Find out more about Papaya Global Payroll Agent Information ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a protected and reliable method of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Employee Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax declarations and employment files. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits packages to worldwide workers regardless of the number of employees in the business. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every nation, produce local accounts and have a minimum number of employees.
The HR capabilities offered by Worldwide HR incorporate different functions such as keeping an eye on trip time, making sure compliance, facilitating the process of inviting new employees and bidding goodbye to departing ones, offering a protected online platform for storing workers' documents, and supplying support for work permit procedures in case your employees require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total employment costs dispersed per place, total work expenses per cycle and much more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across business handling and building external relationships supporting Business customers and options along with functioning as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential business in the world we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good evening depending upon where you remain in the world it's beautiful 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've remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually kind of had a range of various roles on the provider side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so 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 sort of like see where everyone originates from and I truly 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 raining here it's extremely very bleak and I want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies maintain different
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in enough in one country but when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of reasons most significantly regulations compliance data security and banking rules then there are the sheer numbers they add additional intricacy the worldwide Labor force is currently three and a half billion people by 2030 it's estimated 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 consider that there are some 230 million businesses and growing all doing their own thing all over the world in the standard payroll design there's typically an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in big quantities and or extremely extremely fundamental there's no genuine consistency framework we're living in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that offers me sleepless nights and quite honestly the more an organization spends on worldwide payroll the less of an image they see an absence of visibility also extends to payroll payments and inability to precisely track these payments can cause 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 procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes improperly communicated hires and terminations along with absence management and system setups and then when you round it all off and the information is delivered to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they rely on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they're making payments to workers or otherwise that's an excellent concern I constantly toss this back and state 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 country 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 consumer's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is absolutely crucial however all over you look with payroll payment they resemble super payments no if but some babies 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 believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to kind of move forward with that it likewise also to add to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is absolutely necessary that payroll and financing groups work better together than ever um I'm always astonished when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more important to add to sort of the level of complexity there's a growing number of advantages being organ or being provided by companies throughout the world so again you're just looking to include a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine challenges or real difficult sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce additional handoffs in the processes that we run in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an era of tech and an age that you understand that we are working in today there is no reason that we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single greatest liability that any organization has from a cost viewpoint from an effect perspective on workers it is absolutely critical 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 need to be done right it has the greatest harmful effect on people's well-being and many other elements if people aren't paid uh I've constantly been surprised entering this Market kind of the last 5 to ten years is how little thanks the
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 individuals just observe when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally as well. For that reason, it is necessary to ensure that jobs like Wi-Fi International and other vital matters are done correctly. Utilizing the first International Payments first payroll payment service is a great preliminary step towards providing a detailed payroll service for employees worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and bank accounts necessary for worldwide payroll are essential consider attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyhow we understand how how important 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 everybody that's associated with those procedures and also so picture sorry I'm simply I was just gon na say think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task attempting 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 look through them and in fact see what was going on and kind of try to return to everyone so proceeding look why do business select to main separate checking account there are businesses out there doing exactly this for particular nations and I have actually worked in a service or many services doing exactly that I can state it doesn't constantly feel effective and it does create more work I know we're not purposely doing that we're not creating extra work for anyone where we don't have to and anyone 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 amount that we are I believe many factors one is it's the requirement I believe individuals have got so utilized to we need a new bank account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have adopted 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 many other methods um to to sort of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires altering however ultimately people are very stuck to what they recognize
with right um change is a challenging thing we all do not like modification um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having preserving numerous savings account however there's a big amount of intricacy goes with setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for individual people so the intricacy is substantial however I think the honest answer is change um people haven't been able to change or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could practically be determined to be the next Century or so there is a lot to keep track of and this approach does position numerous difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this improved ability, I have effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your achievements.
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