Find out more about Papaya Global Course Reviews ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a protected and dependable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll process, conserving me a considerable quantity of time every month. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Employee Portal supplies employees with the capability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive benefits packages to global staff members regardless of the variety of staff members in the company. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional advantages suppliers in every nation, develop regional accounts and have a minimum variety of staff members.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total employment expenses dispersed per place, overall work expenses per cycle and a lot more.
Internationally, I have shown leadership and strategic competence in assisting massive populations of over 100,000 staff members across 170 countries. Currently, I are accountable for managing payroll methods, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have always captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually type of had a range of different functions on the provider side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already just 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 remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very gloomy and I want I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Global payroll payments as a tactical asset uh we'll also go over a wrap-up which should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being increasingly more common and handling them becomes a growing number of complex International organizations are looking to find Solutions and brand-new methods to enhance procedures especially from a payroll and cross-border payment viewpoint lots of organizations keep separate savings account just for payroll while some have numerous accounts in various nations does it make sense for companies to maintain different bank accounts often in different nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational companies simplify the episode complex processes of
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of factors most importantly regulations compliance information security and banking guidelines then there are the large numbers they add more intricacy the global Workforce is currently three and a half billion people by 2030 it's approximated 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 services and growing all doing their own thing around the world in the traditional payroll model there's typically an overwhelming variety of different systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in large amounts and or very really standard there's no real consistency framework we're residing in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies 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 an image they see an absence of presence likewise extends to payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide organizations have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors poorly interacted hires and terminations along with lack management and system setups and after that when you round everything off and the data is delivered to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they depend on the essential numerous 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 making payments to employees or otherwise that's a great concern I always toss this back and state what is it what does not require to be consisted of ideal and what does
it need 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 capabilities 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is absolutely crucial but all over you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you 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 fundamental and innovation is enabling us to sort of progress with that it also as well to contribute to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely necessary that payroll and finance teams work more detailed together than ever um I'm constantly impressed 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 profession 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 people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to contribute to type of the level of intricacy there's more and more benefits being organ or being used by companies across the world so again you're simply looking to add a growing number of payments to this already complicated landscape so if you kind 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 difficulties or genuine tough kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments works 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 handling the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to develop extra handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and a period that you know that we are working in today there is no reason that we are still making this as difficult as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from a cost point of view from an impact viewpoint on staff members it is definitely important 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 harmful result on individuals's wellness and lots of other factors if people aren't paid uh I've always been amazed coming into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle all of us hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just 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 things is absolutely crucial that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment option is a terrific initial step um supplying an end-to-end payroll solution for your employees worldwide again I think is another big um process again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely key to success success of services and decreasing the number of tools platforms and savings account they need for their Worldwide 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 ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're implied to be um I do not think any of us are really doing that for for the thanks
anyhow 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 easy as possible for everyone that's associated with those procedures and likewise so envision sorry I'm just I was just gon na say imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision 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 definitely be an interesting 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 was the case um you 'd need days of the week to attempt to look through them and really see what was going on and kind of try to return to everyone so carrying on appearance why do companies pick to primary separate checking account there are businesses out there doing precisely this for particular nations and I have actually worked in an organization or many companies doing precisely that I can say it does not always feel effective and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not have to and any person that's handling 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 amount that we are I think lots of reasons one is it's the requirement I think people have actually got so used to we require a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I think this is a process that requires taking a look at it requires changing however eventually people are really stuck to what they're familiar
with right um change is a hard thing all of us do not like change 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 understand obviously the advantages of having preserving numerous bank accounts however there's a substantial quantity of intricacy chooses establishing a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private people so the complexity is big however I think the honest answer is modification um people haven't been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to change however we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might practically be identified to be the next Century or two there is a lot to track and this approach does pose several challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I just did you switched our Business 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 Global workers you are worthy of a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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