Find out more about Papaya Global Cloud Support ... 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 actually acquired a different Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and trustworthy technique of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Worker Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment files. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive advantages bundles to worldwide staff members despite the variety of employees in the company. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local advantages suppliers in every country, create local accounts and have a minimum number of staff members.
The HR capabilities supplied by Worldwide HR incorporate numerous functions such as keeping an eye on holiday time, making sure compliance, facilitating the procedure of inviting brand-new workers and bidding goodbye to leaving ones, using a secure online platform for storing workers' documents, and supplying assistance for work allow procedures in case your staff members require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, total employment costs distributed per place, overall work costs per cycle and far more.
Globally, I have actually shown leadership and tactical proficiency in assisting large-scale populations of over 100,000 workers across 170 countries. Currently, I am responsible for supervising payroll strategies, as discussed by Mark. My function involves handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for most prominent companies worldwide we provide payroll payments and labor force management to all employee key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great night depending on where you remain in the world it's charming 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 industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or six years where I've type of had a variety of different roles on the company side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply provide everyone 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 rather 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 everyone comes from and I really do hope it's much sunnier than it is 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 really really gloomy and I wish 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 looking at the challenge years of managing International payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining different savings account for payroll in different countries, virtual accounts and digital wallets offer 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 offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in enough in one country however when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of factors most notably policies compliance data security and banking rules then there are the large numbers they include further complexity the worldwide Labor force is currently 3 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 presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the standard payroll design there's frequently an overwhelming variety of various systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or extremely extremely fundamental there's no real consistency framework 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 typically with pen and paper which simply blows my mind each 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 Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of a photo they see a lack of presence likewise reaches payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of global businesses have actually expressed 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 bad HCM information data entry mistakes improperly interacted hires and terminations as well as absence management and system setups and after that when you round it all off and the information is delivered to the wrong place the typical cost of a worldwide data 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 required numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to staff members or otherwise that's a great concern I always toss this back and say what is it what doesn't require to be consisted of right and what does
it require to be considered there's differing Bank details 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 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 customer's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is absolutely crucial however all over you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and innovation is permitting us to type of progress with that it likewise too to add to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely essential that payroll and finance teams work closer together than ever um I'm always surprised when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession 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 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 any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on wellness and the compensation landscape is becoming progressively intricate. Companies are continually introducing new advantages and payment choices, which adds to the general intricacy. Big corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my viewpoint, this doesn't need to hold true. In today's technically innovative era, there's no justification for keeping cumbersome treatments. Payroll, the company's most significant cost, need to be processed correctly and on time. Even minor delays can negatively impact workers' wellness and have significant effects. For that reason, it's crucial to prioritize accurate and timely payments.
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just observe when things fail. However, when things go right, it's seen as just a regular task. This is how it's viewed externally as well. For that reason, it is important to guarantee that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the first Global Payments very first payroll payment service is a fantastic preliminary step towards offering a thorough payroll solution for staff members worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and bank accounts needed for worldwide payroll are crucial consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we know how how essential 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 associated with those processes and also so think of sorry I'm simply I was simply gon na state 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 numerous thousands potentially Millions think of getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job 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 need days of the week to try to check out them and really see what was going on and type of shot to return to everybody so carrying on appearance why do business choose to primary different bank accounts there are services out there doing precisely this for particular nations and I have actually operated in a company or lots of services doing precisely that I can state it does not constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not creating extra work for anybody where we don't have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe 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 used to we require a brand-new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and many 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 needs changing however ultimately individuals are extremely stuck with what they recognize
with best um change is a hard thing all of us do not like modification um so I think it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having preserving numerous savings account but there's a substantial amount of complexity goes with setting up a checking account keeping it ensuring it can send International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is substantial but I think the sincere answer is change um individuals have not been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century or so there is a lot to keep track of and this approach does present several challenges um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this enhanced capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is closer, considering your accomplishments.
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