Find out more about Papaya Global Payroll How Long To Process ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and reliable technique of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Staff member Website supplies employees with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to worldwide employees no matter the number of employees in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source regional benefits companies in every country, create regional accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work costs dispersed per location, overall employment costs per cycle and a lot more.
Internationally, I have actually shown management and tactical competence in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as mentioned by Mark. My function includes managing and developing external partnerships, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for many prominent business worldwide we offer payroll payments and workforce management to all worker enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good evening depending on where you are in the world it's lovely to fulfill 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 specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've sort of had a variety of different roles on the supplier side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates 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 very really uninspiring and I want I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business maintain separate
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially helpful for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate 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 tactical possession for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one nation however when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of factors most notably regulations compliance data security and banking rules then there are the sheer numbers they add additional intricacy the global Workforce 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 businesses and growing all doing their own thing around the globe in the traditional payroll model there's frequently an overwhelming variety of different systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in large amounts and or very very basic there's no genuine consistency framework we're residing in an age 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 simply blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly the more a service invests in global payroll the less of an image they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of global services have actually 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 because of time reporting bad HCM information information entry mistakes poorly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the data is shipped to the incorrect location the typical expense of a global data 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 don't run efficiently if they rely on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're making payments to employees or otherwise that's a great concern I constantly throw this back and state what is it what does not need to be included right and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 consumer's own in-country account so there's intricacy anywhere you look best eventually building a knowledge base is absolutely critical 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 take a look at the sort 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 definitely essential and technology is allowing us to kind of move forward with that it also as well to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and financing teams work more detailed together than ever um I'm constantly amazed when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are however 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 ending up being progressively intricate. Services are continuously introducing new advantages and payment choices, which contributes to the total intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my opinion, this does not have to be the case. In today's technically innovative age, there's no reason for maintaining troublesome treatments. Payroll, the business's most significant cost, should be processed properly and on time. Even small hold-ups can negatively impact employees' well-being and have significant repercussions. Therefore, it's important to prioritize accurate and prompt payments.
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only see when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally as well. Therefore, it is important to make sure that jobs like Wi-Fi Worldwide and other crucial matters are done correctly. Using the very first Global Payments very first payroll payment option is an excellent initial step towards offering a detailed payroll service for workers worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and checking account required for international payroll are crucial consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyway we know how how important a function 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 procedures and likewise so think of sorry I'm simply I was just gon na say envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting to clean up all those up for sure oh definitely I can't picture 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 in fact see what was going on and kind of try to return to everybody so moving on look why do companies choose to primary different savings account there are organizations out there doing precisely this for specific nations and I've operated in a company or many companies doing exactly that I can say it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not developing additional work for anybody where we do not need to and anybody that's handling 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 believe numerous reasons one is it's the standard I think people have actually got so utilized to we require a new checking account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm the people have adopted and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I believe this is a process that needs looking at it requires changing however eventually individuals are really stuck to 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 just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having preserving multiple savings account but there's a huge quantity of complexity goes with establishing a bank account keeping it ensuring it can send International transfers guaranteeing it's established with the best user accesses for individual people so the complexity is huge but I believe the sincere response is change um people have not had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to change however we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to track and this approach does pose several obstacles um so Johnny could you tell us about those challenges yeah obviously so there's a variety 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 employees you should have a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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