Find out more about Papaya Global Course Edinburgh ... We now have the ability to manage 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 devoted to managing payments. This provides us with a safe and secure and trustworthy method of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Worker Portal offers workers with the ability to access and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to global staff members despite the variety of employees in the company. The business can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source local benefits suppliers in every country, develop regional accounts and have a minimum variety of workers.
The HR capabilities offered by Global HR include numerous functions such as keeping track of trip time, making sure compliance, assisting in the process of inviting brand-new employees and bidding farewell to leaving ones, offering a secure online platform for storing workers' documents, and offering support for work permit treatments in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall employment costs distributed per area, overall work expenses per cycle and much more.
environments across the globe I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise customers and options along with functioning as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential business on the planet we provide payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon excellent night depending upon where you remain in the world it's lovely to satisfy 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've been in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've kind of had a variety of various roles on the service provider side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very very gloomy and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies preserve different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll likewise discuss a wrap-up which ought to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being a growing number of common and managing them becomes increasingly more complex International companies are wanting to discover Solutions and brand-new methods to streamline processes particularly from a payroll and cross-border payment viewpoint many organizations preserve separate savings account just for payroll while some have multiple accounts in various nations does it make good sense for business to keep separate bank accounts often in various nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies streamline the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for organizations running worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, learn how companies forecast payroll costs to optimize working capital, and find how streamlining worldwide payroll payments can change them from a difficult task into a strategic property.
Handling payroll globally is a complicated task due to numerous guidelines, compliance requirements, data security issues, and banking rules. The sheer number of employees and services adds to the intricacy, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of integration, leading to disparities and ineffectiveness. In spite of residing in an era of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to provide insights and options to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization invests in global payroll the less of an image they see a lack of visibility likewise extends to payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide companies have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes poorly communicated hires and terminations along with absence management and system configurations and after that when you round everything off and the data is delivered to the wrong place the average cost of a global 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 count 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 requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be included best and what does
it need to be thought of there's differing 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 complexity any place you look ideal eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type 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 absolutely fundamental and technology is enabling us to type of move forward with that it also too to add to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely important that payroll and finance teams work better together than ever um I'm constantly surprised when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to contribute to kind of the level of complexity there's increasingly more benefits being organ or being used by services throughout the world so again you're simply seeking to add increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine challenges or genuine tough type of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of years I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually managing the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to create additional handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and an era that you understand that we are working in today there is no reason that we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any organization has from a cost viewpoint from an effect point of view on workers it is absolutely crucial that it's done properly 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 most significant damaging impact on people's well-being and many other factors if people aren't paid uh I've always been surprised entering this Market kind of the last five to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just notice when things go wrong. However, when things go right, it's seen as simply a routine job. This is how it's perceived externally too. Therefore, it is essential to ensure that tasks like Wi-Fi Global and other essential matters are done correctly. Using the first International Payments first payroll payment option is a fantastic initial step towards supplying a detailed payroll option for employees worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and savings account necessary for global payroll are key factors in attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyway we understand how how important 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 simple as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm just I was just gon na state picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions picture getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and sort of try to get back to everybody so carrying on look why do companies pick to primary different checking account there are organizations out there doing exactly this for specific nations and I have actually worked in a company or lots of 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 anyone where we do not have to and anybody that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many reasons one is it's the requirement I think individuals have actually got so used to we need a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs changing however eventually individuals are really stuck with what they're familiar
with best um modification is a tough thing all of us don't like change um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having maintaining multiple savings account but there's a huge quantity of intricacy chooses establishing a bank account keeping it ensuring it can send International transfers ensuring it's set up with the right user accesses for individual individuals so the complexity is substantial but I think the sincere answer is modification um people haven't been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century or so there is a lot to keep an eye on and this method does position numerous challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a range 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 more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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