Find out more about Papaya Global Payroll Holiday Pay ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and secure and dependable technique of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Staff member Website offers staff members with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to worldwide workers despite the number of workers in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages providers in every country, create regional accounts and have a minimum variety of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total work expenses dispersed per place, total employment costs per cycle and a lot more.
environments around the world I supplied leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business managing and building external relationships supporting Business clients and options along with functioning as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for a lot of prominent companies worldwide we supply payroll payments and labor force management to all staff member key ins 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 introduce yourself of course thank you good morning good afternoon excellent night depending upon where you are in the world it's lovely 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 ten years and specifically working on the payroll and payment sector for over seven years um I was amazed by the complexity the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've type of had a variety of different functions on the service provider side and also on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody 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 very very uninspiring and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll also review a recap and that should leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being increasingly more typical and managing them ends up being increasingly more complex Global organizations are wanting to discover Solutions and new methods to improve procedures specifically from a payroll and cross-border payment viewpoint many companies keep separate bank account just for payroll while some have several accounts in different countries does it make sense for business to maintain separate checking account often in different countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting international companies improve the episode complex procedures of
making payroll payments precisely effectively safely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how business accurately forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one nation however when you're doing it internationally it's next level and Beyond it becomes complex for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the large numbers they add more complexity the worldwide Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll model there's often a frustrating variety of different systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or extremely really basic there's no genuine consistency framework we're residing in an era 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 typically with pen and paper which just blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more a business invests in international payroll the less of a photo they see a lack of presence likewise extends to payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global organizations have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors poorly interacted hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the incorrect place the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they depend on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're paying to workers or otherwise that's a great concern I constantly throw this back and state what is it what does not require to be included best and what does
it need to be thought about there's differing Bank details 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 need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look best ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they are like super payments no if however some babies 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 progress with that it also as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and financing groups work better together than ever um I'm always surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation 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 process it's the point of data collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of important to add to kind of the level of complexity there's increasingly more advantages being organ or being used by companies throughout the world so again you're simply aiming to add increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real challenges or real tough kind of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would certainly say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding information into the next function as it were that's in fact managing the payment side of things however you understand 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 need to develop additional handoffs in the processes that we run in they just make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and a period that you understand that we are operating in today there is no reason we are still making this as tough as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any organization has from a cost viewpoint from an impact viewpoint on employees it is absolutely vital that it's done correctly 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 detrimental result on people's wellness and lots of other factors if people aren't paid uh I have actually constantly been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has actually 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 only discover when things go wrong. Nevertheless, when things go right, it's seen as simply a routine job. This is how it's viewed externally as well. For that reason, it is important to make sure that tasks like Wi-Fi Global and other essential matters are done properly. Utilizing the very first Worldwide Payments first payroll payment service is a great initial action towards providing a comprehensive payroll solution for staff members worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and savings account necessary for international payroll are key factors in accomplishing organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as prepared. Ultimately, we do not do it for the appreciation.
anyway we understand how how important a role 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 everybody that's associated with those processes and likewise so envision sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions picture getting that numerous thank you notes um I indicate 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 envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and actually see what was going on and sort of try to return to everybody so moving on appearance why do business choose to main different bank accounts there are businesses out there doing precisely this for specific nations and I have actually operated in a company or many businesses doing precisely that I can say it does not always feel efficient and it does develop more work I know we're not intentionally doing that we're not developing additional work for anyone where we do not need to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I think people have actually got so used to we need a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I believe this is a procedure that needs looking at it requires altering however eventually individuals are really stuck with what they recognize
with right um change is a hard thing all of us do not like change um so I believe it's just 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 benefits of having keeping numerous bank accounts however there's a substantial quantity of intricacy goes with establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for specific individuals so the complexity is substantial but I think the sincere response is modification um people have not had the ability to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century approximately there is a lot to keep track of and this method does posture a number of difficulties um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I just did you changed our Enterprise 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 International staff members 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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