Find out more about Papaya Global Tel Aviv ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to handling payments. This offers us with a protected and dependable technique of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Worker Portal supplies employees with the capability to access and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is used in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits bundles to global workers regardless of the number of workers in the company. The company can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local advantages suppliers in every country, develop regional accounts and have a minimum number of workers.
The HR capabilities supplied by International HR incorporate numerous functions such as keeping an eye on trip time, guaranteeing compliance, helping with the procedure of inviting new workers and bidding farewell to leaving ones, providing a safe online platform for keeping employees' files, and supplying support for work permit procedures in case your employees require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, overall work expenses dispersed per location, overall employment expenses per cycle and a lot more.
environments around the world I supplied management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business handling and building external relationships supporting Business clients and solutions along with serving as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, 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 solutions for the past seven years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've type of had a range of different functions on the provider side and also on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody comes from and I really 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 raining here it's really extremely dreary and I want I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in enough in one nation however when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most significantly regulations compliance information security and banking guidelines then there are the sheer numbers they add additional complexity the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 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 design there's frequently an overwhelming number of various systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or extremely really basic there's no real consistency structure we're residing in a period 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 often with pen and paper and that just blows my mind every time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more a service spends on worldwide payroll the less of a picture they see a lack of visibility also reaches payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the transaction almost half of global organizations have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors improperly communicated hires and terminations along with lack management and system setups and then when you round everything off and the data is delivered to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they rely on the required several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't need to be consisted of ideal and what does
it require to be thought of there's varying Bank details 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 have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy wherever you look best ultimately developing a knowledge base is absolutely crucial but all over you look with payroll payment they are like very payments no if but some infants 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 believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to sort of move forward with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and finance teams work better together than ever um I'm constantly impressed when individuals say I've 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 divide the payroll payment from computation 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 data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to contribute to type of the level of intricacy there's a growing number of benefits being organ or being offered by companies throughout the world so once again you're simply aiming to include increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real difficulties or genuine challenging type of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of decades I would definitely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we operate in they just make them more prompt they make them less effective and they don't make them what they require to be in in an age of tech and a period that you understand that we are operating in today there is no reason that we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any organization has from an expense perspective from an effect viewpoint on employees 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 have to be done right it has the greatest damaging impact on people's wellness and lots of other factors if people aren't paid uh I have actually constantly been astonished entering this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm unsure anyone on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is a great initial step um providing an end-to-end payroll service for your employees internationally again I believe is another substantial um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely key to success success of businesses and reducing the number of tools platforms and checking account they require for their Worldwide 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 don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyhow we know 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 easy as possible for everybody that's involved in those procedures and also so envision sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions envision getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job attempting to clean up 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 need days of the week to attempt to browse them and really see what was going on and sort of shot to get back to everyone so carrying on look why do companies pick to primary separate checking account there are services out there doing precisely this for particular countries and I have actually operated in a business or many organizations doing exactly that I can state it doesn't always feel effective and it does develop more work I understand we're not deliberately doing that we're not producing additional work for anyone where we do not have to and any person that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I believe people have got so utilized to we require a 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 just been the standard and the norm the people have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires changing however ultimately people are extremely stuck with what they're familiar
with right um modification is a tough thing we all do not like change um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having keeping numerous checking account but there's a substantial amount of intricacy opts for setting up a checking account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the complexity is huge but I think the honest answer is change um people have not had the ability to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century or two there is a lot to monitor and this method does position a number of challenges um so Johnny could you tell us about those challenges yeah obviously so there's a range right there is so
I just 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 Worldwide employees you should have a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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