Find out more about Sure Payroll Vs Papaya Global ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to handling payments. This provides us with a protected and reliable method of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app enhances my payroll procedure, saving me a substantial amount of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
The Employee Portal offers staff members with the ability to access and view important documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global assists business offer competitive advantages bundles to worldwide employees regardless of the number of employees in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional benefits companies in every country, create regional accounts and have a minimum number of staff members.
The HR capabilities provided by International HR incorporate various functions such as monitoring vacation time, making sure compliance, assisting in the process of inviting new employees and bidding farewell to departing ones, offering a safe and secure online platform for saving employees' files, and providing assistance for work permit treatments in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall employment expenses distributed per location, total employment expenses per cycle and a lot more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across business handling and building external relationships supporting Enterprise clients and options as well as functioning as a consultant for those of you that don't know who papaya International is papaya is the first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually sort of had a range of different roles on the service provider side and likewise on the vendor side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely bleak and I wish I was elsewhere 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 looking at the obstacle years of handling Global payroll why business keep different
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially useful for global organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of preserving separate bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic possession for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in enough in one country 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 guidelines compliance information security and banking rules then there are the sheer numbers they include more complexity the global Labor force is presently 3 and a half billion individuals by 2030 it's approximated 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 services and growing all doing their own thing around the globe in the traditional payroll model there's often an overwhelming variety of various systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or really really fundamental there's no genuine consistency framework we're residing in an era 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 which just blows my mind each time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of an image they see an absence of presence also reaches payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of global services have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors improperly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is delivered to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties service face when they're paying to workers or otherwise that's a great concern I constantly throw this back and say what is it what doesn't need to be included best and what does
it require to be thought of 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 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 client's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is absolutely critical but 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 between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is enabling us to kind of move on with that it likewise too to add to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely crucial that payroll and financing groups work closer together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate 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 frequently 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 people any place they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to add to kind of the level of intricacy there's increasingly more benefits being organ or being used by companies across the world so again you're just looking to add a growing number of payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real obstacles or genuine tough kind of pay utilizes to play to pay people I think yeah I imply over the last well yeah a couple of decades I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding information into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we need to create additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and a period that you understand that we are working in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any company has from a cost viewpoint from an impact viewpoint on employees it is absolutely crucial that it's done properly and on time so what we suggest 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 result on people's wellness and lots of other factors if people aren't paid uh I have actually always been astonished coming into this Market sort of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only observe when things fail. However, when things go right, it's viewed as just a routine job. This is how it's perceived externally as well. For that reason, it is necessary to ensure that tasks like Wi-Fi Worldwide and other important matters are done properly. Utilizing the first Worldwide Payments very first payroll payment solution is a fantastic preliminary action towards providing a detailed payroll option for staff members worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and checking account required for worldwide payroll are key factors in attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyhow 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 simple as possible for everyone that's associated with those processes and also so envision sorry I'm just I was simply gon na say envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job trying to clean up all those up for sure oh absolutely I can't think of 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 in fact see what was going on and kind of try to get back to everybody so proceeding appearance why do companies select to main separate checking account there are organizations out there doing exactly this for specific nations and I have actually operated in an organization or numerous services doing precisely that I can say it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not creating additional work for anybody where we do not have to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you think 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 believe people have got so used to we need a new checking account we open an entity and appropriately 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 just been the standard and the standard the people have actually embraced 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 ways um to to type of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs changing however eventually people are very stuck with what they're familiar
with ideal um change is a difficult thing all of us do not like change um so I think 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 understand certainly the advantages of having maintaining several savings account but there's a substantial quantity of intricacy chooses setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's established with the right user accesses for individual individuals so the intricacy is substantial however I believe the truthful response is modification um people have not had the ability to change or have not had always the understanding to really make that change into alternate Solutions other than opening a checking account I believe you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to alter however we've always done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be determined to be the next Century or so there is a lot to track and this technique does pose several obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your achievements.