Find out more about Papaya Global Courses Cost ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a secure and trusted technique of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Staff member Portal supplies staff members with the ability to access and view important documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to worldwide workers no matter the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every nation, create regional accounts and have a minimum number of workers.
The HR capabilities offered by International HR incorporate various functions such as monitoring getaway time, making sure compliance, facilitating the procedure of welcoming brand-new employees and bidding farewell to departing ones, using a safe online platform for storing employees' files, and providing support for work allow treatments in case your staff members need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, total employment expenses dispersed per location, overall employment costs per cycle and far more.
Worldwide, I have shown leadership and tactical competence in assisting massive populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for overseeing payroll strategies, as discussed by Mark. My function involves handling and developing external partnerships, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for a lot of prominent business on the planet we offer payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent evening depending upon where you remain in the world it's beautiful to meet you and thank you very much 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 market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually type of had a range of different functions on the provider side and likewise on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds approximately to join all of us 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 everyone comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really very uninspiring and I wish I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies maintain separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya International payroll payments as a tactical possession uh we'll also discuss a recap which must leave his time at the very really end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of typical and handling them ends up being increasingly more intricate International companies are looking to discover Solutions and brand-new ways to streamline procedures particularly from a payroll and cross-border payment standpoint many organizations maintain different bank account just for payroll while some have multiple accounts in different countries does it make good sense for companies to maintain different bank accounts in some cases in different nations it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational business streamline the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, discover how companies forecast payroll expenses to optimize working capital, and find how enhancing worldwide payroll payments can transform them from a difficult job into a tactical property.
Managing payroll globally is a daunting task due to numerous guidelines, compliance requirements, information security issues, and banking rules. The sheer variety of staff members and organizations adds to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and inadequacies. In spite of residing in an age of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to offer insights and services to simplify and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more a business invests in global payroll the less of a photo they see a lack of presence likewise extends to payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction nearly half of worldwide companies have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors inadequately interacted hires and terminations as well as lack management and system setups and after that when you round it all off and the information is delivered to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they rely on the required multiple processes 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 service face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what does not need to be included ideal and what does
it need to be considered there's differing 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 have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity anywhere you look best eventually constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to kind of move on with that it also too to add to that payroll and financing require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance teams work better together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation 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 information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to add to type of the level of intricacy there's a growing number of benefits being organ or being used by businesses across the world so once again you're simply seeking to add a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real difficulties or genuine challenging sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding info into the next function as it were that's actually managing the payment side of things but 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 produce extra handoffs at the same times that we run in they just make them more timely they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you understand that we are working in today there is no reason why we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single most significant liability that any service has from a cost perspective from an effect viewpoint on employees it is absolutely crucial that it's done properly and on time so what we imply 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 damaging effect on people's well-being 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 10 years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just see when things fail. However, when things go right, it's viewed as simply a routine task. This is how it's viewed externally also. Therefore, it is important to guarantee that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the first International Payments very first payroll payment solution is a great preliminary step towards supplying an extensive payroll solution for staff members worldwide. Standardization, worldwide processes, and lowering the variety of tools, platforms, and bank accounts needed for worldwide payroll are crucial factors in accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyway we understand how how important 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 likewise so think of sorry I'm simply I was just gon na say think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task trying to clean all those up for sure oh absolutely I can't envision 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 really see what was going on and sort of shot to get back to everybody so proceeding look why do business choose to main separate checking account there are businesses out there doing exactly this for particular countries and I've operated in an organization or many services doing precisely 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 any person where we do not need to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the standard I believe people have actually got so used to we need a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I think this is a procedure that requires taking a look at it requires altering however ultimately individuals are very stuck to what they recognize
with ideal um modification is a tough thing all of us don't like modification um so I think it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having preserving several savings account however there's a huge quantity of intricacy goes with setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific individuals so the intricacy is substantial but I think the truthful answer is change um individuals have not had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might practically be identified to be the next Century or so there is a lot to track and this approach does position numerous difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this improved ability, I have effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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