Find out more about Papaya Global For Mac ... We now have the capability to manage 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 specifically dedicated to handling payments. This provides us with a safe and secure and dependable method of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app enhances my payroll process, saving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Staff member Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to international workers no matter the number of employees in the company. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source regional advantages companies in every nation, create regional accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall work costs dispersed per area, overall work costs per cycle and a lot more.
Globally, I have actually demonstrated leadership and tactical knowledge in guiding massive populations of over 100,000 staff members across 170 countries. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for a lot of prominent companies in the world we supply payroll payments and labor force management to all staff member enters over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon excellent evening depending on where you are 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 have actually been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've type of had a range of various roles on the provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really very gloomy and I want I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical property uh we'll also go over a recap and that ought to leave his time at the very very 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 become more and more common and managing them becomes increasingly more intricate International companies are aiming to find Solutions and new methods to improve processes particularly from a payroll and cross-border payment standpoint numerous companies maintain separate checking account just for payroll while some have multiple accounts in various countries does it make sense for business to keep different checking account in some cases in different nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business streamline the episode complex processes of
making payroll payments properly efficiently securely and on time throughout this webinar we'll walk 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 property so payroll can be difficult in sufficient in one country but when you're doing it globally it's next level and Beyond it becomes complex for a variety of reasons most notably regulations compliance data security and banking guidelines then there are the sheer numbers they include more intricacy the international Labor force is presently 3 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 factor in that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll design there's often an overwhelming variety of different systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or extremely really basic there's no genuine consistency structure we're living in an age of tech however 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 which simply blows my mind every time I I think
about it to provide you a concept 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 provides me sleep deprived nights and rather frankly the more a business invests in international payroll the less of a photo they see an absence of visibility likewise extends to payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide businesses have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes badly communicated hires and terminations along with lack management and system setups and after that when you round everything off and the information is shipped to the incorrect location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the essential numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles company face when they're paying to employees or otherwise that's a good concern I constantly toss this back and state what is it what does not require to be consisted of right 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 country there's payment amount of time there's payment capabilities 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 consumer's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is absolutely important 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 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 definitely essential and innovation is allowing us to kind of progress with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm always amazed when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split 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 data collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high worth on well-being and the settlement landscape is becoming significantly detailed. Services are constantly presenting brand-new advantages and payment options, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can cause inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's technically advanced era, there's no justification for preserving troublesome treatments. Payroll, the company's most significant expense, need to be processed correctly and on time. Even slight hold-ups can negatively impact employees' wellness and have significant effects. For that reason, it's important to focus on precise and timely payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just discover when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally also. For that reason, it is vital to guarantee that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the first Global Payments first payroll payment service is a terrific preliminary step towards providing a detailed payroll service for employees worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and checking account required for global payroll are key factors in attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things do not go as planned. Eventually, we do not do it for the appreciation.
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 likewise so envision sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and sort of try to return to everyone so carrying on look why do business pick to primary different savings account there are companies out there doing exactly this for particular countries and I've worked in a service or numerous services doing exactly that I can say it does not constantly feel efficient and it does create more work I know we're not intentionally doing that we're not creating 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 amount that we are I think many factors one is it's the requirement I think people have actually got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll functions however there are a number 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 passed by to contribute to that people have actually taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I believe this is a process that requires taking a look at it needs changing but eventually individuals are really stuck to what they're familiar
with ideal um modification is a difficult thing all of us do not like change um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having keeping multiple checking account but there's a substantial amount of intricacy chooses establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is huge however I think the truthful response is modification um individuals have not had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to change however we have actually always done it that way is no genuine reason for not taking a look at the the benefits 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 monitor and this method does present several difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this boosted ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your accomplishments.
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