Find out more about Papaya Global Payroll Tax Deferral ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and secure and reliable approach of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
Staff member Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive benefits plans to international staff members despite the number of workers in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source local advantages suppliers in every country, produce regional accounts and have a minimum number of workers.
The HR capabilities offered by Global HR include different functions such as monitoring getaway time, guaranteeing compliance, assisting in the procedure of welcoming new employees and bidding goodbye to departing ones, providing a secure online platform for keeping workers' documents, and supplying assistance for work allow procedures in case your workers need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment costs distributed per area, total employment expenses per cycle and far more.
Globally, I have actually shown management and strategic knowledge in assisting large-scale populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for supervising payroll methods, as mentioned by Mark. My role includes handling and establishing external collaborations, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for most influential business on the planet we provide payroll payments and labor force management to all worker 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 introduce yourself obviously thank you good morning great afternoon excellent night depending upon where you remain in the world it's lovely to meet 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 industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem 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 sort of had a range of different functions on the supplier side and also on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to kind 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 drizzling here it's really really gloomy and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business keep different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic asset uh we'll likewise discuss a recap which must leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of typical and handling them ends up being increasingly more intricate Worldwide companies are seeking to find Solutions and brand-new ways to enhance procedures specifically from a payroll and cross-border payment standpoint numerous companies keep different checking account just for payroll while some have numerous accounts in various nations does it make sense for companies to keep different savings account sometimes in different countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international companies simplify the episode complex processes of
Making sure precise, effective, and timely payroll payments is a complex difficulty for businesses operating internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to enhance working capital, and find how streamlining global payroll payments can transform them from a burdensome task into a strategic asset.
Managing payroll worldwide is a challenging job due to different guidelines, compliance requirements, information security issues, and banking rules. The sheer variety of workers and services contributes to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of combination, resulting in disparities and inefficiencies. In spite of residing in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to offer insights and solutions to streamline and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a business invests in global payroll the less of an image they see an absence of visibility likewise extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of global services have revealed 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 data entry mistakes badly communicated hires and terminations along with lack management and system setups and after that when you round everything off and the information is shipped to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they depend on the needed several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's a good question I constantly throw this back and state what is it what doesn't need to be included right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 have to pay from the client's own in-country account so there's intricacy wherever you look ideal eventually developing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort 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 basic and technology is permitting us to sort of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely vital that payroll and finance groups work more detailed together than ever um I'm constantly amazed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of important to add to kind of the level of complexity there's a growing number of advantages being organ or being used by businesses across the world so again you're simply looking to include a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or real difficult type of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of years I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding information into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to develop extra handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they don't make them what they need to be in in an age of tech and an era that you know that we are working in today there is no reason we are still making this as difficult as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any service has from a cost viewpoint from an effect viewpoint on staff members it is definitely critical that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging impact on individuals's well-being and many other factors if individuals aren't paid uh I've always been impressed coming into this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the first International Payments first payroll payment option is a great first step um providing an end-to-end payroll solution for your staff members globally again I believe is another huge um procedure once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely key to success success of businesses and lowering the number of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyway we know how how important 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 simple as possible for everyone that's involved in those procedures and also so envision sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions envision getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job attempting to clean all those up for sure oh absolutely I can't think of 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 really see what was going on and type of try to get back to everybody so moving on look why do companies pick to main separate checking account there are businesses out there doing exactly this for specific nations and I've worked in an organization or lots of businesses doing precisely that I can state it does not constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not developing additional work for any person where we don't need to and anybody that's managing that process 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 numerous factors one is it's the requirement I think individuals have got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I think this is a process that requires looking at it needs changing however ultimately individuals are very stuck with what they recognize
with ideal um change is a challenging thing all of us do not like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having preserving numerous bank accounts but there's a substantial quantity of intricacy goes with establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the complexity is substantial however I think the honest response is modification um individuals have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we have actually always done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century approximately there is a lot to monitor and this method does present a number of challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I just did you changed 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 International staff members you are worthy of a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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