Find out more about Papaya Global Payroll Logo ... 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 actually acquired a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a secure and reliable approach of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Employee Website supplies workers with the capability to access and view important 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 numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits packages to global employees regardless of the variety of workers in the business. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional advantages suppliers in every country, create local accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total employment expenses distributed per location, total work costs per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business managing and building external relationships supporting Business clients and solutions in addition to acting as a consultant for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a satisfaction 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 options for the past seven years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of different functions on the supplier side and likewise on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everybody another couple 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 simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's very really dreary and I wish I was somewhere else at this moment in time all right 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 Worldwide payroll why companies preserve separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most importantly regulations compliance information security and banking guidelines then there are the large numbers they include additional complexity the global Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in 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 frequently an overwhelming number of different systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or extremely extremely fundamental there's no genuine consistency structure we're living in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide organizations have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry mistakes badly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is delivered to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they rely on the needed numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're paying to workers or otherwise that's a good concern I constantly toss this back and say what is it what does not require to be included ideal and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is definitely crucial however all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to type of progress with that it also also to contribute to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work better together than ever um I'm constantly surprised when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from computation 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 process it's the point of information 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 live in and wellness being a growing number of essential to add to type of the level of complexity there's a growing number of advantages being organ or being used by organizations throughout the world so again you're just wanting to include 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 however have you got any experience in kind of genuine difficulties or genuine difficult kind of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a couple of decades I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding information into the next function as it were that's really handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we require to develop extra handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an era that you understand that we are working in today there is no reason why we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any service has from a cost perspective from an effect perspective on workers it is definitely important that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive result on individuals's wellness and many other elements if people aren't paid uh I've always been astonished entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle all of us find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment option is a fantastic first step um providing an end-to-end payroll option for your staff members internationally once again I believe is another substantial um process once again lining up and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of organizations and lowering the variety of tools platforms and bank accounts they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how essential 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 simple as possible for everybody that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions think of 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 certainly be a fascinating task attempting to clean all those up for sure oh absolutely 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 browse them and in fact see what was going on and sort of shot to return to everybody so moving on look why do business choose to main different checking account there are businesses out there doing exactly this for specific nations and I've operated in a company or numerous services doing precisely that I can state it doesn't constantly feel effective and it does develop more work I understand we're not purposely doing that we're not producing additional work for any person where we do not have to and anyone that's dealing with 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 numerous reasons one is it's the standard I think individuals have got so used to we need a brand-new savings account we open an entity and rightly so you need 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 standard the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a process that needs looking at it requires changing however eventually individuals are really stuck to what they recognize
with best um modification is a difficult thing we all do not like change um so I think it's simply 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 obviously the benefits of having preserving multiple savings account but there's a big quantity of intricacy chooses establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is big however I think the sincere answer is change um people have not been able to alter or have not had always the understanding to really make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might practically be determined to be the next Century approximately there is a lot to track and this method does position numerous difficulties um so Johnny could you inform us about those challenges yeah of course 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 Worldwide staff members you should have a corner office with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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