Find out more about Papaya Global Honduras ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and trustworthy method of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits plans to worldwide employees despite the variety of staff members in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source local benefits suppliers in every nation, create regional accounts and have a minimum variety of employees.
The HR capabilities offered by International HR incorporate various functions such as keeping an eye on trip time, making sure compliance, helping with the process of inviting new employees and bidding goodbye to departing ones, offering a protected online platform for keeping workers' files, and providing assistance for work permit procedures in case your workers need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total employment expenses distributed per place, total employment expenses per cycle and far more.
environments across the globe I supplied management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business handling and building external relationships supporting Enterprise clients and solutions in addition to functioning as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We focus on providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have always mesmerized me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've type of had a range of various functions on the company side and also on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to type 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 sunshine is it it's not no it's it's raining here it's extremely extremely uninspiring and I want 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 taking a look at the challenge years of handling Global payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially helpful for international organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate savings account for payroll in different countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will also provide a wrap-up of the main points 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 worldwide pros and cons of a payroll wallet versus a payroll savings account how companies properly forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in sufficient in one nation but when you're doing it internationally it's next level and Beyond it becomes complex for a variety of factors most significantly regulations compliance information security and banking rules then there are the large numbers they add more complexity the international Labor force is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 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 around the globe in the conventional payroll design there's frequently an overwhelming number of various systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in big quantities and or extremely extremely standard there's no genuine consistency structure we're living in an age of tech however payroll has 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 think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services 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 worldwide payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of international companies 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 data data entry errors improperly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is delivered to the incorrect location the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they depend on the necessary 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 service face when they're making payments to workers or otherwise that's a great question I constantly throw this back and state what is it what doesn't need to be included best and what does
it need to be considered 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 capabilities 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 customer's own in-country account so there's complexity any place you look right ultimately constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and innovation is allowing us to sort of progress with that it also as well to add to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm constantly impressed when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate 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 frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of data 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
The contemporary world puts a high value on well-being and the payment landscape is becoming progressively complex. Organizations are continually presenting brand-new advantages and payment choices, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's technically advanced era, there's no justification for maintaining cumbersome procedures. Payroll, the business's most significant expenditure, must be processed correctly and on time. Even slight delays can negatively affect workers' wellness and have significant repercussions. For that reason, it's crucial to prioritize precise and timely payments.
payroll team get um so I'm not sure anybody on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the very first International Payments very first payroll payment option is a fantastic first step um supplying an end-to-end payroll service for your workers globally again I think is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely key to success success of organizations and lowering the number of tools platforms and savings account they require for their Global 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've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're suggested to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how important 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 simple as possible for everyone that's associated with those procedures and likewise so think of sorry I'm just I was just gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and sort of try to return to everyone so moving on look why do companies select to primary different bank accounts there are businesses out there doing precisely this for particular nations and I've worked in a business or many companies doing exactly that I can state it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating additional work for anybody where we do not need to and any person that's managing 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 factors one is it's the standard I believe individuals have got so utilized to we need a new bank account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I believe this is a procedure that requires looking at it needs altering however eventually individuals are extremely stuck to what they recognize
with best um change is a hard thing all of us don't like change um so I believe it's just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having maintaining several savings account but there's a huge quantity of complexity opts for setting up a checking account maintaining it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for specific individuals so the intricacy is huge but I believe the sincere answer is modification um individuals have not been able to change or have not had always the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be determined to be the next Century or two there is a lot to keep an eye on and this method does present numerous obstacles um so Johnny could you inform us about those obstacles yeah of course so there's a variety 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 employees you should have a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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