Find out more about Papaya Global Integration ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and trusted method of making payments to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll procedure, conserving me a considerable amount of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Worker Portal provides staff members with the capability to access and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global assists companies use competitive advantages packages to international employees no matter the number of employees in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source regional advantages providers in every nation, produce local accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total employment expenses dispersed per place, overall work costs per cycle and far more.
Internationally, I have demonstrated management and tactical knowledge in directing massive populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for supervising payroll strategies, as pointed out by Mark. My role involves managing and developing external partnerships, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and labor force management services to staff members 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 an enjoyment to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and decided to kind of make a real go at that over the last 5 or 6 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 point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type 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 kind of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very really dreary and I wish I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical asset uh we'll likewise discuss a wrap-up which ought to leave his time at the really 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 Global labor forces become a growing number of common and managing them ends up being more and more complicated Worldwide organizations are aiming to find Solutions and brand-new ways to streamline procedures particularly from a payroll and cross-border payment standpoint many organizations keep different savings account just for payroll while some have numerous accounts in different nations does it make good sense for business to maintain separate checking account sometimes in various countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies streamline the episode complex processes of
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for services operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to optimize working capital, and discover how simplifying worldwide payroll payments can change them from a challenging job into a tactical asset.
Handling payroll globally is an overwhelming task due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The large number of employees and businesses contributes to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and a lack of integration, resulting in inconsistencies and inefficiencies. In spite of living in an era of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to provide insights and services to streamline and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a business invests in worldwide payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal almost half of global businesses have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes poorly communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the data is shipped to the incorrect location the average cost of an international data 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 do not run efficiently if they count on the required several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're making payments to workers or otherwise that's a great concern I always throw this back and state what is it what doesn't require to be consisted of right and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 have to pay from the client's own in-country account so there's complexity any place you look right ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind 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 enabling us to sort of move on with that it also as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely essential that payroll and financing teams work closer together than ever um I'm constantly astonished when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often 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 but also 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 sort of the level of complexity there's more and more advantages being organ or being offered by organizations throughout the world so once again you're just seeking to add increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real obstacles or real tough kind of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of years I would certainly say that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding info into the next function as it were that's actually handling the payment side of things but you understand in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we run in they just make them more timely they make them less efficient and they don't make them what they need to be in in an age of tech and an age that you know that we are working in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any business has from an expense viewpoint from an impact viewpoint on staff members it is absolutely critical 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 greatest harmful impact on individuals's wellness and many other factors if people aren't paid uh I've constantly been amazed coming into this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this type of webinar has actually been told 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 workers or not um but eventually payroll is such a crucial cycle we all find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment service is an excellent initial step um offering an end-to-end payroll option for your staff members globally once again I think is another huge um process once again aligning and guaranteeing you have standardization Global processes all of those things are absolutely essential to success success of organizations and reducing the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred countless 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 complaints where things have not gone rather where they're indicated to be um I don't believe any of us are actually 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 involved in those procedures and also so envision sorry I'm just I was simply gon na say think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions imagine getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and actually see what was going on and type of shot to get back to everybody so proceeding look why do business select to main different bank accounts there are companies out there doing precisely this for particular nations and I have actually worked in an organization or many services doing precisely that I can state it doesn't always feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anybody where we do not need to and any person that's managing 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 quantity that we are I believe numerous reasons one is it's the standard I think individuals have got so utilized to we need a new bank account we open an entity and appropriately 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 requirement and the norm individuals have embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I think this is a procedure that requires looking at it needs altering but eventually individuals are really stuck to what they recognize
with best um modification is a hard thing we all don't like change um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having preserving multiple checking account but there's a big quantity of intricacy opts for setting up a checking account maintaining it ensuring it can send International transfers ensuring it's established with the right user accesses for private people so the complexity is huge but I think the honest answer is change um individuals have not had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to change however we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or two there is a lot to keep track of and this technique does pose a number of challenges um so Johnny might you inform us about those difficulties yeah of course so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner workplace with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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