Find out more about Papaya Global Cabo Verde ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and dependable technique of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app simplifies my payroll process, saving me a considerable amount of time each month. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Employee Website provides workers with the ability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps business use competitive advantages bundles to global workers despite the number of workers in the company. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local advantages suppliers in every country, develop local accounts and have a minimum variety of employees.
The HR capabilities supplied by Global HR encompass various functions such as monitoring vacation time, ensuring compliance, helping with the process of inviting new employees and bidding farewell to departing ones, providing a protected online platform for saving workers' documents, and supplying assistance for work allow treatments in case your employees require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total work costs dispersed per place, total employment costs per cycle and a lot more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business managing and structure external relationships supporting Business clients and solutions along with functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've type of had a range of various roles on the provider side and also on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely very bleak and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya International payroll payments as a strategic asset uh we'll also go over a recap which needs to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more common and managing them ends up being more and more complicated Global organizations are aiming to find Solutions and brand-new ways to enhance processes particularly from a payroll and cross-border payment viewpoint numerous organizations maintain different bank account just for payroll while some have numerous accounts in various countries does it make sense for business to keep separate savings account sometimes in different nations it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies simplify the episode complex procedures of
Making sure precise, effective, and prompt payroll payments is a complex obstacle for businesses operating internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to optimize working capital, and discover how streamlining global payroll payments can transform them from a burdensome task into a tactical possession.
Managing payroll internationally is a difficult job due to numerous regulations, compliance requirements, information security concerns, and banking rules. The large variety of staff members and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual procedures, information silos, and an absence of combination, resulting in disparities and ineffectiveness. In spite of living in an era of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to offer insights and services 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 Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more a business invests in worldwide payroll the less of a photo they see a lack of presence likewise encompasses payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of international organizations have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors improperly communicated hires and terminations along with lack management and system setups and then when you round everything off and the information is shipped to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they count on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and state what is it what does not need to be consisted of right and what does
it require to be thought about there's differing 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 have to pay from the client's own in-country account so there's intricacy anywhere you look ideal ultimately constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 essential and technology is enabling us to sort of move on with that it likewise also to add to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly impressed when people state 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 occupation would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end process it's the point of data 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
world we live in and wellness being a growing number of essential to add to sort of the level of complexity there's increasingly more benefits being organ or being provided by organizations across the world so once again you're simply wanting to include increasingly more payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real challenges or real difficult sort of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a number of decades I would absolutely state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually handling the payment side of things however you know in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and a period that you understand that we are operating in today there is no reason why we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any business has from a cost perspective from an effect viewpoint on workers it is definitely vital that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful result on individuals's well-being and numerous other elements if individuals aren't paid uh I've constantly been surprised coming into this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely vital that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment option is a great first step um providing an end-to-end payroll service for your staff members worldwide again I think is another substantial um process again lining up and guaranteeing you have standardization Worldwide processes all of those things are definitely crucial to success success of services and minimizing the variety of tools platforms and savings account they require for their Worldwide 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've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're suggested to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand how how crucial a role 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 simple as possible for everybody that's involved in those procedures and also so picture sorry I'm simply I was simply gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task trying 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 need days of the week to try to browse them and in fact see what was going on and kind of try to return to everyone so carrying on appearance why do business select to primary different savings account there are organizations out there doing precisely this for specific countries and I have actually operated in a company or lots of organizations doing exactly that I can state it doesn't always feel effective and it does develop more work I understand we're not purposely doing that we're not developing extra work for any person where we don't have to and anyone that's dealing with 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 requirement I believe people have got so utilized to we require a brand-new bank 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 think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to add to that individuals have taken a look 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 process that needs looking at it requires changing but eventually individuals are very stuck with what they're familiar
with ideal um modification is a difficult thing we all do not like change um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having maintaining multiple checking account but there's a huge amount of intricacy opts for establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual people so the complexity is huge but I believe the honest response is change um individuals haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could almost be identified to be the next Century or two there is a lot to track and this approach does pose numerous obstacles um so Johnny could you inform us about those obstacles yeah obviously 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 Worldwide workers you should have a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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