Find out more about Papaya Global Payroll Customer Service ... 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 gotten a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and secure and dependable approach of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app enhances my payroll process, saving me a significant quantity of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
The Worker Portal supplies workers with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to global workers despite the variety of employees in the business. The company can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional advantages suppliers in every nation, create local accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total employment expenses distributed per place, overall employment expenses per cycle and much more.
Globally, I have shown leadership and strategic competence in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for supervising payroll methods, as discussed by Mark. My role includes managing and establishing external collaborations, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for a lot of prominent business in the world we provide payroll payments and workforce management to all employee types in 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 introduce yourself naturally thank you good morning excellent afternoon great night depending on where you are in the world it's beautiful to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've kind of had a variety of different roles on the provider side and likewise on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody 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 remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely gloomy and I want I was somewhere else 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 looking at the difficulty years of handling International payroll why business preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll likewise review a wrap-up and that needs to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of typical and handling them becomes more and more intricate Global organizations are aiming to discover Solutions and brand-new ways to improve processes specifically from a payroll and cross-border payment perspective numerous companies keep separate savings account just for payroll while some have numerous accounts in different countries does it make sense for companies to maintain separate savings account often in different countries it does but just for payroll is there a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies enhance the episode complex processes of
making payroll payments accurately efficiently securely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most importantly guidelines compliance data security and banking guidelines then there are the large numbers they add further complexity the worldwide Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the standard payroll model there's typically a frustrating variety of different systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in big amounts and or very very standard there's no genuine consistency structure we're residing in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more a business spends on international payroll the less of a photo they see a lack of presence 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 businesses have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors improperly interacted hires and terminations in addition to lack management and system configurations and after that when you round all of it off and the information is delivered to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they count on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be included right and what does
it need to be thought about there's varying Bank details 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity any place you look right eventually building a knowledge base is definitely crucial but everywhere you look with payroll payment they are like incredibly 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 acknowledgment that payroll payments are definitely fundamental and innovation is allowing us to kind of move on with that it also too to add to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work better together than ever um I'm always impressed when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation 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 procedure it's the point of information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on wellness and the payment landscape is becoming progressively complex. Organizations are continually introducing new advantages and payment alternatives, which adds to the general intricacy. Big corporations often divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my opinion, this doesn't have to hold true. In today's technically sophisticated period, there's no justification for maintaining cumbersome treatments. Payroll, the company's most significant cost, must be processed properly and on time. Even slight hold-ups can negatively impact employees' well-being and have significant effects. For that reason, it's critical to prioritize precise and timely payments.
The payroll group might not have actually been thanked for correctly processing payroll throughout 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 a crucial cycle, and people just see when things go wrong. However, when things go right, it's seen as just a routine job. This is how it's viewed externally as well. For that reason, it is essential to ensure that tasks like Wi-Fi International and other crucial matters are done correctly. Utilizing the first Global Payments first payroll payment service is a fantastic preliminary action towards providing a comprehensive payroll option for employees worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and bank accounts needed for global payroll are key factors in attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things do not go as planned. Ultimately, we do not do it for the gratitude.
anyhow we know how how essential a role 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 easy as possible for everyone that's associated with those processes and likewise so think of sorry I'm just I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and really see what was going on and type of shot to return to everyone so proceeding look why do companies choose to main different bank accounts there are companies out there doing exactly this for particular nations and I have actually worked in a company or numerous businesses doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not developing extra work for anybody where we do not have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I think people have got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I believe this is a procedure that requires looking at it needs changing but ultimately individuals are very stuck with what they recognize
with right um change is a difficult thing we all don't like modification um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having preserving numerous bank accounts but there's a big amount of intricacy opts for setting up a savings account maintaining it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for individual people so the intricacy is big but I think the honest answer is change um people haven't been able to change or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be identified to be the next Century or so there is a lot to monitor and this technique does posture numerous challenges um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I simply did you changed our Enterprise 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 Worldwide employees you should have a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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