Find out more about Papaya Global Module ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and secure and trusted method of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
The Employee Portal provides employees with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global assists business offer competitive benefits plans to worldwide employees no matter the number of workers in the business. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source regional benefits service providers in every country, develop local accounts and have a minimum number of workers.
The HR abilities provided by Worldwide HR include different functions such as monitoring getaway time, guaranteeing compliance, assisting in the process of welcoming new workers and bidding farewell to leaving ones, offering a safe and secure online platform for storing employees' files, and providing support for work allow procedures in case your workers need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total work costs distributed per place, overall employment expenses per cycle and far more.
Internationally, I have demonstrated management and tactical know-how in assisting massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for managing payroll techniques, as discussed by Mark. My role includes handling and establishing 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 solutions company.
business to make the time 100 list for the majority of prominent business on the planet we provide payroll payments and workforce management to all employee 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 introduce yourself naturally thank you good morning great afternoon good evening depending on where you remain in the world it's beautiful to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually type of had a range of various roles on the company side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly 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 gloomy and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll also review a recap which needs to leave his time at the extremely 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 Global workforces end up being more and more typical and handling them ends up being more and more intricate Worldwide organizations are aiming to find Solutions and brand-new methods to enhance procedures especially from a payroll and cross-border payment viewpoint lots of companies maintain separate bank account just for payroll while some have several accounts in different nations does it make good sense for business to keep separate savings account in some cases in different countries it does but 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 assisting multinational companies streamline the episode complex processes of
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in adequate in one country however when you're doing it globally it's next level and Beyond it becomes complex for a variety of factors most importantly policies compliance data security and banking guidelines then there are the sheer numbers they include further intricacy the international Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals 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 all over the world in the conventional payroll model there's typically a frustrating number of different systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in large quantities and or really extremely standard there's no genuine consistency structure we're living in an era of tech but payroll has 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 just 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 organizations say they have Workforce data 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 picture they see a lack of presence likewise reaches payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global companies have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes badly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the data is delivered to the incorrect place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they depend on the needed several 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 service face when they're paying to employees or otherwise that's a good concern I constantly toss this back and say what is it what doesn't require to be consisted of best and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to kind of move on with that it also also to add to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance teams work closer together than ever um I'm always astonished when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation 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 people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on well-being and the payment landscape is becoming increasingly complex. Organizations are continually introducing new benefits and payment options, which contributes to the total intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can cause inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's technically innovative era, there's no justification for maintaining cumbersome procedures. Payroll, the company's biggest expense, need to be processed properly and on time. Even slight hold-ups can negatively affect workers' wellness and have far-reaching repercussions. For that reason, it's critical to focus on precise and timely payments.
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only see when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's viewed externally as well. For that reason, it is important to make sure that tasks like Wi-Fi Global and other crucial matters are done correctly. Utilizing the first Worldwide Payments first payroll payment solution is an excellent initial action towards providing a detailed payroll solution for workers worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and savings account needed for global payroll are key factors in achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyhow we know how how important a function it is which'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 procedures and likewise so imagine sorry I'm just I was simply gon na say envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions envision getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task trying to clean up all those up for sure oh absolutely I can't think of 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 in fact see what was going on and sort of try to return to everyone so proceeding appearance why do companies choose to main different checking account there are businesses out there doing exactly this for particular nations and I've worked in a business or lots of companies doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not creating additional work for anybody where we don't 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 think many reasons one is it's the requirement I think individuals have actually got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a range I believe this is a procedure that requires looking at it requires altering but eventually individuals are really stuck to what they recognize
with best um change is a hard thing all of us do not like modification um so I think it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having keeping numerous savings account however there's a big amount of intricacy opts for setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual people so the complexity is huge but I think the honest response is change um people haven't been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century or two there is a lot to keep track of and this method 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 changed 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 workers you deserve a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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