Find out more about Cost Of Papaya Global Payroll Software ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and trustworthy method of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Workers have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment files. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive advantages plans to global employees despite the variety of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source regional advantages suppliers in every country, develop local accounts and have a minimum number of workers.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall work expenses distributed per location, overall employment costs per cycle and a lot more.
Internationally, I have actually shown leadership and tactical knowledge in guiding massive populations of over 100,000 staff members throughout 170 nations. Currently, I are accountable for supervising payroll methods, as mentioned by Mark. My role includes handling and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for most prominent companies in the world we provide payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon good night depending on where you are in the world it's beautiful to meet you and thank you very much 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 ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually sort of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely really uninspiring and I want I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies preserve different
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, 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 becoming a tactical possession for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how business properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one country however when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of reasons most notably regulations compliance data security and banking guidelines then there are the large numbers they add more intricacy the global Labor force is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the conventional payroll design there's typically an overwhelming number of different systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or extremely very standard there's no real consistency structure we're residing in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information in real time that's another number that offers me sleepless nights and rather honestly the more a business spends on international payroll the less of a photo they see a lack of visibility likewise extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide businesses have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors poorly communicated hires and terminations along with lack management and system setups and then when you round it all off and the data is shipped to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they depend on the essential several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties business face when they're paying to staff members or otherwise that's an excellent question I always throw this back and say what is it what does not need to be consisted of right and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan 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 anywhere you look right ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to sort of progress with that it likewise too to add to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is definitely imperative that payroll and financing teams work closer together than ever um I'm constantly surprised when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically 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 anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more crucial to contribute to kind of the level of intricacy there's increasingly more benefits being organ or being provided by services across the world so again you're simply wanting to add increasingly more payments to this already complex landscape so if you type 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 real challenges or genuine difficult type of pay uses to play to pay people I believe yeah I imply over the last well yeah a couple of years I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding information into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce additional handoffs in the processes that we run in they just make them more prompt they make them less effective and they do not make them what they need to be in in a period of tech and a period that you understand that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single greatest liability that any company has from a cost point of view from an effect viewpoint on staff members it is definitely important 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 have to be done right it has the biggest harmful result on individuals's wellness and many other elements if individuals aren't paid uh I have actually constantly been surprised entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only see when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's perceived externally too. Therefore, it is necessary to ensure that jobs like Wi-Fi Global and other crucial matters are done correctly. Using the very first Global Payments first payroll payment service is a terrific initial step towards providing a detailed payroll solution for workers worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and checking account necessary for international payroll are crucial factors in accomplishing organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyway we understand how how crucial a function it is and that'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 everybody that's involved in those processes and likewise so think of sorry I'm just I was simply gon na state think of the quantity of thanks you got if you could 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 lots of 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 an intriguing 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 held true um you 'd require days of the week to try to look through them and really see what was going on and kind of shot to return to everybody so carrying on appearance why do companies choose to primary separate checking account there are services out there doing precisely this for specific countries and I've worked in a service or lots of businesses doing precisely that I can say it does not constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not creating additional work for any person where we don't have to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous factors one is it's the standard I think people have got so utilized to we need a new checking 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 think it's just been the standard and the standard the people have embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I think this is a procedure that requires looking at it requires altering but eventually individuals are extremely stuck to what they're familiar
with ideal um change is a tough thing we all don't like change um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having maintaining several checking account but there's a big quantity of intricacy opts for setting up a checking account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual people so the intricacy is substantial however I think the sincere response is modification um people haven't had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to track and this approach does pose a number of challenges um so Johnny might you tell us about those difficulties yeah naturally so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements.
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