Find out more about Papaya Global Courses Peterborough ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and trustworthy approach of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Worker Website offers workers with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages plans to worldwide staff members no matter the variety of staff members in the company. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source local advantages companies in every country, develop regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work costs distributed per location, total work expenses per cycle and a lot more.
environments across the globe I provided leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business managing and structure external relationships supporting Business customers and services as well as serving as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for most influential business worldwide we offer payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent night depending upon where you remain in the world it's charming 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 been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually sort of had a range of various functions on the provider side and likewise on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I actually 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 drizzling here it's really really uninspiring and I want I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly useful for worldwide organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to enhance working capital, and discover how streamlining global payroll payments can transform them from a challenging job into a strategic possession.
Handling payroll internationally is a complicated job due to different policies, compliance requirements, data security concerns, and banking guidelines. The large number of employees and organizations contributes 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.
Standard payroll systems often lead to manual processes, data silos, and a lack of combination, leading to inconsistencies and inadequacies. In spite of living in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to provide insights and options to streamline and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more a company spends on global payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of international services have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is shipped to the incorrect place the typical cost of an international 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 don't run smoothly if they depend on the necessary several processes 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 obstacles company face when they're paying to workers or otherwise that's an excellent concern I always toss this back and state what is it what does not require to be consisted of right and what does
it need to be thought about 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 capabilities 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 intricacy anywhere you look ideal ultimately constructing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble super payments no if but 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 believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is allowing us to sort of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and finance teams work closer together than ever um I'm constantly impressed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more important to add to type of the level of intricacy there's increasingly more advantages being organ or being used by services across the world so again you're simply seeking to add more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine obstacles or real tough type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a couple of decades I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to develop extra handoffs while doing sos that we run in they just make them more prompt they make them less effective and they don't make them what they need to be in in an age of tech and an age that you understand that we are operating in today there is no reason why we are still making this as challenging as it needs to be concurred and appropriately as you said payroll is the single biggest liability that any business has from a cost point of view from an effect perspective on workers it is absolutely 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 need to be done right it has the most significant damaging impact on people's well-being and numerous other aspects if people aren't paid uh I have actually constantly been amazed entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only notice when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally too. For that reason, it is important to guarantee that tasks like Wi-Fi International and other important matters are done properly. Using the first Global Payments very first payroll payment option is a fantastic initial action towards providing an extensive payroll solution for workers worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and checking account required for worldwide payroll are essential factors in attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of complaints when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we know how how essential a role 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 simple as possible for everybody that's involved in those procedures and also so envision sorry I'm just I was just gon na state envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job attempting 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 need days of the week to try to look through them and in fact see what was going on and type of try to get back to everybody so proceeding look why do business pick to primary separate savings account there are organizations out there doing precisely this for particular countries and I have actually worked in a service or many organizations doing exactly that I can state it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not producing additional work for anybody where we don't have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the requirement I believe individuals have actually got so used to we need a new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a process that needs taking a look at it requires altering however eventually individuals are very stuck with what they're familiar
with right um change is a challenging thing all of us don't like change um so I think it's just type 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 obviously the advantages of having keeping multiple bank accounts however there's a substantial amount of complexity opts for establishing a checking account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the complexity is substantial but I believe the honest response is modification um people have not had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century approximately there is a lot to keep track of and this approach does present several obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a variety right there is so
I just did you switched our Business 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 International employees you should have a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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