Find out more about Process Date On Papaya Global ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and reputable technique of paying to our 10,000 workers worldwide.}
The innovative global payroll management app simplifies my payroll procedure, saving me a considerable quantity of time each month. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
Staff member Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment documents. The website is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive benefits plans to global workers despite the number of staff members in the business. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local advantages service providers in every nation, create local accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR encompass various functions such as monitoring vacation time, guaranteeing compliance, helping with the procedure of welcoming brand-new employees and bidding farewell to departing ones, offering a secure online platform for storing workers' documents, and supplying assistance for work permit procedures in case your staff members need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total work costs dispersed per place, overall work expenses per cycle and a lot more.
Internationally, I have actually shown management and tactical proficiency in guiding massive populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for managing payroll techniques, as mentioned by Mark. My function involves managing and establishing external collaborations, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
business to make the time 100 list for a lot of prominent business worldwide we provide payroll payments and labor force management to all staff member types in over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good night depending on where you remain in the world it's lovely 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 been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I've type of had a range of various functions on the company side and likewise on the vendor side from a payroll perspective so truly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really really uninspiring and I wish I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya Global payroll payments as a strategic possession uh we'll also go over a recap 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 International workforces end up being increasingly more common and handling them ends up being a growing number of intricate Worldwide companies are wanting to discover Solutions and brand-new methods to enhance procedures particularly from a payroll and cross-border payment viewpoint many organizations maintain separate savings account just for payroll while some have several accounts in various countries does it make good sense for companies to keep separate bank accounts often in various nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational business improve the episode complex processes of
making payroll payments properly efficiently firmly and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of reasons most notably regulations compliance information security and banking rules then there are the sheer numbers they add more complexity the international Workforce is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 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 standard payroll design there's typically an overwhelming variety of different systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or really really standard there's no real consistency framework we're residing in an age of tech but 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 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 Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a company spends on worldwide payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of international companies have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors badly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the information is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they count on the required numerous processes systems and partners it is just 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 making payments to employees or otherwise that's a great question 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 considered 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 have to pay from the client's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they are like very 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 recognition that payroll payments are absolutely basic and technology is allowing us to sort of progress 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 processes is definitely necessary that payroll and finance teams work better together than ever um I'm constantly amazed when people say I have actually split payroll and payment um if you walk down the street and asked anybody 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 often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more essential to add to kind of the level of intricacy there's more and more benefits being organ or being provided by organizations across the world so once again you're simply looking to include increasingly more payments to this already 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 genuine challenges or real difficult kind of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a number of years I would definitely say that the bigger a service 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 actually handling the payment side of things however you know in in my opinion and my experience that does not always 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 just make them more timely they make them less efficient and they do not make them what they require to be in in a period of tech and an era that you know that we are operating in today there is no reason that we are still making this as hard as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any organization has from a cost point of view from an impact viewpoint on employees it is definitely crucial 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 need to be done right it has the most significant harmful effect on people's well-being and many other elements if individuals aren't paid uh I've always been astonished entering into this Market type 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 throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only see when things fail. Nevertheless, when things go right, it's seen as simply a routine job. This is how it's perceived externally as well. Therefore, it is important to make sure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Using the first International Payments first payroll payment solution is a fantastic preliminary step towards supplying a thorough payroll option for workers worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and bank accounts needed for global payroll are crucial consider achieving business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyhow we know how how essential a role 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 everyone that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na say picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions envision getting that lots of thank you notes 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 up 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 check out them and in fact see what was going on and type of try to return to everyone so proceeding look why do companies choose to main different savings account there are services out there doing precisely this for particular nations and I've operated in a service or lots of services doing precisely that I can state it doesn't always feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anybody where we don't need to and anyone that's handling 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 amount that we are I believe many factors one is it's the standard I believe individuals have got so used to we require a brand-new savings account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a process that needs looking at it requires altering however ultimately people are really stuck to what they recognize
with ideal um modification is a tough thing we all don't like change um so I believe it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the advantages of having preserving multiple savings account however there's a huge amount of intricacy opts for establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is huge however I believe the honest response is change um people have not been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could almost be determined to be the next Century or two there is a lot to keep track of and this technique does pose numerous difficulties um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your achievements.
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