Find out more about Papaya Global Bonus Payroll Vs Off Cycle Payroll For Reimbursement ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly devoted to managing payments. This provides us with a protected and trusted method of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app streamlines my payroll procedure, conserving me a considerable quantity of time each month. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
The Employee Portal supplies employees with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages packages to worldwide workers no matter the variety of employees in the company. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every country, create regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work expenses dispersed per place, total employment expenses per cycle and a lot more.
Worldwide, I have actually demonstrated leadership and tactical proficiency in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My role includes managing and developing external partnerships, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for most prominent business on the planet we supply payroll payments and labor force management to all worker types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon good night 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've been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually sort of had a variety of various functions on the supplier side and also on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just 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 type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I actually 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 really extremely bleak and I wish I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies maintain separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic property uh we'll likewise go over a recap which ought to leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of common and handling them ends up being a growing number of intricate Worldwide organizations are aiming to find Solutions and new ways to simplify processes especially from a payroll and cross-border payment viewpoint lots of organizations preserve separate bank account just for payroll while some have several accounts in various countries does it make sense for companies to preserve separate checking account in some cases in different nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies improve the episode complex procedures of
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one country but when you're doing it worldwide it's next level and Beyond it becomes complex for a variety of factors most notably policies compliance information security and banking rules then there are the large numbers they add more intricacy the worldwide Labor force 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 presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll design there's often an overwhelming variety of different systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or really extremely standard there's no real consistency structure we're living in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind every time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more a business spends on worldwide payroll the less of an image they see a lack of presence also encompasses payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide businesses have actually expressed that they don't 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 bad HCM data information entry mistakes badly interacted hires and terminations as well as lack management and system setups and after that when you round everything off and the data is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they count on the required numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and state what is it what does not require to be consisted of right and what does
it need to be considered 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 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 anywhere you look best ultimately building a knowledge base is definitely critical however all over you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is allowing us to kind of progress with that it likewise also to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and financing groups work more detailed together than ever um I'm always astonished when people state 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 profession would they split the payroll payment from calculation 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 procedure 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 third parties so with the
world we live in and well-being being more and more important to contribute to sort of the level of intricacy there's increasingly more advantages being organ or being used by organizations across the world so again you're just seeking to include more and more payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine difficulties or real difficult type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a couple of years I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding details into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce extra handoffs in the processes 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 know that we are working in today there is no reason why we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from an expense point of view from an impact point of view on workers it is definitely crucial that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental impact on individuals's wellness and many 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
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's seen as just a routine task. This is how it's viewed externally as well. For that reason, it is important to ensure that tasks like Wi-Fi International and other important matters are done properly. Using the first Global Payments very first payroll payment solution is a terrific initial step towards providing an extensive payroll service for workers worldwide. Standardization, worldwide procedures, and reducing the variety of tools, platforms, and checking account essential for international payroll are essential consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway we understand how how essential 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 involved in those procedures and likewise so envision sorry I'm just I was simply gon na state envision the quantity 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 possibly Millions imagine getting that numerous 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 job trying 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 require days of the week to attempt to browse them and really see what was going on and kind of shot to return to everybody so proceeding look why do companies choose to primary separate savings account there are services out there doing precisely this for particular countries and I have actually operated in a company or numerous businesses doing exactly that I can state it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anybody where we don't need to and any person that's handling 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 think many reasons one is it's the requirement I believe people have actually got so utilized to we require a brand-new bank account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires changing however eventually individuals are very stuck with what they recognize
with right um change is a challenging thing all of us don't like change um so I believe it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having keeping multiple savings account however there's a substantial amount of intricacy goes with setting up a checking account preserving it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual people so the complexity is huge but I think the sincere response is modification um people haven't had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to keep track of and this approach does posture a number of challenges um so Johnny might you inform us about those challenges 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you are worthy of a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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