Find out more about Papaya Global Payroll Saturday Hours ... 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 separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and reputable method of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app improves my payroll process, saving me a considerable amount of time each month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Staff member Website offers staff members with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global helps business provide competitive advantages plans to worldwide staff members despite the variety of workers in the company. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every nation, create regional accounts and have a minimum variety of staff members.
The HR abilities supplied by Worldwide HR encompass numerous functions such as monitoring vacation time, guaranteeing compliance, helping with the procedure of inviting brand-new employees and bidding farewell to departing ones, providing a safe and secure online platform for saving workers' documents, and providing support for work allow treatments in case your workers require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall employment expenses dispersed per place, total work costs per cycle and much more.
Worldwide, 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 managing payroll techniques, as pointed out by Mark. My role includes 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 services provider.
company to make the time 100 list for most prominent companies on the planet we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon excellent evening depending on where you are in the world it's lovely to satisfy you and thank you very much 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 market for over 10 years and particularly 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 have actually type of had a variety of different roles on the provider side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently 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 definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely very bleak and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies keep different
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of maintaining separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of reasons most notably policies compliance information security and banking guidelines then there are the large numbers they add further intricacy the global Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 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 frequently an overwhelming number of various systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in large amounts and or very very basic there's no real consistency structure we're residing in an era of tech however payroll has been slow 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 provide you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on international payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal almost half of international companies have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors badly communicated hires and terminations along with absence management and system setups and after that when you round all of it off and the data is delivered to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments don't run efficiently if they depend on the required several 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 challenges organization face when they're making payments to employees or otherwise that's a good concern I always 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 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 abilities 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 intricacy anywhere you look best ultimately building a knowledge base is absolutely important however all over you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is enabling us to kind of progress with that it also also to add to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and finance groups work closer together than ever um I'm always surprised when people state I have actually split payroll and payment um if you walk 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 an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to contribute to type of the level of intricacy there's increasingly more benefits being organ or being used by businesses across the world so again you're simply wanting to include a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real challenges or genuine difficult kind of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of years I would absolutely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in a period 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 concurred and appropriately as you said payroll is the single biggest liability that any company has from a cost viewpoint from an effect viewpoint on employees it is definitely vital 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 need to be done right it has the most significant detrimental effect on people's wellness and many other aspects if individuals aren't paid uh I've always been surprised entering this Market sort of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only see when things fail. However, when things go right, it's seen as just a routine job. This is how it's perceived externally as well. For that reason, it is important to guarantee that jobs like Wi-Fi Worldwide and other essential matters are done properly. Using the first Worldwide Payments first payroll payment solution is a terrific preliminary action towards providing a thorough payroll option for workers worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and checking account required for global payroll are essential factors in accomplishing service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as planned. Eventually, we don't do it for the appreciation.
anyhow we know how how important 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 likewise so think of sorry I'm just I was simply gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions envision getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting task trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and really see what was going on and type of shot to return to everyone so proceeding look why do business pick to main different savings account there are companies out there doing exactly this for particular countries and I've worked in an organization or numerous services doing exactly that I can state it does not always feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not have to and anyone that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe 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 think individuals have actually got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals 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 type of do it so I believe there's a variety I think this is a process that requires taking a look at it requires changing however ultimately people are extremely stuck to what they're familiar
with ideal um change is a challenging thing all of us do not like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having preserving multiple checking account but there's a huge amount of intricacy goes with setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is huge however I think the sincere answer is modification um people haven't been able to change or haven't had always the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to monitor and this method does posture several challenges um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you deserve a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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