Find out more about Papaya Global Layoffs ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and reliable method of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app improves my payroll procedure, conserving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
The Worker Portal offers staff members with the capability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global assists business use competitive advantages bundles to worldwide staff members no matter the number of workers in the business. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source local benefits providers in every country, produce local accounts and have a minimum number of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work costs distributed per location, overall work costs per cycle and far more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and building external relationships supporting Enterprise clients and solutions along with serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent companies worldwide we supply payroll payments and labor force management to all employee 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 of course thank you good morning excellent afternoon great night depending upon where you are in the world it's charming to meet 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 industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
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 range of various functions on the company side and also on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting 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 really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really very uninspiring and I want I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business preserve different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over 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 accurately effectively securely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business properly anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in enough in one country but when you're doing it globally it's next level and Beyond it becomes complex for a variety of reasons most significantly guidelines compliance data security and banking rules then there are the large numbers they add additional intricacy the international Labor force is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the standard payroll design there's often a frustrating variety of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or really extremely basic there's no real consistency structure we're living in a period of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a company invests in international payroll the less of an image they see a lack of presence likewise reaches payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the deal almost half of international services have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes inadequately communicated hires and terminations as well as lack management and system setups and then when you round all of it off and the information is delivered to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they depend on the needed several 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 organization face when they're paying to staff members or otherwise that's an excellent concern I always toss this back and state what is it what doesn't need to be included right and what does
it need 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 client's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind 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 essential and innovation is permitting us to type of progress with that it also too to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely necessary that payroll and financing teams work closer together than ever um I'm constantly surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being used by businesses across the world so once again you're just seeking to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or genuine challenging sort of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding details into the next function as it were that's really managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to produce extra handoffs in the processes that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any organization has from an expense viewpoint from an effect viewpoint on staff members it is absolutely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on individuals's wellness and lots of other elements if individuals aren't paid uh I have actually always been surprised entering into this Market type of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone 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 important cycle, and people just notice when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally too. For that reason, it is vital to guarantee that tasks like Wi-Fi Global and other important matters are done properly. Utilizing the very first International Payments very first payroll payment option is an excellent preliminary action towards providing a comprehensive payroll solution for staff members worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and bank accounts needed for global payroll are crucial consider achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things do not go as planned. Ultimately, we do not do it for the appreciation.
anyway we understand how how essential 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 everybody that's associated with those processes and likewise so think of sorry I'm simply I was simply gon na state envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating 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 was the case um you 'd require days of the week to attempt to browse them and in fact see what was going on and kind of try to return to everybody so proceeding appearance why do companies pick to main separate bank accounts there are organizations out there doing exactly this for particular nations and I have actually worked in a service or many organizations doing exactly that I can say it does not always feel efficient and it does develop more work I understand we're not purposely doing that we're not creating additional work for any person where we do not need to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think 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 believe people have actually got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a range I think this is a process that requires looking at it needs changing however ultimately individuals are very stuck with what they're familiar
with right um modification is a challenging thing we all don't like modification 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 lot of track of stuff um I understand clearly the benefits of having maintaining numerous bank accounts however there's a big amount of intricacy goes with establishing a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the intricacy is big however I believe the sincere answer is change um people have not had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to alter however we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century or two there is a lot to keep track of and this technique does pose a number of difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I simply did you switched 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 Global staff members you deserve a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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