Find out more about Papaya Global Options ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a protected and reputable method of paying to our 10,000 staff members worldwide.}
The advanced global payroll management app improves my payroll procedure, saving me a considerable quantity of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
The Worker Portal provides employees with the ability 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 devices and is provided in various languages.
Advantages Administration
Papaya Global helps business offer competitive advantages plans to global employees no matter the variety of workers in the business. The company can set up health insurance, short-term and long-term special needs, 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 staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment costs distributed per area, total work expenses per cycle and much more.
Internationally, I have demonstrated management and strategic expertise in guiding large-scale populations of over 100,000 employees throughout 170 countries. Presently, I are accountable for overseeing payroll methods, as discussed by Mark. My function includes managing and establishing external collaborations, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for most prominent business on the planet we supply payroll payments and labor force management to all employee enters over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon great evening depending upon where you remain in the world it's lovely to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually sort of had a range of various roles on the provider side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really really bleak and I want I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a tactical property uh we'll also review a recap which needs to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and handling them ends up being more and more intricate Worldwide organizations are wanting to discover Solutions and brand-new ways to simplify procedures specifically from a payroll and cross-border payment standpoint numerous companies maintain different savings account just for payroll while some have multiple accounts in different nations does it make good sense for companies to preserve separate checking account in some cases in various nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business improve the episode complex processes of
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for services operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, discover how companies forecast payroll expenses to optimize working capital, and discover how simplifying worldwide payroll payments can change them from a troublesome job into a tactical property.
Handling payroll internationally is a difficult job due to different guidelines, compliance requirements, information security issues, and banking guidelines. The large variety of staff members and services contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of integration, causing inconsistencies and inadequacies. Regardless of residing in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to offer insights and options to simplify and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a service invests in international payroll the less of an image they see an absence of presence likewise encompasses payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide services have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes poorly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the information is delivered to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they depend on the needed multiple procedures 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 business face when they're making payments to employees or otherwise that's a good question I always toss this back and state what is it what does not need to be included ideal and what does
it need to be thought about there's differing Bank details 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is absolutely crucial 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 take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to kind of move on with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely necessary that payroll and financing teams work more detailed together than ever um I'm constantly surprised when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split 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 procedure it's the point of information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more crucial to contribute to kind of the level of intricacy there's increasingly more advantages being organ or being used by companies across the world so once again you're simply wanting to include a growing number of payments to this already intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine challenges or genuine tough sort of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of decades 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 task there are teams feeding info into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to develop additional handoffs in the processes that we run in they just make them more prompt 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 we are still making this as difficult as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any service has from an expense point of view from an effect perspective on workers it is definitely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive result on people's well-being and many other elements if people aren't paid uh I've always been astonished coming into this Market type of the last five to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just discover when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's viewed externally too. Therefore, it is vital to ensure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Using the first Global Payments very first payroll payment solution is a fantastic initial step towards providing a comprehensive payroll service for staff members worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and bank accounts essential for worldwide payroll are essential factors in achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don't go as planned. Eventually, we do not do it for the appreciation.
anyway we know how how important a role 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 also so picture sorry I'm just I was just gon na state imagine 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 discussing hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and sort of shot to return to everybody so carrying on look why do business choose to main different checking account there are services out there doing precisely this for particular nations and I've operated in a company or numerous companies doing exactly that I can state it doesn't always feel effective and it does produce more work I understand we're not purposely doing that we're not producing extra work for anyone where we don't need to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of factors one is it's the requirement I think people 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 but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires altering however ultimately individuals are extremely stuck to what they're familiar
with right um modification is a difficult thing all of us don't like change um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping numerous bank accounts however there's a huge quantity of intricacy chooses setting up a bank account preserving it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for specific individuals so the complexity is big but I believe the truthful response is change um individuals have not had the ability to change or have not had always the understanding to truly make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I think it is understanding you understand and there is an element of resistance to alter however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could practically be figured out to be the next Century or two there is a lot to monitor and this method does position numerous obstacles um so Johnny could you tell us about those challenges yeah obviously 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you are worthy of a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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