Find out more about Papaya Global United Kingdom Jobs ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a protected and reliable method of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and contractors
The Employee Website offers workers with the capability to access and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to international employees regardless of the number of staff members in the business. The company can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local benefits suppliers in every country, develop local accounts and have a minimum number of workers.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, total work expenses dispersed per area, overall employment expenses per cycle and much more.
Worldwide, I have actually demonstrated leadership and strategic competence in assisting large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for supervising payroll techniques, as discussed by Mark. My role includes handling and developing external partnerships, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for many influential business in the world we offer payroll payments and workforce management to all worker key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon good night depending upon where you are in the world it's charming to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually type of had a variety of different functions on the provider side and likewise on the vendor side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join all of us 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 currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually 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 drizzling here it's extremely extremely uninspiring and I wish I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies maintain different
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping different savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset 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 policies compliance data security and banking guidelines then there are the large numbers they include additional complexity the worldwide Workforce is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll design there's typically a frustrating variety of different systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or very extremely fundamental there's no genuine consistency structure we're living in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more a business invests in worldwide payroll the less of an image they see a lack of presence also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors improperly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the information is shipped to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they depend 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 company face when they're making payments to employees or otherwise that's a great concern I always throw this back and say what is it what doesn't require to be included best and what does
it need to be considered there's varying Bank information 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 have to pay from the consumer's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is definitely critical however all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to kind of move on with that it also too to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance teams work better together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you stroll down the street and asked anybody 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 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 data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on wellness and the settlement landscape is becoming increasingly elaborate. Businesses are constantly presenting brand-new advantages and payment choices, which contributes to the total complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can result in inefficiencies and traffic jams. In my opinion, this does not have to hold true. In today's technically sophisticated age, there's no justification for keeping cumbersome treatments. Payroll, the business's most significant expense, need to be processed correctly and on time. Even slight hold-ups can negatively impact staff members' well-being and have far-reaching consequences. For that reason, it's critical to focus on accurate and timely payments.
payroll group get um so I'm not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such a crucial cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment option is a terrific initial step um providing an end-to-end payroll service for your employees globally again I believe is another big um process once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of companies and reducing the number of tools platforms and checking account they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyhow we know how how essential a function 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 associated with those processes and likewise so envision sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions picture getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and actually see what was going on and sort of try to return to everybody so proceeding appearance why do business select to main separate bank accounts there are businesses out there doing exactly this for particular countries and I have actually operated in a company or numerous organizations doing exactly that I can say it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not creating extra work for any person where we do not have to and anyone that's dealing with 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 amount that we are I believe lots of reasons one is it's the requirement I think individuals have got so used to we require a new savings account we open an entity and appropriately so you need it for payroll functions 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 individuals have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I think this is a procedure that requires taking a look at it requires changing however ultimately individuals are extremely stuck to what they recognize
with ideal um change is a challenging thing we all don't 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 lot of track of stuff um I understand certainly the benefits of having maintaining numerous checking account but there's a big amount of complexity opts for setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for specific people so the intricacy is big however I think the truthful answer is change um people have not had the ability to alter or have not had always the understanding to really make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter but we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what could nearly be identified to be the next Century or two there is a lot to track and this method does pose numerous challenges um so Johnny might you inform us about those challenges yeah naturally 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 International workers you deserve a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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