Find out more about Papaya Global Zimbabwe ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and reliable method of paying to our 10,000 employees worldwide.}
The advanced global payroll management app improves my payroll process, conserving me a significant quantity 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.
Staff member Website
Employees have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive benefits packages to worldwide staff members regardless of the number of employees in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages suppliers in every nation, create local accounts and have a minimum number of employees.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, total employment expenses dispersed per area, total employment costs per cycle and much more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business managing and building external relationships supporting Business customers and services as well as acting as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've type of had a variety of various functions on the service provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide 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 kind 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 everyone comes from and I actually 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 extremely extremely gloomy and I wish I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business maintain separate
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of preserving separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in enough in one nation however when you're doing it globally it's next level and Beyond it becomes intricate for a range of factors most importantly regulations compliance information security and banking guidelines then there are the large numbers they include further complexity the worldwide Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 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 traditional payroll model there's frequently a frustrating variety of various systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or extremely very standard there's no genuine consistency structure we're residing in a period of tech but payroll has 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 every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization spends on global payroll the less of a photo they see a lack of exposure likewise encompasses payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal nearly half of global businesses have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes badly interacted hires and terminations along with lack management and system setups and then when you round all of it off and the data is delivered to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they count on the needed several procedures 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 making payments to employees or otherwise that's a good question I constantly throw this back and state what is it what doesn't require to be included best and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 consumer's own in-country account so there's intricacy anywhere you look right ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is permitting us to type of move forward with that it also also to add to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and financing teams work better together than ever um I'm always impressed when individuals say 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 calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more crucial to contribute to type of the level of intricacy there's a growing number of benefits being organ or being used by companies throughout the world so once again you're simply looking to add more and more payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine difficulties or real challenging sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would definitely say that the larger an organization 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 info into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we need to create extra handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and appropriately as you said payroll is the single most significant liability that any company has from an expense viewpoint from an impact perspective on employees it is absolutely important that it's done properly 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 biggest detrimental result on people's wellness and numerous other elements if people aren't paid uh I've constantly been amazed entering into this Market sort of the last 5 to ten years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people just discover when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally too. Therefore, it is vital to ensure that jobs like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the very first International Payments first payroll payment solution is an excellent initial step towards offering a detailed payroll service for employees worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and bank accounts required for worldwide payroll are crucial factors in attaining organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyhow we understand 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 easy as possible for everyone that's associated with those processes and also so envision sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and kind of shot to get back to everyone so proceeding appearance why do business choose to primary separate checking account there are services out there doing precisely this for particular countries and I've worked in a service or numerous businesses doing precisely that I can state it does not constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anyone where we do not have to and anybody that's handling 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 amount that we are I think numerous factors one is it's the standard I believe individuals have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I think this is a procedure that requires taking a look at it requires altering however eventually individuals are really stuck with what they're familiar
with right um change is a challenging thing we all don't like modification um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having keeping numerous bank accounts however there's a substantial amount of complexity opts for establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for specific individuals so the complexity is substantial however I believe the honest answer is change um individuals have not been able to alter or have not had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century or two there is a lot to monitor and this approach does position a number of challenges um so Johnny might you tell us about those difficulties yeah obviously so there's a range 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 protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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