large variety of staff members and companies contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically result in manual procedures, data silos, and a lack of combination, leading to disparities and inadequacies. In spite of living in a period of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to supply insights and services to simplify and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite frankly 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 properly track these payments can cause compliance accidents in the last mile of the transaction almost half of global services have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors inadequately communicated hires and terminations in addition to absence management and system setups and then when you round everything off and the data is delivered to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need 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 perspective and in your experience what else requires to be factored into the difficulties service face when they're paying to employees or otherwise that's a good question I always throw this back and say what is it what does not need to be included right and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 need to pay from the client's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link in 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 innovation is enabling us to sort of progress with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and finance groups work more detailed together than ever um I'm constantly astonished when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more essential to add to sort of the level of intricacy there's a growing number of benefits being organ or being offered by services throughout the world so once again you're just wanting to include a growing number of payments to this already complicated landscape so if you sort of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine difficulties or genuine challenging type of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of decades I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding info into the next function as it were that's really handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we require to produce additional handoffs while doing sos that we run in they simply make them more timely they make them less effective and they don't make them what they require to be in in an age of tech and a period that you know that we are working in today there is no reason why we are still making this as difficult as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any organization has from an expense perspective from an impact perspective on employees it is definitely crucial 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 detrimental impact on individuals's well-being and lots of other elements if people aren't paid uh I have actually constantly been amazed coming into this Market sort of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails however 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 also like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the very first Global Payments first payroll payment service is an excellent primary step um offering an end-to-end payroll service for your workers worldwide once again I think is another big um process again lining up and ensuring you have standardization Global procedures all of those things are definitely key to success success of services and lowering the number of tools platforms and bank accounts they need for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of 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 complaints where things have not gone quite where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 procedures and likewise so picture sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task trying to clean up all those up for sure oh definitely I can't think of 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 return to everyone so proceeding look why do companies choose to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I've worked in a company or lots of organizations doing exactly that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anyone where we do not need to and anyone that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I believe people have actually got so used to we require a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I believe this is a process that needs taking a look at it needs altering however ultimately people are extremely stuck with what they recognize
with ideal um modification is a difficult thing all of us don't like change um so I believe it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having preserving numerous bank accounts but there's a huge quantity of intricacy opts for establishing a savings account keeping it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is substantial however I think the sincere response is change um people have not been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change but we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century or two there is a lot to keep an eye on and this method does pose several difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this improved capability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your achievements.
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