Find out more about Papaya Global Help Number ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and reputable technique of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app simplifies my payroll process, conserving me a substantial quantity of time every month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Employee Website provides staff members with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global assists business use competitive benefits plans to international employees regardless of the variety of staff members in the company. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional advantages companies in every country, produce regional accounts and have a minimum variety of workers.
The HR abilities provided by Global HR encompass various functions such as keeping track of getaway time, ensuring compliance, assisting in the process of inviting brand-new employees and bidding goodbye to departing ones, using a protected online platform for keeping employees' documents, and supplying support for work allow procedures in case your staff members need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall work costs distributed per place, overall employment expenses per cycle and much more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business managing and building external relationships supporting Enterprise customers and solutions along with serving as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I have actually sort of had a range of different functions on the service provider side and also on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it remains 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 extremely extremely dreary and I want I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll likewise discuss a recap which needs to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more typical and handling them becomes more and more complex International companies are looking to find Solutions and new ways to simplify procedures especially from a payroll and cross-border payment viewpoint many companies maintain different bank account just for payroll while some have multiple accounts in various nations does it make good sense for business to keep separate bank accounts often in different countries it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business enhance the episode complex processes of
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in adequate in one country but when you're doing it internationally it's next level and Beyond it becomes complex for a variety of factors most notably policies compliance data security and banking rules then there are the large numbers they add additional intricacy the international Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the standard payroll model there's often a frustrating variety of various systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely very fundamental there's no real 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 frequently with pen and paper and that simply blows my mind every time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more a company spends on international payroll the less of a photo they see a lack of exposure likewise extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal almost half of worldwide businesses have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes poorly communicated hires and terminations along with absence management and system setups and then when you round everything off and the information is shipped to the wrong place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they count on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're making payments to workers or otherwise that's a great question I constantly toss this back and say what is it what does not require to be included ideal 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 nation there's payment timespan 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 consumer's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they resemble very 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 think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is enabling us to kind of move forward with that it likewise also to add to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing teams work more detailed together than ever um I'm always astonished when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere 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 contribute to kind of the level of intricacy there's increasingly more benefits being organ or being provided by companies across the world so once again you're simply wanting to add more and more payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine difficulties or real tough type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would certainly state that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding information into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we operate in they simply 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 a period that you understand that we are working in today there is no reason we are still making this as difficult as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any service has from an expense point of view from an effect point of view on staff members it is definitely important that it's done correctly and on time so what we mean 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 destructive effect on people's well-being and numerous other factors if people aren't paid uh I've always been impressed entering this Market sort of the last five to ten years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only see when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally as well. For that reason, it is vital to make sure that tasks like Wi-Fi Global and other crucial matters are done properly. Utilizing the very first Worldwide Payments first payroll payment service is an excellent preliminary step towards supplying a thorough payroll option for staff members worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and bank accounts required for worldwide payroll are key factors in accomplishing organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we understand how how important 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 simple as possible for everyone that's involved in those procedures and also so picture sorry I'm simply I was simply gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and in fact see what was going on and sort of shot to get back to everybody so proceeding look why do companies select to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I've operated in a business or many organizations doing precisely that I can state it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not producing additional work for anybody 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 think many factors one is it's the standard I believe people have got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have 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 range I think this is a process that requires looking at it requires altering but eventually individuals are extremely stuck with what they're familiar
with ideal um change is a challenging thing we all don't like modification um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving multiple savings account however there's a substantial quantity of complexity goes with setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is substantial but I believe the truthful response is change um people haven't had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to change but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century approximately there is a lot to track and this technique does present a number of obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this improved ability, I have successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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