Find out more about Papaya Global Benpal ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and reputable method of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll process, saving me a significant quantity of time each month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Staff member Website offers staff members with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to international employees despite the number of workers in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source regional advantages companies in every nation, develop local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall employment expenses dispersed per location, overall work costs per cycle and much more.
environments around the world I offered leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business handling and building external relationships supporting Enterprise clients and services along with serving as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many prominent business worldwide we supply payroll payments and labor force management to all worker types in over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon excellent evening depending upon where you remain in the world it's beautiful to satisfy you and thank you very much 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 market for over ten years and specifically working on the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I have actually type of had a range of various roles on the company side and likewise on the supplier side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it remains 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 extremely extremely uninspiring and I want I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business preserve separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over 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 firmly and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most importantly guidelines compliance information security and banking guidelines then there are the sheer numbers they add additional intricacy the worldwide Workforce is presently 3 and a half billion individuals by 2030 it's approximated 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 consider that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll model there's typically a frustrating number of different systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in big amounts and or really really fundamental there's no genuine consistency framework we're residing in an age of tech however 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 every time I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a company invests in global payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of international organizations have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors improperly interacted hires and terminations as well as absence management and system setups and then when you round it all off and the information is shipped to the incorrect location the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're making payments to employees or otherwise that's a great question I always throw this back and state what is it what does not require to be included right and what does
it require 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 timespan 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 complexity any place you look best ultimately constructing a knowledge base is definitely crucial however all over you look with payroll payment they are like incredibly payments no if however some babies 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 recognition that payroll payments are absolutely basic and technology is allowing us to kind of move forward with that it also too to contribute to that payroll and finance require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely necessary that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of essential to contribute to type of the level of intricacy there's a growing number of benefits being organ or being provided by services across the world so once again you're simply wanting to add a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real difficulties or real difficult sort of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would absolutely say that the bigger a company 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 information into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to produce extra handoffs in the processes that we operate in they simply make them more prompt they make them less effective 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 why we are still making this as tough as it needs to be agreed and rightly as you said payroll is the single biggest liability that any organization has from a cost point of view from an effect perspective on workers it is absolutely vital 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 impact on individuals's wellness and many other elements if people aren't paid uh I have actually constantly been impressed entering into this Market kind of the last five to ten years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just observe when things go wrong. However, when things go right, it's seen as simply a regular task. This is how it's perceived externally also. For that reason, it is important to guarantee that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the first International Payments first payroll payment service is a great initial step towards supplying a detailed payroll option for staff members worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and checking account necessary for worldwide payroll are crucial factors in accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyway we know how how important 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 everybody that's involved in those processes and also so picture sorry I'm just I was just gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task attempting to clean all those up for sure oh definitely I can't think of 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 actually see what was going on and sort of try to return to everyone so carrying on look why do business select to primary different savings account there are organizations out there doing exactly this for specific nations and I have actually worked in an organization or many companies doing precisely that I can say it does not constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating extra work for anybody where we do not have to and any person that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many reasons one is it's the requirement I believe individuals have actually got so used to we need a new checking account we open an entity and appropriately so you need 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 requirement and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires altering but ultimately people are extremely stuck to what they're familiar
with right um change is a difficult thing we all don't like change 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 great deal of track of stuff um I understand obviously the advantages of having maintaining multiple checking account however there's a big amount of intricacy chooses establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific people so the complexity is huge however I think the truthful response is modification um people have not been able to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century or two there is a lot to monitor and this technique does present numerous difficulties um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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