Papaya Global Liberia

Find out more about Papaya Global Liberia ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly committed to handling payments. This supplies us with a safe and trustworthy approach of making payments to our 10,000 workers worldwide.}

The advanced global payroll management app streamlines my payroll procedure, saving me a significant amount of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.

Worker Portal
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.

Advantages Administration
Papaya Global assists companies use competitive advantages plans to international staff members regardless of the variety of staff members in the company. The company can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local advantages service providers in every nation, create local accounts and have a minimum variety of workers.

International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work permit help.

HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment expenses distributed per area, overall employment costs per cycle and a lot more.

environments around the world I provided leadership and technique 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 throughout business handling and structure external relationships supporting Business customers and solutions in addition to serving as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments

company to make the time 100 list for most influential business worldwide we offer payroll payments and workforce management to all worker key ins over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good night depending upon where you remain in the world it's beautiful to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of

payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of various roles on the company side and also on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everybody another number of uh well one of 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 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 comes from and I actually 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 dreary and I wish I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business keep different

savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic property uh we'll also review a recap and that ought to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become a growing number of typical and managing them ends up being a growing number of intricate International companies are wanting to find Solutions and new methods to streamline processes especially from a payroll and cross-border payment perspective lots of organizations preserve different checking account just for payroll while some have numerous accounts in different nations does it make good sense for companies to keep separate savings account often in different nations it does but just for payroll exists a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational business streamline the episode complex processes of

making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business properly forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in adequate in one nation but when you're doing it globally it's next level and Beyond it ends up being complicated for a range of factors most notably regulations compliance information security and banking rules then there are the large numbers they include further intricacy the global Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll model there's typically an overwhelming variety of various systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big amounts and or extremely extremely standard there's no real consistency framework we're living in an era 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 simply blows my mind every time I I believe

about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more an organization invests in global payroll the less of an image they see an absence of exposure also reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide organizations have actually revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes poorly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the data is delivered to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend on the required numerous processes 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 challenges business face when they're making payments to employees or otherwise that's a great question I constantly throw this back and state what is it what does not need to be included right and what does

it require 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 time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look right eventually building a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type 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 absolutely fundamental and innovation is allowing us to type of move on with that it also also to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely crucial that payroll and financing groups work better together than ever um I'm constantly surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide 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 information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the

world we live in and wellness being increasingly more essential to contribute to sort of the level of intricacy there's more and more advantages being organ or being provided by services across the world so again you're just seeking to add increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real challenges or real tough type of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would definitely state that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to create extra handoffs at the same times that we run in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an era of tech and an age that you understand that we are working in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any company has from a cost perspective from an impact point of view on staff members it is absolutely important that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging effect on people's wellness and lots of other factors if people aren't paid uh I have actually constantly been astonished entering this Market sort of the last five to ten years is how little thanks the

payroll group get um so I'm uncertain anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle we all find out about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done properly so leveraging the very first International Payments first payroll payment option is an excellent primary step um supplying an end-to-end payroll option for your workers internationally once again I think is another big um process once again aligning and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of companies and minimizing 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've never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I don't think any of us are actually doing that for for the thanks

anyhow we understand how how important 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 processes and likewise so imagine sorry I'm simply I was just gon na say imagine 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 discussing numerous thousands possibly Millions picture getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and in fact see what was going on and type of shot to return to everyone so proceeding appearance why do companies pick to main different savings account there are companies out there doing precisely this for particular countries and I have actually operated in a service or lots of organizations doing exactly that I can state it doesn't always feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anyone where we do not need to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think 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 believe individuals have actually got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a range I believe this is a procedure that requires looking at it needs changing however eventually people are very stuck with what they're familiar

with right um modification is a difficult thing all of us don't like modification um so I think it's simply 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 clearly the advantages of having maintaining several savings account but there's a big quantity of intricacy opts for setting up a checking account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for specific people so the intricacy is huge however I believe the honest answer is modification um individuals haven't had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might practically be figured out to be the next Century or so there is a lot to track and this approach does posture numerous obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you

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