Find out more about Papaya Global Review ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and trusted method of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Employee Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive benefits plans to international employees no matter the variety of workers in the business. The business 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, develop local accounts and have a minimum number of employees.
The HR abilities supplied by International HR incorporate various functions such as keeping an eye on holiday time, ensuring compliance, assisting in the procedure of welcoming brand-new staff members and bidding goodbye to departing ones, offering a secure online platform for saving workers' documents, and offering support for work permit treatments in case your employees require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, overall work costs distributed per place, total work expenses per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business managing and structure external relationships supporting Business customers and options in addition to serving as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for many prominent business in the world we supply payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon great night depending on where you are in the world it's beautiful to meet 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 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I've kind of had a variety of various functions on the company side and also on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds approximately 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 already just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's very extremely uninspiring and I want I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why business preserve different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll expenses to increase working capital and how streamlining Worldwide 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 ends up being complicated for a range of factors most notably regulations compliance data security and banking guidelines then there are the large numbers they include further intricacy the international Workforce is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll design there's frequently an overwhelming variety of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or really extremely basic there's no genuine consistency framework we're living in a period 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 whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly the more a business invests in global payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of global companies have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes badly communicated hires and terminations along with absence management and system setups and then when you round everything off and the information is shipped to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they rely on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges company face when they're paying to workers or otherwise that's an excellent concern I always throw this back and state what is it what does not need to be included right and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 customer's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is absolutely important but all over 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 look at the type of link in 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 type of progress with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely essential that payroll and finance groups work more detailed together than ever um I'm always astonished when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more important to contribute to sort of the level of complexity there's a growing number of advantages being organ or being provided by businesses throughout the world so again you're just looking to add more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real obstacles or real challenging sort of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would absolutely state that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding details into the next function as it were that's really handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we need to create additional handoffs at the same times that we run in they simply make them more timely they make them less efficient and they don't make them what they need to be in in a period 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 rightly as you said payroll is the single greatest liability that any organization has from an expense perspective from an effect perspective on staff members it is definitely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive impact on individuals's wellness and numerous other factors if people aren't paid uh I have actually constantly been astonished entering this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment solution is a great first step um supplying an end-to-end payroll option for your workers worldwide again I believe is another big um procedure once again aligning and ensuring you have standardization International processes all of those things are definitely key to success success of businesses and minimizing the number of tools platforms and checking account they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyway we understand 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 likewise so envision sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions picture getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task trying to clean all those up for sure oh definitely I can't envision 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 sort of shot to get back to everybody so carrying on look why do business pick to primary separate savings account there are businesses out there doing precisely this for particular nations and I have actually operated in a company or many organizations doing exactly that I can state it doesn't always feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating additional work for anyone where we don't need to and anybody that's dealing with that procedure 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 lots of factors one is it's the standard I think individuals have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a variety I think this is a process that needs taking a look at it requires changing but eventually people are very stuck with what they're familiar
with right um change is a difficult thing we all don't like modification um so I think it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having maintaining several checking account however there's a big quantity of complexity chooses setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is big however I think the truthful response is modification um people have not been able to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or two there is a lot to track and this method does present numerous difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I just did you switched our Enterprise 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 Global workers you are worthy of a corner workplace with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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