Find out more about Papaya Global Ownership ... 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 particularly dedicated to handling payments. This supplies us with a safe and reliable technique of making payments to our 10,000 staff members worldwide.}
The advanced global payroll management app streamlines my payroll process, saving me a significant amount of time monthly. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
Worker Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to worldwide employees despite the number of workers in the company. The company can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source regional benefits service providers in every nation, create regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, total employment expenses dispersed per location, total employment expenses per cycle and a lot more.
Worldwide, I have shown leadership and tactical knowledge in directing large-scale populations of over 100,000 staff members across 170 countries. Presently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role involves handling and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for the majority of prominent companies on the planet we provide payroll payments and labor force management to all employee enters over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon great night depending on where you are in the world it's lovely to meet you and thank you very much for your time as Ian stated 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 working on the payroll and payment sector for over seven years um I was amazed by the intricacy the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've type of had a range of various roles on the supplier side and also on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of 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 intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very really dreary and I wish I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies keep separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll likewise review a recap which should 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 increasingly more typical and managing them ends up being a growing number of complicated Global organizations are aiming to discover Solutions and new ways to simplify procedures especially from a payroll and cross-border payment perspective numerous organizations keep different savings account just for payroll while some have multiple accounts in various countries does it make good sense for business to maintain different bank accounts often in different countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business simplify the episode complex processes of
Ensuring precise, effective, and timely payroll payments is a complex obstacle for services operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, discover how business anticipate payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can change them from a troublesome job into a strategic possession.
Handling payroll internationally is a daunting job due to numerous policies, compliance requirements, data security concerns, and banking rules. The sheer variety of staff members and organizations contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems often result in manual procedures, data silos, and an absence of integration, resulting in inconsistencies and inadequacies. In spite of living in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to provide insights and options to streamline and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that gives me sleep deprived nights and rather frankly the more a company invests in worldwide payroll the less of an image they see a lack of exposure also reaches payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal almost half of global organizations have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes improperly communicated hires and terminations as well as lack management and system setups and then when you round it all off and the information is delivered to the wrong location the average cost 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 worldwide payroll and payments don't run efficiently if they rely on the necessary several procedures systems and partners it is simply 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 making payments to employees or otherwise that's a good concern I always throw this back and state what is it what does not require to be included ideal and what does
it need to be thought about 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 client's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is absolutely critical but all over 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 kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to kind of progress with that it likewise as well to add to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely crucial that payroll and financing groups work better together than ever um I'm always impressed when individuals say I have actually split 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 calculation 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 eventually 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 however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more essential to contribute to type of the level of intricacy there's increasingly more benefits being organ or being provided by companies throughout the world so again you're just wanting to include increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine challenges or real difficult kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of years I would definitely state that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding info into the next function as it were that's really managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and a period 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 stated payroll is the single biggest liability that any service has from an expense perspective from an impact point of view on workers it is absolutely vital that it's done correctly 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 most significant damaging effect on individuals's well-being and numerous other aspects if people aren't paid uh I have actually constantly been astonished entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm not sure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but eventually payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment service is a great primary step um supplying an end-to-end payroll solution for your staff members internationally again I believe is another huge um procedure once again lining up and guaranteeing you have standardization International procedures all of those things are absolutely essential to success success of organizations and reducing the number of tools platforms and bank accounts they require for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand 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 procedures and also so picture sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and type of try to get back to everybody so proceeding appearance why do business choose to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I have actually worked in an organization or many businesses doing exactly that I can say it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not producing additional work for any person where we don't have to and any person that's managing that process 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 think numerous factors one is it's the requirement I think people have got so utilized to we need a brand-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 requirement and the norm the people have embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing however ultimately people are very stuck to what they're familiar
with ideal um modification is a tough thing all of us don't like modification um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having maintaining several savings account but there's a huge quantity of complexity opts for establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is substantial however I believe the honest answer is change um people have not had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you have actually 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 constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or two there is a lot to monitor and this technique does pose several challenges um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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