Find out more about Papaya Global Payroll Software Programs ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and secure and reputable technique of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll procedure, saving me a substantial quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Staff member Portal supplies workers with the capability to access and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits plans to worldwide workers despite the number of staff members in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source regional advantages service providers in every country, develop regional accounts and have a minimum number of employees.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total work expenses distributed per area, total work costs per cycle and much more.
Worldwide, I have demonstrated management and strategic knowledge in guiding large-scale populations of over 100,000 workers across 170 nations. Presently, I are accountable for managing payroll methods, as discussed by Mark. My role involves handling and developing external partnerships, supporting Business clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
business to make the time 100 list for a lot of influential companies in the world we supply payroll payments and workforce management to all worker enters 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 naturally thank you good morning excellent afternoon excellent evening depending on where you remain in the world it's lovely to satisfy you and thank you very much 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 10 years and particularly working on the payroll and payment sector for over 7 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 genuine go at that over the last five or six years where I have actually kind of had a variety of various roles on the company side and also on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone 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 drizzling here it's really extremely uninspiring and I want I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise discuss a recap which needs to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more common and managing them becomes a growing number of complicated Global companies are wanting to discover Solutions and new ways to enhance processes specifically from a payroll and cross-border payment standpoint numerous companies maintain different savings account just for payroll while some have multiple accounts in various countries does it make sense for business to keep separate savings account in some cases in various countries it does however just for payroll is there a better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies simplify the episode complex procedures of
making payroll payments accurately efficiently securely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in adequate in one country however when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most notably regulations compliance data security and banking guidelines then there are the large numbers they add additional complexity the worldwide Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the conventional payroll model there's often an overwhelming variety of various systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely extremely standard there's no real consistency framework we're living in an era of tech but 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 simply blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of a picture they see an absence of presence likewise extends to payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide businesses have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors improperly interacted hires and terminations as well as absence management and system setups and then when you round everything off and the information is shipped to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they rely on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles company face when they're paying to staff members or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't require to be included right and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 right ultimately constructing a knowledge base is absolutely important but all over you look with payroll payment they resemble extremely payments no if however some babies 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 believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to sort of move on with that it likewise as well to add to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup processes is absolutely essential that payroll and financing teams work closer together than ever um I'm always surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to contribute to type of the level of intricacy there's a growing number of advantages being organ or being provided by services throughout the world so again you're simply seeking to include a growing number of payments to this already complicated landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine challenges or genuine tough type of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you understand that we are working in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from an expense point of view from an impact viewpoint on employees it is definitely important 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 damaging effect on individuals's wellness and many other elements if individuals aren't paid uh I have actually constantly been astonished entering into this Market kind of the last 5 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 great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people only notice when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally as well. For that reason, it is vital to guarantee that tasks like Wi-Fi Global and other vital matters are done properly. Utilizing the first Worldwide Payments first payroll payment service is a great initial action towards offering a thorough payroll service for employees worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and checking account needed for worldwide payroll are key factors in attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things do not go as prepared. Eventually, we don't do it for the appreciation.
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 associated with those processes and likewise so envision sorry I'm just I was just gon na state 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 discussing numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and type of try to return to everyone so proceeding look why do companies pick to primary different savings account there are companies out there doing precisely this for specific nations and I've operated in a service or numerous companies doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not intentionally doing that we're not developing extra work for anybody where we do not have to and anybody that's managing 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 believe many factors one is it's the standard I think individuals have got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I believe this is a process that requires taking a look at it needs altering but ultimately individuals are very stuck with what they're familiar
with ideal um modification is a difficult thing all of us do not like modification um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having keeping several bank accounts however there's a substantial quantity of intricacy chooses setting up a bank account maintaining it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for specific individuals so the intricacy is huge but I think the honest response is modification um people haven't been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I think it is understanding you understand and there is an element of resistance to change however we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century or two there is a lot to monitor and this approach does pose several challenges um so Johnny might you tell us about those difficulties 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 Worldwide employees you deserve a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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