Find out more about Papaya Global Payroll Partners ... 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 actually obtained a different Chief Financial Officer specifically devoted to managing payments. This provides us with a secure and trusted technique of paying to our 10,000 workers worldwide.}
The innovative international payroll management app improves my payroll procedure, saving me a substantial amount of time every month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Staff member Website provides workers with the capability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This portal 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 international staff members despite the number of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every country, develop local accounts and have a minimum number of employees.
The HR capabilities offered by Worldwide HR encompass numerous functions such as keeping track of holiday time, guaranteeing compliance, assisting in the process of inviting brand-new staff members and bidding goodbye to departing ones, offering a safe online platform for saving workers' documents, and offering support for work permit procedures in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment expenses distributed per area, total work expenses per cycle and far more.
Globally, I have actually demonstrated management and tactical competence in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Presently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My function includes handling and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for a lot of prominent companies on the planet we provide payroll payments and workforce management to all staff member 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 introduce yourself obviously thank you good morning excellent afternoon great evening depending upon where you are in the world it's lovely 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 particularly working on the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last five or 6 years where I have actually type of had a range of various roles on the provider side and also on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everybody another couple 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 fascinating 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 comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely bleak and I want I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies maintain separate
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is especially beneficial for global companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset 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 properly efficiently safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll costs 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 sufficient in one nation however when you're doing it internationally it's next level and Beyond it becomes complex for a variety of reasons most significantly regulations compliance data security and banking rules then there are the large numbers they include more complexity the worldwide Workforce is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the standard payroll model there's often a frustrating variety of different systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in large amounts and or extremely really standard there's no genuine consistency structure we're living in a period of tech but 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 provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization spends on international payroll the less of an image they see a lack of exposure also encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of international services have actually 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 poor HCM information information entry errors improperly interacted hires and terminations as well as lack management and system configurations and after that when you round all of it off and the data is delivered to the incorrect location the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they depend on the required multiple processes 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 obstacles company face when they're paying to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what does not require to be consisted of right and what does
it need to be thought of there's differing Bank information 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look right ultimately building a knowledge base is absolutely important however all over you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is permitting us to kind of progress with that it also as well to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely essential that payroll and financing groups work more detailed together than ever um I'm always astonished when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation 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 but also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the settlement landscape is becoming significantly elaborate. Companies are continuously introducing new benefits and payment alternatives, which contributes to the total intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to inefficiencies and traffic jams. In my viewpoint, this does not have to be the case. In today's highly sophisticated age, there's no validation for keeping troublesome treatments. Payroll, the business's greatest cost, must be processed properly and on time. Even minor hold-ups can negatively affect employees' wellness and have far-reaching repercussions. For that reason, it's important to focus on precise and timely payments.
payroll team get um so I'm uncertain anybody on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done properly so leveraging the first International Payments first payroll payment service is a great initial step um offering an end-to-end payroll option for your employees internationally once again I believe is another big um process once again lining up and ensuring you have standardization Global procedures all of those things are definitely key to success success of organizations and minimizing the variety of tools platforms and savings account they need for their Global 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 countless them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway 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 involved in those processes and also so think of sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean up all those up for sure oh definitely I can't think of 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 type of try to return to everyone so proceeding appearance why do business pick to primary different bank accounts there are companies out there doing precisely this for particular countries and I have actually worked in a business or many companies doing exactly that I can state it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not producing extra work for anybody where we don't have to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the requirement I believe people have actually got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I think this is a process that needs looking at it requires changing however eventually individuals are extremely stuck with what they recognize
with right um change is a hard thing all of us don't like modification um so I believe it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having preserving several bank accounts but there's a substantial amount of complexity goes with setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for individual people so the complexity is substantial but I believe the sincere response is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter but we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to track and this technique does pose several difficulties um so Johnny might you tell us about those difficulties yeah obviously so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your devotion 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 better, considering your achievements.
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