Find out more about Papaya Global Cambodia ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to managing payments. This offers us with a protected and reputable approach of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app streamlines my payroll process, saving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Staff member Portal offers staff members with the ability to gain access to and view important files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global assists companies provide competitive benefits packages to worldwide workers regardless of the number of employees in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source local benefits service providers in every nation, produce regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment costs distributed per area, overall employment costs per cycle and far 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 methods for as Mark stated I work across business managing and structure external relationships supporting Enterprise customers and options in addition to acting as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for most influential companies worldwide we supply payroll payments and workforce management to all employee enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good evening depending on where you are in the world it's lovely to fulfill you and thank you very much 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 ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I have actually kind of had a variety of different roles on the service provider side and likewise on the vendor side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody 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 quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I actually 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 very uninspiring and I wish I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business maintain different
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is especially helpful for international organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, 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 go over why they are becoming a tactical property for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one nation however when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most significantly policies compliance data 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 estimated 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 consider that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll model there's often an overwhelming variety of different systems causing lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or very really fundamental there's no genuine consistency framework we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more a service spends on international payroll the less of a photo they see an absence of presence likewise reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide companies have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors inadequately communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the data is shipped to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they count on the necessary 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 difficulties company face when they're paying to staff members or otherwise that's a good concern I always toss this back and state what is it what doesn't require to be included right and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan 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 client's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is absolutely critical however everywhere 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 in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is permitting us to type of move forward with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm always astonished when people say I have actually divided 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 split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to add to sort of the level of complexity there's more and more benefits being organ or being used by businesses throughout the world so again you're simply aiming to add increasingly more payments to this already complicated 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 challenges or real tough type of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of years I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and a period that you understand that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and rightly as you stated payroll is the single most significant liability that any service has from a cost point of view from an effect perspective on workers it is absolutely vital that it's done correctly and on time so what we indicate 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 damaging result on individuals's wellness and lots of other aspects if individuals aren't paid uh I have actually constantly been surprised coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. Therefore, it is important to ensure that tasks like Wi-Fi International and other important matters are done properly. Utilizing the very first Global Payments first payroll payment solution is an excellent preliminary action towards supplying a comprehensive payroll service for workers worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and savings account necessary for international payroll are essential factors in achieving business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things don't go as planned. Eventually, we do not do it for the gratitude.
anyhow we know how how crucial 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 everyone that's involved in those processes and likewise so envision sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions imagine getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting to clean up 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 try to check out them and in fact see what was going on and kind of shot to return to everyone so carrying on appearance why do business select to primary different savings account there are services out there doing exactly this for particular countries and I have actually operated in an organization or lots of services doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not intentionally doing that we're not developing extra work for anyone where we do not have to and anyone that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many reasons one is it's the standard I believe people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a process that needs looking at it needs changing but ultimately individuals 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 think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having maintaining numerous savings account however there's a big amount of intricacy goes with setting up a bank account preserving it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is huge however I think the truthful response is modification um individuals have not been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does position a number of obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Business 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 gained another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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