Find out more about Papaya Global Colud ... 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 obtained a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and secure and trusted technique of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app enhances my payroll procedure, conserving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
Staff member Website
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The portal is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to international employees no matter the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every country, produce local accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment expenses dispersed per place, total work costs per cycle and much more.
environments around the world I provided management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise customers and services along with acting as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually always captivated me.
payroll payments and decided to type of make a real go at that over the last five or six years where I've type of had a range of different functions on the service provider side and likewise on the supplier side from a payroll perspective so actually 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 among 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 interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone comes 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 very extremely dreary and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional checking account for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in various nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in enough in one nation but when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most importantly policies compliance information security and banking rules then there are the sheer numbers they include additional complexity the international Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 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 standard payroll model there's typically an overwhelming number of different systems causing lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or really extremely basic there's no real consistency structure we're living in an era of tech but 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 and that just blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more a service invests in global payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of global organizations have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors inadequately communicated hires and terminations in addition to lack management and system setups and then when you round everything off and the data is delivered to the incorrect location the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they rely on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business face when they're paying to workers or otherwise that's an excellent concern I always throw this back and say what is it what does not need to be consisted of best and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 have to pay from the customer's own in-country account so there's complexity anywhere you look ideal eventually constructing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble super payments no if but 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 definitely fundamental and innovation is enabling us to kind of move on with that it likewise also to add to that payroll and financing require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly 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 occupation 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 data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to contribute to type of the level of complexity there's increasingly more advantages being organ or being used by businesses across the world so again you're just looking to include a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine obstacles or genuine tough kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of years I would definitely say that the larger a company gets the more it tends to segregate the payroll and the payments works 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 managing the payment side of things but you know in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason 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 organization has from a cost viewpoint from an effect perspective on staff members it is absolutely important that it's done properly 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 destructive result on individuals's wellness and many other aspects if people aren't paid uh I've constantly been astonished coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during 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 a crucial cycle, and people just discover when things fail. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally also. Therefore, it is essential to ensure that tasks like Wi-Fi International and other crucial matters are done properly. Using the very first International Payments first payroll payment service is a terrific preliminary action towards providing an extensive payroll service for workers worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and checking account necessary for international payroll are key consider attaining service 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 understand how how essential a role 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 procedures and also so think of sorry I'm just I was just gon na say envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions picture 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 however it would definitely be an intriguing task attempting to clean all those up for sure oh definitely I can't envision 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 sort of shot to get back to everybody so moving on look why do business pick to main different bank accounts there are organizations out there doing exactly this for particular nations and I have actually worked in a service or many services doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not producing extra work for any person where we don't need to and anyone that's handling 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 quantity that we are I think lots of factors one is it's the standard I think people have actually got so used to we require a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that individuals have actually 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 believe this is a process that needs taking a look at it needs changing but eventually individuals are very stuck with what they recognize
with best um modification is a tough thing all of us do not like change um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having maintaining multiple savings account however there's a substantial amount of complexity chooses setting up a bank account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is huge however I believe the sincere answer is change um people have not been able to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to change but we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century or two there is a lot to keep an eye on and this technique does posture numerous obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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