Find out more about Papaya Global Guinea-bissau ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to managing payments. This provides us with a safe and secure and trustworthy technique of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app enhances my payroll procedure, conserving me a considerable amount of time every month. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Worker Portal offers workers with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to international workers regardless of the variety of staff members in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source local benefits providers in every country, create local accounts and have a minimum number of staff members.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, overall employment costs dispersed per location, total work costs per cycle and a lot more.
environments around the world I offered management and technique 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 the business managing and building external relationships supporting Business clients and solutions along with functioning as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past 7 years. The complexities and challenges of this field have always mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've kind of had a variety of various functions on the provider side and likewise on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everybody another number of uh well one of 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 quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very very bleak and I wish I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly useful for worldwide organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time throughout this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business accurately forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in enough in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of factors most significantly policies compliance data security and banking guidelines then there are the sheer numbers they add additional complexity the worldwide Labor force is presently three and a half billion individuals 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 factor in that there are some 230 million services and growing all doing their own thing worldwide in the standard payroll design there's typically an overwhelming number of various systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or really extremely fundamental there's no genuine consistency structure we're residing in a period of tech but payroll has actually 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 just 11 of services 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 international payroll the less of an image they see a lack of exposure also extends to payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide services have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors badly interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the data is shipped to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they count on the essential numerous 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 difficulties organization face when they're making payments to workers or otherwise that's a great question I always toss this back and say what is it what doesn't require to be consisted of ideal 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 nation there's payment timespan there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity anywhere you look best ultimately building a knowledge base is definitely important but all over you look with payroll payment they resemble extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is enabling us to sort of move on with that it also too to add to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely important that payroll and financing teams work better together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately 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 likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on well-being and the payment landscape is becoming significantly complex. Companies are constantly introducing new advantages and payment options, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this does not need to be the case. In today's technologically innovative age, there's no justification for preserving cumbersome procedures. Payroll, the company's most significant expense, should be processed properly and on time. Even slight hold-ups can adversely affect workers' wellness and have far-reaching consequences. Therefore, it's important to focus on accurate and timely payments.
payroll team get um so I'm uncertain anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but eventually payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it goes wrong 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 also like why WI-Fi Global why all of this things is absolutely vital that all of this things is done properly so leveraging the very first Global Payments first payroll payment option is a fantastic first step um supplying an end-to-end payroll service for your workers worldwide again I think is another substantial um procedure once again aligning and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of organizations and lowering the variety 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 have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand how how crucial 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 simple as possible for everyone that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na state envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely 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 in fact see what was going on and sort of shot to return to everyone so carrying on look why do companies select to primary different bank accounts there are services out there doing precisely this for particular nations and I've operated in a service or lots of businesses doing precisely that I can say it does not constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anybody where we don't have to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I think people have got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and many other methods 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 changing but eventually people are extremely stuck with what they're familiar
with best um modification is a tough thing all of us do not like change um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having maintaining several bank accounts however there's a substantial quantity of intricacy opts for establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the right user accesses for specific people so the intricacy is huge but I think the honest answer is change um people have not had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I believe it is knowledge 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 taking a look at the the benefits and the possibilities of moving on and moving into you know what could practically be determined to be the next Century approximately there is a lot to keep an eye on and this technique does posture numerous challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this boosted ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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