Find out more about Papaya Global How To Change The Payroll Deadline ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and secure and reliable method of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app simplifies my payroll procedure, saving me a significant amount of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Employee Portal offers workers with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to worldwide staff members regardless of the variety of workers in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every nation, create local accounts and have a minimum number of employees.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall work costs distributed per location, overall work expenses per cycle and much more.
Worldwide, I have shown leadership and strategic knowledge in assisting large-scale populations of over 100,000 staff members across 170 countries. Currently, I are accountable for supervising payroll techniques, as discussed by Mark. My function includes handling and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for most prominent business worldwide we provide payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon great night depending upon where you are in the world it's lovely to fulfill you and thank you quite 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 10 years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I've type of had a variety of different roles on the service provider side and also on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everybody 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 kind of let them do that so it 'd be rather interesting 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 originates from and I actually do hope it's much sunnier than it remains 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 very extremely uninspiring and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical possession uh we'll likewise discuss a wrap-up and that must leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more typical and handling them ends up being more and more complex Worldwide companies are wanting to discover Solutions and brand-new methods to streamline procedures particularly from a payroll and cross-border payment perspective lots of companies maintain different savings account just for payroll while some have numerous accounts in different countries does it make good sense for companies to preserve separate savings account often in different countries it does but just for payroll is there a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business improve the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex obstacle for services running internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll bank accounts, find out how companies forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a difficult job into a tactical property.
Handling payroll globally is an overwhelming task due to different policies, compliance requirements, data security concerns, and banking guidelines. The large variety of employees and companies contributes to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and a lack of combination, resulting in inconsistencies and inefficiencies. Despite residing in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to supply insights and options to simplify and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that offers me sleepless nights and quite honestly the more an organization spends on worldwide payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide organizations have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors poorly interacted hires and terminations as well as absence management and system setups and after that when you round it all off and the information is delivered to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they rely on the necessary numerous procedures 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 difficulties business face when they're paying to staff members or otherwise that's a good concern I always throw this back and say what is it what does not require to be included ideal 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 consumer's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble incredibly 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 in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to kind of move forward with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely important that payroll and financing groups work more detailed together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from computation 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 eventually 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 but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more crucial to add to type of the level of complexity there's increasingly more benefits being organ or being offered by services throughout the world so once again you're just wanting to add more and more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine obstacles or genuine tough type of pay uses to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would absolutely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an era 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 requires to be concurred and appropriately as you said payroll is the single biggest liability that any service has from an expense perspective from an effect perspective on employees it is definitely crucial 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 damaging result on people's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been impressed coming into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this type of webinar has actually 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 however eventually payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it fails 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 definitely vital that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment solution is a terrific primary step um providing an end-to-end payroll solution for your employees internationally once again I believe is another huge um procedure again aligning and ensuring you have standardization Global procedures all of those things are definitely essential to success success of organizations and decreasing the variety of tools platforms and checking account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
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 everybody that's involved in those processes and likewise so picture sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions envision getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean up 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 really see what was going on and sort of try to return to everyone so proceeding look why do companies choose to primary different bank accounts there are organizations out there doing exactly this for particular nations and I have actually operated in an organization or many organizations doing precisely that I can say it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not need to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I believe people have got so used to we need a new savings account we open an entity and rightly so you require it for payroll functions however 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 adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I believe this is a procedure that requires looking at it requires altering but ultimately people are really stuck with what they recognize
with right um modification is a challenging thing we all don't like change um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having maintaining numerous bank accounts however there's a substantial quantity of intricacy goes with establishing a checking account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is substantial however I believe the honest answer is modification um people haven't been able to change or have not had always the knowledge to actually make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be determined to be the next Century or two there is a lot to keep an eye on and this technique does position several obstacles um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I just did you changed 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 employees you are worthy of a corner office 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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