Find out more about Papaya Global And Windows 10 ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to handling payments. This offers us with a protected and trusted technique of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Staff member Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and work files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies offer competitive advantages bundles to international staff members no matter the variety of staff members in the business. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source local benefits suppliers in every country, create regional accounts and have a minimum number of workers.
The HR abilities supplied by Worldwide HR incorporate various functions such as keeping track of trip time, ensuring compliance, facilitating the procedure of welcoming brand-new workers and bidding goodbye to leaving ones, offering a safe and secure online platform for keeping employees' files, and supplying assistance for work allow procedures in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall employment expenses distributed per location, overall work costs per cycle and much more.
environments across the globe I offered management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout the business managing and structure external relationships supporting Business clients and solutions along with functioning as an advisor for those of you that do not understand who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I've type of had a variety of various functions on the company side and likewise on the vendor side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays 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 everybody is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really very gloomy and I wish I was somewhere else 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 challenge years of handling Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll also go over a wrap-up 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 officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more common and handling them ends up being a growing number of intricate International companies are looking to discover Solutions and new methods to enhance processes especially from a payroll and cross-border payment standpoint lots of organizations preserve separate savings account just for payroll while some have numerous accounts in various nations does it make good sense for business to keep different checking account in some cases in various countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business streamline the episode complex procedures of
making payroll payments accurately effectively safely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of factors most significantly regulations compliance information security and banking rules then there are the large numbers they include further complexity the international Labor force 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 presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll design there's often a frustrating variety of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or really very fundamental there's no genuine consistency framework we're residing in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that offers me sleepless nights and quite frankly the more an organization spends on international payroll the less of a photo they see a lack of presence likewise encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of worldwide organizations have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and then when you round it all off and the data is shipped to the wrong place the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they depend on the required multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to employees or otherwise that's a good question I always throw this back and say what is it what does not need to be included best and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a 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 definitely basic and technology is allowing us to kind of move forward with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and financing teams work more detailed together than ever um I'm always impressed when people say I have actually 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 estimation 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 eventually it's payroll is an end-to-end procedure 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 live in and wellness being increasingly more crucial to add to sort of the level of complexity there's more and more benefits being organ or being used by businesses across the world so again you're just wanting to add more and more payments to this already complex landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real obstacles or genuine challenging kind of pay utilizes 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 larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they don't 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 we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single most significant liability that any business has from an expense perspective from an impact point of view on employees it is absolutely important 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 have to be done right it has the biggest damaging effect on individuals's wellness and numerous other elements if individuals aren't paid uh I've always been astonished coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during 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 a crucial cycle, and people just 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 also. Therefore, it is vital to guarantee that tasks like Wi-Fi International and other essential matters are done correctly. Utilizing the first Global Payments very first payroll payment option is a great initial step towards supplying a comprehensive payroll service for staff members worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and savings account essential for global payroll are crucial factors in attaining organization success. While we don't 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 gratitude.
anyway 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 everybody that's involved in those processes and also so imagine sorry I'm simply I was just gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially 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 but it would certainly be a fascinating task trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and kind of try to return to everyone so moving on look why do business pick to main different checking account there are services out there doing exactly this for particular nations and I've operated in a business or many services doing exactly that I can say it doesn't always feel effective and it does develop more work I know we're not deliberately doing that we're not developing extra work for anybody where we don't have to and anyone that's managing that process 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 numerous reasons one is it's the requirement I think people have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and many other methods um to to type of do it so I think there's a range I believe this is a procedure that requires looking at it requires altering but eventually people are extremely stuck with what they're familiar
with right um change is a difficult thing all of us do not like change um so I believe it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having keeping numerous bank accounts however there's a big quantity of complexity opts for setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is substantial however I believe the honest response is change um individuals haven't had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change however we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be figured out to be the next Century or so there is a lot to monitor and this method does position numerous challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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