Find out more about Papaya Global Courses Sheffield ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and reliable method of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, conserving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
The Staff member Portal offers employees with the capability to access and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to global employees regardless of the number of workers in the company. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source regional advantages suppliers in every country, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall employment expenses dispersed per place, total employment costs per cycle and much more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise customers and solutions along with serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a satisfaction to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of different roles on the supplier side and also on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually 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 raining here it's really very uninspiring and I want I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll likewise discuss a wrap-up which needs to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more typical and handling them ends up being a growing number of complicated Worldwide organizations are looking to find Solutions and brand-new methods to streamline procedures especially from a payroll and cross-border payment perspective many organizations maintain separate checking account just for payroll while some have numerous accounts in different nations does it make good sense for business to maintain separate bank accounts often in different countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business enhance the episode complex processes of
Guaranteeing accurate, effective, and timely payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how companies forecast payroll expenses to enhance working capital, and discover how streamlining worldwide payroll payments can transform them from a challenging task into a strategic asset.
Handling payroll worldwide is an overwhelming job due to numerous policies, compliance requirements, data security issues, and banking rules. The sheer number of workers and services adds to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems often result in manual procedures, data silos, and an absence of integration, resulting in inconsistencies and inefficiencies. Despite living in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to provide insights and solutions to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of a photo they see an absence of presence also encompasses payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of global services have actually expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors inadequately interacted hires and terminations along with lack management and system configurations and then when you round all of it off and the information is shipped to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they depend on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're making payments to workers or otherwise that's a great concern I constantly toss this back and say what is it what does not need to be included ideal and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like incredibly payments no if but some infants 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 believe there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to sort of progress with that it also also to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely vital that payroll and finance groups work more detailed together than ever um I'm constantly amazed when people say I've split payroll and payment um if you walk down the street and asked anybody 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 typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to add to type of the level of complexity there's a growing number of advantages being organ or being used by companies throughout the world so once again you're just wanting to add increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real difficulties or real difficult kind of pay uses to play to pay people I think yeah I suggest over the last well yeah a couple of years I would certainly state that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding info into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we require to develop extra handoffs in the processes that we operate in they just make them more timely they make them less effective 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 we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any company has from an expense viewpoint from an impact perspective on employees it is definitely vital that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest damaging impact on people's wellness and lots of other factors if individuals aren't paid uh I've always been astonished entering into this Market sort of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only see when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally too. For that reason, it is vital to ensure that tasks like Wi-Fi Global and other vital matters are done properly. Using the first Worldwide Payments very first payroll payment service is a terrific initial step towards supplying an extensive payroll option for employees worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and bank accounts necessary for global payroll are key consider attaining organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway we know how how essential 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 easy as possible for everybody that's associated with those processes and also so picture sorry I'm simply I was just gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and sort of shot to get back to everyone so carrying on look why do companies select to main separate bank accounts there are services out there doing exactly this for specific countries and I have actually worked in a company or many services doing exactly that I can state it does not always feel effective and it does create more work I know we're not purposely doing that we're not creating extra work for any person where we do not need to and anyone that's managing 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 think lots of factors one is it's the standard I believe individuals have got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I believe this is a procedure that needs taking a look at it needs changing but eventually individuals are extremely stuck with what they recognize
with best um change is a tough thing all of us don't like change um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having maintaining multiple savings account but there's a huge quantity of complexity opts for setting up a checking account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for private people so the complexity is big but I believe the honest response is change um individuals have not been able to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century approximately there is a lot to keep track of and this approach does position a number of challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just recently made a modification 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 gotten another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your achievements.
Papaya Global Aeo