Find out more about Papaya Global Helpline Uk ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and reputable technique of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Employee Website offers employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits packages to global staff members despite the number of workers in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local advantages providers in every nation, create regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total work costs distributed per place, overall work expenses per cycle and much more.
environments around the world I offered management and technique 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 the business handling and building external relationships supporting Enterprise clients and services as well as functioning as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to sort of make a real go at that over the last five or six years where I've sort of had a variety of different functions on the supplier side and also on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort 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 everyone 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 really extremely 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 managing Global payroll why business maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a tactical property uh we'll likewise 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 execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and handling them becomes increasingly more intricate International organizations are wanting to find Solutions and brand-new ways to simplify processes particularly from a payroll and cross-border payment perspective numerous companies preserve separate checking account just for payroll while some have multiple accounts in different countries does it make sense for business to preserve separate checking account in some cases in different nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting international companies enhance the episode complex processes of
making payroll payments precisely effectively firmly and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely anticipate 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 hard in sufficient in one nation however when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most notably guidelines compliance information security and banking rules then there are the sheer numbers they include more complexity the global Labor force is currently three and a half billion individuals by 2030 it's estimated 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 consider that there are some 230 million services and growing all doing their own thing around the globe in the traditional payroll model there's often a frustrating variety of different systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or extremely very fundamental there's no genuine consistency structure we're living in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a service spends on global payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of global companies have actually revealed that they do not 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 data information entry errors badly interacted hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is shipped to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they count on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they're making payments to workers or otherwise that's an excellent question I always throw this back and say what is it what doesn't require to be consisted of right and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look best ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in 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 technology is allowing us to sort 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 varying banking requirements and setup procedures is definitely important that payroll and finance teams work more detailed together than ever um I'm constantly amazed when individuals say 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 occupation would they divide the payroll payment from estimation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on wellness and the payment landscape is ending up being progressively complex. Organizations are continuously introducing new advantages and payment choices, which contributes to the general intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's technologically sophisticated era, there's no reason for keeping cumbersome treatments. Payroll, the business's most significant expense, must be processed properly and on time. Even minor hold-ups can negatively impact staff members' well-being and have significant consequences. For that reason, it's vital to focus on precise and prompt payments.
payroll team get um so I'm uncertain anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done correctly so leveraging the very first International Payments very first payroll payment solution is a fantastic primary step um offering an end-to-end payroll service for your workers internationally again I think is another big um procedure once again aligning and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of businesses and lowering the variety of tools platforms and checking account they require for their Global 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 have actually never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 everybody that's associated with those processes and also so think of sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and really see what was going on and kind of try to return to everyone so moving on look why do companies select to main different checking account there are services out there doing exactly this for particular nations and I have actually operated in an organization or many services doing exactly that I can say it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not developing additional work for any person where we do not have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe many factors one is it's the requirement I believe people have got so used to we require a new checking account we open an entity and appropriately so you need 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 requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I think this is a procedure that needs looking at it requires altering however eventually individuals are extremely stuck to what they're familiar
with ideal um modification is a tough thing all of us don't like change um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having keeping multiple savings account however there's a big quantity of complexity goes with setting up a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for specific people so the complexity is big but I believe the honest response is change um people have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I think it is knowledge 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 advantages and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century or so there is a lot to keep an eye on and this method does present a number of difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I simply 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 International employees you should have a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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