Find out more about Papaya Global Clear Locks ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a protected and dependable approach of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Worker Website
Workers have access to an Employee Portal where they can see 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 business provide competitive advantages plans to worldwide workers no matter the variety of staff members in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source local advantages companies in every country, develop local accounts and have a minimum number of employees.
The HR abilities supplied by Global HR include numerous functions such as keeping an eye on trip time, guaranteeing compliance, assisting in the procedure of welcoming brand-new employees and bidding farewell to departing ones, providing a safe online platform for saving employees' files, and providing support for work permit treatments in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall work expenses dispersed per location, overall employment expenses per cycle and a lot more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business handling and structure external relationships supporting Enterprise clients and solutions as well as acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and obstacles of this field have always captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone originates 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 gloomy and I wish I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll likewise review a recap and that needs to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more typical and handling them ends up being more and more intricate International companies are seeking to discover Solutions and new ways to enhance procedures particularly from a payroll and cross-border payment perspective lots of companies keep separate savings account just for payroll while some have numerous accounts in various countries does it make good sense for companies to keep different bank accounts sometimes in various nations it does however just for payroll is there a better method what function do virtual accounts and digital wallets also called virtual wallets play in helping international companies streamline the episode complex processes of
making payroll payments precisely efficiently firmly and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how business properly anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most importantly regulations compliance data security and banking rules then there are the sheer numbers they include additional complexity the global Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll model there's typically an overwhelming number of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in large amounts and or very extremely standard there's no real consistency framework we're residing in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business invests in worldwide payroll the less of a picture they see a lack of exposure also extends to payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the deal almost half of international organizations have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors poorly interacted hires and terminations along with absence management and system setups and after that when you round all of it off and the data is shipped to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they rely on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties company face when they're making payments to staff members or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't require to be consisted of ideal and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 complexity any place you look best eventually constructing a knowledge base is absolutely critical but all over you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is permitting us to type of progress with that it also as well to add to that payroll and finance require to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm constantly surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more crucial to contribute to type of the level of intricacy there's a growing number of benefits being organ or being provided by companies across the world so again you're simply seeking to include a growing number of 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 real challenges or real challenging sort of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would absolutely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to create extra handoffs in the processes that we operate in they just make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and a period that you understand that we are operating in today there is no reason why we are still making this as challenging as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any organization has from an expense point of view from an effect perspective on staff members it is definitely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful impact on individuals's wellness and lots of other elements if individuals aren't paid uh I have actually constantly been impressed entering into this Market kind of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only notice when things go wrong. However, when things go right, it's seen as just a regular task. This is how it's perceived externally too. For that reason, it is necessary to make sure that jobs like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the first International Payments very first payroll payment service is an excellent preliminary action towards providing a detailed payroll solution for staff members worldwide. Standardization, global processes, and lowering the number of tools, platforms, and savings account essential for worldwide payroll are crucial consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyway we know how how crucial 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 simple as possible for everybody that's associated with those processes and also so picture sorry I'm just I was simply gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially 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 certainly be a fascinating task trying to clean all those up for sure oh absolutely I can't picture 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 really see what was going on and kind of shot to return to everyone so proceeding appearance why do companies select to main different bank accounts there are businesses out there doing precisely this for particular nations and I have actually operated in a service or many organizations doing exactly that I can state it doesn't constantly feel efficient and it does create more work I know we're not purposely doing that we're not creating extra work for anybody where we don't have to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe many reasons one is it's the standard I think people have actually got so utilized to we require a brand-new bank account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I believe this is a process that needs looking at it needs altering but eventually people are very stuck with what they're familiar
with ideal um change is a challenging thing we all do not like modification um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having keeping several savings account however there's a huge quantity of intricacy chooses setting up a savings account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the complexity is huge however I think the sincere response is change um people have not had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century approximately there is a lot to keep track of and this approach does position a number of difficulties um so Johnny might you inform us about those difficulties yeah of course 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 manage our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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