Find out more about Papaya Global South Sudan ... 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 gotten a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a secure and reliable method of paying to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, saving me a significant amount of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Worker Portal
Employees have access to a Worker Website where they can view their pay slips, wage and tax declarations and employment files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive advantages plans to international workers regardless of the number of staff members in the company. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source local advantages providers in every country, create local accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR incorporate different functions such as keeping an eye on trip time, guaranteeing compliance, helping with the process of welcoming brand-new workers and bidding farewell to departing ones, providing a safe online platform for keeping employees' files, and supplying assistance for work allow treatments in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall work expenses dispersed per location, overall employment expenses per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work across the business handling and structure external relationships supporting Enterprise customers and solutions in addition to functioning as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and challenges of this field have always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually sort of had a range of different roles on the supplier side and likewise on the supplier side from a payroll point of view so really anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really 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 extremely very dreary and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies keep different
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical possession 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 accurately efficiently safely and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in sufficient in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of reasons most importantly guidelines compliance data security and banking guidelines then there are the large numbers they add further intricacy the worldwide Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the standard payroll design there's typically an overwhelming number of different systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in large amounts and or very very standard there's no genuine consistency structure we're living in a period 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 each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization spends on international payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of international services have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors improperly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the data is shipped to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they depend on the needed numerous processes 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 employees or otherwise that's a great question I always throw this back and say what is it what does not need to be included best and what does
it require to be considered 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 need to pay from the customer's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is definitely critical however everywhere you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you 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 fundamental and technology is permitting us to type of progress with that it also also to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely essential that payroll and finance teams work closer together than ever um I'm always amazed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation 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 process it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more crucial to contribute to type of the level of intricacy there's more and more advantages being organ or being offered by organizations across the world so again you're just looking to include more and more payments to this already 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 people I believe yeah I mean over the last well yeah a number of years I would certainly say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding information into the next function as it were that's really handling the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and a period that you understand that we are working in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any company has from a cost point of view from an impact perspective on employees it is definitely critical 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 need to be done right it has the greatest harmful effect on people's wellness and many other aspects if individuals aren't paid uh I have actually constantly been astonished coming into this Market sort of the last 5 to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just discover when things fail. However, when things go right, it's seen as just a routine job. This is how it's perceived externally as well. For that reason, it is important to ensure that jobs like Wi-Fi Global and other essential matters are done properly. Utilizing the very first International Payments very first payroll payment service is a terrific preliminary action towards supplying a thorough payroll solution for employees worldwide. Standardization, international procedures, and reducing the number of tools, platforms, and savings account needed for global payroll are essential consider accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we understand how how crucial 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 easy as possible for everyone that's associated with those processes and also so envision sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case 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 companies select to main different checking account there are organizations out there doing precisely this for specific nations and I've operated in a service or numerous companies doing precisely that I can say it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not creating additional work for anybody where we don't need to and anybody that's managing 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 think numerous reasons one is it's the requirement I think people have actually got so utilized to we need a new checking 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 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 methods um to to sort of do it so I believe there's a range I believe this is a procedure that needs taking a look at it needs altering however eventually individuals are really stuck with what they're familiar
with ideal um modification is a tough 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 great deal of track of things um I comprehend certainly the benefits of having maintaining numerous bank accounts however there's a substantial amount of intricacy chooses setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is substantial but I think the sincere response is change um individuals haven't had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be identified to be the next Century approximately there is a lot to track and this method does pose numerous difficulties um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I simply did you switched our Enterprise 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 Worldwide staff members you are worthy of a corner workplace with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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