Find out more about Square Payroll Vs Papaya Global ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This provides us with a safe and trusted approach of making payments 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 professionals
The Worker Website provides employees with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages plans to worldwide staff members regardless of the variety of employees in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the need to source regional benefits providers in every country, develop local accounts and have a minimum variety of workers.
The HR abilities offered by International HR incorporate different functions such as keeping track of getaway time, guaranteeing compliance, helping with the process of inviting new staff members and bidding farewell to leaving ones, providing a secure online platform for keeping employees' documents, and providing assistance for work allow procedures in case your staff members need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, overall work expenses distributed per area, total work expenses per cycle and far more.
Globally, I have shown leadership and tactical expertise in assisting massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My function includes handling and developing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually type of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently 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 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 extremely extremely bleak and I want I was somewhere else 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 Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in different countries, virtual accounts and digital wallets use 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 likewise offer a recap 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 throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business properly anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one country however when you're doing it globally it's next level and Beyond it ends up being intricate for a range of factors most notably guidelines compliance information security and banking guidelines then there are the sheer numbers they include more complexity the worldwide Labor force is currently three 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 currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing all over the world in the traditional payroll model there's often an overwhelming variety of different systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely really standard there's no genuine consistency structure we're residing 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 whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more a service invests in global payroll the less of a photo they see a lack of visibility also reaches payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of global organizations have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes inadequately communicated hires and terminations in addition to absence management and system setups and after that when you round it all off and the information is delivered to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they rely on the necessary multiple 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 service face when they're paying to employees or otherwise that's a great concern I always toss this back and say what is it what does not require to be consisted of right and what does
it require to be considered there's varying Bank information 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 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 consumer's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is absolutely important however all over you look with payroll payment they resemble incredibly payments no if however some babies 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 acknowledgment that payroll payments are definitely basic and technology is enabling us to sort of progress with that it likewise as well to add to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely crucial that payroll and financing groups work better together than ever um I'm constantly amazed when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation 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 people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more important to add to kind of the level of intricacy there's more and more advantages being organ or being offered by organizations throughout the world so once again you're just aiming to add a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real difficulties or real tough kind of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would absolutely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding details into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we need to develop extra handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason we are still making this as challenging as it needs to be concurred and rightly as you said payroll is the single most significant liability that any service has from a cost point of view from an impact perspective on staff members it is absolutely crucial 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 need to be done right it has the most significant detrimental result on individuals's wellness and lots of other factors if people aren't paid uh I have actually constantly been astonished entering into this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just see when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally as well. For that reason, it is necessary to make sure that jobs like Wi-Fi Global and other essential matters are done properly. Using the first International Payments very first payroll payment option is a great preliminary action towards providing a thorough payroll service for workers worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and checking account needed for global payroll are key factors in achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things don't go as planned. Eventually, we don't do it for the appreciation.
anyway we understand how how crucial 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 processes and likewise so imagine sorry I'm simply I was just gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions picture getting that numerous thank you notes um I imply 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 up all those up for sure oh absolutely 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 look through them and in fact see what was going on and type of shot to get back to everybody so moving on appearance why do business choose to main different checking account there are services out there doing precisely this for specific countries and I have actually worked in a service or lots of organizations doing precisely that I can state it doesn't always feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for any person where we don't need to and anybody that's managing 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 lots of reasons one is it's the standard I believe people have got so used to we require a new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a range I believe this is a process that needs taking a look at it needs altering however ultimately individuals are extremely stuck with what they recognize
with ideal um change is a hard thing we all do not like modification um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having preserving multiple bank accounts but there's a substantial amount of complexity chooses setting up a bank account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is big however I think the sincere response is modification um individuals have not had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might practically be figured out to be the next Century or so there is a lot to keep track of and this method does pose numerous difficulties um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Business 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 gotten another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your achievements.
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