Find out more about Papaya Global Peru ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a protected and reliable method of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Worker Website provides workers with the capability to access and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists business offer competitive advantages plans to international workers despite the variety of workers in the company. The company can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local advantages providers in every country, create regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, overall employment expenses dispersed per area, total work costs per cycle and a lot more.
environments around the world I supplied management and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work across business handling and building external relationships supporting Enterprise customers and services as well as serving as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually kind of had a variety of various roles on the supplier side and also on the vendor side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really very uninspiring and I want 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 International 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 simplifying papaya Worldwide payroll payments as a tactical asset uh we'll likewise review a recap which needs to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and managing them ends up being a growing number of intricate International organizations are looking to find Solutions and new methods to enhance procedures particularly from a payroll and cross-border payment standpoint many companies maintain separate checking account just for payroll while some have numerous accounts in different nations does it make good sense for companies to maintain separate bank accounts often in different countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies enhance the episode complex processes of
making payroll payments properly effectively securely 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 companies properly anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the sheer numbers they add additional intricacy the worldwide Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 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 worldwide in the standard payroll design there's typically an overwhelming number of various systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in large quantities and or extremely extremely standard there's no genuine consistency structure we're living in an era of tech but payroll has 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 just blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization spends on global payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide organizations have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the data is shipped to the wrong location the typical expense of an international 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 don't run efficiently if they count on the essential several 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 organization face when they're making payments to staff members or otherwise that's a great question I always throw this back and state what is it what does not need to be included right and what does
it require to be considered there's varying 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 client's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the type of link in 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 likewise too to contribute to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely imperative that payroll and finance groups work closer together than ever um I'm constantly surprised when people state I have actually split 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 computation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to contribute to sort of the level of complexity there's increasingly more advantages being organ or being provided by companies throughout the world so once again you're simply wanting to include more and more payments to this currently complex landscape so if you type 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 real challenges or real tough kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would certainly say 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 information into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we need to develop additional 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 need to be in in a period of tech and an era that you understand that we are operating in today there is no reason that we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single biggest liability that any organization has from an expense point of view from an effect point of view on workers it is absolutely vital that it's done correctly and on time so what we mean 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 damaging impact on individuals's well-being and lots of other factors if individuals aren't paid uh I've constantly been amazed entering into this Market sort of the last five to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. Therefore, it is essential to make sure that tasks like Wi-Fi International and other important matters are done properly. Using the very first Global Payments first payroll payment service is a fantastic initial action towards offering an extensive payroll solution for staff members worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and checking account needed for global payroll are crucial consider attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things do not go as prepared. Eventually, we do not do it for the gratitude.
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 easy as possible for everyone that's involved in those procedures and also so think of sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions think of getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task attempting to clean up all those up for sure oh definitely I can't picture 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 kind of shot to return to everyone so moving on appearance why do companies choose to main separate checking account there are companies out there doing precisely this for particular countries and I have actually operated in a business or numerous services doing exactly that I can say it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not producing extra work for anyone where we don't have to and any person that's managing that procedure 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 lots of reasons one is it's the requirement I believe people have actually got so utilized to we require a brand-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 just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I think this is a process 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 difficult thing all of us don't like modification um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having preserving several bank accounts but there's a substantial quantity of complexity opts for establishing a savings account preserving it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private people so the complexity is substantial but I believe the honest answer is change um individuals have not been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could practically be identified to be the next Century or two there is a lot to monitor and this technique does pose a number of obstacles um so Johnny could you inform us about those challenges yeah of course so there's a range 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 seems like our CFO has gained another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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