Find out more about Papaya Global Cant Upload Payslips ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and reputable approach of paying to our 10,000 employees worldwide.}
The advanced international payroll management app streamlines my payroll process, conserving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Employee Website supplies employees with the capability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to global employees no matter the variety of workers in the business. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every country, produce regional accounts and have a minimum number of workers.
The HR abilities provided by Global HR incorporate different functions such as keeping an eye on getaway time, ensuring compliance, facilitating the procedure of inviting brand-new employees and bidding goodbye to leaving ones, offering a safe online platform for saving employees' documents, and providing support for work allow treatments in case your workers need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall employment expenses dispersed per place, total employment expenses per cycle and a lot more.
Internationally, I have demonstrated management and tactical know-how in assisting massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for managing payroll methods, as discussed by Mark. My role includes managing and developing external collaborations, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for many prominent companies on the planet we supply payroll payments and labor force management to all employee key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon good evening depending upon where you are in the world it's beautiful to meet you and thank you quite for your time as Ian stated 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 working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've type of had a range of various functions on the provider side and likewise on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be quite intriguing 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 definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very very bleak and I want I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why business preserve different
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is especially beneficial for international companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in enough in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most importantly policies compliance information security and banking rules then there are the sheer numbers they add further intricacy the international Labor force is presently three 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 factor in that there are some 230 million services and growing all doing their own thing worldwide in the conventional payroll model there's typically a frustrating variety of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or extremely extremely basic there's no genuine consistency framework we're living in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a company invests in worldwide payroll the less of a picture they see an absence of visibility also encompasses payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal nearly half of global organizations have expressed 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 bad HCM data data entry errors badly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the information is shipped to the incorrect location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they depend on the required multiple processes 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 obstacles service face when they're making payments to staff members or otherwise that's a great question I always throw this back and say what is it what doesn't require to be consisted of ideal 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 amount of time 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 consumer's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is enabling us to kind of move on with that it also as well to contribute to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely important that payroll and financing teams work better together than ever um I'm always astonished when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they split the payroll payment from calculation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more crucial to add to type of the level of intricacy there's a growing number of advantages being organ or being used by businesses throughout the world so again you're just seeking 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 large experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine challenging sort of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to create extra handoffs at the same times that we run in they simply make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and an age that you know that we are working in today there is no reason that we are still making this as challenging as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any business has from an expense point of view from an impact viewpoint on staff members it is absolutely important 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 have to be done right it has the most significant harmful result on people's well-being and many other aspects if individuals aren't paid uh I have actually constantly been astonished entering into this Market sort of the last five to 10 years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has 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 individuals only discover when things fail. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. Therefore, it is important to guarantee that jobs like Wi-Fi Global and other important matters are done properly. Utilizing the first International Payments very first payroll payment solution is an excellent preliminary action towards offering a thorough payroll service for staff members worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and savings account necessary for worldwide payroll are crucial factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyhow we understand how how important 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 simple as possible for everyone that's associated with those processes and likewise so think of sorry I'm just I was simply gon na say envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions think of 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 absolutely be an interesting job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and actually see what was going on and type of try to return to everyone so proceeding appearance why do companies select to primary separate checking account there are services out there doing precisely this for specific countries and I have actually operated in a service or lots of organizations doing precisely that I can state it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not creating extra work for anybody where we do not have to and any person that's handling 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 factors one is it's the standard I believe people have actually got so used to we need a new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I think this is a procedure that requires looking at it requires changing however eventually individuals are really stuck with what they're familiar
with right um change is a difficult thing we all do not like modification um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having keeping multiple checking account but there's a huge quantity of intricacy goes with establishing a bank account preserving it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for individual people so the intricacy is big but I think the honest response is modification um people have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could almost be figured out to be the next Century approximately there is a lot to keep an eye on and this method does pose a number of challenges um so Johnny could you inform us about those difficulties yeah naturally 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you are worthy of a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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