Find out more about Papaya Global Database Needs To Be Repaired ... 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 obtained a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and reputable method of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Staff member Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and work files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive benefits bundles to international workers no matter the number of staff members in the business. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every nation, develop local accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total employment expenses distributed per area, total employment costs per cycle and far more.
Internationally, I have demonstrated leadership and tactical proficiency in directing large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for managing payroll methods, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
company to make the time 100 list for most prominent business in the world we supply payroll payments and workforce management to all employee types in over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon good evening depending on where you remain in the world it's beautiful to satisfy 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 remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually kind of had a variety of different functions on the supplier side and also on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everybody another couple 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 quite interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually 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 really extremely dreary and I wish I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a tactical possession uh we'll also go over a recap which should leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more common and managing them ends up being increasingly more complex Global organizations are looking to find Solutions and new methods to simplify procedures especially from a payroll and cross-border payment viewpoint lots of companies keep separate checking account just for payroll while some have multiple accounts in various countries does it make sense for companies to maintain separate bank accounts often in different nations it does however just for payroll is there a better way what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational business enhance the episode complex processes of
making payroll payments accurately efficiently safely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how business properly forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in sufficient in one country but when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most significantly guidelines compliance data security and banking rules then there are the sheer numbers they include more complexity the worldwide Workforce is presently 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 presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll model there's typically an overwhelming variety of various systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or really very standard there's no real consistency framework we're living in a period of tech but payroll has 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 just blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more a company spends on international payroll the less of a photo they see a lack of presence also reaches payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of worldwide businesses have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors badly interacted hires and terminations along with absence management and system setups and after that when you round it all off and the data is delivered to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're paying to staff members or otherwise that's an excellent concern I always toss this back and state what is it what does not require to be consisted of ideal and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 anywhere you look ideal ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is permitting us to type of move forward with that it likewise as well to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely necessary that payroll and financing teams work closer 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 anybody what is payroll who does not work in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically 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 anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming progressively complex. Organizations are continually presenting brand-new benefits and payment options, which contributes to the total complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly sophisticated era, there's no validation for keeping cumbersome treatments. Payroll, the business's biggest expenditure, should be processed properly and on time. Even minor delays can adversely impact employees' wellness and have significant effects. Therefore, it's important to focus on precise and timely payments.
payroll group get um so I'm not sure anybody on this sort of webinar has been told 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 but ultimately payroll is such an essential cycle we all become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box exercise 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 things is absolutely vital that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment service is a terrific first step um supplying an end-to-end payroll service for your employees worldwide again I think is another huge um process again lining up and guaranteeing you have standardization Global processes all of those things are absolutely essential to success success of services and decreasing the number of tools platforms and savings account they need 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 suggested to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand how how essential 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 easy as possible for everyone that's associated with those processes and also so picture sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting 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 in fact see what was going on and sort of try to return to everyone so proceeding look why do business pick to primary separate savings account there are companies out there doing precisely this for specific nations and I have actually operated in an organization or lots of organizations doing precisely that I can say it does not constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not producing extra work for anyone where we don't have to and anybody that's handling that process I 'd be interested to hear your thoughts Johnny why do you think 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 think people have actually got so utilized to we need a new savings account we open an entity and rightly 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 simply been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a procedure that needs looking at it needs altering but ultimately people are extremely stuck to what they're familiar
with ideal um modification is a difficult thing we all don't like change um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having preserving numerous bank accounts but there's a big amount of intricacy chooses setting up a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific people so the intricacy is huge however I think the honest response is modification um people haven't been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we've constantly 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 know what might almost be identified to be the next Century or so there is a lot to keep track of and this method does present a number of obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like 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 because I mastered Global payroll and payments with Papaya payroll OS did you
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