Find out more about Papaya Global Compatibility Error ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and reliable technique of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, saving me a significant amount of time each month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Worker Portal
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive advantages packages to worldwide workers no matter the variety of employees in the business. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the need to source local advantages service providers in every country, produce regional accounts and have a minimum number of workers.
The HR abilities offered by International HR incorporate different functions such as keeping an eye on getaway time, making sure compliance, assisting in the procedure of welcoming brand-new staff members and bidding goodbye to leaving ones, offering a secure online platform for storing employees' documents, and offering support for work allow procedures in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall work costs distributed per place, overall employment costs per cycle and a lot more.
Globally, I have actually shown leadership and tactical proficiency in guiding large-scale populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for supervising payroll techniques, as pointed out by Mark. My function includes handling and developing external partnerships, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
business to make the time 100 list for the majority of influential companies on the planet we provide payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great evening depending on where you are in the world it's charming to satisfy you and thank you quite 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 seven years um I was interested by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've type of had a variety of different functions on the service provider side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I actually 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 very extremely uninspiring and I wish I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies keep separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets offer a more structured 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 likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business precisely forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one nation but when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most importantly policies compliance data security and banking rules then there are the sheer numbers they add more complexity the global Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll design there's frequently an overwhelming number of different systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in large quantities and or very extremely fundamental there's no genuine consistency structure we're living in a period 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 whenever I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a business spends on global payroll the less of an image they see a lack of visibility likewise extends to payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes badly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they rely on the necessary multiple 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 making payments to staff members or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't need to be consisted of ideal and what does
it require to be considered 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 client's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is definitely critical but everywhere you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type 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 innovation is enabling us to kind of move forward with that it also also to add to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely imperative that payroll and finance groups work closer together than ever um I'm constantly impressed when people say 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 estimation 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 people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on wellness and the payment landscape is becoming progressively detailed. Organizations are continually presenting new advantages and payment options, which adds to the total intricacy. Big corporations frequently divide their payroll and payment processing into different teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly innovative era, there's no validation for preserving troublesome treatments. Payroll, the business's greatest expenditure, should be processed correctly and on time. Even small hold-ups can negatively affect staff members' wellness and have significant repercussions. Therefore, it's crucial to prioritize accurate and timely payments.
payroll team get um so I'm uncertain anyone on this type of webinar has actually been informed 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 workers or not um however eventually payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe 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 stuff is absolutely crucial that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment solution is an excellent initial step um providing an end-to-end payroll option for your workers globally once again I believe is another big um procedure once again aligning and ensuring you have standardization International processes all of those things are absolutely key to success success of organizations and reducing the variety of tools platforms and savings account they need for their International 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've never had a hundred thousand of them within a payroll cycle do not expect 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 understand how how important 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 simple as possible for everybody that's involved in those processes and likewise so envision sorry I'm just I was just gon na state think of 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 talking about numerous thousands possibly Millions picture getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting job trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and type of shot to return to everyone so moving on appearance why do companies select to main separate savings account there are services out there doing exactly this for specific countries and I've operated in a company or numerous businesses doing precisely that I can state it does not always feel efficient and it does create more work I know we're not deliberately doing that we're not creating extra work for anybody where we do not need to and anybody that's managing 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 believe numerous reasons one is it's the requirement I believe individuals have got so used to we need a new checking account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it requires changing however ultimately people are extremely stuck to what they're familiar
with best um change is a tough thing all of us do not like modification um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having preserving multiple bank accounts however there's a big amount of intricacy chooses setting up a checking account preserving it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for individual individuals so the intricacy is huge however I believe the sincere response is modification um individuals have not been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I think 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 real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century approximately there is a lot to keep track of and this technique does present a number of challenges um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I simply did you changed our Enterprise 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 should have a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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