Find out more about Papaya Global דרושים ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and trusted technique of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Employee Portal provides employees with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive advantages packages to international employees regardless of the number of staff members in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local benefits suppliers in every nation, produce regional accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR incorporate various functions such as monitoring trip time, making sure compliance, assisting in the process of welcoming new employees and bidding farewell to leaving ones, using a safe online platform for saving employees' files, and supplying support for work permit procedures in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall work expenses distributed per location, total work costs per cycle and much more.
Internationally, I have demonstrated management and tactical know-how in guiding massive populations of over 100,000 staff members across 170 nations. Currently, I are accountable for supervising payroll strategies, as mentioned by Mark. My role includes handling and establishing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for most influential companies on the planet we supply payroll payments and labor force management to all employee key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon great evening depending on where you are in the world it's charming to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually sort of had a variety of different roles on the provider side and also on the supplier side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everybody another couple 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 intriguing 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 everybody originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely gloomy and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why business keep separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly helpful for international companies with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic asset 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 safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in enough in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the sheer numbers they add more complexity the global Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 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 world in the conventional payroll model there's frequently a frustrating variety of various systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or extremely extremely fundamental there's no genuine consistency structure we're residing in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a business invests in international payroll the less of an image they see a lack of visibility likewise encompasses payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of global companies have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors poorly interacted hires and terminations as well as absence management and system setups and then when you round everything off and the data is delivered to the wrong location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint 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 constantly toss this back and say what is it what doesn't need to be consisted of best 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 timespan there's payment abilities 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 customer's own in-country account so there's intricacy anywhere you look best eventually constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if however 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 believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is allowing us to type of progress with that it also also to add to that payroll and financing need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm always astonished when individuals say I have actually split 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 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 process it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on wellness and the payment landscape is ending up being progressively complex. Organizations are constantly presenting brand-new benefits and payment choices, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into different teams, which can lead to inefficiencies and bottlenecks. In my opinion, this does not need to hold true. In today's technologically sophisticated era, there's no reason for preserving troublesome procedures. Payroll, the business's most significant expenditure, must be processed properly and on time. Even minor delays can adversely affect workers' wellness and have significant consequences. For that reason, it's important to prioritize accurate and prompt payments.
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only discover when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally too. For that reason, it is important to ensure that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Using the first Worldwide Payments very first payroll payment option is a terrific preliminary action towards offering an extensive payroll service for workers worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and savings account required for international payroll are essential consider attaining business 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 prepared. Ultimately, we don't do it for the thankfulness.
anyhow we understand 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 processes and also so picture sorry I'm simply I was just 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 discussing numerous thousands potentially Millions envision 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 an interesting task trying to clean 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 require days of the week to attempt to look through them and really see what was going on and kind of try to return to everyone so proceeding appearance why do business pick to primary different checking account there are businesses out there doing exactly this for specific countries and I've operated in a company or lots of organizations doing precisely that I can say 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 any person where we don't need to and anybody that's dealing with that process 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 believe lots of factors one is it's the requirement I think people have got so utilized to we need a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a process that needs looking at it needs altering however ultimately individuals are very stuck to what they recognize
with right um modification is a tough thing we all do not like modification um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having maintaining numerous savings account but there's a big amount of intricacy opts for establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for private people so the complexity is substantial but I believe the sincere answer is change um people have not been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century or so there is a lot to keep an eye on and this approach does present 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 just 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 Worldwide staff members you should have a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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