Find out more about Papaya Global Payroll Sign Up ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to managing payments. This provides us with a secure and reputable technique of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Staff members have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to international staff members regardless of the variety of workers in the company. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source regional advantages suppliers in every country, create regional accounts and have a minimum variety of employees.
The HR capabilities provided by International HR include numerous functions such as keeping track of vacation time, ensuring compliance, assisting in the procedure of inviting new workers and bidding farewell to departing ones, providing a safe online platform for saving employees' files, and providing support for work allow treatments in case your staff members need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment costs dispersed per location, total work expenses per cycle and far more.
Internationally, I have actually demonstrated leadership and tactical know-how in guiding large-scale populations of over 100,000 staff members across 170 nations. Presently, I are accountable for managing payroll strategies, as pointed out by Mark. My function involves handling and developing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
business to make the time 100 list for many prominent companies on the planet we provide payroll payments and workforce management to all worker enters over 160 countries I am pleased to state 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 good night depending upon where you remain in the world it's beautiful 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've been in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was fascinated 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 5 or 6 years where I've kind of had a variety of different roles on the provider side and also on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give 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 kind of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone 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 really really gloomy and I wish I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business preserve separate
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business accurately forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in adequate in one nation however when you're doing it globally it's next level and Beyond it ends up being complicated for a range of reasons most significantly guidelines compliance information security and banking guidelines then there are the sheer numbers they add further intricacy the global Labor force is currently three and a half billion individuals by 2030 it's approximated 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 services and growing all doing their own thing all over the world in the traditional payroll design there's often a frustrating number of different systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in large quantities and or extremely really fundamental there's no genuine consistency structure we're residing in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization invests in worldwide payroll the less of an image they see an absence of presence also reaches payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the deal almost half of global organizations 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 mistakes are due to time reporting bad HCM data data entry mistakes improperly communicated hires and terminations in addition to absence management and system setups and after that when you round all of it off and the data is shipped to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they count on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a good question I always toss this back and say what is it what doesn't need to be included ideal and what does
it require to be thought about there's differing 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 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 any place you look right ultimately developing a knowledge base is absolutely critical 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 take a look at the type of link 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 technology is enabling us to type of progress with that it also also to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and finance teams work closer together than ever um I'm constantly astonished when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from calculation 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 but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on well-being and the payment landscape is ending up being significantly elaborate. Organizations are continually introducing brand-new advantages and payment choices, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into different teams, which can lead to inadequacies and bottlenecks. In my viewpoint, this does not need to be the case. In today's technically innovative era, there's no justification for preserving troublesome treatments. Payroll, the company's greatest cost, should be processed properly and on time. Even minor hold-ups can negatively impact employees' wellness and have far-reaching repercussions. Therefore, it's critical to prioritize precise and timely payments.
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only notice when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's perceived externally also. Therefore, it is vital to ensure that jobs like Wi-Fi Global and other essential matters are done properly. Using the first International Payments first payroll payment service is a fantastic preliminary action towards supplying an extensive payroll service for employees worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and savings account essential for international payroll are crucial consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as prepared. Ultimately, we do not do it for the appreciation.
anyway 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 involved in those processes and also so picture sorry I'm just I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean 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 try to look through them and in fact see what was going on and type of try to return to everyone so carrying on appearance why do business select to main different checking account there are businesses out there doing exactly this for particular nations and I've worked in a company or lots of businesses doing exactly that I can state it doesn't constantly feel effective and it does produce more work I understand we're not purposely doing that we're not developing extra work for anyone where we don't have to and anyone 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 amount that we are I think numerous reasons one is it's the requirement I think people have got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I think this is a process that needs taking a look at it requires changing but ultimately people are extremely stuck to what they recognize
with right um change is a challenging thing we all do not like change um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having preserving several bank accounts however there's a huge amount of intricacy opts for setting up a checking account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is substantial however I think the sincere answer is change um individuals haven't had the ability to alter or have not had always the understanding to actually make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to alter however we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century or so there is a lot to track and this approach does posture numerous difficulties um so Johnny could you inform us about those difficulties yeah naturally so there's a range right there is so
I just 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 are worthy of a corner workplace with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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