Find out more about Printing P60 Papaya Global ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and trusted method of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
The Employee Portal supplies workers with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global helps companies provide competitive advantages plans to international workers despite the variety of workers in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional benefits service providers in every nation, create local accounts and have a minimum variety of staff members.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment expenses distributed per place, overall employment expenses per cycle and a lot more.
Internationally, I have actually shown management and tactical know-how in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as mentioned by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
company to make the time 100 list for most influential companies worldwide we supply payroll payments and labor force management to all employee key ins 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 introduce yourself of course thank you good morning great afternoon excellent evening depending upon where you are in the world it's beautiful 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 been in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've sort of had a variety of different roles on the company side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or two 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 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 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 extremely really gloomy and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why business keep separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also review a recap which needs to leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more common and handling them becomes more and more intricate Worldwide companies are wanting to find Solutions and brand-new methods to enhance processes especially from a payroll and cross-border payment perspective many companies keep separate savings account just for payroll while some have numerous accounts in different nations does it make good sense for business to preserve separate savings account sometimes in different nations it does but just for payroll exists a better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international business improve the episode complex processes of
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in enough in one nation however when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of factors most importantly guidelines compliance information security and banking rules then there are the sheer numbers they add additional intricacy the international Labor force is currently 3 and a half billion individuals by 2030 it's estimated 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 factor in that there are some 230 million services and growing all doing their own thing around the world in the conventional payroll model there's typically an overwhelming variety of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or very extremely standard there's no genuine consistency structure we're living in an age of tech however payroll has actually 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 each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more a business spends on worldwide payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide organizations have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors poorly interacted hires and terminations along with lack management and system setups and then when you round all of it off and the information is delivered to the incorrect location the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they rely on the needed several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're making payments to staff members or otherwise that's a good concern I always throw this back and state what is it what does not require to be included ideal and what does
it need to be thought about there's differing Bank information 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 consumer's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is absolutely important however everywhere you look with payroll payment they resemble very payments no if however some babies 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 think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to kind of move on with that it likewise also to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely vital that payroll and financing teams work more detailed together than ever um I'm constantly amazed when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession 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 typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on well-being and the compensation landscape is ending up being increasingly detailed. Organizations are continuously presenting brand-new advantages and payment alternatives, which contributes to the overall intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can cause inadequacies and bottlenecks. In my opinion, this doesn't need to be the case. In today's technically sophisticated period, there's no reason for maintaining cumbersome treatments. Payroll, the business's most significant cost, need to be processed properly and on time. Even small delays can adversely impact staff members' well-being and have far-reaching repercussions. For that reason, it's crucial to focus on precise and prompt payments.
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just see when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's viewed externally too. Therefore, it is essential to guarantee that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Using the very first International Payments first payroll payment option is a terrific preliminary step towards offering a detailed payroll option for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account needed for international payroll are key consider attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things don't go as prepared. Eventually, we do not do it for the gratitude.
anyway we understand how how important 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 simple as possible for everybody that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and in fact see what was going on and sort of shot to return to everyone so carrying on appearance why do business select to main different savings account there are businesses out there doing exactly this for specific countries and I have actually worked in a business or lots of businesses doing exactly that I can say it does not constantly feel efficient and it does create more work I know we're not deliberately doing that we're not developing extra work for any person where we don't need to and anybody that's managing 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 amount that we are I think numerous factors one is it's the standard I believe individuals have got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I think this is a process that requires taking a look at it requires changing but eventually individuals are extremely stuck to what they're familiar
with best um modification is a tough thing we all do not like modification um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having preserving several bank accounts but there's a substantial quantity of intricacy chooses setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual individuals so the complexity is huge however I think the truthful answer is modification um people haven't been able to change or have not had always the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could nearly be identified to be the next Century approximately there is a lot to monitor and this technique does position numerous difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I just 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 boosted capability, I have successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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