Find out more about Savings With Papaya Global Hr Software ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a secure and reputable approach of paying to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app simplifies my payroll procedure, saving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Employee Website
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive benefits plans to global employees regardless of the variety of staff members in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source regional benefits service providers in every country, produce regional accounts and have a minimum variety of staff members.
The HR capabilities offered by International HR encompass various functions such as monitoring holiday time, ensuring compliance, helping with the procedure of welcoming brand-new staff members and bidding farewell to departing ones, offering a safe online platform for keeping workers' documents, and providing assistance for work permit procedures in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, overall work expenses dispersed per area, total work costs per cycle and a lot more.
environments around the world I supplied management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and solutions along with serving as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We specialize in offering payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've type of had a range of various functions on the company side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine 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 these days so we'll kind of let them do that so it 'd be quite fascinating 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 raining here it's really very dreary and I want I was somewhere else at this moment in time okay 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 handling Global payroll why business preserve separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in sufficient in one nation but when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they add additional intricacy the global Workforce 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 people 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 around the world in the conventional payroll model there's frequently a frustrating number of various systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in large amounts and or extremely really standard there's no genuine consistency structure we're living 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 which just blows my mind whenever I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more a company invests in international payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide companies have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors improperly communicated hires and terminations along with lack management and system setups and then when you round everything off and the information is delivered to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they rely on the necessary multiple 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 challenges business face when they're paying to workers or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't 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 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 need to pay from the customer's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is absolutely critical however all over you look with payroll payment they are like incredibly payments no if but some infants 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 acknowledgment that payroll payments are absolutely essential and innovation is permitting us to kind of move forward with that it also also to contribute to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely imperative that payroll and finance teams work closer together than ever um I'm constantly astonished when people state 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 split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often 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 individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more crucial to add to kind of the level of intricacy there's increasingly more benefits being organ or being offered by businesses throughout the world so once again you're just seeking to add increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine challenges or real difficult kind of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of years I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we require to develop additional handoffs in the processes that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and a period that you understand that we are working in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any service has from an expense viewpoint from an impact viewpoint on workers 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 greatest harmful impact on individuals's wellness and numerous other aspects if people aren't paid uh I have actually constantly been amazed entering this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this things is done correctly so leveraging the very first International Payments very first payroll payment option is an excellent first step um supplying an end-to-end payroll solution for your staff members worldwide once again I believe is another substantial um process once again lining up and ensuring you have standardization International processes all of those things are definitely essential to success success of businesses and lowering 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 regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five 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 believe any of us are really doing that for for the thanks
anyway 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 everybody that's involved in those procedures and also so picture sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and type of shot to return to everyone so carrying on look why do companies pick to primary different bank accounts there are services out there doing precisely this for particular nations and I've worked in a company or many companies doing precisely that I can say it doesn't always feel effective and it does produce more work I understand we're not intentionally doing that we're not developing extra work for anyone where we don't have to and any person that's dealing with 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 amount that we are I believe lots of factors one is it's the standard I believe people have got so utilized to we need a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I think this is a process that needs taking a look at it needs changing however eventually individuals are very stuck to what they're familiar
with ideal um change is a difficult thing all of us don't like modification um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having keeping numerous bank accounts but there's a huge amount of complexity goes with setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is substantial but I think the truthful response is change um people haven't been able to change or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I believe you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be identified to be the next Century approximately there is a lot to keep an eye on and this method does posture a number of difficulties um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your achievements.
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