Find out more about Papaya Global Crash ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different 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 staff members worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll process, conserving me a significant quantity of time monthly. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Employee Website
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive advantages bundles to global employees regardless of the number of employees in the business. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source regional advantages service providers in every country, produce regional accounts and have a minimum number of workers.
The HR abilities supplied by International HR incorporate different functions such as keeping track of vacation time, ensuring compliance, helping with the process of welcoming brand-new employees and bidding farewell to leaving ones, using a secure online platform for keeping workers' documents, and providing support for work allow treatments in case your staff members require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total work expenses distributed per place, total work costs per cycle and far more.
environments around the world I provided management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business handling and structure external relationships supporting Enterprise clients and options as well as acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most influential companies 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 discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to fulfill 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 market, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've type of had a range of different roles on the service provider side and also on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll type 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 type of like see where everybody originates 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 drizzling here it's very extremely bleak and I wish I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic asset for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most significantly regulations compliance data security and banking guidelines then there are the sheer numbers they add additional intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 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 all over the world in the traditional payroll design there's frequently an overwhelming number of different systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or really very basic there's no genuine 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 frequently with pen and paper and that simply blows my mind each time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a company invests in international payroll the less of an image they see a lack of exposure likewise extends to payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international companies have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes badly communicated hires and terminations along with lack management and system setups and after that when you round everything off and the data is shipped to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they rely on the necessary several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're paying to staff members or otherwise that's an excellent concern I always toss this back and state what is it what doesn't require to be included ideal and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 consumer's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is definitely important but all over you look with payroll payment they are like extremely payments no if however 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 believe there's now a bit more recognition that payroll payments are definitely fundamental and innovation is permitting us to kind of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work more detailed together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on well-being and the compensation landscape is becoming increasingly intricate. Services are constantly presenting new benefits and payment alternatives, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into different teams, which can result in inadequacies and traffic jams. In my opinion, this doesn't need to hold true. In today's highly innovative age, there's no reason for keeping cumbersome treatments. Payroll, the company's biggest expense, need to be processed properly and on time. Even minor delays can negatively impact staff members' well-being and have far-reaching repercussions. For that reason, it's important to prioritize accurate and prompt payments.
payroll group get um so I'm uncertain anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply 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 stuff is absolutely important that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment service is a fantastic primary step um supplying an end-to-end payroll option for your staff members globally once again I believe is another substantial um process once again lining up and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of services and reducing the variety of tools platforms and bank accounts they require for their Global 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've never ever had a hundred thousand of them within a payroll cycle do not expect 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 implied to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know how how essential a role 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 everybody that's involved in those procedures and also so envision sorry I'm just I was simply gon na state envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating task trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of shot to get back to everybody so carrying on appearance why do companies select to main different checking account there are companies out there doing precisely this for particular nations and I've operated in a business or numerous services doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing extra work for any person where we do not have to and anyone that's dealing with 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 people have got so used to we require a new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I believe this is a process that needs taking a look at it requires changing but ultimately people are very stuck to what they recognize
with right um modification is a difficult thing we all do not like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having keeping multiple bank accounts but there's a huge amount of complexity opts for establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is huge but I think the sincere response is change um people have not been able to change or haven't had always the knowledge to really make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what might practically be figured out to be the next Century or so there is a lot to monitor and this approach does posture numerous difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I 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 seems like our CFO has gotten another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion 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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