Find out more about Papaya Global Professional ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a secure and reliable technique of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll process, saving me a considerable amount of time each month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Worker Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to international staff members regardless of the variety of workers in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source local advantages service providers in every nation, create local accounts and have a minimum number of staff members.
The HR capabilities offered by International HR incorporate different functions such as keeping an eye on holiday time, guaranteeing compliance, facilitating the procedure of inviting new employees and bidding goodbye to leaving ones, offering a safe online platform for keeping workers' files, and providing support for work permit procedures in case your employees need assistance 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 area, overall employment costs per cycle and a lot more.
environments across the globe I supplied management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business handling and structure external relationships supporting Enterprise customers and services as well as serving as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've kind of had a variety of different functions on the service provider side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very extremely gloomy 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 difficulty years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one country but when you're doing it internationally it's next level and Beyond it becomes intricate for a range of factors most notably regulations compliance data security and banking guidelines then there are the sheer numbers they include additional complexity the global Labor force is presently three 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 presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll design there's frequently an overwhelming variety of various systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in large quantities and or extremely extremely fundamental there's no real consistency structure we're living in a period of tech however 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 which simply blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more an organization spends on worldwide payroll the less of an image they see an absence of presence likewise reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of global businesses have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes badly interacted hires and terminations as well as absence management and system setups and then when you round everything off and the data is delivered to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they depend on the needed numerous procedures 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 business face when they're making payments to workers or otherwise that's a great concern I always toss this back and say what is it what does not require to be consisted of ideal and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 consumer's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type 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 basic and technology is enabling us to sort of move on with that it likewise as well to add to that payroll and financing need to work closer together um with varying Savings 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've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more crucial to contribute to type of the level of complexity there's a growing number of advantages being organ or being used by services across the world so once again you're just wanting to include more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine difficulties or genuine challenging sort of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of decades I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we require to create additional handoffs at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and an era that you know that we are working in today there is no reason why we are still making this as hard as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any organization has from a cost point of view from an impact point of view on employees it is absolutely important that it's done correctly and on time so what we indicate 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 damaging effect on people's wellness and numerous other elements if people aren't paid uh I have actually constantly been impressed entering into this Market kind of the last five to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just notice when things go wrong. However, when things go right, it's seen as simply a regular task. This is how it's viewed externally as well. For that reason, it is necessary to make sure that jobs like Wi-Fi Global and other vital matters are done properly. Utilizing the very first International Payments first payroll payment service is a terrific initial action towards offering a thorough payroll service for staff members worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and checking account necessary for global payroll are crucial factors in achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as prepared. Ultimately, we do not do it for the gratitude.
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 simple as possible for everybody that's associated with those processes and likewise so picture sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job attempting to clean 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 require days of the week to try to look through them and actually see what was going on and sort of shot to return to everyone so carrying on appearance why do business pick to primary separate checking account there are organizations out there doing precisely this for particular countries and I have actually worked in an organization or numerous organizations doing exactly that I can state it doesn't always feel effective and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anybody where we don't need to and any person that's handling 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 amount that we are I believe numerous reasons one is it's the requirement I think people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions 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 adopted 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 many other ways um to to kind of do it so I think there's a range I believe this is a process that requires looking at it requires altering however ultimately people are extremely stuck with what they're familiar
with best um modification is a challenging thing all of us don't like change um so I think it's just kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having keeping multiple savings account but there's a big amount of intricacy goes with setting up a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for specific people so the complexity is huge however I believe the honest response is change um individuals haven't been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we've always 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 know what could practically be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does posture several difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I just did you changed our Business 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 Worldwide employees you should have a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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