Find out more about Papaya Global Auto Enrolment Opt Out ... We now have the capability to handle 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 particularly devoted to managing payments. This provides us with a protected and reputable technique of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app streamlines my payroll process, saving me a significant amount of time each month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Worker Website offers staff members with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global assists business provide competitive advantages bundles to worldwide employees regardless of the variety of staff members in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the need to source local benefits suppliers in every nation, develop local accounts and have a minimum number of workers.
The HR capabilities provided by Worldwide HR incorporate different functions such as keeping an eye on getaway time, making sure compliance, helping with the process of inviting new employees and bidding goodbye to leaving ones, using a protected online platform for saving workers' documents, and offering support for work permit procedures in case your workers require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work costs distributed per place, overall work expenses per cycle and a lot more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across business managing and building external relationships supporting Business customers and services along with serving as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, 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 actually always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different roles on the company side and likewise on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting 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 everybody comes 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 extremely dreary and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical asset uh we'll also go over a recap which ought to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more typical and managing them becomes a growing number of complicated Global companies are looking to discover Solutions and new methods to streamline procedures especially from a payroll and cross-border payment perspective lots of companies keep different bank account just for payroll while some have multiple accounts in various countries does it make sense for companies to preserve separate savings account sometimes in various countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business improve the episode complex procedures of
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for businesses operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to optimize working capital, and discover how enhancing global payroll payments can change them from a difficult task into a tactical possession.
Handling payroll worldwide is a challenging task due to different policies, compliance requirements, data security issues, and banking rules. The sheer number of staff members and organizations contributes to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and an absence of integration, leading to inconsistencies and inefficiencies. Despite living in an era of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to offer insights and solutions to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more a service spends on global payroll the less of an image they see an absence of presence likewise extends to payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide organizations have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors inadequately communicated hires and terminations in addition to absence management and system setups and then when you round everything off and the information is shipped to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they depend on the necessary multiple procedures 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 difficulties company face when they're making payments to employees or otherwise that's a good concern I always throw this back and say what is it what does not need to be consisted of right 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 need 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 right ultimately constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like very payments no if however some children 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to sort of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and finance teams work more detailed together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of important to add to sort of the level of intricacy there's increasingly more benefits being organ or being provided by organizations throughout the world so again you're simply looking to add more and more payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real obstacles or genuine difficult sort of pay uses to play to pay people I think yeah I imply over the last well yeah a number of decades I would definitely state that the bigger a company 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 details into the next function as it were that's really managing the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop extra handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in an era of tech and a period 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 concurred and appropriately as you said payroll is the single greatest liability that any company has from a cost perspective from an effect point of view on workers it is definitely crucial that it's done correctly and on time so what we indicate 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 destructive result on people's wellness and many other aspects if individuals aren't paid uh I've constantly been impressed coming into this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the very first International Payments very first payroll payment service is a fantastic primary step um offering an end-to-end payroll solution for your employees worldwide again I believe is another substantial um procedure again lining up and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and bank accounts they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyhow 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 easy as possible for everyone that's associated with those procedures and likewise so envision sorry I'm just I was just gon na say picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely 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 try to browse them and actually see what was going on and kind of shot to get back to everyone so carrying on appearance why do companies pick to primary separate savings account there are organizations out there doing precisely this for specific countries and I have actually operated in a company or lots of services doing exactly that I can say it doesn't always feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anybody where we don't need to and any person 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 many reasons one is it's the requirement I think people have actually got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions however 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 gone past to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I believe this is a process that requires looking at it requires altering however ultimately people are extremely stuck with what they recognize
with right um change is a difficult thing all of us do not like modification um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving multiple checking account however there's a substantial quantity of intricacy chooses establishing a savings account preserving it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for specific individuals so the intricacy is big however I believe the truthful response is modification um people have not had the ability to change or haven't had always 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 believe it is understanding you know and there is a component of resistance to change but we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this method does present numerous obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like 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 closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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