Find out more about Papaya Global Do You Know Which Payroll Installation ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a secure and reliable technique of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Worker Portal provides employees 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 offered in different languages.
Benefits Administration
Papaya Global assists companies use competitive benefits packages to international employees despite the variety of staff members in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source regional benefits suppliers in every country, develop regional accounts and have a minimum number of staff members.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall employment expenses dispersed per place, overall work expenses per cycle and much more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise clients and options along with functioning as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We concentrate on providing payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a pleasure to meet you and thank you for your important time. As Ian pointed out, 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 seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've type of had a variety of various roles 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 everyone alright thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very really bleak and I want I was elsewhere 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 challenge years of handling International payroll why business preserve different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is particularly helpful for international companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different savings account for payroll in different countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming 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 precisely effectively safely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how companies accurately 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 sufficient in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most notably guidelines compliance information security and banking guidelines then there are the large numbers they include more intricacy the global 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 people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll design there's typically a frustrating variety of different systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in big quantities and or really extremely fundamental there's no genuine consistency framework we're residing in a period 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 often with pen and paper and that just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force information in real time that's another number that offers me sleepless nights and quite honestly the more a service spends on global payroll the less of a picture they see a lack of presence also reaches payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of global companies have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes badly interacted hires and terminations as well as absence management and system setups and then when you round it all off and the information is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they count on the necessary multiple procedures 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 difficulties company face when they're making payments to staff members or otherwise that's a great 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 thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 customer's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble incredibly payments no if however 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 think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to kind of move on with that it likewise too to add to that payroll and finance require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely necessary that payroll and finance groups work closer together than ever um I'm constantly amazed when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the settlement landscape is becoming progressively intricate. Services are constantly introducing brand-new advantages and payment options, which adds to the overall complexity. Big corporations frequently divide their payroll and payment processing into separate teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technologically advanced era, there's no validation for preserving cumbersome treatments. Payroll, the business's biggest expenditure, should be processed properly and on time. Even minor delays can negatively affect employees' well-being and have significant repercussions. For that reason, it's critical to prioritize precise and timely payments.
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific 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. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally also. Therefore, it is essential to make sure that tasks like Wi-Fi Worldwide and other essential matters are done properly. Utilizing the first Worldwide Payments first payroll payment solution is a great initial step towards offering a comprehensive payroll option for employees worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and bank accounts essential for worldwide payroll are essential factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyhow 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 procedures and also so imagine sorry I'm just I was just gon na state imagine the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job attempting to clean all those up for sure oh definitely I can't imagine 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 really see what was going on and type of try to return to everyone so moving on look why do business choose to main different checking account there are services out there doing exactly this for particular nations and I have actually worked in a company or lots of businesses doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating additional work for anyone where we don't have to and anyone that's handling that process 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 lots of factors one is it's the requirement I believe individuals have actually got so used to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I think this is a procedure that requires taking a look at it needs changing however ultimately individuals are very stuck to what they're familiar
with right um modification is a tough thing all of us do not like modification um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having maintaining several savings account but there's a substantial quantity of complexity goes with establishing a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is huge however I think the sincere answer is modification um people haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to track and this approach does posture a number of challenges um so Johnny might 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 Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your achievements.
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