Find out more about Papaya Global Payroll Pricing ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a protected and trustworthy approach of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
The Worker Website supplies workers with the ability to access and view important documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists business offer competitive benefits packages to international employees despite the variety of workers in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source regional advantages companies in every country, create local accounts and have a minimum variety of staff members.
The HR capabilities provided by Worldwide HR include various functions such as keeping track of trip time, making sure compliance, assisting in the procedure of welcoming new staff members and bidding goodbye to leaving ones, providing a safe and secure online platform for saving workers' documents, and offering support for work allow procedures in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, total employment costs dispersed per area, overall work costs per cycle and far more.
Internationally, I have shown management and tactical knowledge in assisting massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role involves managing and establishing external partnerships, supporting Business clients, and providing advisory services. Additionally, 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 companies in the world we provide payroll payments and labor force management to all employee enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon great night depending on where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of various roles on the service provider side and likewise on the vendor side from a payroll point of view so really anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely dreary and I want I was elsewhere 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 International payroll why companies maintain different
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of keeping different savings account for payroll in various nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic 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 securely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely forecast their payroll expenses 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 hard in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of factors most significantly regulations compliance data security and banking guidelines then there are the large numbers they add more complexity the global Workforce is presently 3 and a half billion individuals 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 organizations and growing all doing their own thing all over the world in the conventional payroll model there's often an overwhelming variety of different systems causing time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or very very fundamental there's no real consistency framework we're living in an era of tech however payroll has been slow 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 every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of a picture they see a lack of presence likewise reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide companies have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors badly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the data is delivered to the wrong location the typical 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 globe payroll and payments do not run smoothly if they rely on the necessary multiple procedures 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 difficulties business face when they're paying to workers or otherwise that's a good question I constantly throw this back and state what is it what doesn't require to be consisted of best and what does
it require to be thought about there's varying 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is definitely important but everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind 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 innovation is allowing us to kind of progress with that it also as well to add to that payroll and finance need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is absolutely important that payroll and finance groups work more detailed together than ever um I'm constantly astonished when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation 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 individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high worth on wellness and the compensation landscape is becoming increasingly detailed. Organizations are constantly introducing new benefits and payment alternatives, which contributes to the overall intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can cause ineffectiveness and traffic jams. In my opinion, this does not have to hold true. In today's highly advanced age, there's no validation for maintaining troublesome procedures. Payroll, the company's biggest cost, must be processed correctly and on time. Even slight delays can negatively impact employees' wellness and have far-reaching effects. For that reason, it's vital to focus on accurate and timely payments.
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 properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle we all hear 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 exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the first Global Payments first payroll payment service is an excellent initial step um supplying an end-to-end payroll solution for your staff members internationally once again I think is another big um process once again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of businesses and decreasing the number of tools platforms and savings account they require for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 everybody that's associated with those procedures and also so think of sorry I'm just I was just gon na say picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean up 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 need days of the week to try to check out them and really see what was going on and sort of try to return to everyone so moving on appearance why do business choose to primary different savings account there are organizations out there doing exactly this for specific countries and I've operated in a company or many companies doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating additional work for anybody where we don't have to and anyone 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 think many factors one is it's the standard I believe people have got so used to we require a 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 think it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I believe this is a procedure that requires looking at it needs changing but ultimately people are extremely stuck to what they recognize
with right um modification is a tough thing all of us do not like modification um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having preserving numerous bank accounts but there's a substantial quantity of complexity goes with setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual people so the intricacy is big however I believe the honest answer is change um people have not had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've 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 understand what could practically be identified to be the next Century or two there is a lot to keep an eye on and this technique does pose a number of obstacles um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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