Find out more about Papaya Global Payroll Bitcoin ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and secure and reliable approach of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
Employee Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive advantages plans to international workers regardless of the number of workers in the company. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source regional advantages suppliers in every nation, create regional accounts and have a minimum number of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, overall employment expenses dispersed per place, total work costs per cycle and a lot more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business managing and building external relationships supporting Business customers and solutions along with serving as an advisor for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential companies worldwide we offer payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good evening depending upon where you remain in the world it's charming to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've kind of had a range of different roles on the company side and likewise on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays 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 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 raining here it's very very dreary 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 obstacle years of handling International payroll why companies keep different
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving separate checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one nation but when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most notably regulations compliance information security and banking rules then there are the large numbers they include more intricacy the international Labor force is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the traditional payroll model there's frequently an overwhelming number of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or extremely extremely fundamental there's no genuine consistency framework we're living in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind every 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 businesses say they have Labor force data in real time that's another number that offers me sleepless nights and quite honestly the more a company spends on global payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of global organizations have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes inadequately communicated hires and terminations in addition to lack management and system setups and then when you round everything off and the information is delivered to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're paying to employees or otherwise that's an excellent concern I always throw this back and state what is it what doesn't need to be included ideal and what does
it need to be thought about there's varying Bank information 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 need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy wherever you look best eventually developing a knowledge base is absolutely important however everywhere you look with payroll payment they resemble super 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 think there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to type of progress with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup procedures is absolutely imperative that payroll and finance groups work closer together than ever um I'm always astonished 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 work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as a market 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 information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on well-being and the compensation landscape is ending up being significantly elaborate. Businesses are constantly presenting new benefits and payment options, which adds to the total intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can cause inadequacies and traffic jams. In my opinion, this doesn't have to be the case. In today's technologically innovative era, there's no justification for preserving troublesome procedures. Payroll, the company's greatest expense, must be processed properly and on time. Even small hold-ups can negatively impact staff members' well-being and have significant repercussions. Therefore, it's crucial to focus on precise and timely payments.
The payroll group may not have actually been thanked for correctly processing payroll during 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 people only observe when things go wrong. However, when things go right, it's seen as just a regular task. This is how it's perceived externally also. Therefore, it is vital to make sure that tasks like Wi-Fi Global and other essential matters are done properly. Using the very first Worldwide Payments first payroll payment service is a great initial step towards supplying a thorough payroll service for workers worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and bank accounts necessary for global payroll are essential factors in accomplishing service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we know how how essential 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 associated with those processes and also so picture sorry I'm just I was just gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating job 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 check out them and actually see what was going on and kind of try to get back to everyone so carrying on look why do business select to main separate savings account there are companies out there doing precisely this for particular countries and I have actually operated in an organization or numerous services doing precisely that I can say it does not constantly feel effective and it does develop 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 managing that process 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 requirement I believe people have got so used to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a process that needs looking at it requires changing but eventually people are very stuck with what they're familiar
with ideal um modification is a hard thing all of us don't like change um so I believe it's just sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having preserving numerous savings account but there's a substantial quantity of complexity goes with setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the intricacy is big however I believe the truthful answer is change um individuals haven't been able to change or haven't had always the knowledge to really make that change into alternate Solutions other than opening a savings account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century or two there is a lot to track and this approach does position several obstacles um so Johnny might you tell us about those difficulties yeah naturally 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you deserve a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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