Find out more about Papaya Global Crashes On Timesheet Entry ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and trusted technique of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
The Worker Portal offers employees with the ability to access and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global assists business use competitive benefits packages to worldwide workers no matter the variety of employees in the business. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits service providers in every country, create local accounts and have a minimum number of workers.
The HR capabilities supplied by Worldwide HR incorporate numerous functions such as keeping an eye on getaway time, making sure compliance, facilitating the process of welcoming new staff members and bidding farewell to leaving ones, providing a safe online platform for keeping employees' documents, and offering assistance for work permit treatments in case your staff members require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total employment expenses distributed per location, overall work expenses per cycle and far more.
Worldwide, I have actually demonstrated management and strategic expertise in directing large-scale populations of over 100,000 staff members across 170 nations. Presently, I are accountable for supervising payroll methods, as mentioned by Mark. My function includes managing and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for the majority of influential business on the planet we offer payroll payments and labor force management to all staff member 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 naturally thank you good morning excellent afternoon good evening depending on where you are in the world it's beautiful to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've sort of had a variety of different functions on the company side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business preserve different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly beneficial for international organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping different bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will likewise provide 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 international pros and cons of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most importantly guidelines compliance information security and banking rules then there are the sheer numbers they add further intricacy the global Workforce is currently three and a half billion people 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 factor in that there are some 230 million organizations and growing all doing their own thing around the world in the conventional payroll model there's often a frustrating variety of various systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or extremely extremely basic there's no genuine consistency structure we're living in an age 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 which simply blows my mind every time I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a business invests in worldwide payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of global companies 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 poor HCM data data entry errors poorly communicated hires and terminations in addition to 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 an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they depend on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles business face when they're making payments to employees or otherwise that's a great concern I always 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 about there's varying 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 abilities 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 right eventually constructing a knowledge base is definitely crucial however all over you look with payroll payment they resemble very payments no if however some infants 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 acknowledgment that payroll payments are absolutely basic and innovation is permitting us to kind of progress with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and financing groups work better together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from computation 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 individuals any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more important to add to kind of the level of complexity there's a growing number of advantages being organ or being provided by services throughout the world so again you're simply looking to include increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real obstacles or genuine difficult kind of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a couple of decades I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually handling the payment side of things however you understand 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 require to create additional handoffs in the processes that we run in they just make them more timely they make them less effective and they don't make them what they require to be in in an age of tech and an age that you understand that we are operating in today there is no reason we are still making this as tough as it needs to be concurred and rightly as you said payroll is the single biggest liability that any service has from a cost perspective from an effect viewpoint on employees it is absolutely important that it's done properly and on time so what we mean 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 damaging result on people's wellness and lots of other elements if individuals aren't paid uh I've always been amazed entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only notice when things fail. Nevertheless, when things go right, it's seen as just a routine job. This is how it's viewed externally as well. Therefore, it is necessary to ensure that tasks like Wi-Fi International and other crucial matters are done correctly. Using the first Global Payments first payroll payment solution is a fantastic initial step towards offering an extensive payroll service for employees worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and checking account required for international payroll are crucial factors in achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyhow we understand 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 easy as possible for everybody that's associated with those processes and also so imagine sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job trying 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 try to check out them and really see what was going on and type of try to return to everybody so proceeding appearance why do business choose to main separate savings account there are companies out there doing precisely this for particular countries and I have actually operated in an organization or many organizations doing precisely that I can say it doesn't always feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anyone where we don't have to and anybody that's managing 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 lots of reasons one is it's the standard I think people have got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a process that needs looking at it needs altering but ultimately people are extremely stuck with what they're familiar
with right um modification is a difficult thing all of us don't like modification um so I think it's just sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having maintaining several bank accounts however there's a big amount of intricacy chooses setting up a checking account preserving it ensuring it can send International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is big but I believe the sincere response is change um individuals haven't been able to change or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century or two there is a lot to track and this approach does present a number of challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a range 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 workers you deserve a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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