Find out more about Papaya Global Certification Course ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and trustworthy approach of making payments to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll process, saving me a substantial quantity of time every month. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
Worker Portal
Employees have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive benefits packages to global employees regardless of the variety of workers in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local benefits companies in every nation, produce regional accounts and have a minimum variety of workers.
The HR abilities offered by International HR encompass various functions such as keeping an eye on getaway time, making sure compliance, helping with the procedure of inviting new staff members and bidding farewell to departing ones, using a safe and secure online platform for storing employees' documents, and supplying assistance for work allow procedures in case your staff members need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total work costs dispersed per place, total employment costs per cycle and far more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and building external relationships supporting Business customers and services in addition to serving as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for a lot of influential business on the planet we provide payroll payments and labor force management to all staff member enters over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon excellent night depending upon where you are in the world it's lovely to fulfill 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 ten years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've type of had a range of various functions on the provider side and also on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide 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 intriguing and I can see it going on currently simply 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 remains 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 very very dreary and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business preserve different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of maintaining different savings account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one country but when you're doing it worldwide it's next level and Beyond it becomes complex for a variety of reasons most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include more complexity the worldwide Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals 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 worldwide in the traditional payroll model there's often a frustrating variety of different systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in big quantities and or extremely very standard there's no real consistency structure we're residing in an era of tech but payroll has actually been slow 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 whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization invests in worldwide payroll the less of a photo they see a lack of exposure likewise reaches payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of global companies have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes poorly interacted hires and terminations as well as lack management and system setups and after that when you round it all off and the information is delivered to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they depend on the needed numerous 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 obstacles business face when they're making payments to employees or otherwise that's a good concern I always toss this back and state what is it what does not need to be consisted of best 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 country there's payment timespan 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 any place you look best ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like incredibly payments no if however some babies 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 think there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to sort of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance groups work closer together than ever um I'm always surprised when individuals say I've 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 computation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process 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 wellness being increasingly more important to add to type of the level of intricacy there's a growing number of advantages being organ or being offered by companies across the world so again you're simply aiming to include a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real difficulties or genuine tough sort of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a couple of years I would definitely say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding details into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to create additional handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason we are still making this as difficult as it requires to be concurred and appropriately as you said payroll is the single biggest liability that any company has from a cost viewpoint from an impact viewpoint on workers it is absolutely crucial 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 need to be done right it has the most significant harmful result on individuals's well-being and many other aspects if people aren't paid uh I have actually constantly been amazed entering this Market type of the last 5 to ten years is how little thanks the
The payroll group may 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 workers or not. Payroll is a crucial cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally too. For that reason, it is important to make sure that jobs like Wi-Fi International and other vital matters are done properly. Using the first International Payments first payroll payment solution is a fantastic initial step towards offering an extensive payroll service for workers worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and checking account required for international payroll are key factors in achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyway we know 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 everyone that's associated with those procedures and also so think of sorry I'm just I was just gon na say envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating job attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and in fact see what was going on and type of try to get back to everyone so carrying on look why do companies pick to primary different checking account there are services out there doing exactly this for specific countries and I have actually operated in a company or many companies doing exactly that I can state it does not always feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for any person where we do not have to and anyone 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 quantity that we are I think many factors one is it's the requirement I think individuals have actually got so used to we need a new checking account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I think this is a procedure that needs taking a look at it requires altering however ultimately individuals are extremely stuck to what they recognize
with ideal um change is a tough thing all of us don't like modification um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving multiple checking account but there's a big quantity of complexity chooses setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private people so the complexity is huge but I think the sincere answer is modification um people haven't been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century or two there is a lot to keep an eye on and this method does position several difficulties um so Johnny might you inform us about those challenges yeah naturally 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 handle our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your achievements.
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