Find out more about Papaya Global Guadeloupe ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and dependable method of paying to our 10,000 workers worldwide.}
The advanced international payroll management app enhances my payroll process, saving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Worker Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business provide competitive advantages plans to global workers despite the number of workers in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source regional benefits service providers in every nation, develop local accounts and have a minimum number of staff members.
The HR abilities offered by Global HR include numerous functions such as monitoring vacation time, ensuring compliance, facilitating the process of welcoming brand-new workers and bidding goodbye to departing ones, using a safe online platform for saving workers' files, and supplying assistance for work allow treatments in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall work costs distributed per location, total employment costs per cycle and a lot more.
environments across the globe I provided management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark stated I work across the business managing and building external relationships supporting Business clients and solutions as well as serving as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a pleasure 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 years of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've sort of had a range of different functions on the provider side and also on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely bleak and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business preserve different
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in enough in one nation however when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of reasons most notably guidelines compliance information security and banking rules then there are the sheer numbers they add additional complexity the global Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll design there's frequently an overwhelming variety of various systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or extremely extremely basic there's no genuine consistency framework we're living in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a service spends on international payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of international organizations have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes improperly communicated hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is shipped to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they depend on the essential multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're making payments to workers or otherwise that's a good question I always toss this back and say what is it what doesn't need to be consisted of ideal and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is absolutely crucial but all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to sort of move forward with that it also also to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't 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 frequently split and cut up um ultimately it's payroll is an end-to-end procedure 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 live in and wellness being a growing number of essential to add to type of the level of complexity there's a growing number of benefits being organ or being offered by organizations across the world so once again you're simply wanting to add more and more payments to this already intricate landscape so if you sort 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 real obstacles or real difficult sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding details into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason that we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single most significant liability that any business has from an expense point of view from an effect viewpoint on staff members it is absolutely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental impact on people's wellness and many other factors if people aren't paid uh I've constantly been amazed coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll group might not have been thanked for correctly 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 an essential cycle, and people just observe when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally as well. Therefore, it is essential to make sure that jobs like Wi-Fi Global and other important matters are done correctly. Using the very first Worldwide Payments very first payroll payment solution is an excellent preliminary action towards offering a detailed payroll service for employees worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and checking account required for international payroll are essential consider attaining company 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 planned. Eventually, we don't do it for the appreciation.
anyhow we know 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 simple as possible for everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions imagine getting that many 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 intriguing task attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and really see what was going on and sort of try to get back to everyone so carrying on look why do business choose to main different bank accounts there are organizations out there doing precisely this for specific nations and I have actually operated in a service or many organizations doing precisely that I can say it does not always feel effective and it does create more work I understand we're not intentionally doing that we're not creating extra work for anybody where we do not have to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the requirement I think individuals have got so used to we require a new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a process that requires looking at it needs altering but eventually individuals are very stuck to what they're familiar
with ideal um modification is a tough thing all of us do not like change um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having keeping several savings account however there's a huge amount of intricacy opts for setting up a bank account maintaining it ensuring it can send International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is big however I think the honest response is modification um people haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century approximately there is a lot to keep an eye on and this method does position several difficulties um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I 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 gained another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your achievements.
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