Find out more about Papaya Global Manual ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and secure and trusted method of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Employee Website offers employees with the ability to access and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global assists business provide competitive benefits packages to worldwide employees no matter the variety of workers in the company. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local advantages companies in every country, produce regional accounts and have a minimum variety of workers.
The HR abilities supplied by Worldwide HR incorporate numerous functions such as keeping track of holiday time, making sure compliance, assisting in the process of welcoming brand-new workers and bidding goodbye to departing ones, providing a secure online platform for storing workers' documents, and providing assistance for work allow procedures in case your employees need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total work expenses dispersed per location, total employment costs per cycle and far more.
environments around the world I offered management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise customers and services in addition to functioning as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of various roles on the service provider side and also on the vendor side from a payroll point of view 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 approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly 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 raining here it's really extremely gloomy and I want I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business keep separate
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of keeping different checking account for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of factors most significantly policies compliance information security and banking rules then there are the sheer numbers they include additional intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's estimated 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 organizations and growing all doing their own thing around the globe in the standard payroll design there's frequently an overwhelming number of different systems leading to lengthy manual processes and silos the variety of Integrations could be non-existent in large quantities and or very really basic there's no genuine consistency framework we're residing in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a company invests in worldwide payroll the less of a photo they see a lack of exposure also encompasses payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide businesses have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations along with lack management and system configurations and after that when you round it all off and the information is shipped to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they count on the essential several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges organization face when they're making payments to employees or otherwise that's a great concern 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 details so the length of an eye band a swift an account number routing code per country 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 need to pay from the client's own in-country account so there's intricacy wherever you look best eventually developing a knowledge base is definitely vital however all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and innovation is enabling us to sort of move on with that it likewise also to contribute to that payroll and finance require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely essential that payroll and finance groups work more detailed together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals any place they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on well-being and the payment landscape is ending up being increasingly complex. Companies are constantly introducing new advantages and payment choices, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can cause inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's technologically sophisticated period, there's no justification for maintaining cumbersome treatments. Payroll, the company's biggest cost, must be processed correctly and on time. Even slight delays can negatively impact workers' wellness and have far-reaching effects. Therefore, it's crucial to focus on accurate and timely payments.
payroll group get um so I'm unsure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle all of us hear about it when it fails everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this things is done properly so leveraging the first International Payments first payroll payment service is a fantastic first step um offering an end-to-end payroll option for your staff members internationally once again I think is another huge um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely crucial to success success of companies and reducing the number of tools platforms and savings account they require for their Global 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 had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone rather where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyway we know 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 easy as possible for everyone that's involved in those procedures and likewise so imagine 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'm sure we're speaking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and really see what was going on and sort of shot to return to everyone so carrying on appearance why do companies choose to main separate bank accounts there are businesses out there doing precisely this for specific countries and I have actually operated in a service or many services doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not developing extra work for anybody where we don't have to and anyone 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 amount that we are I believe lots of reasons one is it's the requirement I think people have actually got so used to we require a brand-new bank 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 believe it's simply been the standard and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I believe this is a process that requires looking at it requires altering however ultimately people are extremely stuck to what they recognize
with right um change is a hard thing all of us don't like modification um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving several checking account however there's a substantial quantity of complexity chooses setting up a savings account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is huge but I believe the sincere response is change um individuals haven't had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to keep track of and this approach does present numerous difficulties um so Johnny might you tell us about those challenges yeah of course so there's a range 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 seems like our CFO has actually acquired another CFO, and with this boosted capability, I have successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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