Find out more about Papaya Global Manual Payroll ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and reputable approach of making payments to our 10,000 staff members worldwide.}
The innovative global payroll management app streamlines my payroll procedure, conserving me a significant amount of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Worker Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive advantages packages to worldwide staff members no matter the number of employees in the company. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source local advantages service providers in every country, create regional accounts and have a minimum variety of staff members.
The HR capabilities supplied by Global HR encompass numerous functions such as monitoring getaway time, guaranteeing compliance, facilitating the process of inviting brand-new staff members and bidding goodbye to departing ones, offering a safe and secure online platform for saving employees' files, and providing support for work allow procedures in case your employees require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total employment costs dispersed per place, total work expenses per cycle and a lot more.
Globally, I have shown leadership and tactical expertise in guiding large-scale populations of over 100,000 staff members across 170 countries. Currently, I are accountable for overseeing payroll techniques, as mentioned by Mark. My function includes managing and establishing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
business to make the time 100 list for a lot of prominent companies in the world we provide payroll payments and labor force management to all worker enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent night depending upon where you remain in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I've kind of had a variety of various roles on the provider side and also on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind 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 sunlight is it it's not no it's it's drizzling here it's really very uninspiring and I want I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business keep different
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of preserving different checking account for payroll in different countries, virtual accounts and digital wallets use a more structured 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 property for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one country however when you're doing it globally it's next level and Beyond it ends up being complex for a variety of factors most significantly policies compliance data security and banking guidelines then there are the large numbers they include more intricacy the worldwide Workforce is currently 3 and a half billion individuals 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 services and growing all doing their own thing around the globe in the conventional payroll model there's frequently a frustrating variety of different systems causing lengthy manual processes and silos the variety of Combinations could be non-existent in big amounts and or really very basic there's no real consistency structure we're living in a period of tech however 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 just blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more a service invests in international payroll the less of a photo they see a lack of exposure likewise encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of international services have expressed 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 because of time reporting bad HCM information information entry mistakes improperly communicated hires and terminations along with lack management and system configurations and then when you round everything off and the data is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they depend on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what doesn't require to be consisted of right and what does
it require 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 amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy wherever you look best ultimately constructing a knowledge base is definitely 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 look at the type 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 basic and innovation is enabling us to kind of progress with that it also also to add to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely imperative that payroll and financing teams work better together than ever um I'm always impressed when individuals state 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 occupation would they divide the payroll payment from calculation I would say no so why do we as an industry 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 individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on well-being and the compensation landscape is ending up being significantly elaborate. Organizations are continuously introducing new advantages and payment choices, which adds to the overall intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inefficiencies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technologically innovative period, there's no reason for keeping troublesome treatments. Payroll, the business's most significant cost, should be processed properly and on time. Even slight hold-ups can adversely impact staff members' well-being and have far-reaching consequences. Therefore, it's critical to focus on precise and prompt payments.
payroll group get um so I'm not sure anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an important cycle all of us find out about it when it goes wrong everyone 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 likewise like why WI-Fi Global why all of this things is definitely crucial that all of this things is done correctly so leveraging the first Global Payments first payroll payment service is an excellent primary step um offering an end-to-end payroll solution for your staff members internationally once again I believe is another huge um process once again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of organizations and lowering the variety 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've never ever had a hundred countless them within a payroll cycle don't anticipate 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 implied to be um I do not think any of us are really doing that for for the thanks
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 easy as possible for everyone that's associated with those processes and likewise so picture sorry I'm simply I was just gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly 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 a fascinating job 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 need days of the week to try to browse them and really see what was going on and type of shot to get back to everybody so carrying on appearance why do companies choose to main different checking account there are organizations out there doing exactly this for specific nations and I've operated in a company or lots of companies doing precisely that I can say it does not always feel efficient and it does create more work I understand we're not intentionally doing that we're not developing additional work for anybody where we do not need to and any person that's managing 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 reasons one is it's the standard I believe individuals have actually got so used to we require a new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have 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 variety I believe this is a procedure that requires looking at it needs altering however ultimately individuals are very stuck to what they're familiar
with ideal um change 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've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having maintaining multiple bank accounts but there's a substantial amount of intricacy goes with establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for individual people so the complexity is huge but I think the sincere response is modification um people have not had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century approximately there is a lot to monitor and this approach does present several challenges um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your achievements.
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