Find out more about Papaya Global Botswana ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to handling payments. This provides us with a protected and trustworthy approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Employee Website supplies staff members with the capability to gain access to and view crucial documents 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.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to international employees despite the number of staff members in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source regional benefits service providers in every country, produce regional accounts and have a minimum number of employees.
The HR abilities supplied by International HR include numerous functions such as keeping track of holiday time, making sure compliance, helping with the procedure of inviting brand-new employees and bidding goodbye to departing ones, using a safe and secure online platform for keeping workers' files, and offering assistance for work permit procedures in case your workers need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment costs dispersed per location, total employment costs per cycle and much more.
Globally, I have demonstrated management and tactical competence in guiding massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for supervising payroll methods, as discussed by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out 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 mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and decided to type of make a real go at that over the last five or six years where I've sort of had a range of various roles on the supplier side and likewise on the vendor side from a payroll point of view so really anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I actually 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 raining here it's extremely extremely dreary and I want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies preserve separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of maintaining different checking account for payroll in various countries, virtual accounts and digital wallets use 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 strategic possession for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex difficulty for organizations running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to enhance working capital, and find how enhancing global payroll payments can change them from a troublesome task into a strategic asset.
Managing payroll worldwide is an overwhelming task due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The large variety of employees and services adds to the intricacy, with an approximated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently lead to manual processes, data silos, and a lack of combination, resulting in disparities and inefficiencies. Regardless of living in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to provide insights and options to streamline and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of a picture they see a lack of visibility also reaches payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide companies have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes badly communicated hires and terminations as well as absence management and system configurations and then when you round all of it off and the information is shipped to the incorrect location the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they depend on the required several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're paying to staff members or otherwise that's a good question I constantly toss this back and state what is it what doesn't require to be included best and what does
it need to be considered 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 client's own in-country account so there's intricacy anywhere you look right ultimately developing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in 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 technology is permitting us to type of move forward with that it likewise also to add to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely crucial that payroll and financing teams 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 anybody what is payroll who does not work in the payroll profession 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 often 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 individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of essential to add to sort of the level of intricacy there's more and more advantages being organ or being offered by services throughout the world so again you're simply aiming to add more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real challenges or genuine difficult type of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of years I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding details into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we run in they simply make them more timely 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 working in today there is no reason we are still making this as tough as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any service has from a cost point of view 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 have to be done right it has the biggest harmful result on individuals's well-being and lots of other aspects if people aren't paid uh I've constantly been astonished coming into this Market sort of the last five to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just observe when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally as well. Therefore, it is vital to ensure that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Using the very first Global Payments very first payroll payment service is a great preliminary action towards supplying a comprehensive payroll solution for workers worldwide. Standardization, global processes, and minimizing the variety of tools, platforms, and bank accounts essential for international payroll are key factors in attaining service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as planned. Eventually, 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 everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task attempting to clean up 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 require days of the week to try to check out them and really see what was going on and sort of try to get back to everyone so moving on look why do companies select to primary different savings account there are businesses out there doing exactly this for specific countries and I've operated in an organization or numerous companies doing exactly that I can say it doesn't constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for any person where we do not need to and anyone 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 quantity that we are I believe numerous factors one is it's the standard I think people have got so utilized to we need 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 individuals have actually embraced and continue to do over years and years passed by to add 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 process that needs taking a look at it requires altering however eventually individuals are really stuck to what they're familiar
with right um modification is a difficult thing we all do not like change um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having keeping several bank accounts but there's a big quantity of complexity goes with establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the complexity is huge however I believe the honest answer is modification um individuals have not been able to alter or have not had necessarily the knowledge to really 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 knowledge you know and there is an aspect of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century or two there is a lot to keep track of and this approach does posture several challenges um so Johnny might you tell us about those difficulties yeah naturally so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you are worthy of a corner office with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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