Find out more about Papaya Global Payroll Discount ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a protected and reputable method of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, conserving me a significant quantity of time each month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
The Employee Website offers workers with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Advantages Administration
Papaya Global assists business provide competitive benefits bundles to international employees despite the number of employees in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source regional advantages suppliers in every country, develop regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall work expenses distributed per location, overall work expenses per cycle and far more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business managing and building external relationships supporting Enterprise customers and options in addition to functioning as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on providing payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've kind of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just provide everyone another couple of uh well one of 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 rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it remains 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 really very dreary and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies preserve separate
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. 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 possession for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business properly anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one country 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 information security and banking rules then there are the sheer numbers they add additional complexity the international Workforce is currently 3 and a half billion individuals by 2030 it's estimated 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 businesses and growing all doing their own thing around the world in the standard payroll design there's typically a frustrating variety of different systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely extremely standard there's no genuine consistency structure we're residing 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 often with pen and paper and that simply blows my mind every 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 state they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more a service invests in global payroll the less of a picture they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of global services have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes improperly communicated hires and terminations along with absence management and system setups and after that when you round it all off and the information is delivered to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they count on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges business face when they're paying to workers or otherwise that's an excellent question I constantly toss this back and say what is it what does not require to be consisted of right 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 have to pay from the customer's own in-country account so there's complexity any place you look best eventually building a knowledge base is definitely critical however everywhere you look with payroll payment they resemble incredibly payments no if however some children 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to kind of move forward with that it likewise as well to add to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely important that payroll and finance teams work better together than ever um I'm always amazed when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of essential to contribute to kind of the level of intricacy there's more and more benefits being organ or being used by services across the world so again you're simply seeking to add increasingly more payments to this currently intricate landscape so if you type 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 difficulties or real difficult sort of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding information into the next function as it were that's actually handling the payment side of things but you understand in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an age of tech and an age that you know that we are working in today there is no reason that we are still making this as difficult as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any company has from an expense perspective from an effect perspective on employees it is absolutely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the biggest harmful impact 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 10 years is how little thanks the
payroll group get um so I'm unsure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think 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 absolutely crucial that all of this things is done properly so leveraging the first Global Payments first payroll payment solution is a great initial step um providing an end-to-end payroll solution for your staff members internationally again I think is another big um process again aligning and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of services and lowering the variety of tools platforms and bank accounts they require for their International payroll too could not 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 do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway we know 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 everybody that's involved in those processes and also so envision sorry I'm just I was just gon na state think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions think of getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and kind of shot to get back to everyone so proceeding look why do companies choose to primary different checking account there are businesses out there doing exactly this for particular countries and I've operated in an organization or many businesses doing precisely that I can state it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not have to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think numerous factors one is it's the requirement I think 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 purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I think this is a procedure that requires taking a look at it requires changing but eventually people are really stuck with what they're familiar
with best um modification is a tough thing all of us don't like change um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having keeping several bank accounts but there's a big quantity of intricacy goes with establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is huge but I believe the sincere answer is modification um individuals haven't been able to change or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century or two there is a lot to keep an eye on and this approach does posture a number of difficulties um so Johnny might you tell us about those challenges yeah naturally so there's a variety 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 closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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