Find out more about Papaya Global Free Trial ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and dependable technique of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
Staff member Website
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to international staff members despite the number of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source local benefits providers in every nation, develop local accounts and have a minimum variety of workers.
The HR abilities provided by International HR include various functions such as monitoring trip time, ensuring compliance, assisting in the procedure of welcoming brand-new employees and bidding farewell to departing ones, offering a safe and secure online platform for saving employees' documents, and offering assistance for work permit procedures in case your workers need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total employment costs distributed per place, overall employment expenses per cycle and much more.
Internationally, I have actually demonstrated leadership and tactical competence in assisting large-scale populations of over 100,000 workers across 170 nations. Presently, I am responsible for managing payroll techniques, as pointed out by Mark. My role includes managing and developing 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 service provider.
business to make the time 100 list for a lot of influential business in the world we provide payroll payments and workforce management to all staff member key ins 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 good afternoon great evening depending upon where you remain in the world it's lovely 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 interested by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've type of had a range of various functions on the supplier side and also on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days 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 everybody is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really gloomy and I wish I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge 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 costs utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic possession uh we'll also go over a recap and that must leave his time at the extremely 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 International workforces end up being more and more typical and handling them becomes a growing number of intricate Global companies are looking to find Solutions and brand-new methods to streamline processes specifically from a payroll and cross-border payment perspective lots of organizations preserve separate savings 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 various countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational companies improve the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to enhance working capital, and find how enhancing global payroll payments can transform them from a challenging job into a strategic property.
Managing payroll internationally is an overwhelming job due to numerous regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of workers and services adds to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual processes, information silos, and an absence of integration, leading to disparities and inefficiencies. Regardless of living in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and services to simplify and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more a service invests in worldwide payroll the less of an image they see an absence of exposure also extends to payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide companies have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors badly interacted hires and terminations in addition to lack management and system setups and then when you round it all off and the data is delivered to the wrong place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they rely on the required several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company 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 need to be consisted of right and what does
it require to be thought of there's differing Bank information 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 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 customer's own in-country account so there's intricacy wherever you look best eventually constructing a knowledge base is definitely critical 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 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 definitely essential and innovation is enabling us to type of move on with that it likewise as well to add to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely vital that payroll and financing teams work more detailed together than ever um I'm always surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more crucial to contribute to type of the level of complexity there's more and more benefits being organ or being offered by services throughout the world so once again you're simply looking to include increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine difficulties or real challenging sort of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a number of years I would definitely state that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding details 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 does not always need to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we run in they just make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you know that we are working in today there is no reason why we are still making this as hard as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any business has from an expense perspective from an effect viewpoint on employees it is absolutely critical that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive impact on individuals's well-being and many other elements if individuals aren't paid uh I have actually always been amazed entering this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however eventually payroll is such an important cycle we all find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I think 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 stuff is done properly so leveraging the very first Global Payments very first payroll payment solution is a fantastic initial step um providing an end-to-end payroll service for your employees internationally once again I think is another huge um procedure again lining up and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of organizations and lowering the number of tools platforms and checking account they require for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyway we know 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 easy as possible for everyone that's involved in those processes and likewise so picture sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task 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 try to browse them and actually see what was going on and sort of shot to get back to everybody so carrying on look why do business choose to main separate bank accounts there are services out there doing precisely this for specific countries and I've worked in a business or numerous businesses doing precisely that I can state it does not constantly feel efficient and it does create more work I know we're not purposely doing that we're not developing additional work for anybody where we do not need to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the standard I believe people have actually got so utilized to we require a new checking account we open an entity and appropriately 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 standard and the standard individuals have adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I believe this is a process that needs looking at it requires changing however eventually people are very stuck to what they're familiar
with right um change is a challenging thing all of us don't like modification um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having maintaining several checking account however there's a huge quantity of intricacy opts for setting up a bank account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is big but I think the truthful answer is change um individuals haven't had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to alter however we've 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 almost be determined to be the next Century or two there is a lot to monitor and this method does present several obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I just did you switched 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 staff members you are worthy of a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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