Find out more about Papaya Global Sao Tome & Principe ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to handling payments. This provides us with a safe and dependable method of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Employee Portal
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax statements and work documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to international employees no matter the number of employees in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional benefits suppliers in every country, create regional accounts and have a minimum number of employees.
The HR abilities supplied by Worldwide HR include different functions such as keeping an eye on holiday time, ensuring compliance, assisting in the procedure of inviting new employees and bidding farewell to departing ones, offering a protected online platform for keeping employees' documents, and providing support for work allow procedures in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, total work expenses dispersed per area, total work costs per cycle and a lot more.
Globally, I have actually demonstrated management and strategic proficiency in guiding large-scale populations of over 100,000 staff members across 170 nations. Currently, I are accountable for supervising payroll strategies, as discussed by Mark. My role includes handling and establishing external collaborations, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on providing payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to meet you and thank you for your valuable time. As Ian pointed out, 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 solutions for the past seven years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually sort of had a variety of different functions on the company side and also on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everybody another number 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 rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually 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 extremely very bleak and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic possession uh we'll likewise review a recap which should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more typical and handling them ends up being increasingly more complicated Worldwide organizations are aiming to discover Solutions and new ways to streamline processes specifically from a payroll and cross-border payment perspective many companies maintain separate checking account just for payroll while some have numerous accounts in different nations does it make good sense for companies to keep different checking account often in various nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies simplify the episode complex processes of
making payroll payments properly effectively safely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property 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 complex for a range of factors most importantly policies compliance data security and banking guidelines then there are the large numbers they add further complexity the global Workforce is currently 3 and a half billion individuals by 2030 it's approximated 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 consider that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll design there's typically a frustrating variety of different systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or really very basic there's no genuine consistency structure we're residing in an era of tech however 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 which just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a company spends on global payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal nearly half of global services have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors improperly communicated hires and terminations as well as absence management and system setups and then when you round all of it off and the data is delivered to the wrong location the typical 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 don't run efficiently if they depend on the needed multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to workers or otherwise that's a great concern I constantly toss this back and say what is it what does not need to be included best and what does
it require to be considered there's varying 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 customer's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is definitely vital but all over you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 allowing us to type of move forward with that it also also to contribute to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely crucial that payroll and financing groups work more detailed together than ever um I'm constantly astonished when people say I have actually divided payroll and payment um if you stroll 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 frequently split and cut up um eventually it's payroll is an end-to-end procedure 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-day world places a high value on well-being and the settlement landscape is becoming increasingly complex. Services are continually introducing new benefits and payment choices, which contributes to the general complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can result in inadequacies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's technologically innovative period, there's no justification for keeping cumbersome treatments. Payroll, the business's biggest expenditure, must be processed correctly and on time. Even slight delays can negatively impact staff members' wellness and have far-reaching consequences. Therefore, it's crucial to prioritize precise and prompt payments.
The payroll group might not have been thanked for correctly processing payroll during 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 essential cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's viewed externally also. For that reason, it is important to ensure that tasks like Wi-Fi International and other vital matters are done correctly. Utilizing the first Global Payments very first payroll payment solution is a terrific preliminary action towards offering a thorough payroll service for workers worldwide. Standardization, global processes, and reducing the number of tools, platforms, and savings account necessary for global payroll are essential consider achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things do not go as prepared. Eventually, we do not do it for the gratitude.
anyway we know 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 everyone that's involved in those processes and likewise so picture sorry I'm just I was just gon na say imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and sort of try to get back to everybody so proceeding look why do business choose to primary separate checking account there are services out there doing precisely this for particular nations and I have actually worked in an organization or numerous businesses doing exactly that I can say it doesn't constantly feel efficient and it does create more work I know we're not purposely doing that we're not producing additional work for anybody where we do not have to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many factors one is it's the standard I believe people have got so used to we need a brand-new bank account we open an entity and appropriately so you need 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 embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I believe this is a procedure that needs taking a look at it needs changing however eventually people are really stuck to what they're familiar
with right um modification is a tough thing we all don't like change 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 certainly the advantages of having preserving numerous checking account but there's a big amount of intricacy chooses setting up a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the intricacy is big but I think the truthful response is modification um individuals have not had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides 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 a component of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century or two there is a lot to keep track of and this technique does pose a number of challenges um so Johnny might you tell us about those challenges yeah naturally so there's a variety right there is so
I simply did you switched 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 Global staff members you deserve a corner workplace with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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