Find out more about Papaya Global Ghana ... We now have the ability to handle 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 particularly devoted to managing payments. This supplies us with a safe and reliable technique of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app improves my payroll process, saving me a significant amount of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Worker Website offers workers with the ability to access and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global helps business provide competitive benefits plans to worldwide staff members no matter the number of workers in the company. The company can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source local advantages companies in every nation, create regional accounts and have a minimum number of employees.
The HR abilities offered by Global HR incorporate different functions such as keeping an eye on trip time, guaranteeing compliance, assisting in the procedure of inviting new staff members and bidding farewell to leaving ones, using a safe and secure online platform for keeping workers' files, and offering support for work allow procedures in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work expenses distributed per area, overall work costs per cycle and far more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and services as well as serving as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many prominent companies on the planet we offer payroll payments and workforce management to all worker types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent evening depending upon where you are in the world it's charming to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've type of had a range of different functions on the company side and likewise on the vendor side from a payroll perspective so really anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone 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 definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very uninspiring and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies keep separate
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and prompt payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll costs to enhance working capital, and find how streamlining international payroll payments can change them from a challenging task into a tactical property.
Managing payroll internationally is a daunting task due to various policies, compliance requirements, data security concerns, and banking rules. The large number of staff members and businesses adds to the intricacy, with an estimated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems typically result in manual procedures, data silos, and an absence of combination, leading to inconsistencies and inefficiencies. Regardless of residing in an age of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to offer insights and solutions to streamline and enhance 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 state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in worldwide payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide services have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors improperly communicated hires and terminations along with absence management and system setups and then when you round it all off and the information is delivered to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they rely on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a great concern I constantly toss this back and state what is it what does not need to be included best and what does
it need to be thought about 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 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 customer's own in-country account so there's complexity any place you look best eventually developing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to type of move forward with that it also too to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely important that payroll and finance groups work more detailed together than ever um I'm always astonished when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate 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 often 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 individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on well-being and the settlement landscape is ending up being significantly intricate. Services are continually presenting brand-new benefits and payment choices, which adds to the general intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can lead to inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's highly advanced period, there's no validation for maintaining cumbersome treatments. Payroll, the company's most significant expense, must be processed correctly and on time. Even slight delays can adversely impact staff members' wellness and have significant repercussions. Therefore, it's important to prioritize accurate and timely payments.
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anyone 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 individuals only see when things go wrong. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's viewed externally too. For that reason, it is vital to make sure that tasks like Wi-Fi Global and other crucial matters are done properly. Utilizing the very first International Payments very first payroll payment option is a terrific initial action towards providing an extensive payroll solution for workers worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and checking account needed for worldwide payroll are essential factors in attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things don't go as prepared. Eventually, we do not do it for the gratitude.
anyway we know how how important 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 envision sorry I'm just I was just gon na say imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and really see what was going on and kind of try to get back to everybody so carrying on appearance why do business select to main separate checking account there are companies out there doing exactly this for particular countries and I've operated in a company or many companies doing exactly that I can say it doesn't always feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing extra work for any person where we do not need to and anybody that's handling that process I 'd be interested to hear your thoughts 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 standard I think people have got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I think this is a procedure that requires taking a look at it requires altering however eventually people are very stuck to what they're familiar
with right um change is a hard thing we all do not like change um so I believe it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having preserving multiple bank accounts however there's a big amount of intricacy opts for establishing a savings account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private individuals so the intricacy is big but I think the honest answer is modification um people haven't been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on 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 method does pose several obstacles um so Johnny could you inform us about those challenges yeah of course 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 manage our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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