Find out more about Papaya Global Courses Edinburgh ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and trustworthy technique of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Staff member Portal offers workers with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps business use competitive benefits bundles to international staff members regardless of the variety of workers in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every country, develop local accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall employment costs dispersed per area, total employment expenses per cycle and a lot more.
Worldwide, I have actually shown leadership and strategic know-how in assisting massive populations of over 100,000 staff members across 170 countries. Currently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My function involves managing and establishing external partnerships, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for many prominent business on the planet we supply payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon excellent evening depending on where you are in the world it's beautiful to meet 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 10 years and specifically working on the payroll and payment sector for over seven years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've sort of had a range of various functions on the service provider side and also on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just 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 remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really extremely dreary and I wish I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies preserve separate
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for organizations running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, find out how companies anticipate payroll expenses to optimize working capital, and find how improving global payroll payments can change them from a challenging job into a strategic asset.
Managing payroll globally is a challenging job due to various guidelines, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and organizations adds to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual processes, information silos, and a lack of combination, resulting in disparities and ineffectiveness. In spite of residing in an age of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and services to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of an image they see an absence of presence likewise extends to payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of international businesses 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 data entry errors improperly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the average expense 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 smoothly if they rely on the essential several procedures 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 difficulties company face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what does not require to be included best and what does
it require to be considered 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 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 client's own in-country account so there's complexity anywhere you look best eventually constructing a knowledge base is absolutely vital but everywhere 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 look at the kind of link 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 allowing us to sort of progress with that it likewise also to add to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely vital that payroll and finance teams work closer together than ever um I'm constantly amazed when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however also 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 contribute to sort of the level of complexity there's a growing number of advantages being organ or being used by organizations throughout the world so again you're just looking to include more and more payments to this already intricate landscape so if you type of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real challenges or real challenging sort of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups 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 need to develop additional handoffs in the processes that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason we are still making this as challenging as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from an expense viewpoint from an impact perspective on workers it is absolutely vital that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging effect on people's well-being and numerous other factors if individuals aren't paid uh I've always been amazed coming into this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle we all find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment option is a great first step um offering an end-to-end payroll option for your staff members internationally again I think is another big um process again lining up and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of businesses and lowering the variety of tools platforms and savings account they require for their Global 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've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyway we understand how how essential a function 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 likewise so envision sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and kind of shot to return to everybody so moving on look why do companies select to primary separate bank accounts there are services out there doing precisely this for particular countries and I have actually worked in a company or numerous businesses doing precisely that I can state it does not constantly feel effective and it does create more work I know we're not purposely doing that we're not creating extra work for anyone where we do not have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I think individuals have got so used to we require a new bank account we open an entity and rightly so you require it for payroll functions but 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 individuals have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I think this is a process that requires looking at it needs changing however ultimately individuals are very stuck to what they recognize
with best um change is a difficult thing all of us do not like modification um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having keeping several checking account but there's a big quantity of intricacy chooses establishing a savings account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private people so the intricacy is big however I believe the truthful answer is modification um people have not been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could almost be determined to be the next Century or so there is a lot to track and this approach does pose numerous difficulties um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I simply 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 Global staff members you should have a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Aeo