Find out more about Papaya Global Payroll Locations ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and trustworthy technique of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Worker Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies offer competitive advantages bundles to international staff members despite the number of staff members in the company. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source regional advantages companies in every country, produce regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment costs distributed per place, overall employment costs per cycle and much more.
Internationally, I have actually shown management and tactical competence in directing massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for managing payroll methods, as discussed by Mark. My function includes handling 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 services supplier.
company to make the time 100 list for a lot of influential companies on the planet we provide payroll payments and labor force management to all staff member enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon good night depending upon where you remain in the world it's charming 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 ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've type of had a range of various functions on the service provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite interesting 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 everybody originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very very gloomy and I wish I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing 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 extremely really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and managing them becomes more and more complex International companies are wanting to discover Solutions and brand-new methods to simplify processes especially from a payroll and cross-border payment viewpoint many organizations maintain different checking account just for payroll while some have multiple accounts in various countries does it make good sense for companies to maintain separate savings account often in various nations it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies streamline the episode complex procedures of
making payroll payments accurately effectively safely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in enough in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of reasons most notably regulations compliance information security and banking guidelines then there are the sheer numbers they add more complexity the worldwide Labor force is currently 3 and a half billion individuals 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 traditional payroll design there's typically a frustrating variety of various systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or very very standard there's no real consistency structure we're living in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization invests in worldwide payroll the less of a photo they see an absence of exposure also reaches payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international businesses have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes poorly interacted hires and terminations along with lack management and system setups and after that when you round all of it off and the information is delivered to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they depend on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to staff members or otherwise that's a great concern I always throw this back and state what is it what does not need to be consisted of right and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 wherever you look best ultimately constructing a knowledge base is absolutely crucial but everywhere 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 take a look at the type 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 basic and technology is permitting us to type of move on with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely necessary that payroll and finance teams work more detailed together than ever um I'm constantly impressed when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation 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 information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on well-being and the payment landscape is ending up being progressively detailed. Services are constantly introducing brand-new benefits and payment alternatives, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technically advanced age, there's no reason for preserving troublesome procedures. Payroll, the business's biggest cost, must be processed correctly and on time. Even minor hold-ups can adversely impact staff members' well-being and have significant effects. For that reason, it's critical to prioritize accurate and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's viewed externally as well. For that reason, it is essential to guarantee that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Using the first Worldwide Payments very first payroll payment service is an excellent preliminary action towards providing a comprehensive payroll option for employees worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and checking account necessary for international payroll are key consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyway we understand how how crucial 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 easy as possible for everyone that's involved in those processes and also so think of sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job 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 browse them and in fact see what was going on and kind of shot to return to everybody so moving on appearance why do business select to main separate checking account there are companies out there doing precisely this for particular countries and I have actually worked in an organization or lots of companies doing exactly that I can state it does not always feel efficient and it does create more work I know we're not purposely doing that we're not producing additional work for anyone where we don't need to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous factors one is it's the requirement I think people have actually got so used to we need a new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I think this is a process that requires looking at it needs changing however ultimately people are very stuck with what they're familiar
with right um change is a tough thing all of us don't like change um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having keeping numerous savings account however there's a huge quantity of complexity chooses establishing a savings account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for individual individuals so the intricacy is huge however I believe the truthful response is modification um people haven't had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century or two there is a lot to keep an eye on and this approach does position numerous obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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