Find out more about Papaya Global Sudan ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a safe and secure and trusted method of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app simplifies my payroll procedure, conserving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
The Employee Portal offers workers with the capability to gain access to and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits packages to international employees regardless of the variety of staff members in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages providers in every country, produce local accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall work expenses distributed per place, overall work expenses per cycle and a lot more.
Worldwide, I have actually shown management and strategic knowledge in assisting large-scale populations of over 100,000 workers across 170 countries. Presently, I are accountable for overseeing payroll techniques, as discussed by Mark. My role includes managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for a lot of influential companies in the world we provide payroll payments and workforce management to all worker types in over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great night depending on where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem 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've type of had a variety of different roles on the company side and likewise on the supplier side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I really 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 really extremely dreary and I wish I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for businesses running internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, learn how companies forecast payroll expenses to optimize working capital, and discover how enhancing worldwide payroll payments can transform them from a challenging job into a tactical property.
Managing payroll internationally is a challenging task due to various guidelines, compliance requirements, data security concerns, and banking rules. The sheer number of staff members and services contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual processes, information silos, and a lack of integration, causing inconsistencies and inefficiencies. In spite of living in an era of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to supply insights and options to simplify and optimize international payroll payments.
about it to give you an idea 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 provides me sleepless nights and rather honestly the more a service spends on international payroll the less of a photo they see a lack of visibility also reaches payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of international businesses have expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors improperly interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the data is shipped to the wrong place the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they depend on the required multiple processes 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 difficulties company face when they're paying to workers or otherwise that's an excellent concern I always throw this back and state what is it what does not need to be included ideal and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 any place you look right ultimately developing a knowledge base is definitely crucial however all over you look with payroll payment they resemble incredibly payments no if but some babies 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is enabling us to kind of move on with that it also also to contribute to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely essential that payroll and finance teams work better together than ever um I'm always astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on well-being and the payment landscape is becoming progressively elaborate. Services are continuously introducing new advantages and payment alternatives, which contributes to the general intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can lead to inadequacies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technologically sophisticated era, there's no reason for maintaining cumbersome treatments. Payroll, the company's greatest cost, should be processed properly and on time. Even slight hold-ups can adversely affect workers' well-being and have far-reaching consequences. For that reason, it's critical to focus on accurate and timely payments.
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people only 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. Therefore, it is vital to make sure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Using the first Global Payments very first payroll payment option is an excellent initial action towards offering a detailed payroll solution for employees worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and checking account necessary for international payroll are key consider accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
anyhow we understand how how essential 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 everybody that's involved in those processes and also so picture sorry I'm simply I was simply gon na state think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and really see what was going on and sort of try to get back to everybody so moving on look why do business pick to primary separate savings account there are services out there doing precisely this for particular nations and I've worked in a company or many companies doing precisely that I can state it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not have to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I think individuals have actually got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a procedure that needs looking at it requires altering but eventually people are really stuck with what they recognize
with best um modification is a tough thing we all do not like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having preserving several bank accounts but there's a big quantity of complexity goes with setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for individual people so the complexity is substantial but I believe the honest response is change um individuals have not been able to change or haven't had always the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could practically be figured out to be the next Century or two there is a lot to keep track of and this method does position numerous obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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