Find out more about Papaya Global Leavers ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a secure and trusted technique of making payments to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, conserving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Employee Website supplies staff members with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to international employees despite the variety of workers in the company. The company can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local advantages suppliers in every country, produce regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, overall employment expenses distributed per location, total employment expenses per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise clients and services along with functioning as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for a lot of prominent companies worldwide we supply payroll payments and labor force management to all employee 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 obviously thank you good morning great afternoon excellent night depending on where you are in the world it's charming to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually sort of had a range of various roles on the service provider side and likewise on the vendor side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days 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 type of like see where everybody comes 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 very uninspiring and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies preserve different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially beneficial for international companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in enough in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most significantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include more 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 currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the traditional payroll model there's often a frustrating number of different systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or extremely extremely fundamental there's no real consistency framework we're living in a period of tech however payroll has actually been sluggish 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 think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that gives me sleepless nights and rather frankly the more an organization invests in global payroll the less of a photo they see a lack of presence likewise reaches payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of global businesses 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 due to time reporting poor HCM data information entry mistakes inadequately interacted hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is shipped to the incorrect location the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they depend on the required numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs 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 state what is it what doesn't need to be consisted of ideal and what does
it require to be considered there's varying 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 have 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 best eventually constructing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 definitely fundamental and innovation is enabling us to sort of move forward with that it likewise too to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup processes is absolutely vital that payroll and financing groups work closer together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more essential to add to kind of the level of complexity there's increasingly more advantages being organ or being offered by businesses across the world so once again you're simply seeking to include more and more payments to this already complex landscape so if you kind of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real challenges or genuine difficult sort of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we require to produce additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any service has from a cost perspective from an effect viewpoint on workers it is definitely important that it's done properly and on time so what we suggest 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 result on people's wellness and many other factors if individuals aren't paid uh I have actually always been surprised entering this Market kind of the last five to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only discover when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. For that reason, it is essential to ensure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the very first Global Payments first payroll payment solution is a fantastic preliminary step towards offering an extensive payroll option for staff members worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and savings account required for global payroll are key consider attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyhow we know how how essential 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 easy as possible for everybody that's associated with those procedures and likewise so think of sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting to clean up 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 check out them and actually see what was going on and type of shot to get back to everybody so moving on appearance why do business pick to main different checking account there are companies out there doing exactly this for particular nations and I have actually operated in an organization or lots of companies doing precisely that I can say it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anybody where we don't need to and anybody that's handling 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 amount that we are I believe many factors one is it's the standard I believe individuals have got so used to we need a new checking account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply 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 lots of other methods um to to sort of do it so I think there's a variety I think this is a procedure that needs taking a look at it requires changing but ultimately people are really stuck to what they recognize
with best um change is a difficult thing all of us do not like modification um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining multiple checking account but there's a huge amount of complexity goes with establishing a savings account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual people so the complexity is substantial however I think the honest answer is modification um individuals have not been able to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a checking account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to change but we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century or so there is a lot to track and this method does present numerous difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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