Find out more about Papaya Global Payroll B ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This provides us with a secure and trusted technique of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Worker Website
Workers have access to a Worker Portal where they can see their pay slips, wage and tax declarations and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to global workers despite the variety of workers in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source regional advantages providers in every country, produce local accounts and have a minimum variety of workers.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total work costs distributed per area, overall work expenses per cycle and a lot more.
Worldwide, I have actually demonstrated management and strategic competence in directing massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Business clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
business to make the time 100 list for many influential business worldwide we supply payroll payments and workforce management to all employee enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon good evening depending upon where you are in the world it's lovely to satisfy 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 have actually remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I've sort of had a range of various roles on the provider side and also on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it remains 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 extremely really uninspiring and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical asset uh we'll likewise review a recap which needs to leave his time at the really very 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 International labor forces become more and more common and handling them ends up being more and more intricate International organizations are seeking to find Solutions and new methods to enhance processes particularly from a payroll and cross-border payment viewpoint many organizations preserve separate checking account just for payroll while some have several accounts in different countries does it make good sense for business to keep different checking account often in various countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets also called virtual wallets play in assisting international business simplify the episode complex processes of
making payroll payments accurately effectively securely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being complicated for a range of reasons most importantly guidelines compliance data security and banking rules then there are the sheer numbers they add additional complexity the global Workforce is presently 3 and a half billion individuals 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 consider that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll design there's often a frustrating number of different systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in big quantities and or really very standard there's no real consistency structure we're residing in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind whenever I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more a company spends on worldwide payroll the less of a picture they see an absence of presence also extends to payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of international companies have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes poorly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the information is shipped to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they depend on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles service face when they're paying to staff members or otherwise that's a great question I constantly throw 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 capabilities 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 any place you look best eventually constructing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to kind of progress with that it also too to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely important that payroll and financing groups work closer together than ever um I'm constantly astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on wellness and the payment landscape is becoming increasingly intricate. Businesses are continuously presenting brand-new benefits and payment alternatives, which contributes to the general complexity. Big corporations often divide their payroll and payment processing into different groups, which can lead to inefficiencies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's highly innovative age, there's no reason for preserving troublesome treatments. Payroll, the business's most significant cost, need to be processed correctly and on time. Even small delays can negatively affect workers' well-being and have far-reaching consequences. Therefore, it's vital to focus on precise and timely payments.
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just discover when things fail. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's perceived externally too. Therefore, it is essential to make sure that jobs like Wi-Fi Global and other essential matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment service is a great initial action towards providing a detailed payroll service for employees worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and savings account required for global payroll are crucial consider achieving organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things don't go as planned. Eventually, we do not do it for the appreciation.
anyhow we understand how how important 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 easy as possible for everybody that's involved in those processes and likewise so envision sorry I'm just I was simply gon na state think of 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 numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and really see what was going on and sort of shot to get back to everyone so proceeding appearance why do companies select to primary separate bank accounts there are organizations out there doing exactly this for specific countries and I've worked in a service or numerous services doing exactly that I can state it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not developing additional work for anyone where we don't need 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 believe many factors one is it's the standard I think individuals have got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I believe this is a process that requires taking a look at it requires altering but eventually individuals are really stuck with what they're familiar
with right um change is a difficult thing we all don't like modification um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having preserving numerous checking account but there's a huge amount of complexity chooses setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is substantial however I think the truthful answer is change 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 believe you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no real excuse for not taking a look 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 or two there is a lot to keep track of and this technique does position numerous obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a range 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 Global workers you deserve a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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