Find out more about Papaya Global Cloud Based ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and reputable approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
Employee Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax declarations and employment files. The portal 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 global staff members regardless of the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source regional benefits companies in every nation, produce local accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, total work expenses dispersed per location, total employment expenses per cycle and far more.
environments across the globe I provided leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and structure external relationships supporting Enterprise customers and options along with acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for most prominent companies in the world we offer payroll payments and workforce management to all staff member types in over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great night depending on where you remain in the world it's beautiful to meet 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 remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've type of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing 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 everybody originates 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 raining here it's very very bleak and I want I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll likewise review a wrap-up and that ought to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more typical and handling them ends up being increasingly more intricate Worldwide companies are aiming to find Solutions and new methods to streamline processes particularly from a payroll and cross-border payment perspective many organizations preserve separate checking account just for payroll while some have several accounts in different countries does it make sense for business to maintain different checking account in some cases in different nations it does but just for payroll is there a much better way what role do virtual accounts and digital wallets also called virtual wallets play in assisting multinational companies enhance the episode complex procedures of
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they add additional intricacy the worldwide Workforce is presently three and a half billion people by 2030 it's approximated 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 businesses and growing all doing their own thing all over the world in the conventional payroll model there's frequently an overwhelming number of various systems leading to lengthy manual processes and silos the variety of Combinations could be non-existent in large amounts and or extremely very standard there's no real consistency framework we're residing in a period of tech but 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 and that simply blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization invests in worldwide payroll the less of an image they see an absence of presence likewise extends to payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of global services have expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes improperly interacted hires and terminations in addition to lack management and system setups and then when you round all of it off and the data is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they rely on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business face when they're making payments to employees or otherwise that's an excellent question I always toss this back and say what is it what doesn't need to be consisted of best and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 complexity any place you look ideal ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to kind of move on 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 procedures is absolutely crucial that payroll and financing groups work better together than ever um I'm constantly astonished when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 often split and cut up um ultimately 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 a growing number of essential to add to sort of the level of intricacy there's more and more advantages being organ or being provided by companies throughout the world so once again you're simply looking to add more and more payments to this already complex landscape so if you kind 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 difficult kind of pay uses to play to pay people I believe yeah I mean over the last well yeah a couple of decades I would certainly 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 teams feeding details into the next function as it were that's really managing the payment side of things however you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to create extra handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you know that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from a cost point of view from an effect point of view on staff members it is absolutely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental impact on people's wellness and lots of other elements if people aren't paid uh I've constantly been impressed coming into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this kind 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 employees or not um however eventually payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe 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 stuff is definitely essential that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment option is a fantastic initial step um providing an end-to-end payroll option for your staff members globally once again I think is another huge um procedure again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of organizations and decreasing the variety of tools platforms and bank accounts they require for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of 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 grievances where things haven't gone rather where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 associated with those procedures and also so picture sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely 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 try to check out them and actually see what was going on and type of try to get back to everyone so proceeding appearance why do companies choose to primary different savings account there are organizations out there doing exactly this for specific nations and I have actually worked in an organization or lots of organizations doing precisely that I can state it doesn't always feel efficient and it does create more work I understand we're not intentionally doing that we're not developing extra work for anyone where we do not need to and anybody 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 quantity that we are I believe many factors one is it's the requirement I believe people have actually got so utilized to we need a new checking 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 norm individuals have actually 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 methods um to to sort of do it so I believe there's a range I think this is a process that needs taking a look at it needs changing however eventually people are very stuck to what they recognize
with ideal um change is a difficult thing we all do not like change um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having maintaining multiple checking account however there's a big amount of intricacy opts for establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for specific people so the complexity is substantial but I believe the honest answer is modification um individuals haven't had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might almost be determined to be the next Century or two there is a lot to keep an eye on and this approach does pose numerous difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a range 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 Worldwide employees you deserve a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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