Find out more about Papaya Global Auto Enrolment Letters ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a secure and trustworthy technique of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Staff member Portal supplies workers with the ability 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 provided in different languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages packages to international staff members regardless of the variety of employees in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source regional advantages companies in every nation, create regional accounts and have a minimum number of employees.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall work costs dispersed per location, overall employment expenses per cycle and much more.
environments around the world I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work across the business handling and building external relationships supporting Enterprise customers and solutions as well as functioning as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for most prominent business in the world we offer payroll payments and workforce management to all staff member enters over 160 countries I am pleased to state that we also 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 remain in the world it's lovely to satisfy 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 ten years and particularly working on the payroll and payment sector for over 7 years um I was interested by the intricacy the trouble 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 kind of had a range of different roles on the service provider side and likewise on the vendor side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or two 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 intriguing and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone comes from and I really do hope it's much sunnier than it is 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 really very bleak and I wish I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the sheer numbers they include more intricacy the global Workforce is currently 3 and a half billion individuals 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 factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll design there's typically a frustrating variety of various systems causing lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or really really fundamental there's no genuine consistency framework we're living in an era of tech however payroll has actually been slow 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 every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more a company invests in international payroll the less of a photo they see an absence of exposure also reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal almost half of international businesses have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors improperly interacted hires and terminations along with lack management and system configurations and then when you round it all off and the data is delivered to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they rely on the needed several 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 company face when they're making payments to employees or otherwise that's a good question I constantly toss this back and say what is it what doesn't require to be consisted of best and what does
it need to be thought of 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 abilities 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 customer's own in-country account so there's intricacy any place you look right eventually building a knowledge base is definitely critical but everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to sort of move on with that it also as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely important that payroll and financing groups work better together than ever um I'm always surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from calculation 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 likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more important to add to type of the level of complexity there's more and more benefits being organ or being provided by organizations throughout the world so once again you're just aiming to include a growing number of payments to this already complex landscape so if you kind 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 challenges or real challenging kind of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would certainly state that the bigger 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 however you know in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and an era that you know that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any business has from an expense viewpoint from an impact perspective on workers it is definitely crucial that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the biggest detrimental result on individuals's wellness and numerous other elements if individuals aren't paid uh I have actually always been astonished entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's viewed externally as well. For that reason, it is necessary to ensure that tasks like Wi-Fi International and other important matters are done properly. Using the very first Global Payments very first payroll payment service is an excellent preliminary step towards offering a comprehensive payroll solution for workers worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and bank accounts necessary for worldwide payroll are crucial consider attaining service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyway we understand how how crucial a function 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 procedures and likewise so picture sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating job trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true 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 get back to everybody so proceeding appearance why do companies select to primary different bank accounts there are companies out there doing exactly this for specific countries and I've worked in a business or many companies doing precisely that I can say it doesn't always feel efficient and it does create more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not have to and anyone that's handling 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 quantity that we are I believe numerous factors one is it's the standard I think people have got so used to we need a brand-new bank account we open an entity and rightly so you need 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 norm individuals have adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I think this is a process that needs looking at it requires changing but eventually individuals are really stuck with what they're familiar
with ideal um modification is a difficult thing we all don't like modification 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 undoubtedly the advantages of having maintaining several checking account however there's a substantial quantity of complexity opts for establishing a checking account keeping it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is substantial however I believe the sincere answer is modification um individuals haven't had the ability to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change however we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or two there is a lot to keep an eye on and this approach does pose several obstacles um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this improved ability, I have effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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