Find out more about Papaya Global Course Ayrshire ... 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 gotten a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and trustworthy approach of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Employee Portal
Employees have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to international workers despite the number of workers in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source regional advantages companies in every nation, create local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total employment costs distributed per place, overall employment costs per cycle and a lot more.
Globally, I have shown management and tactical know-how in assisting massive populations of over 100,000 employees across 170 countries. Presently, I am responsible for overseeing payroll strategies, as pointed out by Mark. My role involves managing and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
business to make the time 100 list for a lot of influential business on the planet we offer payroll payments and workforce management to all worker key ins 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 introduce yourself of course thank you good morning excellent afternoon great night depending upon where you remain in the world it's beautiful to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've kind of had a variety of various roles on the service provider side and also on the vendor side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually 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 very extremely uninspiring and I want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll likewise discuss a recap and that ought to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and managing them ends up being increasingly more complicated Global companies are wanting to discover Solutions and new ways to streamline processes especially from a payroll and cross-border payment standpoint numerous organizations preserve different savings account just for payroll while some have multiple accounts in various nations does it make good sense for business to maintain separate checking account sometimes in various nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies enhance the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for businesses running internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to enhance working capital, and find how improving worldwide payroll payments can change them from a troublesome task into a strategic possession.
Handling payroll globally is a difficult job due to numerous policies, compliance requirements, data security issues, and banking guidelines. The sheer variety of workers and businesses contributes to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and a lack of integration, causing inconsistencies and inefficiencies. Regardless of residing in an age of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar objectives to supply insights and solutions to simplify and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a company spends on global payroll the less of a photo they see an absence of presence also encompasses payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of global organizations have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors badly communicated hires and terminations in addition to lack management and system setups and then when you round everything off and the information is shipped to the incorrect location the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they rely on the required several procedures 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 business face when they're paying to employees or otherwise that's a great concern I constantly toss this back and say what is it what does not require to be included right and what does
it require to be considered 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 intricacy anywhere you look best eventually developing a knowledge base is definitely important however all over you look with payroll payment they are like very 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 in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to kind of progress with that it also also to add to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm always surprised when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to add to sort of the level of complexity there's more and more benefits being organ or being offered by organizations across the world so again you're just looking to include increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or real challenging type of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would certainly say that the bigger a service 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 groups feeding information into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we need to create additional handoffs in the processes that we run in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you said payroll is the single greatest liability that any service has from an expense perspective from an impact viewpoint on staff members it is definitely important 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 need to be done right it has the greatest harmful result on people's well-being and numerous other elements if individuals aren't paid uh I have actually constantly been astonished coming into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done properly so leveraging the first International Payments first payroll payment solution is a fantastic first step um providing an end-to-end payroll solution for your staff members globally again I believe is another huge um procedure again lining up and ensuring you have standardization International processes all of those things are definitely crucial to success success of organizations and reducing the variety of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyway we understand how how essential a role 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 easy as possible for everybody that's associated with those procedures and likewise so envision sorry I'm simply I was simply gon na say envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that lots of 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 absolutely be a fascinating task trying to clean up all those up for sure oh absolutely I can't envision 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 in fact see what was going on and kind of try to get back to everyone so carrying on appearance why do business choose to primary separate bank accounts there are companies out there doing exactly this for particular nations and I've worked in a service or many businesses doing exactly that I can state it doesn't always feel effective and it does produce more work I understand we're not purposely doing that we're not developing additional work for anybody where we do not need to and anybody 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 numerous reasons one is it's the requirement I believe individuals have got so used to we need a new bank account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I believe this is a process that needs looking at it needs changing but eventually individuals are very stuck with what they're familiar
with best um modification is a challenging thing all of us don't like modification um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having preserving several bank accounts however there's a huge quantity of intricacy opts for setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the intricacy is substantial but I think the sincere response is change um people haven't had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century or two there is a lot to keep track of and this technique does posture a number of challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I just recently made a change to our Business 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 gotten another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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