Find out more about Papaya Global Payroll Nanny ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and trustworthy method of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Worker Portal
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and employment documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive advantages plans to global employees regardless of the number of employees in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local advantages companies in every country, create regional accounts and have a minimum number of workers.
The HR capabilities offered by Worldwide HR encompass numerous functions such as monitoring vacation time, making sure compliance, facilitating the process of inviting new workers and bidding farewell to leaving ones, using a safe and secure online platform for storing employees' documents, and offering support for work permit treatments in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total employment expenses distributed per area, overall work costs per cycle and a lot more.
Globally, I have demonstrated leadership and tactical proficiency in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for managing payroll strategies, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and offering advisory services. In addition, 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 most influential business worldwide we provide payroll payments and workforce management to all worker types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good evening depending on where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've kind of had a variety of various roles on the company side and also on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely uninspiring and I want 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 difficulty years of handling International payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical property uh we'll also go over a wrap-up and that needs to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more typical and managing them ends up being a growing number of complex Worldwide organizations are seeking to discover Solutions and new methods to streamline procedures specifically from a payroll and cross-border payment standpoint lots of companies keep separate checking account just for payroll while some have several accounts in different countries does it make sense for business to preserve separate bank accounts sometimes in different countries it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies simplify the episode complex procedures of
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for services operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to optimize working capital, and discover how simplifying international payroll payments can change them from a difficult job into a tactical asset.
Managing payroll worldwide is an overwhelming job due to various guidelines, compliance requirements, data security concerns, and banking rules. The large variety of employees and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual processes, data silos, and an absence of integration, leading to inconsistencies and inadequacies. In spite of living in an age of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to offer insights and services to streamline and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations 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 a photo they see a lack of presence also extends to payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide companies have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes improperly interacted hires and terminations as well as absence management and system setups and after that when you round everything off and the data is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they rely on the needed multiple 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 service face when they're making payments to staff members or otherwise that's a great question I always throw this back and state what is it what does not need to be consisted of best and what does
it require 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 time frames 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 customer's own in-country account so there's complexity wherever you look ideal ultimately developing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble extremely 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 absolutely basic and technology is permitting us to kind of move forward with that it also also to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and finance teams work better together than ever um I'm constantly surprised when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so typically 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
The modern world places a high worth on well-being and the compensation landscape is ending up being increasingly elaborate. Services are continuously introducing new advantages and payment choices, which adds to the general intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can cause ineffectiveness and bottlenecks. In my opinion, this does not have to hold true. In today's technically innovative era, there's no validation for keeping troublesome procedures. Payroll, the company's greatest expense, need to be processed correctly and on time. Even small hold-ups can adversely affect employees' wellness and have far-reaching repercussions. For that reason, it's critical to focus on accurate and prompt payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe 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 stuff is definitely essential that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a fantastic first step um supplying an end-to-end payroll solution for your workers worldwide again I believe is another substantial um procedure once again aligning and guaranteeing you have standardization International processes all of those things are absolutely key to success success of services and decreasing the number of tools platforms and savings account they require for their Worldwide 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 expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I do not believe any of us are in fact 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 easy as possible for everybody that's associated with those procedures and also so envision sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions think of getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely 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 was the case um you 'd need days of the week to attempt to look through them and really see what was going on and sort of try to get back to everyone so moving on appearance why do business pick to primary separate bank accounts there are services out there doing exactly this for specific countries and I've operated in a company or numerous services doing exactly that I can state it doesn't always feel efficient and it does create more work I know we're not intentionally doing that we're not producing additional work for any person where we don't have to and anyone that's handling that procedure 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 think many reasons one is it's the standard I think individuals have got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I believe this is a process that requires looking at it requires altering however eventually people are extremely stuck to what they're familiar
with ideal um change is a difficult thing all of us do not like modification um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having preserving several savings account however there's a big quantity of complexity chooses establishing a bank account keeping it ensuring it can send out International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is huge however I believe the truthful response is modification um people have not been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to alter but we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could practically be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does present numerous obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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