Find out more about Papaya Global Courses Croydon ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This provides us with a secure and reliable approach of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Employee Portal
Workers have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits packages to international staff members no matter the number of employees in the business. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local advantages service providers in every nation, produce regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment expenses distributed per area, overall employment expenses per cycle and a lot more.
Globally, I have demonstrated management and tactical knowledge in assisting massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for supervising payroll strategies, as mentioned by Mark. My function includes managing and developing external collaborations, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for the majority of influential business in the world we supply payroll payments and workforce management to all worker key ins over 160 countries 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 great night depending upon where you remain in the world it's charming 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 dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different roles on the service provider side and likewise on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone comes 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 extremely extremely gloomy and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Global payroll payments as a tactical property uh we'll likewise review a recap and that must leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and managing them becomes more and more complicated International organizations are aiming to find Solutions and new ways to improve processes specifically from a payroll and cross-border payment viewpoint numerous companies keep different checking account just for payroll while some have multiple accounts in different nations does it make good sense for business to keep different savings account in some cases in different nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies simplify the episode complex procedures of
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most notably guidelines compliance information security and banking guidelines then there are the sheer numbers they add more complexity the global Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll model there's typically a frustrating variety of different systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or extremely extremely standard there's no genuine consistency structure 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 frequently with pen and paper and that simply blows my mind every time I I believe
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 offers me sleepless nights and quite frankly the more a company spends on worldwide payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide services have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the data is shipped to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they depend on the essential several procedures systems and partners it is just 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 paying to workers or otherwise that's an excellent question I constantly throw this back and say what is it what does not need to be included right and what does
it require to be thought about 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 need to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity wherever you look right ultimately building a knowledge base is definitely vital but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to type of move forward with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely vital that payroll and finance groups work closer together than ever um I'm constantly amazed when individuals say 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on wellness and the settlement landscape is ending up being increasingly elaborate. Businesses are continually introducing new advantages and payment options, which adds to the overall intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't need to be the case. In today's technically sophisticated period, there's no justification for maintaining cumbersome treatments. Payroll, the business's most significant expenditure, must be processed correctly and on time. Even minor delays can negatively affect staff members' well-being and have far-reaching effects. Therefore, it's vital to focus on precise and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just observe when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. Therefore, it is essential to make sure that tasks like Wi-Fi International and other crucial matters are done correctly. Utilizing the first Global Payments very first payroll payment service is a fantastic initial step towards supplying a thorough payroll solution for staff members worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and checking account necessary for global payroll are crucial consider attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things don't go as planned. Eventually, we don't do it for the gratitude.
anyhow we understand how how crucial 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 simple as possible for everyone that's involved in those procedures and also so imagine sorry I'm just I was simply gon na say picture the amount 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 numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job trying 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 need days of the week to attempt to check out them and really see what was going on and kind of try to get back to everybody so proceeding look why do business choose to main different checking account there are organizations out there doing precisely this for particular countries and I've worked in a company or many organizations doing exactly that I can state it doesn't always feel efficient and it does create more work I understand we're not deliberately doing that we're not producing additional work for anybody where we do not have to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe 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 however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I believe this is a process that requires taking a look at it requires altering however ultimately people are really stuck to what they recognize
with best um modification is a hard thing all of us don't like modification um so I believe it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping several checking account but there's a big amount of complexity chooses setting up a savings account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the complexity is big however I believe the sincere answer is change um people have not had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to change but we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be identified to be the next Century approximately there is a lot to keep track of and this method does present numerous challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I recently made a change to our Business 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 actually acquired another CFO, and with this improved capability, I have effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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