Find out more about What Is The Papaya Global Payroll Scam ... 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 actually obtained a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a protected and trustworthy approach of making payments to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app enhances my payroll process, conserving me a considerable amount of time each month. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Worker Website provides employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global helps business offer competitive advantages packages to worldwide staff members regardless of the variety of employees in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local advantages suppliers in every country, develop local accounts and have a minimum variety of employees.
The HR capabilities supplied by Worldwide HR incorporate numerous functions such as monitoring getaway time, ensuring compliance, helping with the process of inviting brand-new employees and bidding goodbye to leaving ones, offering a safe and secure online platform for keeping workers' files, and supplying support for work allow procedures in case your employees need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall work expenses dispersed per location, total work costs per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work across business managing and structure external relationships supporting Business clients and options along with serving as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually kind of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another number of uh well among 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 rather fascinating 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 actually 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 extremely really gloomy and I wish I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business maintain separate
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is especially useful for international companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of preserving separate checking account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also 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 throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how business precisely forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of factors most significantly regulations compliance information security and banking rules then there are the sheer numbers they include additional complexity the worldwide Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the conventional payroll design there's often a frustrating number of different systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in big amounts and or very extremely fundamental there's no real consistency structure we're living 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 and that just blows my mind whenever I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite honestly the more a company invests in global payroll the less of a picture they see an absence of exposure also reaches payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide companies have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors badly interacted hires and terminations as well as absence management and system setups and after that when you round everything off and the data is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they depend on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're paying to staff members or otherwise that's a good concern I always throw this back and say what is it what does not need to be included ideal and what does
it need to be considered 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 abilities 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 client's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is absolutely critical however 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 sort 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 essential and technology is allowing us to kind of progress with that it also also to contribute to that payroll and finance need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and finance groups work closer together than ever um I'm constantly impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often 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 anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more essential to contribute to type of the level of intricacy there's more and more benefits being organ or being offered by organizations across the world so again you're simply looking to include a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real challenges or real difficult kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of years I would absolutely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding details into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we need to produce additional handoffs at the same times that we run in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you know that we are working in today there is no reason that we are still making this as challenging as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from a cost perspective from an effect point of view on workers it is definitely vital that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant harmful impact on individuals's wellness and numerous other aspects if people aren't paid uh I have actually constantly been amazed entering this Market sort of the last five to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only notice when things fail. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's perceived externally as well. For that reason, it is essential to ensure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Using the very first Global Payments very first payroll payment solution is an excellent preliminary step towards providing a comprehensive payroll service for workers worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and bank accounts essential for global payroll are key consider attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we know how how essential a role 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 simple as possible for everybody that's associated with those procedures and likewise so envision sorry I'm simply I was simply gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job attempting to clean up 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 in fact see what was going on and sort of try to get back to everybody so carrying on appearance why do business select to primary separate savings account there are organizations out there doing precisely this for specific nations and I have actually operated in a service or many companies doing precisely that I can say it doesn't always feel efficient and it does develop more work I know we're not purposely doing that we're not developing extra work for anybody where we do not have to and anyone that's handling that process 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 appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I think this is a procedure that requires looking at it needs altering but ultimately individuals are extremely stuck to what they recognize
with ideal um change is a difficult thing all of us don't like modification um so I think 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 things um I comprehend clearly the benefits of having maintaining several bank accounts however there's a big quantity of complexity goes with setting up a bank account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for specific people so the complexity is substantial but I think the honest answer is modification um people have not had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or two there is a lot to track and this technique does position several challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this boosted capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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