Find out more about Papaya Global Covid ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to handling payments. This supplies us with a secure and trustworthy technique of paying to our 10,000 workers worldwide.}
The innovative global payroll management app enhances my payroll process, conserving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Worker Portal
Employees have access to a Worker Website where they can see their pay slips, wage and tax declarations and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive benefits plans to worldwide staff members despite the variety of employees in the company. The company can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, create local accounts and have a minimum variety of workers.
The HR capabilities provided by Worldwide HR encompass different functions such as keeping track of vacation time, making sure compliance, helping with the procedure of inviting new workers and bidding goodbye to departing ones, offering a safe and secure online platform for storing employees' documents, and supplying support for work permit treatments in case your employees need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall work expenses dispersed per area, total employment expenses per cycle and far more.
environments across the globe I provided leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across the business managing and building external relationships supporting Business clients and options in addition to acting as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a satisfaction to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I have actually type of had a variety of various roles on the company side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everybody another couple of uh well among 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 interesting and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it remains 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 very gloomy and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business maintain separate
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, discover how business forecast payroll costs to enhance working capital, and find how enhancing global payroll payments can change them from a difficult task into a strategic property.
Handling payroll internationally is a challenging job due to numerous regulations, compliance requirements, information security concerns, and banking guidelines. The sheer variety of staff members and services contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems frequently result in manual processes, information silos, and an absence of combination, leading to inconsistencies and inefficiencies. Regardless of residing in an age of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and solutions to simplify and optimize international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that's another number that provides me sleepless nights and rather frankly the more a company spends on global payroll the less of a photo they see a lack of visibility likewise extends to payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of international organizations have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors badly 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 incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they count on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're making payments to staff members or otherwise that's an excellent question I constantly throw this back and state what is it what does not require to be consisted of best and what does
it require to be thought of 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 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 wherever you look right ultimately developing a knowledge base is definitely important but everywhere you look with payroll payment they are like super payments no if but some infants 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 think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is enabling us to type of move on with that it also also to contribute to that payroll and finance require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work closer together than ever um I'm constantly astonished when people say I have actually split payroll and payment um if you walk down the street and asked anybody 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 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 process it's the point of data collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to contribute to sort of the level of complexity there's increasingly more advantages being organ or being offered by organizations across the world so again you're just looking to include more and more payments to this already complex landscape so if you kind of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine tough type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would certainly say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding details into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs in the processes that we operate 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 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 difficult as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any organization has from a cost perspective from an effect point of view on workers it is definitely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest detrimental result on individuals's well-being and lots of other aspects if individuals aren't paid uh I have actually constantly been astonished entering this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle all of us hear about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe 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 absolutely essential that all of this things is done correctly so leveraging the first International Payments first payroll payment solution is an excellent primary step um supplying an end-to-end payroll option for your staff members globally once again I think is another big um procedure once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of companies and reducing the number of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyway we understand how how crucial 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 everyone that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task trying to clean up 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 attempt to check out them and in fact see what was going on and type of try to get back to everybody so carrying on look why do business choose to primary different checking account there are organizations out there doing exactly this for particular nations and I have actually operated in an organization or many services doing exactly that I can state it does not always feel effective and it does develop more work I know we're not deliberately doing that we're not creating additional work for any person where we do not have to and anyone that's handling 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 quantity that we are I think numerous factors one is it's the standard I believe individuals have got so utilized to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals 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 believe this is a process that requires looking at it requires altering however ultimately people are very stuck with what they recognize
with right um modification is a challenging thing we all don't like change um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having preserving multiple bank accounts but there's a big quantity of intricacy opts for setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the intricacy is substantial however I think the sincere response is modification um people haven't been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to monitor and this technique does pose numerous challenges um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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