Find out more about Papaya Global Course Fees ... 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 offers us with a secure and trusted approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Employee Website
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to worldwide employees despite the number of staff members in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages suppliers in every country, produce regional accounts and have a minimum variety of staff members.
The HR capabilities provided by Worldwide HR incorporate various functions such as monitoring holiday time, making sure compliance, facilitating the process of welcoming brand-new workers and bidding goodbye to departing ones, providing a safe and secure online platform for saving employees' files, and supplying assistance for work allow procedures in case your workers need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, overall employment expenses distributed per location, total employment expenses per cycle and much more.
Globally, I have actually shown leadership and strategic expertise in assisting large-scale populations of over 100,000 employees throughout 170 countries. Presently, I are accountable for managing payroll techniques, as pointed out by Mark. My function involves handling and developing external collaborations, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As an international business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of various roles on the company side and also on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everyone originates from and I really 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 drizzling here it's very really uninspiring and I wish I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly beneficial for international organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most importantly regulations compliance information security and banking rules then there are the sheer numbers they include additional intricacy the international Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing all over the world in the standard payroll model there's typically a frustrating number of different systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in large amounts and or really extremely fundamental there's no real consistency framework we're residing in an era 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 and that simply blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more a business spends on global payroll the less of a picture they see an absence of exposure likewise reaches payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of global companies have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes improperly interacted hires and terminations along with lack management and system configurations and after that when you round everything off and the information is delivered to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the essential 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 staff members or otherwise that's a great concern I constantly toss this back and say what is it what does not need to be consisted of ideal and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy any place you look right eventually developing a knowledge base is absolutely important however 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 look at the kind 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 definitely essential and innovation is allowing us to type of progress with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is absolutely necessary that payroll and financing teams work closer together than ever um I'm always astonished when individuals state I have actually 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 divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to contribute to sort of the level of complexity there's more and more advantages being organ or being offered by organizations across the world so again you're simply wanting to add a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine challenges or real difficult sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of years I would certainly 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 groups feeding information into the next function as it were that's actually handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to produce additional handoffs at the same times that we run in they just make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any organization has from an expense viewpoint from an impact point of view on staff members it is definitely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful result on individuals's well-being and many other elements if people aren't paid uh I've always been impressed coming into this Market type of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals only discover when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. Therefore, it is vital to guarantee that jobs like Wi-Fi International and other essential matters are done properly. Utilizing the very first Global Payments first payroll payment solution is a terrific preliminary action towards offering a thorough payroll option for staff members worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and savings account essential for worldwide payroll are key factors in achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we know 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 simple as possible for everybody that's associated with those processes and likewise so imagine sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating job attempting to clean 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 check out them and actually see what was going on and sort of try to return to everybody so carrying on look why do business pick to main separate savings account there are businesses out there doing precisely this for particular nations and I have actually worked in a service or many organizations doing exactly that I can say it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not producing additional work for anyone where we don't have to and anybody that's managing that process 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 requirement I believe people have got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a process that requires taking a look at it needs altering however eventually individuals are very stuck with what they recognize
with best um change is a hard thing we all do not like modification um so I believe it's simply kind of moving far from the norm 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 checking account but there's a huge quantity of complexity opts for establishing a bank account maintaining it ensuring it can send International transfers ensuring it's established with the best user accesses for private people so the complexity is substantial however I believe the sincere answer is modification um people have not had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century or two there is a lot to track and this method does pose 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 just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you are worthy of a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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