Find out more about Papaya Global Courses West Lothian ... 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 particularly dedicated to managing payments. This supplies us with a safe and secure and trustworthy technique of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Staff member Website supplies workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits plans to global employees despite the number of staff members in the company. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source regional benefits service providers in every nation, develop local accounts and have a minimum number of workers.
The HR abilities supplied by Global HR include numerous functions such as keeping track of holiday time, guaranteeing compliance, helping with the procedure of inviting brand-new workers and bidding farewell to leaving ones, offering a safe online platform for saving workers' files, and providing support for work allow treatments in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall work costs distributed per place, overall employment costs per cycle and much more.
Internationally, I have actually demonstrated management and strategic competence in directing large-scale populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for managing payroll methods, as pointed out by Mark. My function includes handling and establishing external collaborations, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a pleasure to satisfy 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 industry, I have actually focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've sort of had a range of various roles on the provider side and also on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everybody another couple of uh well one of 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 fascinating 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 everyone 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 raining here it's really really gloomy and I wish I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll likewise review a recap which needs to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of common and handling them ends up being increasingly more complex Global organizations are seeking to discover Solutions and new methods to improve procedures particularly from a payroll and cross-border payment perspective many companies keep different bank account just for payroll while some have numerous accounts in different nations does it make sense for companies to keep different checking account often in different nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets also called virtual wallets play in helping international business simplify the episode complex procedures of
Guaranteeing precise, efficient, and prompt payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to enhance working capital, and discover how streamlining global payroll payments can transform them from a burdensome task into a strategic possession.
Managing payroll internationally is a difficult task due to different regulations, compliance requirements, information security issues, and banking guidelines. The sheer variety of staff members and companies contributes to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and an absence of integration, resulting in disparities and ineffectiveness. Regardless of residing in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to provide insights and services to simplify and enhance worldwide payroll payments.
about it to give 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 offers me sleepless nights and quite honestly the more a service spends on international payroll the less of a picture they see an absence of exposure also extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide companies have revealed that they do not 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 mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the data is shipped to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they count on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges service face when they're paying to workers or otherwise that's an excellent concern I constantly throw this back and state what is it what does not require to be included right and what does
it need 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 timespan there's payment capabilities 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 customer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is absolutely important but everywhere you look with payroll payment they are like super 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 definitely essential and innovation is permitting us to type of progress with that it also also to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely necessary that payroll and finance teams work closer together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more important to add to sort of the level of intricacy there's increasingly more benefits being organ or being used by organizations throughout the world so again you're just aiming to add increasingly more payments to this currently complex landscape so if you kind 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 obstacles or genuine tough sort of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding information into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to create additional handoffs in the processes that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason why we are still making this as challenging as it requires to be agreed and rightly as you said payroll is the single greatest liability that any service has from a cost viewpoint from an effect point of view on staff members it is definitely vital that it's done properly 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 biggest detrimental effect on people's well-being and many other elements if individuals aren't paid uh I have actually always been surprised entering this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure 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 eventually payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this stuff is done correctly so leveraging the first Global Payments first payroll payment service is a terrific initial step um providing an end-to-end payroll option for your employees worldwide again I think is another substantial um process again aligning and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of companies and lowering the variety of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of 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 haven't gone quite where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
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 simple as possible for everyone that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions envision getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job 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 check out them and really see what was going on and sort of shot to get back to everybody so moving on appearance why do companies pick to main separate savings account there are businesses out there doing exactly this for specific countries and I have actually operated in an organization or lots of organizations doing precisely that I can say it does not 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 do not need to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I believe people have got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually adopted 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 many other ways um to to kind of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs changing but ultimately individuals are very stuck with what they're familiar
with ideal um modification is a hard thing all of us don't like change um so I believe it's simply kind 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 certainly the benefits of having preserving multiple savings account but there's a big amount of complexity chooses establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is huge but I believe the sincere answer is modification um people have not had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change however we've always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might almost be determined to be the next Century or so there is a lot to keep an eye on and this approach does present a number of difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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