Find out more about Papaya Global Burundi ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and secure and trustworthy technique of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
Employee Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive advantages packages to international workers no matter the number of workers in the company. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source regional advantages companies in every country, produce local accounts and have a minimum number of staff members.
The HR capabilities provided by International HR encompass numerous functions such as keeping track of trip time, ensuring compliance, facilitating the procedure of welcoming new employees and bidding farewell to departing ones, offering a safe online platform for storing workers' documents, and providing support for work permit procedures in case your employees need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total work expenses dispersed per place, total employment costs per cycle and far more.
Internationally, I have shown leadership and strategic knowledge in guiding large-scale populations of over 100,000 employees across 170 nations. Currently, I are accountable for overseeing payroll strategies, as mentioned by Mark. My role involves managing and establishing external partnerships, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
company to make the time 100 list for a lot of influential companies worldwide we offer payroll payments and workforce management to all staff member enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent evening depending on where you are 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 ten years and specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually type of had a range of different functions on the supplier side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I really 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 very extremely gloomy and I wish I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies preserve different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how business properly forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in sufficient in one nation however when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of factors most notably guidelines compliance information security and banking guidelines then there are the sheer numbers they add additional complexity the global Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll model there's frequently a frustrating variety of different systems causing lengthy manual processes and silos the variety of Combinations could be non-existent in big quantities and or very very fundamental there's no real consistency framework we're living in a period of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just 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 just 11 of businesses state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization spends on international payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of international organizations have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the data is shipped to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they count on the needed numerous processes 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 making payments to workers or otherwise that's an excellent concern I always throw this back and say what is it what does not need to be consisted of right and what does
it require 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 amount of time 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 eventually developing a knowledge base is absolutely important however all over you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to kind of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely imperative that payroll and financing teams work closer together than ever um I'm constantly astonished when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation 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 process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on well-being and the payment landscape is ending up being increasingly detailed. Companies are continually introducing brand-new advantages and payment alternatives, which contributes to the general intricacy. Big corporations typically divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technically advanced age, there's no reason for preserving cumbersome treatments. Payroll, the company's greatest expense, should be processed properly and on time. Even slight delays can negatively affect staff members' well-being and have far-reaching repercussions. For that reason, it's crucial to focus on precise and prompt payments.
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only see when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally as well. Therefore, it is vital to guarantee that jobs like Wi-Fi Global and other crucial matters are done properly. Using the very first International Payments very first payroll payment service is a great initial action towards supplying an extensive payroll solution for staff members worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and savings account needed for worldwide payroll are key consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things do not go as planned. Eventually, we do not do it for the appreciation.
anyway 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 procedures and likewise so picture sorry I'm just I was simply gon na state think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions think of getting that many 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 interesting task trying to clean up all those up for sure oh absolutely 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 attempt to browse them and actually see what was going on and type of shot to return to everyone so moving on appearance why do business choose to main different checking account there are companies out there doing precisely this for particular countries and I've operated in an organization or numerous businesses doing exactly that I can say it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not creating extra work for anyone where we do not need to and any person that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous factors one is it's the standard I think individuals have got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have actually adopted and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I think this is a procedure that requires taking a look at it requires changing but ultimately people are very stuck with what they're familiar
with best um modification is a difficult thing we all do not like change um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having preserving several bank accounts however there's a huge amount of complexity goes with establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for individual individuals so the complexity is big however I believe the truthful answer is change um people have not been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an element of resistance to change but we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might practically be identified to be the next Century or so there is a lot to monitor and this method does position numerous challenges um so Johnny could you tell us about those obstacles yeah of course 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 acquired another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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