Find out more about Papaya Global Email Settings ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and trusted method of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app streamlines my payroll process, conserving me a considerable amount of time monthly. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Worker Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive advantages plans to global workers regardless of the variety of staff members in the business. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the requirement to source local benefits suppliers in every country, create regional accounts and have a minimum variety of staff members.
The HR capabilities offered by Global HR include numerous functions such as keeping an eye on holiday time, guaranteeing compliance, facilitating the process of inviting new staff members and bidding farewell to leaving ones, providing a safe online platform for storing employees' documents, and offering support for work permit procedures in case your workers need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total work costs dispersed per place, overall employment expenses per cycle and a lot more.
environments around the world I provided leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business handling and structure external relationships supporting Enterprise customers and solutions along with serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for most influential companies worldwide we supply payroll payments and workforce management to all staff member types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon excellent night depending on where you are in the world it's charming to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've kind of had a range of different roles on the company side and likewise on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting 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 comes from and I really 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 gloomy and I want I was elsewhere at this moment in time okay 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 managing Global payroll why business maintain different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially beneficial for global companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic asset for payroll executives. We will also supply 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 stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how business properly anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one nation however when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most significantly guidelines compliance data security and banking rules then there are the sheer numbers they add additional complexity the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the conventional payroll model there's typically a frustrating number of various systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in big quantities and or really very fundamental there's no genuine consistency structure we're residing in an era of tech however payroll has been sluggish 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 give you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of an image they see a lack of presence also encompasses payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of global services have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors improperly interacted hires and terminations along with lack management and system configurations and after that when you round everything off and the data is delivered to the incorrect place the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they count on the needed multiple procedures 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 obstacles business face when they're making payments to staff members or otherwise that's a great question I always toss this back and say what is it what does not require to be consisted of ideal and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities 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 customer's own in-country account so there's complexity any place you look ideal eventually constructing a knowledge base is definitely vital but all over you look with payroll payment they resemble very 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 absolutely essential and innovation is permitting us to sort of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance groups work closer together than ever um I'm constantly impressed when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on wellness and the payment landscape is ending up being significantly complex. Businesses are constantly introducing new benefits and payment choices, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inefficiencies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technologically sophisticated period, there's no reason for preserving cumbersome procedures. Payroll, the business's most significant cost, must be processed properly and on time. Even slight delays can adversely impact employees' wellness and have significant consequences. Therefore, it's important to focus on accurate and prompt payments.
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only discover when things go wrong. Nevertheless, when things go right, it's seen as simply a routine job. This is how it's viewed externally as well. Therefore, it is important to ensure that tasks like Wi-Fi International and other crucial matters are done properly. Using the very first Global Payments first payroll payment service is a great preliminary step towards offering a comprehensive payroll service for staff members worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and bank accounts essential for international payroll are key factors in achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as planned. Eventually, we do not do it for the gratitude.
anyway we understand how how crucial a function 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 everybody that's involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially 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 intriguing job trying to clean 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 require days of the week to attempt to look through them and in fact see what was going on and sort of shot to get back to everybody so carrying on look why do companies choose to primary separate savings account there are services out there doing precisely this for specific nations and I've operated in a service or lots of businesses doing precisely that I can state it doesn't always feel efficient and it does create more work I understand we're not intentionally doing that we're not creating extra work for anyone where we do not need to and any person that's handling 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 amount that we are I believe numerous factors one is it's the requirement I think individuals have got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I think this is a procedure that needs looking at it requires altering but eventually people are really stuck to what they're familiar
with right um change is a difficult thing we all do not like modification um so I believe it's just type of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having keeping numerous bank accounts but there's a substantial quantity of complexity chooses establishing a savings account maintaining it guaranteeing it can send International transfers ensuring it's established with the right user accesses for individual individuals so the intricacy is huge but I think the truthful response is modification um individuals have not been able to change or have not had always the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to alter however we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does posture numerous difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you deserve a corner workplace with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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