Find out more about Papaya Global Crashes On Timesheet Entru ... 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 acquired a different Chief Financial Officer specifically devoted to managing payments. This provides us with a protected and trusted method of paying to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll procedure, saving me a significant amount of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Staff member Portal
Employees have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to international workers no matter the number of employees in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local benefits service providers in every nation, create regional accounts and have a minimum number of employees.
The HR abilities provided by Global HR encompass various functions such as keeping an eye on getaway time, making sure compliance, assisting in the process of welcoming brand-new workers and bidding goodbye to leaving ones, offering a protected online platform for keeping employees' files, and supplying support for work permit treatments in case your workers need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall employment expenses dispersed per area, total work costs per cycle and a lot more.
Globally, I have demonstrated leadership and strategic competence in guiding massive populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for managing payroll strategies, as discussed by Mark. My role includes managing and developing external partnerships, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As an international company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a pleasure to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I've type of had a range of various functions on the supplier side and also on the supplier side from a payroll point of view so actually anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everyone another couple 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 fascinating and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everybody comes from and I really 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 gloomy and I wish I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a strategic asset uh we'll likewise discuss a recap and that ought to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more typical and handling them becomes increasingly more intricate Worldwide organizations are seeking to find Solutions and new ways to streamline processes especially from a payroll and cross-border payment viewpoint lots of companies keep separate bank account just for payroll while some have several accounts in different nations does it make sense for business to keep different bank accounts in some cases in various nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies simplify the episode complex procedures of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one nation but when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of reasons most significantly regulations compliance data security and banking rules then there are the sheer numbers they add further intricacy the global Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the standard payroll design there's often a frustrating number of different systems leading to lengthy manual processes and silos the variety of Combinations could be non-existent in big amounts and or extremely extremely basic there's no genuine consistency framework we're living in a period of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a business spends on global payroll the less of an image they see a lack of presence likewise extends to payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide organizations have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes poorly interacted hires and terminations in addition to absence management and system setups and after that when you round everything off and the information is delivered to the wrong location the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they rely on the required numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business face when they're making payments to employees or otherwise that's a great concern I constantly throw this back and say what is it what doesn't need to be included ideal 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 country 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 have to pay from the consumer's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is definitely vital but everywhere you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link 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 innovation is enabling us to type of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work better together than ever um I'm constantly surprised when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market 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 people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more essential to add to type of the level of intricacy there's a growing number of advantages being organ or being used by services across the world so again you're just looking to add increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine difficulties or real challenging sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would certainly say that the larger a company 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 details into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we require to develop extra handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they do not make them what they need 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 needs to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from an expense viewpoint from an impact viewpoint on staff members it is definitely vital that it's done properly and on time so what we indicate 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 destructive result on individuals's well-being and many other aspects if people aren't paid uh I've constantly been surprised entering this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has actually been informed 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 employees or not um but ultimately payroll is such an essential cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment solution is a fantastic initial step um offering an end-to-end payroll service for your staff members worldwide again I think is another huge um process again aligning and ensuring you have standardization International processes all of those things are definitely key to success success of organizations and lowering the number of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten 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 believe any of us are actually doing that for for the thanks
anyway we know how how crucial 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 simple as possible for everybody that's associated with those processes and likewise so imagine sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task 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 browse them and actually see what was going on and kind of try to return to everyone so carrying on appearance why do companies choose to main different savings account there are organizations out there doing precisely this for specific nations and I have actually worked in a service or lots of companies doing exactly that I can state it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not producing additional work for any person where we do not need to and anybody that's dealing with 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 quantity that we are I believe many reasons one is it's the requirement I think individuals have got so used to we require a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a process that needs taking a look at it requires altering but ultimately people are really stuck with what they recognize
with best um change is a tough thing we all do not like modification um so I believe it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving several savings account but there's a substantial quantity of intricacy goes with setting up a bank account preserving it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is substantial however I believe the truthful answer is change um individuals haven't been able to alter or haven't had necessarily the knowledge 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 believe it is understanding you know and there is an aspect of resistance to alter however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or so there is a lot to monitor and this approach does posture a number of obstacles um so Johnny might you inform us about those obstacles yeah of course 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 Global staff members you are worthy of a corner office with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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