Find out more about Papaya Global Courses Videos ... 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 obtained a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and dependable approach of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Worker Website offers workers with the ability to access and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global assists business provide competitive advantages packages to worldwide staff members regardless of the number of employees in the company. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source regional advantages providers in every country, develop local accounts and have a minimum number of staff members.
The HR abilities supplied by Worldwide HR encompass numerous functions such as monitoring holiday time, ensuring compliance, assisting in the procedure of inviting new staff members and bidding goodbye to departing ones, offering a safe and secure online platform for saving employees' documents, and offering assistance for work allow treatments in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total work expenses distributed per area, overall work costs per cycle and much more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business managing and building external relationships supporting Business customers and solutions as well as functioning as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed 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 important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past 7 years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually type of had a range of various roles on the supplier side and also on the supplier side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely very uninspiring and I want I was elsewhere 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 obstacle years of managing International payroll why companies keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll also review a wrap-up which needs to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of typical and managing them ends up being more and more complex International companies are aiming to find Solutions and brand-new methods to simplify processes specifically from a payroll and cross-border payment perspective lots of companies maintain different bank account just for payroll while some have several accounts in various countries does it make sense for companies to preserve different savings account sometimes in various nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international business simplify the episode complex procedures of
Making sure precise, efficient, and prompt payroll payments is a complex challenge for services running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll expenses to optimize working capital, and discover how enhancing worldwide payroll payments can change them from a troublesome task into a tactical property.
Handling payroll internationally is a daunting task due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The large number of employees and businesses contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of combination, causing disparities and ineffectiveness. Regardless of living in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to supply insights and solutions to streamline and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more a company invests in global payroll the less of a picture they see a lack of exposure also extends to payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide companies have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors inadequately interacted hires and terminations in addition to lack management and system setups and then when you round everything off and the data is delivered to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they rely on the required several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're paying to employees or otherwise that's a great concern I always throw this back and state what is it what does not require to be included right and what does
it need to be thought of there's differing 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity wherever you look best ultimately developing a knowledge base is absolutely crucial but 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 take a look at the kind 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 absolutely basic and technology is enabling us to sort of move forward with that it likewise also to add to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely important that payroll and financing teams work closer together than ever um I'm constantly astonished when people say I have actually divided 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 split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to add to type of the level of complexity there's increasingly more benefits being organ or being offered by businesses across the world so once again you're simply looking to add a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real challenges or real challenging sort of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of years I would definitely state that the larger a service 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 but you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason that we are still making this as hard as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from an expense viewpoint from an impact point of view on workers it is absolutely vital 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 greatest harmful impact on individuals's wellness and many other factors if people aren't paid uh I have actually always been impressed entering this Market kind of the last five to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just notice when things go wrong. However, when things go right, it's seen as simply a regular task. This is how it's viewed externally too. For that reason, it is essential to ensure that tasks like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the very first International Payments very first payroll payment option is a great initial step towards providing a detailed payroll service for staff members worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and checking account necessary for global payroll are key factors in achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyway we understand 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 everybody that's associated with those procedures and likewise so envision sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and actually see what was going on and type of shot to return to everyone so moving on appearance why do companies choose to main separate bank accounts there are organizations out there doing precisely this for specific nations and I have actually operated in a business or numerous companies doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for anybody where we don't need to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think numerous reasons one is it's the requirement I think people have actually got so used to we need a new checking account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I believe this is a procedure that requires looking at it needs changing however ultimately individuals are really stuck to what they're familiar
with right um change is a hard thing we all don't like change um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having maintaining numerous checking account however there's a big amount of complexity opts for setting up a bank account maintaining it ensuring it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is substantial but I think the honest answer is modification um people haven't had the ability to change or haven't had always the understanding to actually make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century or two there is a lot to keep an eye on and this method does present a number of challenges um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I just did you changed 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 Worldwide employees you are worthy of a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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