Find out more about Papaya Global Bureau Pension Module ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This offers us with a protected and reputable method of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Staff member Website
Workers have access to an Employee Website where they can view their pay slips, wage and tax declarations and work documents. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive advantages bundles to international workers despite the variety of staff members in the company. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source regional benefits suppliers in every country, develop local accounts and have a minimum variety of staff members.
The HR capabilities offered by Global HR include different functions such as keeping track of holiday time, ensuring compliance, assisting in the procedure of inviting brand-new employees and bidding goodbye to leaving ones, providing a safe and secure online platform for saving workers' files, and supplying support for work permit procedures in case your employees need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work costs dispersed per place, overall work costs per cycle and a lot more.
environments around the world I offered management and strategy 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 structure external relationships supporting Enterprise customers and services along with acting as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for most prominent business on the planet we supply payroll payments and labor force management to all employee types in over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon excellent night depending upon where you are in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble 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've type of had a variety of different functions on the provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody 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 drizzling here it's really extremely bleak and I want I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business preserve different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is especially helpful for international companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs 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 enough in one country however when you're doing it globally it's next level and Beyond it ends up being complex for a variety of factors most significantly regulations compliance data security and banking rules then there are the sheer numbers they include more complexity the worldwide Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the conventional payroll model there's typically a frustrating number of different systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in large amounts and or extremely very fundamental there's no real consistency framework we're living in a period 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 each time I I believe
about it to give 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 business invests in global payroll the less of a photo they see a lack of exposure likewise encompasses payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide services have actually revealed that they don't 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 data information entry mistakes badly communicated hires and terminations along with absence management and system configurations and then when you round it all off and the data is delivered to the incorrect location the typical cost 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 don't run efficiently if they rely on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're paying to employees or otherwise that's an excellent question I always throw this back and say what is it what doesn't require to be consisted of best and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 consumer's own in-country account so there's complexity any place you look ideal ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and technology is permitting us to sort of move forward with that it also too to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely important that payroll and financing groups work closer together than ever um I'm constantly surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market 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 data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to add to type of the level of complexity there's more and more advantages being organ or being offered by businesses throughout the world so once again you're just seeking to include more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine difficulties or real difficult type of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of years I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding details into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we operate in they simply 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 an era that you understand that we are working in today there is no reason we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any company has from a cost point of view from an impact viewpoint on employees it is absolutely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful impact on people's well-being and lots of other aspects if people aren't paid uh I have actually constantly been astonished entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done correctly so leveraging the first Global Payments first payroll payment service is an excellent primary step um supplying an end-to-end payroll solution for your employees globally once again I think is another huge um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely essential to success success of services and minimizing the variety of tools platforms and bank accounts they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 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 don't think any of us are in fact doing that for for the thanks
anyhow we understand how how crucial a function 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 easy as possible for everybody that's involved in those processes and likewise so envision sorry I'm just I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and kind of shot to return to everybody so proceeding appearance why do business pick to main different checking account there are organizations out there doing precisely this for particular countries and I've worked in an organization or lots of companies doing exactly that I can state it doesn't always feel efficient and it does produce more work I understand we're not purposely doing that we're not creating extra work for anybody where we don't have to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I believe people have got so used to we need a new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires changing however eventually individuals are extremely stuck with what they recognize
with best um modification is a tough thing we all do not like modification um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having preserving multiple bank accounts however there's a substantial quantity of intricacy opts for setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the best user accesses for individual individuals so the complexity is substantial but I think the sincere response is change um individuals have not been able to alter or haven't had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to alter however we have actually always done it that way is no real 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 identified to be the next Century approximately there is a lot to track and this technique does position a number of difficulties um so Johnny could you tell us about those obstacles yeah obviously so there's a variety right there is so
I just did you changed our Business 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 International workers you are worthy of a corner workplace with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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