Find out more about Papaya Global Bmrc Notice Coding ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and trusted approach of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Employee Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work files. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive benefits packages to worldwide staff members despite the number of employees in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source regional benefits providers in every country, develop regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, total work costs distributed per place, total work expenses per cycle and a lot more.
Globally, I have actually demonstrated leadership and tactical competence in assisting large-scale populations of over 100,000 workers throughout 170 nations. Currently, I are accountable for managing payroll strategies, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on providing payroll and labor force management services to employees 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, no matter 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 company. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The intricacies and obstacles of this field have always captivated me.
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've sort of had a variety of different functions on the company side and also on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely dreary and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a strategic property uh we'll also discuss a recap which should leave his time at the extremely extremely 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 International labor forces become increasingly more common and handling them becomes more and more complicated Worldwide companies are seeking to find Solutions and brand-new methods to enhance procedures particularly from a payroll and cross-border payment perspective numerous companies maintain separate savings account just for payroll while some have multiple accounts in various nations does it make good sense for business to maintain separate savings account sometimes in various countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational companies enhance the episode complex procedures of
making payroll payments precisely efficiently securely and on time during this webinar we'll walk you through the worldwide pros and cons 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 possession so payroll can be tough in enough in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most notably policies compliance information security and banking rules then there are the large numbers they include more intricacy the global Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll model there's frequently a frustrating number of different systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in big quantities and or very really fundamental there's no genuine consistency structure we're residing in an era 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 frequently with pen and paper and that just blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce 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 a lack of presence also encompasses payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of international businesses have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors improperly interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges business face when they're making payments to staff members or otherwise that's a great question I always toss this back and say what is it what does not need to be included best 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 capabilities 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is absolutely important but all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort 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 fundamental and innovation is allowing us to type of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely necessary that payroll and financing teams work closer together than ever um I'm constantly surprised when people say I have actually split 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 divide 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more crucial to add to type of the level of complexity there's more and more benefits being organ or being provided by organizations throughout the world so again you're simply wanting to include more and more payments to this already intricate landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine difficulties or genuine challenging sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments works 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 handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we operate in they just make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any service has from a cost point of view from an effect point of view on workers it is definitely vital 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 harmful impact on people's well-being and numerous other factors if people aren't paid uh I have actually constantly been amazed entering into this Market type of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only discover when things fail. However, when things go right, it's seen as just a routine task. This is how it's viewed externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Using the very first Worldwide Payments first payroll payment service is an excellent preliminary step towards supplying a detailed payroll solution for employees worldwide. Standardization, worldwide procedures, and minimizing the variety 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 periodically receive a couple of complaints when things do not go as planned. Eventually, we don't do it for the appreciation.
anyway we know 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 simple as possible for everybody that's associated with 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 might cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I indicate 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 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 attempt to check out them and actually see what was going on and type of try to return to everyone so proceeding appearance why do companies choose to primary separate checking account there are businesses out there doing exactly this for specific countries and I've operated in a service or lots of companies doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not intentionally doing that we're not producing extra work for any person where we do not have to and anybody that's handling 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 numerous factors one is it's the standard I believe people have got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a procedure that requires looking at it requires altering but eventually people are very stuck with what they recognize
with best um change is a difficult thing all of us do not like change um so I believe it's just sort 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 comprehend obviously the advantages of having keeping multiple checking account however there's a substantial amount of intricacy opts for setting up a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the intricacy is substantial but I believe the sincere answer is change um people have not been able to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter however we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century or so there is a lot to keep an eye on and this approach does position a number of obstacles um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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