Find out more about Papaya Global Paternity Pay ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a safe and trustworthy technique of making payments to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll procedure, conserving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Worker Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and employment documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive advantages plans to worldwide workers regardless of the number of employees in the company. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local advantages service providers in every country, create local accounts and have a minimum number of staff members.
The HR abilities provided by Worldwide HR include different functions such as monitoring trip time, ensuring compliance, assisting in the process of welcoming brand-new workers and bidding farewell to departing ones, using a secure online platform for keeping workers' documents, and providing support for work permit procedures in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, overall employment expenses dispersed per place, overall employment costs per cycle and much more.
Internationally, I have shown leadership and strategic expertise in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for supervising payroll techniques, as pointed out by Mark. My role includes handling and developing external collaborations, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for a lot of influential companies on the planet we supply payroll payments and workforce management to all worker key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon good 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 have actually been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually type of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type 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 everyone comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely dreary and I wish I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business maintain different
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of maintaining different checking account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most notably policies compliance information security and banking rules then there are the large numbers they add further intricacy the international Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in 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 frequently a frustrating variety of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or very very standard there's no real consistency framework we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in global payroll the less of a picture they see an absence of visibility likewise encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide businesses have expressed that they don't 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 data entry errors improperly communicated hires and terminations as well as lack management and system configurations and then when you round it all off and the data is delivered to the wrong place the average cost of a global 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 world payroll and payments do not run efficiently if they depend on the necessary several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're paying to workers or otherwise that's a great question I constantly toss this back and state what is it what doesn't require to be consisted of right and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy wherever you look right eventually constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like extremely payments no if but some infants 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 essential and technology is enabling us to sort of move forward with that it also too to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is definitely essential that payroll and finance teams work better together than ever um I'm always amazed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more crucial to contribute to kind of the level of complexity there's increasingly more benefits being organ or being provided by companies throughout the world so again you're simply wanting to include increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine challenging sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would definitely say that the larger an organization 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 teams feeding info into the next function as it were that's in fact handling the payment side of things however you understand 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 create additional handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an age of tech and a period that you understand that we are working in today there is no reason why we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from an expense perspective from an impact viewpoint on workers it is absolutely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest detrimental impact on individuals's well-being and many other elements if people aren't paid uh I have actually constantly been surprised coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only notice when things go wrong. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally too. For that reason, it is important to make sure that tasks like Wi-Fi Global and other vital matters are done properly. Using the first Worldwide Payments first payroll payment solution is a terrific initial step towards offering a thorough payroll service for employees worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and savings account necessary for international payroll are crucial factors in attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyway we know how how crucial 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 everyone that's involved in those processes and likewise so imagine sorry I'm just I was simply gon na say picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job trying to clean up all those up for sure oh absolutely 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 look through them and actually see what was going on and kind of try to return to everyone so moving on appearance why do companies select to primary separate savings account there are services out there doing precisely this for specific nations and I have actually worked in a company or lots of services doing exactly that I can say it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not creating extra work for anybody where we don't need to and anyone that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I believe individuals have got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I think this is a process that requires looking at it needs altering however ultimately people are really stuck to what they're familiar
with ideal um modification is a tough thing we all do not like modification um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having keeping several bank accounts however there's a substantial quantity of intricacy chooses setting up a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for private people so the complexity is huge however I believe the honest answer is change um individuals have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century or two there is a lot to keep an eye on and this technique does posture a number of difficulties um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you are worthy of a corner workplace with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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