Find out more about Papaya Global Cloud Download ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and reputable technique of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Staff member Website offers staff members with the capability to access and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to global employees regardless of the number of employees in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every nation, create regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall employment expenses dispersed per area, overall employment costs per cycle and far more.
environments around the world I offered leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work across the business managing and structure external relationships supporting Business clients and solutions along with functioning as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential companies worldwide we supply payroll payments and workforce management to all worker enters over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon good night depending on where you are in the world it's lovely to fulfill 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 remained in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I've kind of had a range of various functions on the service provider side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join we all 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 already simply to hear where everyone 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 remains 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 really really bleak and I wish I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to conventional checking account for managing 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 maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely 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 companies properly anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in enough in one nation but when you're doing it globally it's next level and Beyond it becomes complex for a variety of reasons most notably policies compliance information security and banking guidelines then there are the large numbers they include further intricacy the international Workforce 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 individuals that number is currently 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 design there's frequently an overwhelming variety of different systems leading to lengthy manual procedures and silos the variety of Combinations could be non-existent in big amounts and or really extremely standard there's no real consistency framework we're residing in a period of tech but payroll has 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 whenever I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that's another number that gives me sleep deprived nights and rather frankly the more a service invests in international payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international companies have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors inadequately communicated 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 cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they count on the necessary several 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 obstacles service face when they're making payments to staff members or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be included right and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy any place you look right eventually developing a knowledge base is absolutely important but everywhere 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 take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to sort of progress with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely essential that payroll and finance groups work more detailed together than ever um I'm always surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to contribute to sort of the level of complexity there's increasingly more advantages being organ or being provided by organizations across the world so again you're simply seeking to include more and more payments to this already intricate landscape so if you type of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real obstacles or genuine difficult sort of pay uses to play to pay people I believe yeah I mean 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 teams doing one part of the task there are groups feeding details into the next function as it were that's actually managing the payment side of things but 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 produce additional handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single greatest liability that any business has from an expense viewpoint from an effect perspective on workers it is definitely vital that it's done properly 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 biggest damaging impact on people's wellness and many other factors if people aren't paid uh I've constantly been amazed entering into this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle all of us 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 likewise like why WI-Fi Global why all of this things is absolutely essential that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment service is a terrific first step um offering an end-to-end payroll option for your employees internationally once again I believe is another big um process again lining up and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of services and lowering the variety of tools platforms and savings account they need for their Global 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 had a hundred thousand of them within a payroll cycle do not anticipate 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 meant to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand 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 easy as possible for everybody that's involved in those procedures and also so think of sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and really see what was going on and sort of shot to return to everyone so moving on look why do business pick to primary different checking account there are companies out there doing precisely this for particular nations and I have actually worked in a service or numerous organizations doing precisely that I can state it does not always feel effective and it does develop more work I understand we're not deliberately doing that we're not producing extra work for any person where we don't have to and anybody that's dealing with that procedure 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 believe numerous factors one is it's the requirement I think individuals have actually got so utilized to we need a new savings account we open an entity and rightly so you need 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 standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I believe this is a process that requires looking at it needs changing however ultimately individuals are very stuck with what they're familiar
with best um modification is a challenging thing we all don't like change um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having keeping numerous savings account but there's a big quantity of complexity goes with establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for private people so the complexity is substantial but I believe the truthful response is modification um individuals have not been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is knowledge 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 taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century approximately there is a lot to keep track of and this approach does pose a number of obstacles um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this improved capability, I have successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your achievements.
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