Find out more about Papaya Global Reprint P60 ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and dependable method of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Employee Portal provides workers with the ability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to international employees no matter the number of staff members in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source regional benefits suppliers in every nation, develop regional accounts and have a minimum number of staff members.
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 authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total work expenses distributed per place, overall work expenses per cycle and far more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise customers and options as well as functioning as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for many influential companies on the planet we supply payroll payments and workforce management to all staff member types in 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 good afternoon good night depending on where you are in the world it's charming to fulfill 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 remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or six years where I've kind of had a variety of different functions on the service provider side and also on the supplier side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it remains 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 really bleak and I want I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies preserve separate
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex difficulty for companies running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and find how improving worldwide payroll payments can transform them from a troublesome task into a tactical asset.
Handling payroll globally is an overwhelming task due to numerous policies, compliance requirements, data security concerns, and banking guidelines. The sheer number of employees and organizations contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of integration, causing disparities and inadequacies. Despite living in an age of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to provide insights and options to streamline and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a company invests in worldwide payroll the less of an image they see an absence of visibility likewise encompasses payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal almost half of global services have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes improperly communicated hires and terminations along with absence management and system configurations and then when you round it all off and the data is shipped to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they rely on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a great question I constantly throw this back and state what is it what doesn't need to be included best and what does
it need to be considered there's differing 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 have to pay from the consumer's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is definitely important 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 sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to kind of move on with that it also too to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup processes is absolutely vital that payroll and financing teams work better together than ever um I'm always impressed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry 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 people anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of essential to add to sort of the level of intricacy there's more and more advantages being organ or being provided by businesses across the world so again you're just seeking to add more and more payments to this currently complex landscape so if you kind 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 obstacles or real difficult kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments works 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 handling the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to create additional handoffs while doing sos that we operate 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 an age of tech and an age that you know that we are working in today there is no reason that we are still making this as hard as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any service has from an expense point of view from an effect point of view on staff members it is absolutely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive effect on people's well-being and many other factors if people aren't paid uh I have actually always been impressed entering this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however eventually payroll is such a crucial cycle all of us hear about 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 view 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 stuff is done properly so leveraging the very first Global Payments very first payroll payment solution is a fantastic primary step um providing an end-to-end payroll service for your workers internationally once again I believe is another huge um process again aligning and ensuring you have standardization Global procedures all of those things are definitely key to success success of companies and reducing the number of tools platforms and checking account they need for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how essential 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 easy as possible for everyone that's associated with those processes and likewise so envision sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and sort of shot to return to everyone so moving on appearance why do business select to primary different checking account there are services out there doing exactly this for particular nations and I have actually worked in a company or lots of services doing precisely that I can say it does not always feel effective and it does create more work I understand we're not deliberately doing that we're not producing extra work for anybody where we do not need to and anybody that's managing 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 believe many factors one is it's the requirement I believe people have got so used to we need a new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs altering however eventually people are very stuck to what they recognize
with right um modification is a hard thing all of us don't like change um so I believe it's simply 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 benefits of having maintaining multiple savings account but there's a huge quantity of complexity goes with setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is huge but I think the truthful response is modification um individuals haven't been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is understanding you know and there is a component 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 understand what might nearly be identified to be the next Century or two there is a lot to keep an eye on and this method does present a number of challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I simply did you changed our Enterprise 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 International employees you deserve a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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