Find out more about Papaya Global Asking For Previous Installation ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a protected and reliable technique of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, conserving me a significant quantity of time every month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
Employee Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment files. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive advantages plans to global workers no matter the variety of staff members in the company. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local benefits service providers in every country, develop regional accounts and have a minimum number of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total employment expenses distributed per place, overall employment expenses per cycle and far more.
Worldwide, I have actually shown management and tactical expertise in assisting large-scale populations of over 100,000 workers across 170 countries. Presently, I are accountable for supervising payroll strategies, as discussed by Mark. My role involves managing and establishing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment options for the past seven years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I've sort of had a variety of various functions on the service provider side and likewise on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating 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 everybody originates from and I really 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 extremely really uninspiring and I want I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical asset uh we'll likewise discuss a wrap-up and that ought to leave his time at the very really 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 Worldwide labor forces end up being more and more common and handling them ends up being a growing number of complicated Worldwide companies are wanting to discover Solutions and brand-new methods to enhance procedures particularly from a payroll and cross-border payment perspective lots of organizations preserve separate savings account just for payroll while some have numerous accounts in different countries does it make good sense for business to keep different bank accounts often in various nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies enhance the episode complex procedures of
making payroll payments precisely effectively safely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of factors most importantly regulations compliance information security and banking guidelines then there are the large numbers they include more complexity the international Workforce is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 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 worldwide in the standard payroll model there's often an overwhelming number of different systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely extremely basic there's no genuine consistency structure we're living in a period of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of an image they see a lack of visibility also extends to payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction almost half of global organizations have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors poorly communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the information is shipped to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they count on the necessary numerous procedures 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 service face when they're making payments to staff members or otherwise that's an excellent concern I always throw this back and say what is it what doesn't require to be included right and what does
it require to be thought about 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 need to pay from the customer's own in-country account so there's intricacy anywhere you look best ultimately developing a knowledge base is definitely crucial however all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to type of move forward with that it also as well to add to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and finance groups work better together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate 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 procedure it's the point of data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to contribute to kind of the level of complexity there's a growing number of benefits being organ or being provided by companies across the world so again you're just looking to add 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 challenges or real challenging kind of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a couple of decades I would definitely say that the bigger 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 teams feeding information into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we require to create extra handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason that we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single most significant liability that any company has from an expense viewpoint from an effect perspective on staff members it is definitely vital that it's done properly 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 biggest detrimental result on individuals's wellness and many other aspects if people aren't paid uh I have actually constantly been astonished entering into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done properly so leveraging the very first International Payments first payroll payment option is a fantastic primary step um offering an end-to-end payroll service for your employees worldwide once again I believe is another big um process once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely key to success success of organizations and lowering the number of tools platforms and bank accounts they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're implied to be um I do not believe any of us are actually doing that for for the thanks
anyhow we understand how how crucial 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 likewise so picture 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 potentially Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and kind of shot to get back to everyone so carrying on look why do companies choose to primary different savings account there are organizations out there doing exactly this for particular countries and I've worked in a service or many organizations doing precisely that I can say it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not producing additional work for anybody where we don't need to and anybody 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 quantity that we are I think numerous reasons one is it's the standard I believe people have got so used to we require a new checking account we open an entity and appropriately so you need 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 standard and the standard individuals have 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 ways um to to sort of do it so I believe there's a range I believe this is a process that requires taking a look at it requires changing but eventually people are extremely stuck to what they're familiar
with ideal um modification is a hard thing all of us don't like change um so I think it's just sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having maintaining several savings account but there's a substantial quantity of intricacy chooses establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is big however I believe the truthful answer is change um individuals have not had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to change but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to track and this method does position several challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a variety right there is so
I just did you switched our Business 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 International workers you are worthy of a corner workplace with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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