Find out more about Papaya Global South Africa ... We now have the capability to handle 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 particularly devoted to handling payments. This supplies us with a safe and secure and trusted approach of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, conserving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
The Worker Website offers workers with the capability to access and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is used in numerous languages.
Advantages Administration
Papaya Global helps companies offer competitive advantages packages to worldwide employees despite the number of staff members in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional advantages providers in every country, develop local accounts and have a minimum variety of staff members.
The HR capabilities supplied by Worldwide HR encompass various functions such as monitoring holiday time, making sure compliance, helping with the process of welcoming new workers and bidding goodbye to departing ones, providing a safe and secure online platform for storing workers' files, and providing support for work permit treatments in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall work costs distributed per area, overall work costs per cycle and a lot more.
Globally, I have actually shown management and tactical proficiency in assisting massive populations of over 100,000 employees throughout 170 countries. Presently, I are accountable for managing payroll strategies, as discussed by Mark. My role includes handling and developing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for the majority of prominent companies in the world we supply payroll payments and labor force management to all worker 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 present yourself obviously thank you good morning great afternoon excellent evening depending on where you are in the world it's beautiful to satisfy 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 remained in the payments market for over ten 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 type of make a real go at that over the last 5 or 6 years where I've type of had a variety of different roles on the company side and likewise on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately 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 kind of like see where everybody originates from and I actually 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 drizzling here it's very really uninspiring and I wish I was somewhere else at this moment in time all right so let's get started 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 preserve different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly useful for international organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how business properly forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a range of reasons most importantly guidelines compliance information security and banking guidelines then there are the sheer numbers they add more complexity the international Workforce is currently 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 consider that there are some 230 million businesses and growing all doing their own thing all over the world in the traditional payroll model there's often a frustrating number of different systems leading to lengthy manual processes and silos the variety of Combinations could be non-existent in big amounts and or very extremely basic there's no genuine consistency framework we're living in an age of tech however payroll has actually 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 just blows my mind whenever I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that offers me sleepless nights and quite frankly the more an organization spends on international payroll the less of an image they see an absence of presence likewise extends to payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide businesses have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes badly interacted hires and terminations as well as lack management and system setups and then when you round all of it off and the information is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they rely on the required several procedures 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 challenges company face when they're making payments to employees or otherwise that's a great question I always toss this back and say what is it what does not need to be consisted of right and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities 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 intricacy anywhere you look best ultimately constructing a knowledge base is absolutely important however all over you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in 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 enabling us to kind of progress with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely essential that payroll and financing groups work more detailed together than ever um I'm constantly surprised when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more important to contribute to kind of the level of intricacy there's increasingly more advantages being organ or being offered by businesses across the world so again you're simply seeking to add more and more payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or real challenging sort of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that's really handling the payment side of things however you understand 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 need to produce extra handoffs at the same times that we run in they just make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any business has from an expense perspective from an impact viewpoint on workers it is absolutely crucial that it's done correctly 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 destructive result on people's wellness and lots of other elements if individuals aren't paid uh I've constantly been impressed entering into this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done correctly so leveraging the first International Payments first payroll payment service is a great first step um supplying an end-to-end payroll service for your staff members internationally again I believe is another huge um process again aligning and guaranteeing you have standardization International processes all of those things are definitely key to success success of organizations and reducing the number of tools platforms and savings account they require for their International 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 have actually never ever had a hundred countless them within a payroll cycle don't anticipate 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 rather where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyway we know 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 simple as possible for everyone that's associated with those procedures and likewise so envision sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job attempting to clean up all those up for sure oh absolutely I can't imagine 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 kind of try to return to everybody so carrying on look why do companies choose to main separate bank accounts there are businesses out there doing precisely this for specific nations and I've operated in a company or many organizations doing exactly that I can state it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anyone where we don't have to and anyone that's managing 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 amount that we are I believe numerous reasons one is it's the requirement I believe individuals have actually got so used to we require a new savings 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 embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and lots of other ways 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 requires changing but eventually people are really stuck with what they're familiar
with ideal um change is a challenging thing we all do not like change um so I think it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having keeping several savings account however there's a huge quantity of complexity goes with establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private people so the complexity is huge however I believe the truthful response is modification um people haven't had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions besides opening a savings account I think you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century or two there is a lot to track and this approach does posture numerous difficulties um so Johnny could you inform us about those challenges yeah naturally so there's a range 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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