Find out more about 401K Payroll Integration Papaya Global ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and reliable approach of making payments to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, saving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
The Employee Portal offers staff members with the ability to access and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages packages to international employees no matter the number of workers in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source regional benefits providers in every nation, develop regional accounts and have a minimum number of workers.
The HR abilities provided by International HR encompass different functions such as keeping track of getaway time, ensuring compliance, assisting in the procedure of inviting new employees and bidding farewell to leaving ones, using a safe and secure online platform for storing workers' files, and providing support for work permit treatments in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall work costs distributed per area, overall employment expenses per cycle and a lot more.
Globally, I have demonstrated management and strategic know-how in guiding large-scale populations of over 100,000 employees across 170 nations. Currently, I are accountable for overseeing payroll methods, as pointed out by Mark. My function involves managing and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We focus 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 area. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually sort of had a variety of various roles on the supplier side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it remains 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 very very bleak and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a strategic possession uh we'll likewise go over a wrap-up and that should leave his time at the extremely very 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 increasingly more common and managing them ends up being more and more intricate International organizations are aiming to find Solutions and new ways to streamline procedures specifically from a payroll and cross-border payment standpoint many organizations maintain separate savings account just for payroll while some have numerous accounts in various nations does it make good sense for companies to keep separate bank accounts often in various nations it does but just for payroll exists a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business simplify the episode complex processes of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in enough in one country but when you're doing it globally it's next level and Beyond it ends up being complex for a variety of factors most significantly policies compliance information security and banking rules then there are the large numbers they include more complexity the global Labor force is presently three and a half billion individuals by 2030 it's approximated 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 all over the world in the conventional payroll design there's typically an overwhelming variety of different systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or extremely really standard there's no genuine consistency framework we're residing in an era of tech but payroll has actually 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 simply blows my mind whenever I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of a picture they see a lack of presence also reaches payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of international companies have actually expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors improperly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is delivered to the incorrect place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they rely on the needed several 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 obstacles organization face when they're paying to staff members or otherwise that's a good question I always throw this back and say what is it what does not require to be included best and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment capabilities 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 any place you look ideal eventually building a knowledge base is definitely important but all over you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is permitting us to type of move forward with that it also too to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing teams work closer together than ever um I'm always surprised when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't 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 typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to contribute to type of the level of complexity there's a growing number of benefits being organ or being used by businesses across the world so once again you're just seeking to include increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real difficulties or genuine difficult kind of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding information into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we require to create extra handoffs in the processes that we operate in they just make them more timely they make them less efficient and they do not make them what they require to be in in an age 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 needs to be agreed and rightly as you said payroll is the single greatest liability that any service has from an expense perspective from an effect viewpoint on workers it is definitely vital that it's done correctly and on time so what we imply 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 detrimental impact on people's wellness and many other elements if people aren't paid uh I have actually constantly been impressed coming into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anyone on this kind of webinar has actually been informed 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 employees or not um but ultimately payroll is such a crucial cycle all of us 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 exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this things is done correctly so leveraging the first Global Payments first payroll payment service is a great initial step um providing an end-to-end payroll option for your workers globally again I believe is another big um process again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely key to success success of businesses and lowering the variety of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how important 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 simple as possible for everyone that's involved in those procedures and also so imagine sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and kind of shot to return to everybody so proceeding look why do business pick to primary separate bank accounts there are businesses out there doing precisely this for specific countries and I have actually worked in a business or lots of organizations doing exactly that I can say it doesn't always feel effective and it does create more work I understand we're not intentionally doing that we're not producing additional work for anybody where we do not have to and any person that's dealing with that process 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 think lots of factors one is it's the standard I think individuals have actually got so used to we need a brand-new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I believe this is a process that requires looking at it requires altering but ultimately people are very stuck to what they recognize
with right um change is a challenging thing all of us do not like change um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having maintaining multiple savings account however there's a big quantity of intricacy chooses setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the complexity is substantial however I believe the truthful answer is change 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 checking 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 alter however we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century or two there is a lot to monitor and this method does present several obstacles um so Johnny might you tell us about those difficulties yeah naturally so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you deserve a corner workplace with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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