Find out more about Azimo Papaya Global ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and secure and trustworthy technique of making payments to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll procedure, conserving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Employee Website offers workers with the ability to access and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to global staff members regardless of the number of staff members in the company. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local advantages companies in every nation, create local accounts and have a minimum variety of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, total work costs dispersed per area, overall employment expenses per cycle and much more.
environments across the globe I provided management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout business handling and building external relationships supporting Enterprise customers and solutions in addition to functioning as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll viewpoint so really eagerly 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 couple of uh well one of the 30 seconds or so to join we all 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 currently simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually 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 want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies keep separate
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex challenge for organizations running globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to enhance working capital, and discover how simplifying global payroll payments can transform them from a challenging job into a strategic asset.
Handling payroll internationally is a challenging task due to various regulations, compliance requirements, data security concerns, and banking guidelines. The sheer number of employees and services contributes to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems often lead to manual processes, data silos, and a lack of combination, resulting in disparities and ineffectiveness. Despite residing in an era of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to supply insights and options to simplify and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a company invests in global payroll the less of a picture they see a lack of exposure likewise extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction nearly half of global organizations have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors improperly interacted hires and terminations as well as lack management and system setups and after that when you round everything off and the information is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they rely on the required several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties service face when they're paying to staff members or otherwise that's a good question I always throw this back and state what is it what does not need to be included best and what does
it need to be considered 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 have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy any place you look ideal ultimately developing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 move on with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and financing groups work closer together than ever um I'm always astonished when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation 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 process it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on wellness and the compensation landscape is becoming progressively elaborate. Businesses are continually introducing brand-new benefits and payment options, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly advanced era, there's no justification for keeping troublesome treatments. Payroll, the company's biggest expenditure, must be processed properly and on time. Even slight delays can adversely affect workers' wellness and have far-reaching effects. For that reason, it's crucial to prioritize precise and prompt payments.
payroll team get um so I'm unsure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think 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 correctly so leveraging the first International Payments first payroll payment option is an excellent initial step um providing an end-to-end payroll option for your workers globally once again I think is another big um process once again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of services and minimizing the number of tools platforms and savings account they need for their Global 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 ever had a hundred countless them within a payroll cycle don't anticipate 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 suggested to be um I don't believe any of us are actually doing that for for the thanks
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 simple as possible for everybody that's involved in those processes and also so think of sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and sort of try to return to everyone so moving on look why do companies select to primary separate savings account there are businesses out there doing exactly this for specific nations and I've operated in an organization or numerous companies doing exactly that I can state it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not creating extra work for anyone where we don't have 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 requirement I think individuals have actually got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement 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 numerous other methods um to to kind of do it so I think there's a variety I believe this is a procedure that needs taking a look at it needs changing but eventually people are really stuck with what they recognize
with right um change is a tough thing we all do not like modification um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having preserving multiple checking account but there's a huge amount of complexity goes with setting up a savings account keeping it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private individuals so the intricacy is substantial but I think the truthful response is modification um individuals have not been able to change or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or so there is a lot to keep track of and this method does pose numerous difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I just did you switched our Business 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 Global employees you are worthy of a corner office with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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