Find out more about Papaya Global Nigeria ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and dependable technique of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, conserving me a considerable amount of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Employee Website supplies employees with the ability to access and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists companies use competitive advantages packages to international employees regardless of the number of staff members in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source regional advantages suppliers in every country, create regional accounts and have a minimum variety of staff members.
The HR abilities offered by International HR incorporate various functions such as keeping track of trip time, making sure compliance, helping with the procedure of welcoming brand-new staff members and bidding goodbye to departing ones, providing a secure online platform for saving workers' files, and offering assistance for work permit procedures in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total work costs dispersed per place, overall work expenses per cycle and far more.
Internationally, I have demonstrated management and tactical competence in guiding large-scale populations of over 100,000 workers across 170 countries. Presently, I are accountable for managing payroll techniques, as discussed by Mark. My role involves handling and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
company to make the time 100 list for the majority of influential companies on the planet we offer payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent night depending upon where you are in the world it's beautiful to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or six years where I have actually type of had a variety of various functions on the service provider side and also on the vendor side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide 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 quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually 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 very extremely dreary and I want I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business keep different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially useful for international companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of keeping different checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined 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 possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in adequate in one country however when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of reasons most significantly guidelines compliance data security and banking rules then there are the large numbers they add additional intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll model there's typically an overwhelming variety of different systems causing time-consuming manual procedures and silos the number of Combinations could be non-existent in big quantities and or really extremely fundamental there's no real consistency structure we're living in a period of tech but payroll has 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 just blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more a service spends on international payroll the less of a picture they see a lack of presence also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of global companies have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors improperly interacted hires and terminations along with absence management and system setups and after that when you round it all off and the information is shipped to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they rely on the essential numerous procedures 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 company face when they're paying to workers or otherwise that's a great question I constantly throw this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought about 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 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 customer's own in-country account so there's complexity anywhere you look best eventually constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if however some infants 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 definitely essential and innovation is enabling us to sort of move on with that it also too to contribute to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work better together than ever um I'm always amazed 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 operate in the payroll profession would they split the payroll payment from calculation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more essential to add to sort of the level of complexity there's a growing number of advantages being organ or being offered by companies throughout the world so again you're just aiming to include a growing number of payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine challenges or genuine difficult kind of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of years I would certainly say that the bigger 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 info into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to create additional handoffs at the same times that we run 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 a period of tech and an era that you understand that we are operating in today there is no reason why we are still making this as challenging as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any organization has from a cost viewpoint from an effect perspective on staff members it is definitely crucial that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful effect on individuals's well-being and numerous other elements if people aren't paid uh I have actually constantly been amazed entering into this Market kind of the last five to 10 years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just discover when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. For that reason, it is essential to guarantee that tasks like Wi-Fi International and other important matters are done properly. Using the first International Payments very first payroll payment solution is a fantastic preliminary action towards offering an extensive payroll solution for workers worldwide. Standardization, global processes, and reducing the number of tools, platforms, and bank accounts needed for worldwide payroll are essential consider accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things do not go as planned. Ultimately, we do not do it for the gratitude.
anyway 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 everybody that's involved in those processes and likewise so envision sorry I'm just I was just gon na say picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and type of shot to get back to everybody so carrying on appearance why do companies choose to main separate savings account there are businesses out there doing exactly this for specific countries and I've worked in a service or lots of businesses doing exactly that I can say it does not constantly feel efficient and it does create more work I know we're not deliberately doing that we're not creating extra work for anybody where we do not need to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I believe people have actually got so used to we require a new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I think this is a process that requires taking a look at it requires changing however ultimately individuals are extremely stuck with what they're familiar
with best um change is a challenging thing all of us don't like modification um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having preserving numerous savings account however there's a substantial amount of intricacy opts for setting up a savings account maintaining it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private people so the intricacy is big but I believe the sincere answer is change um individuals haven't had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a checking 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 change but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might almost be determined to be the next Century approximately there is a lot to monitor and this approach does position a number of challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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