Find out more about Kenya Papaya Global ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and secure and reputable approach of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app improves my payroll procedure, saving me a significant quantity of time every month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Staff member Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies offer competitive benefits bundles to worldwide workers despite the variety of staff members in the business. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional advantages service providers in every nation, create local accounts and have a minimum variety of staff members.
The HR abilities provided by International HR include various functions such as keeping an eye on holiday time, guaranteeing compliance, helping with the process of inviting new employees and bidding farewell to departing ones, providing a secure online platform for keeping employees' files, and offering assistance for work permit procedures in case your staff members require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total work expenses dispersed per place, overall work costs per cycle and far more.
Internationally, I have actually demonstrated leadership and strategic know-how in guiding large-scale populations of over 100,000 staff members across 170 nations. Presently, I am responsible for managing payroll strategies, as pointed out by Mark. My function includes managing and developing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for a lot of influential companies worldwide we provide payroll payments and labor force management to all worker key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good night depending upon where you are in the world it's beautiful to satisfy 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 been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll type 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 kind of like see where everyone originates from and I really 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 dreary and I want I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Global payroll payments as a strategic asset uh we'll also review a recap which should leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and handling them becomes a growing number of intricate Worldwide organizations are looking to discover Solutions and brand-new methods to streamline processes especially from a payroll and cross-border payment standpoint lots of companies preserve separate savings account just for payroll while some have numerous accounts in various nations does it make sense for companies to maintain different bank accounts in some cases in different countries it does but just for payroll exists a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business simplify the episode complex procedures of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in sufficient in one country however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of factors most importantly regulations compliance information security and banking guidelines then there are the large numbers they include further complexity the global Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 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 all over the world in the conventional payroll model there's often a frustrating variety of various systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in big quantities and or really extremely standard there's no genuine consistency structure we're residing in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind whenever I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more a service spends on worldwide payroll the less of an image they see an absence of visibility likewise extends to payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of international companies have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes badly interacted hires and terminations in addition to lack management and system setups and then when you round it all off and the data is shipped to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they depend on the necessary multiple procedures 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 obstacles company face when they're making payments to staff members or otherwise that's an excellent concern I always toss this back and say what is it what does not require to be consisted of ideal 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 amount of time 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 complexity anywhere you look best eventually constructing a knowledge base is definitely critical but everywhere you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to type of move on with that it also too to contribute to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm constantly astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to add to kind of the level of complexity there's a growing number of advantages being organ or being used by services across the world so once again you're simply looking to add more and more payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real obstacles or genuine difficult sort of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would certainly state that the bigger a business 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 actually handling the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we need to produce extra handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and an age that you understand that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you said payroll is the single most significant liability that any company has from a cost perspective from an impact perspective on staff members it is definitely crucial 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 result on individuals's well-being and lots of other aspects if individuals aren't paid uh I have actually constantly been astonished entering this Market sort of the last five to ten years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just observe when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's viewed externally too. For that reason, it is essential to guarantee that jobs like Wi-Fi Global and other essential matters are done properly. Utilizing the first International Payments very first payroll payment service is an excellent initial action towards supplying a comprehensive payroll service for employees worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and savings account required for worldwide payroll are key factors in accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyway 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 everyone that's involved in those processes and likewise so picture sorry I'm just I was just gon na say picture 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 talking about hundreds of thousands potentially Millions imagine getting that numerous 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 certainly be an intriguing job trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and actually see what was going on and kind of shot to get back to everyone so moving on look why do business pick to primary separate bank accounts there are businesses out there doing exactly this for specific countries and I've operated in a company or many organizations doing exactly that I can say it doesn't constantly feel effective 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 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 think lots of factors one is it's the requirement I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly 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 just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I think this is a procedure that requires taking a look at it requires altering however ultimately people are very stuck with what they're familiar
with right um modification is a challenging thing all of us don't like modification um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having preserving several bank accounts however there's a substantial amount of intricacy opts for setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the right user accesses for individual individuals so the intricacy is big but I think the truthful response is change um people have not had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a savings account I think you've struck 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 genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to monitor and this approach does present a number of obstacles um so Johnny could you inform us about those difficulties yeah naturally 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 handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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