Find out more about Papaya Global Add Mespapaya Globalto Payslip ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and reputable technique of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app streamlines my payroll process, conserving me a substantial quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Employee Website supplies staff members with the capability to access and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to international staff members regardless of the number of employees in the company. The company can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source regional benefits companies in every country, produce regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work costs distributed per location, total employment costs per cycle and a lot more.
Internationally, I have shown management and tactical know-how in assisting massive populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for overseeing payroll methods, as pointed out by Mark. My function involves managing and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for many influential business in the world we provide payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon great evening depending on 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 been in the payments market for over ten years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I've type of had a range of various roles on the company side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everybody another number of uh well among 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 interesting and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes 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 raining here it's really extremely gloomy and I wish I was somewhere else at this moment in time okay 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 keep different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different savings account for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in sufficient in one country but when you're doing it globally it's next level and Beyond it becomes intricate for a variety of factors most notably guidelines compliance information security and banking rules then there are the large numbers they include further intricacy the global Labor force is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll model there's frequently a frustrating variety of various systems leading to lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or very really basic there's no genuine consistency structure we're living in an era of tech but payroll has 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 simply blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization spends on worldwide payroll the less of an image they see an absence of exposure also reaches payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide organizations have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry mistakes inadequately interacted hires and terminations along with lack management and system configurations and then when you round all of it off and the data is shipped to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they rely on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be included ideal and what does
it require to be thought of there's varying Bank information 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 consumer's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is enabling us to kind of move on with that it also too to contribute to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work more detailed together than ever um I'm constantly surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the settlement landscape is ending up being increasingly intricate. Organizations are constantly presenting new benefits and payment choices, which adds to the general complexity. Big corporations typically divide their payroll and payment processing into different groups, which can cause ineffectiveness and bottlenecks. In my opinion, this does not have to be the case. In today's highly innovative era, there's no justification for maintaining troublesome treatments. Payroll, the company's greatest cost, should be processed properly and on time. Even slight hold-ups can adversely affect employees' wellness and have significant consequences. Therefore, it's important to focus on precise and timely payments.
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just see when things fail. However, when things go right, it's seen as simply a regular task. This is how it's perceived externally also. Therefore, it is important to ensure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Using the first International Payments very first payroll payment solution is an excellent preliminary action towards supplying a comprehensive payroll solution for staff members worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and bank accounts needed for worldwide payroll are crucial factors in accomplishing service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few complaints when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway we understand how how important a function 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 processes and also so envision sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and kind of try to get back to everyone so carrying on look why do business choose to primary separate bank accounts there are companies out there doing precisely this for specific countries and I've operated in a company or many companies doing precisely that I can say it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not producing additional work for anyone 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 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 standard I think people have actually got so used to we require a new bank account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other ways um to to type of do it so I think there's a range I think this is a process that needs taking a look at it requires changing but eventually people are extremely stuck with what they recognize
with ideal um change is a challenging thing we all don't like modification um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having keeping numerous bank accounts but there's a huge amount of intricacy opts for establishing a checking account keeping it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is substantial but I think the honest response is modification um people have not had the ability to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be identified to be the next Century approximately there is a lot to keep an eye on and this approach does position a number of difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a variety 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 closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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