Find out more about Papaya Global Côte D'ivoire ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and trustworthy approach of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Staff member Website offers workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to global staff members despite the variety of employees in the company. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits service providers in every country, produce local accounts and have a minimum number of workers.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total employment expenses dispersed per place, overall employment costs per cycle and a lot more.
Internationally, I have actually demonstrated leadership and strategic knowledge in guiding large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for managing payroll techniques, as discussed by Mark. My function includes handling and developing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for the majority of prominent companies in the world we supply payroll payments and workforce management to all worker types in over 160 nations 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 great afternoon excellent evening depending on where you are in the world it's charming to satisfy 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 been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've sort of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or so to join all of us 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 currently simply to hear where everybody is um it's nice to to kind 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 extremely really 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 looking at the challenge years of handling International payroll why companies keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll likewise review a recap which must leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more common and handling them becomes a growing number of complex Worldwide companies are wanting to discover Solutions and new ways to enhance procedures especially from a payroll and cross-border payment perspective lots of companies preserve separate savings account just for payroll while some have numerous accounts in various nations does it make good sense for business to maintain different checking account sometimes in different nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business streamline the episode complex procedures of
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for organizations running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, find out how business forecast payroll costs to enhance working capital, and discover how streamlining worldwide payroll payments can transform them from a troublesome job into a strategic possession.
Handling payroll worldwide is a daunting task due to different regulations, compliance requirements, information security issues, and banking rules. The sheer variety of staff members and organizations adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. In spite of living in a period of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and options to simplify and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a service spends on international payroll the less of an image they see an absence of presence likewise reaches payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal nearly half of international services have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors inadequately interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is delivered to the incorrect place the average cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they count on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're making payments to staff members or otherwise that's a great concern I always throw this back and say what is it what doesn't require to be included right and what does
it need to be thought of there's varying Bank information 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 anywhere you look ideal eventually developing a knowledge base is definitely vital but everywhere 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 take a look at the type 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 basic and innovation is permitting us to kind of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and finance groups work better together than ever um I'm always amazed when people say I've divided payroll and payment um if you walk 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 a market 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 data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to add to kind of the level of complexity there's a growing number of benefits being organ or being offered by services throughout the world so again you're simply wanting to include a growing number of payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine difficulties or genuine difficult kind of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a number of years I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to develop additional handoffs in the processes 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 a period that you know that we are operating in today there is no reason that we are still making this as difficult as it requires to be agreed and rightly as you said payroll is the single biggest liability that any business has from a cost perspective from an effect viewpoint on staff members it is absolutely crucial that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant destructive impact on individuals's well-being and numerous other aspects if individuals aren't paid uh I have actually constantly been amazed coming into this Market sort of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done properly so leveraging the very first Global Payments first payroll payment solution is an excellent first step um offering an end-to-end payroll solution for your staff members globally again I think is another big um procedure once again lining up and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of businesses and decreasing the variety of tools platforms and bank accounts they need for their International 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've never ever had a hundred thousand of them within a payroll cycle don't anticipate 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 indicated to be um I do not believe any of us are actually doing that for for the thanks
anyway we know 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 easy as possible for everybody that's associated with those processes and likewise so picture sorry I'm just I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job attempting to clean up 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 check out them and really see what was going on and type of try to return to everyone so proceeding appearance why do business pick to main separate checking account there are businesses out there doing precisely this for particular nations and I've operated in a company or many companies doing precisely that I can say it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not producing additional work for anyone where we do not have to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the standard I believe people have got so used to we need a new checking account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I think this is a procedure that requires looking at it requires changing however eventually individuals are extremely stuck to what they're familiar
with ideal um modification is a challenging thing we all don't like change um so I believe it's just 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 obviously the advantages of having maintaining several checking account however there's a huge quantity of intricacy opts for establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is huge but I believe the truthful response is modification um individuals have not been able to change or have not had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to change but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might practically be identified to be the next Century or so there is a lot to track and this method does present numerous challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply 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 Global workers you should have a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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