Find out more about Papaya Global Calculate Holiday Pay ... 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 acquired a different Chief Financial Officer particularly committed to managing payments. This offers us with a secure and trusted technique of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app simplifies my payroll procedure, saving me a substantial amount 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 contractors.
Staff member Portal
Employees have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies offer competitive advantages plans to international workers regardless of the number of employees in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every country, develop regional accounts and have a minimum variety of employees.
The HR abilities supplied by Worldwide HR encompass numerous functions such as keeping an eye on vacation time, making sure compliance, facilitating the process of inviting new workers and bidding goodbye to departing ones, offering a protected online platform for storing employees' files, and providing assistance for work allow procedures in case your staff members require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total work expenses distributed per location, total employment costs per cycle and a lot more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout business handling and building external relationships supporting Enterprise clients and options as well as acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a pleasure to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment options for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've type of had a range of different functions on the provider side and also on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really really bleak and I wish I was elsewhere at this moment in time all right 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 managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is especially useful for international organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property 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 intricate for a variety of factors most notably guidelines compliance data security and banking guidelines then there are the sheer numbers they include more complexity the worldwide Labor force is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the conventional payroll design there's often a frustrating number of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or really really fundamental there's no real consistency framework we're residing in an age of tech but payroll has actually been sluggish 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 every 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 services say they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more a company invests in global payroll the less of an image they see an absence of presence also extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global services have actually revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors inadequately communicated hires and terminations as well as lack management and system configurations and then when you round everything off and the data is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they count on the needed several procedures 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 obstacles company face when they're paying to staff members or otherwise that's an excellent question I constantly toss 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 differing Bank information 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 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 customer's own in-country account so there's complexity any place you look right eventually building a knowledge base is definitely vital however everywhere you look with payroll payment they are like extremely 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is allowing us to type of move forward with that it also too to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely vital that payroll and financing groups work more detailed together than ever um I'm always astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate 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 typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to contribute to sort of the level of intricacy there's more and more advantages being organ or being provided by services across the world so again you're just looking to include more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine challenging type of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and an era that you know that we are operating in today there is no reason that we are still making this as challenging as it requires to be agreed and rightly as you said payroll is the single greatest liability that any company has from a cost viewpoint from an impact perspective on employees it is definitely important that it's done correctly 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 harmful impact on people's well-being and lots of other elements if people aren't paid uh I have actually always been surprised entering into this Market sort of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an essential cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this things is done correctly so leveraging the very first Global Payments first payroll payment service is a fantastic primary step um supplying an end-to-end payroll option for your staff members internationally once again I think is another big um process again lining up and ensuring you have standardization Global processes all of those things are absolutely key to success success of services and minimizing the variety of tools platforms and checking account they require for their Global 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 have actually never ever had a hundred thousand of them within a payroll cycle don't expect 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 quite where they're meant to be um I do not 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 involved in those processes and likewise so picture sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job 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 browse them and really see what was going on and type of shot to get back to everyone so carrying on look why do business choose to primary separate savings account there are businesses out there doing precisely this for specific countries and I've worked in an organization or many businesses doing exactly that I can state it doesn't constantly feel efficient and it does create more work I know we're not intentionally doing that we're not creating extra work for anyone where we don't have to and any person that's managing 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 quantity that we are I believe lots of reasons one is it's the requirement I believe people have actually got so utilized to we need a new bank account we open an entity and rightly 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 just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a range I think this is a process that requires taking a look at it needs altering but ultimately people are really stuck with what they recognize
with right um change is a difficult thing all of us do not like change um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having preserving several bank accounts but there's a huge quantity of intricacy opts for setting up a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is huge but I think the truthful answer is modification um people haven't had the ability to change or have not had always the understanding to really make that change into alternate Solutions aside from opening a savings account I think 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 have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century approximately there is a lot to keep track of and this technique does position numerous difficulties um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I simply 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 Global employees you deserve a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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