Find out more about Papaya Global Dominica ... We now have the ability 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 provides us with a protected and reputable method of paying to our 10,000 workers worldwide.}
The cutting-edge international payroll management app improves my payroll procedure, conserving me a substantial quantity of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Employee Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive advantages bundles to worldwide workers despite the number of staff members in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages companies in every nation, produce regional accounts and have a minimum number of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total employment expenses distributed per area, total employment costs per cycle and much more.
Globally, I have shown leadership and strategic knowledge in assisting massive populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role involves managing and developing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for the majority of influential business on the planet we offer payroll payments and labor force management to all worker key ins over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent night depending on where you are in the world it's charming to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually sort of had a range of various roles on the service provider side and also on the supplier side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everybody 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 remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very really dreary and I wish I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies keep different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is particularly useful for worldwide organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of preserving different checking account for payroll in different countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most importantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include more intricacy the international Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the traditional payroll design there's typically a frustrating variety of various systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or very really fundamental there's no genuine consistency framework we're living in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind every time I I think
about it to provide you a concept 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 offers me sleep deprived nights and quite frankly the more an organization spends on global payroll the less of a picture they see a lack of visibility also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of international companies have expressed that they don't 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 poor HCM data information entry errors badly interacted hires and terminations along with absence management and system configurations and then when you round it all off and the information is shipped to the wrong place the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they rely on the essential several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges business face when they're making payments to employees or otherwise that's a good question I always throw this back and say what is it what does not need to be consisted of ideal and what does
it require to be thought about 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 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 consumer's own in-country account so there's intricacy wherever you look best ultimately constructing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble very payments no if however 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 think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to type of progress with that it likewise too to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm constantly surprised when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to contribute to kind of the level of complexity there's more and more advantages being organ or being offered by services throughout the world so again you're simply seeking to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine difficulties or genuine tough type of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding information into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to create additional handoffs at the same times that we run 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 era of tech and an era that you understand that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single biggest liability that any company has from a cost perspective from an effect viewpoint on workers it is definitely important that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the most significant detrimental result on people's well-being and lots of other aspects if individuals aren't paid uh I have actually always been surprised coming into this Market type of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only discover when things go wrong. However, when things go right, it's seen as just a routine task. This is how it's viewed externally too. Therefore, it is vital to make sure that tasks like Wi-Fi International and other important matters are done properly. Using the very first Worldwide Payments first payroll payment service is an excellent preliminary step towards offering a comprehensive payroll option for employees worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and checking account needed for international payroll are crucial consider achieving organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things do not go as prepared. Eventually, we don't do it for the thankfulness.
anyway we know how how important 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 easy as possible for everyone that's associated with those procedures and likewise so envision sorry I'm simply I was simply gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and sort of try to get back to everyone so carrying on appearance why do companies pick to main different checking account there are companies out there doing exactly this for particular countries and I've worked in an organization or many organizations doing precisely that I can state it doesn't 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 do not need to and anyone that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I believe people have got so used to we require a new checking account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I believe this is a process that needs looking at it needs changing however eventually individuals are really stuck with what they recognize
with best um change is a hard thing all of us do not like modification um so I think it's simply sort 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 clearly the advantages of having preserving multiple savings account however there's a huge amount of intricacy opts for setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private people so the intricacy is big but I think the sincere answer is change um individuals have not had the ability to change or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to keep track of and this method does present several obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your achievements.
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