Find out more about Papaya Global Correction Payroll ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a secure and trustworthy approach of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app streamlines my payroll process, conserving me a substantial quantity of time monthly. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Worker Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages plans to worldwide workers despite the variety of workers in the business. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the need to source local advantages service providers in every country, create local accounts and have a minimum variety of workers.
The HR abilities provided by Worldwide HR incorporate numerous functions such as monitoring getaway time, guaranteeing compliance, assisting in the procedure of welcoming brand-new employees and bidding farewell to departing ones, providing a protected online platform for keeping employees' files, and providing assistance for work permit procedures in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment costs dispersed per place, overall work costs per cycle and a lot more.
environments around the world I supplied leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and structure external relationships supporting Enterprise clients and services as well as serving as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've type of had a variety of various roles on the supplier side and also on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing 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 comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really very gloomy and I wish 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 looking at the difficulty years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly useful for global organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate savings account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic possession 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 precisely effectively safely and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in sufficient in one country but when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of reasons most significantly guidelines compliance data security and banking rules then there are the sheer numbers they add further complexity the worldwide Workforce is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll design there's frequently a frustrating number of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or really very fundamental there's no real consistency framework we're living in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often 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 companies say they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more a service spends on international payroll the less of a photo they see a lack of presence also reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of international organizations have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry mistakes improperly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect place the average expense 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 efficiently if they depend on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're making payments to employees or otherwise that's a great concern I constantly throw this back and say what is it what doesn't require to be consisted of ideal and what does
it require to be considered there's varying 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 capabilities 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 any place you look ideal ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a 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 fundamental and innovation is allowing us to sort of move forward with that it also as well to contribute to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely essential that payroll and financing groups work closer together than ever um I'm constantly astonished when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split 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 ultimately 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 also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more important to add to kind of the level of complexity there's more and more advantages being organ or being offered by companies throughout the world so again you're simply wanting to add more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real obstacles or genuine challenging sort of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of decades I would definitely state that the larger a business 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 teams feeding details into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we operate 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 an era 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 difficult as it needs to be agreed and rightly as you said payroll is the single greatest liability that any organization has from a cost perspective from an impact perspective on employees it is definitely crucial 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 have to be done right it has the most significant harmful impact on people's well-being and numerous other factors if individuals aren't paid uh I've constantly been surprised entering this Market type of the last five to ten years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only notice when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's perceived externally as well. For that reason, it is essential to make sure that tasks like Wi-Fi International and other important matters are done properly. Utilizing the very first International Payments first payroll payment option is an excellent preliminary step towards providing a thorough payroll service for employees worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and bank accounts necessary for worldwide payroll are essential consider attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things don't go as planned. Eventually, we don't do it for the thankfulness.
anyway we understand how how important 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 everyone that's involved in those processes and likewise so picture sorry I'm simply I was just gon na say 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 talking about numerous thousands possibly Millions imagine getting that many 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 certainly be an intriguing job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and in fact see what was going on and type of try to get back to everybody so proceeding look why do companies select to main separate bank accounts there are services out there doing exactly this for particular countries and I've worked in a company or many organizations doing exactly that I can state it does not always feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing additional work for anybody where we do not need to and any person that's dealing with 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 amount that we are I think lots of reasons one is it's the standard I believe people have actually got so used to we need a new checking account we open an entity and rightly so you need 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 requirement 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 many other ways um to to sort of do it so I think there's a range I think this is a process that needs taking a look at it needs changing but eventually people are really stuck to what they're familiar
with right um modification is a tough thing all of us do not like modification um so I believe it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having preserving numerous bank accounts however there's a substantial quantity of intricacy goes with establishing a savings account keeping it ensuring it can send International transfers ensuring it's established with the best user accesses for private individuals so the intricacy is substantial however I think the truthful answer is change um people have not been able to alter or haven't had always the knowledge to actually make that change into alternate Solutions other than 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 aspect of resistance to alter but we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could almost be determined to be the next Century approximately there is a lot to monitor and this approach does pose several obstacles um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I recently made a modification 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 gotten another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your achievements.
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