Find out more about Papaya Global Delete Old Payrolls ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and trustworthy technique of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and specialists
The Employee Portal supplies staff members with the capability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to international employees no matter the number of workers in the company. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local benefits providers in every nation, create local accounts and have a minimum number of staff members.
The HR abilities supplied by Global HR encompass various functions such as monitoring trip time, guaranteeing compliance, facilitating the procedure of inviting new staff members and bidding goodbye to leaving ones, using a safe and secure online platform for storing employees' documents, and providing support for work permit procedures in case your workers need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work expenses dispersed per place, total employment costs per cycle and far more.
environments around the world I provided leadership 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 across the business handling and structure external relationships supporting Business customers and options along with functioning as a consultant for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for many prominent companies worldwide we provide payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon great night depending upon where you remain in the world it's charming to fulfill 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 10 years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've sort of had a variety of various functions on the provider side and also on the supplier side from a payroll point of view so actually anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting 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 everyone comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really really gloomy and I want I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies keep separate
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate savings account for payroll in different countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most notably regulations compliance information security and banking guidelines then there are the sheer numbers they add additional intricacy the global Workforce is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll design there's frequently an overwhelming number of various systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or very very basic there's no genuine consistency framework we're living in an age 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 frequently with pen and paper and that just blows my mind whenever 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 information in real time that's another number that gives me sleepless nights and rather honestly the more a service spends on global payroll the less of a picture they see an absence of visibility likewise extends to payroll payments and inability to properly track these payments can cause compliance mishaps 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 need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes improperly communicated hires and terminations in addition to absence management and system setups and after that when you round everything off and the data is delivered to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they rely on the essential numerous processes 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 difficulties company face when they're making payments to workers or otherwise that's a great question I always throw this back and say what is it what doesn't need to be included best and what does
it require to be thought about there's differing 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 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 any place you look best ultimately constructing a knowledge base is definitely critical however everywhere you look with payroll payment they are like incredibly payments no if but some children 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 believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to type of move on with that it likewise also to add to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely vital that payroll and finance teams work closer together than ever um I'm always amazed when individuals state I've 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 split the payroll payment from calculation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more important to add to sort of the level of complexity there's a growing number of benefits being organ or being used by businesses across the world so again you're simply looking to include increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real challenges or real tough kind of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would definitely say that the bigger 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 groups feeding info into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we run in they simply make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and an era that you understand that we are working in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any organization has from an expense viewpoint from an effect point of view on staff members it is absolutely important that it's done correctly 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 greatest harmful result on people's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been impressed entering into this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this things is done correctly so leveraging the first International Payments first payroll payment service is a terrific primary step um supplying an end-to-end payroll option for your workers worldwide again I think is another huge um procedure again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of organizations and lowering the number of tools platforms and checking account they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I don't think any of us are really doing that for for the thanks
anyway we understand how how essential a function it is which'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 associated with those procedures and also so think of sorry I'm simply I was just gon na say imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task attempting 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 need days of the week to attempt to look through them and really see what was going on and sort of shot to get back to everybody so moving on appearance why do business pick to main separate bank accounts there are businesses out there doing precisely this for specific countries and I've worked in a service or many services doing exactly that I can say it does not always feel efficient and it does create more work I know we're not deliberately doing that we're not creating additional work for anybody where we do not have to and anybody that's managing that procedure 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 requirement I think people have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement 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 many other ways um to to sort of do it so I believe there's a variety I think this is a process that needs looking at it requires altering but eventually people are really stuck to what they recognize
with best um modification is a tough thing all of us do not like modification um so I think it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having keeping numerous checking account however there's a big quantity of intricacy chooses establishing a savings account keeping it ensuring it can send International transfers ensuring it's set up with the right user accesses for individual individuals so the intricacy is huge however I think the truthful response is change um people haven't been able to change or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I think it is knowledge you understand and there is an element 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 moving on and moving into you understand what could nearly be identified to be the next Century or two there is a lot to monitor and this approach does pose a number of obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a modification to our Business 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 gotten another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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