Find out more about Papaya Global Or Square 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 different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and secure and trusted approach of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app improves my payroll procedure, conserving me a substantial amount of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Employee Website supplies staff members with the ability to access and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global helps business offer competitive advantages plans to worldwide employees regardless of the number of employees in the company. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source local advantages service providers in every nation, create regional accounts and have a minimum variety of staff members.
The HR capabilities supplied by Worldwide HR encompass different functions such as keeping track of trip time, making sure compliance, assisting in the procedure of inviting brand-new workers and bidding goodbye to leaving ones, offering a safe online platform for saving employees' files, and providing support for work permit treatments in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, total work expenses distributed per area, total employment costs per cycle and far more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business managing and building external relationships supporting Enterprise customers and services along with acting as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We focus on offering payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a pleasure to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and obstacles of this field have constantly captivated 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 sort of had a range of different roles on the service provider side and likewise on the supplier side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I actually 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 drizzling here it's very extremely bleak and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle 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 beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how companies properly forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a variety of reasons most importantly guidelines compliance data security and banking rules then there are the sheer numbers they include additional complexity the global Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll design there's frequently an overwhelming variety of various systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in large amounts and or really really fundamental there's no genuine consistency framework we're residing in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a service spends on international payroll the less of a photo they see a lack of presence likewise encompasses payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global businesses have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes inadequately communicated hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the data is shipped to the wrong location the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments don't run efficiently if they depend on the essential numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're making payments to employees or otherwise that's an excellent concern I constantly throw this back and state what is it what does not require to be included right 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 country there's payment amount of time 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 intricacy anywhere you look best eventually building a knowledge base is definitely vital but 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 kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to type of progress with that it also also to add to that payroll and financing need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work more detailed together than ever um I'm always astonished 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 operate 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 procedure it's the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more essential to add to sort of the level of complexity there's a growing number of advantages being organ or being used by services throughout the world so again you're simply looking to include more and more payments to this currently complicated landscape so if you sort 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 real difficult kind of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams 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 doesn't necessarily require to be the case you understand long gone are the times where we require to produce additional 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 age of tech and an age that you know that we are operating in today there is no reason we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any service has from an expense viewpoint from an effect viewpoint on employees it is absolutely important that it's done properly and on time so what we indicate 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 harmful result on individuals's well-being and many other elements if people aren't paid uh I have actually always been amazed entering into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I think 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 important that all of this stuff is done correctly so leveraging the very first International Payments very first payroll payment solution is a terrific first step um offering an end-to-end payroll service for your workers worldwide once again I think is another substantial um procedure again lining up and ensuring you have standardization International processes all of those things are absolutely crucial to success success of services and decreasing the variety of tools platforms and checking account they require 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 do not expect 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 indicated to be um I do not believe any of us are really doing that for for the thanks
anyway 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 simple as possible for everyone that's associated with those procedures and likewise so envision sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture 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 but it would absolutely be an interesting job attempting to clean all those up for sure oh absolutely I can't picture 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 really see what was going on and kind of try to get back to everyone so moving on appearance why do business select to primary different savings account there are businesses out there doing precisely this for specific countries and I have actually operated in a company or lots of companies doing exactly that I can state it doesn't always feel effective and it does develop more work I understand we're not purposely doing that we're not developing extra work for anyone where we do not have to and anyone that's handling 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 quantity that we are I believe numerous reasons one is it's the standard I believe people have actually got so used to we require a brand-new savings account we open an entity and appropriately so you require 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 actually adopted 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 lots of other ways um to to type of do it so I believe there's a range I believe this is a process that requires taking a look at it needs changing however ultimately people are very stuck to what they're familiar
with right um modification is a hard thing we all do not like modification um so I believe it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having maintaining several bank accounts but there's a big quantity of intricacy goes with establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is big however I think the truthful response is modification um people have not been able to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to change however we've 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 might almost be identified to be the next Century approximately there is a lot to keep an eye on and this technique does pose a number of difficulties um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I simply did you switched 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 office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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