Find out more about Papaya Global Germany ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and dependable technique of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app improves my payroll process, saving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Worker Website
Employees have access to a Worker Website where they can see their pay slips, wage and tax statements and employment files. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive advantages packages to global staff members despite the number of employees in the business. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits service providers in every nation, produce regional accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR incorporate numerous functions such as keeping an eye on holiday time, guaranteeing compliance, assisting in the process of welcoming brand-new staff members and bidding goodbye to departing ones, using a safe and secure online platform for saving employees' documents, and offering support for work allow treatments 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 variety, total employment costs distributed per location, overall work costs per cycle and much more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business managing and building external relationships supporting Enterprise clients and options along with serving as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We concentrate on providing payroll and labor force management services to workers 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, despite your location. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually sort of had a range of different roles on the supplier side and likewise on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely bleak and I want I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is particularly helpful for global companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate 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 rules then there are the large numbers they add further complexity the international Workforce is currently 3 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 consider that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll model there's frequently an overwhelming number of different systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in large amounts and or really extremely basic there's no genuine consistency structure we're residing in an age 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 each time I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization invests in global payroll the less of an image 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 deal nearly half of global companies have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes improperly interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the information is shipped to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the required numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're paying to workers or otherwise that's a great concern I always toss this back and say what is it what does not require to be included right 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 amount of time there's payment capabilities 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 any place you look best ultimately building a knowledge base is definitely critical but all over you look with payroll payment they are like extremely 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 in 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 type of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing groups work closer together than ever um I'm always astonished when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 typically 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more essential to add to sort of the level of intricacy there's more and more benefits being organ or being offered by companies throughout the world so once again you're just wanting to include more and more payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real difficulties or genuine challenging kind of pay uses to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams 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 but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to create additional handoffs in the processes that we operate in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and a period that you understand that we are operating in today there is no reason that we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any company has from an expense point of view from an effect perspective on workers it is definitely crucial that it's done properly 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 destructive result on people's well-being and numerous other elements if individuals aren't paid uh I have actually constantly been impressed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just see when things go wrong. However, when things go right, it's seen as just a regular job. This is how it's perceived externally too. Therefore, it is important to ensure that jobs like Wi-Fi International and other important matters are done correctly. Using the first Worldwide Payments very first payroll payment option is a terrific initial action towards offering a comprehensive payroll service for workers worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and bank accounts essential for worldwide payroll are essential factors in attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things don't go as planned. Eventually, we do not do it for the appreciation.
anyhow 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 simple as possible for everybody that's associated with those processes and also so think of sorry I'm simply I was just gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task attempting to clean all those up for sure oh definitely 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 attempt to look through them and really see what was going on and sort of shot to get back to everybody so moving on look why do business select to primary separate checking account there are businesses out there doing precisely this for particular nations and I've operated in an organization or many businesses doing precisely that I can say it does not always feel effective and it does develop more work I understand we're not deliberately doing that we're not developing extra work for anybody where we don't need to and anyone that's handling that procedure 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 think lots of factors one is it's the requirement I think people have got so utilized to we need a new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I think this is a procedure that requires taking a look at it requires changing however ultimately people are extremely stuck with what they recognize
with right um change is a challenging thing we all do not like change um so I believe it's simply 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 comprehend certainly the benefits of having maintaining numerous bank accounts however there's a big quantity of complexity chooses setting up a checking account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for private individuals so the intricacy is substantial but I think the honest response is modification um individuals have not been able to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change but we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to monitor and this method does posture several challenges um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you deserve a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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