Find out more about Papaya Global Advance Pay ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to managing payments. This offers us with a protected and reliable approach of paying to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, conserving me a substantial amount of time every month. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
Staff member Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to international staff members no matter the variety of workers in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source regional advantages providers in every country, create regional accounts and have a minimum number of workers.
The HR capabilities supplied by Worldwide HR incorporate numerous functions such as monitoring holiday time, making sure compliance, helping with the procedure of inviting new workers and bidding farewell to departing ones, using a protected online platform for storing employees' documents, and providing assistance for work allow procedures in case your staff members require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total work expenses distributed per area, total work costs per cycle and a lot more.
environments around the world I supplied leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business handling and structure external relationships supporting Enterprise clients and services in addition to functioning as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a satisfaction 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 market, I have actually concentrated on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I have actually type of had a range of various functions on the provider side and likewise on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really very dreary and I want I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of keeping different checking account for payroll in different countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the worldwide 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 International payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most importantly policies compliance information security and banking guidelines then there are the sheer numbers they add more complexity the global Workforce is presently 3 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 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 worldwide in the traditional payroll model there's often a frustrating variety of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or really extremely standard there's no real consistency structure we're living in an era of tech but payroll has actually been sluggish 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 each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of a picture they see a lack of exposure likewise extends to payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of international companies have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes inadequately communicated hires and terminations in addition to absence management and system setups and after that when you round everything off and the information is delivered to the incorrect location the typical expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they count on the essential several processes systems and partners it is just not possible so Johnny from a payments viewpoint 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 a great concern I always throw this back and state what is it what does not need to be included ideal and what does
it need to be thought about there's differing Bank information 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 intricacy anywhere you look right ultimately developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is permitting us to type of move on with that it likewise as well to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely vital that payroll and finance groups work closer together than ever um I'm constantly amazed when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to contribute to sort of the level of complexity there's a growing number of advantages being organ or being used by companies across the world so once again you're simply looking to add more and more payments to this currently complex 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 genuine obstacles or real tough sort of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would certainly state that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things however you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create extra handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and a period that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any service has from a cost point of view from an effect viewpoint on staff members it is absolutely critical that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging effect on people's wellness and many other elements if people aren't paid uh I've always been impressed entering into this Market kind of the last five to ten years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only observe when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally as well. For that reason, it is important to guarantee that jobs like Wi-Fi International and other crucial matters are done correctly. Using the very first Worldwide Payments first payroll payment option is an excellent initial step towards supplying an extensive payroll solution for employees worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and savings account essential for worldwide payroll are crucial consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyway we know how how crucial 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 everyone that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na say envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean up 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 require days of the week to attempt to browse them and actually see what was going on and type of try to return to everybody so carrying on appearance why do companies pick to primary separate bank accounts there are companies out there doing exactly this for particular countries and I have actually operated in a company or lots of services doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not creating extra work for any person where we do not have to and any person that's dealing with that procedure 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 believe lots of factors one is it's the requirement I believe people have actually got so utilized to we need a brand-new bank account we open an entity and rightly so you need 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 actually adopted and continue to do over years and years gone past to add to that people 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 variety I believe this is a procedure that needs looking at it needs altering however eventually people are very stuck to what they're familiar
with ideal um change is a difficult thing all of us do not like change um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having keeping numerous bank accounts however there's a huge quantity of complexity chooses setting up a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for specific people so the intricacy is substantial but I believe the sincere answer is change um individuals have not had the ability to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to track and this method does present numerous obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your accomplishments.
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