Find out more about Papaya Global Payroll Site Youtube.Com ... 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 actually obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and reliable technique of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment documents. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to international staff members no matter the variety of workers in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source local advantages providers in every nation, develop local accounts and have a minimum number of employees.
The HR capabilities supplied by Global HR encompass different functions such as keeping an eye on vacation time, guaranteeing compliance, assisting in the procedure of inviting brand-new employees and bidding farewell to leaving ones, offering a safe and secure online platform for keeping employees' files, and providing support for work allow treatments in case your staff members need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total work costs dispersed per place, overall work expenses per cycle and far more.
Internationally, I have shown leadership and tactical knowledge in assisting massive populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for supervising payroll strategies, as mentioned by Mark. My function includes managing and establishing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
company to make the time 100 list for many influential business 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 also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon excellent night depending upon where you are in the world it's beautiful to satisfy 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 market 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 kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of various functions on the company side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very extremely dreary and I want I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a tactical possession uh we'll also discuss a recap which must leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more common and handling them ends up being increasingly more intricate Worldwide companies are seeking to find Solutions and new ways to enhance procedures especially from a payroll and cross-border payment viewpoint lots of organizations keep different bank account just for payroll while some have numerous accounts in various countries does it make good sense for business to preserve separate bank accounts in some cases in different nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting international companies improve the episode complex procedures of
making payroll payments precisely efficiently 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 accurately forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of reasons most notably policies compliance information security and banking rules then there are the large numbers they include further complexity the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the traditional payroll model there's often a frustrating number of different systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in big amounts and or extremely really standard there's no genuine consistency framework we're living in a period of tech however 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 believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more a business spends on international payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal nearly half of international companies have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors improperly 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 wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they rely on the necessary several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles organization face when they're paying to staff members or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't require to be consisted of ideal and what does
it require to be thought about there's differing 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is absolutely important but everywhere you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type 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 definitely fundamental and innovation is permitting us to sort of move on with that it also also to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and financing teams work better together than ever um I'm always astonished when people state I have actually split payroll and payment um if you walk down the street and asked anyone 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 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 process it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high worth on well-being and the payment landscape is ending up being progressively detailed. Services are continually presenting brand-new benefits and payment alternatives, which contributes to the total complexity. Big corporations frequently divide their payroll and payment processing into different teams, which can result in inadequacies and bottlenecks. In my opinion, this does not have to be the case. In today's technologically advanced age, there's no validation for preserving troublesome treatments. Payroll, the business's biggest expenditure, should be processed correctly and on time. Even minor delays can negatively affect employees' wellness and have far-reaching consequences. Therefore, it's important to prioritize precise and prompt payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only notice when things go wrong. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's viewed externally also. Therefore, it is important to make sure that tasks like Wi-Fi Global and other important matters are done properly. Using the first Worldwide Payments first payroll payment option is an excellent initial step towards offering a thorough payroll option for employees worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and checking account needed for worldwide payroll are key factors in accomplishing organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyhow we understand how how essential a function 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 everybody that's associated with those processes and also so imagine sorry I'm simply I was just gon na say picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions imagine getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and really see what was going on and type of shot to get back to everyone so proceeding appearance why do companies pick to main different bank accounts there are organizations out there doing exactly this for particular nations and I've worked in a service or lots of services doing exactly that I can state it doesn't always feel efficient and it does produce more work I know we're not intentionally doing that we're not developing additional work for anyone where we do not have to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I believe people have actually got so used to we need a brand-new checking account we open an entity and rightly 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 simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I believe this is a process that requires looking at it needs altering but eventually people are really stuck with what they're familiar
with best um change is a challenging thing all of us do not like change um so I think it's just kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having maintaining numerous savings account however there's a huge amount of complexity goes with establishing a bank account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private people so the intricacy is big however I think the honest response is modification um individuals have not been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to alter but we've constantly 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 know what might nearly be identified to be the next Century or two there is a lot to track and this approach does present numerous difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I simply did you switched our Enterprise 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 staff members you deserve a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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