Find out more about Papaya Global Processing Checklist ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and trusted method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Worker Portal
Employees have access to a Worker Portal where they can view their pay slips, wage and tax declarations and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages packages to worldwide workers despite the number of employees in the company. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source local advantages providers in every country, create regional accounts and have a minimum variety of staff members.
The HR abilities provided by Global HR incorporate different functions such as keeping track of holiday time, guaranteeing compliance, assisting in the process of welcoming brand-new staff members and bidding goodbye to leaving ones, providing a safe and secure online platform for storing employees' files, and offering assistance for work allow treatments in case your staff members require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work expenses distributed per location, total employment costs per cycle and much more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and building external relationships supporting Business customers and options in addition to serving as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a satisfaction to meet you and thank you for your important 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 concentrated on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have always mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've sort of had a variety of different roles on the supplier side and also on the supplier side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather 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 comes from and I actually do hope it's much sunnier than it remains 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 really very uninspiring 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 International payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a strategic asset uh we'll likewise go over a wrap-up which should leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more common and handling them becomes a growing number of complex International companies are aiming to discover Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment standpoint lots of companies preserve separate bank account just for payroll while some have several accounts in various nations does it make sense for companies to preserve separate savings account often in various nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies simplify the episode complex procedures of
making payroll payments accurately effectively securely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in enough in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most significantly policies compliance information security and banking guidelines then there are the sheer numbers they include further intricacy the worldwide Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll design there's often a frustrating variety of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or really really standard there's no genuine consistency framework we're living in an era of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind whenever I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more a service spends on worldwide payroll the less of a photo they see an absence of exposure also extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of international organizations have expressed that they do not 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 information information entry mistakes improperly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is shipped to the wrong location the average cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they count on the necessary several processes 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 workers or otherwise that's an excellent question I always throw this back and say what is it what doesn't need to be included ideal and what does
it need to be thought of 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 consumer's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is definitely important but everywhere you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to sort of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work closer together than ever um I'm always astonished when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more essential to contribute to type of the level of intricacy there's a growing number of benefits being organ or being provided by businesses throughout the world so again you're simply aiming to include increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real obstacles or genuine difficult type of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we operate in they simply make them more timely they make them less effective 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 operating in today there is no reason that we are still making this as tough as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any business has from an expense perspective from an impact point of view on workers it is absolutely important 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 need to be done right it has the most significant detrimental result on individuals's well-being and lots of other elements if individuals aren't paid uh I have actually constantly been amazed entering this Market sort of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just notice when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's perceived externally also. For that reason, it is vital to make sure that tasks like Wi-Fi International and other crucial matters are done correctly. Using the very first Worldwide Payments first payroll payment option is an excellent preliminary action towards supplying an extensive payroll solution for workers worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and checking account necessary for international payroll are key factors in achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things don't go as planned. Eventually, we do not do it for the gratitude.
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 simple as possible for everybody that's associated with those procedures and also so think of sorry I'm simply I was simply gon na say envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and really see what was going on and type of try to return to everyone so moving on appearance why do companies pick to primary separate bank accounts there are businesses out there doing exactly this for specific nations and I've worked in a service or many companies doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not producing extra work for anyone where we don't need to and anybody that's dealing with 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 quantity that we are I think numerous reasons one is it's the requirement I believe people have got so used to we require a new savings account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs altering however ultimately people are extremely stuck to what they're familiar
with ideal um modification is a challenging thing we all don't like change um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having maintaining numerous savings account but there's a big amount of intricacy chooses setting up a savings account preserving it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for specific individuals so the complexity is big however I believe the truthful response is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century or so there is a lot to keep track of and this approach does posture a number of obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I just did you changed our Enterprise 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 Worldwide workers you deserve a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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