Find out more about Papaya Global Payroll Documents Disappeared ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and reliable method of paying to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app enhances my payroll procedure, saving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Employee Website supplies workers with the ability to gain access to and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global helps business use competitive advantages packages to global workers despite the variety of employees in the company. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source local advantages service providers in every nation, develop local accounts and have a minimum variety of employees.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall work expenses dispersed per location, total employment costs per cycle and far more.
Worldwide, I have demonstrated management and tactical competence in assisting massive populations of over 100,000 workers across 170 countries. Currently, I am responsible for supervising payroll methods, as discussed by Mark. My function involves handling and establishing external partnerships, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for most influential business worldwide we provide payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon good evening depending upon where you are in the world it's beautiful 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 have actually been in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the intricacy 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 sort of had a range of different roles on the company side and also on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I really 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 really extremely uninspiring and I wish I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in various nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore 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 main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll costs to increase working capital and how improving International 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 globally it's next level and Beyond it ends up being complex for a range of reasons most notably policies compliance data security and banking rules then there are the large numbers they include further complexity the worldwide Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals 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 all over the world in the traditional payroll design there's often an overwhelming number of various systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or very very standard there's no genuine consistency structure we're residing in an age of tech however payroll has 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 each time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite frankly the more a service spends on worldwide payroll the less of an image they see an absence of presence likewise reaches payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global companies have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors badly communicated hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is delivered to the wrong location the average cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run smoothly if they count on the essential several procedures 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 making payments to staff members or otherwise that's an excellent concern I constantly throw this back and say what is it what does not need to be consisted of best and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities 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 anywhere you look right ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to kind of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely necessary that payroll and financing teams work better 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 does not work in the payroll profession 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 procedure it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to add to sort of the level of complexity there's a growing number of benefits being organ or being used by businesses across the world so again you're simply seeking to include a growing number of payments to this already 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 challenges or real tough type of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding details into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an age of tech and an age that you know that we are operating in today there is no reason we are still making this as difficult as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any business has from a cost perspective from an impact point of view on workers it is absolutely critical that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful effect on people's well-being and many other aspects if individuals aren't paid uh I have actually always been astonished coming into this Market kind of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the first Global Payments very first payroll payment option is a great primary step um supplying an end-to-end payroll service for your employees internationally once again I believe is another huge um procedure once again aligning and ensuring you have standardization International processes all of those things are absolutely essential to success success of services and lowering the number of tools platforms and checking account they need 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 had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I do not think any of us are actually doing that for for the thanks
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 simple as possible for everybody that's associated with those procedures and also so picture sorry I'm simply I was just gon na say 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 possibly Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting 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 attempt to look through them and actually see what was going on and sort of shot to return to everybody so proceeding look why do companies pick to primary different checking account there are companies out there doing precisely this for specific nations and I've worked in a business or many companies doing precisely that I can say it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not need to and anybody that's managing 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 quantity that we are I think lots of reasons one is it's the requirement I believe people have actually got so utilized to we need a new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I believe this is a process that requires looking at it requires altering however ultimately individuals are extremely stuck to what they recognize
with ideal um change is a hard thing all of us don't like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having keeping several checking account but there's a huge amount of complexity chooses setting up a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for specific people so the intricacy is huge however I think the truthful answer is modification um people haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I think 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 real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might practically be identified to be the next Century or so there is a lot to keep track of and this approach does posture several challenges um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just did you changed 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 International employees you deserve a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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