Find out more about Papaya Global Contact Number ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and secure and dependable approach of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app streamlines my payroll process, saving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Worker Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to global employees despite the number of employees in the company. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional benefits companies in every country, produce regional accounts and have a minimum variety of workers.
The HR abilities offered by International HR include various functions such as monitoring holiday time, guaranteeing compliance, assisting in the process of welcoming brand-new staff members and bidding farewell to leaving ones, providing a protected online platform for keeping workers' files, and offering assistance for work permit treatments in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, total employment costs distributed per area, overall employment expenses per cycle and a lot more.
environments around the world I supplied management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and solutions along with acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different roles 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 fine thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I really 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 really dreary and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll also review a recap which needs to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more common and managing them becomes increasingly more intricate Worldwide organizations are aiming to discover Solutions and new ways to enhance processes specifically from a payroll and cross-border payment perspective numerous organizations maintain separate savings account just for payroll while some have several accounts in different nations does it make good sense for business to keep different savings account often in different nations it does but just for payroll is there a better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies enhance the episode complex procedures of
Making sure precise, effective, and timely payroll payments is a complex difficulty for organizations running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, learn how companies anticipate payroll costs to optimize working capital, and find how simplifying global payroll payments can change them from a challenging task into a tactical possession.
Handling payroll globally is a challenging task due to numerous guidelines, compliance requirements, data security issues, and banking rules. The large variety of employees and organizations adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and a lack of integration, causing inconsistencies and inefficiencies. In spite of residing in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to provide insights and solutions to simplify and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization invests in worldwide payroll the less of an image they see an absence of exposure also reaches payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide companies have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors badly communicated hires and terminations along with absence management and system setups and after that when you round all of it off and the information is shipped to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a great question I always throw this back and state what is it what doesn't require to be consisted of best and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 ideal ultimately building a knowledge base is definitely critical but all over you look with payroll payment they are like very payments no if however some children 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 believe there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to kind of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is definitely necessary that payroll and financing groups work more detailed together than ever um I'm always astonished when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation 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 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 live in and well-being being more and more important to add to type of the level of complexity there's more and more advantages being organ or being provided by businesses across the world so once again you're simply aiming to include more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine obstacles or genuine difficult kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding details into the next function as it were that's really handling the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we need to create extra handoffs in the processes that we run in they just make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any business has from a cost point of view from an effect 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 destructive impact on people's wellness and numerous other factors if individuals aren't paid uh I've constantly been astonished coming into this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only observe when things fail. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally also. Therefore, it is important to ensure that jobs like Wi-Fi Worldwide and other important matters are done properly. Using the very first Worldwide Payments first payroll payment solution is a fantastic preliminary step towards offering an extensive payroll solution for staff members worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and bank accounts required for international payroll are key factors in attaining company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things do not go as planned. Eventually, we don't do it for the appreciation.
anyway we know how how important 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 everybody that's associated with those processes and likewise so picture sorry I'm just I was just gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions think of getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying to clean all those up for sure oh absolutely I can't imagine 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 really see what was going on and kind of try to return to everybody so moving on look why do business pick to main different checking account there are services out there doing precisely this for particular countries and I've operated in an organization or many businesses doing exactly that I can state it does not always feel efficient and it does develop more work I know we're not deliberately doing that we're not developing additional work for any person where we don't have to and anybody that's managing that procedure 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 numerous reasons one is it's the requirement I think individuals have actually got so used to we need a new checking account we open an entity and rightly so you require 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 norm the people have actually embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires changing but eventually people are extremely stuck with what they recognize
with right um modification is a hard thing we all do not like change um so I think it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having preserving multiple checking account but there's a huge quantity of complexity chooses setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual individuals so the complexity is substantial but I think the honest answer is change um individuals haven't been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on 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 difficulties yeah obviously so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you should have a corner office with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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