Find out more about Papaya Global And Accounting Ireland ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to managing payments. This offers us with a safe and reliable approach of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app improves my payroll procedure, saving me a significant amount of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Employee Website offers employees with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to international employees no matter the variety of employees in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local benefits providers in every nation, create regional accounts and have a minimum number of employees.
The HR capabilities supplied by Worldwide HR include numerous functions such as keeping an eye on vacation time, making sure compliance, assisting in the procedure of inviting brand-new staff members and bidding farewell to leaving ones, providing a secure online platform for keeping employees' documents, and offering support for work allow treatments in case your staff members require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work costs dispersed per area, total employment expenses per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work across business handling and building external relationships supporting Business customers and services as well as functioning as a consultant for those of you that do not understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for a lot of influential companies in the world we supply payroll payments and workforce management to all worker key ins over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon excellent evening depending upon where you are in the world it's charming to meet 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 specifically working on the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually sort of had a range of various functions on the supplier side and likewise on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another couple of uh well among 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 rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely uninspiring and I wish I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly 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 accurately anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one country but when you're doing it globally it's next level and Beyond it becomes complex for a variety of factors most importantly regulations compliance information security and banking rules then there are the large numbers they include further intricacy the worldwide Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll design there's frequently an overwhelming variety of different systems causing lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or extremely really fundamental there's no real consistency framework we're residing in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a service spends on global payroll the less of an image they see an absence of exposure likewise reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of global companies have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the data is delivered to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars once 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 necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what does not need to be consisted of ideal 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 amount of time there's payment capabilities 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 customer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble incredibly payments no if however some babies 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 recognition that payroll payments are absolutely basic and innovation is permitting us to kind of move forward with that it likewise as well to add to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work closer together than ever um I'm always astonished when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more crucial to contribute to type of the level of intricacy there's more and more benefits being organ or being offered by businesses throughout the world so again you're just wanting to add a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine challenging type of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of years I would definitely say that the larger 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 groups feeding information into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you know that we are working in today there is no reason why we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any business has from an expense perspective from an effect perspective on workers it is absolutely important that it's done properly and on time so what we suggest 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 harmful result on individuals's wellness and many other elements if people aren't paid uh I have actually constantly been surprised coming into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this kind of webinar has 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 employees or not um but ultimately payroll is such an important cycle we all become aware of it when it fails 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 deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this stuff is done properly so leveraging the first Global Payments first payroll payment solution is a great initial step um supplying an end-to-end payroll solution for your staff members globally once again I think is another huge um procedure once again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely essential to success success of organizations and reducing the variety of tools platforms and savings account they require 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 have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I do not think any of us are really doing that for for the thanks
anyhow we know 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 simple as possible for everyone that's involved in those processes and also so think of sorry I'm simply I was simply gon na state think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions picture getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job attempting to clean 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 need days of the week to try to browse them and actually see what was going on and type of try to return to everybody so carrying on look why do companies pick to main different savings account there are businesses out there doing precisely this for specific countries and I've worked in a service or lots of companies doing exactly that I can say it does not always feel efficient and it does create more work I understand we're not deliberately doing that we're not developing additional work for anybody where we do not have to and any person that's handling 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 think lots of factors one is it's the standard I believe individuals have actually got so used to we require a brand-new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety 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 gone past to add to that people 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 think this is a process that requires looking at it needs altering however ultimately individuals are really stuck with what they're familiar
with right um modification is a tough thing we all don't like modification um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having preserving numerous savings account however there's a huge quantity of complexity opts for setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is huge however I believe the sincere answer is modification um people haven't been able to alter or have not had always the understanding to actually 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 knowledge you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to keep track of and this technique does posture a number of obstacles um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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