Find out more about Papaya Global Payroll Debit Card ... 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 different Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and secure and trustworthy approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll procedure, saving me a significant amount of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Worker Website provides employees with the capability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to global employees no matter the variety of staff members in the business. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source regional advantages companies in every nation, create local accounts and have a minimum variety of workers.
The HR capabilities provided by Worldwide HR incorporate different functions such as monitoring trip time, ensuring compliance, helping with the process of inviting brand-new workers and bidding goodbye to departing ones, using a secure online platform for saving workers' files, and providing support for work allow treatments in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total employment expenses distributed per area, total employment expenses per cycle and much more.
Internationally, I have actually demonstrated leadership and tactical competence in guiding massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My function includes managing and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for most prominent companies in the world we supply payroll payments and labor force management to all worker enters over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon excellent evening depending upon where you are in the world it's beautiful to satisfy 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've been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've kind of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or so 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 intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it is 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 really very gloomy and I wish I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in enough in one nation but when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most notably policies compliance information security and banking rules then there are the large numbers they add further complexity the international Labor force is presently 3 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 factor in that there are some 230 million companies and growing all doing their own thing worldwide in the traditional payroll model there's frequently an overwhelming variety of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or really really fundamental there's no genuine consistency framework we're residing in an age of tech however payroll has actually been sluggish 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 each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a company invests in global payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide businesses have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors improperly interacted hires and terminations as well as lack management and system configurations and then when you round everything off and the data is delivered to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they count on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's a good concern I constantly throw this back and say what is it what does not need to be consisted of ideal and what does
it need to be thought of 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 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 client's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 sort of move on with that it likewise also to add to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm constantly impressed when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split 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 procedure it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the compensation landscape is becoming progressively elaborate. Services are constantly introducing brand-new advantages and payment choices, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and bottlenecks. In my viewpoint, this does not need to be the case. In today's technically innovative era, there's no validation for keeping cumbersome treatments. Payroll, the business's greatest expenditure, must be processed correctly and on time. Even slight delays can negatively impact employees' well-being and have far-reaching effects. Therefore, it's important to prioritize precise and prompt payments.
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally as well. Therefore, it is necessary to make sure that jobs like Wi-Fi International and other crucial matters are done correctly. Using the very first International Payments first payroll payment option is a terrific preliminary action towards offering an extensive payroll option for employees worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and checking account essential for global payroll are essential factors in achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyway we know how how crucial 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 easy as possible for everyone that's involved in those processes and also so think of sorry I'm simply I was simply gon na state think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task attempting to clean all those up for sure oh definitely 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 attempt to browse them and in fact see what was going on and kind of try to return to everyone so proceeding look why do companies choose to main different checking account there are companies out there doing exactly this for specific countries and I have actually operated in a business or numerous services doing exactly that I can say it does not constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not producing additional work for any person where we don't need to and anybody that's handling that process 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 reasons one is it's the standard I think individuals have actually got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it needs changing but eventually people are extremely stuck to what they're familiar
with best um change is a challenging thing all of us do not like change um so I believe it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having preserving several checking account but there's a huge amount of intricacy opts for setting up a checking account preserving it ensuring it can send International transfers ensuring it's established with the right user accesses for private individuals so the complexity is big but I think the truthful answer is change um people haven't been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century or two there is a lot to monitor and this method does present a number of obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you should have a corner office with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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