Find out more about Papaya Global Bacs Payments ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and reputable method of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive advantages bundles to international employees despite the number of workers in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source regional benefits service providers in every nation, develop regional accounts and have a minimum number of employees.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total employment costs dispersed per area, overall employment costs per cycle and much more.
environments around the world I supplied management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business handling and building external relationships supporting Business customers and solutions along with acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent companies in the world we provide payroll payments and workforce management to all worker enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent night depending upon where you are in the world it's charming 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 have actually remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've kind of had a range of different functions on the provider side and also on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or two 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 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 everybody comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very really dreary and I want I was elsewhere at this moment in time fine 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 handling International payroll why business keep separate
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is particularly useful for international organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how companies properly forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it becomes complex for a variety of reasons most notably guidelines compliance information security and banking guidelines then there are the sheer numbers they include additional complexity 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 more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll model there's typically a frustrating number of various systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in large quantities and or extremely extremely fundamental there's no genuine consistency framework we're residing in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply 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 just 11 of companies state they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more a business spends on international payroll the less of an image they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide organizations have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes improperly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the information is delivered to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they depend on the required several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to workers or otherwise that's a great concern I constantly toss this back and state what is it what doesn't need 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 amount of time 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 consumer's own in-country account so there's intricacy wherever you look best ultimately constructing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to sort of move on with that it also too to add to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely essential that payroll and financing teams work more detailed together than ever um I'm constantly amazed when people say 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 occupation 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 typically 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 reside in and well-being being a growing number of important to add to kind of the level of intricacy there's a growing number of advantages being organ or being used by services across the world so again you're simply aiming to add more and more payments to this already complex landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real obstacles or genuine difficult type of pay uses to play to pay people I think yeah I imply over the last well yeah a number 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 job there are teams feeding information into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we require to develop 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 require to be in in a period 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 challenging as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any company has from an expense perspective from an impact perspective on employees 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 destructive effect on individuals's wellness and many other aspects if individuals aren't paid uh I've constantly been astonished entering into this Market kind of the last five to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just observe when things fail. 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 vital to guarantee that tasks like Wi-Fi Worldwide and other essential matters are done properly. Utilizing the first Worldwide Payments first payroll payment solution is a terrific initial action towards supplying a thorough payroll option for employees worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and checking account essential for worldwide payroll are key factors in attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyhow 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 simple as possible for everyone that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions picture getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task 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 try to look through them and in fact see what was going on and kind of shot to get back to everybody so carrying on appearance why do business choose to main different savings account there are organizations out there doing precisely this for particular countries and I have actually operated in a company or many companies doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not creating extra work for any person where we do not have to and anyone that's handling that procedure I 'd be interested to hear your thoughts 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 believe people have got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people 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 type of do it so I think there's a range I think this is a process that needs looking at it needs altering but eventually individuals are very stuck with what they recognize
with ideal um modification is a hard thing we all don't like modification um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having maintaining several checking account but there's a big amount of complexity goes with setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific people so the intricacy is huge but I think the honest answer is modification um people have not had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change but we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be determined to be the next Century or two there is a lot to monitor and this technique does present a number of challenges um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I just did you switched 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 workers you are worthy of a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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