Find out more about Papaya Global Workday ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a protected and trustworthy approach of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Worker Website supplies employees with the ability to access and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is provided in various languages.
Benefits Administration
Papaya Global helps companies provide competitive benefits bundles to worldwide workers no matter the variety of staff members in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional advantages companies in every country, create local accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall employment costs distributed per area, overall work expenses per cycle and much more.
environments across the globe I supplied management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise clients and services as well as acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential business on the planet we provide payroll payments and labor force management to all employee key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon excellent evening depending upon where you remain in the world it's beautiful to satisfy 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've been in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually type of had a range of various functions on the service provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite 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 everybody comes from and I really do hope it's much sunnier than it is 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 really uninspiring and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business preserve different
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping different checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will also offer a recap of the bottom lines 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 international advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of factors most significantly policies compliance data security and banking rules then there are the large numbers they include further complexity the global Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the conventional payroll design there's typically a frustrating variety of different systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in large amounts and or very very standard there's no genuine consistency structure we're residing 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 frequently with pen and paper and that simply blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in international payroll the less of a picture they see an absence of presence likewise reaches payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide businesses have revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes badly interacted hires and terminations as well as lack management and system setups and then when you round all of it off and the data is shipped to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they rely on the essential several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're making payments to employees or otherwise that's an excellent question I always toss this back and say what is it what does not need to be included ideal and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 consumer's own in-country account so there's complexity wherever you look best ultimately building 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 take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and innovation is permitting us to type of progress with that it also as well to add to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely necessary that payroll and finance teams work closer together than ever um I'm always impressed when people say I've divided payroll and payment um if you stroll down the street and asked anyone 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 an industry accept that why our payroll and payments so frequently 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 people wherever they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on wellness and the payment landscape is ending up being increasingly intricate. Services are constantly presenting brand-new benefits and payment choices, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can cause ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's highly innovative age, there's no validation for maintaining cumbersome procedures. Payroll, the business's biggest expense, should be processed correctly and on time. Even small delays can adversely impact employees' well-being and have far-reaching consequences. For that reason, it's crucial to prioritize accurate and timely payments.
payroll team get um so I'm not sure anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all become aware of 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 deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment option is a fantastic initial step um providing an end-to-end payroll service for your workers worldwide once again I believe is another substantial um procedure once again aligning and ensuring you have standardization Global procedures all of those things are absolutely key to success success of organizations and lowering the number of tools platforms and bank accounts they require for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know how how important 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 everyone that's involved in those procedures and likewise so picture sorry I'm simply I was just gon na say imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job trying 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 require days of the week to try to look through them and really see what was going on and sort of shot to return to everybody so moving on look why do companies pick to primary different checking account there are businesses out there doing precisely this for particular countries and I have actually worked in an organization or many services doing exactly that I can state it does not constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing extra work for anyone where we don't need to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I believe people have actually got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs altering however eventually people are really stuck with what they're familiar
with ideal um modification is a difficult thing we all do not like modification um so I believe it's just kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having maintaining numerous savings account however there's a substantial amount of complexity chooses setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for individual people so the complexity is substantial but I think the sincere response is modification um individuals have not been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might almost be determined to be the next Century or so there is a lot to track and this method does position a number of obstacles um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I simply did you switched our Enterprise 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 International employees you deserve 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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