Find out more about Papaya Global Senegal ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly committed to handling payments. This supplies us with a safe and reliable approach of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a significant amount of time every month. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Employee Portal
Employees have access to a Worker Website where they can see their pay slips, wage and tax statements and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to worldwide workers regardless of the variety of workers in the company. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional advantages companies in every country, create regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall work costs distributed per place, total work expenses per cycle and a lot more.
Globally, I have shown leadership and tactical proficiency in directing massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for supervising payroll methods, as discussed by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for the majority of prominent business on the planet we offer payroll payments and labor force management to all staff member enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great evening depending upon where you remain in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually sort of had a range of various functions on the supplier side and also on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather interesting 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 everyone comes from and I actually 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 raining here it's really extremely bleak and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll likewise go over a wrap-up and that needs to leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being a growing number of common and managing them becomes increasingly more intricate Global organizations are wanting to discover Solutions and new methods to improve procedures specifically from a payroll and cross-border payment viewpoint many companies preserve different checking account just for payroll while some have numerous accounts in various nations does it make good sense for companies to preserve separate savings account sometimes in various nations it does however just for payroll is there a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international business streamline the episode complex procedures of
making payroll payments properly effectively safely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most significantly guidelines compliance data security and banking rules then there are the large numbers they add more complexity the global Workforce is currently 3 and a half billion individuals by 2030 it's approximated 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 businesses and growing all doing their own thing all over the world in the conventional payroll model there's typically a frustrating number of various systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in large quantities and or extremely very basic there's no genuine consistency structure we're living in a period of tech however 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 simply blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization spends on worldwide payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide businesses have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes inadequately interacted hires and terminations as well as lack management and system setups and then when you round it all 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 as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they count on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're making payments to workers or otherwise that's an excellent question I constantly throw this back and state what is it what does not require to be consisted of ideal and what does
it require to be thought of there's varying 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 capabilities 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 client's own in-country account so there's complexity wherever you look ideal ultimately constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and innovation is allowing us to sort of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and financing teams work better together than ever um I'm always astonished when individuals state 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 divide 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 information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high worth on wellness and the payment landscape is becoming progressively complex. Services are constantly introducing new advantages and payment alternatives, which contributes to the total intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can result in inadequacies and traffic jams. In my opinion, this doesn't have to hold true. In today's technically advanced age, there's no validation for maintaining troublesome treatments. Payroll, the company's greatest expense, need to be processed correctly and on time. Even small delays can adversely impact employees' well-being and have significant consequences. Therefore, it's crucial to prioritize accurate and timely payments.
payroll group get um so I'm unsure anyone 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 ultimately payroll is such a crucial cycle all of us become aware of it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment service is a fantastic first step um supplying an end-to-end payroll service for your workers worldwide once again I think is another big um procedure again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of organizations and lowering the number of tools platforms and bank accounts they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyhow 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 likewise so imagine sorry I'm just I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions think of 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 an interesting job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and type of shot to return to everybody so moving on look why do companies choose to primary different checking account there are organizations out there doing exactly this for specific countries and I've worked in a service or numerous businesses doing exactly that I can say it does not always feel effective and it does develop more work I know we're not deliberately doing that we're not developing additional work for anyone where we don't have to and anyone that's dealing with 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 quantity that we are I believe numerous reasons one is it's the requirement I think people have actually got so used to we need a new checking account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs altering but eventually individuals are very stuck to what they recognize
with best um modification is a difficult thing all of us do not like change um so I think it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving numerous checking account but there's a big quantity of complexity chooses setting up a savings account keeping it guaranteeing it can send International transfers ensuring it's established with the best user accesses for individual people so the intricacy is huge but I believe the truthful response is change um individuals haven't had the ability to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might practically be identified to be the next Century or so there is a lot to monitor and this technique does pose several challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I simply 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 Global employees you should have a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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