Find out more about Papaya Global Benin ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a protected and reliable technique of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Employee Portal offers staff members with the ability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive benefits packages to global employees despite the variety of staff members in the company. The business can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits service providers in every country, create regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall work expenses distributed per area, overall work expenses per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work across the business handling and building external relationships supporting Business clients and solutions in addition to functioning as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for a lot of prominent business on the planet we provide payroll payments and labor force management to all worker enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon good evening depending upon where you remain in the world it's beautiful to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and specifically 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 kind of make a genuine go at that over the last five or six years where I have actually type of had a range of different functions on the service provider side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone comes from and I really 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 extremely dreary and I wish I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why business maintain separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex challenge for organizations running globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to enhance working capital, and discover how streamlining international payroll payments can change them from a difficult task into a strategic property.
Managing payroll worldwide is a difficult job due to various regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of workers and businesses adds to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and a lack of combination, leading to inconsistencies and inefficiencies. Regardless of living in an era of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to supply insights and services to streamline and optimize global payroll payments.
about it to give you a concept 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 provides me sleepless nights and quite honestly the more a business spends on worldwide payroll the less of a photo they see a lack of presence likewise reaches payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the deal almost half of global businesses have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry mistakes poorly interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is shipped to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they rely on the needed numerous processes 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 service face when they're making payments to employees or otherwise that's a great concern I constantly throw this back and say what is it what doesn't need to be included ideal and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 customer's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is definitely critical however everywhere you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to sort of progress with that it also too to add to that payroll and financing need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and financing teams work more detailed together than ever um I'm always astonished when individuals state 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 occupation would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more important to add to kind of the level of intricacy there's increasingly more advantages being organ or being used by businesses across the world so again you're just seeking to add a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real difficulties or real tough type of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a number of years I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we require to develop extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an era that you know that we are operating in today there is no reason that we are still making this as hard as it requires to be concurred and rightly as you stated payroll is the single most significant liability that any business has from a cost viewpoint from an impact point of view on workers it is absolutely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest harmful result on people's well-being and numerous other aspects if people aren't paid uh I've constantly been amazed coming into this Market sort of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment option is a fantastic first step um supplying an end-to-end payroll solution for your workers worldwide again I believe is another huge um procedure once again lining up and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of businesses and reducing the number of tools platforms and checking account they require for their Worldwide 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 had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how important 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 simple as possible for everyone that's associated with those processes and also so imagine sorry I'm simply I was just gon na state picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that numerous 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 absolutely be a fascinating job attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and in fact see what was going on and kind of try to get back to everybody so moving on look why do companies choose to main different bank accounts there are organizations out there doing precisely this for particular countries and I've operated in an organization or lots of businesses doing exactly that I can say it does not always feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing additional work for anyone where we don't have to and any person that's dealing with 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 amount that we are I think many reasons one is it's the requirement I think people have got so used to we need a brand-new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I believe this is a process that requires taking a look at it needs altering however eventually people are really stuck with what they recognize
with best um modification is a challenging thing we all do not like modification um so I think 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 understand certainly the advantages of having preserving several bank accounts however there's a huge quantity of intricacy goes with establishing a checking account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private individuals so the complexity is big however I think the sincere answer is modification um people have not been able to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change but we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could almost be determined to be the next Century or two there is a lot to monitor and this method does present several difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I just did you switched 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 Worldwide workers you are worthy of a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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