Find out more about Papaya Global Could Not Load File Or Assembly ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to handling payments. This provides us with a secure and reliable method of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
Staff member Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies offer competitive benefits bundles to worldwide staff members no matter the number of workers in the business. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional advantages suppliers in every country, develop local accounts and have a minimum number of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total work costs dispersed per area, total work costs per cycle and much more.
environments across the globe I offered management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business handling and structure external relationships supporting Business clients and solutions in addition to functioning as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for a lot of influential companies in the world we offer payroll payments and workforce management to all employee types in 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 present yourself of course thank you good morning excellent afternoon excellent night depending on where you remain in the world it's lovely to meet 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've remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of different roles on the company side and also on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really really bleak and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business maintain different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is particularly helpful for international companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of keeping different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical property 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 accurately effectively securely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly guidelines compliance data security and banking guidelines then there are the sheer numbers they add more intricacy the international Workforce is currently three and a half billion people 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 around the globe in the traditional payroll design there's typically a frustrating variety of various systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely really standard there's no real consistency structure we're living in an age of tech however 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 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 gives me sleep deprived nights and rather frankly the more a service spends on worldwide payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of global organizations have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes inadequately communicated hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the needed 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 service face when they're making payments to staff members or otherwise that's an excellent concern I constantly toss this back and state what is it what does not need to be included best 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 timespan 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 complexity any place you look right ultimately developing a knowledge base is definitely critical but everywhere you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a 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 contribute to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely important that payroll and finance teams work more detailed together than ever um I'm constantly amazed when individuals state I have actually divided 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 divide the payroll payment from computation 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 ultimately 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 likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to add to kind of the level of intricacy there's a growing number of benefits being organ or being provided by services throughout the world so again you're just seeking to include more and more payments to this currently complicated landscape so if you type 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 difficulties or genuine challenging kind of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would absolutely say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to create additional handoffs in the processes 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 an age of tech and an era that you know that we are operating in today there is no reason that we are still making this as hard as it requires to be concurred and rightly as you said payroll is the single greatest liability that any business has from an expense point of view from an impact point of view on employees it is definitely important that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the biggest damaging impact on people's wellness and lots of other elements if individuals aren't paid uh I've constantly been amazed coming into this Market sort of the last 5 to 10 years is how little thanks the
payroll team get um so I'm uncertain anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle we all hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely vital that all of this things is done correctly so leveraging the very first International Payments first payroll payment solution is an excellent initial step um supplying an end-to-end payroll solution for your employees internationally again I think is another big um procedure once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely crucial to success success of services and reducing the number of tools platforms and savings account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're suggested to be um I do not believe any of us are actually 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 simple as possible for everyone that's involved in those procedures and also so think of sorry I'm simply I was simply gon na say think of 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 speaking about numerous thousands possibly Millions think of getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and type of try to return to everyone so proceeding appearance why do companies select to main different savings account there are companies out there doing precisely this for particular countries and I've operated in a company or numerous services doing exactly that I can say it does not always feel efficient and it does develop more work I know we're not deliberately doing that we're not creating extra work for any person where we do not have to and anybody that's dealing with 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 requirement I believe individuals have actually got so utilized to we need a new checking account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other ways um to to type of do it so I think there's a variety I think this is a procedure that needs looking at it needs altering however ultimately people are extremely stuck to what they're familiar
with best um modification is a challenging thing we all don't like modification um so I believe it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having maintaining multiple checking account but there's a substantial amount of complexity opts for establishing a checking account preserving it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for individual people so the intricacy is big but I think the sincere answer is change um individuals haven't had the ability to change or haven't had always the understanding to actually make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I believe 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 reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century approximately there is a lot to track and this method does present a number of challenges um so Johnny could you inform us about those challenges yeah naturally so there's a range 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 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 should have a corner workplace with a parking space that is closer, considering your achievements.
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