Find out more about Papaya Global Bureau Manager Download ... 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 gotten a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a protected and trusted approach of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Worker Portal supplies staff members with the capability to access and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to international employees no matter the number of employees in the company. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, develop regional accounts and have a minimum number of workers.
The HR abilities offered by International HR include different functions such as monitoring holiday time, guaranteeing compliance, facilitating the process of inviting brand-new staff members and bidding farewell to leaving ones, using a protected online platform for keeping workers' files, and offering assistance for work permit treatments in case your employees require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total employment costs dispersed per location, overall work costs per cycle and far more.
environments across the globe I supplied leadership 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 clients and solutions in addition to acting as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a satisfaction to fulfill 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 years of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've kind of had a variety of different functions on the service provider side and also on the vendor side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or so to join we all 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 already simply to hear where everyone is um it's nice to to sort of like see where everybody 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 very very uninspiring and I wish I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why business keep separate
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most notably regulations compliance data security and banking guidelines then there are the sheer numbers they include further complexity the international Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals 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 globe in the traditional payroll model there's typically a frustrating number of various systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in large quantities and or extremely extremely standard there's no real consistency framework we're residing in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which 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 just 11 of businesses say they have Workforce data in real time that's another number that gives me sleep deprived nights and rather honestly the more an organization invests in worldwide payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide companies have expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes improperly interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is delivered to the incorrect location the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they rely on the essential several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're making payments to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't 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 nation there's payment timespan there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is definitely important however all over you look with payroll payment they resemble extremely payments no if however some babies 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 definitely essential and technology is permitting us to type of move on with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely vital that payroll and financing teams work more detailed together than ever um I'm always astonished when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to contribute to type of the level of complexity there's more and more advantages being organ or being used by businesses across the world so again you're just aiming to include more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine difficulties or genuine tough kind of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would certainly state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding details into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to develop extra handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any company has from a cost point of view from an impact viewpoint on staff members it is definitely vital 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 biggest harmful impact on individuals's well-being and lots of other elements if people aren't paid uh I've constantly been amazed entering this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle we all hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe 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 stuff is definitely important that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment option is a fantastic initial step um supplying an end-to-end payroll service for your employees worldwide again I think is another big um process again aligning and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of organizations and decreasing the variety of tools platforms and bank accounts they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know how how important 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 procedures and likewise so think of sorry I'm simply I was just gon na say think of 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 discussing numerous thousands potentially Millions picture getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task attempting to clean up all those up for sure oh absolutely 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 try to check out them and really see what was going on and type of try to return to everybody so moving on look why do business choose to primary different checking account there are services out there doing exactly this for specific countries and I've worked in a business or numerous businesses doing exactly that I can state it doesn't always feel effective and it does produce more work I know we're not intentionally doing that we're not developing additional work for anyone where we don't have 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 numerous reasons one is it's the standard I think people have actually got so used to we need a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a procedure that needs looking at it needs altering however ultimately individuals are really stuck with what they're familiar
with ideal um modification is a hard thing we all don't like change um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having maintaining multiple savings account but there's a substantial amount of intricacy opts for establishing a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private people so the complexity is huge however I believe the sincere answer is change um individuals haven't been able to alter or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we've always 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 understand what might nearly be determined to be the next Century or so there is a lot to monitor and this method does pose a number of difficulties um so Johnny could you inform us about those difficulties yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your achievements.
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