Find out more about Papaya Global Afghanistan ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and dependable technique of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and specialists
The Staff member Website provides staff members with the ability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global assists companies use competitive benefits packages to worldwide workers despite the variety of workers in the company. The company can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source local benefits providers in every country, develop local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall employment costs distributed per place, overall work expenses per cycle and far more.
Worldwide, I have actually demonstrated management and strategic knowledge in assisting massive populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for supervising payroll strategies, as pointed out by Mark. My role involves handling and establishing external collaborations, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment services for the past 7 years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually sort of had a range of different functions on the service provider side and also on the supplier side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely dreary and I want I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll likewise go over a recap which must leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more common and handling them becomes more and more complex Global organizations are looking to find Solutions and brand-new ways to enhance procedures specifically from a payroll and cross-border payment viewpoint lots of companies preserve different checking account just for payroll while some have multiple accounts in various countries does it make sense for business to preserve different checking account sometimes in different countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies streamline the episode complex processes of
making payroll payments precisely effectively securely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being complex for a variety of factors most importantly policies compliance data security and banking guidelines then there are the large numbers they include further complexity the international Labor force is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the standard payroll design there's often a frustrating number of various systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or really really fundamental there's no real consistency framework we're residing in an era 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 simply blows my mind every 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 businesses say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more a service invests in worldwide payroll the less of a photo they see an absence of presence likewise reaches payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide organizations have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly communicated hires and terminations in addition to absence management and system setups and then when you round all of it off and the information is delivered to the incorrect location the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they count on the essential multiple 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 challenges business face when they're paying to staff members or otherwise that's a good concern I always throw this back and say what is it what does not require to be consisted of 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 time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity wherever you look ideal eventually constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to sort of move on with that it likewise too to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely important that payroll and finance teams work better together than ever um I'm constantly astonished when people state 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 profession would they split 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on well-being and the payment landscape is ending up being significantly intricate. Companies are continually introducing brand-new advantages and payment options, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and bottlenecks. In my opinion, this does not have to be the case. In today's technically sophisticated era, there's no justification for keeping troublesome treatments. Payroll, the business's greatest expense, must be processed properly and on time. Even slight hold-ups can negatively impact staff members' well-being and have far-reaching repercussions. For that reason, it's important to focus on precise and prompt payments.
payroll group get um so I'm not sure anyone on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise 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 definitely crucial that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment option is a fantastic first step um supplying an end-to-end payroll option for your employees internationally once again I believe is another big um procedure once again lining up and ensuring you have standardization International processes all of those things are absolutely key to success success of services and lowering the number of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyhow we understand how how crucial a role 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 involved in those procedures and likewise so picture sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions think of getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job attempting 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 attempt to check out them and really see what was going on and sort of shot to get back to everyone so carrying on appearance why do companies choose to main different bank accounts there are companies out there doing precisely this for specific nations and I have actually worked in an organization or numerous services doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing additional work for any person where we don't need to and anyone that's dealing with 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 believe numerous reasons one is it's the standard I believe individuals have actually got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I believe this is a process that requires looking at it requires altering but eventually individuals are really stuck to what they're familiar
with best um modification is a tough thing all of us don't like change um so I believe it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having keeping numerous checking account but there's a substantial amount of complexity opts for establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific people so the complexity is substantial however I believe the sincere response is change um people have not had the ability to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a savings account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century or so there is a lot to monitor and this approach does position numerous challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner workplace with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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