Find out more about Papaya Global Processing Leavers ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly committed to managing payments. This supplies us with a secure and reputable approach of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app simplifies my payroll procedure, conserving me a significant quantity of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Worker Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work files. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive benefits bundles to global employees regardless of the variety of workers in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits companies in every country, develop local accounts and have a minimum number of employees.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work license 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 place, total work costs per cycle and far more.
environments around the world I provided leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business managing and building external relationships supporting Business clients and services along with functioning as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for most prominent companies on the planet we offer payroll payments and workforce management to all staff member enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon excellent evening depending on where you remain in the world it's charming to fulfill you and thank you very much for your time as Ian said 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 particularly dealing with the payroll and payment sector for over seven years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually sort of had a variety of different roles on the provider side and also on the supplier side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating 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 originates from and I really do hope it's much sunnier than it remains 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 very extremely dreary and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why business keep different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how business accurately forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most notably guidelines compliance data security and banking guidelines then there are the sheer numbers they add further complexity the international Workforce is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the conventional payroll design there's frequently a frustrating variety of various systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or really very standard there's no genuine consistency structure 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 simply blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that gives me sleepless nights and rather frankly the more a business spends on international payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of international organizations have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors poorly communicated hires and terminations as well as lack management and system setups and then when you round all of it off and the data is delivered to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they depend on the required multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties business face when they're making payments to workers or otherwise that's a good question I constantly throw this back and state what is it what does not need to be included 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 timespan 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 wherever you look best ultimately developing a knowledge base is definitely crucial however all over you look with payroll payment they are like incredibly payments no if however some infants 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 think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is enabling us to kind of move forward with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely vital that payroll and finance teams work closer together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on well-being and the settlement landscape is ending up being significantly intricate. Organizations are continuously presenting brand-new advantages and payment choices, which contributes to the general complexity. Large corporations frequently divide their payroll and payment processing into separate teams, which can result in inefficiencies and bottlenecks. In my opinion, this does not need to hold true. In today's technologically sophisticated age, there's no reason for keeping cumbersome procedures. Payroll, the business's biggest cost, need to be processed correctly and on time. Even minor hold-ups can negatively impact staff members' well-being and have far-reaching effects. Therefore, it's vital to prioritize precise and timely payments.
payroll group get um so I'm unsure anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle we all become aware of it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done properly so leveraging the very first International Payments first payroll payment solution is a terrific initial step um offering an end-to-end payroll option for your workers worldwide once again I believe is another big um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of services and minimizing the number of tools platforms and savings account they require for their International 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've never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're implied to be um I do not think any of us are really doing that for for the thanks
anyway we understand how how crucial a role 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 simple as possible for everybody that's involved in those processes and likewise so envision sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the amount 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 indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task 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 need days of the week to try to browse them and in fact see what was going on and kind of shot to get back to everybody so proceeding look why do business choose to main separate bank accounts there are companies out there doing exactly this for particular nations and I have actually worked in an organization or numerous businesses doing precisely that I can state it does not always feel efficient and it does create more work I understand 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 dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe 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 people have actually got so utilized to we need a brand-new savings 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 just been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I think this is a procedure that requires looking at it requires altering however ultimately individuals are very stuck with what they recognize
with best um change is a hard thing all of us don't like change um so I believe it's simply sort of moving far 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 keeping numerous savings account however there's a huge quantity of intricacy chooses establishing a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for individual individuals so the complexity is huge however I believe the sincere answer is change um individuals haven't had the ability to alter or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might practically be identified to be the next Century or two there is a lot to monitor and this technique does posture several challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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