Find out more about Papaya Global Payroll Uk ... 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 obtained a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and trusted approach of making payments to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app streamlines my payroll process, saving me a considerable quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Employee Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and work files. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive benefits plans to international staff members despite the number of staff members in the business. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local benefits suppliers in every nation, produce local accounts and have a minimum number of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total employment expenses distributed per place, total employment costs per cycle and far more.
Worldwide, I have actually shown leadership and strategic competence in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll strategies, as mentioned by Mark. My function includes handling and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for most prominent companies in the world we provide payroll payments and workforce management to all worker enters over 160 nations 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 good afternoon great evening depending on where you are in the world it's lovely 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 been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of various roles on the supplier side and likewise on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is 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 extremely really bleak and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why companies keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll likewise review a recap which should leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of common and handling them becomes increasingly more complicated Worldwide companies are looking to discover Solutions and new methods to streamline processes specifically from a payroll and cross-border payment perspective numerous companies maintain separate savings account just for payroll while some have several accounts in various nations does it make good sense for companies to maintain separate checking account in some cases in different nations it does however just for payroll exists a much better way what role do virtual accounts and digital wallets also called virtual wallets play in assisting international companies enhance the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex challenge for services running internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, find out how companies anticipate payroll costs to enhance working capital, and find how enhancing international payroll payments can change them from a burdensome task into a strategic property.
Managing payroll internationally is a daunting job due to various policies, compliance requirements, information security issues, and banking rules. The sheer variety of workers and companies contributes to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual processes, data silos, and an absence of combination, causing inconsistencies and ineffectiveness. In spite of residing in a period of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to supply insights and services to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that's another number that gives me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of a picture they see an absence of presence also reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of international companies 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 due to time reporting poor HCM data data entry errors poorly interacted hires and terminations along with absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they rely on the necessary multiple processes 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 difficulties organization face when they're paying to workers or otherwise that's a great concern I always toss this back and say what is it what doesn't require to be consisted of right and what does
it need to be thought about 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 abilities 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 complexity anywhere you look ideal eventually constructing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in 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 sort of move forward with that it also too to add to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance groups work better together than ever um I'm always surprised 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 frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on well-being and the compensation landscape is ending up being progressively complex. Services are continually presenting brand-new benefits and payment choices, which contributes to the total intricacy. Big corporations often divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my viewpoint, this does not need to hold true. In today's technically sophisticated period, there's no validation for keeping troublesome procedures. Payroll, the business's most significant expense, should be processed correctly and on time. Even minor delays can adversely affect employees' well-being and have far-reaching effects. For that reason, it's critical to prioritize precise and timely payments.
payroll group get um so I'm unsure anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise 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 essential that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment option is an excellent first step um offering an end-to-end payroll solution for your workers globally once again I believe is another substantial um procedure once again lining up and ensuring you have standardization Global processes all of those things are definitely essential to success success of organizations and reducing the number of tools platforms and checking account they require for their International payroll too couldn't agree with you more and on the the front in regards to 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 ten or whatever it might be with the with the the problems where things have not gone quite where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know how how crucial a role 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 think of sorry I'm just I was just gon na state picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating 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 attempt to check out them and really see what was going on and type of shot to return to everyone so carrying on look why do companies pick to main separate checking account there are companies out there doing exactly this for particular nations and I've operated in a company or lots of companies doing exactly that I can state it doesn't constantly feel effective and it does produce more work I understand we're not purposely doing that we're not producing extra work for any person where we don't need to and anybody that's dealing with 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 quantity that we are I believe lots of factors one is it's the requirement I think people 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 think it's simply been the requirement and the standard the people have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I believe this is a process that requires looking at it requires changing however ultimately people are really stuck with what they recognize
with ideal um modification is a difficult thing we all don't like change um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having maintaining multiple bank accounts but there's a big quantity of complexity goes with setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private people so the complexity is huge however I believe the truthful answer is change um individuals haven't been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to track and this method does present a number of challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a range right there is so
I simply 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 International staff members you deserve a corner workplace with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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