Find out more about Papaya Global Background Update ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and trusted method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business offer competitive benefits plans to worldwide workers no matter the number of staff members in the business. The company can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local advantages suppliers in every nation, create regional accounts and have a minimum number of workers.
The HR capabilities supplied by Global HR encompass various functions such as keeping an eye on holiday time, making sure compliance, helping with the process of inviting new workers and bidding goodbye to leaving ones, providing a protected online platform for saving workers' files, and providing support for work permit treatments in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, total employment costs distributed per location, total work costs per cycle and a lot more.
Worldwide, I have actually demonstrated management and strategic knowledge in directing massive populations of over 100,000 employees across 170 nations. Presently, I are accountable for managing payroll techniques, as mentioned by Mark. My role includes managing and developing external partnerships, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for most influential companies on the planet we offer payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon great night depending upon where you are in the world it's beautiful 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 10 years and specifically working on the payroll and payment sector for over seven years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually sort of had a range of different functions on the company side and also on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing 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 everyone comes 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 raining here it's very extremely gloomy and I want I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Global payroll payments as a strategic possession uh we'll likewise review a wrap-up and that ought to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more typical and handling them becomes increasingly more intricate International organizations are seeking to find Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment perspective numerous organizations preserve different bank account just for payroll while some have numerous accounts in various countries does it make sense for business to maintain separate checking account often in different nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies improve the episode complex procedures of
Making sure accurate, effective, and prompt payroll payments is a complex obstacle for companies operating worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, discover how business anticipate payroll costs to optimize working capital, and discover how enhancing global payroll payments can transform them from a challenging job into a tactical asset.
Handling payroll internationally is a difficult task due to different regulations, compliance requirements, data security concerns, and banking guidelines. The large number of workers and services adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual processes, information silos, and a lack of integration, resulting in inconsistencies and inadequacies. Regardless of living in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to offer insights and services to simplify and optimize global payroll payments.
about it to provide you a concept 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 offers me sleep deprived nights and quite frankly the more a business spends on international payroll the less of an image they see an absence of exposure likewise reaches payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of international companies have 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 because of time reporting poor HCM information data entry mistakes badly interacted hires and terminations as well as absence management and system setups and after that when you round it all off and the information is delivered to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they depend on the required numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and say what is it what does not need to be included best and what does
it require to be thought about 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 capabilities 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 client's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely critical however all over you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link 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 allowing us to sort of progress with that it likewise too to add to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely essential that payroll and finance groups work better together than ever um I'm constantly impressed when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market 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 but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to contribute to sort of the level of complexity there's a growing number of benefits being organ or being provided by services across the world so again you're just wanting to add increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or genuine challenging sort of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would certainly say that the bigger a business 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 in fact handling the payment side of things however you understand 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 need to produce additional handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an era of tech and an era that you understand that we are working in today there is no reason that we are still making this as hard as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any company has from an expense viewpoint from an impact perspective on workers it is absolutely crucial that it's done properly and on time so what we imply 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 destructive effect on individuals's well-being and many other elements if individuals aren't paid uh I've always been astonished coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout 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 an essential cycle, and individuals only see when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally as well. For that reason, it is important to make sure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the first Global Payments first payroll payment solution is a great preliminary step towards offering an extensive payroll solution for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and checking account needed for global payroll are key factors in achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as planned. Ultimately, we do not do it for the gratitude.
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 easy as possible for everyone that's involved in those procedures and likewise so think of sorry I'm just I was just gon na state think of 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 speaking about hundreds of thousands potentially Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task trying to clean up all those up for sure oh definitely I can't picture 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 really see what was going on and sort of shot to return to everyone so proceeding appearance why do business select to main separate savings account there are businesses out there doing precisely this for particular countries and I've operated in a service or many services doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not deliberately doing that we're not developing additional work for anyone where we do not have to and anyone that's dealing with 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 believe lots of factors one is it's the requirement I believe individuals have got so used to we require a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs taking a look at it needs changing however eventually people are really stuck with what they're familiar
with best um modification is a difficult thing all of us do not like modification um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having keeping numerous bank accounts but there's a big quantity of complexity opts for establishing a savings account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is huge but I believe the honest response is change um individuals haven't been able to change or have not had always the knowledge to actually make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to monitor and this approach does present several difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this improved capability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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