Find out more about Papaya Global Hr 100M Partners ... 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 gotten a different Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and trusted approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app improves my payroll process, conserving me a significant quantity of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
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 numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive benefits packages to international workers no matter the variety of employees in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional advantages suppliers in every country, produce local accounts and have a minimum number of workers.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall employment costs distributed per location, overall employment costs per cycle and far more.
Worldwide, I have actually demonstrated management and tactical knowledge in assisting large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for supervising payroll techniques, as discussed by Mark. My role includes managing and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for most influential business in the world we offer payroll payments and workforce management to all worker enters over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon great evening depending on where you are in the world it's charming to fulfill you and thank you quite for your time as Ian said 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 7 years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've sort of had a range of various roles on the supplier side and likewise on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds or so 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 type of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really extremely uninspiring and I want I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical asset uh we'll likewise review a recap and that needs to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being increasingly more common and handling them ends up being more and more complicated International organizations are seeking to find Solutions and brand-new ways to streamline procedures especially from a payroll and cross-border payment viewpoint numerous organizations keep different savings account just for payroll while some have several accounts in various nations does it make sense for companies to maintain different checking account often in various nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business improve the episode complex procedures of
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of factors most significantly regulations compliance information security and banking rules then there are the sheer numbers they include more intricacy the worldwide Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 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 around the world in the traditional payroll model there's frequently an overwhelming variety of various systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely very 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 often with pen and paper and that simply blows my mind every 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 Labor force data in real time that's another number that gives me sleep deprived nights and rather honestly the more a company invests in international payroll the less of a photo they see an absence of exposure also extends to payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of international businesses 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 because of time reporting bad HCM information data entry errors improperly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is shipped to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they depend on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges business face when they're paying to employees or otherwise that's an excellent question I always throw this back and say what is it what doesn't require to be consisted of right and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is absolutely important however everywhere you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link 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 technology is allowing us to type of move forward with that it likewise also to add to that payroll and financing require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely essential that payroll and financing groups work better together than ever um I'm constantly amazed when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession 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 frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information 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
The contemporary world positions a high value on well-being and the payment landscape is ending up being progressively complex. Businesses are continually introducing brand-new advantages and payment alternatives, which adds to the general complexity. Big corporations often divide their payroll and payment processing into different groups, which can lead to ineffectiveness and traffic jams. In my opinion, this doesn't have to hold true. In today's technically advanced age, there's no reason for maintaining troublesome treatments. Payroll, the company's greatest expenditure, should be processed correctly and on time. Even small hold-ups can negatively impact employees' well-being and have significant consequences. For that reason, it's crucial to prioritize accurate and timely payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle we all become aware of it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the first International Payments very first payroll payment solution is a great primary step um supplying an end-to-end payroll option for your employees worldwide again I think is another substantial um process once again lining up and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of organizations and reducing the variety of tools platforms and bank accounts they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyway we understand how how crucial 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 processes and likewise so envision sorry I'm just I was simply gon na say envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands potentially 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 but it would definitely be a fascinating task trying to clean up 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 check out them and actually see what was going on and sort of try to get back to everyone so moving on look why do business choose to primary separate checking account there are businesses out there doing precisely this for specific nations and I've operated in a service or numerous businesses doing precisely that I can say it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not developing additional work for any person where we do not need to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe lots of factors one is it's the standard I believe people have got so used to we require a new checking account we open an entity and rightly 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 standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I believe this is a procedure that requires looking at it needs altering but ultimately people are very stuck to what they recognize
with ideal um change is a difficult thing we all do not like change um so I believe it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping several savings account but there's a big amount of complexity chooses setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the complexity is big but I think the honest answer is modification um people haven't had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century or so there is a lot to track and this approach does pose numerous difficulties um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I just did you changed our Business 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 staff members you are worthy of a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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