Find out more about Papaya Global Algeria ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and dependable approach of paying to our 10,000 employees worldwide.}
The advanced global payroll management app enhances 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 professionals.
The Worker Website provides employees with the capability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global helps companies use competitive benefits packages to global employees regardless of the variety of employees in the business. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages providers in every country, develop local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall work costs distributed per area, overall employment expenses per cycle and a lot more.
environments around the world I provided management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business managing and building external relationships supporting Enterprise customers and solutions along with functioning as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for the majority of prominent companies on the planet we offer payroll payments and labor force management to all worker enters over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon excellent night depending upon where you remain in the world it's charming to meet 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 market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've sort of had a variety of various roles on the provider side and also on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already 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 definitely not the peak of the sunlight is it it's not no it's it's raining here it's really really bleak and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business maintain separate
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one nation however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of reasons most notably guidelines compliance information security and banking rules then there are the sheer numbers they include further intricacy the international Workforce is currently 3 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 currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll design there's frequently a frustrating variety of various systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or really really fundamental there's no genuine consistency structure we're living 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 frequently with pen and paper and that simply blows my mind each time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more a business invests in global payroll the less of a photo they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of international companies have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're making payments to employees or otherwise that's an excellent question I constantly throw this back and state what is it what does not require to be included 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 time frames there's payment capabilities 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 intricacy wherever you look right ultimately constructing a knowledge base is absolutely important but everywhere you look with payroll payment they are like incredibly payments no if but some babies 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 believe there's now a bit more acknowledgment that payroll payments are definitely basic and technology is enabling us to type of move forward with that it also as well to add to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely essential that payroll and finance groups work more detailed together than ever um I'm always amazed when individuals state I've split 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 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 typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of important to add to type of the level of complexity there's more and more benefits being organ or being provided by organizations throughout the world so again you're simply looking to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine difficulties or real tough type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce additional handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you understand that we are operating in today there is no reason that we are still making this as difficult as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any service has from a cost viewpoint from an effect point of view on employees it is absolutely crucial that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental result on people's well-being and numerous other elements if people aren't paid uh I have actually always been amazed coming into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anybody 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 eventually payroll is such an essential cycle all of us find out about 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 think that's how it's seen from the external consider as 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 correctly so leveraging the very first Global Payments first payroll payment option is a terrific first step um providing an end-to-end payroll service for your staff members internationally again I think is another huge um process once again aligning and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of businesses and decreasing the number of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we know how how essential a function 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 simply I was simply gon na say picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions think of getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case 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 get back to everybody so moving on appearance why do companies select to main separate savings account there are services out there doing exactly this for particular countries and I have actually operated in an organization or lots of companies doing exactly that I can state it does not constantly feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for any person where we do not have to and anyone that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I think individuals have actually got so utilized to we require a new savings account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I believe this is a process that requires taking a look at it needs altering but ultimately individuals are extremely stuck to what they recognize
with right um modification is a difficult thing all of us don't like change um so I think it's just type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having keeping numerous bank accounts however there's a huge quantity of intricacy chooses establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the complexity is huge however I think the honest answer is change um individuals have not had the ability to alter or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to monitor and this method does pose several challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your achievements.
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