Find out more about Papaya Global Calendar 2017 18 ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and dependable 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 professionals
Staff member Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to global workers despite the number of employees in the business. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional benefits suppliers in every country, create regional accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall employment costs dispersed per place, overall work expenses per cycle and far more.
Globally, I have actually demonstrated management and tactical know-how in directing massive populations of over 100,000 staff members across 170 countries. Currently, I am responsible for managing payroll techniques, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
business to make the time 100 list for most prominent business worldwide we provide payroll payments and labor force management to all staff member types in over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon good evening depending upon where you remain in the world it's charming to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and particularly dealing with 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 decided to type of make a genuine go at that over the last five or six years where I have actually type of had a range of different functions on the supplier side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today certainly 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 wish I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll likewise go over a wrap-up which needs to leave his time at the really 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 workforces end up being more and more typical and managing them becomes a growing number of intricate International companies are aiming to discover Solutions and new methods to enhance processes specifically from a payroll and cross-border payment perspective numerous organizations preserve separate savings account just for payroll while some have multiple accounts in various nations does it make sense for business to maintain different checking account in some cases in various countries it does however just for payroll is there a better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational business improve the episode complex processes of
making payroll payments precisely efficiently safely and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in enough in one country however when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of factors most importantly guidelines compliance data security and banking guidelines then there are the large numbers they add further complexity the global Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll design there's often a frustrating number of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in large amounts and or really very standard there's no genuine consistency framework we're living in an era of tech however 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 each 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 services say they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more a service invests in international payroll the less of a picture they see a lack of presence likewise extends to payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide companies have actually revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes poorly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the information is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they rely on the required multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges company face when they're paying to workers or otherwise that's a good question I always throw this back and state what is it what does not require to be consisted of right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 need to pay from the consumer's own in-country account so there's complexity wherever you look right eventually constructing a knowledge base is absolutely important however everywhere you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and innovation is permitting us to sort of progress with that it also also to add to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely vital that payroll and finance teams work closer together than ever um I'm constantly amazed when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of important to contribute to kind of the level of complexity there's more and more advantages being organ or being used by organizations throughout the world so once again you're simply wanting to include more and more payments to this currently intricate landscape so if you type 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 genuine challenges or genuine difficult sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of years I would definitely state that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding information into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we need to produce extra handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and a period that you understand that we are operating in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any company has from a cost perspective from an effect perspective 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 have to be done right it has the greatest damaging impact on individuals's wellness and many other factors if people aren't paid uh I have actually constantly been impressed entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody 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 important cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally too. For that reason, it is important to guarantee that jobs like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment service is a fantastic initial action towards offering a detailed payroll service for employees worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and bank accounts essential for global payroll are essential factors in achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyhow we understand how how essential 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 procedures and also so think of sorry I'm simply I was just gon na say envision 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 hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and in fact see what was going on and kind of try to get back to everyone so moving on look why do companies choose to main different checking account there are organizations out there doing exactly this for specific nations and I have actually worked in a company or many companies doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not purposely doing that we're not producing extra work for any person where we don't need to and any person that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the requirement I think people have actually got so used to we need a new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have embraced 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 ways um to to kind of do it so I think there's a range I believe this is a process that needs looking at it requires changing but ultimately people are extremely stuck to what they recognize
with best um modification is a difficult thing all of us do not like modification um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having keeping several bank accounts however there's a big amount of complexity goes with establishing a savings account keeping it guaranteeing 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 answer is change um individuals haven't had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change however we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could almost be identified to be the next Century approximately there is a lot to monitor and this approach does position several challenges um so Johnny might you inform us about those challenges yeah obviously so there's a range 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 International workers you are worthy of a corner workplace with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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