Find out more about Papaya Global Angola ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to handling payments. This provides us with a secure and dependable technique of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app improves my payroll procedure, saving me a significant quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Worker Portal
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive advantages packages to international workers regardless of the variety of staff members in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits providers in every country, create regional accounts and have a minimum variety of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total work costs distributed per place, overall employment expenses per cycle and a lot more.
Globally, I have actually shown leadership and tactical expertise in assisting massive populations of over 100,000 workers throughout 170 countries. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function includes managing and establishing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for a lot of prominent business worldwide we supply payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon great night depending upon where you are in the world it's lovely to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of various functions on the service provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone 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 sunshine is it it's not no it's it's drizzling here it's extremely extremely dreary and I wish I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical possession uh we'll likewise review a wrap-up which ought to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more common and managing them becomes a growing number of complicated Global organizations are wanting to discover Solutions and brand-new ways to improve procedures especially from a payroll and cross-border payment perspective many companies keep separate savings account just for payroll while some have multiple accounts in various nations does it make good sense for companies to maintain different savings account in some cases in different countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business simplify the episode complex procedures of
Ensuring accurate, efficient, and prompt payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and discover how improving international payroll payments can change them from a difficult task into a strategic property.
Managing payroll internationally is an overwhelming job due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The large number of employees and businesses contributes to the complexity, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual processes, information silos, and an absence of combination, leading to disparities and inefficiencies. Regardless of residing in an age of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and services to simplify and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization spends on international payroll the less of an image they see an absence of visibility also reaches payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors improperly interacted hires and terminations in addition to lack management and system setups and after that when you round all of it off and the data is shipped to the wrong place the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they count on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what does not require to be included ideal and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is absolutely vital however all over you look with payroll payment they are like extremely 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 fundamental and innovation is enabling us to kind of move forward with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and financing groups work closer together than ever um I'm always impressed when individuals state I have actually 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 estimation 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 people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the compensation landscape is ending up being significantly detailed. Organizations are continually introducing brand-new benefits and payment options, which contributes to the overall intricacy. Large corporations often divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this does not need to hold true. In today's technologically innovative era, there's no reason for preserving cumbersome procedures. Payroll, the business's biggest expenditure, need to be processed properly and on time. Even minor delays can negatively affect staff members' wellness and have significant effects. Therefore, it's crucial to focus on precise and timely payments.
payroll team get um so I'm unsure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle all of us hear about it when it fails everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment solution is an excellent first step um providing an end-to-end payroll solution for your staff members internationally once again I think is another huge um process again aligning and guaranteeing you have standardization Global processes all of those things are absolutely crucial to success success of businesses and lowering the number of tools platforms and bank accounts they require for their Global 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've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how crucial 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 procedures and likewise so picture sorry I'm just I was just gon na say envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and really see what was going on and sort of shot to get back to everyone so proceeding look why do companies select to main separate checking account there are services out there doing precisely this for particular nations and I have actually operated in an organization or lots of organizations doing precisely that I can state it does not always feel efficient and it does create more work I understand we're not intentionally doing that we're not creating additional work for anyone where we don't have to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I believe individuals have actually got so used to we require a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I believe this is a procedure that requires looking at it requires changing but eventually individuals are really stuck with what they recognize
with best um modification is a difficult thing we all do not like modification um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving several bank accounts however there's a big quantity of complexity opts for setting up a bank account preserving it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is huge however I think the sincere answer is change um people have not had the ability to change or have not had always the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or two there is a lot to monitor and this approach does posture numerous challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using 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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