Find out more about Papaya Global Xero Payroll Integration ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe 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 considerable quantity of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Staff member Website provides workers with the capability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits packages to worldwide workers no matter the variety of staff members in the business. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source regional advantages providers in every country, produce local accounts and have a minimum number of employees.
The HR abilities offered by International HR encompass numerous functions such as monitoring vacation time, making sure compliance, facilitating the process of welcoming brand-new employees and bidding goodbye to departing ones, providing a secure online platform for saving workers' documents, and offering support for work allow treatments in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall work costs distributed per area, total work costs per cycle and much more.
Globally, I have shown management and tactical proficiency in guiding massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role involves managing and developing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a pleasure to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of various functions on the service provider side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely uninspiring and I wish I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex challenge for services running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, find out how business anticipate payroll expenses to optimize working capital, and discover how improving international payroll payments can change them from a difficult job into a strategic asset.
Handling payroll worldwide is a difficult task due to different guidelines, compliance requirements, information security issues, and banking guidelines. The sheer number of staff members and services contributes to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically lead to manual procedures, information silos, and a lack of combination, leading to disparities and ineffectiveness. Regardless of living in an age of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to provide insights and options to simplify and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a service spends on global payroll the less of a picture they see a lack of presence also encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide companies have revealed that they do not 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 errors badly communicated hires and terminations as well as lack management and system setups and after that when you round all of it off and the information is delivered to the wrong location the average expense of an international 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 essential multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're paying to staff members or otherwise that's a good question I always throw this back and state what is it what doesn't require to be included right and what does
it need to be thought of there's differing 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 have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look best eventually constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like extremely payments no if however some children 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 recognition that payroll payments are absolutely fundamental and technology is enabling us to type of move on with that it likewise also to add to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely imperative that payroll and finance groups work better together than ever um I'm always impressed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they split the payroll payment from computation 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 also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more essential to contribute to sort of the level of complexity there's a growing number of advantages being organ or being used by services across the world so once again you're simply wanting to add a growing number of payments to this already complicated landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real difficulties or real challenging kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of years I would absolutely say that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we operate in they simply make them more timely they make them less effective 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 why we are still making this as difficult as it needs to be agreed and rightly as you said payroll is the single biggest liability that any business has from an expense perspective from an impact viewpoint on employees it is absolutely vital that it's done correctly and on time so what we suggest 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 wellness and numerous other elements if individuals aren't paid uh I have actually constantly been surprised coming into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is a great first step um supplying an end-to-end payroll solution for your employees globally once again I believe is another substantial um procedure again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of companies and minimizing the variety of tools platforms and bank accounts they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're indicated to be um I do not think any of us are actually doing that for for the thanks
anyhow we know 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 simple as possible for everyone that's associated with those procedures and also so picture sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and really see what was going on and sort of shot to get back to everybody so proceeding look why do companies pick to main separate checking account there are companies out there doing precisely this for specific nations and I have actually operated in a company or many companies doing exactly that I can say it does not constantly feel effective and it does create more work I know we're not purposely doing that we're not developing extra work for any person where we do not need 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 lots of factors one is it's the requirement I believe people have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I think this is a process that needs taking a look at it requires altering however ultimately individuals are very stuck with what they're familiar
with best um modification is a difficult thing all of us don't like change um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having keeping several bank accounts however there's a huge amount of intricacy goes with establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private individuals so the complexity is substantial but I think the honest answer is change um people haven't had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter however we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what could almost be identified to be the next Century or two there is a lot to keep an eye on and this method does position a number of obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you deserve a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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