Find out more about Biweekly Payroll Papaya Global ... 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 gotten a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a protected and dependable approach of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app enhances my payroll process, saving me a considerable quantity of time each month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Employee Website
Employees have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The website is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business offer competitive benefits plans to international workers despite the number of workers in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits service providers in every country, produce local accounts and have a minimum number of workers.
The HR abilities offered by International HR incorporate numerous functions such as keeping track of vacation time, making sure compliance, assisting in the process of welcoming new staff members and bidding goodbye to leaving ones, using a safe and secure online platform for saving workers' documents, and providing assistance for work allow treatments in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall work expenses distributed per place, overall employment costs per cycle and a lot more.
environments around the world I offered leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business managing and building external relationships supporting Business clients and solutions as well as functioning as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for a lot of influential companies worldwide we supply payroll payments and workforce management to all employee key ins over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon great night depending on where you remain in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of different functions on the company side and also on the supplier side from a payroll perspective so really anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to type 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 drizzling here it's very very uninspiring and I want I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business preserve different
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially helpful for worldwide organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly 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 precisely anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic 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 becomes complicated for a range of reasons most notably policies compliance information security and banking guidelines then there are the sheer numbers they add additional complexity the worldwide Workforce 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 consider that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll design there's often an overwhelming number of various systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or really really standard there's no real consistency structure we're living in an era of tech but 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 simply blows my mind every time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that gives me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of an image they see an absence of presence likewise encompasses payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal almost half of international businesses have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors poorly communicated hires and terminations along with absence management and system setups and then when you round all of it off and the data is delivered to the wrong place the average cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they depend on the required several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're making payments to employees or otherwise that's a great question I always toss this back and say what is it what does not require to be consisted of ideal and what does
it need to be thought of there's differing Bank information 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 need to pay from the consumer's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and innovation is permitting us to type of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work more detailed together than ever um I'm constantly surprised when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry 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 people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to add to type of the level of intricacy there's increasingly more advantages being organ or being provided by companies across the world so again you're just wanting to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or real tough kind of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of decades I would definitely say that the bigger a company 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 details into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to create additional handoffs at the same times that we operate in they simply 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 know that we are working in today there is no reason that we are still making this as difficult as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any company has from a cost viewpoint from an effect perspective on staff members it is absolutely important that it's done correctly 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 damaging effect on individuals's wellness and lots of other factors if individuals aren't paid uh I've constantly been surprised entering this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anybody on this sort of webinar has actually been told thank you for processing my payroll correctly 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 an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe 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 stuff is definitely vital that all of this stuff is done properly so leveraging the very first International Payments first payroll payment option is a terrific initial step um providing an end-to-end payroll solution for your staff members worldwide 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 crucial to success success of businesses and reducing the variety of tools platforms and bank accounts they require for their Global 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 thousand of 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 have not gone rather where they're meant to be um I do not think any of us are really doing that for for the thanks
anyhow 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 procedures and also so think of sorry I'm simply I was simply gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and really see what was going on and type of shot to get back to everyone so carrying on look why do business select to primary separate checking account there are organizations out there doing precisely this for specific countries and I have actually worked in a service or numerous businesses doing precisely that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not producing additional work for anyone 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 lots of factors one is it's the requirement I believe individuals have actually got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I think this is a procedure that requires taking a look at it needs changing however ultimately individuals are very stuck with what they're familiar
with best um change is a difficult thing all of us do not like modification um so I think it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having maintaining numerous bank accounts however there's a substantial amount of complexity opts for setting up a checking account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual people so the intricacy is substantial however I think the truthful response is modification um people haven't been able to change or haven't had always the understanding to actually make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I believe 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 looking at the the benefits and the possibilities of moving on and moving into you know what could practically be determined to be the next Century or two there is a lot to monitor and this method does present numerous challenges um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just did you changed 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 Global workers you should have a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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