Find out more about Papaya Global Eritrea ... 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 different Chief Financial Officer particularly dedicated to managing payments. This provides us with a secure and reputable technique of making payments to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, conserving me a significant amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Staff member Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and work documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to international staff members despite the variety of employees in the business. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source regional benefits suppliers in every nation, develop local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total work costs distributed per area, overall work expenses per cycle and much more.
environments around the world I provided management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work across business handling and structure external relationships supporting Enterprise customers and services as well as serving as a consultant for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on offering payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I've sort of had a range of different functions on the supplier side and likewise on the vendor side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really extremely bleak and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll also review a wrap-up which ought to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and handling them ends up being increasingly more complicated Worldwide organizations are seeking to find Solutions and brand-new ways to improve procedures specifically from a payroll and cross-border payment standpoint numerous organizations preserve different savings account just for payroll while some have multiple accounts in various nations does it make sense for business to maintain different checking account often in various nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational companies simplify the episode complex procedures of
Ensuring accurate, effective, and timely payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to optimize working capital, and find how simplifying worldwide payroll payments can change them from a challenging task into a tactical possession.
Handling payroll internationally is a difficult job due to various policies, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and organizations adds to the complexity, with an approximated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual procedures, information silos, and an absence of integration, causing inconsistencies and inefficiencies. In spite of living in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and options to streamline and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that gives me sleep deprived nights and rather honestly the more a company invests in international payroll the less of a photo they see an absence of visibility also encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of international organizations have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors badly communicated hires and terminations as well as absence management and system configurations and then when you round everything off and the data is shipped to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they count on the needed several procedures 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 business face when they're paying to staff members or otherwise that's a good concern I always throw this back and say what is it what doesn't need to be consisted of right and what does
it need to be considered there's varying 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 customer's own in-country account so there's intricacy wherever you look right ultimately building a knowledge base is absolutely crucial but everywhere 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 take a 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 innovation is enabling us to kind of progress with that it likewise as well to add to that payroll and financing need to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely important that payroll and finance teams work more detailed together than ever um I'm constantly amazed when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more essential to add to kind of the level of complexity there's a growing number of benefits being organ or being used by companies across the world so again you're just wanting to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine challenges or real tough sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a couple of years I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding info into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce additional handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and a period that you understand that we are operating in today there is no reason we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single biggest liability that any service has from an expense perspective from an effect viewpoint on employees it is definitely critical that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful impact on individuals's wellness and numerous other elements if individuals aren't paid uh I've always been astonished entering into this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all hear about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment solution is a great primary step um providing an end-to-end payroll service for your workers internationally again I think is another big um process again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of businesses and lowering the variety of tools platforms and checking account they require for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand 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 easy as possible for everyone that's associated with those processes and likewise so envision sorry I'm simply I was simply gon na say envision 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 speaking about numerous thousands possibly Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task attempting to clean up all those up for sure oh definitely 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 try to check out them and actually see what was going on and sort of shot to get back to everyone so moving on appearance why do companies choose to main separate bank accounts there are businesses out there doing precisely this for specific nations and I've operated in an organization or numerous services doing exactly that I can state it doesn't always feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for anyone where we don't have 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 amount that we are I believe lots of factors one is it's the standard I believe individuals have got so used to we require a new savings account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I think this is a process that needs looking at it needs changing however eventually people are extremely stuck to what they recognize
with right um modification is a tough thing all of us do not like modification um so I think it's just sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having preserving several savings account however there's a substantial quantity of complexity goes with establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the complexity is substantial but I believe the truthful response is modification um individuals haven't had the ability to change or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to change however we have actually always done it that way is no real excuse for not looking at the the benefits 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 monitor and this approach does pose a number of obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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