Find out more about Papaya Global Contact Telephone Number ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This offers us with a protected and reliable method of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app simplifies my payroll procedure, saving me a significant amount of time each month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Staff member Portal provides employees with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps business offer competitive benefits plans to global staff members regardless of the variety of staff members in the company. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source regional benefits providers in every nation, develop local accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall employment costs distributed per place, total employment costs per cycle and far more.
environments across the globe I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise clients and services in addition to functioning as a consultant for those of you that do not know who papaya International is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential companies in the world we provide payroll payments and workforce management to all employee enters 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 present yourself naturally thank you good morning excellent afternoon good night depending upon where you are in the world it's charming to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually type of had a range of different roles on the provider side and also on the supplier side from a payroll point of view so really anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another couple 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 fascinating and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it is 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 gloomy and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business keep different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical asset uh we'll likewise discuss a wrap-up and that ought to leave his time at the extremely extremely 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 Global labor forces end up being a growing number of common and handling them ends up being more and more intricate Global companies are looking to find Solutions and new ways to streamline procedures especially from a payroll and cross-border payment standpoint many companies preserve different savings account just for payroll while some have numerous accounts in different countries does it make sense for companies to keep separate bank accounts often in different countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies improve the episode complex processes of
Guaranteeing accurate, efficient, and prompt 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 business forecast payroll costs to optimize working capital, and find how simplifying worldwide payroll payments can change them from a burdensome job into a strategic asset.
Handling payroll globally is an overwhelming task due to numerous guidelines, compliance requirements, information security issues, and banking rules. The sheer variety of employees and companies adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems often result in manual processes, information silos, and a lack of integration, causing inconsistencies and ineffectiveness. In spite of living in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to supply insights and services to simplify and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more a business invests in worldwide payroll the less of a picture they see a lack of exposure likewise extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of international companies have revealed 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 due to time reporting bad HCM data data entry errors poorly communicated hires and terminations in addition to absence management and system setups and after that when you round all of it off and the data is delivered to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they rely on the necessary 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 obstacles organization face when they're making payments to staff members or otherwise that's a good question I constantly toss this back and state what is it what doesn't require to be consisted of ideal 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 nation 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 consumer's own in-country account so there's intricacy wherever you look best ultimately developing a knowledge base is definitely critical however all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link in 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 permitting us to kind of move forward with that it also also to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely crucial that payroll and finance teams work more detailed together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you walk 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 a market accept that why our payroll and payments so often 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 any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of crucial to contribute to kind of the level of intricacy there's more and more benefits being organ or being offered by organizations throughout the world so again you're simply seeking to add increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real difficulties or real tough sort of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding information into the next function as it were that's actually handling the payment side of things but you know 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 at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason why we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any company has from an expense perspective from an effect viewpoint on staff members it is definitely important that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive impact on individuals's wellness and lots of other aspects if individuals aren't paid uh I've always been amazed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just observe when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's viewed externally also. Therefore, it is essential to make sure that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the first Global Payments very first payroll payment service is an excellent preliminary step towards offering an extensive payroll option for employees worldwide. Standardization, global procedures, and minimizing the number of tools, platforms, and savings account necessary for worldwide payroll are essential consider attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things don't go as planned. Ultimately, we do not do it for the thankfulness.
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 easy as possible for everybody that's associated with those processes and likewise so imagine sorry I'm simply I was just gon na say think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and in fact see what was going on and type of try to return to everyone so proceeding look why do companies choose to main separate checking account there are organizations out there doing precisely this for specific countries and I've worked in a service or numerous services doing precisely that I can say it doesn't always feel efficient and it does produce more work I understand we're not purposely doing that we're not creating additional work for anybody where we do not have to and anyone that's handling 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 quantity that we are I think lots of reasons one is it's the requirement I believe individuals have actually got so utilized to we require a new savings account we open an entity and appropriately 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 just been the standard and the norm the people have actually adopted 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 think this is a process that requires taking a look at it requires changing but eventually individuals are very stuck with what they're familiar
with ideal um modification is a challenging thing we all don't like change um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having keeping multiple savings account however there's a big quantity of intricacy chooses setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private people so the complexity is big but I think the sincere answer is change um individuals haven't had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does present numerous challenges um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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