Find out more about Papaya Global Group ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and reputable method of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a substantial quantity of time each month. With its easy to use user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Worker Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and work documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive benefits packages to international workers no matter the number of staff members in the company. The business can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local advantages providers in every country, develop regional accounts and have a minimum variety of workers.
The HR abilities offered by Global HR encompass various functions such as keeping track of holiday time, making sure compliance, facilitating the procedure of inviting brand-new workers and bidding goodbye to departing ones, using a secure online platform for storing workers' files, and providing assistance for work permit treatments in case your staff members require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work costs dispersed per area, overall employment expenses per cycle and much more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work across the business managing and structure external relationships supporting Business clients and options as well as acting as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for most prominent business on the planet we provide payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon great evening depending upon where you are in the world it's lovely to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually kind of had a range of different functions on the company side and likewise on the supplier side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone 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 drizzling here it's really extremely dreary and I want I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business maintain separate
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is especially helpful for global companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different savings account for payroll in different nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset 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 securely and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly forecast their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one nation however when you're doing it globally it's next level and Beyond it becomes intricate for a range of factors most significantly policies compliance information security and banking guidelines then there are the large numbers they add additional intricacy the global Labor force is currently three and a half billion people by 2030 it's approximated 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 factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the standard payroll design there's frequently an overwhelming variety of various systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or extremely extremely basic there's no real consistency structure we're residing 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 frequently with pen and paper which simply blows my mind each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more a service invests in global payroll the less of a photo they see an absence of exposure also encompasses payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide organizations have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes badly communicated hires and terminations as well as lack management and system configurations and after that when you round all of it off and the information is shipped to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they count on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're paying to workers or otherwise that's a great question I always toss this back and say what is it what doesn't require to be included right and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is permitting us to sort of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is absolutely essential that payroll and finance teams work more detailed together than ever um I'm always astonished when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work 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 procedure 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
The contemporary world puts a high value on wellness and the settlement landscape is ending up being progressively detailed. Services are continually introducing new benefits and payment options, which contributes to the total complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can result in ineffectiveness and traffic jams. In my viewpoint, this does not need to hold true. In today's technologically innovative era, there's no validation for keeping cumbersome procedures. Payroll, the business's most significant expense, must be processed properly and on time. Even small delays can adversely impact staff members' well-being and have significant effects. For that reason, it's crucial to focus on accurate and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll during 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 a crucial cycle, and people only notice when things go wrong. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally as well. For that reason, it is necessary to make sure that jobs like Wi-Fi International and other crucial matters are done correctly. Using the very first International Payments first payroll payment option is a great initial step towards offering a thorough payroll solution for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and checking account needed for international payroll are essential factors in attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things don't go as planned. Eventually, we don't do it for the appreciation.
anyway we understand how how essential a function 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 everyone that's involved in those procedures and also so picture sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and actually see what was going on and kind of shot to get back to everyone so proceeding appearance why do business select to main separate checking account there are services out there doing precisely this for particular nations and I've operated in an organization or lots of companies doing precisely that I can say it doesn't constantly feel effective and it does produce more work I know we're not deliberately doing that we're not creating extra work for anyone where we do not have to and any person that's managing that process I 'd be interested to hear your thoughts 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 require a new bank account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I believe this is a process that needs looking at it needs changing however ultimately individuals are really stuck to what they recognize
with best um change is a challenging thing we all do not like modification um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having keeping multiple bank accounts but there's a huge quantity of intricacy goes with establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific people so the intricacy is big but I think the truthful response is change um individuals have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to change however 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 carrying on and moving into you understand what might practically be determined to be the next Century or so there is a lot to keep track of and this approach does position a number of obstacles um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this improved ability, I have effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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