Find out more about Papaya Global Company Taxes Payroll ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to handling payments. This offers us with a protected and trusted method of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Staff member Portal offers employees with the ability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to worldwide staff members regardless of the variety of workers in the business. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional benefits providers in every country, create local accounts and have a minimum number of workers.
The HR abilities provided by International HR include various functions such as keeping track of holiday time, making sure compliance, assisting in the process of inviting brand-new workers and bidding goodbye to departing ones, providing a safe online platform for saving workers' documents, and supplying assistance for work permit treatments 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, total work expenses dispersed per place, total employment expenses per cycle and far more.
environments around the world I offered management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business handling and structure external relationships supporting Business customers and options as well as functioning as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and chose to sort 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 provider side and likewise on the supplier side from a payroll point of view so actually anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating 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 everyone comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really dreary and I want I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business maintain separate
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is especially beneficial for international organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll checking account how companies properly forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in enough in one nation but when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of factors most notably regulations compliance information security and banking rules then there are the large numbers they include additional intricacy the global Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll design there's frequently an overwhelming variety of different systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely very standard there's no genuine consistency framework we're living in an era 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 frequently with pen and paper and that just blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in global payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of global businesses have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is shipped to the wrong location the typical expense of a global information 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 depend on the essential 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 paying to employees or otherwise that's an excellent concern I always toss this back and state what is it what doesn't require to be consisted of best and what does
it need 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 timespan 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 client's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 fundamental and innovation is permitting us to kind of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm constantly amazed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to add to type of the level of intricacy there's a growing number of benefits being organ or being used by companies throughout the world so once again you're just wanting to include more and more payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine challenges or real tough type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of years I would certainly state that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding info into the next function as it were that's really managing the payment side of things however you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we run in they simply make them more timely they make them less effective 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 that we are still making this as tough as it needs to be concurred and rightly as you stated payroll is the single most significant liability that any service has from a cost point of view from an impact point of view on employees it is definitely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest detrimental impact on people's wellness and lots of other elements if people aren't paid uh I've constantly been astonished entering into this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this sort of webinar has actually been informed 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 workers or not um but ultimately payroll is such an essential cycle all of us 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 think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment option is a fantastic initial step um supplying an end-to-end payroll service for your employees internationally again I believe is another big um process again aligning and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of organizations and decreasing the number of tools platforms and bank accounts they require for their Global payroll too couldn't 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 anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're meant to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how essential 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 procedures and also so envision sorry I'm simply I was just gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions think of getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and really see what was going on and type of shot to get back to everybody so proceeding appearance why do companies choose to main different bank accounts there are services out there doing precisely this for specific countries and I've worked in a business or numerous companies doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for anybody where we don't need to and anyone that's handling that procedure 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 many reasons one is it's the requirement I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I believe this is a process that needs looking at it requires changing however eventually individuals are really stuck with what they recognize
with right um modification is a tough thing all of us do not like change um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having keeping numerous savings account however there's a huge quantity of complexity goes with establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is big however I believe the honest response is modification um individuals have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could practically be identified to be the next Century or so there is a lot to monitor and this method does position a number of difficulties um so Johnny might you inform us about those challenges yeah of course so there's a variety right there is so
I just did you changed our Business 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 are worthy of a corner workplace with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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