Find out more about Papaya Global Hours Worked Report ... 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 actually obtained a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and secure and trusted technique of making payments to our 10,000 employees worldwide.}
The advanced global payroll management app streamlines my payroll process, conserving me a considerable quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
Staff member Portal
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to international staff members no matter the variety of employees in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, develop local accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall work costs distributed per area, total work expenses per cycle and far more.
Worldwide, I have shown management and tactical knowledge in assisting large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as mentioned by Mark. My role includes handling and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for most prominent business in the world we provide payroll payments and workforce management to all worker enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good night depending on where you remain in the world it's lovely 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 market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've kind of had a range of different roles on the company side and likewise on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately 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 sort of like see where everyone comes from and I actually 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 raining here it's really extremely bleak and I wish I was somewhere else at this moment in time all right so let's get going 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 business keep different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession 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 safely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in sufficient in one nation but when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most notably policies compliance data security and banking rules then there are the sheer numbers they add additional intricacy the worldwide Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll design there's typically a frustrating variety of various systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or really very fundamental there's no genuine 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 often with pen and paper and that just blows my mind whenever I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that gives me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of an image they see a lack of presence also reaches payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of global organizations 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 errors are due to time reporting bad HCM data information entry errors badly interacted hires and terminations in addition to absence management and system setups and after that when you round all of it off and the information is shipped to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they rely on the needed numerous procedures 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 making payments 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 consisted of best 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 nation there's payment time frames 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 client's own in-country account so there's intricacy any place you look ideal eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble very payments no if however some infants 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 recognition that payroll payments are absolutely essential and innovation is permitting us to kind of progress with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely vital that payroll and financing teams work closer together than ever um I'm constantly astonished when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession 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 typically split and cut up um eventually 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 also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to add to type of the level of intricacy there's increasingly more benefits being organ or being provided by organizations throughout the world so again you're simply looking to include a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real difficulties or genuine tough sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding info into the next function as it were that's really 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 need to produce additional handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an age that you know that we are operating in today there is no reason we are still making this as hard as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any business has from a cost perspective from an effect point of view on workers it is absolutely critical 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 greatest destructive impact on people's wellness and numerous other aspects if people aren't paid uh I've constantly been impressed entering into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle all of us find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done correctly so leveraging the first International Payments very first payroll payment option is a terrific initial step um supplying an end-to-end payroll service for your staff members globally again I think is another huge um process again aligning and ensuring you have standardization International processes all of those things are definitely essential to success success of organizations and lowering the number of tools platforms and checking account they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I do not think any of us are actually doing that for for the thanks
anyway we know how how essential 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 easy as possible for everybody that's associated with those procedures and also so imagine sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and in fact see what was going on and type of shot to return to everybody so moving on appearance why do business pick to main different bank accounts there are services out there doing precisely this for specific nations and I've worked 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 deliberately doing that we're not developing additional work for anyone where we don't have to and any person that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I believe people have got so utilized to we require a new bank account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have embraced and continue to do over years and years passed by to contribute to that individuals 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 range I believe this is a process that requires taking a look at it requires changing but eventually people are extremely stuck to what they recognize
with ideal um change is a difficult thing we all don't like change um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having preserving numerous checking account however there's a huge amount of complexity chooses establishing a bank account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for private people so the intricacy is substantial but I think the sincere answer is change um individuals haven't been able to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be determined to be the next Century approximately there is a lot to keep an eye on and this approach does pose numerous challenges um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you should have a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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