Find out more about Papaya Global Courses Ireland ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and trusted approach of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app streamlines my payroll procedure, saving me a substantial amount of time every month. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Employee Portal provides employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits plans to international workers despite the variety of workers in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source local advantages companies in every country, create regional accounts and have a minimum variety of employees.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment expenses dispersed per place, total employment expenses per cycle and a lot more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work across business managing and structure external relationships supporting Business customers and options as well as functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last 5 or six years where I have actually type of had a range of different functions on the company side and also on the supplier side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days 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 everybody is um it's nice to to kind of like see where everyone originates 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 drizzling here it's very very uninspiring and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why business preserve different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll likewise go over a recap which ought to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more typical and handling them ends up being a growing number of complex Worldwide companies are seeking to find Solutions and brand-new ways to streamline processes particularly from a payroll and cross-border payment standpoint many organizations maintain separate checking account just for payroll while some have numerous accounts in various countries does it make good sense for business to keep different checking account sometimes in various countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies improve the episode complex processes of
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to optimize working capital, and discover how simplifying global payroll payments can transform them from a challenging task into a strategic property.
Handling payroll internationally is a difficult job due to various guidelines, compliance requirements, information security concerns, and banking rules. The large variety of staff members and services adds to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and an absence of integration, leading to disparities and inadequacies. Despite residing in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to offer insights and options to streamline and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more a business spends on global payroll the less of an image they see an absence of presence likewise extends to payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of international services have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes improperly communicated hires and terminations in addition to lack management and system setups and then when you round everything off and the information is shipped to the incorrect place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they count on the essential several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're paying to workers or otherwise that's an excellent question I always throw this back and say what is it what does not require to be included best and what does
it require to be thought of there's varying Bank details 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 have 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 right ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is permitting us to type of move on with that it also also to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely imperative that payroll and finance groups work more detailed together than ever um I'm constantly surprised when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from calculation I would say no so why do we as an industry 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 data collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to contribute to sort of the level of complexity there's increasingly more benefits being organ or being provided by organizations across the world so once again you're simply wanting to include more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real difficulties or genuine difficult type of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would definitely say that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding details into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that does not always 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 operate 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 an age 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 concurred and rightly as you stated payroll is the single most significant liability that any organization has from an expense viewpoint from an impact point of view on workers it is definitely important that it's done correctly and on time so what we suggest 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 damaging effect on individuals's wellness and many other factors if individuals aren't paid uh I've always been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an essential cycle we all become aware of it when it goes wrong everyone jumps up and down when it goes wrong however 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 likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the very first International Payments very first payroll payment solution is a terrific first step um offering an end-to-end payroll service for your employees globally once again I think is another substantial um process once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely key to success success of services and lowering the variety of tools platforms and checking 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 have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyway 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 everybody that's involved in those processes and also so think of sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and sort of try to get back to everybody so proceeding appearance why do companies select to main different checking account there are businesses out there doing precisely this for particular nations and I have actually operated in a service or lots of services doing exactly that I can state it does not constantly feel efficient and it does create more work I know we're not deliberately doing that we're not creating extra work for anybody where we don't need to and any person that's dealing with that procedure 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 think many reasons one is it's the requirement I believe individuals have got so used to we need a brand-new checking 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 believe it's simply been the requirement and the norm individuals have adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I think this is a procedure that requires looking at it needs altering however ultimately people are extremely stuck with what they're familiar
with ideal um modification is a challenging thing all of us do not like change um so I believe it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having maintaining numerous savings account but there's a huge amount of complexity goes with establishing a bank account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for specific people so the intricacy is substantial however I believe the sincere response is modification um people haven't had the ability to change or have not had always the understanding to actually make that change into alternate Solutions other than opening a checking account I believe you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to alter however we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century or two there is a lot to keep track of and this approach does posture a number of challenges um so Johnny might you inform us about those difficulties yeah naturally 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you deserve a corner office with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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