Find out more about Papaya Global Contractor Payroll ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a secure and dependable approach of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Worker Website supplies employees with the ability to gain access to and view crucial files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits bundles to global employees regardless of the number of workers in the business. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional advantages companies in every nation, develop regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall employment expenses distributed per place, total employment costs per cycle and a lot more.
Worldwide, I have shown management and strategic knowledge in directing large-scale populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role includes managing and developing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for many influential companies worldwide we provide payroll payments and labor force management to all staff member enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent evening 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've been in the payments market for over ten years and specifically dealing with 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 chose to sort of make a genuine go at that over the last 5 or six years where I have actually kind of had a range of various roles on the supplier side and also 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 everyone alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very very bleak and I want I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies keep separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate savings account for payroll in different countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic possession for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how business properly anticipate their payroll expenses 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 country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of factors most significantly policies compliance information security and banking rules then there are the large numbers they include further complexity the worldwide Workforce is currently 3 and a half billion individuals by 2030 it's approximated 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 consider that there are some 230 million services and growing all doing their own thing around the globe in the conventional payroll model there's often 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 very extremely fundamental there's no genuine consistency framework we're residing in an age of tech however payroll has 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 just blows my mind every 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 companies say they have Labor force data in real time that's another number that provides me sleepless nights and rather honestly the more a business spends on global payroll the less of a picture they see an absence of visibility also encompasses payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide organizations have expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors inadequately communicated hires and terminations along with lack management and system configurations and then when you round all of it off and the data is shipped to the wrong location the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they count on the needed several 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 difficulties business face when they're paying to employees or otherwise that's a great question I constantly toss this back and state what is it what doesn't need to be consisted of best and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 client's own in-country account so there's complexity wherever you look right eventually developing a knowledge base is absolutely important but all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type 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 essential and innovation is enabling us to kind of move forward with that it also also 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 necessary that payroll and finance teams work better together than ever um I'm always astonished when individuals 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 divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on well-being and the payment landscape is becoming increasingly detailed. Services are continuously introducing new benefits and payment alternatives, which adds to the general complexity. Big corporations often divide their payroll and payment processing into separate teams, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's technologically advanced period, there's no justification for preserving troublesome treatments. Payroll, the business's most significant expense, must be processed correctly and on time. Even minor delays can negatively affect employees' well-being and have far-reaching effects. For that reason, it's important to focus on accurate and timely payments.
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just notice when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally too. Therefore, it is important to make sure that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first International Payments very first payroll payment solution is an excellent initial action towards providing an extensive payroll service for employees worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and savings account essential for global payroll are crucial factors in achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyhow we know 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 simple as possible for everybody that's involved in those processes and likewise 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 quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions imagine getting that numerous 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 an intriguing job trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and sort of try to return to everyone so proceeding look why do business select to primary different savings account there are organizations out there doing exactly this for particular nations and I have actually operated in a service or many 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 extra work for any person where we do not need to and anyone that's dealing with 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 lots of factors one is it's the standard I believe people have got so used to we require a brand-new checking account we open an entity and rightly 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 simply been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to sort 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 people are extremely stuck to what they're familiar
with right um change is a tough thing all of us do not like change um so I believe it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having maintaining numerous savings account but there's a huge amount of intricacy chooses setting up a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the complexity is huge however I think the sincere response is modification um individuals have not been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century approximately there is a lot to keep track of and this method does pose a number of challenges um so Johnny could you inform us about those difficulties yeah of course so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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