Find out more about Papaya Global Payroll Aca ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly devoted to handling payments. This provides us with a secure and trusted approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax statements and employment documents. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to international staff members regardless of the variety of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source regional advantages companies in every nation, create regional accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR incorporate various functions such as keeping track of vacation time, guaranteeing compliance, helping with the process of inviting new workers and bidding farewell to leaving ones, using a protected online platform for storing workers' documents, and providing support for work allow treatments in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total employment expenses dispersed per location, overall work expenses per cycle and far more.
Worldwide, I have shown leadership and strategic know-how in guiding massive populations of over 100,000 workers across 170 countries. Presently, I are accountable for supervising payroll techniques, as pointed out by Mark. My function includes managing and developing external collaborations, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
company to make the time 100 list for most influential companies in the world we provide payroll payments and labor force management to all worker key ins over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great evening depending upon where you are in the world it's lovely 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 industry for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I've type of had a range of various functions on the provider side and also on the vendor side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating 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 everyone comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely uninspiring and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, 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 go over why they are becoming a tactical property for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a range of factors most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include additional intricacy the worldwide Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 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 worldwide in the traditional payroll design there's frequently an overwhelming number of various systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or really extremely basic there's no genuine consistency structure we're residing 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 often with pen and paper which simply blows my mind every time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization invests in global payroll the less of a picture they see a lack of exposure also encompasses payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of global services have revealed that they don't 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 poor HCM data information entry mistakes poorly interacted hires and terminations along with lack management and system configurations and then when you round everything off and the information is shipped to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they rely on the needed multiple 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 obstacles business face when they're making payments to employees or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be consisted of right and what does
it need to be thought about there's differing 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 customer's own in-country account so there's complexity any place you look ideal eventually developing a knowledge base is definitely crucial however all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to type of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely essential that payroll and finance teams work better together than ever um I'm always impressed when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation 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 process it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on wellness and the payment landscape is ending up being significantly detailed. Organizations are continually introducing brand-new advantages and payment options, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can result in inadequacies and traffic jams. In my opinion, this doesn't have to hold true. In today's highly innovative age, there's no reason for keeping troublesome treatments. Payroll, the company's most significant cost, need to be processed properly and on time. Even small hold-ups can adversely affect employees' well-being and have far-reaching repercussions. For that reason, it's vital to prioritize accurate and prompt payments.
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just discover when things go wrong. However, when things go right, it's seen as just a routine task. This is how it's viewed externally also. Therefore, it is essential to guarantee that tasks like Wi-Fi Global and other vital matters are done correctly. Using the first Global Payments very first payroll payment service is a terrific initial action towards providing a comprehensive payroll service for staff members worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and bank accounts needed for international payroll are key consider accomplishing organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as planned. Eventually, we don't do it for the gratitude.
anyway we understand how how essential a role 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 also so envision sorry I'm simply I was just gon na state picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating job attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and in fact see what was going on and type of shot to get back to everyone so proceeding look why do companies pick to primary separate bank accounts there are companies out there doing exactly this for particular countries and I've operated in a service or many businesses doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not deliberately doing that we're not developing extra work for any person where we do not need to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons 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 rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I believe this is a process that requires taking a look at it needs changing but eventually individuals are very stuck to what they recognize
with right um modification is a challenging thing we all don't like modification um so I think it's just type 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 certainly the benefits of having keeping several checking account however there's a substantial quantity of complexity opts for setting up a checking account preserving it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for private people so the intricacy is substantial but I think the honest response is change um people haven't had the ability to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to keep an eye on and this approach does present numerous difficulties um so Johnny might you tell us about those difficulties yeah obviously so there's a variety right there is so
I just did you changed 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 International workers you should have a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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