Find out more about Papaya Global Pension Opt Out ... 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 separate Chief Financial Officer specifically devoted to managing payments. This provides us with a protected and trusted technique of making payments to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, conserving me a significant quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Worker Website supplies staff members with the ability to access and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to global workers despite the number of employees in the company. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source local benefits service providers in every nation, produce regional accounts and have a minimum number of staff members.
The HR capabilities offered by Global HR include different functions such as monitoring holiday time, ensuring compliance, facilitating the process of inviting new workers and bidding farewell to departing ones, using a safe online platform for keeping employees' files, and offering assistance for work permit procedures in case your workers require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment expenses distributed per area, overall work expenses per cycle and a lot more.
Internationally, I have demonstrated leadership and tactical know-how in assisting large-scale populations of over 100,000 workers across 170 nations. Currently, I are accountable for managing payroll strategies, as pointed out by Mark. My role includes handling and developing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for the majority of prominent companies on the planet we provide payroll payments and labor force management to all worker types in over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good night depending on where you are in the world it's charming to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of various roles on the company side and also on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it is 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 extremely gloomy and I wish 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 challenge years of handling Worldwide payroll why companies maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise go over a recap which must leave his time at the extremely 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 end up being a growing number of common and handling them ends up being increasingly more intricate Global companies are looking to discover Solutions and brand-new methods to enhance processes specifically from a payroll and cross-border payment standpoint lots of companies preserve different savings account just for payroll while some have several accounts in various countries does it make good sense for business to preserve different bank accounts in some cases in various nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies simplify the episode complex processes of
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll savings 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 tactical possession so payroll can be difficult in adequate in one nation however when you're doing it internationally it's next level and Beyond it becomes complicated for a range of factors most importantly regulations compliance data security and banking rules then there are the large numbers they include additional intricacy the global Workforce is presently three and a half billion people 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 factor in that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll design there's typically a frustrating number of various systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or very really basic there's no genuine consistency framework we're residing in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind each time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information 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 picture they see an absence of presence likewise encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of international services have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors badly communicated hires and terminations as well as absence management and system setups and after that when you round it all off and the information is delivered to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they depend on the essential several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties company face when they're making payments to employees or otherwise that's a good question I always throw this back and state what is it what doesn't require to be consisted of best 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 country there's payment time frames there's payment abilities 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 complexity wherever you look best ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they are like super 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 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 enabling us to sort of progress with that it likewise too to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely essential that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation 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 process it's the point of information collection all the way through to paying individuals anywhere 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 crucial to contribute to type of the level of intricacy there's more and more advantages being organ or being provided by businesses throughout the world so again you're just wanting to include a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real challenges or real challenging type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding information into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to create extra handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and an era that you understand that we are working in today there is no reason that we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any business has from a cost point of view from an impact point of view on employees it is definitely crucial that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant harmful effect on people's wellness and many other factors if people aren't paid uh I have actually always been amazed entering into this Market sort of the last 5 to ten years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people only discover when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally as well. Therefore, it is important to ensure that jobs like Wi-Fi Global and other vital matters are done properly. Using the very first International Payments first payroll payment service is a terrific preliminary action towards supplying a comprehensive payroll service for staff members worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and bank accounts required for global payroll are key factors in achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things do not go as planned. Ultimately, we do not do it for the appreciation.
anyway we know how how important a role 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 associated with those processes and also so imagine sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job 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 browse them and actually see what was going on and sort of try to get back to everybody so proceeding appearance why do business select to main different bank accounts there are businesses out there doing precisely this for particular countries and I have actually worked in a service or numerous businesses doing precisely that I can state it does not constantly feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for anyone where we do not have to and any person that's handling 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 amount that we are I think lots of factors one is it's the requirement I think people have got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have adopted and continue to do over years and years passed by 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 think there's a variety I think this is a process that requires looking at it needs changing however ultimately people are very stuck to what they recognize
with right um change is a tough thing we all don't like modification um so I think it's just kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having maintaining several savings account but there's a substantial amount of intricacy opts for setting up a bank account preserving it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is huge however I believe the honest answer is change um individuals haven't had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or so there is a lot to track and this method does present several 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 Enterprise 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 staff members you are worthy of a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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