Find out more about Papaya Global Rwanda ... 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 obtained a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and secure and dependable approach of paying to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll process, conserving me a significant quantity of time each month. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
The Employee Portal offers employees with the capability to access and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global assists business provide competitive advantages packages to global employees no matter the variety of staff members in the company. The business can establish health insurance, short-term and long-term disability, vision, dental 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 staff members.
The HR abilities provided by International HR encompass various functions such as keeping an eye on trip time, making sure compliance, assisting in the process of welcoming new employees and bidding farewell to leaving ones, providing a safe online platform for storing workers' documents, and offering support for work allow treatments in case your staff members require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, overall work expenses distributed per location, overall work expenses per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout business handling and building external relationships supporting Business clients and services in addition to acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for many prominent business worldwide we provide payroll payments and labor force management to all employee types in over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon good evening depending on where you remain in the world it's beautiful 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 working on the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I've sort of had a range of different functions on the company side and also on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really bleak and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a tactical possession uh we'll likewise go over a wrap-up which ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of typical and handling them ends up being increasingly more complicated International organizations are aiming to find Solutions and new methods to streamline procedures particularly from a payroll and cross-border payment perspective lots of companies keep different savings account just for payroll while some have multiple accounts in different nations does it make sense for business to keep separate savings account sometimes in different countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business enhance the episode complex processes of
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for companies operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and discover how enhancing global payroll payments can transform them from a challenging task into a strategic asset.
Managing payroll worldwide is a complicated task due to different regulations, compliance requirements, information security concerns, and banking rules. The large number of employees and businesses contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of integration, resulting in inconsistencies and inefficiencies. In spite of residing in an era of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to supply insights and options to streamline and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization invests in global payroll the less of a photo they see a lack of presence likewise reaches payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of international companies have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors improperly interacted hires and terminations as well as lack management and system configurations and after that when you round all of it off and the data is delivered to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they depend on the required several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a good concern I constantly throw this back and say what is it what does not need to be consisted of best and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 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 important however all over 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 kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is permitting us to kind of move on with that it also as well to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely vital that payroll and finance groups work more detailed together than ever um I'm always amazed when people state 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 a market 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 data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more important to add to type of the level of complexity there's a growing number of benefits being organ or being used by organizations throughout the world so again you're just wanting to include a growing number of payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine challenges or genuine challenging type of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of years I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things but you know in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we run in they just 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 operating in today there is no reason why we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single greatest liability that any service has from a cost viewpoint from an effect viewpoint on employees it is definitely vital that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental effect on people's well-being and lots of other elements if people aren't paid uh I have actually constantly been surprised coming into this Market sort of the last five to 10 years is how little thanks the
The payroll team might 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 staff members or not. Payroll is an essential cycle, and individuals just observe when things fail. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's viewed externally as well. Therefore, it is necessary to guarantee that jobs like Wi-Fi International and other important matters are done correctly. Using the first Global Payments first payroll payment option is a fantastic initial step towards supplying an extensive payroll service for staff members worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and savings account required for global payroll are crucial factors in accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we understand how how important a role it is and that'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 envision sorry I'm just I was simply gon na say think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions envision getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and really see what was going on and type of try to get back to everybody so proceeding appearance why do business select to main different checking account there are businesses out there doing precisely this for particular countries and I've operated in a business or numerous businesses doing exactly that I can say it doesn't always feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for anyone where we do not need to and anyone that's managing 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 quantity that we are I think lots of factors one is it's the requirement I think individuals have actually got so used to we need a new bank account we open an entity and appropriately so you require it for payroll purposes 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 the people have actually adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs changing but ultimately people are extremely stuck with what they recognize
with right um change is a difficult thing all of us don't like change um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having maintaining several checking account however there's a huge amount of intricacy chooses establishing a checking account maintaining it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is big however I think the honest answer is modification um individuals have not been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century or two there is a lot to monitor and this technique does present several obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this enhanced capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your accomplishments.
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