Find out more about Papaya Global For Improved Hr Efficiency ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a protected and trustworthy approach of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app streamlines my payroll process, conserving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Worker Portal supplies staff members with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive advantages packages to international workers no matter the number of employees in the business. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local benefits service providers in every country, create regional accounts and have a minimum variety of employees.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall employment costs dispersed per place, total employment expenses per cycle and a lot more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business managing and building external relationships supporting Enterprise customers and options along with acting as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment services for the past 7 years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've type of had a variety of different functions on the provider side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody comes from and I truly 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 drizzling here it's extremely really gloomy and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies maintain different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially useful for international organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving different savings account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will likewise offer 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 during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most significantly regulations compliance information security and banking rules then there are the large numbers they add additional intricacy the international Workforce is presently 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 currently 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 world in the standard payroll model there's often a frustrating variety of different systems leading to lengthy manual processes and silos the number of Combinations could be non-existent in big amounts and or extremely extremely standard there's no genuine consistency structure we're living in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather frankly the more a business spends on worldwide payroll the less of an image they see an absence of exposure also reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide services have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to 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 all of it off and the data is delivered to the incorrect place the typical cost 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 worldwide payroll and payments don't run smoothly if they depend on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties business face when they're making payments to workers or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be included best and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 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 resemble incredibly payments no if however some babies 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 think there's now a bit more recognition that payroll payments are definitely basic and technology is enabling us to kind of move forward with that it likewise as well to add to that payroll and finance require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely essential that payroll and finance teams work better together than ever um I'm constantly amazed when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession 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 often 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to add to type of the level of complexity there's more and more benefits being organ or being offered by organizations throughout the world so again you're simply wanting to add increasingly more payments to this currently intricate landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine obstacles or genuine difficult kind of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a couple of decades I would definitely state that the larger a business gets the more it tends to segregate the payroll and the payments functions 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 managing 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 require to create extra handoffs in the processes that we run in they just make them more timely they make them less efficient and they do not make them what they require 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 hard as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any business has from a cost perspective from an impact point of view on staff members it is definitely important that it's done correctly and on time so what we mean 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 result on individuals's wellness and lots of other factors if people aren't paid uh I've always been astonished entering into this Market kind of the last five to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only see when things fail. However, when things go right, it's viewed as just a routine job. This is how it's perceived externally as well. Therefore, it is important to make sure that jobs like Wi-Fi Global and other vital matters are done properly. Using the very first International Payments first payroll payment service is an excellent preliminary action towards offering a comprehensive payroll option for employees worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and bank accounts needed for global payroll are key factors in attaining company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyway we know how how crucial 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 associated with those processes and also so think of sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision 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 absolutely be an interesting job attempting to clean all those up for sure oh absolutely 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 try to browse them and actually see what was going on and type of try to return to everyone so carrying on appearance why do business pick to primary separate savings account there are organizations out there doing exactly this for particular countries and I've operated in a business or lots of organizations doing precisely that I can say it doesn't always feel effective and it does produce more work I understand we're not intentionally doing that we're not producing extra work for anyone where we don't need to and any person 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 amount that we are I think many reasons one is it's the requirement I believe individuals have actually got so utilized to we need a brand-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 requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I believe this is a process that requires looking at it requires altering but eventually individuals are really stuck to what they're familiar
with best um modification is a tough thing all of us don't like modification um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having keeping multiple checking account however there's a substantial amount of complexity opts for establishing a checking account keeping it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is substantial but I believe the truthful response is change um individuals haven't had the ability to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to keep an eye on and this technique does posture several obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I just did you switched 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 Worldwide employees 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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