Find out more about Papaya Global Payroll Clio Integration ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to managing payments. This offers us with a secure and reliable method of making payments to our 10,000 employees worldwide.}
The advanced international payroll management app streamlines my payroll process, saving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Staff member Website offers workers with the capability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to international employees despite the variety of employees in the business. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional advantages providers in every nation, develop regional accounts and have a minimum variety of workers.
The HR abilities supplied by International HR encompass various functions such as keeping track of vacation time, ensuring compliance, assisting in the process of inviting brand-new employees and bidding goodbye to departing ones, using a secure online platform for storing workers' files, and supplying support for work permit treatments in case your employees require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total work expenses distributed per place, overall work expenses per cycle and a lot more.
Internationally, I have shown leadership and tactical expertise in directing massive populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for managing payroll techniques, as mentioned by Mark. My function involves managing and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, 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 solutions for the past 7 years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I have actually type of had a variety of various roles on the company side and also on the supplier side from a payroll perspective so really 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 everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everybody 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 drizzling here it's extremely extremely dreary and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why business preserve different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of keeping different savings account 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 talk about why they are ending up being 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 safely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most significantly guidelines compliance data security and banking guidelines then there are the sheer numbers they add more intricacy the international Labor force is presently three and a half billion people by 2030 it's estimated 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 typically a frustrating number of different systems leading to lengthy manual processes and silos the variety of Combinations could be non-existent in large amounts and or very very standard there's no genuine consistency framework we're living 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 frequently with pen and paper which just blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more a business spends on global payroll the less of a picture they see a lack of visibility also encompasses payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of international companies have actually revealed that they do not 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 information entry mistakes poorly interacted hires and terminations as well as lack management and system setups and then when you round it all off and the data is shipped to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they rely on the required several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to employees or otherwise that's a good concern I constantly throw this back and say what is it what doesn't need to be included ideal and what does
it need to be thought of there's varying Bank information 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look best eventually developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if however some children 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 recognition that payroll payments are absolutely basic and technology is permitting us to type of move on with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and financing groups work closer together than ever um I'm constantly astonished when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not 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 eventually 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 however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more crucial to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being offered by organizations across the world so once again you're just seeking to include increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real difficulties or genuine tough type of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding information into the next function as it were that's actually 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 in the processes that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason that we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any company has from a cost perspective from an effect point of view on employees it is absolutely vital that it's done correctly and on time so what we imply 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 effect on individuals's well-being and lots of other factors if individuals aren't paid uh I have actually constantly been astonished entering into this Market type of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just discover when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. For that reason, it is essential to guarantee that jobs like Wi-Fi Worldwide and other important matters are done correctly. Using the very first Worldwide Payments very first payroll payment solution is a terrific initial step towards offering an extensive payroll solution for employees worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and bank accounts needed for international payroll are essential factors in attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we understand 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 easy as possible for everybody that's involved in those processes and likewise so think of sorry I'm just I was simply 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 sure we're speaking about numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and in fact see what was going on and sort of try to get back to everyone so proceeding look why do business choose to primary different savings account there are businesses out there doing exactly this for particular countries and I have actually worked in a service or lots of services doing precisely that I can state it does not constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not creating extra work for anyone where we don't need to and any person 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 requirement I think people have actually got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I think this is a procedure that needs taking a look at it requires changing however eventually people are very stuck with what they're familiar
with best um change is a challenging thing all of us don't like change um so I believe it's simply 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 understand certainly the advantages of having keeping multiple checking account however there's a substantial amount of complexity opts for establishing a savings account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for private individuals so the complexity is big however I believe the honest answer is modification um individuals have not had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century or so there is a lot to monitor and this technique does posture several difficulties um so Johnny might you inform us about those obstacles yeah of course so there's a range 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 Worldwide staff members you deserve a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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