Find out more about Papaya Global Payroll Administrator ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to managing payments. This provides us with a protected and trustworthy approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app enhances my payroll process, conserving me a significant quantity of time each month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
The Worker Portal supplies staff members with the ability to gain access to and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to global staff members regardless of the variety of workers in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source regional benefits companies in every nation, create local accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall employment costs dispersed per location, overall employment costs per cycle and far more.
Globally, I have shown leadership and tactical know-how in directing massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for managing payroll techniques, as discussed by Mark. My function involves managing and establishing external collaborations, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
company to make the time 100 list for the majority of influential business in the world we provide payroll payments and workforce management to all worker types in 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 introduce yourself obviously thank you good morning great afternoon great evening depending upon where you remain in the world it's beautiful to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've sort of had a variety of different functions on the company side and likewise on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply offer everybody another number 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 quite interesting and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely bleak and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll likewise go over a wrap-up and that needs to leave his time at the extremely 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 Worldwide workforces end up being a growing number of common and managing them becomes a growing number of complex Worldwide organizations are seeking to discover Solutions and brand-new ways to streamline procedures specifically from a payroll and cross-border payment perspective numerous organizations preserve different bank account just for payroll while some have several accounts in various countries does it make good sense for companies to preserve separate checking account often in different countries it does however just for payroll exists a better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business enhance the episode complex procedures of
making payroll payments accurately effectively firmly and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business properly forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of factors most significantly regulations compliance information security and banking guidelines then there are the large numbers they add additional complexity the global Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll model there's typically an overwhelming variety of different systems leading to lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or very very fundamental there's no genuine consistency framework we're living in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind each time I I believe
about it to offer 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 provides me sleepless nights and quite honestly the more a service spends on global payroll the less of a photo they see a lack of visibility also reaches payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of international businesses 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 due to time reporting poor HCM information data entry errors improperly interacted hires and terminations along with absence management and system configurations and after that when you round it all off and the data is delivered to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they count on the necessary numerous procedures 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 obstacles service face when they're paying to employees or otherwise that's an excellent question I always toss this back and state what is it what doesn't require to be consisted of ideal and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 consumer's own in-country account so there's intricacy any place you look best eventually developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to type of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work better together than ever um I'm constantly astonished when individuals say I have actually 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 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 often 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 people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to contribute to sort of the level of complexity there's a growing number of benefits being organ or being offered by businesses across the world so again you're simply seeking 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 but have you got any experience in kind of real challenges or genuine tough type of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of decades I would definitely state that the larger a business 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 groups feeding details into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as tough as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any organization has from an expense viewpoint from an effect point of view on workers it is definitely crucial that it's done correctly and on time so what we suggest 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 harmful effect on people's wellness and lots of other elements if people aren't paid uh I have actually always been impressed coming into this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle we all hear about it when it fails everyone jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe 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 things is done properly so leveraging the first International Payments very first payroll payment solution is a fantastic initial step um providing an end-to-end payroll solution for your workers internationally again I think is another substantial um procedure again lining up and guaranteeing you have standardization Worldwide processes all of those things are definitely crucial to success success of organizations and lowering the number of tools platforms and checking account they need for their International 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've never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I do not think any of us are actually 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 involved in those processes and also so picture sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need 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 everyone so carrying on appearance why do companies pick to primary different checking account there are companies out there doing exactly this for specific countries and I have actually worked in a service or many businesses doing precisely that I can say it doesn't constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not producing extra work for anyone where we do not have to and any person that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe 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 think people have actually got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I think this is a process that needs looking at it needs altering but ultimately individuals are extremely stuck to what they're familiar
with best um modification is a difficult thing all of us don't like change um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having preserving multiple savings account however there's a huge quantity of intricacy chooses establishing a checking account preserving it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private people so the intricacy is substantial but I think the sincere response is modification um people haven't been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think 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 real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could practically be determined to be the next Century or two there is a lot to track and this approach does posture a number of challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I just did you changed 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 Worldwide employees you should have a corner workplace with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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