Find out more about Papaya Global And Cis ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a protected and dependable technique of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, saving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
Worker Portal
Workers have access to an Employee Website where they can view their pay slips, wage and tax declarations and work documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages plans to international workers despite the number of staff members in the business. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional advantages providers in every country, create regional accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment expenses distributed per location, overall employment expenses per cycle and much more.
Globally, I have actually shown leadership and tactical knowledge in directing massive populations of over 100,000 employees across 170 nations. Currently, I am responsible for supervising payroll techniques, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
company to make the time 100 list for a lot of prominent business in the world we supply payroll payments and workforce management to all employee types in over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent night depending on where you remain in the world it's charming to fulfill 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 ten years and particularly working on the payroll and payment sector for over seven years um I was interested 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 6 years where I've type of had a range of different roles on the service provider side and also on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates 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 drizzling here it's very extremely gloomy and I want I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic asset uh we'll likewise discuss a recap and that should leave his time at the very 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 International labor forces end up being more and more common and handling them ends up being a growing number of complicated Worldwide organizations are aiming to find Solutions and brand-new ways to enhance procedures specifically from a payroll and cross-border payment perspective many organizations preserve different checking 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 however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business streamline the episode complex processes of
Making sure accurate, effective, and timely payroll payments is a complex difficulty for organizations running worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to enhance working capital, and find how streamlining global payroll payments can change them from a challenging job into a strategic possession.
Managing payroll internationally is a challenging job due to various regulations, compliance requirements, information security concerns, and banking rules. The large number of employees and organizations contributes to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems often result in manual procedures, information silos, and an absence of integration, causing inconsistencies and inadequacies. Despite residing in an era of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to offer insights and options to streamline and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business spends on international payroll the less of an image they see a lack of visibility also encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction almost half of worldwide businesses have revealed that they do not 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 data entry errors badly interacted hires and terminations as well as lack management and system configurations and then when you round it all off and the information is delivered to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they depend on the needed numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're paying to workers or otherwise that's an excellent question I constantly toss this back and state what is it what does not need to be consisted of ideal 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 amount of time 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 consumer's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they resemble very 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 acknowledgment that payroll payments are absolutely essential and technology is enabling us to sort of move forward with that it also too to add to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely vital that payroll and finance teams work closer together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often 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 any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more essential to add to type of the level of complexity there's increasingly more benefits being organ or being offered by services throughout the world so once again you're just 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'm sure however have you got any experience in kind of genuine difficulties or genuine tough kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of years I would absolutely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding info into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we need to develop extra handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and an age that you know that we are working in today there is no reason why we are still making this as difficult as it needs to be agreed and rightly as you said payroll is the single greatest liability that any business has from a cost perspective from an effect point of view on staff members it is definitely critical that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging impact on people's wellness and lots of other aspects if people aren't paid uh I've always been astonished entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll during 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 a crucial cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. Therefore, it is important to ensure that tasks like Wi-Fi Global and other vital matters are done correctly. Using the very first Global Payments first payroll payment service is a terrific preliminary action towards offering a detailed payroll option for workers worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and bank accounts needed for global payroll are essential consider attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyhow we know how how important 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 easy as possible for everybody that's involved in those processes and likewise so think of sorry I'm simply I was just gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task attempting to clean all those up for sure oh absolutely 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 really see what was going on and type of try to return to everybody so carrying on appearance why do companies choose to primary separate checking account there are services out there doing precisely this for specific nations and I've worked in a company or lots of businesses doing exactly that I can say it doesn't constantly feel effective and it does develop more work I know we're not intentionally doing that we're not producing additional work for any person where we do not 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 actually got so used to we require a new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement 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 numerous other ways um to to sort of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs changing however eventually individuals are extremely stuck to what they're familiar
with right um change is a tough thing all of us don't like modification um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having preserving multiple bank accounts but there's a substantial amount of complexity opts for establishing a checking account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for specific people so the complexity is big but I think the truthful answer is change um people have not been able to alter or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century or so there is a lot to keep an eye on and this method does position several obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you should have a corner workplace with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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