Find out more about Papaya Global Training Courses Uk ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a secure and trustworthy technique of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Staff member Website offers employees with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to international workers regardless of the number of employees in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source regional advantages providers in every nation, create regional accounts and have a minimum variety of staff members.
The HR abilities provided by International HR include numerous functions such as keeping an eye on trip time, ensuring compliance, assisting in the procedure of inviting brand-new employees and bidding farewell to leaving ones, using a secure online platform for saving workers' documents, and offering support for work permit treatments in case your staff members need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total employment expenses dispersed per place, total employment expenses per cycle and far more.
environments around the world I offered leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark stated I work across the business handling and building external relationships supporting Business customers and solutions in addition to functioning as an advisor for those of you that don't know who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for many influential companies in the world we offer payroll payments and workforce management to all employee enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon excellent evening depending upon where you are in the world it's beautiful 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've remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually type of had a range of different functions on the provider side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days 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 everybody is um it's nice to to type of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely really uninspiring and I want I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya International payroll payments as a strategic possession uh we'll likewise discuss a wrap-up which must leave his time at the extremely very 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 end up being a growing number of common and managing them ends up being increasingly more complex Global organizations are looking to discover Solutions and brand-new ways to enhance processes particularly from a payroll and cross-border payment perspective many companies keep different checking account just for payroll while some have several accounts in different countries does it make good sense for business to maintain different checking account in some cases in various nations it does however 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 assisting international companies enhance the episode complex procedures of
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in enough in one nation however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of reasons most significantly guidelines compliance data security and banking guidelines then there are the large numbers they include more complexity the worldwide Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll design there's typically an overwhelming variety of different systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or extremely very basic there's no genuine consistency framework we're residing in a period of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind each 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 businesses state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization invests in global payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of international companies have expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors improperly communicated hires and terminations along with absence management and system configurations and after that when you round everything off and the data is shipped to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they rely on the needed multiple 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 challenges company face when they're making payments to workers or otherwise that's a good question I constantly throw this back and say what is it what does not need to be included 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 nation there's payment timespan there's payment capabilities 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 customer's own in-country account so there's intricacy wherever you look ideal eventually building a knowledge base is definitely critical however everywhere you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 allowing us to sort of progress with that it also too to add to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly impressed when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more essential to contribute to sort of the level of intricacy there's more and more benefits being organ or being used by services throughout the world so once again you're simply aiming to add more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine obstacles or real difficult kind of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of years I would certainly state 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 job there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we run 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 a period of tech and a period that you know that we are working in today there is no reason why we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single most significant liability that any organization has from an expense point of view from an effect point of view on staff members it is absolutely critical that it's done properly 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 effect on people's wellness and many other aspects if people aren't paid uh I've always been impressed entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anybody on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done correctly so leveraging the first Global Payments first payroll payment solution is a fantastic primary step um offering an end-to-end payroll option for your workers worldwide again I think is another huge um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of organizations and minimizing the number of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I don't believe any of us are in fact doing that for for the thanks
anyway we understand 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 simple as possible for everyone that's associated with those processes and likewise so think of sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job attempting to clean up all those up for sure oh absolutely 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 look through them and really see what was going on and kind of shot to get back to everybody so moving on look why do business choose to main separate checking account there are companies out there doing precisely this for specific nations and I have actually worked in a business or numerous organizations doing exactly that I can state it does not constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for any person where we don't have to and anybody that's dealing with 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 believe many reasons one is it's the standard I believe people have got so used to we require a brand-new checking account we open an entity and appropriately so you require 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 norm the people have actually adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I believe this is a procedure that requires looking at it needs changing however ultimately people are very stuck with what they're familiar
with right um modification is a tough thing all of us do not like modification um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having keeping numerous savings account however there's a substantial quantity of complexity chooses setting up a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for individual people so the intricacy is big however I believe the truthful response is change um individuals haven't had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century approximately there is a lot to track and this method does pose several obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a range 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 Global workers you are worthy of a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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