Find out more about Papaya Global Payroll Dates ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a secure and reputable technique of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Worker Portal provides staff members with the capability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global assists companies use competitive benefits bundles to international employees regardless of the number of employees in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every country, develop regional accounts and have a minimum variety of staff members.
The HR abilities offered by International HR encompass various functions such as monitoring trip time, making sure compliance, helping with the process of inviting new staff members and bidding farewell to departing ones, offering a protected online platform for storing workers' files, and supplying assistance for work permit procedures in case your staff members require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total employment costs distributed per place, overall work expenses per cycle and far more.
environments around the world I provided management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business managing and building external relationships supporting Business clients and solutions in addition to functioning as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on providing payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's an enjoyment to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually sort of had a variety of various functions on the company side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type 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 raining here it's very really bleak and I want I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also discuss a recap and that needs to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of typical and managing them ends up being a growing number of complicated Worldwide organizations are wanting to find Solutions and new methods to streamline procedures especially from a payroll and cross-border payment standpoint many companies maintain different bank account just for payroll while some have multiple accounts in various countries does it make good sense for business to keep separate checking account often in various nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational business enhance the episode complex processes of
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in enough in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of factors most importantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include additional complexity the global Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the standard payroll design there's typically an overwhelming variety of different systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in big quantities and or extremely very basic there's no genuine consistency structure we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more an organization invests in global payroll the less of a photo they see a lack of exposure also encompasses payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide companies have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors inadequately interacted hires and terminations as well as absence management and system setups and then when you round everything off and the data is shipped to the incorrect place the average cost of an international information 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 do not run efficiently if they rely on the essential numerous 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 difficulties organization face when they're paying to staff members or otherwise that's a great question I constantly throw this back and state what is it what doesn't need to be consisted of best and what does
it need to be thought of there's varying 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look best eventually building a knowledge base is definitely important but all over you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 essential and innovation is allowing us to type of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely vital that payroll and finance groups work more detailed together than ever um I'm constantly surprised when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to add to kind of the level of complexity there's a growing number of benefits being organ or being provided by businesses across the world so once again you're simply looking to include more and 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 difficult kind of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of decades I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding details into the next function as it were that's really managing 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 know long gone are the times where we need to produce additional handoffs in the processes that we run in they simply make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and an age that you know that we are working in today there is no reason we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single greatest liability that any company has from an expense perspective from an impact point of view 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 have to be done right it has the most significant detrimental effect on people's well-being and numerous other factors if individuals aren't paid uh I have actually constantly been astonished coming into this Market kind of the last five to ten years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just discover when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's viewed externally as well. Therefore, it is vital to guarantee that tasks like Wi-Fi Global and other important matters are done properly. Utilizing the first Worldwide Payments first payroll payment service is a fantastic preliminary action towards supplying an extensive payroll service for workers worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and savings account needed for international payroll are essential consider accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as planned. Ultimately, we don't do it for the thankfulness.
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 easy as possible for everyone that's associated with those processes and likewise so imagine sorry I'm just I was just gon na state imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task attempting to clean up 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 try to browse them and actually see what was going on and sort of shot to return to everybody so proceeding appearance why do companies pick to main different bank accounts there are companies out there doing precisely this for particular countries and I have actually worked in a service or lots of organizations doing precisely that I can say it doesn't constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not developing additional work for anybody where we do not need to and anybody 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 amount that we are I believe lots of factors one is it's the requirement I think individuals have actually got so used to we need a new bank account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs looking at it needs altering but eventually people are really stuck with what they're familiar
with ideal um change is a challenging thing we all don't like modification um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having preserving multiple savings account but there's a substantial amount of intricacy opts for establishing a checking account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for individual people so the complexity is big but I think the honest answer is change um individuals haven't had the ability to change or haven't had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to change but we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century or so there is a lot to keep an eye on and this approach does posture numerous challenges um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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