Find out more about Papaya Global Courses For Beginners ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and dependable approach of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Staff member Website offers employees with the ability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global helps business provide competitive advantages bundles to international employees no matter the number of staff members in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every nation, create regional accounts and have a minimum number of employees.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall work costs distributed per place, total work costs per cycle and far more.
Globally, I have demonstrated management and strategic knowledge in directing massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for managing payroll strategies, as pointed out by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
company to make the time 100 list for most influential business worldwide we offer payroll payments and workforce management to all employee key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent evening depending upon where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the trouble 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 range of different functions on the supplier side and likewise on the vendor side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very extremely dreary and I wish I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business keep separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll also go over a wrap-up which needs to leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of common and managing them becomes increasingly more complicated International organizations are looking to find Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment standpoint lots of companies preserve different bank account just for payroll while some have several accounts in different nations does it make sense for companies to keep separate savings account in some cases in different countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business streamline the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for companies operating internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and find how streamlining international payroll payments can transform them from a difficult job into a strategic possession.
Handling payroll internationally is a difficult job due to various guidelines, compliance requirements, data security issues, and banking guidelines. The large variety of workers and organizations adds to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and a lack of integration, resulting in disparities and inefficiencies. Despite residing in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to supply insights and solutions 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 organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a business spends on international payroll the less of a picture they see an absence of exposure also reaches payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of global organizations have actually revealed 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 information data entry mistakes inadequately communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is delivered to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they count on the required numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're making payments to staff members or otherwise that's a good concern I always toss this back and state what is it what does not require to be consisted of 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 country there's payment time frames there's payment abilities 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 consumer's own in-country account so there's complexity any place you look ideal ultimately building a knowledge base is absolutely crucial but all over you look with payroll payment they resemble extremely payments no if however some infants 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 recognition that payroll payments are definitely basic and innovation is allowing us to kind of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely essential that payroll and finance teams work more detailed together than ever um I'm always impressed when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work 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 typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are but 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 type of the level of intricacy there's more and more benefits being organ or being provided by companies throughout the world so again you're just looking to add more and more payments to this already complex landscape so if you type of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine obstacles or genuine tough sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of years I would definitely state that the larger an organization 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 teams feeding details into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we run 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 a period that you understand 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 rightly as you said payroll is the single biggest liability that any service has from an expense point of view from an impact perspective on workers it is definitely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental effect on individuals's well-being and lots of other elements if people aren't paid uh I have actually always been amazed entering this Market kind of the last five to ten years is how little thanks the
The payroll group may not have actually been thanked for properly 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 essential cycle, and people only notice when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. For that reason, it is essential to ensure that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the very first Global Payments very first payroll payment solution is a great preliminary step towards offering a thorough payroll option for workers worldwide. Standardization, worldwide procedures, and reducing the variety of tools, platforms, and bank accounts needed for international payroll are crucial consider attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things do not go as prepared. Eventually, we do not do it for the thankfulness.
anyhow we know how how crucial 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 everyone that's associated with those procedures and also so picture sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind 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 definitely I can't picture 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 actually see what was going on and sort of try to get back to everybody so carrying on look why do companies select to main separate checking account there are organizations out there doing precisely this for particular countries and I've worked in a service or numerous organizations doing exactly that I can say it does not always feel efficient and it does create more work I understand we're not intentionally doing that we're not creating extra work for any person where we don't have to and anyone that's dealing with 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 believe many factors one is it's the standard I believe individuals have got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a procedure that requires taking a look at it needs changing but ultimately people are extremely stuck with what they're familiar
with ideal um change is a tough thing all of us don't like modification um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having maintaining numerous bank accounts but there's a big quantity of intricacy chooses setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's set up with the right user accesses for specific people so the complexity is huge but I think the sincere response is modification um individuals have not had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change but we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to keep an eye on and this technique does posture a number of obstacles um so Johnny might you tell us about those challenges yeah of course so there's a range 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 employees you are worthy of a corner workplace with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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