Find out more about Papaya Global Average Earnings ... 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 obtained a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a secure and trustworthy technique of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
The Worker Website offers staff members with the ability to access and view important 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 numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages packages to global workers regardless of the variety of staff members in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local advantages suppliers in every country, produce regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall employment expenses dispersed per location, total work expenses per cycle and far more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business managing and structure external relationships supporting Enterprise customers and services along with serving as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
business to make the time 100 list for a lot of influential companies worldwide we supply payroll payments and labor force 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 great evening depending upon where you are in the world it's lovely 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 ten years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've kind of had a range of different functions on the supplier side and likewise on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone 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 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 really dreary 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 taking a look at the obstacle years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote labor forces, as it simplifies the complicated 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 service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most importantly policies compliance data security and banking rules then there are the large numbers they add further intricacy the worldwide Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll model there's frequently a frustrating variety of different systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in large quantities and or really extremely basic there's no genuine consistency structure we're residing in an era 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 and that just blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly the more a company invests in global payroll the less of an image they see a lack of visibility likewise extends to payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of global businesses have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors improperly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the information is delivered to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they depend on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business 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 need to be consisted of best and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities 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 client's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is enabling us to sort of move on with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance groups work more detailed together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more essential to add to kind of the level of complexity there's more and more advantages being organ or being provided by organizations throughout the world so once again you're simply aiming to add a growing number of payments to this already complex landscape so if you type 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 genuine tough kind of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of decades I would definitely say that the bigger a business 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 really handling the payment side of things however you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to develop extra handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you understand that we are operating in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any organization has from an expense viewpoint from an effect perspective on workers it is definitely crucial 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 need to be done right it has the greatest detrimental result on individuals's wellness and lots of other elements if people aren't paid uh I have actually constantly been amazed entering this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also 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 Worldwide Payments first payroll payment service is a great primary step um providing an end-to-end payroll service for your workers globally again I think is another big um procedure again lining up and ensuring you have standardization Global procedures all of those things are absolutely essential to success success of organizations and decreasing the number of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 simple as possible for everybody that's involved in those procedures and likewise so imagine sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions think of 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 absolutely be a fascinating job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of shot to return to everybody so moving on appearance why do business pick to main different bank accounts there are organizations out there doing precisely this for particular countries and I've operated in an organization or lots of businesses doing precisely that I can say it does not always feel efficient and it does produce more work I know we're not intentionally doing that we're not developing additional work for anybody where we do not have to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the standard I think people have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs looking at it needs changing however eventually people are extremely stuck to what they're familiar
with right um change is a difficult thing all of us don't like change um so I believe it's just 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 clearly the benefits of having maintaining multiple savings account but there's a substantial quantity of complexity opts for establishing a savings account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the complexity is big but I think the sincere response is modification um people haven't been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to change but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to monitor and this approach does present several difficulties um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this enhanced capability, I have effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your achievements.
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