Find out more about Papaya Global Lesotho ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and secure and trusted approach of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app streamlines my payroll process, saving me a substantial quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Staff member Website offers employees with the ability to access and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists business provide competitive advantages packages to worldwide workers despite the number of employees in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source regional benefits providers in every country, develop local accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall work expenses dispersed per location, overall work costs per cycle and a lot more.
Internationally, I have demonstrated management and tactical expertise in directing massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for overseeing payroll strategies, as mentioned by Mark. My function involves handling and establishing external partnerships, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually kind of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely bleak and I wish I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical possession uh we'll likewise go over a recap which must leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become more and more typical and handling them becomes a growing number of complicated International organizations are wanting to find Solutions and brand-new methods to improve procedures particularly from a payroll and cross-border payment viewpoint lots of companies maintain separate savings account just for payroll while some have several accounts in different nations does it make good sense for business to preserve separate checking account often in different countries it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international business enhance the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for organizations operating globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, find out how business forecast payroll costs to optimize working capital, and discover how streamlining international payroll payments can change them from a troublesome task into a strategic possession.
Handling payroll internationally is a complicated task due to various guidelines, compliance requirements, information security issues, and banking guidelines. The sheer number of employees and businesses contributes to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and an absence of combination, causing inconsistencies and inadequacies. In spite of residing in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to offer insights and options to streamline and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that offers me sleepless nights and rather honestly the more a service spends on worldwide payroll the less of a picture they see a lack of exposure likewise reaches payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of international companies have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors improperly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the data is shipped to the incorrect location the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly 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 obstacles organization face when they're paying to workers or otherwise that's a good concern I constantly throw this back and state what is it what does not need to be included best and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 anywhere you look right eventually developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to kind of progress with that it likewise also to add to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance groups work better together than ever um I'm always surprised when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession 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 eventually 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 third parties so with the
world we reside in and well-being being a growing number of important to add to type of the level of intricacy there's increasingly more advantages being organ or being provided by services throughout the world so once again you're simply aiming to include more and more payments to this already intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine challenges or real challenging kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding info into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we operate in they just make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any company has from an expense perspective from an effect viewpoint on workers it is definitely important that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful effect on people's wellness and lots of other aspects if individuals aren't paid uh I've always been surprised entering this Market kind of the last 5 to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally as well. Therefore, it is vital to ensure that jobs like Wi-Fi International and other vital matters are done properly. Utilizing the first Global Payments very first payroll payment option is a fantastic initial action towards providing a comprehensive payroll service for workers worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and bank accounts essential for worldwide payroll are key factors in attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things do not go as prepared. Ultimately, we do not do it for the appreciation.
anyway we understand how how essential 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 everybody that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions envision getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and sort of shot to return to everyone so proceeding appearance why do companies pick to primary separate savings account there are companies out there doing precisely this for specific countries and I've worked in a company or numerous companies doing precisely that I can say it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not developing additional work for any person where we do not have to and anybody that's dealing with 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 quantity that we are I believe many reasons one is it's the requirement I believe people have got so used to we need a brand-new checking 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 believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I believe this is a process that needs looking at it needs changing but eventually people are extremely stuck to what they recognize
with best um change is a challenging thing we all do not like modification um so I believe it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having preserving several checking account however there's a substantial quantity of intricacy goes with establishing a savings account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for private people so the complexity is huge but I believe the sincere answer is modification um people have not been able to alter or have not had always the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we've always done it that way is no real excuse for not looking at the the advantages 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 technique does position a number of difficulties um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I just recently made a change to our Enterprise 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 acquired another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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