Find out more about Papaya Global Africa ... 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 actually gotten a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and reputable method of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Staff member Website
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment files. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to global workers despite the variety of staff members in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source regional advantages providers in every nation, produce regional accounts and have a minimum variety of workers.
The HR capabilities supplied by Global HR include various functions such as monitoring vacation time, guaranteeing compliance, facilitating the procedure of welcoming brand-new workers and bidding goodbye to departing ones, using a safe online platform for storing employees' documents, and providing support for work allow procedures in case your workers need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall employment costs dispersed per location, total work expenses per cycle and far more.
Globally, I have actually demonstrated leadership and strategic know-how in directing massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for overseeing payroll methods, as mentioned by Mark. My role includes handling and establishing external collaborations, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for many prominent companies worldwide we provide payroll payments and workforce management to all employee key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon good evening depending on where you remain in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually type of had a range of various functions on the supplier side and likewise on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting 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 comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely gloomy and I wish I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic possession uh we'll likewise review a recap and that must leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more common and handling them ends up being a growing number of complex Global organizations are wanting to discover Solutions and new ways to simplify procedures especially from a payroll and cross-border payment standpoint many organizations preserve different savings account just for payroll while some have several accounts in various countries does it make good sense for companies to keep separate checking account often in various countries it does however just for payroll exists a better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international business improve the episode complex procedures of
Guaranteeing accurate, effective, and prompt payroll payments is a complex challenge for businesses running internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to enhance working capital, and discover how simplifying worldwide payroll payments can change them from a troublesome job into a strategic asset.
Handling payroll worldwide is an overwhelming task due to different regulations, compliance requirements, data security issues, and banking guidelines. The large variety of workers and services adds to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual processes, information silos, and an absence of integration, resulting in inconsistencies and inefficiencies. Despite residing in an era of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to supply insights and services to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more a service spends on international payroll the less of a picture they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of global organizations have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is delivered to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they depend on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're paying to employees or otherwise that's a good question I constantly toss this back and state what is it what does not require to be included right and what does
it require to be thought of 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 have to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity anywhere you look right ultimately building a knowledge base is absolutely crucial but all over you look with payroll payment they resemble super payments no if but some infants 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 believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to kind of progress with that it likewise as well to add to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and financing groups work closer together than ever um I'm always astonished when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from estimation 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 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
world we reside in and well-being being a growing number of important to contribute to kind of the level of complexity there's more and more benefits being organ or being offered by businesses across the world so once again you're just aiming to add increasingly more payments to this currently intricate 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 obstacles or real difficult kind of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things but you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any business has from an expense perspective from an effect perspective on staff members it is absolutely important that it's done correctly 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 damaging effect on individuals's wellness and lots of other elements if people aren't paid uh I have actually constantly been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anyone 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 people only notice when things go wrong. However, when things go right, it's seen as simply a routine task. This is how it's perceived externally also. For that reason, it is important to guarantee that tasks like Wi-Fi Worldwide and other important matters are done correctly. Using the first Global Payments first payroll payment solution is an excellent initial step towards offering a detailed payroll solution for staff members worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and bank accounts required for worldwide payroll are essential factors in achieving company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as prepared. Ultimately, we don't do it for the gratitude.
anyway we understand how how important a function it is which'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 procedures and also so envision sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions think of getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and in fact see what was going on and type of try to return to everyone so carrying on look why do companies pick to main different bank accounts there are businesses out there doing precisely this for particular countries and I have actually operated in an organization or lots of services doing exactly that I can say it doesn't always feel effective and it does develop more work I understand we're not deliberately doing that we're not creating additional work for anybody where we do not have to and any person that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many factors one is it's the requirement I believe individuals have got so used to we require a brand-new bank account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I believe this is a process that needs taking a look at it requires changing however eventually individuals are really stuck with what they're familiar
with ideal um modification is a tough thing we all don't like change um so I believe it's just sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving several savings account however there's a substantial amount of intricacy goes with setting up a checking account maintaining it ensuring it can send International transfers ensuring it's established with the right user accesses for individual individuals so the complexity is huge but I believe the honest response is modification um individuals haven't been able to alter or have not had always the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to alter however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be determined to be the next Century or two there is a lot to track and this method does position numerous difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you are worthy of a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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