Find out more about Papaya Global Training Free ... We now have the capability to manage both our payroll and payments processes 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 offers us with a protected and reliable method of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Employee Portal supplies staff members with the capability to access and view important documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages plans to global workers regardless of the variety of employees in the company. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local benefits service providers in every country, produce regional accounts and have a minimum variety of workers.
The HR capabilities provided by Worldwide HR include numerous functions such as monitoring getaway time, guaranteeing compliance, facilitating the procedure of welcoming brand-new staff members and bidding goodbye to leaving ones, using a safe online platform for saving employees' documents, and supplying assistance for work allow procedures in case your employees need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total work costs distributed per location, total employment expenses per cycle and a lot more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business handling and building external relationships supporting Enterprise clients and services along with serving as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent 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 present himself. Good day to all, no matter your location. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The complexities and challenges of this field have always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of different functions on the service provider side and likewise on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting 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 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 extremely very dreary 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 taking a look at the difficulty years of managing Worldwide payroll why business preserve different
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in enough in one nation however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of factors most importantly regulations compliance data security and banking guidelines then there are the large numbers they add further intricacy the global Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing all over the world in the traditional payroll model there's typically a frustrating number of different systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or very extremely standard there's no real consistency framework we're residing in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more a company invests in international payroll the less of an image they see an absence of presence also encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide companies 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 errors are because of time reporting poor HCM data information entry errors improperly interacted hires and terminations along with absence management and system setups and then when you round it all off and the data is delivered to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they rely on the essential multiple processes 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 obstacles organization face when they're making payments to workers or otherwise that's a good question I always throw this back and say what is it what doesn't require to be consisted of right and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 customer's own in-country account so there's intricacy wherever you look right ultimately developing a knowledge base is absolutely important however everywhere you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a 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 absolutely fundamental and innovation is allowing us to kind of move on with that it also as well to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely important that payroll and financing teams work better together than ever um I'm constantly impressed when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 typically split and cut up um eventually 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
The contemporary world positions a high worth on wellness and the payment landscape is becoming increasingly complex. Businesses are constantly introducing brand-new advantages and payment options, which contributes to the total intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can cause inadequacies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's technologically innovative age, there's no reason for maintaining troublesome treatments. Payroll, the business's biggest cost, must be processed correctly and on time. Even minor delays can adversely affect workers' wellness and have significant effects. For that reason, it's vital to focus on accurate and prompt payments.
payroll group get um so I'm uncertain anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe 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 definitely vital that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment service is a fantastic initial step um providing an end-to-end payroll option 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 definitely crucial to success success of services and lowering the variety of tools platforms and bank accounts 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 do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I do not think any of us are really doing that for for the thanks
anyway we understand 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 involved in those procedures and also so think of sorry I'm simply I was simply gon na state imagine the quantity 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 think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task attempting to clean all those up for sure oh definitely 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 try to browse them and really see what was going on and kind of try to return to everyone so moving on look why do companies choose to primary separate savings account there are companies out there doing exactly this for specific countries and I've operated in a service or many services doing precisely that I can say it does not constantly feel effective and it does create more work I understand we're not deliberately doing that we're not developing extra work for anyone where we don't have to and anyone that's dealing with 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 numerous factors one is it's the requirement I think people have got so used to we need a new savings account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I believe this is a process that needs looking at it needs changing but eventually people are extremely stuck to what they recognize
with ideal um modification is a difficult thing we all don't like change um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having maintaining several bank accounts however there's a huge amount of intricacy chooses establishing a savings account keeping it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is big however I think the truthful response is change um people haven't been able to alter or have not had always the understanding to really make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change but we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be determined to be the next Century or so there is a lot to monitor and this technique does position several difficulties um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I just 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 Worldwide staff members you deserve a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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