Find out more about Papaya Global Zambia ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and reliable technique of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Worker Portal offers staff members with the ability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global helps business offer competitive benefits bundles to worldwide staff members despite the variety of employees in the business. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every nation, produce local accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR incorporate numerous functions such as keeping an eye on holiday time, ensuring compliance, facilitating the procedure of inviting brand-new staff members and bidding farewell to leaving ones, offering a safe and secure online platform for keeping workers' documents, and providing assistance for work permit procedures in case your staff members need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment costs distributed per location, overall employment expenses per cycle and much more.
environments across the globe I supplied management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work across the business handling and building external relationships supporting Enterprise clients and options in addition to acting as an advisor for those of you that don't know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential business worldwide we offer payroll payments and workforce management to all worker enters 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 good afternoon good night depending on where you are in the world it's beautiful 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 have actually remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually kind of had a range of different roles on the provider side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everybody another couple of uh well among 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 intriguing 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 everyone comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely bleak and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a strategic property uh we'll likewise discuss a wrap-up and that should leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more typical and managing them ends up being a growing number of intricate International organizations are seeking to find Solutions and new ways to simplify processes especially from a payroll and cross-border payment perspective many organizations preserve different bank account just for payroll while some have numerous accounts in different nations does it make sense for business to preserve different checking account often in different nations it does but just for payroll exists a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international business simplify the episode complex procedures of
Guaranteeing precise, efficient, and prompt payroll payments is a complex difficulty for businesses running worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, discover how business forecast payroll costs to enhance working capital, and discover how enhancing worldwide payroll payments can change them from a burdensome job into a tactical possession.
Managing payroll internationally is a complicated task due to various policies, compliance requirements, information security issues, and banking guidelines. The sheer number of employees and businesses contributes to the complexity, with an approximated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual procedures, information silos, and an absence of combination, causing disparities and ineffectiveness. In spite of residing in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to provide insights and solutions to streamline and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more a business invests in worldwide payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide services have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes improperly interacted hires and terminations as well as absence management and system configurations and after that when you round it all off and the information is shipped to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they count on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties business face when they're making payments to workers or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be included right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 client's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is definitely vital but 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 take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to type of progress with that it also too to add to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is definitely vital that payroll and finance groups work more detailed together than ever um I'm constantly impressed when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high value on well-being and the payment landscape is ending up being progressively intricate. Companies are continually presenting brand-new advantages and payment alternatives, which contributes to the total complexity. Big corporations often divide their payroll and payment processing into different groups, which can result in inadequacies and bottlenecks. In my opinion, this does not need to hold true. In today's technologically sophisticated era, there's no justification for maintaining cumbersome procedures. Payroll, the business's greatest expenditure, need to be processed correctly and on time. Even slight hold-ups can negatively affect employees' wellness and have far-reaching consequences. Therefore, it's crucial to focus on accurate and prompt payments.
payroll team get um so I'm not exactly sure anyone on this type of webinar has actually been told thank you for processing my payroll correctly 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 hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the very first International Payments first payroll payment option is a fantastic initial step um supplying an end-to-end payroll solution for your workers internationally once again I think is another big um procedure again lining up and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of services and reducing the number of tools platforms and savings account they need for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how essential 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 everyone that's involved in those procedures and also so picture sorry I'm just I was just gon na say envision 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 numerous thousands potentially Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task trying to clean all those up for sure oh definitely 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 try to browse them and actually see what was going on and type of shot to return to everyone so carrying on look why do business pick to main different checking account there are companies out there doing precisely this for particular countries and I have actually operated in a business or numerous services doing exactly that I can state it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not producing additional work for anyone where we don't need to and anyone that's managing that process 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 believe people have got so utilized to we require a brand-new checking account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I believe this is a procedure that requires looking at it requires changing but eventually people are extremely stuck with what they're familiar
with best um modification is a tough thing all of us don't like modification um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having preserving several savings account but there's a big amount of intricacy goes with establishing a bank account preserving it ensuring it can send International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is huge but I believe the sincere response is change um individuals have not been able to change or have not had always the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is understanding you know and there is an element of resistance to change however we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century or so there is a lot to keep an eye on and this approach does position a number of difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I simply did you switched 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 Global employees you are worthy of a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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