Find out more about Papaya Global Payroll Accountant ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and reputable method of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app enhances my payroll procedure, conserving me a considerable quantity of time each month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Employee Website
Employees have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to international staff members no matter the variety of workers in the business. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional advantages service providers in every country, produce regional accounts and have a minimum number of staff members.
The HR capabilities supplied by International HR incorporate numerous functions such as keeping track of vacation time, guaranteeing compliance, assisting in the procedure of welcoming new staff members and bidding farewell to leaving ones, providing a safe online platform for saving workers' documents, and supplying assistance for work permit procedures in case your staff members require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, overall work expenses distributed per location, overall employment costs per cycle and much more.
environments around the world I provided management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work across business managing and building external relationships supporting Business clients and options as well as serving as a consultant for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many prominent companies in the world we supply payroll payments and labor force management to all worker enters over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent night depending on where you remain in the world it's lovely to satisfy 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 particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I've kind of had a variety of various roles on the service provider side and also on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type 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 type of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely gloomy and I wish I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business keep different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially beneficial for global companies with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also offer a wrap-up 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 walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in sufficient in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most significantly policies compliance data security and banking guidelines then there are the large numbers they include further complexity the global 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 individuals that number is presently 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 traditional payroll design there's frequently an overwhelming variety of various systems causing lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or extremely very fundamental there's no genuine consistency structure we're living in an era 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 typically with pen and paper and that simply blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more an organization invests in international payroll the less of a picture they see a lack of presence likewise reaches payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal nearly half of global businesses have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors inadequately communicated hires and terminations along with absence management and system configurations and then when you round it all off and the information is delivered to the incorrect place the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they rely on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to employees or otherwise that's a great question I always throw this back and say what is it what doesn't require to be consisted of ideal 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 nation there's payment time frames there's payment abilities 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 intricacy anywhere you look right ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is permitting us to sort of move forward with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely imperative that payroll and finance groups work closer together than ever um I'm always surprised when people say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to add to kind of the level of intricacy there's more and more advantages being organ or being provided by businesses across the world so again you're simply looking to include a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine difficulties or genuine tough kind of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's in fact managing the payment side of things but you understand 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 need to produce extra handoffs while doing sos that we run in they simply make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and a period that you know that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any company has from a cost point of view from an effect viewpoint on employees it is absolutely crucial 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 have to be done right it has the most significant detrimental effect on individuals's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been astonished entering this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just discover when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally too. Therefore, it is vital to guarantee that jobs like Wi-Fi International and other crucial matters are done properly. Using the very first Worldwide Payments first payroll payment solution is a fantastic preliminary step towards supplying a thorough payroll solution for employees worldwide. Standardization, global processes, and lowering the number of tools, platforms, and bank accounts required for worldwide payroll are crucial factors in accomplishing organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things do not go as planned. Eventually, we don't do it for the gratitude.
anyhow we understand how how crucial 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 everyone that's involved in those procedures and likewise so picture sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions envision getting that many thank you notes um I suggest 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 check out them and actually see what was going on and type of shot to get back to everybody so moving on look why do business select to main separate savings account there are companies out there doing exactly this for particular nations and I've operated in a company or many organizations doing exactly that I can say it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing additional work for anyone where we don't have to and anyone that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think numerous reasons one is it's the standard I believe people have actually got so used to we need a brand-new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I believe this is a process that needs taking a look at it requires changing but ultimately individuals are really stuck with what they recognize
with best um modification is a difficult thing we all don't like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having preserving multiple savings account but there's a huge quantity of complexity chooses establishing a savings account maintaining it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private individuals so the complexity is big but I believe the honest response is change um individuals haven't been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think it is understanding you understand and there is a component 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 advantages and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century or so there is a lot to keep an eye on and this method does posture numerous difficulties um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I simply did you switched our Enterprise 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 staff members you are worthy of a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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