Find out more about Papaya Global Fps ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to managing payments. This offers us with a safe and secure and reliable technique of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Worker Website
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and employment documents. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to worldwide staff members despite the number of workers in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source local benefits companies in every country, develop regional accounts and have a minimum number of employees.
The HR capabilities supplied by Worldwide HR encompass different functions such as monitoring vacation time, ensuring compliance, facilitating the procedure of welcoming new staff members and bidding farewell to leaving ones, using a safe online platform for saving workers' documents, and providing assistance for work permit procedures in case your employees need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work costs distributed per place, total work expenses per cycle and much more.
environments around the world I supplied management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout business managing and structure external relationships supporting Business customers and solutions along with serving as a consultant for those of you that don't understand 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 offer payroll payments and workforce management to all worker enters over 160 countries I am pleased to state 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 great afternoon great night depending upon where you remain in the world it's beautiful to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I've kind of had a variety of different roles on the company side and likewise on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it is 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 extremely gloomy and I wish 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 managing Global payroll why companies maintain different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the worldwide 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 improving Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of reasons most notably regulations compliance data security and banking rules then there are the sheer numbers they add further complexity the worldwide Workforce is presently 3 and a half billion people 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 businesses and growing all doing their own thing all over the world in the traditional payroll design there's often a frustrating number of different systems causing time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely extremely standard there's no real consistency framework we're residing in an age of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a company spends on worldwide payroll the less of a picture they see a lack of presence also reaches payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide services have actually expressed 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 poor HCM data data entry errors improperly communicated hires and terminations in addition to lack management and system configurations and then when you round all of it off and the information is shipped to the wrong location the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they depend on the necessary multiple processes systems and partners it is simply 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 paying to employees or otherwise that's a great question I constantly throw this back and say what is it what doesn't require to be included right and what does
it need 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 customer's own in-country account so there's complexity any place you look ideal ultimately constructing a knowledge base is definitely critical but all over you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link in 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 enabling us to type of progress with that it also as well to contribute to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is definitely important that payroll and financing groups work better together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate 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 typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere 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 important to contribute to type of the level of intricacy there's more and more advantages being organ or being offered by businesses across the world so again you're just looking to include a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real difficulties or real challenging kind of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would definitely say that the larger a service 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 teams feeding info into the next function as it were that's in fact managing the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we need to develop additional handoffs in the processes that we run in they just make them more prompt they make them less effective and they do not make them what they need to be in in a period of tech and an age that you understand that we are working in today there is no reason we are still making this as tough as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from an expense perspective from an effect point of view on workers it is absolutely vital that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on individuals's well-being and lots of other aspects if individuals aren't paid uh I've always been surprised entering 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 sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle we all find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done correctly so leveraging the first International Payments first payroll payment solution is an excellent primary step um supplying an end-to-end payroll solution for your staff members globally again I think is another huge um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of companies and minimizing the number of tools platforms and checking 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've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I don't believe any of us are in fact doing that for for the thanks
anyway we understand how how essential a role 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 everyone that's associated with those processes and also so envision sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task trying 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 check out them and really see what was going on and type of shot to get back to everybody so carrying on appearance why do companies select to primary different savings account there are companies out there doing exactly this for specific countries and I've operated in an organization or lots of services doing precisely that I can say it doesn't constantly feel effective and it does produce more work I know we're not deliberately doing that we're not producing extra work for any person where we don't need to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of factors one is it's the requirement I believe people have actually got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have embraced and continue to do over years and years passed by to contribute 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 range I believe this is a procedure that needs looking at it requires altering but eventually people are very stuck with what they're familiar
with best um change is a challenging thing all of us do not like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having preserving several checking account however there's a huge quantity of complexity goes with setting up a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is big however I believe the honest response is change um individuals have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change however we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century or two there is a lot to track and this technique does posture several difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I recently made a modification to our Business 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 gotten another CFO, and with this improved ability, I have successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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