Find out more about Papaya Global Courses Aberdeen ... 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 actually obtained a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and secure and reliable method of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Worker Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive advantages plans to global workers despite the number of workers in the business. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local advantages providers in every nation, produce local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total employment costs distributed per place, total work expenses per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work across the business handling and building external relationships supporting Enterprise customers and services in addition to acting as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The intricacies and obstacles of this field have actually constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've type of had a variety of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort 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 truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really extremely dreary and I wish I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide 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 Worldwide payroll payments as a strategic asset uh we'll likewise discuss a recap and that should leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of typical and handling them becomes increasingly more intricate Global organizations are wanting to discover Solutions and brand-new ways to simplify procedures especially from a payroll and cross-border payment standpoint many companies keep separate savings account just for payroll while some have several accounts in different countries does it make sense for companies to preserve separate savings account often in different nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies improve the episode complex processes of
making payroll payments properly effectively firmly and on time during this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they include further intricacy the international Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the traditional payroll design there's frequently a frustrating number of different systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or very extremely basic there's no genuine consistency framework we're living in an age of tech but payroll has 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 each time I I believe
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 information in real time that's another number that gives me sleep deprived nights and rather honestly the more a business spends on international payroll the less of an image they see an absence of exposure also 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 worldwide businesses have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry mistakes poorly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the data is delivered to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they count on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles business face when they're making payments to employees or otherwise that's a good concern I constantly toss this back and say what is it what doesn't need to be included best and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities 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 consumer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is definitely critical but all over you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 absolutely basic and technology is allowing us to sort of progress with that it also too to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely essential that payroll and finance teams work closer together than ever um I'm always amazed when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate 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 people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to add to sort of the level of intricacy there's more and more benefits being organ or being provided by organizations across the world so once again you're simply looking to add a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real challenges or genuine challenging type of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding info into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs in the processes that we operate in they simply make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and an age that you understand that we are working in today there is no reason we are still making this as challenging as it requires to be agreed and rightly as you said payroll is the single greatest liability that any organization has from an expense point of view from an effect perspective on employees it is absolutely vital that it's done correctly and on time so what we imply 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 destructive result on individuals's wellness and many other elements if people aren't paid uh I have actually constantly been surprised coming into this Market sort of the last 5 to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle all of us find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe 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 things is done correctly so leveraging the very first International Payments very first payroll payment solution is a terrific primary step um providing an end-to-end payroll option for your employees globally again I think is another big um procedure again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of organizations and decreasing the number of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints 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 understand how how important 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 processes and also so envision sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and in fact see what was going on and sort of try to get back to everyone so carrying on look why do companies select to main separate savings account there are companies out there doing precisely this for particular countries and I've worked in a business or lots of businesses doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not intentionally doing that we're not developing extra work for anybody where we do not need to and anyone that's managing 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 think lots of reasons one is it's the requirement I think individuals have actually got so utilized to we require a new checking account we open an entity and appropriately 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 standard and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I think this is a procedure that requires taking a look at it requires altering however eventually people are really stuck with what they recognize
with ideal um modification is a challenging thing we all don't like change um so I believe it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having keeping several bank accounts but there's a huge amount of complexity goes with establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for individual people so the complexity is huge but I believe the truthful response 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 aside from opening a savings account I think you have actually struck the nail on the head I believe it is understanding you know and there is a component of resistance to change but we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could practically be figured out to be the next Century or two there is a lot to keep an eye on and this technique does posture a number of difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this enhanced capability, I have effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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