Find out more about Papaya Global Adding Person To Payroll ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and reputable approach of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Worker Website provides workers with the capability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global assists business offer competitive benefits bundles to worldwide workers regardless of the number of employees in the company. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every country, create regional accounts and have a minimum variety of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total employment costs dispersed per place, overall employment costs per cycle and far more.
Globally, I have shown management and tactical competence in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll methods, as discussed by Mark. My function involves managing and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for the majority of influential business in the world we offer payroll payments and workforce management to all employee enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon excellent evening depending upon where you are in the world it's beautiful to meet 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 have actually been in the payments industry for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've type of had a range of various roles on the provider side and also on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I actually 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 drizzling here it's extremely really dreary and I want I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies preserve different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in enough in one nation however when you're doing it globally it's next level and Beyond it becomes complicated for a variety of factors most significantly guidelines compliance information security and banking rules then there are the sheer numbers they add more intricacy the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the standard payroll design there's typically a frustrating number of different systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big quantities and or very really standard there's no real consistency framework we're living in a period of tech however 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 which just blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more a company spends on global payroll the less of an image they see a lack of exposure also extends to payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes badly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is shipped to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they count on the required numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're paying to staff members or otherwise that's an excellent question I constantly toss 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity anywhere you look best ultimately building a knowledge base is absolutely vital but all over 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 type 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 basic and innovation is permitting us to sort of move on with that it likewise also to add to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely important that payroll and financing teams work more detailed together than ever um I'm constantly impressed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process 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 third parties so with the
world we reside in and well-being being increasingly more essential to contribute to type of the level of complexity there's increasingly more benefits being organ or being provided by businesses across the world so once again you're just wanting to include more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine obstacles or real difficult sort of pay uses to play to pay people I think yeah I mean over the last well yeah a number of years I would definitely say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding info into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we operate in they simply make them more prompt 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 understand that we are operating in today there is no reason that we are still making this as hard as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any service has from a cost point of view from an impact point of view on employees it is absolutely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful effect on individuals's well-being and lots of other elements if individuals aren't paid uh I have actually always been amazed entering into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle we all hear about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think 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 things is definitely crucial that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment option is a great initial step um offering an end-to-end payroll service for your workers internationally again I think is another substantial um procedure once again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of services and reducing the variety of tools platforms and savings account they need for their Global 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 had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand how how important 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 also so envision sorry I'm just I was just gon na state picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions imagine getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and in fact see what was going on and sort of shot to return to everyone so moving on look why do companies pick to main separate bank accounts there are businesses out there doing precisely this for particular countries and I've worked in a service or lots of businesses doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating extra work for anyone where we do not have to and anybody that's managing 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 quantity that we are I think numerous reasons one is it's the standard I think individuals have got so used to we need a new savings account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually 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 methods um to to sort of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires changing however eventually people are really stuck with what they're familiar
with right um modification is a challenging thing we all do not like modification um so I think it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having maintaining several savings account but there's a big amount of intricacy goes with establishing a checking account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for individual people so the complexity is big however I believe the sincere response is change um individuals have not been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to monitor and this approach does pose a number of challenges um so Johnny might you tell us about those difficulties yeah obviously so there's a variety 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 staff members you should have a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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