Find out more about Papaya Global Password Protect Payslips ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and dependable method of paying to our 10,000 employees worldwide.}
The advanced worldwide payroll management app improves my payroll procedure, saving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
Staff member Website
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work files. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive benefits packages to global employees no matter the number of workers in the business. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source regional advantages companies in every country, develop local accounts and have a minimum variety of staff members.
The HR abilities supplied by International HR incorporate different functions such as keeping track of getaway time, guaranteeing compliance, facilitating the procedure of inviting brand-new staff members and bidding farewell to leaving ones, using a safe online platform for keeping employees' files, and offering assistance for work permit treatments in case your employees need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall employment expenses dispersed per place, overall work costs per cycle and far more.
Worldwide, I have demonstrated management and strategic proficiency in guiding large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for overseeing payroll methods, as mentioned by Mark. My function involves handling and developing external partnerships, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for the majority of influential companies on the planet we offer payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great night depending upon where you remain in the world it's lovely to satisfy you and thank you quite 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 specifically working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble 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 vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well among 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 currently simply to hear where everybody is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really very gloomy and I wish I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies preserve separate
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly useful for global companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical property 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 properly efficiently firmly and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in adequate in one nation but when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of factors most significantly policies compliance data security and banking guidelines then there are the large numbers they add additional intricacy the global Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the standard payroll model there's often a frustrating number of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or really very fundamental there's no real consistency structure we're living in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a business invests in international payroll the less of a picture they see a lack of exposure likewise extends to payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide companies have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes improperly communicated hires and terminations along with lack management and system setups and after that when you round it all 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 cash around the globe payroll and payments do not run efficiently if they count on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're paying to workers or otherwise that's a good question I constantly throw this back and state what is it what doesn't require to be included ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 customer's own in-country account so there's intricacy wherever you look ideal eventually building a knowledge base is absolutely vital however everywhere 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 take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is allowing us to type of move on with that it likewise too to add to that payroll and financing require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and financing groups work better together than ever um I'm constantly amazed when individuals say I've divided payroll and payment um if you walk 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 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 information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more essential to contribute to kind of the level of complexity there's a growing number of advantages being organ or being provided by companies throughout the world so once again you're simply aiming to include more and more payments to this currently intricate landscape so if you type 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 genuine challenges or genuine challenging sort of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a couple of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding details 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 does not necessarily require to be the case you know long gone are the times where we require to produce extra handoffs at the same times that we operate in they just make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason why we are still making this as challenging as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any business has from an expense perspective from an effect point of view on employees it is absolutely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the biggest detrimental impact on individuals's wellness and lots of other elements if people aren't paid uh I have actually constantly been surprised coming into this Market type of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has 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 individuals just discover when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's perceived externally also. Therefore, it is essential to ensure that jobs like Wi-Fi International and other crucial matters are done properly. Utilizing the first International Payments first payroll payment service is an excellent preliminary step towards providing a comprehensive payroll solution for employees worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and checking account required for international payroll are key consider attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyway we understand how how crucial 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 associated with those processes and likewise so think of sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see the number of 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 envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and really see what was going on and kind of try to return to everyone so proceeding look why do business choose to primary separate savings account there are businesses out there doing precisely this for particular countries and I've operated in a service or lots of companies doing exactly that I can state it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not creating additional work for anybody where we do not have to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the standard I believe individuals have actually got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I think this is a procedure that requires taking a look at it requires altering but ultimately people are very stuck with what they're familiar
with ideal um modification is a tough thing we all don't like change um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having maintaining numerous checking account however there's a big amount of intricacy chooses setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private people so the complexity is substantial but I believe the truthful response is modification um individuals haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you have actually struck 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 constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be identified to be the next Century or two there is a lot to monitor and this method does pose a number of challenges um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I simply 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 International employees you are worthy of a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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