Find out more about Papaya Global Calculator 2022 ... 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 acquired a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and trusted method of paying to our 10,000 employees worldwide.}
The advanced international payroll management app streamlines my payroll procedure, conserving me a significant amount of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
The Worker Portal offers staff members with the ability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps companies provide competitive benefits bundles to worldwide employees despite the number of workers in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source regional advantages providers in every nation, create local accounts and have a minimum number of employees.
The HR abilities provided by Global HR include various functions such as keeping track of trip time, making sure compliance, facilitating the procedure of inviting new staff members and bidding goodbye to departing ones, offering a secure online platform for keeping workers' documents, and providing support for work allow procedures in case your employees need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall employment costs dispersed per location, overall work costs per cycle and much more.
Worldwide, I have shown leadership and strategic knowledge in directing massive populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for managing payroll strategies, as pointed out by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a global company, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've kind of had a variety of various roles on the provider side and also on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everyone is um it's nice to to sort 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 sunshine is it it's not no it's it's raining here it's really very uninspiring and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a tactical property uh we'll also review a recap and that needs to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more typical and handling them becomes a growing number of intricate Worldwide organizations are looking to discover Solutions and brand-new ways to improve processes particularly from a payroll and cross-border payment perspective lots of organizations preserve different checking account just for payroll while some have numerous accounts in various countries does it make good sense for business to maintain different bank accounts often in various countries it does however just for payroll exists a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business enhance the episode complex procedures of
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how business 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 tough in adequate in one country however when you're doing it globally it's next level and Beyond it ends up being intricate for a range of factors most notably policies compliance information security and banking guidelines then there are the large numbers they add further intricacy the worldwide Workforce is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll design there's often a frustrating variety of different systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in large amounts and or very really basic there's no real consistency structure we're residing in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind whenever I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more an organization spends on worldwide payroll the less of an image they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal almost half of global services have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors badly communicated hires and terminations in addition to absence management and system setups and then when you round all of it off and the data is delivered to the incorrect location the average expense of a worldwide data 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 smoothly if they rely on the essential multiple processes 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 obstacles service face when they're paying to employees or otherwise that's an excellent question I always toss this back and say what is it what does not need to be consisted of ideal and what does
it require to be considered there's differing 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 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 consumer's own in-country account so there's complexity any place you look best eventually building a knowledge base is definitely crucial however everywhere you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a 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 basic and technology is permitting us to sort of move forward with that it also too to add to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and financing groups work more detailed together than ever um I'm always impressed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on well-being and the compensation landscape is ending up being significantly elaborate. Organizations are continually introducing new advantages and payment choices, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into different teams, which can result in inadequacies and bottlenecks. In my opinion, this does not need to hold true. In today's highly advanced era, there's no justification for keeping troublesome treatments. Payroll, the company's most significant expenditure, must be processed properly and on time. Even small hold-ups can negatively affect employees' wellness and have significant repercussions. Therefore, it's important to prioritize accurate and prompt payments.
payroll group get um so I'm not sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle we all hear about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment solution is an excellent first step um supplying an end-to-end payroll solution for your workers worldwide again I believe is another substantial um process once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely crucial to success success of services and minimizing the number of tools platforms and savings account they require for their Global 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've never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone quite where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyway we know how how essential 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 involved in those procedures and also so picture sorry I'm simply I was just gon na state picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that lots of thank you notes 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 all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and actually see what was going on and sort of shot to get back to everyone so proceeding look why do companies choose to primary different savings account there are companies out there doing precisely this for specific nations and I've operated in a company or numerous services doing precisely that I can say it does not constantly feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for any person where we do not need to and anybody that's dealing with that procedure 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 numerous factors one is it's the standard I think people have actually got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I think this is a procedure that requires looking at it needs altering however ultimately people are really stuck to what they're familiar
with ideal um change is a tough thing all of us don't like change um so I think it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having maintaining several checking account but there's a huge amount of complexity goes with establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the complexity is substantial however I believe the sincere answer is modification um people have not had the ability to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no genuine reason 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 or two there is a lot to monitor and this technique does position a number of challenges um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is closer, considering your accomplishments.
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