Find out more about Papaya Global Mozambique ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a protected and dependable approach of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app streamlines my payroll procedure, conserving me a considerable amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Worker Website
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to international employees regardless of the number of workers in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source regional benefits service providers in every country, develop regional accounts and have a minimum number of employees.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, total employment expenses dispersed per area, total work costs per cycle and a lot more.
Internationally, I have actually demonstrated leadership and tactical competence in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role involves handling and developing external partnerships, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As an international company, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a range of various roles on the supplier side and also on the vendor side from a payroll viewpoint so truly eagerly 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 one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today certainly 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 somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies preserve separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how companies properly anticipate 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 difficult in enough in one country but when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most significantly regulations compliance information security and banking rules then there are the sheer numbers they add more intricacy the worldwide Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the conventional payroll model there's frequently an overwhelming variety of various systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or very extremely standard there's no real consistency framework we're living in an era of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that offers me sleepless nights and quite honestly the more a service spends on worldwide payroll the less of a picture they see an absence of exposure also reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide businesses have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors improperly communicated hires and terminations along with lack management and system configurations and then when you round all of it off and the information is delivered to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide 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 point of view and in your experience what else requires to be factored into the obstacles business face when they're making payments to workers or otherwise that's an excellent question I always throw this back and say what is it what doesn't need to be included right 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 time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is definitely critical but everywhere you look with payroll payment they resemble super payments no if however some babies 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 acknowledgment that payroll payments are definitely fundamental and technology is allowing us to kind of move on with that it also also to contribute to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely vital that payroll and finance teams work closer together than ever um I'm always amazed when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the compensation landscape is becoming progressively detailed. Organizations are constantly presenting brand-new advantages and payment options, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can cause inefficiencies and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's highly advanced era, there's no justification for keeping cumbersome procedures. Payroll, the business's biggest expense, should be processed properly and on time. Even minor delays can adversely affect employees' wellness and have far-reaching consequences. For that reason, it's crucial to focus on precise and timely payments.
payroll group get um so I'm not sure anybody on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the very first International Payments first payroll payment service is an excellent initial step um providing an end-to-end payroll service for your workers internationally again I believe is another huge um procedure again lining up and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of organizations and reducing the number of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I don't believe any of us are actually doing that for for the thanks
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 processes and likewise so think of sorry I'm just I was just gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating job attempting to clean 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 try to browse them and actually see what was going on and sort of try to return to everyone so carrying on look why do companies select to primary different checking account there are businesses out there doing exactly this for particular countries and I have actually worked in a business or numerous businesses doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anyone where we don't have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think numerous factors one is it's the requirement I think people have actually got so utilized to we require a brand-new bank account we open an entity and appropriately 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 just been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I think there's a variety I think this is a process that needs looking at it requires altering however ultimately people are very stuck to what they recognize
with best um change is a challenging thing all of us do not like modification um so I believe it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having keeping numerous checking account however there's a huge amount of intricacy opts for setting up a bank account preserving it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is huge however I think the honest response is change um individuals haven't been able to change or haven't had always the understanding to actually make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter however we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might practically be identified to be the next Century approximately there is a lot to track and this technique does posture a number of obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I just did you changed our Business 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 International staff members you deserve a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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