Find out more about Papaya Global Courses Sussex Downs College ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This offers us with a protected and reliable technique of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Worker Portal provides employees 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 phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits packages to global employees despite the variety of staff members in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source regional advantages providers in every nation, develop local accounts and have a minimum variety of workers.
The HR abilities supplied by Global HR incorporate numerous functions such as keeping an eye on vacation time, making sure compliance, assisting in the procedure of welcoming new workers and bidding goodbye to leaving ones, offering a safe online platform for storing employees' files, and supplying assistance for work permit treatments in case your staff members require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total employment expenses distributed per place, overall work costs per cycle and much more.
Globally, I have shown leadership and strategic know-how in directing massive populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for supervising payroll strategies, as discussed by Mark. My function includes managing and developing external partnerships, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As an international business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and decided to sort of make a real go at that over the last five or six years where I've type of had a variety of different roles on the company side and likewise on the supplier side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely dreary 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 looking at the difficulty years of managing Global payroll why business maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll likewise go over a wrap-up which must leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more typical and managing them becomes a growing number of complex Global organizations are aiming to discover Solutions and brand-new methods to improve processes especially from a payroll and cross-border payment perspective lots of organizations preserve separate bank account just for payroll while some have numerous accounts in different nations does it make good sense for companies to keep separate checking account sometimes in different countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies streamline the episode complex processes of
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for organizations operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a burdensome job into a tactical possession.
Handling payroll internationally is a difficult task due to various guidelines, compliance requirements, data security issues, and banking guidelines. The large variety of staff members and services contributes to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual procedures, data silos, and an absence of combination, resulting in inconsistencies and inefficiencies. Regardless of residing in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to supply insights and options to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in global payroll the less of a picture they see an absence of presence also encompasses payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global businesses have revealed 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 due to time reporting bad HCM data information entry mistakes badly communicated hires and terminations as well as absence management and system configurations and after that when you round all of it off and the information is shipped to the wrong place the typical expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they count on the necessary multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what does not need to be included right 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 amount of time there's payment abilities 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 any place you look ideal eventually building a knowledge base is definitely critical but 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 take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and technology is permitting us to sort of move forward with that it likewise too to add 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 teams work more detailed together than ever um I'm constantly astonished when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market 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 information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of crucial to contribute to sort of the level of intricacy there's more and more benefits being organ or being provided by organizations throughout the world so once again you're just looking to include a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real difficulties or genuine challenging type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of years 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 job there are teams feeding info into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and an age that you understand that we are working in today there is no reason we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any organization has from an expense viewpoint from an impact viewpoint on employees it is definitely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest harmful effect on individuals's well-being and many other aspects if people aren't paid uh I have actually constantly been surprised coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only see when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally also. Therefore, it is vital to ensure that tasks like Wi-Fi International and other vital matters are done properly. Utilizing the very first Worldwide Payments first payroll payment service is a great initial step towards offering a detailed payroll solution for workers worldwide. Standardization, worldwide procedures, and reducing the variety of tools, platforms, and bank accounts essential for worldwide payroll are crucial consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we know how how important 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 everyone that's involved in those procedures and also so think of sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task trying to clean all those up for sure oh absolutely 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 in fact see what was going on and sort of try to get back to everyone so carrying on look why do companies select to primary different savings account there are businesses out there doing exactly this for specific countries and I have actually operated in a company or numerous organizations doing precisely that I can say it doesn't always feel efficient and it does create more work I know we're not deliberately doing that we're not creating additional work for any person where we don't need to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many factors one is it's the requirement I believe people have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a range I believe this is a procedure that requires looking at it needs changing but eventually individuals are very stuck to what they're familiar
with right um change is a tough thing we all don't like modification um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having maintaining several bank accounts but there's a huge quantity of complexity chooses setting up a checking account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private people so the complexity is substantial but I think the truthful answer is modification um people haven't been able to alter or have not had always the understanding to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century or two there is a lot to track and this approach does present numerous difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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