Find out more about Papaya Global Calculator ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and trustworthy technique of making payments to our 10,000 employees worldwide.}
The advanced global payroll management app enhances my payroll process, saving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Employee Portal
Workers have access to a Staff member Website 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 helps business provide competitive benefits packages to global staff members despite the number of workers in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source local benefits companies in every country, create local accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total employment costs distributed per location, overall employment expenses per cycle and far more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise clients and options as well as acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We specialize in offering payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I have actually type of had a range of various roles on the provider side and likewise on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is 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 really very bleak and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve different
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic asset for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business properly anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in enough in one nation however when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most significantly policies compliance data security and banking guidelines then there are the large numbers they include further intricacy the global Workforce is currently three and a half billion people by 2030 it's approximated 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 consider that there are some 230 million services and growing all doing their own thing around the world in the standard payroll model there's often a frustrating number of various systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or very extremely basic there's no genuine consistency framework we're living in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which 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 just 11 of services say they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more a service invests in global payroll the less of a picture they see an absence of presence likewise extends to payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of global services have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors improperly interacted hires and terminations along with absence management and system configurations and after that when you round everything off and the information is delivered to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the required numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're paying to workers or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't require to be included right and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is absolutely important but all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is enabling us to sort of progress with that it likewise too to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely imperative that payroll and financing teams work better together than ever um I'm always amazed when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from calculation 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 process it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on well-being and the settlement landscape is becoming increasingly intricate. Services are continuously introducing new benefits and payment alternatives, which contributes to the total intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can cause inefficiencies and traffic jams. In my opinion, this doesn't have to hold true. In today's highly sophisticated age, there's no justification for keeping troublesome procedures. Payroll, the business's most significant expense, need to be processed properly and on time. Even minor delays can negatively impact staff members' well-being and have significant consequences. Therefore, it's crucial to prioritize accurate and timely payments.
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just notice when things fail. However, when things go right, it's seen as just a routine task. This is how it's perceived externally too. Therefore, it is vital to guarantee that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment solution is a fantastic initial action towards providing a thorough payroll option for workers worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and bank accounts required for global payroll are crucial consider attaining business success. While we don't expect 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 don't do it for the appreciation.
anyhow we know how how essential a role 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 imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job attempting to clean up all those up for sure oh definitely I can't imagine 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 shot to return to everybody so proceeding appearance why do companies pick to main separate bank accounts there are organizations out there doing precisely this for specific countries and I've worked in a service or numerous organizations doing precisely that I can say it does not always feel effective and it does create more work I understand we're not intentionally doing that we're not developing extra work for anybody where we do not have to and any person that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the requirement I believe individuals have actually got so used to we need a new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm the people have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a variety I believe this is a procedure that needs taking a look at it needs changing but eventually people are extremely stuck with what they're familiar
with best um change is a hard thing all of us do not like change 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 advantages of having preserving numerous checking account however there's a huge quantity of complexity goes with setting up a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is substantial but I believe the honest answer is modification um individuals have not been able to alter or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I think it is understanding you know and there is a component of resistance to change but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to keep an eye on and this technique does posture numerous challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I just 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 feels like our CFO has actually gained another CFO, and with this boosted ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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