Find out more about Compare Payroll Services Of Trinet Papaya Global And Paychex ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and reliable method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Worker Website supplies employees with the ability to access and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps companies provide competitive advantages bundles to global staff members no matter the variety of staff members in the company. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local benefits suppliers in every nation, create local accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall employment expenses distributed per place, total work expenses per cycle and far more.
Globally, I have actually demonstrated leadership and strategic expertise in guiding large-scale populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for overseeing payroll strategies, as discussed by Mark. My role involves managing and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for a lot of prominent companies worldwide we supply payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon great evening depending upon where you are in the world it's charming to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of different functions on the supplier side and likewise on the vendor side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really extremely uninspiring and I wish I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we'll likewise discuss 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 suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more typical and managing them ends up being a growing number of complicated Global companies are wanting to discover Solutions and brand-new methods to simplify processes specifically from a payroll and cross-border payment standpoint lots of companies maintain separate savings account just for payroll while some have several accounts in various countries does it make good sense for business to keep separate savings account often in various nations it does but just for payroll is there a better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies streamline the episode complex procedures of
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of reasons most significantly regulations compliance information security and banking guidelines then there are the sheer numbers they include additional intricacy the global Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the standard payroll design there's often a frustrating variety of different systems leading to time-consuming manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely very basic there's no genuine consistency framework we're residing in an age 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 an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more a service spends on global payroll the less of a picture they see an absence of exposure also encompasses payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of global businesses have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors poorly interacted hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is shipped to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they count on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's a great question I always toss this back and state what is it what doesn't need to be included ideal and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities 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 customer's own in-country account so there's intricacy anywhere you look right eventually constructing a knowledge base is absolutely vital however all over you look with payroll payment they resemble super payments no if however some infants 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is allowing us to sort of move forward with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely crucial that payroll and finance groups work better together than ever um I'm constantly astonished when individuals say 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of crucial to add to sort of the level of intricacy there's a growing number of benefits being organ or being provided by services across the world so once again you're simply wanting to add a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine challenges or real challenging kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding information into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to develop additional handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and an era that you understand that we are working in today there is no reason why we are still making this as tough as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from an expense perspective from an effect point of view on workers it is definitely vital that it's done correctly and on time so what we mean 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 individuals's wellness and numerous other factors if people aren't paid uh I've constantly been amazed coming into this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done properly so leveraging the first International Payments first payroll payment service is a great first step um providing an end-to-end payroll service for your workers worldwide once again I think is another substantial um procedure once again lining up and guaranteeing you have standardization International processes all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and bank accounts they need for their Global payroll too could not 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 thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyway we know how how essential 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 simple as possible for everyone that's involved in those procedures and likewise so picture sorry I'm just I was just gon na say think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and in fact see what was going on and kind of try to return to everyone so proceeding appearance why do business choose to primary different savings account there are organizations out there doing precisely this for specific countries and I've worked in a business or lots of companies doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not intentionally doing that we're not developing extra work for anyone where we do not need to and any person that's dealing with 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 quantity that we are I believe lots of reasons one is it's the standard I believe individuals have got so used to we require a new savings account we open an entity and rightly so you need it for payroll purposes 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 actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a process that requires looking at it needs altering however eventually individuals are really stuck to what they're familiar
with ideal um modification is a challenging thing we all don't like change um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having preserving several bank accounts however there's a huge quantity of complexity goes with establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is big however I think the sincere answer is modification um individuals haven't been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to track and this technique does present several difficulties um so Johnny could you tell us about those difficulties yeah of course 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you should have a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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