Find out more about Papaya Global Djibouti ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and trustworthy approach of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Employee Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The website is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to international workers despite the variety of workers in the company. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every nation, develop regional accounts and have a minimum number of workers.
The HR abilities offered by Worldwide HR include different functions such as monitoring trip time, making sure compliance, facilitating the procedure of welcoming brand-new workers and bidding farewell to leaving ones, offering a safe online platform for storing workers' documents, and offering assistance for work permit procedures in case your workers require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment costs dispersed per place, total employment expenses per cycle and much more.
Globally, I have actually demonstrated management and strategic know-how in assisting large-scale populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for managing payroll methods, as mentioned by Mark. My function includes handling and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a global company, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We focus on providing payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment options for the past 7 years. The intricacies and obstacles of this field have always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've sort of had a variety of different functions on the company side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very extremely uninspiring and I want I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why companies keep different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate checking account for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most notably regulations compliance data security and banking rules then there are the sheer numbers they include further complexity the global Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the standard payroll model there's typically a frustrating variety of various systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or really extremely fundamental there's no real consistency framework we're living in an era of tech however 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 which just blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization spends on international payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide companies 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 errors are due to time reporting bad HCM information information entry mistakes improperly interacted hires and terminations in addition to lack management and system setups and after that when you round everything off and the data is shipped to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they rely on the required multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a great question I always throw this back and say what is it what doesn't require to be included best and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is definitely important but all over 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 between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to type of move on with that it also also to add to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance groups work better 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 operate 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on wellness and the payment landscape is ending up being progressively complex. Services are continuously introducing new advantages and payment alternatives, which adds to the total complexity. Large corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this does not have to be the case. In today's highly sophisticated age, there's no validation for maintaining cumbersome treatments. Payroll, the company's greatest expenditure, should be processed properly and on time. Even slight hold-ups can negatively impact staff members' well-being and have significant consequences. For that reason, it's crucial to focus on precise and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just notice when things go wrong. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's viewed externally too. For that reason, it is essential to ensure that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the very first Global Payments first payroll payment option is a great initial step towards supplying a thorough payroll option for staff members worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and savings account required for global payroll are essential factors in achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyway we understand 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 easy as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and actually see what was going on and kind of try to get back to everybody so carrying on appearance why do companies select to primary different checking account there are services out there doing exactly this for specific nations and I've operated in an organization or lots of organizations doing exactly that I can state it doesn't constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not producing additional work for anybody where we do not need to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many factors one is it's the standard I think individuals have got so utilized to we need a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I think this is a procedure that requires looking at it needs changing but ultimately individuals are really stuck with what they're familiar
with right um modification is a hard thing we all do not like change um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having keeping numerous bank accounts but there's a big quantity of intricacy goes with establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is huge however I believe the honest response is modification um people haven't been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually always done it that way is no real reason for not looking at the the benefits 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 monitor and this approach does posture several obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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