Find out more about Papaya Global Payroll Closing ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This provides us with a protected and reliable method of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Employee Portal provides workers with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global assists business use competitive advantages packages to global workers despite the variety of employees in the business. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local advantages providers in every country, develop regional accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR incorporate different functions such as monitoring vacation time, ensuring compliance, facilitating the process of inviting new workers and bidding goodbye to departing ones, providing a safe online platform for saving employees' documents, and supplying support for work permit procedures in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, overall employment expenses distributed per place, total work expenses per cycle and much more.
Internationally, I have demonstrated management and tactical competence in directing massive populations of over 100,000 workers across 170 nations. Currently, I are accountable for managing payroll methods, as discussed by Mark. My role includes handling and developing external partnerships, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for the majority of prominent business worldwide we provide payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon good evening depending on where you remain 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 have actually remained in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was interested by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I have actually kind of had a range of various functions on the supplier side and also on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly 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 really very bleak and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business keep different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical asset uh we'll likewise review a recap and that ought to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of common and handling them ends up being a growing number of intricate Global companies are wanting to discover Solutions and brand-new ways to streamline procedures specifically from a payroll and cross-border payment perspective many companies keep separate savings account just for payroll while some have multiple accounts in various countries does it make sense for business to preserve different savings account in some cases in different countries it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business improve the episode complex processes of
making payroll payments precisely effectively firmly and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages 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 property 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 notably guidelines compliance data security and banking rules then there are the large numbers they include further intricacy the worldwide Workforce is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll design there's frequently an overwhelming number of different systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or very very standard there's no real consistency structure we're residing in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of a photo they see a lack of presence likewise extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction nearly half of global businesses have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors inadequately interacted hires and terminations as well as lack management and system setups and after that when you round it all off and the data is shipped to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they depend on the essential numerous 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 service face when they're paying to workers or otherwise that's a great question I always throw this back and state what is it what does not need to be consisted of right and what does
it need 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 abilities 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 intricacy anywhere you look best ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to kind of move forward with that it also too to add to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work more detailed together than ever um I'm constantly astonished when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market 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 wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to contribute to kind of the level of intricacy there's a growing number of benefits being organ or being offered by services across the world so again you're just seeking to include a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real difficulties or real tough type of pay uses to play to pay people I believe yeah I imply over the last well yeah a couple of decades I would definitely say that the bigger a service 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 information into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to develop additional handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any organization has from a cost perspective from an impact point of view on staff members it is absolutely vital that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive result on people's well-being and lots of other factors if individuals aren't paid uh I've constantly been amazed entering into this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally also. Therefore, it is essential to ensure that jobs like Wi-Fi International and other vital matters are done correctly. Using the very first Worldwide Payments very first payroll payment service is an excellent initial action towards supplying an extensive payroll option for staff members worldwide. Standardization, global processes, and lowering the number of tools, platforms, and savings account needed for global payroll are essential consider achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we understand how how important a function 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 procedures and likewise so envision sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting 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 try to check out them and actually see what was going on and type of shot to get back to everyone so carrying on look why do companies choose to main different checking account there are services out there doing precisely this for particular nations and I have actually operated in an organization or many businesses doing precisely that I can say it does not constantly feel effective and it does develop more work I know we're not deliberately doing that we're not developing additional work for anybody where we don't 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 believe many factors one is it's the requirement I think people have got so used to we require a brand-new bank 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 believe it's simply been the standard and the norm individuals have embraced and continue to do over years and years passed by 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 believe there's a range I think this is a process that needs taking a look at it needs changing but ultimately people are really stuck to what they're familiar
with right um modification is a hard thing all of us don't like change um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having keeping multiple bank accounts however there's a big quantity of complexity chooses setting up a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the intricacy is substantial but I think the honest response is change um individuals have not been able to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or two there is a lot to track and this technique does pose several challenges um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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