Find out more about Papaya Global Bureau Issues ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and reputable technique of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app simplifies my payroll procedure, saving me a significant quantity of time every month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Staff member Portal supplies staff members with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global helps companies provide competitive benefits packages to international employees no matter the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source local advantages companies in every nation, create regional accounts and have a minimum variety of staff members.
The HR abilities offered by Global HR include various functions such as keeping track of getaway time, ensuring compliance, helping with the procedure of inviting new workers and bidding goodbye to leaving ones, using a protected online platform for keeping workers' documents, and offering support for work allow treatments in case your workers need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work expenses distributed per location, total work costs per cycle and a lot more.
environments around the world I provided management 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 throughout business handling and structure external relationships supporting Business customers and services in addition to functioning as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential companies in the world we supply payroll payments and workforce management to all worker types in over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good night depending upon where you are in the world it's beautiful to meet 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 have actually been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the problem in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've type of had a range of different roles on the supplier side and likewise on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I really 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 drizzling here it's very very uninspiring and I want I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business preserve different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is especially beneficial for international organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of keeping separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic 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 properly effectively securely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in adequate in one country however when you're doing it internationally it's next level and Beyond it becomes complicated for a range of reasons most significantly regulations compliance information security and banking rules then there are the sheer numbers they add additional complexity the international Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals 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 all over the world in the traditional payroll design there's often an overwhelming number of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big amounts and or really really standard there's no real consistency framework we're residing in a period of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which 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 state they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a company spends on worldwide payroll the less of a picture they see a lack of presence also encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide services have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes badly communicated hires and terminations in addition to absence management and system setups and after that when you round everything off and the data is delivered to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they depend on the required numerous processes systems and partners it is simply 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 paying to employees or otherwise that's a good concern I always throw this back and say what is it what doesn't need to be included best and what does
it require to be thought of 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy any place you look ideal ultimately building a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble extremely 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 fundamental and innovation is allowing us to sort of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and financing teams work closer together than ever um I'm always surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more essential to contribute to type of the level of complexity there's increasingly more benefits being organ or being used by services throughout the world so again you're just seeking to add a growing number of payments to this already intricate landscape so if you type of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine obstacles or real challenging kind of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would certainly 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 info into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce extra handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they do not make them what they need 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 tough as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any business has from a cost perspective from an effect point of view on employees it is definitely critical that it's done correctly and on time so what we mean 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 harmful result on individuals's well-being and many other elements if individuals aren't paid uh I've constantly been amazed coming into this Market sort of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anybody on this sort of webinar has been informed 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 staff members or not um but ultimately payroll is such an important cycle we all hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment option is a great primary step um providing an end-to-end payroll solution for your staff members globally once again I think is another huge um process once again lining up and ensuring you have standardization Global procedures all of those things are absolutely essential to success success of organizations and minimizing the variety of tools platforms and bank accounts they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not 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 rather where they're suggested to be um I don't think any of us are really doing that for for the thanks
anyway we understand 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 everyone that's associated with those procedures and likewise so envision sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting 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 look through them and in fact see what was going on and type of shot to return to everyone so proceeding look why do business select to primary different checking account there are organizations out there doing exactly this for specific nations and I have actually worked in a company or lots of services doing exactly that I can say it does not always feel effective and it does develop more work I understand we're not intentionally doing that we're not creating additional work for anyone where we don't have to and anyone 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 lots of reasons one is it's the requirement I think individuals have actually got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll purposes however 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 passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I think this is a process that needs looking at it requires changing but eventually individuals are extremely stuck to what they're familiar
with right um modification is a challenging thing all of us do not like change um so I believe it's just 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 maintaining multiple checking account however there's a huge quantity of complexity chooses establishing a savings account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is big however I believe the sincere answer is modification um individuals have not been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is knowledge you understand and there is an element of resistance to change but we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or so there is a lot to keep track of and this method does posture numerous difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you should have a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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