Find out more about Papaya Global Cjrs Module ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and reliable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app streamlines my payroll procedure, conserving 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 handles my payroll, EOR, and specialists.
Employee Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive benefits packages to worldwide staff members despite the number of staff members in the company. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source local benefits suppliers in every country, produce regional accounts and have a minimum number of workers.
The HR abilities supplied by Worldwide HR encompass different functions such as keeping an eye on holiday time, guaranteeing compliance, facilitating the process of inviting new employees and bidding farewell to leaving ones, providing a protected online platform for saving workers' documents, and providing assistance for work permit treatments in case your staff members require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment costs dispersed per area, overall work costs per cycle and a lot more.
Worldwide, I have actually demonstrated management and strategic competence in guiding massive populations of over 100,000 staff members across 170 nations. Presently, I are accountable for overseeing payroll methods, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
company to make the time 100 list for most influential companies on the planet we supply payroll payments and workforce management to all employee types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally 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 have actually been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually kind of had a range of different roles on the service provider side and also on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone 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 very really bleak and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies maintain different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one nation however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most notably regulations compliance information security and banking guidelines then there are the large numbers they include additional complexity the worldwide Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the conventional payroll model there's frequently a frustrating variety of various systems resulting in lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely extremely standard there's no real consistency structure we're living in an era of tech however 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 and that simply 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 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 service invests in global payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide organizations have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors inadequately interacted hires and terminations along with absence management and system configurations and after that when you round everything off and the data is delivered to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they depend on the essential 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 service face when they're paying to staff members or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be included right 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 country there's payment amount of time there's payment abilities so can you pay it from International or do you have 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 best eventually building a knowledge base is absolutely crucial however all over you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in 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 technology is enabling us to type of progress with that it also also to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm always astonished when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more crucial to contribute to kind of the level of intricacy there's a growing number of benefits being organ or being provided by companies across the world so once again you're just aiming to add a growing number of payments to this currently intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine challenges or real tough kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would absolutely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to develop additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an age 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 stated payroll is the single most significant liability that any organization has from an expense viewpoint from an effect perspective on employees it is definitely crucial that it's done properly and on time so what we suggest 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 damaging effect on people's wellness and lots of other factors if individuals aren't paid uh I have actually constantly been surprised entering into this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important 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 simply a tick box workout and I believe 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 important that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment solution is a terrific initial step um offering an end-to-end payroll solution for your staff members internationally again I think is another substantial um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of businesses and lowering 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 regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I don't believe any of us are really doing that for for the thanks
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 easy as possible for everyone that's involved in those processes and likewise so imagine sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely 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 attempt to look through them and actually see what was going on and kind of shot to return to everybody so carrying on appearance why do business select to main different bank accounts there are companies out there doing exactly this for particular countries and I've worked in a business or many services doing precisely that I can say it doesn't constantly feel efficient and it does create more work I know we're not purposely doing that we're not creating extra work for anybody where we don't need 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 lots of reasons one is it's the standard I think individuals have actually got so utilized to we require a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I think this is a process that needs looking at it requires altering but ultimately people are very stuck with what they're familiar
with right um change is a tough thing all of us don't like modification um so I believe it's simply type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having maintaining multiple bank accounts but there's a substantial amount of intricacy chooses establishing a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is huge but I think the truthful answer is modification um individuals haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century or so there is a lot to keep an eye on and this technique does posture several difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your accomplishments.
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