Find out more about Papaya Global Seychelles ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to handling payments. This provides us with a safe and dependable technique of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Employee Portal offers workers with the ability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists business provide competitive benefits bundles to worldwide staff members despite the number of workers in the company. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source regional benefits service providers in every country, produce local accounts and have a minimum variety of staff members.
The HR abilities provided by International HR incorporate various functions such as keeping an eye on trip time, making sure compliance, assisting in the procedure of welcoming new employees and bidding farewell to departing ones, providing a secure online platform for storing workers' documents, and supplying support for work allow procedures in case your workers need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall work expenses distributed per location, overall employment expenses per cycle and a lot more.
Globally, I have demonstrated management and strategic knowledge in guiding massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for managing payroll methods, as pointed out by Mark. My role includes managing and developing external collaborations, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
company to make the time 100 list for many prominent companies worldwide we provide payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon excellent evening depending on where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the complexity the problem in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've type of had a range of different roles on the service provider side and likewise on the vendor side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everybody comes 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 really gloomy and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business preserve different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic property uh we'll likewise discuss a wrap-up and that should leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of common and managing them ends up being a growing number of intricate Worldwide companies are looking to discover Solutions and new ways to simplify procedures particularly from a payroll and cross-border payment standpoint lots of organizations keep different savings account just for payroll while some have multiple accounts in various nations does it make sense for business to preserve different checking account sometimes in different nations it does however just for payroll is there a better method what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational business enhance the episode complex processes of
Ensuring precise, efficient, and timely payroll payments is a complex challenge for businesses running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, find out how companies anticipate payroll expenses to optimize working capital, and discover how simplifying global payroll payments can transform them from a challenging job into a strategic asset.
Managing payroll globally is a challenging task due to various regulations, compliance requirements, data security issues, and banking rules. The large variety of workers and businesses contributes to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and a lack of integration, leading to inconsistencies and inadequacies. In spite of living in an age of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to offer insights and solutions to simplify and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see an absence of presence also reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide businesses 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 because of time reporting poor HCM information data entry mistakes badly interacted hires and terminations along with lack management and system setups and then when you round everything off and the data is shipped to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they rely on the required numerous 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 difficulties business face when they're making payments to staff members or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be included right 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 amount of time there's payment capabilities 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 customer's own in-country account so there's intricacy anywhere you look right eventually developing a knowledge base is absolutely crucial however all over you look with payroll payment they are like super 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 in 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 kind of move on with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing groups work more detailed together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of important to add to sort of the level of complexity there's a growing number of advantages being organ or being offered by services across the world so once again you're simply looking to include a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real difficulties or real tough kind of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of years I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding information into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we run in they simply make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason why we are still making this as challenging as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any organization has from a cost perspective from an impact point of view on staff members it is absolutely critical that it's done correctly and on time so what we indicate 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 harmful impact on people's well-being and lots of other factors if individuals aren't paid uh I've constantly been astonished entering this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm uncertain anyone on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle we all find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done correctly so leveraging the first Global Payments first payroll payment solution is a fantastic initial step um providing an end-to-end payroll option for your staff members internationally again I believe is another huge um procedure again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely essential to success success of companies and decreasing the number of tools platforms and bank accounts they require for their International payroll too couldn't 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 thousand of 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 problems where things have not gone rather where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyway we understand how how essential a role 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 also so picture sorry I'm just I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions think of getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and really see what was going on and type of try to return to everyone so moving on appearance why do business choose to primary separate bank accounts there are companies out there doing exactly this for particular countries and I've worked in a business or many organizations doing precisely that I can say it doesn't always feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating extra work for anyone where we do not need to and any person 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 lots of factors one is it's the requirement I think people have actually got so used to we need a 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 believe it's just been the requirement and the standard the people have embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I believe this is a procedure that requires looking at it requires changing but ultimately people are very stuck to what they're familiar
with right um change is a difficult thing we all don't like change um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having maintaining several savings account but there's a big quantity of intricacy opts for establishing a checking account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the complexity is huge however I think the sincere answer is modification um people have not been able to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter however we've always done it that way is no genuine excuse for not looking at the the advantages 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 technique does position numerous difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this improved ability, I have effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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