Find out more about Papaya Global Kenya ... We now have the capability to manage 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 supplies us with a protected and reputable approach of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
The Employee Portal offers workers with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global helps business use competitive benefits plans to global staff members regardless of the variety of staff members in the company. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, develop local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment costs distributed per location, overall work expenses per cycle and far more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across the business handling and structure external relationships supporting Enterprise customers and services along with serving as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for most influential business worldwide we provide 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 introduce yourself of course thank you good morning good afternoon great evening depending on where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the complexity 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 type of had a variety of various functions on the company side and also on the vendor side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or two to join we all 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 already simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly 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 extremely gloomy and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya International payroll payments as a tactical property uh we'll also discuss a wrap-up and that ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of typical and handling them becomes a growing number of complicated Worldwide organizations are wanting to discover Solutions and new ways to improve procedures especially from a payroll and cross-border payment standpoint many organizations preserve different checking account just for payroll while some have multiple accounts in various countries does it make sense for companies to keep separate savings account often in different nations it does but just for payroll is there a better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business improve the episode complex processes of
making payroll payments precisely effectively securely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in enough in one country but when you're doing it globally it's next level and Beyond it becomes complex for a variety of reasons most importantly guidelines compliance data security and banking rules then there are the sheer numbers they add further intricacy the international Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll model there's frequently an overwhelming variety of various systems resulting in lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or very extremely standard there's no genuine consistency structure we're residing in an age of tech but payroll has been sluggish 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 offer you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a service invests in international payroll the less of a photo they see an absence of presence also encompasses payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal almost half of international businesses have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes badly communicated hires and terminations in addition to lack 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 an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they rely on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to staff members or otherwise that's an excellent question I always toss this back and say what is it what does not need to be consisted of ideal and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 any place you look ideal ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is enabling us to sort of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is definitely vital that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work 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 frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the compensation landscape is ending up being increasingly complex. Services are continuously introducing new advantages and payment choices, which adds to the total complexity. Big corporations often divide their payroll and payment processing into different teams, which can cause inadequacies and bottlenecks. In my opinion, this doesn't need to be the case. In today's technically sophisticated period, there's no validation for keeping troublesome treatments. Payroll, the business's greatest cost, must be processed properly and on time. Even slight hold-ups can adversely impact staff members' well-being and have far-reaching effects. Therefore, it's important to focus on accurate and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only notice when things fail. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's viewed externally also. Therefore, it is necessary to ensure that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the first International Payments very first payroll payment service is an excellent initial step towards supplying a comprehensive payroll solution for staff members worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and checking account required for worldwide payroll are crucial factors in attaining service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things don't go as planned. Eventually, we do not do it for the thankfulness.
anyhow we understand how how important a function 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 easy as possible for everyone that's associated with those procedures and likewise so think of sorry I'm just I was simply gon na state picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating job attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and really see what was going on and sort of shot to get back to everyone so moving on appearance why do companies select to primary different bank accounts there are organizations out there doing precisely this for particular countries and I've operated in a service or lots of businesses doing exactly that I can say it does not always feel effective and it does create more work I know we're not deliberately doing that we're not producing extra work for anyone where we don't need to and any person that's managing 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 think many factors one is it's the standard I believe individuals have got so used 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 believe it's simply been the standard and the standard individuals have embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it requires changing however eventually people are very stuck to what they're familiar
with right um change is a difficult thing all of us don't like modification um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having preserving several bank accounts however there's a huge quantity of intricacy chooses establishing a checking account keeping it ensuring it can send out International transfers ensuring it's established with the best user accesses for individual people so the complexity is big but I believe the truthful response is change um individuals haven't had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century or two there is a lot to track and this method does posture a number of obstacles um so Johnny could you tell us about those challenges yeah obviously so there's a range right there is so
I just did you changed our Enterprise 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 Worldwide workers 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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