Find out more about Papaya Global Removal Tool ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a protected and dependable technique of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll procedure, saving me a considerable quantity of time monthly. With its easy to use user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Employee Portal
Employees have access to a Worker Website where they can see their pay slips, wage and tax statements and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to international employees regardless of the number of workers in the business. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source local benefits service providers in every nation, create regional accounts and have a minimum variety of staff members.
The HR abilities offered by International HR include numerous functions such as keeping an eye on holiday time, guaranteeing compliance, facilitating the process of welcoming brand-new employees and bidding goodbye to leaving ones, providing a safe online platform for keeping employees' files, and providing assistance for work permit treatments in case your employees need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work expenses distributed per area, total work costs per cycle and much more.
Internationally, I have shown management and strategic competence in directing massive populations of over 100,000 workers throughout 170 nations. Currently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role includes handling and developing external collaborations, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
company to make the time 100 list for most influential business in the world we offer payroll payments and labor force management to all staff member enters over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon great evening depending on where you are in the world it's lovely 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 remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of various roles on the service provider side and also on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone originates from and I actually 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 raining here it's very very dreary and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies keep different
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different savings account for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll expenses to optimize working capital, and find how enhancing worldwide payroll payments can transform them from a difficult task into a strategic possession.
Handling payroll worldwide is a complicated task due to numerous policies, compliance requirements, data security concerns, and banking rules. The sheer variety of employees and services contributes to the complexity, with an approximated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and a lack of combination, leading to disparities and inadequacies. Despite living in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to provide insights and options to simplify and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that provides me sleepless nights and quite frankly the more a business spends on worldwide payroll the less of a picture they see a lack of exposure likewise extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide companies have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors poorly interacted hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the data is delivered to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the essential 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 organization face when they're making payments to workers or otherwise that's an excellent question I always throw this back and state what is it what doesn't require to be included best and what does
it need to be thought about there's varying Bank information 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look right eventually developing a knowledge base is definitely vital but 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 kind 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 absolutely essential and innovation is allowing us to type of move on with that it likewise also to add to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and finance teams work more detailed together than ever um I'm always astonished when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to contribute to kind of the level of intricacy there's more and more advantages being organ or being offered by businesses throughout the world so once again you're simply wanting to add more and more payments to this already complex landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real challenges or genuine challenging sort of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding details into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we require to create extra handoffs while doing sos that we run in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an era that you understand that we are working in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any business has from an expense viewpoint from an impact perspective on employees it is absolutely critical 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 have to be done right it has the most significant damaging result on individuals's well-being and numerous other elements if people aren't paid uh I've constantly been surprised entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm uncertain anyone on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but eventually payroll is such an essential cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this things is done properly so leveraging the very first Global Payments first payroll payment solution is a fantastic first step um supplying an end-to-end payroll solution for your staff members globally once again I believe is another substantial um procedure again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of businesses and reducing the variety of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I do not think any of us are actually 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 easy as possible for everybody that's associated with those processes and likewise so think of sorry I'm just I was just gon na say envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions envision 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 interesting job attempting to clean 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 attempt to check out them and really see what was going on and type of try to get back to everybody so carrying on appearance why do business choose to main different bank accounts there are businesses out there doing exactly this for specific nations and I have actually operated in a service or many services doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not producing extra work for anyone where we do not have to and anyone that's managing that process 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 think numerous factors one is it's the requirement I think individuals have actually got so used to we need a new savings account we open an entity and rightly so you require 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 standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and many other methods um to to type of do it so I think there's a variety I believe this is a process that needs taking a look at it needs changing however eventually people are really stuck with what they recognize
with ideal um modification is a challenging thing all of us do not like modification um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having preserving numerous bank accounts but there's a substantial amount of intricacy chooses establishing a bank account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific individuals so the intricacy is huge however I think the honest answer is change um people haven't had the ability to change or haven't had always the knowledge to actually 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 knowledge you know and there is an aspect of resistance to change however we've always done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what might nearly be figured out to be the next Century or so there is a lot to monitor and this approach does present several challenges um so Johnny might you tell us about those difficulties yeah of course so there's a range 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 workers you are worthy of a corner office with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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