Find out more about Papaya Global Azerbaijan ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and trustworthy approach of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Staff member Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to global employees despite the variety of employees in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source local benefits suppliers in every nation, create local accounts and have a minimum variety of employees.
The HR capabilities supplied by Global HR include different functions such as keeping an eye on vacation time, guaranteeing compliance, helping with the procedure of inviting brand-new employees and bidding goodbye to departing ones, using a protected online platform for keeping employees' documents, and supplying support for work allow procedures in case your employees require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total work expenses dispersed per place, overall work costs per cycle and a lot more.
environments across the globe I provided management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business managing and building external relationships supporting Enterprise clients and services as well as acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for many influential business worldwide we supply payroll payments and labor force management to all employee enters over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good 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 stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and particularly 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 decided to sort of make a real go at that over the last five or six years where I've type of had a range of different roles on the company side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or so to join all of us 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 already simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really 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 uninspiring and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies preserve different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in adequate in one country but when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of reasons most notably guidelines compliance information security and banking guidelines then there are the large numbers they add additional intricacy the global Workforce is currently three and a half billion individuals 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 standard payroll model there's typically a frustrating variety of different systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely really fundamental there's no real consistency structure we're living in a period of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply 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 only 11 of services state they have Labor force information in real time that's another number that offers me sleepless nights and rather honestly the more a business invests in worldwide payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of international businesses have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes poorly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is delivered to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they count on the needed 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 service face when they're making payments to workers or otherwise that's a great concern I constantly throw this back and state what is it what doesn't need to be consisted of right and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is definitely vital but everywhere 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 type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to type of move forward with that it likewise as well to add to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely essential that payroll and financing groups work better together than ever um I'm constantly impressed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to add to type of the level of intricacy there's increasingly more benefits being organ or being provided by organizations across the world so once again you're just wanting to add more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real obstacles or genuine tough kind of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to create additional handoffs in the processes that we run in they just make them more timely they make them less effective and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any service has from an expense point of view from an effect perspective on employees 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 have to be done right it has the biggest harmful effect on individuals's well-being and many other elements if individuals aren't paid uh I have actually constantly been astonished entering into this Market kind of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however ultimately 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 just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment option is a fantastic primary step um supplying an end-to-end payroll service for your employees internationally again I think is another huge um procedure again aligning and ensuring you have standardization International processes all of those things are definitely key to success success of companies and lowering the variety of tools platforms and bank accounts they require for their Global payroll too couldn't 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 five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyway we understand how how essential a role 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 involved in those procedures and also so envision sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of 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 think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and actually see what was going on and kind of try to get back to everyone so proceeding appearance why do companies pick to main separate savings account there are services out there doing precisely this for specific nations and I have actually worked in a company or many companies doing precisely that I can state it doesn't always feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for anybody where we do not have to and anybody that's managing 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 amount that we are I believe lots of reasons one is it's the standard I think individuals have actually got so used to we require a brand-new checking 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 believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually taken a look 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 believe this is a process that requires looking at it requires changing however ultimately individuals are extremely stuck to what they recognize
with right um modification is a difficult thing we all do not like change um so I think it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having maintaining numerous savings account however there's a substantial quantity of complexity chooses setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private individuals so the intricacy is big but I think the sincere answer is modification um people haven't had the ability to alter or have not had always the understanding to really make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or so there is a lot to monitor and this method does posture numerous obstacles um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I simply did you switched 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 Global employees you deserve a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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