Papaya Global Guyana

Find out more about Papaya Global Guyana ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to handling payments. This provides us with a safe and secure and reliable method of paying to our 10,000 employees worldwide.}

The cutting-edge worldwide payroll management app streamlines my payroll process, conserving me a considerable quantity of time each month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.

Staff member Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and work files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.

Benefits Administration
Papaya Global helps business provide competitive advantages bundles to global employees regardless of the number of employees in the company. The business 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 country, create local accounts and have a minimum variety of staff members.

The HR capabilities offered by International HR include numerous functions such as monitoring trip time, guaranteeing compliance, helping with the process of inviting new staff members and bidding farewell to leaving ones, using a secure online platform for keeping employees' files, and offering assistance for work permit procedures in case your employees require help because area.

HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall employment costs dispersed per location, total employment costs per cycle and a lot more.

Worldwide, I have actually demonstrated leadership and tactical competence in guiding massive populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role involves handling and establishing external collaborations, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.

business to make the time 100 list for a lot of influential business on the planet we supply payroll payments and labor force management to all employee 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 of course thank you good morning good afternoon great night depending upon where you are in the world it's charming to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the trouble in all of the above of

payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of various functions on the service provider side and also on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply provide everyone another number of uh well among 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 rather intriguing and I can see it going on currently 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 is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very very uninspiring and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies maintain different

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 International payroll payments as a tactical possession uh we'll also discuss a recap which needs to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more typical and handling them becomes more and more intricate Worldwide companies are wanting to find Solutions and new methods to simplify procedures particularly from a payroll and cross-border payment standpoint numerous companies maintain different bank account just for payroll while some have multiple accounts in various nations does it make good sense for companies to keep different savings account sometimes in various nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business improve the episode complex procedures of

Making sure accurate, effective, and prompt payroll payments is a complex obstacle for organizations operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how business forecast payroll costs to optimize working capital, and find how improving international payroll payments can transform them from a challenging job into a strategic property.

Handling payroll worldwide is an overwhelming task due to different policies, compliance requirements, information security issues, and banking guidelines. The large variety of workers and businesses adds to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.

Standard payroll systems typically result in manual procedures, data silos, and an absence of combination, causing disparities and ineffectiveness. Despite residing in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to provide insights and services to streamline and optimize international payroll payments.

about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization invests in international payroll the less of a photo they see an absence of exposure also encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide companies have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors improperly interacted hires and terminations along with absence management and system configurations and after that when you round all of it off and the information is delivered to the wrong location the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties service face when they're paying to staff members or otherwise that's a great question I always toss this back and say what is it what does not need to be included ideal and what does

it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble incredibly payments no if but some infants 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 believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to sort of progress with that it also also to add to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely necessary that payroll and financing teams work more detailed together than ever um I'm constantly surprised when people state I've divided 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 estimation I would say no so why do we as a market 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 any place they are but also paying statutory authorities and on statutory 3rd parties so with the

world we live in and wellness being increasingly more essential to contribute to type of the level of complexity there's a growing number of benefits being organ or being offered by organizations across the world so once again you're just wanting to include a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real difficulties or real difficult sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a couple of years I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an era that you know that we are operating in today there is no reason why we are still making this as difficult as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any company has from an expense perspective from an effect point of view on employees it is definitely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental result on people's wellness and numerous other aspects if individuals aren't paid uh I have actually always been surprised entering into this Market sort of the last 5 to ten years is how little thanks the

payroll group get um so I'm unsure anybody on this kind of webinar has been told 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 however eventually payroll is such an important cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment service is a great first step um offering an end-to-end payroll solution for your staff members worldwide once again I believe is another huge um procedure again lining up and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of services and lowering the variety of tools platforms and checking account they need for their Worldwide payroll too could not 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 do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I do not think any of us are in fact doing that for for the thanks

anyhow we know how how crucial 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 simple as possible for everyone that's associated with those procedures and likewise so envision sorry I'm simply I was simply gon na state envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I imply 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 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 look through them and actually see what was going on and sort of try to get back to everybody so proceeding appearance why do companies pick to main separate bank accounts there are organizations out there doing exactly this for particular countries and I've worked in an organization or many businesses doing precisely that I can state it does not constantly feel effective and it does develop more work I understand we're not purposely doing that we're not creating extra work for anyone where we don't have to and any person that's dealing with 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 quantity that we are I think numerous reasons one is it's the requirement I think people have actually got so utilized to we require a new bank account we open an entity and rightly so you require 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 the people have adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a range I believe this is a process that requires looking at it requires changing however ultimately people are extremely stuck to what they're familiar

with best um modification is a tough thing we all do not like modification um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving numerous savings account however there's a huge quantity of intricacy chooses setting up a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the complexity is big however I think the honest answer is modification um individuals haven't had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a bank 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 change 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 carrying on and moving into you understand what might practically be identified to be the next Century or two there is a lot to monitor and this approach does posture several difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so

I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.

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