Find out more about Papaya Global Courses South Africa ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and dependable method of paying to our 10,000 workers worldwide.}
The innovative global payroll management app enhances my payroll process, saving me a considerable quantity of time every month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Employee Website provides employees with the capability to gain access to and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits bundles to worldwide employees regardless of the number of employees in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source local advantages companies in every country, produce local accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall employment costs distributed per place, total employment costs per cycle and much more.
Internationally, I have demonstrated management and strategic know-how in assisting large-scale populations of over 100,000 employees throughout 170 countries. Presently, I are accountable for overseeing payroll techniques, as discussed by Mark. My role involves handling and developing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We specialize in offering payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of various roles on the service provider side and also on the vendor side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everyone another couple of uh well one of 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 quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly 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 really uninspiring and I want I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies maintain different
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one nation but when you're doing it internationally it's next level and Beyond it becomes complex for a range of factors most importantly policies compliance information security and banking guidelines then there are the large numbers they add more complexity the worldwide Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll model there's frequently an overwhelming number of various systems causing time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or very really standard there's no genuine consistency structure we're living in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind whenever I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a service invests in worldwide payroll the less of an image they see a lack of presence also reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide businesses have actually expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes poorly interacted hires and terminations in addition to lack management and system configurations and after that when you round everything off and the information is delivered to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they depend on the necessary multiple procedures systems and partners it is just not possible so Johnny from a payments point of view 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 a good concern I constantly toss this back and state what is it what does not require to be included ideal and what does
it require to be thought of there's differing 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy wherever you look right eventually constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble very payments no if but some babies 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 think there's now a bit more recognition that payroll payments are definitely basic and technology is permitting us to kind of move forward with that it also as well to contribute to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is absolutely important that payroll and financing groups work closer together than ever um I'm constantly astonished when individuals say I've split payroll and payment um if you walk down the street and asked anyone 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 typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the settlement landscape is becoming significantly detailed. Organizations are continuously introducing new advantages and payment options, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can cause inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's highly advanced period, there's no reason for keeping troublesome procedures. Payroll, the business's biggest expenditure, should be processed properly and on time. Even minor hold-ups can adversely impact workers' well-being and have significant repercussions. Therefore, it's crucial to focus on accurate and prompt payments.
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just discover when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally too. For that reason, it is essential to make sure that tasks like Wi-Fi Global and other essential matters are done properly. Utilizing the very first Global Payments first payroll payment option is an excellent preliminary step towards providing a thorough payroll solution for staff members worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and bank accounts needed for global payroll are crucial factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyway we understand how how important 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 simple as possible for everybody that's associated with those processes and also so imagine sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task attempting to clean all those up for sure oh definitely I can't imagine 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 really see what was going on and sort of try to return to everybody so carrying on look why do companies pick to primary separate bank accounts there are services out there doing exactly this for specific countries and I have actually worked in an organization or many businesses doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not producing extra work for any person where we do not need to and anybody that's dealing with 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 numerous reasons one is it's the standard I think individuals have actually got so utilized to we require a new bank account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs altering but eventually individuals are really stuck to what they're familiar
with ideal um modification is a challenging thing all of us do not like change um so I think it's just 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 obviously the advantages of having preserving several bank accounts however there's a huge quantity of intricacy goes with establishing a checking account keeping it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual individuals so the complexity is huge but I think the truthful answer is modification um individuals haven't been able to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we have actually always 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 present numerous difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I simply did you changed 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 Worldwide workers you deserve a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
Papaya Global Aeo