Find out more about Papaya Global Board Of Directors ... 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 acquired a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and dependable approach of paying to our 10,000 workers worldwide.}
The advanced global payroll management app enhances my payroll process, saving me a significant amount of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Staff member Website
Workers have access to an Employee Portal where they can view their pay slips, wage and tax statements and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive benefits packages to international staff members regardless of the number of workers in the business. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source local advantages service providers in every nation, create local accounts and have a minimum number of staff members.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment costs distributed per place, overall work costs per cycle and a lot more.
environments around the world I supplied management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across business managing and structure external relationships supporting Enterprise customers and services along with serving as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for most influential business in the world we supply payroll payments and workforce management to all worker types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon good evening depending upon where you are in the world it's lovely to satisfy 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 have actually 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 amazed by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've sort of had a variety of different functions on the supplier side and also on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I truly 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 very gloomy and I wish I was elsewhere at this moment in time alright so let's begin 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
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in sufficient in one nation however when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most notably guidelines compliance data security and banking guidelines then there are the sheer numbers they include further complexity the international Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the standard payroll design there's typically an overwhelming variety of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in big quantities and or extremely really basic there's no real consistency framework 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 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 services say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization spends on global payroll the less of an image they see an absence of visibility likewise encompasses payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide services have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes poorly communicated hires and terminations along with absence management and system configurations and after that when you round all of it off and the data is delivered to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the needed several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't require to be included ideal 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 amount of time there's payment capabilities 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 building a knowledge base is definitely critical but all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you 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 definitely fundamental and innovation is enabling us to sort of progress with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely vital that payroll and finance teams work better together than ever um I'm constantly surprised when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more crucial to contribute to type of the level of intricacy there's more and more advantages being organ or being offered by services across the world so again you're just seeking to add increasingly more payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine difficult sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would absolutely say 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 task there are groups feeding information into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we run 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 know that we are operating in today there is no reason we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from a cost point of view from an effect point of view on staff members it is absolutely crucial that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant harmful impact on individuals's wellness and many other aspects if people aren't paid uh I have actually constantly been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally also. For that reason, it is important to guarantee that tasks like Wi-Fi Worldwide and other vital matters are done properly. Using the first International Payments first payroll payment solution is an excellent initial step towards supplying an extensive payroll service for workers worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account necessary for international payroll are essential consider attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as prepared. Eventually, we do not do it for the thankfulness.
anyway we know 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 easy as possible for everybody that's associated with those procedures and likewise so picture sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of shot to get back to everyone so proceeding appearance why do business choose to main different bank accounts there are organizations out there doing exactly this for specific nations and I've operated in a business or many organizations doing exactly that I can state it doesn't always feel effective and it does develop more work I know we're not deliberately doing that we're not developing extra work for anyone where we don't need to and anyone that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the standard I believe people have 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 number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I think this is a process that needs looking at it needs altering but ultimately individuals are really stuck to what they recognize
with right um change is a hard thing we all do not like change um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having maintaining numerous bank accounts however there's a big amount of intricacy chooses setting up a checking account preserving it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is substantial but I think the truthful response is change um individuals haven't had the ability to change or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is knowledge you know and there is an aspect 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 proceeding and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to monitor and this approach does present numerous difficulties um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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