Find out more about Papaya Global South Africa ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and secure and reliable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a substantial quantity of time every month. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Employee Website supplies staff members with the capability to access and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits bundles to worldwide workers despite the number of employees in the company. The business can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits providers in every country, create local accounts and have a minimum number of employees.
The HR capabilities provided by Worldwide HR include different functions such as keeping an eye on holiday time, making sure compliance, assisting in the process of welcoming new employees and bidding goodbye to leaving ones, using a safe and secure online platform for saving employees' files, and supplying assistance for work allow procedures in case your staff members require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall employment expenses distributed per location, total work expenses per cycle and much more.
Internationally, I have shown management and tactical know-how in assisting large-scale populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My role involves handling and establishing external partnerships, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We focus on providing payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to meet you and thank you for your valuable 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 market, I have actually focused on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually kind of had a range of various roles on the provider side and likewise on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer 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 sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type 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 sunshine is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business keep different
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business properly forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most significantly policies compliance information security and banking rules then there are the sheer numbers they include further intricacy the global Labor force is currently 3 and a half billion people 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 consider that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll model there's typically an overwhelming number of various systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big amounts and or extremely very fundamental there's no genuine consistency structure we're residing in a period of tech however 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 offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a service spends on global payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of international organizations have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes poorly interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is delivered to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they rely on the necessary multiple 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 obstacles service face when they're making payments to employees or otherwise that's a good concern I always throw this back and state what is it what doesn't require to be consisted of right 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 abilities 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 client's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is absolutely crucial but all over you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to sort of progress with that it likewise as well to add to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals state I have actually split 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 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 people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on wellness and the settlement landscape is ending up being progressively detailed. Companies are continuously introducing brand-new benefits and payment options, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inefficiencies and bottlenecks. In my opinion, this doesn't have to be the case. In today's technologically advanced era, there's no reason for maintaining troublesome treatments. Payroll, the business's greatest cost, must be processed properly and on time. Even small delays can negatively affect employees' wellness and have far-reaching repercussions. For that reason, it's critical to focus on precise and timely payments.
payroll team get um so I'm not exactly sure anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle we all become aware of it when it fails everyone jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment solution is an excellent primary step um providing an end-to-end payroll solution for your employees internationally again I think is another substantial um process once again lining up and guaranteeing you have standardization International procedures all of those things are absolutely essential to success success of companies and reducing the number of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I do not believe any of us are actually doing that for for the thanks
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 everyone that's associated with those procedures and likewise so envision sorry I'm just I was just gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions picture 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 definitely be an interesting job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and type of shot to return to everyone so proceeding look why do business choose to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I have actually operated in a business or numerous companies doing precisely that I can say it does not always feel effective and it does produce more work I understand we're not deliberately doing that we're not creating additional work for any person where we do not have to and any person 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 numerous reasons one is it's the standard 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 however there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually adopted 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 variety I think this is a process that requires taking a look at it requires altering however ultimately individuals are very stuck to what they're familiar
with ideal um change is a difficult thing all of us don't like modification um so I believe it's just type 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 comprehend undoubtedly the benefits of having maintaining multiple bank accounts but there's a big amount of complexity goes with establishing a savings account maintaining it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private people so the intricacy is huge however I think the truthful answer is modification um individuals haven't been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century or so there is a lot to keep an eye on and this technique does posture a number of difficulties um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I 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 seems like our CFO has actually acquired another CFO, and with this enhanced capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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