Find out more about Papaya Global Payroll Correction ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a protected and reliable method of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app streamlines my payroll process, saving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Staff member Portal supplies employees with the capability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to global staff members despite the variety of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source local advantages companies in every country, create local accounts and have a minimum number of workers.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total employment costs dispersed per location, overall employment expenses per cycle and much more.
Globally, I have actually shown management and strategic know-how in assisting massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for managing payroll strategies, as mentioned by Mark. My role involves managing and developing external collaborations, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for many influential business on the planet we provide payroll payments and workforce management to all staff member key ins 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 excellent afternoon good evening depending on where you are in the world it's charming to satisfy 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 have actually remained in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually sort of had a range of various roles on the service provider side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather 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 originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely very gloomy 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 obstacle years of managing International payroll why business keep different
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly useful for worldwide organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic asset for payroll executives. We will likewise offer a recap of the main points 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 worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in enough in one nation but when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of factors most significantly guidelines compliance information security and banking rules then there are the sheer numbers they add additional complexity the worldwide Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals 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 around the world in the traditional payroll model there's often a frustrating number of different systems resulting in lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely really fundamental there's no genuine consistency framework we're living in an age 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 just blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more a company spends on international payroll the less of an image they see a lack of visibility likewise reaches payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide organizations have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes badly communicated hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is shipped to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they depend on the required multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're making payments to employees or otherwise that's an excellent concern I constantly throw this back and say what is it what does not require to be consisted of best 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 amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely important but all over you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to kind of move on with that it also also to add to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely important that payroll and financing teams work better together than ever um I'm constantly surprised when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on well-being and the settlement landscape is becoming significantly elaborate. Companies are continuously presenting new advantages and payment alternatives, which contributes to the general intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can result in inadequacies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technologically innovative age, there's no validation for keeping cumbersome procedures. Payroll, the company's biggest expenditure, need to be processed properly and on time. Even slight hold-ups can negatively affect employees' wellness and have far-reaching effects. For that reason, it's important to focus on accurate and timely payments.
payroll group get um so I'm not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment service is a terrific primary step um providing an end-to-end payroll option for your workers worldwide once again I think is another huge um process again aligning and ensuring you have standardization International procedures all of those things are definitely key to success success of services and lowering the number of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone quite where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyway we understand how how crucial 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 simple as possible for everybody that's associated with those processes and also so imagine sorry I'm just I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and kind of shot to get back to everybody so proceeding appearance why do business select to primary separate savings account there are services out there doing precisely this for particular countries and I've worked in a company or many organizations doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not intentionally doing that we're not creating extra work for anybody where we do not need to and anyone that's dealing with that process I 'd be interested to hear your thoughts 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 requirement I think people have got so utilized to we need a brand-new savings 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 requirement and the norm the people have adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it needs altering however ultimately people are extremely stuck with what they're familiar
with ideal um change is a hard thing all of us do not like modification um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having keeping multiple savings account but there's a huge quantity of intricacy goes with establishing a savings account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for individual individuals so the intricacy is substantial but I believe the honest response is change um people haven't been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to track and this method does pose several obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your achievements.
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