Find out more about Papaya Global Payroll For Restaurants ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a protected and trusted technique of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, conserving me a significant quantity of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
The Staff member Portal supplies workers with the ability to access and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits plans to worldwide employees despite the variety of employees in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every country, produce local accounts and have a minimum number of staff members.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total work costs distributed per area, total work expenses per cycle and a lot more.
environments around the world I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout business handling and building external relationships supporting Enterprise clients and solutions along with serving as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential business worldwide we provide payroll payments and labor force management to all worker enters over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent evening depending upon where you remain in the world it's beautiful to meet 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 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've kind of had a range of various roles on the supplier side and also on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very extremely dreary and I want I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies preserve different
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is especially helpful for global organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in enough in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most significantly guidelines compliance information security and banking rules then there are the large numbers they include more intricacy the global Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the standard payroll design there's often an overwhelming variety of various systems leading to lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or extremely very fundamental there's no real consistency framework we're residing in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a company invests in international payroll the less of an image they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of international services have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes improperly communicated hires and terminations along with absence management and system setups and after that when you round all of it off and the information is delivered to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they rely on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're making payments to staff members or otherwise that's an excellent question 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 considered there's differing 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 have to pay from the client's own in-country account so there's complexity anywhere you look ideal ultimately building a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble very payments no if but 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 acknowledgment that payroll payments are definitely basic and innovation is permitting us to sort of move forward with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely vital that payroll and finance groups work better together than ever um I'm constantly impressed when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to add to sort of the level of intricacy there's a growing number of advantages being organ or being used by organizations throughout the world so once again you're simply seeking to add a growing number of payments to this already complicated landscape so if you sort of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine challenges or genuine difficult sort of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would certainly state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding details into the next function as it were that's really handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era 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 agreed and rightly as you stated payroll is the single biggest liability that any service has from an expense perspective from an impact viewpoint on employees it is definitely important that it's done properly 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 biggest harmful impact on people's wellness and many other elements if individuals aren't paid uh I've always been surprised entering this Market sort of the last five to ten years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only discover when things fail. However, when things go right, it's seen as simply a routine job. This is how it's viewed externally too. For that reason, it is important to guarantee that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first International Payments first payroll payment solution is an excellent preliminary step towards providing an extensive payroll option for employees worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and bank accounts required for global payroll are key consider achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things do not go as planned. Eventually, we do not do it for the appreciation.
anyhow we understand 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 everyone that's associated with those processes and also so picture sorry I'm just I was simply gon na state think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and really see what was going on and sort of shot to get back to everybody so moving on look why do business select to primary separate savings account there are businesses out there doing precisely this for specific nations and I've worked in a company or many services doing exactly that I can say it does not always feel efficient and it does develop more work I understand we're not purposely doing that we're not producing extra work for any person where we do not need to and any person that's handling 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 think many reasons one is it's the requirement I believe people have got so utilized 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 number of markets where it's not a requirement so I think it's just been the requirement and the standard the people have embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and many other methods um to to type of do it so I think there's a variety I believe this is a process that needs taking a look at it needs altering but eventually people are very stuck with what they recognize
with best um change is a tough thing all of us do not like modification um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having preserving multiple savings account however there's a big amount of intricacy goes with establishing a bank 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 complexity is substantial but I think the truthful response is modification um people have not had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you have actually hit 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 always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could nearly be determined to be the next Century or two there is a lot to track and this method does position numerous obstacles um so Johnny might you tell us about those difficulties yeah of course so there's a variety 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 tasks on one platform. It feels like our CFO has gained another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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