Find out more about Papaya Global Libya ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to managing payments. This offers us with a protected and dependable technique of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app improves my payroll process, conserving me a substantial quantity of time each month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
The Staff member Website supplies workers with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits plans to international workers despite the number of workers in the company. The business can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional advantages suppliers in every country, produce regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total employment costs dispersed per area, overall employment costs per cycle and far more.
environments around the world I provided management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business handling and structure external relationships supporting Enterprise customers and solutions in addition to serving as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
As an international company, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We specialize in offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a satisfaction to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment services for the past 7 years. The complexities and obstacles of this field have actually always captivated me.
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 different roles on the provider side and likewise on the vendor side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly 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 extremely gloomy and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business keep different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and prompt payroll payments is a complex difficulty for services operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll expenses to enhance working capital, and discover how simplifying global payroll payments can transform them from a challenging task into a tactical possession.
Handling payroll internationally is a challenging task due to different guidelines, compliance requirements, information security issues, and banking rules. The large number of staff members and organizations adds to the complexity, with an estimated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems typically lead to manual procedures, information silos, and an absence of combination, leading to disparities and inefficiencies. In spite of residing in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to provide insights and services to streamline and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a service invests in international payroll the less of an image they see an absence of presence likewise encompasses payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of global organizations have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes badly interacted hires and terminations as well as absence management and system configurations and then when you round all of it off and the data is delivered to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they count on the needed several processes 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 challenges company face when they're paying to employees or otherwise that's a good concern I constantly throw this back and say what is it what does not require to be consisted of ideal 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 amount of time there's payment capabilities 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 customer's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is definitely important however everywhere you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is permitting us to sort of move forward with that it likewise also to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely necessary that payroll and financing groups work better together than ever um I'm always amazed when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from calculation 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 procedure it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more important to contribute to sort of the level of intricacy there's more and more advantages being organ or being offered by services across the world so once again you're just seeking to add more and more payments to this already intricate landscape so if you kind 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 challenges or real difficult kind of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of decades I would absolutely state that the larger a company 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 groups feeding information into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you understand that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any company has from an expense viewpoint from an impact point of view on staff members it is absolutely vital that it's done properly and on time so what we suggest 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 harmful impact on people's well-being and lots of other elements if individuals aren't paid uh I have actually always been astonished entering into this Market sort of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only discover when things go wrong. However, when things go right, it's seen as just a routine job. This is how it's perceived externally as well. For that reason, it is essential to guarantee that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Using the first Worldwide Payments first payroll payment solution is a terrific initial action towards providing a comprehensive payroll option for employees worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and savings account required for global payroll are essential consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyway we know how how important 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 easy as possible for everyone that's associated with those procedures and also so envision sorry I'm simply I was just gon na say envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job trying to clean up all those up for sure oh absolutely 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 try to look through them and really see what was going on and kind of shot to get back to everybody so carrying on appearance why do business pick to primary separate savings account there are companies out there doing exactly this for particular nations and I've operated in an organization or numerous companies doing exactly that I can say it doesn't always feel effective and it does create more work I understand we're not deliberately doing that we're not developing additional work for anybody where we don't need to and anyone that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think many factors one is it's the requirement I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I believe this is a process that needs looking at it requires changing however ultimately individuals are really stuck with what they're familiar
with right um change is a challenging 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 great deal of track of stuff um I comprehend undoubtedly the advantages of having preserving multiple checking account however there's a substantial quantity of complexity chooses establishing a checking account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private people so the complexity is huge but I think the sincere response is change um individuals haven't had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've constantly done it that way is no genuine excuse for not looking 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 approximately there is a lot to keep an eye on and this approach does present several difficulties um so Johnny might you inform us about those difficulties yeah obviously so there's a range 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you deserve a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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