Find out more about Papaya Global Hr Software Features ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and reputable technique of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and contractors
The Worker Portal offers staff members with the capability to access and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages bundles to global workers despite the number of staff members in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source regional benefits service providers in every nation, produce regional accounts and have a minimum number of workers.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work costs dispersed per area, overall employment costs per cycle and a lot more.
environments around the world I provided 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 across business managing and structure external relationships supporting Business customers and services as well as serving as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for many influential companies worldwide we provide payroll payments and labor force management to all staff member 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 present yourself of course thank you good morning great afternoon good night depending on where you are in the world it's charming 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 have actually remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of different roles on the provider side and also on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine 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 nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it remains 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 wish I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business maintain different
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will likewise supply a wrap-up of the bottom lines 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 walk you through the international pros and cons of a payroll wallet versus a payroll savings account how business accurately forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in sufficient in one country but when you're doing it globally it's next level and Beyond it ends up being complex for a range of factors most notably policies compliance data security and banking rules then there are the sheer numbers they include more intricacy the global Labor force is currently 3 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 currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll design there's often an overwhelming number of various systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in large amounts and or really really basic there's no real consistency framework we're residing in a period of tech however 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 just blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a company invests in worldwide payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of global businesses have actually expressed 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 due to time reporting poor HCM information data entry errors poorly communicated hires and terminations in addition to absence management and system configurations and then when you round all of it off and the data is shipped to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they rely on the necessary several 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 difficulties company face when they're making payments to staff members or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be included right 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 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 client's own in-country account so there's complexity any place you look best ultimately building a knowledge base is definitely vital however all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and innovation is enabling us to type of progress with that it also also to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is definitely essential that payroll and financing teams work more detailed together than ever um I'm constantly surprised when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation 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 information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the payment landscape is becoming increasingly elaborate. Companies are continuously introducing new benefits and payment options, which contributes to the general intricacy. Big corporations frequently divide their payroll and payment processing into separate teams, which can result in inefficiencies and traffic jams. In my viewpoint, this does not need to be the case. In today's technologically innovative era, there's no validation for preserving troublesome procedures. Payroll, the company's greatest expenditure, should be processed properly and on time. Even small delays can negatively affect workers' wellness and have far-reaching effects. For that reason, it's vital to prioritize accurate and prompt payments.
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just discover when things go wrong. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's perceived externally as well. Therefore, it is important to make sure that tasks like Wi-Fi Global and other crucial matters are done correctly. Using the very first Worldwide Payments very first payroll payment option is a fantastic preliminary action towards offering a detailed payroll option for employees worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and checking account necessary for global payroll are key consider achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things do not go as planned. Eventually, we do not do it for the appreciation.
anyhow we know 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 simple as possible for everyone that's associated with those procedures and also so imagine sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and kind of shot to return to everyone so proceeding appearance why do companies choose to main different savings account there are services out there doing exactly this for specific nations and I've operated in an organization or numerous services doing precisely that I can say it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for any person where we don't have to and any person that's handling 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 numerous reasons one is it's the standard I think individuals have actually got so utilized to we require a brand-new checking 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 standard and the standard the people have embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I believe this is a process that needs looking at it needs changing but ultimately individuals are very stuck to what they're familiar
with right um modification is a tough thing we all do not like change um so I believe it's just sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having keeping numerous savings account however there's a big amount of intricacy opts for setting up a bank account preserving it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for individual individuals so the intricacy is big however I think the truthful answer is modification um people haven't had the ability to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we've 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 two there is a lot to keep track of and this technique does pose several difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I just 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 feels like our CFO has gotten another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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