Find out more about Papaya Global Gambia ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and trustworthy method of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Employee Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to global employees regardless of the number of staff members in the business. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source local advantages service providers in every country, create regional accounts and have a minimum variety of employees.
The HR capabilities offered by International HR encompass numerous functions such as keeping an eye on trip time, ensuring compliance, facilitating the process of welcoming brand-new employees and bidding goodbye to leaving ones, using a safe online platform for keeping workers' files, and providing assistance for work permit procedures in case your employees require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall work costs distributed per location, total work expenses per cycle and far more.
environments around the world I supplied management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work across business managing and building external relationships supporting Enterprise customers and options in addition to functioning as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a pleasure to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually kind of had a range of various functions on the company side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everybody 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 sort of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone originates from and I actually 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 very dreary and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll also discuss a recap and that needs to leave his time at the really really 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 increasingly more typical and managing them becomes more and more complicated International companies are wanting to find Solutions and brand-new methods to enhance procedures specifically from a payroll and cross-border payment viewpoint many companies keep separate bank account just for payroll while some have multiple accounts in different countries does it make good sense for companies to maintain different bank accounts sometimes in various countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational business simplify the episode complex procedures of
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be hard 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 policies compliance data security and banking rules then there are the large numbers they include additional intricacy the global Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing all over the world in the traditional payroll model there's often a frustrating variety of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or extremely really basic there's no genuine consistency framework we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of an image they see a lack of visibility also extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide services have actually 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 poor HCM information data entry mistakes improperly interacted hires and terminations as well as lack management and system configurations and then when you round everything off and the information is shipped to the wrong location the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the required several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're paying to staff members or otherwise that's an excellent question I always throw this back and state what is it what doesn't require to be included ideal and what does
it need to be considered there's differing Bank details 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 have to pay from the consumer's own in-country account so there's intricacy wherever you look ideal eventually building a knowledge base is definitely important however all over you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is enabling us to kind of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody 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 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 procedure it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the compensation landscape is ending up being significantly complex. Businesses are continuously presenting brand-new benefits and payment options, which adds to the overall complexity. Large corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my opinion, this doesn't have to hold true. In today's technically advanced period, there's no reason for maintaining troublesome treatments. Payroll, the company's biggest expense, need to be processed correctly and on time. Even minor delays can adversely impact workers' well-being and have significant repercussions. Therefore, it's critical to focus on precise and timely payments.
The payroll team might not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just discover when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally too. Therefore, it is necessary to ensure that jobs like Wi-Fi International and other important matters are done correctly. Using the first International Payments first payroll payment solution is a terrific preliminary action towards providing an extensive payroll option for staff members worldwide. Standardization, global processes, and lowering the number of tools, platforms, and savings account necessary for global payroll are essential consider achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things don't go as planned. Ultimately, we do not do it for the thankfulness.
anyway we know how how important a role 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 associated with those procedures and also so imagine sorry I'm just I was simply gon na state picture 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 talking about numerous thousands potentially Millions think of getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and in fact see what was going on and type of shot to get back to everybody so moving on look why do business choose to main separate savings account there are organizations out there doing exactly this for specific countries and I have actually worked in a service or lots of companies doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not developing additional work for anybody 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 think many reasons one is it's the requirement I think individuals have got so utilized to we need a brand-new bank account we open an entity and rightly so you require 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 requirement and the standard the people have adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I believe this is a process that requires taking a look at it needs altering however ultimately individuals are very stuck with what they're familiar
with best um change is a difficult thing all of us do not like change um so I believe it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having preserving multiple savings account however there's a big quantity of complexity goes with setting up a checking account keeping it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is substantial but I think the truthful answer is change um people have not had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an element of resistance to change but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to keep an eye on and this method does present a number of obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your accomplishments.
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