Find out more about Papaya Global Switzerland ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a protected and trustworthy method of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and specialists
Staff member Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work files. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to international employees regardless of the number of workers in the business. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source regional benefits suppliers in every country, develop regional accounts and have a minimum variety of staff members.
The HR capabilities provided by Global HR include numerous functions such as monitoring trip time, making sure compliance, helping with the process of inviting new employees and bidding goodbye to leaving ones, offering a safe and secure online platform for keeping employees' files, and providing support for work allow treatments in case your staff members require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total employment expenses dispersed per place, total employment expenses per cycle and far more.
Internationally, I have actually shown management and tactical expertise in guiding massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for managing payroll techniques, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to fulfill you and thank you for your important time. As Ian discussed, 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 solutions for the past 7 years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually type of had a range of various roles on the supplier side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely very uninspiring and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll also go over a recap which needs to leave his time at the very extremely 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 International labor forces become increasingly more typical and handling them becomes increasingly more complex Global organizations are seeking to find Solutions and brand-new methods to enhance procedures particularly from a payroll and cross-border payment standpoint numerous organizations keep separate savings account just for payroll while some have multiple accounts in various countries does it make sense for companies to maintain different checking account in some cases in various countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies improve the episode complex processes of
making payroll payments precisely efficiently safely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most importantly regulations compliance data security and banking guidelines then there are the large numbers they add more complexity the global Labor force is presently three 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 presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll model there's frequently a frustrating number of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in big quantities and or really very fundamental there's no real consistency framework we're residing in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a service spends on worldwide payroll the less of an image they see a lack of presence likewise encompasses payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide companies have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations along with lack management and system configurations and then when you round everything off and the information is delivered to the wrong location the typical cost of a worldwide data 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 do not run efficiently if they depend on the necessary multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're paying to employees or otherwise that's a good concern I constantly toss this back and say what is it what doesn't need to be consisted of right and what does
it need to be thought about there's varying Bank information 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 need to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is definitely crucial however all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 fundamental and technology is permitting us to kind of progress with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and financing groups work better together than ever um I'm always astonished when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on well-being and the payment landscape is ending up being progressively detailed. Organizations are constantly presenting new benefits and payment choices, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different teams, which can cause ineffectiveness and traffic jams. In my viewpoint, this does not have to hold true. In today's highly innovative period, there's no validation for preserving cumbersome treatments. Payroll, the business's most significant cost, should be processed properly and on time. Even minor delays can adversely impact employees' well-being and have significant consequences. For that reason, it's vital to prioritize precise and prompt payments.
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just observe when things fail. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's perceived externally as well. For that reason, it is vital to make sure that tasks like Wi-Fi International and other crucial matters are done correctly. Using the first Worldwide Payments first payroll payment service is a terrific preliminary action towards supplying a thorough payroll option for workers worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and savings account required for international payroll are crucial factors in accomplishing business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyway we know 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 likewise so picture sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and type of shot to return to everybody so moving on look why do companies pick to main separate checking account there are organizations out there doing precisely this for particular countries and I have actually worked in a business or many companies doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not deliberately doing that we're not producing additional work for any person where we don't need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think 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 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 just been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I think this is a process that needs looking at it needs changing but eventually people are really stuck to what they recognize
with right um modification is a tough thing we all don't like change um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having maintaining several savings account however there's a substantial quantity of intricacy opts for setting up a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is big however I believe the honest response is modification um people haven't had the ability to alter or have not 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 believe it is knowledge you know and there is a component of resistance to change however we've 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 know what might almost be determined to be the next Century or two there is a lot to keep track of and this technique does posture numerous challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I simply did you switched 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 deserve a corner workplace with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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