Find out more about Papaya Global Payroll Insured ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to managing payments. This provides us with a protected and trustworthy approach of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to global employees despite the number of staff members in the business. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source local advantages providers in every nation, produce local accounts and have a minimum variety of employees.
The HR capabilities provided by Worldwide HR include various functions such as keeping track of getaway time, ensuring compliance, helping with the process of welcoming new employees and bidding goodbye to departing ones, using a protected online platform for keeping workers' documents, and supplying assistance for work permit procedures in case your employees require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total employment costs dispersed per area, total employment expenses per cycle and much more.
environments across the globe I provided management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout business managing and structure external relationships supporting Business customers and solutions in addition to serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential companies worldwide we offer payroll payments and workforce management to all worker key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending on where you remain in the world it's lovely to satisfy you and thank you quite 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 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of various functions on the company side and likewise on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another number of uh well one of 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 rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really extremely bleak and I wish 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 taking a look at the difficulty years of managing Global payroll why business preserve separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially beneficial for global organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business properly forecast their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in adequate in one country but when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most importantly regulations compliance information security and banking guidelines then there are the large numbers they add further complexity the international 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 factor in that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll design there's frequently an overwhelming number of different systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in large quantities and or really really basic there's no real consistency framework we're living in a period of tech but payroll has actually 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 just blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that gives me sleep deprived nights and rather honestly the more a service spends on worldwide payroll the less of an image they see an absence of presence also reaches payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide companies have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors badly communicated hires and terminations in addition to lack management and system setups and after that when you round everything off and the data is delivered to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they depend on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're paying to employees or otherwise that's an excellent question I constantly toss this back and say what is it what does not need to be consisted of right and what does
it require to be thought about there's varying Bank details 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is absolutely crucial however all over you look with payroll payment they resemble extremely payments no if however some babies 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 think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to type of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely imperative that payroll and financing teams work more detailed together than ever um I'm always astonished when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide 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 process it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to add to kind of the level of complexity there's more and more advantages being organ or being provided by businesses across the world so again you're simply looking to include more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real difficulties or real tough kind of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding details into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we operate in they simply make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from an expense viewpoint from an impact perspective on workers it is definitely crucial that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging result on individuals's wellness and lots of other aspects if people aren't paid uh I've constantly been surprised entering into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm unsure anyone on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done properly so leveraging the very first International Payments first payroll payment solution is an excellent first step um offering an end-to-end payroll solution for your workers globally once again I believe is another substantial um procedure once again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely essential to success success of companies and reducing the number of tools platforms and bank accounts they need for their International 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 don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're implied to be um I do not think any of us are in fact doing that for for the thanks
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 everyone that's associated with those procedures and likewise so envision sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task attempting to clean up all those up for sure oh definitely 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 browse them and actually see what was going on and type of shot to get back to everyone so moving on appearance why do business choose to primary separate savings account there are organizations out there doing precisely this for particular nations and I have actually worked in a business or numerous services doing exactly that I can state it does not constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not creating additional work for any person where we don't have to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many reasons one is it's the requirement I believe people have got so utilized to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I think this is a procedure that needs looking at it needs changing however eventually people are very stuck to what they recognize
with right um modification is a difficult thing all of us do not like change um so I think it's just sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having keeping several bank accounts but there's a big amount of intricacy chooses establishing a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the intricacy is huge however I believe the sincere response is modification um individuals haven't had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or two there is a lot to keep an eye on and this approach does pose numerous obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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