Find out more about Papaya Global Household Employee Payroll ... We now have the capability to handle both our payroll and payments processes 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 reputable approach of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Staff member Portal supplies staff members with the capability to access and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps companies offer competitive advantages plans to international staff members regardless of the variety of employees in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source local benefits service providers in every country, produce local accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total work costs distributed per area, overall employment expenses per cycle and far more.
Worldwide, I have actually shown management and tactical know-how in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My function involves handling and developing external partnerships, supporting Enterprise clients, and offering advisory services. Furthermore, 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 a lot of influential business worldwide we supply payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon good night depending on where you are in the world it's beautiful to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've sort of had a variety of different roles on the provider 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 all right thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone 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 really uninspiring and I wish I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate savings account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. 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 also supply a recap 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 stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one country but when you're doing it internationally it's next level and Beyond it becomes complex for a range of reasons most importantly guidelines compliance data security and banking rules then there are the sheer numbers they add further complexity the global Labor force is currently 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 services and growing all doing their own thing all over the world in the conventional payroll design there's frequently an overwhelming variety of different systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in big amounts and or really very basic there's no genuine consistency structure we're residing in an age 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 often with pen and paper which just blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company spends on global payroll the less of an image they see a lack of visibility likewise encompasses payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction nearly half of international companies have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes improperly interacted hires and terminations along with absence management and system setups and then when you round everything off and the information is shipped to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they depend on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're making payments to workers or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought about 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 capabilities 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 consumer's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is absolutely 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 between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and innovation is enabling us to sort of move forward with that it also also to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely essential that payroll and financing teams work better together than ever um I'm always amazed when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on well-being and the settlement landscape is ending up being progressively intricate. Companies are continually presenting new benefits and payment choices, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this does not have to be the case. In today's technologically sophisticated age, there's no validation for maintaining cumbersome treatments. Payroll, the company's most significant expense, should be processed correctly and on time. Even small hold-ups can negatively affect workers' wellness and have far-reaching effects. Therefore, it's crucial to prioritize precise and prompt payments.
The payroll group may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only notice when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally too. Therefore, it is essential to guarantee that tasks like Wi-Fi Global and other important matters are done correctly. Using the very first Global Payments very first payroll payment solution is a fantastic preliminary action towards providing an extensive payroll option for workers worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and savings account necessary for global payroll are crucial factors in accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyhow we understand how how crucial a role 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 easy as possible for everybody that's involved in those processes and likewise so think of sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and actually see what was going on and type of shot to return to everybody so carrying on look why do companies pick to main different savings account there are organizations out there doing exactly this for specific nations and I have actually worked in a company or numerous services doing precisely that I can say it doesn't constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not producing 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 thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe many factors one is it's the standard I believe individuals have actually got so used to we need a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have adopted 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 ways um to to sort of do it so I believe there's a range I think this is a procedure that needs looking at it needs altering but eventually people are extremely stuck to what they recognize
with ideal um change is a hard thing all of us don't like modification um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having keeping multiple bank accounts but there's a big quantity of intricacy goes with setting up a checking account keeping it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is substantial however I think the truthful answer is modification um individuals have not had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to change however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century or so there is a lot to keep track of and this approach does posture a number of challenges um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I just recently made a change 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 gained another CFO, and with this improved ability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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