Find out more about Papaya Global Training Courses ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and reliable method of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app enhances my payroll process, saving me a substantial amount of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Worker Website provides workers with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to worldwide staff members no matter the number of employees in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source regional benefits providers in every country, develop local accounts and have a minimum number of workers.
The HR abilities offered by Worldwide HR include various functions such as monitoring vacation time, ensuring compliance, helping with the procedure of inviting brand-new workers and bidding farewell to leaving ones, using a secure online platform for keeping workers' files, and offering assistance for work permit treatments in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, overall employment expenses distributed per area, total employment costs per cycle and much more.
Globally, I have actually shown management and strategic expertise in guiding large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for managing payroll techniques, as pointed out by Mark. My role includes managing and developing external partnerships, supporting Enterprise customers, and providing advisory services. Furthermore, 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 many prominent business in the world we offer payroll payments and workforce management to all worker key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon great night depending upon where you are in the world it's lovely to satisfy you and thank you very much 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 industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've type of had a variety of various functions on the service provider side and also on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately 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 currently just to hear where everyone is um it's nice to to sort of like see where everyone comes from and I really 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 extremely bleak and I wish I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll likewise review a recap and that must 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 Global labor forces end up being increasingly more typical and handling them ends up being increasingly more intricate Worldwide companies are looking to find Solutions and brand-new ways to simplify processes particularly from a payroll and cross-border payment perspective many organizations preserve different checking account just for payroll while some have several accounts in various nations does it make good sense for business to preserve different bank accounts sometimes in different nations it does but just for payroll is there a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business improve the episode complex processes of
Making sure accurate, effective, and prompt payroll payments is a complex obstacle for organizations running worldwide. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to optimize working capital, and discover how simplifying international payroll payments can change them from a challenging task into a strategic property.
Handling payroll globally is a complicated task due to different guidelines, compliance requirements, data security issues, and banking rules. The large variety of workers and companies adds to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems typically result in manual procedures, information silos, and an absence of integration, resulting in inconsistencies and inadequacies. Despite living in a period of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to supply insights and options to simplify and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more an organization spends on worldwide payroll the less of a photo they see an absence of visibility also reaches payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global services have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors improperly interacted hires and terminations along with lack management and system configurations and after that when you round everything off and the data is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they depend on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're paying to staff members or otherwise that's an excellent concern I always toss this back and say what is it what doesn't require to be included ideal and what does
it require to be thought of there's differing 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 need to pay from the client's own in-country account so there's intricacy wherever you look right ultimately developing a knowledge base is definitely vital however all over you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the type 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 definitely essential and technology is permitting us to type of progress with that it likewise too to add to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely vital that payroll and financing teams work more detailed together than ever um I'm always astonished when people say I have actually split payroll and payment um if you walk 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 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 process it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to add to sort of the level of complexity there's increasingly more benefits being organ or being provided by services across the world so once again you're just aiming to include more and more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine obstacles or genuine difficult sort of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of years I would certainly state that the bigger an organization 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 details into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to create additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason why we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single most significant liability that any organization has from an expense point of view from an effect perspective on workers it is absolutely 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 greatest harmful effect on individuals's wellness and many other factors if individuals aren't paid uh I've constantly been amazed coming into this Market kind of the last 5 to 10 years is how little thanks the
The payroll group might not have actually 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 workers or not. Payroll is an essential cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's viewed externally as well. Therefore, it is necessary to guarantee that jobs like Wi-Fi Global and other vital matters are done properly. Utilizing the very first International Payments very first payroll payment service is a great initial action towards supplying a comprehensive payroll service for staff members worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and savings account essential for global payroll are crucial factors in achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyway we understand how how crucial 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 processes and also so picture sorry I'm just I was simply gon na state picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean 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 require days of the week to try to browse them and actually see what was going on and type of shot to return to everybody so carrying on appearance why do business pick to main different savings account there are services out there doing precisely this for specific nations and I've worked in a company or lots of organizations doing precisely that I can state it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not producing additional work for anyone where we do not need to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the standard I think individuals have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked 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 needs taking a look at it needs changing however eventually individuals are very stuck with what they're familiar
with right um change is a hard thing we all do not like modification um so I believe it's just kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having maintaining multiple bank accounts however there's a substantial amount of intricacy goes with establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific people so the complexity is huge however I believe the sincere answer is change um people haven't been able to change or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be figured out to be the next Century or two there is a lot to keep track of and this technique does position a number of challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your accomplishments.
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