Find out more about Papaya Global Auto Enrolment Training ... 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 acquired a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and reliable method of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Staff member Website provides staff members with the capability to access and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists companies use competitive benefits packages to global workers regardless of the variety of employees in the company. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits companies in every country, produce local accounts and have a minimum variety of workers.
The HR capabilities offered by Global HR encompass various functions such as monitoring vacation time, guaranteeing compliance, helping with the process of inviting new staff members and bidding goodbye to departing ones, offering a safe and secure online platform for keeping workers' files, and providing support for work allow procedures in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, total work expenses distributed per place, total work costs per cycle and a lot more.
Worldwide, I have shown leadership and tactical knowledge in assisting massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for overseeing payroll methods, as pointed out by Mark. My function involves handling and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a global business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment options for the past seven years. The intricacies and challenges of this field have actually always captivated me.
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 variety of various functions on the service provider side and also on the vendor side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give 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 kind of let them do that so it 'd be rather interesting and I can see it going on currently just 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 certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really really bleak and I want I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why business maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a tactical property uh we'll likewise discuss a wrap-up which needs to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of common and managing them ends up being increasingly more complex Global organizations are looking to discover Solutions and new methods to simplify procedures particularly from a payroll and cross-border payment standpoint numerous companies maintain different savings account just for payroll while some have several accounts in different nations does it make sense for companies to keep different savings account sometimes in various nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting international business streamline the episode complex processes of
making payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in enough in one nation but when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most significantly guidelines compliance data security and banking guidelines then there are the large numbers they add further complexity the worldwide Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people 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 around the globe in the standard payroll model there's frequently an overwhelming variety of different systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in big amounts and or very very basic there's no genuine consistency structure 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 typically with pen and paper which just blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business spends on international payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of global services have actually expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors poorly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the data is delivered to the wrong place the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they depend on the required several 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 service face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it need 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 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 customer's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind 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 permitting us to sort of progress with that it also also to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely crucial that payroll and finance teams work better together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you walk down the street and asked anybody 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 typically 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 anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more important to add to sort of the level of complexity there's a growing number of benefits being organ or being provided by organizations throughout the world so once again you're just wanting to add more and more payments to this currently intricate landscape so if you type of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine obstacles or real difficult sort of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding information into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to create additional handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you understand that we are working in today there is no reason we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any company has from an expense viewpoint from an effect point of view on employees it is definitely critical that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive effect on individuals's well-being and numerous other aspects if people aren't paid uh I have actually always been amazed entering into this Market type of the last 5 to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just see when things go wrong. However, when things go right, it's seen as simply a regular task. This is how it's perceived externally also. Therefore, it is necessary to ensure that tasks like Wi-Fi International and other crucial matters are done correctly. Utilizing the very first Global Payments very first payroll payment solution is a great preliminary step towards offering a comprehensive payroll option for staff members worldwide. Standardization, global processes, and reducing the number of tools, platforms, and checking account necessary for international payroll are key consider accomplishing service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things don't go as planned. Eventually, we do not do it for the thankfulness.
anyway we understand 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 simple as possible for everyone that's associated with those procedures and also so picture sorry I'm just I was simply gon na say envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and type of shot to get back to everyone so proceeding look why do companies pick to main separate savings account there are companies out there doing exactly this for particular nations and I have actually operated in a company or numerous companies doing exactly that I can state it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not producing extra work for anybody where we do not need to and anyone that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I think people have got so used to we require a brand-new checking account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it needs altering however ultimately individuals are extremely stuck with what they're familiar
with ideal um modification is a hard thing we all don't like change um so I believe it's just kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having keeping numerous checking account but there's a huge quantity of intricacy goes with setting up a bank account preserving it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the intricacy is substantial but I think the honest response is change um people have not had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to track and this approach does posture numerous obstacles um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I just 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 employees you deserve a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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