Find out more about Papaya Global Course Crawley ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and reputable approach of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Employee Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and work files. 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 advantages packages to international employees regardless of the variety of staff members in the business. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source regional benefits companies in every nation, create regional accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total employment expenses dispersed per location, overall employment expenses per cycle and a lot more.
environments across the globe I provided management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business handling and building external relationships supporting Business clients and options along with serving as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for a lot of influential business in the world we provide payroll payments and workforce management to all worker key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good night depending on where you remain in the world it's charming to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was fascinated 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 5 or six years where I have actually type of had a range of various roles on the provider side and likewise on the supplier side from a payroll point of view so actually anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why business preserve separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a tactical property uh we'll likewise 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 recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and managing them becomes increasingly more complex Worldwide companies are wanting to find Solutions and new methods to simplify processes especially from a payroll and cross-border payment viewpoint many companies keep different bank account just for payroll while some have numerous accounts in different countries does it make good sense for business to maintain different checking account often in different nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational business streamline the episode complex processes of
Making sure accurate, efficient, and prompt payroll payments is a complex obstacle for organizations operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, find out how business forecast payroll costs to optimize working capital, and find how enhancing global payroll payments can change them from a burdensome job into a strategic possession.
Managing payroll worldwide is a difficult task due to different guidelines, compliance requirements, information security concerns, and banking rules. The large variety of employees and organizations adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems often lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and inadequacies. In spite of residing in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to supply insights and solutions to simplify and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service spends on international payroll the less of a picture they see an absence of presence likewise extends to 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 companies have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry mistakes improperly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the data is shipped to the wrong place the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they rely on the required multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles company face when they're making payments to workers or otherwise that's a great concern I constantly throw this back and say what is it what does not require to be consisted of 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 country there's payment timespan 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 client's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is absolutely vital but all over you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind of link 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 technology is enabling us to kind of move forward with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely important that payroll and financing groups work more detailed together than ever um I'm constantly impressed when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market 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 people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to add to sort of the level of intricacy there's more and more benefits being organ or being offered by companies throughout the world so again you're simply looking to add a growing number of payments to this already intricate landscape so if you kind 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 real obstacles or genuine difficult type of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would absolutely say that the bigger a service 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 opinion and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we operate 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 age that you know that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single greatest liability that any business has from a cost viewpoint from an impact perspective on employees it is definitely important that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant harmful effect on people's well-being and lots of other factors if individuals aren't paid uh I've always been astonished entering this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals only see when things go wrong. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's viewed externally also. For that reason, it is important to ensure that tasks like Wi-Fi Global and other essential matters are done properly. Utilizing the first International Payments first payroll payment solution is a terrific preliminary step towards offering a detailed payroll option for employees worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and checking account essential for international payroll are key consider attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyhow we know how how crucial a role 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 everybody that's associated with those procedures and also so picture sorry I'm just I was simply gon na state imagine 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 speaking about hundreds of thousands possibly Millions envision getting that numerous 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 definitely be an intriguing job attempting 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 try to check out them and actually see what was going on and type of shot to get back to everyone so proceeding look why do business choose to primary different checking account there are businesses out there doing precisely this for particular countries and I have actually worked in an organization or many services doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not producing additional work for anybody where we do not need 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 amount that we are I think lots of factors one is it's the standard I believe people have actually got so utilized to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply 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 people have actually looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I believe this is a process that requires looking at it requires changing however ultimately people are really stuck to what they're familiar
with right um change is a tough thing we all do not like modification um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having keeping several bank accounts however there's a huge quantity of intricacy chooses setting up a checking account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for private people so the complexity is huge but I think the sincere answer is change um individuals haven't had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter however we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century or two there is a lot to track and this technique does posture several obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you deserve a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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