Find out more about How To Add Expenses To Papaya Global Payroll ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and trusted technique of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app improves my payroll procedure, conserving me a significant amount of time each month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Worker Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to international employees regardless of the variety of employees in the company. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source regional advantages suppliers in every country, produce local accounts and have a minimum number of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, overall work expenses dispersed per area, overall work expenses per cycle and a lot more.
Internationally, I have shown management and tactical knowledge in directing massive populations of over 100,000 staff members across 170 nations. Presently, I are accountable for supervising payroll strategies, as mentioned by Mark. My function includes managing and establishing external partnerships, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
company to make the time 100 list for many prominent business on the planet we provide payroll payments and workforce management to all employee enters over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon excellent evening depending upon where you remain 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 industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was fascinated 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 5 or six years where I've type of had a variety of different functions on the supplier side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today certainly 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 wish I was somewhere else 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 business preserve different
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in adequate in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most importantly guidelines compliance data security and banking rules then there are the large numbers they add more complexity the global Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll model there's typically a frustrating variety of different systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or extremely very fundamental there's no genuine consistency framework we're residing in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in worldwide payroll the less of a photo they see an absence of presence also extends to payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of international services have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is delivered to the wrong place the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they rely on the essential several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges business face when they're making payments to workers or otherwise that's a good question I always throw this back and state what is it what doesn't need to be consisted of best and what does
it require to be considered 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 capabilities 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 consumer's own in-country account so there's complexity anywhere you look best eventually constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to sort of move forward with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely essential that payroll and finance teams work better together than ever um I'm constantly impressed when individuals state I have actually divided 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 split the payroll payment from calculation 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 wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on wellness and the settlement landscape is becoming progressively complex. Companies are continually presenting new advantages and payment alternatives, which contributes to the total intricacy. Big corporations typically divide their payroll and payment processing into separate teams, which can lead to inefficiencies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technically sophisticated age, there's no validation for maintaining cumbersome procedures. Payroll, the company's most significant expenditure, need to be processed properly and on time. Even slight delays can negatively impact staff members' wellness and have far-reaching consequences. Therefore, it's vital to prioritize precise and prompt payments.
payroll group get um so I'm unsure anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the very first Worldwide Payments very first payroll payment solution is an excellent first step um providing an end-to-end payroll service for your employees globally once again I think is another substantial um procedure once again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely crucial to success success of businesses and minimizing the variety of tools platforms and bank accounts they need for their International 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 have actually never had a hundred thousand of 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 complaints where things have not gone rather where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyhow we understand 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 easy as possible for everybody that's associated with those processes and likewise so envision sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job attempting to clean 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 in fact see what was going on and sort of try to return to everyone so proceeding appearance why do business choose to main separate bank accounts there are services out there doing exactly this for specific countries and I've operated in a service or many businesses doing precisely that I can say it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not creating extra work for any person where we do not need to and anyone that's handling that procedure 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 believe lots of factors one is it's the requirement I believe individuals have actually got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have embraced and continue to do over years and years passed by 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 believe there's a range I think this is a process that requires taking a look at it requires altering however eventually individuals are extremely stuck to what they recognize
with right um modification is a challenging thing we all do not like modification um so I think it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having maintaining multiple bank accounts however there's a huge quantity of intricacy goes with setting up a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for specific people so the complexity is substantial but I think the truthful response is modification um people have not had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change however we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century or so there is a lot to track and this approach does present a number of obstacles um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your accomplishments.
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