Find out more about Reprinting P60 Papaya Global ... We now have the ability to handle 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 dedicated to managing payments. This offers us with a protected and trustworthy method of making payments to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll procedure, saving me a considerable amount of time every month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Staff member Portal offers workers with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global helps companies use competitive benefits packages to global employees no matter the number of workers in the company. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, develop local accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment costs distributed per location, total employment expenses per cycle and a lot more.
environments around the world I provided management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout business handling and building external relationships supporting Enterprise customers and options as well as functioning as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
company to make the time 100 list for most prominent companies on the planet we provide payroll payments and labor force management to all employee 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 introduce yourself naturally thank you good morning good afternoon good evening depending upon where you are in the world it's lovely to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've type of had a range of various functions on the service provider side and also on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right 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 kind of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely really dreary and I want I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business preserve separate
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being 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 properly efficiently safely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately forecast their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of factors most importantly guidelines compliance information security and banking rules then there are the large numbers they add additional intricacy the worldwide Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll model there's typically an overwhelming number of different systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or really very standard 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 frequently with pen and paper and that simply blows my mind whenever I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization invests in worldwide payroll the less of a photo they see a lack of visibility also extends to payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide companies have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes badly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the data is shipped to the wrong location the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they count on the essential several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're making payments to staff members or otherwise that's an excellent question I constantly throw this back and say what is it what does not require to be included right and what does
it require 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 time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity any place you look best ultimately building a knowledge base is absolutely vital however everywhere you look with payroll payment they are like very 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 think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to kind of move on with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely necessary that payroll and financing groups work more detailed together than ever um I'm constantly surprised when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split 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 procedure it's the point of data collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more essential to contribute to sort of the level of intricacy there's a growing number of benefits being organ or being used by businesses across the world so again you're just looking to include increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine challenges or real tough kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of years I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you know 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 need to produce extra handoffs in the processes that we run in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any business has from a cost viewpoint from an impact perspective on employees it is definitely critical 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 need to be done right it has the greatest damaging effect on individuals's wellness and numerous other elements if people aren't paid uh I've constantly been surprised coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only see when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the very first International Payments first payroll payment option is a terrific preliminary action towards offering a comprehensive payroll option for staff members worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and savings account required for international payroll are essential factors in attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyway we understand how how essential a function 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 also so imagine sorry I'm just I was just gon na state think of 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 talking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of try to return to everyone so moving on look why do business choose to primary different bank accounts there are services out there doing exactly this for particular nations and I've worked in a service or lots of organizations doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for any person where we don't need to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I believe people have actually got so used to we require a new bank account we open an entity and rightly 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 just been the requirement and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I think this is a process that needs taking a look at it needs changing however ultimately individuals are really stuck to what they recognize
with right um modification is a tough thing all of us don't like change um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having preserving multiple bank accounts however there's a substantial amount of complexity goes with setting up a savings account maintaining it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is huge but I think the sincere answer is change um people haven't been able to change or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could almost be determined to be the next Century or so there is a lot to track and this technique does present several difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I simply did you changed 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 International employees you should have a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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