Find out more about Papaya Global Payroll Services Reviews ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and reputable approach of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app simplifies my payroll procedure, conserving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
The Staff member Website offers employees with the capability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps business offer competitive benefits packages to international workers regardless of the variety of employees in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local benefits service providers in every country, develop regional accounts and have a minimum number of workers.
The HR capabilities offered by Global HR include numerous functions such as keeping an eye on getaway time, making sure compliance, helping with the procedure of welcoming new workers and bidding goodbye to leaving ones, providing a protected online platform for storing employees' documents, and offering support for work permit treatments in case your staff members require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall work expenses dispersed per place, overall work costs per cycle and a lot more.
Worldwide, I have actually shown leadership and tactical knowledge in guiding massive populations of over 100,000 staff members across 170 countries. Presently, I are accountable for overseeing payroll methods, as mentioned by Mark. My role includes handling and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
company to make the time 100 list for a lot of influential companies in the world we supply payroll payments and labor force management to all employee enters over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon great evening depending on where you are in the world it's lovely to meet 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 interested by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually sort of had a variety of different roles on the company side and likewise on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely dreary and I wish I was elsewhere at this moment in time alright 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 Global payroll why companies keep separate
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic asset 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 safely and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one nation however when you're doing it internationally it's next level and Beyond it becomes complicated for a range of reasons most importantly policies compliance information security and banking rules then there are the sheer numbers they include additional complexity the international Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the conventional payroll design there's frequently an overwhelming number of various systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in large amounts and or very very fundamental there's no genuine consistency framework we're residing in an age of tech however payroll has been slow 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 every 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 organizations say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization invests in worldwide payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of international organizations have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once 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 needed numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're making payments to employees 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 best and what does
it require 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 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 need to pay from the client's own in-country account so there's intricacy anywhere you look right eventually developing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is permitting us to sort of move on with that it also also to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and finance teams work better together than ever um I'm always astonished when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession 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 procedure it's the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to contribute to type of the level of complexity there's increasingly more benefits being organ or being used by businesses throughout the world so once again you're simply wanting to add more and more payments to this already complicated landscape so if you kind 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 real difficulties or genuine difficult kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would definitely state 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 really handling the payment side of things however you understand 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 need to develop extra handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an age of tech and an era that you understand that we are operating in today there is no reason why we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any company has from an expense perspective from an effect point of view on staff members it is definitely crucial that it's done properly and on time so what we suggest 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 destructive effect on individuals's well-being and many other factors if individuals aren't paid uh I've always been amazed entering this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle we all find out about it when it fails everybody jumps up and down when it fails however 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 stuff is absolutely important that all of this stuff is done properly so leveraging the first International Payments very first payroll payment service is a terrific initial step um providing an end-to-end payroll option for your workers internationally once again I think is another substantial um process once again aligning and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of companies and reducing the variety of tools platforms and savings account they need 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 had a hundred countless them within a payroll cycle don't 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 indicated to be um I do not think any of us are actually doing that for for the thanks
anyway we understand how how important 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 everyone that's associated with those procedures and likewise so imagine sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions imagine 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 certainly be a fascinating task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and actually see what was going on and type of try to return to everyone so moving on look why do business select to main separate checking account there are businesses out there doing precisely this for particular countries and I have actually worked in an organization or many companies doing precisely that I can state it does not constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not developing extra work for any person where we don't need to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I believe individuals have got so utilized to we require a brand-new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have adopted and continue to do over years and years gone past to contribute to that people have 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 believe this is a procedure that requires taking a look at it needs altering but ultimately individuals are very stuck with what they recognize
with right um change is a hard thing all of us do not like modification um so I believe it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having maintaining multiple savings account however there's a big amount of intricacy chooses establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is big however I believe the truthful answer is modification um individuals haven't had the ability to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to change but we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what might almost be identified to be the next Century approximately there is a lot to keep track of and this method does posture several challenges um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you deserve a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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