Find out more about Papaya Global Payroll Holidays ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and trusted method of making payments to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll procedure, saving me a considerable quantity of time every month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Staff member Portal supplies employees with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Advantages Administration
Papaya Global assists business use competitive advantages packages to international employees despite the variety of employees in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local advantages providers in every country, create regional accounts and have a minimum number of staff members.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, overall employment costs distributed per location, overall employment expenses per cycle and a lot more.
Worldwide, I have actually shown management and tactical proficiency in directing massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for supervising payroll methods, as pointed out by Mark. My role includes managing and developing external partnerships, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for the majority of prominent business worldwide we supply payroll payments and workforce management to all employee enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon great night depending on where you are in the world it's lovely to fulfill 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 particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually kind of had a range of different functions on the supplier side and also on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly 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 drizzling here it's very extremely dreary and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies maintain different
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving different checking account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in adequate in one country however when you're doing it internationally it's next level and Beyond it becomes complex for a range of reasons most significantly guidelines compliance data security and banking rules then there are the sheer numbers they include more intricacy the global Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll design there's typically an overwhelming number of different systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or extremely extremely basic there's no genuine consistency structure we're living in a period 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 often with pen and paper which simply blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more a company invests in international payroll the less of an image they see an absence of presence also reaches payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of international services have revealed that they do not 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 bad HCM information data entry errors improperly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the information is shipped to the wrong location the average cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the required numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're making payments to staff members or otherwise that's a great concern I always toss this back and say what is it what doesn't require to be consisted of ideal and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 anywhere you look ideal ultimately developing a knowledge base is definitely vital however 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 recognition that payroll payments are absolutely basic and innovation is permitting us to sort of move forward with that it also too to contribute to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work closer together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market 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 information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to add to type of the level of complexity there's increasingly more benefits being organ or being used by companies throughout the world so once again you're simply wanting to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine challenges or real challenging kind of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would certainly state that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we require to produce additional handoffs at the same times that we operate 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 age of tech and an age that you know that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any company has from an expense viewpoint from an impact viewpoint on staff members it is definitely 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 biggest harmful effect on people's well-being and lots of other factors if people aren't paid uh I've constantly been amazed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just notice when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's viewed externally as well. Therefore, it is important to guarantee that tasks like Wi-Fi International and other essential matters are done properly. Using the very first International Payments first payroll payment solution is a terrific initial step towards supplying a thorough payroll service for workers worldwide. Standardization, international procedures, and reducing the number of tools, platforms, and bank accounts needed for international payroll are essential factors in achieving business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as planned. Ultimately, we don't do it for the thankfulness.
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 simple as possible for everyone that's associated with those procedures and likewise so picture sorry I'm just I was simply gon na state envision the quantity 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 numerous thousands potentially Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing job 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 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 moving on look why do companies pick to main separate checking account there are services out there doing exactly this for particular countries and I have actually worked in a service or many companies doing precisely 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 developing additional work for any person where we do not have to and anybody that's dealing with 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 factors one is it's the standard I believe people have actually got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a procedure that requires looking at it requires changing but ultimately individuals are extremely stuck with what they're familiar
with best um change is a challenging thing all of us don't like modification um so I believe it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having preserving several savings account but there's a huge amount of complexity 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 specific individuals so the complexity is huge but I believe the sincere response is modification um people haven't had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you know and there is an element of resistance to alter however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century or two there is a lot to keep an eye on and this method does pose a number of obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this improved capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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