Find out more about Papaya Global Mauritania ... 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 acquired a different Chief Financial Officer particularly committed to handling payments. This provides us with a safe and secure and trusted method of paying to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll process, conserving 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.
The Worker Portal provides staff members with the ability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages bundles to international workers despite the variety of staff members in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits service providers in every country, create local accounts and have a minimum number of employees.
The HR abilities provided by International HR encompass numerous functions such as keeping an eye on getaway time, guaranteeing compliance, helping with the procedure of welcoming new employees and bidding farewell to leaving ones, using a protected online platform for keeping employees' files, and supplying support for work allow procedures in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total work costs distributed per location, overall work expenses per cycle and a lot more.
environments around the world I supplied leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business handling and building external relationships supporting Enterprise clients and options as well as functioning as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for the majority of influential business in the world we offer payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon great evening depending upon where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian said 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 particularly dealing with 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 sort of make a real go at that over the last 5 or six years where I've type of had a variety of various roles on the provider side and also on the supplier side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really very dreary and I want I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why companies maintain different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a strategic asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a range of factors most notably regulations compliance information security and banking guidelines then there are the large numbers they add more complexity the international Workforce is currently 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 services and growing all doing their own thing worldwide in the standard payroll model there's often a frustrating number of various systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or really very fundamental there's no genuine consistency framework we're residing in a period of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind whenever I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more a business invests in global payroll the less of an image they see a lack of presence likewise extends to payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of international businesses have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors improperly communicated hires and terminations along with lack management and system setups and then when you round everything off and the data is delivered to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they rely on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're making payments to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't require to be consisted of best 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 country there's payment timespan 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 consumer's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a 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 absolutely basic and innovation is allowing us to kind of move forward with that it likewise too to add to that payroll and finance need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely vital that payroll and financing teams work more detailed together than ever um I'm always astonished when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often 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 anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more important to add to sort of the level of complexity there's a growing number of advantages being organ or being used by organizations throughout the world so once again you're simply aiming to add increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real difficulties or real tough sort of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things but you understand 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 produce additional handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you know that we are working in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you stated payroll is the single most significant liability that any organization has from a cost point of view from an impact perspective on workers it is definitely 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 most significant detrimental impact on people's well-being and numerous other factors if people aren't paid uh I have actually constantly been astonished coming into this Market type of the last five to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just observe when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. For that reason, it is essential to make sure that jobs like Wi-Fi International and other essential matters are done properly. Utilizing the first Worldwide Payments very first payroll payment solution is a terrific preliminary step towards offering a thorough payroll service for workers worldwide. Standardization, global processes, and lowering the number of tools, platforms, and savings account needed for global payroll are key factors in achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we know how how essential 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 involved in those processes and also so think of sorry I'm just 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'm sure we're speaking about hundreds of thousands potentially Millions think of getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task 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 need days of the week to attempt to look through them and actually see what was going on and sort of try to return to everybody so proceeding look why do business select to main separate savings account there are businesses out there doing precisely this for specific nations and I've worked in an organization or many companies doing exactly that I can say it doesn't always feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for any person where we do not have to and anybody that's dealing with 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 amount that we are I believe numerous factors one is it's the requirement I think individuals have actually got so utilized to we require a new bank account we open an entity and appropriately 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 simply been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I think this is a process that needs taking a look at it needs altering but eventually individuals are very stuck to what they're familiar
with best um change is a tough thing all of us don't like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having maintaining multiple checking account however there's a substantial amount of intricacy goes with setting up a bank account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for individual individuals so the complexity is huge but I think the truthful answer is modification um people haven't been able to alter or have not had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I believe it is understanding you know and there is a component of resistance to change however we have actually constantly 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 understand what could practically be figured out to be the next Century or so there is a lot to track and this technique does position a number of challenges um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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