Find out more about Papaya Global Report By Pay Elements ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and reputable approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies offer competitive advantages packages to global workers despite the variety of employees in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source local benefits companies in every nation, produce local accounts and have a minimum number of employees.
The HR abilities supplied by Global HR encompass numerous functions such as keeping an eye on getaway time, ensuring compliance, facilitating the process of inviting brand-new staff members and bidding farewell to leaving ones, using a safe and secure online platform for saving workers' files, and providing support for work permit treatments in case your employees require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, overall employment costs dispersed per area, total work expenses per cycle and far more.
Worldwide, I have actually demonstrated management and strategic proficiency in assisting large-scale populations of over 100,000 workers across 170 countries. Currently, I are accountable for supervising payroll methods, as pointed out by Mark. My function involves managing and developing external collaborations, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for a lot of influential business worldwide we offer payroll payments and workforce management to all employee enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon great night depending on where you are in the world it's charming to satisfy 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've been in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I've sort of had a variety of different functions on the supplier side and likewise on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to type 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 raining here it's really extremely bleak and I want I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll likewise review a recap and that ought to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more common and handling them becomes more and more complex International companies are looking to find Solutions and new methods to enhance processes especially from a payroll and cross-border payment standpoint many organizations keep different savings account just for payroll while some have several accounts in various 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 better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international companies simplify the episode complex procedures of
making payroll payments accurately efficiently safely and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in sufficient in one nation but when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of reasons most notably guidelines compliance information security and banking rules then there are the sheer numbers they include additional complexity the global Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll model there's often a frustrating number of various systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in large amounts and or really really fundamental there's no real consistency structure we're residing in an age of tech however 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 which simply blows my mind whenever I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather honestly the more a service spends on worldwide payroll the less of an image they see an absence of visibility also reaches payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal almost half of international companies have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors badly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is delivered to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they depend on the essential several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're paying to employees or otherwise that's an excellent question I constantly toss 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 differing Bank information so the length of an eye band a swift an account number routing code per country 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 client's own in-country account so there's complexity wherever you look right ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is allowing us to type of move on with that it also too to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely necessary that payroll and finance groups work more detailed together than ever um I'm constantly amazed when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to contribute to sort of the level of intricacy there's a growing number of benefits being organ or being provided by services across the world so again you're just looking to add increasingly more payments to this currently intricate landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine difficulties or real difficult type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would definitely state that the larger a business 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 teams feeding info into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to develop additional 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 require to be in in an era of tech and an age that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any service has from an expense point of view from an impact point of view on staff members it is definitely vital 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 have to be done right it has the most significant destructive impact on individuals's well-being and lots of other elements if people aren't paid uh I've constantly been impressed entering this Market type of the last five to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only discover when things fail. However, when things go right, it's seen as just a regular job. This is how it's viewed externally also. For that reason, it is important to ensure that jobs like Wi-Fi Worldwide and other essential matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment service is an excellent initial step towards supplying a comprehensive payroll service for staff members worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and bank accounts required for worldwide payroll are key consider accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things do not go as planned. Ultimately, we do not do it for the appreciation.
anyhow we know how how essential 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 everyone that's associated with those processes and likewise so envision sorry I'm just I was just gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job attempting to clean all those up for sure oh definitely I can't envision 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 actually see what was going on and sort of shot to return to everyone so carrying on look why do companies choose to primary separate checking account there are businesses out there doing exactly this for specific nations and I have actually worked in a company or numerous organizations doing exactly that I can say it doesn't always feel effective and it does create more work I know we're not deliberately doing that we're not creating additional work for any person where we do not need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe many factors one is it's the requirement I think people have actually got so used to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I believe this is a process that requires taking a look at it needs altering however ultimately people are really stuck to what they recognize
with best um modification is a challenging thing all of us don't like modification um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having preserving numerous bank accounts but there's a huge amount of complexity chooses setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private people so the complexity is huge but I think the sincere response is modification um people have not been able to alter or have not had always the understanding to truly make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter however we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be identified to be the next Century approximately there is a lot to keep an eye on and this approach does pose numerous obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this improved ability, I have successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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