Find out more about Papaya Global Ethiopia ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a protected and trusted method of paying to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a significant amount of time each month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Staff member Website provides workers with the ability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Advantages Administration
Papaya Global helps companies provide competitive advantages plans to international employees despite the variety of employees in the company. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the need to source local benefits suppliers in every nation, develop local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total work costs distributed per location, overall work expenses per cycle and far more.
Worldwide, I have actually shown management and strategic know-how in guiding massive populations of over 100,000 staff members across 170 nations. Presently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My function includes handling and developing external collaborations, supporting Enterprise 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 a lot of prominent business on the planet we offer payroll payments and workforce management to all staff member enters over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending on where you are in the world it's beautiful to fulfill 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 remained in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've kind of had a variety of various functions on the company side and likewise on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everyone okay 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 fascinating and I can see it going on currently just 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 sunlight is it it's not no it's it's drizzling here it's very really gloomy and I wish I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical asset uh we'll likewise discuss a wrap-up and that ought to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being a growing number of common and managing them becomes more and more complicated Worldwide organizations are looking to discover Solutions and new ways to improve procedures especially from a payroll and cross-border payment viewpoint lots of organizations preserve separate bank account just for payroll while some have numerous accounts in different countries does it make good sense for companies to preserve separate checking account sometimes in different nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business improve the episode complex procedures of
Making sure accurate, effective, and prompt payroll payments is a complex difficulty for businesses running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how companies forecast payroll expenses to optimize working capital, and find how improving global payroll payments can transform them from a challenging task into a strategic property.
Handling payroll worldwide is an overwhelming task due to numerous policies, compliance requirements, data security issues, and banking guidelines. The large variety of staff members and organizations contributes to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual processes, information silos, and an absence of integration, causing disparities and inadequacies. In spite of residing in an age of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to supply insights and solutions to simplify and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more an organization invests in global payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of international organizations have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors inadequately communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is delivered to the incorrect location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they depend on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's an excellent question I always toss this back and say what is it what does not need to be consisted of ideal and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 consumer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is absolutely critical but everywhere you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in 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 kind of move forward with that it also too to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely vital that payroll and financing groups work more detailed together than ever um I'm constantly amazed when individuals state 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 occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of crucial to add to sort of the level of complexity there's a growing number of advantages being organ or being offered by companies across the world so again you're just looking to add a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine obstacles or real challenging type of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding info into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we need to produce additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you stated payroll is the single most significant liability that any company has from an expense point of view from an impact perspective on workers it is definitely 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 wellness and numerous other elements if individuals aren't paid uh I have actually constantly been impressed entering into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm unsure anyone on this type 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 workers or not um however eventually payroll is such an essential cycle we all become aware of it when it fails everybody 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the very first International Payments first payroll payment solution is a terrific initial step um providing an end-to-end payroll option for your employees globally again I think is another substantial um procedure once again lining up and guaranteeing you have standardization International procedures all of those things are definitely key to success success of services and minimizing the number of tools platforms and savings account they require for their Global 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 don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I don't believe any of us are in fact doing that for for the thanks
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 everybody that's involved in those processes and likewise so imagine sorry I'm simply I was simply gon na say envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and kind of shot to return to everyone so proceeding appearance why do companies select to primary different checking account there are businesses out there doing exactly this for particular countries and I've worked in a business or lots of businesses doing exactly that I can say it does not always feel effective and it does produce more work I understand we're not deliberately doing that we're not developing additional work for any person where we do not have to and anybody that's dealing with 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 many factors one is it's the requirement I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I think this is a procedure that needs taking a look at it needs altering however eventually individuals are very stuck to what they're familiar
with best um change is a difficult thing we all don't like modification um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having keeping numerous savings account but there's a big quantity of intricacy goes with setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the complexity is big but I believe the sincere response is modification um people haven't been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century approximately there is a lot to monitor and this method does pose several difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you deserve a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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