Find out more about Papaya Global Ukraine ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to managing payments. This offers us with a secure and dependable method of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Employees have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business offer competitive benefits bundles to global workers regardless of the variety of employees in the company. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional benefits service providers in every nation, develop local accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall work costs dispersed per area, overall work expenses per cycle and much more.
environments across the globe I offered management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise customers and solutions along with serving as a consultant for those of you that do not understand who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential companies on the planet we supply payroll payments and workforce management to all worker types in 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 present yourself of course thank you good morning excellent afternoon great night depending upon where you are in the world it's charming to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've sort of had a range of different roles on the service provider side and also on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody comes 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 very extremely bleak and I want I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies maintain different
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially helpful for international companies with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of preserving different savings account for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in adequate in one country but when you're doing it globally it's next level and Beyond it becomes complicated for a range of reasons most significantly regulations compliance information security and banking rules then there are the sheer numbers they include more complexity the international Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll model there's often an overwhelming variety of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in large amounts and or really really basic there's no genuine consistency framework we're residing in an age of tech however payroll has actually been slow 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 believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization spends on worldwide payroll the less of a photo they see a lack of presence likewise extends to payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal almost half of international businesses have 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 bad HCM information data entry errors badly interacted hires and terminations along with lack management and system setups and then when you round everything off and the data is shipped to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they count on the needed multiple 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 organization face when they're paying to workers or otherwise that's a good concern I always throw this back and state what is it what does not need to be consisted of best and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is definitely important but everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you 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 fundamental and technology is allowing us to sort of progress with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely important that payroll and financing teams work better together than ever um I'm always astonished when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market 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 people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on wellness and the compensation landscape is ending up being significantly intricate. Companies are continually presenting new benefits and payment options, which contributes to the overall complexity. Big corporations often divide their payroll and payment processing into different teams, which can cause inefficiencies and bottlenecks. In my opinion, this does not have to hold true. In today's highly advanced period, there's no reason for maintaining troublesome treatments. Payroll, the company's biggest expenditure, need to be processed correctly and on time. Even minor delays can negatively affect staff members' well-being and have far-reaching repercussions. For that reason, it's vital to focus on precise and timely payments.
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just observe when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally also. For that reason, it is essential to make sure that tasks like Wi-Fi Global and other vital matters are done properly. Utilizing the very first Global Payments first payroll payment option is a great preliminary action towards supplying an extensive payroll option for staff members worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and bank accounts essential for worldwide payroll are crucial consider achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things don't go as prepared. Eventually, we don't do it for the thankfulness.
anyway we understand how how crucial a function 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 easy as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm just I was simply gon na say picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job trying to clean 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 require days of the week to try to look through them and in fact see what was going on and sort of try to get back to everyone so carrying on appearance why do business pick to main different checking account there are businesses out there doing exactly this for specific countries and I have actually operated in a company or many businesses doing precisely that I can say it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not producing extra work for anyone where we don't need to and any person that's managing 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 quantity that we are I think many factors one is it's the standard I believe individuals have actually got so utilized to we need a brand-new bank account we open an entity and appropriately 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 just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I believe this is a process that requires looking at it requires changing but eventually individuals are really stuck to what they're familiar
with ideal um change is a challenging thing we all do not like modification um so I think it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having maintaining numerous checking account however there's a substantial amount of complexity chooses establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private people so the complexity is big but I believe the sincere response is modification um individuals haven't had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter however we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century or two there is a lot to keep track of and this method does present numerous challenges um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your achievements.
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