Find out more about Papaya Global Burkina Faso ... 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 gotten a separate Chief Financial Officer specifically committed to managing payments. This provides us with a secure and trusted approach of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app streamlines my payroll procedure, saving me a significant quantity of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
The Staff member Website offers workers with the ability to access and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global assists companies offer competitive benefits plans to worldwide staff members regardless of the number of employees in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local advantages companies in every nation, create regional accounts and have a minimum variety of workers.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment costs distributed per place, total work costs per cycle and far more.
Worldwide, I have demonstrated management and strategic expertise in assisting large-scale populations of over 100,000 workers across 170 countries. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function involves managing and developing external partnerships, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for the majority of prominent business in the world we offer payroll payments and labor force management to all staff member types in 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 good afternoon good evening depending on where you are in the world it's charming to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was interested by the complexity the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually kind of had a variety of different roles on the company side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely gloomy and I wish I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why business preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a tactical property uh we'll likewise review a recap and that should leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more common and handling them becomes more and more complicated Worldwide companies are wanting to find Solutions and brand-new methods to enhance procedures specifically from a payroll and cross-border payment perspective numerous organizations preserve different bank account just for payroll while some have numerous accounts in different countries does it make good sense for business to maintain different savings account sometimes in different nations it does but just for payroll exists a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies streamline the episode complex procedures of
Ensuring precise, efficient, and timely payroll payments is a complex challenge for services operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a troublesome job into a strategic property.
Handling payroll globally is a daunting job due to various policies, compliance requirements, data security concerns, and banking guidelines. The sheer variety of workers and services contributes to the complexity, with an approximated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual processes, data silos, and an absence of integration, causing inconsistencies and ineffectiveness. In spite of residing in an age of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to offer insights and options to simplify and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization invests in international payroll the less of an image they see an absence of presence likewise reaches payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal almost half of international organizations have actually revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors inadequately communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is shipped to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they depend on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's a good concern I constantly throw this back and say what is it what doesn't require to be consisted of right and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 consumer's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is definitely vital but everywhere you look with payroll payment they are like extremely payments no if but some infants 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 think there's now a bit more recognition that payroll payments are definitely basic and technology is permitting us to type of move forward with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance teams work closer together than ever um I'm always amazed when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't 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 frequently split and cut up um eventually 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 however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on well-being and the compensation landscape is ending up being progressively complex. Services are continuously introducing brand-new advantages and payment alternatives, which contributes to the general intricacy. Large corporations frequently divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my opinion, this does not need to hold true. In today's technologically sophisticated age, there's no justification for keeping cumbersome procedures. Payroll, the business's greatest expense, need to be processed correctly and on time. Even slight delays can negatively impact employees' wellness and have significant effects. For that reason, it's crucial to focus on accurate and prompt payments.
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only see when things fail. Nevertheless, when things go right, it's seen as simply a routine job. This is how it's viewed externally also. Therefore, it is important to make sure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Using the first Global Payments very first payroll payment solution is a terrific preliminary action towards offering an extensive payroll solution for workers worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and checking account needed for global payroll are key factors in accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as prepared. Eventually, we don't do it for the thankfulness.
anyhow we know how how crucial 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 everyone that's involved in those procedures and also so picture sorry I'm just I was simply gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions picture 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 certainly be a fascinating task attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and kind of shot to get back to everyone so proceeding look why do companies select to primary different checking account there are organizations out there doing precisely this for specific countries and I've worked in a business or many businesses doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not purposely doing that we're not creating additional work for any person 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 amount that we are I believe numerous factors one is it's the standard I think individuals have actually got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs looking at it needs changing but ultimately people are extremely stuck to what they're familiar
with right um change is a hard thing we all do not like change um so I believe it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having maintaining several checking account however there's a huge quantity of complexity chooses establishing a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual people so the intricacy is substantial however I think the honest response is change um individuals have not had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century or two there is a lot to keep track of and this approach does present numerous difficulties um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a modification 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 gotten another CFO, and with this improved capability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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