Find out more about Papaya Global Gabon ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and dependable technique of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Staff member Website
Employees have access to a Worker Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits packages to international employees regardless of the number of employees in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional benefits service providers in every nation, produce regional accounts and have a minimum variety of workers.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall work expenses dispersed per area, total employment expenses per cycle and a lot more.
Internationally, I have actually demonstrated management and tactical know-how in guiding large-scale populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for overseeing payroll methods, as pointed out by Mark. My function includes handling and establishing external partnerships, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
business to make the time 100 list for the majority of influential companies worldwide we supply payroll payments and labor force management to all staff member enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon great night depending on where you remain in the world it's beautiful to fulfill 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've been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I've sort of had a variety of different functions on the service provider side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or so 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 fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I really 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 really bleak and I wish I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies maintain separate
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate checking account for payroll in various nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business properly forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in enough in one country but when you're doing it internationally it's next level and Beyond it ends up being complex for a range of reasons most notably guidelines compliance information security and banking guidelines then there are the sheer numbers they add further intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's approximated 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 factor in that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll model there's typically a frustrating number of different systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or very extremely standard there's no real consistency structure we're living in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind whenever I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that offers me sleep deprived nights and rather honestly the more a business spends on global payroll the less of a photo they see a lack of visibility also encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide organizations have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors inadequately interacted hires and terminations along with lack management and system setups and after that when you round all of it off and the information is shipped to the incorrect location the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they count on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're making payments to employees or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be included ideal and what does
it require to be thought of there's differing 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 abilities 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 complexity anywhere you look right eventually building a knowledge base is definitely important but everywhere you look with payroll payment they are like incredibly payments no if however some babies 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 recognition that payroll payments are definitely basic and technology is enabling us to kind of progress with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely important that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately 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 but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on well-being and the compensation landscape is ending up being increasingly detailed. Businesses are constantly introducing new benefits and payment choices, which contributes to the overall complexity. Large corporations typically divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this does not have to hold true. In today's technically sophisticated era, there's no reason for preserving cumbersome treatments. Payroll, the business's most significant expenditure, should be processed correctly and on time. Even minor hold-ups can adversely impact workers' wellness and have far-reaching repercussions. For that reason, it's crucial to prioritize precise and prompt payments.
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only see when things fail. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally as well. Therefore, it is essential to ensure that jobs like Wi-Fi International and other crucial matters are done properly. Using the first International Payments first payroll payment option is a fantastic initial step towards providing a comprehensive payroll solution for workers worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and savings account necessary for international payroll are key consider attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyhow we understand how how crucial a role 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 also so think of sorry I'm just I was simply gon na say imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and really see what was going on and sort of shot to return to everyone so moving on look why do companies select to primary separate bank accounts there are companies out there doing precisely this for specific nations and I have actually worked in an organization or numerous organizations doing exactly that I can state it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not producing extra work for anybody where we don't need to and any person that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think lots of reasons one is it's the standard I believe individuals have got so utilized to we require a brand-new checking 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 believe 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 add to that people have taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I believe this is a process that needs taking a look at it requires altering however ultimately people are really stuck with what they recognize
with ideal um modification is a challenging thing we all don't like change um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having maintaining several checking account however there's a big quantity of complexity goes with establishing a savings account maintaining it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is huge but I believe the sincere response is modification um people haven't had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we've constantly 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 practically be identified to be the next Century or two 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 simply did you switched 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 International staff members you are worthy of a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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