Find out more about Papaya Global Uganda ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a secure and trustworthy method of paying to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, conserving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
The Worker Portal supplies staff members with the capability to access and view important 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 various languages.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to international workers regardless of the number of workers in the business. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional benefits companies in every country, develop regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall employment expenses dispersed per place, total employment costs per cycle and much more.
environments across the globe I provided management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work across business handling and building external relationships supporting Business customers and services as well as serving as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of various functions on the service provider side and likewise 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 give everyone another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating 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 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 very uninspiring and I want I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a tactical asset uh we'll also review a recap and that needs to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of common and handling them ends up being a growing number of intricate Global companies are seeking to discover Solutions and brand-new ways to improve processes especially from a payroll and cross-border payment standpoint numerous organizations keep different savings account just for payroll while some have numerous accounts in various nations does it make good sense for companies to preserve separate bank accounts sometimes in various countries it does however just for payroll is there a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies simplify the episode complex processes of
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of reasons most importantly regulations compliance data security and banking guidelines then there are the large numbers they include further complexity the international Workforce is currently 3 and a half billion people by 2030 it's estimated 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 businesses and growing all doing their own thing around the globe in the traditional payroll model there's often an overwhelming variety of various systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or really really basic there's no real consistency structure we're living in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind every time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization invests in worldwide payroll the less of an image they see an absence of presence also extends to payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of international companies have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors poorly communicated hires and terminations as well as lack management and system setups and then when you round everything off and the data is shipped to the wrong location the average expense of a global 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 rely on the necessary numerous processes systems and partners it is just 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 staff members or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't require to be included right and what does
it need to be thought about 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 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 intricacy wherever you look best ultimately building a knowledge base is definitely vital however everywhere you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link in 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 innovation is allowing us to kind of move on with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and financing teams work more detailed together than ever um I'm always surprised 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 profession would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on wellness and the settlement landscape is becoming increasingly intricate. Businesses are constantly introducing brand-new benefits and payment alternatives, which contributes to the total complexity. Large corporations typically divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technologically advanced era, there's no validation for keeping cumbersome treatments. Payroll, the company's greatest expense, need to be processed correctly and on time. Even slight delays can negatively affect staff members' wellness and have significant consequences. For that reason, it's critical to focus on precise and timely payments.
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just discover when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's perceived externally also. Therefore, it is essential to guarantee that jobs like Wi-Fi International and other vital matters are done properly. Using the first Global Payments very first payroll payment solution is an excellent initial action towards supplying a detailed payroll option for workers worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and savings account essential for global payroll are crucial consider attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of grievances when things do not go as planned. Eventually, we don't do it for the gratitude.
anyhow we know how how important a function 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 everybody that's associated with those processes and likewise so picture sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and really see what was going on and kind of shot to get back to everyone so proceeding look why do companies choose to primary separate bank accounts there are services out there doing precisely this for specific nations and I've operated in a business or many services doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anyone where we do not have to and any person that's dealing with 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 think many reasons one is it's the standard I think individuals have actually got so used to we require a new bank account we open an entity and rightly so you require it for payroll functions however 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 adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I believe this is a process that requires taking a look at it requires altering however ultimately people are extremely stuck to what they recognize
with best um modification is a challenging thing we all do not like change um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having maintaining multiple savings account however there's a huge amount of complexity goes with establishing a checking account keeping it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for individual individuals so the complexity is substantial but I think the sincere answer is change um individuals have not had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could almost be figured out to be the next Century or so there is a lot to keep an eye on and this technique does position several difficulties um so Johnny could you tell us about those difficulties 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 handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this enhanced capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your accomplishments.
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