Find out more about Papaya Global Pension Module ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to handling payments. This offers us with a protected and reliable method of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app simplifies my payroll process, saving me a substantial quantity of time every month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Staff member Portal supplies staff members with the capability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to international staff members no matter the variety of employees in the business. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional advantages providers in every nation, produce local accounts and have a minimum variety of workers.
The HR capabilities provided by Global HR include different functions such as keeping an eye on vacation time, guaranteeing compliance, assisting in the procedure of welcoming new employees and bidding farewell to leaving ones, offering a secure online platform for saving employees' files, and providing support for work allow treatments in case your workers require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total work costs distributed per location, total employment expenses per cycle and much more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout business handling and building external relationships supporting Enterprise customers and solutions as well as functioning as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
business to make the time 100 list for many influential companies in the world we offer payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state 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 great afternoon excellent night depending upon where you remain in the world it's lovely to satisfy 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 specifically dealing with the payroll and payment sector for over 7 years um I was fascinated 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 5 or 6 years where I've type of had a range of various roles on the supplier side and also on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I really 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 drizzling here it's extremely really bleak and I want I was somewhere else 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 obstacle years of managing International payroll why business keep separate
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in adequate in one country but when you're doing it globally it's next level and Beyond it ends up being complicated for a range of reasons most notably policies compliance information security and banking guidelines then there are the sheer numbers they include further complexity the worldwide Labor force is currently three and a half billion individuals by 2030 it's estimated 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 consider that there are some 230 million businesses and growing all doing their own thing around the globe in the conventional payroll design there's typically an overwhelming variety of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in large quantities and or very really basic there's no genuine consistency framework we're living in a period of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more a business spends on international payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction almost half of international services have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors improperly interacted hires and terminations along with lack management and system configurations and then when you round it all off and the information is delivered to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they depend on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles company face when they're paying to workers or otherwise that's a good concern I constantly toss this back and say what is it what doesn't need to be consisted of right and what does
it need to be thought of 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 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 complexity wherever you look right ultimately building a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to type of move forward with that it likewise also to add to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm constantly impressed when people say I have actually split 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more important to contribute to kind of the level of complexity there's a growing number of benefits being organ or being used by businesses across the world so once again you're simply aiming to add more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine challenges or real tough type of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of decades I would certainly say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding details into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to develop extra handoffs in the processes that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an age 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 hard as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any organization has from an expense point of view from an impact perspective on workers it is absolutely critical that it's done correctly 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 biggest destructive effect on individuals's wellness and numerous other aspects if people aren't paid uh I have actually constantly been surprised coming into this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's simply 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 stuff is absolutely vital that all of this things is done correctly so leveraging the very first Global Payments first payroll payment solution is a fantastic primary step um supplying an end-to-end payroll option for your staff members globally once again I think is another substantial um process once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of companies and decreasing the number of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in regards to 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 grievances where things haven't gone quite where they're meant to be um I do not think any of us are really doing that for for the thanks
anyhow we understand how how crucial a role 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 simple as possible for everybody that's associated with those processes and also so picture sorry I'm just I was just gon na say think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions envision getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing job trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and really see what was going on and type of try to return to everyone so proceeding look why do companies pick to main separate bank accounts there are businesses out there doing exactly this for particular countries and I have actually operated in a company or lots of businesses doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not creating additional work for any person where we don't have to and anyone that's managing that procedure 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 think lots of reasons one is it's the standard I think people have actually got so used to we need 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 think it's simply been the standard and the standard individuals have embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs altering however ultimately individuals are extremely stuck with what they're familiar
with right um modification is a challenging thing we all do not like modification um so I believe it's just sort 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 obviously the benefits of having maintaining numerous checking account but there's a huge quantity of complexity chooses establishing a bank account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for private people so the complexity is big however I think the honest answer is modification um people haven't been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter but we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could nearly be figured out to be the next Century approximately there is a lot to track and this approach does position a number of difficulties um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I simply did you changed 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 International employees you should have a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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