Find out more about Employee Payroll Calendars Papaya Global ... We now have the ability to handle 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 specifically committed to handling payments. This supplies us with a protected and dependable technique of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app enhances my payroll procedure, conserving me a significant amount of time every month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
Worker Website
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax statements and work files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business provide competitive benefits packages to global employees no matter the number of staff members in the business. The company can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source regional advantages companies in every country, develop regional accounts and have a minimum variety of staff members.
The HR abilities supplied by Global HR encompass various functions such as monitoring trip time, making sure compliance, assisting in the process of inviting brand-new workers and bidding goodbye to leaving ones, using a safe and secure online platform for keeping workers' files, and providing assistance for work permit procedures in case your employees need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall employment expenses distributed per location, overall employment costs per cycle and much more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business managing and structure external relationships supporting Enterprise customers and services in addition to serving as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to satisfy 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 decade of experience in the payments industry, I have actually focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of different functions on the supplier side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really 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 raining here it's extremely very uninspiring and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why business preserve different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively securely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in adequate in one country however when you're doing it globally it's next level and Beyond it becomes complex for a variety of reasons most importantly policies compliance information security and banking rules then there are the large numbers they include more complexity the international 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 individuals that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the standard payroll model there's typically a frustrating variety of different systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big quantities and or extremely extremely standard there's no genuine consistency framework we're residing in a period of tech but 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 every 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 organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more a business spends on international payroll the less of a photo they see an absence of exposure also reaches payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of global services have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes improperly interacted hires and terminations in addition to absence management and system setups and after that when you round all of it 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 need to move the money around the globe payroll and payments don't run smoothly if they rely on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles organization face when they're paying to employees or otherwise that's a good question I always throw this back and say what is it what does not require to be consisted of ideal and what does
it need to be thought about 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 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 ultimately building a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble very payments no if but some infants 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 believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to kind of progress with that it also too to add to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and finance teams work closer together than ever um I'm constantly surprised when individuals 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 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 process it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on wellness and the settlement landscape is becoming significantly elaborate. Organizations are continuously presenting new benefits and payment options, which contributes to the total complexity. Big corporations typically divide their payroll and payment processing into different teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this does not need to hold true. In today's highly innovative era, there's no justification for maintaining cumbersome treatments. Payroll, the company's most significant expenditure, must be processed properly and on time. Even minor delays can adversely affect workers' well-being and have far-reaching consequences. For that reason, it's important to prioritize accurate and timely payments.
payroll group get um so I'm unsure anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle we all hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial 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 offering an end-to-end payroll service for your employees worldwide again I think is another big um procedure again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely essential to success success of services and reducing the number 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 had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I don't think any of us are in fact doing that for for the thanks
anyhow we understand how how essential a role 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 associated with those procedures and likewise so envision sorry I'm just I was simply gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task trying to clean up all those up for sure oh absolutely I can't envision 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 actually see what was going on and sort of try to return to everyone so moving on appearance why do business pick to main different savings account there are organizations out there doing precisely this for particular countries and I've operated in a service or many services doing exactly that I can state it does not always feel effective and it does create 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 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 think lots of factors one is it's the standard I believe individuals have got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a procedure that requires looking at it needs changing but ultimately people are very stuck with what they're familiar
with best um change is a tough thing we all do not like modification um so I think it's just sort of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having maintaining multiple checking account however there's a substantial quantity of complexity goes with establishing a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the right user accesses for individual individuals so the intricacy is huge but I think the honest response is change um individuals haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century or so there is a lot to monitor and this technique does position several difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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