Find out more about Papaya Global Help Contact Number ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and reputable method of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Staff member Portal supplies staff members with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to worldwide employees despite the variety of workers in the company. The company can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every country, create local accounts and have a minimum number of employees.
The HR capabilities provided by International HR incorporate various functions such as keeping an eye on getaway time, making sure compliance, assisting in the process of inviting brand-new workers and bidding goodbye to leaving ones, providing a safe and secure online platform for storing workers' documents, and offering assistance for work permit treatments in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall work expenses dispersed per area, total employment costs per cycle and much more.
environments around the world I offered management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across the business handling and structure external relationships supporting Business customers and services along with acting as an advisor for those of you that don't understand who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for a lot of influential business worldwide we supply payroll payments and workforce management to all worker types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon great night depending upon where you remain in the world it's beautiful 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 have actually remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of different functions on the supplier side and likewise on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 raining here it's extremely extremely bleak and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical possession uh we'll likewise go over a wrap-up and that needs to leave his time at the very very 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 Global labor forces become increasingly more typical and managing them ends up being more and more complex Global companies are seeking to find Solutions and new ways to simplify procedures especially from a payroll and cross-border payment standpoint many companies preserve separate checking account just for payroll while some have multiple accounts in different countries does it make good sense for companies to keep different bank accounts in some cases in different countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international companies simplify the episode complex processes of
making payroll payments precisely effectively securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one nation but when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most importantly regulations compliance data security and banking rules then there are the sheer numbers they add further intricacy the international Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing worldwide in the conventional payroll model there's typically a frustrating number of various systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in large amounts and or really very basic there's no genuine consistency structure we're living in an era of tech however payroll has actually 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 simply blows my mind every 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 companies state they have Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more a service invests in worldwide payroll the less of a picture they see a lack of visibility also extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of global businesses have actually revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes badly communicated hires and terminations in addition to absence management and system configurations and then when you round all of it off and the information is shipped to the incorrect location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they depend on the needed several 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 difficulties service face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what does not need to be included ideal and what does
it need to be thought about there's differing 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 have to pay from the client's own in-country account so there's intricacy any place you look right eventually constructing a knowledge base is absolutely vital but all over you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind 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 allowing us to kind of progress with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely imperative that payroll and finance groups work more detailed together than ever um I'm constantly astonished when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately 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 also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on well-being and the settlement landscape is becoming increasingly detailed. Services are continuously presenting brand-new benefits and payment alternatives, which contributes to the total complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my viewpoint, this does not need to hold true. In today's technologically advanced period, there's no justification for keeping cumbersome procedures. Payroll, the business's greatest cost, should be processed correctly and on time. Even slight hold-ups can adversely impact workers' wellness and have significant effects. Therefore, it's crucial to focus on accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle all of us hear about it when it fails everybody 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 also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment option is a great first step um offering an end-to-end payroll service for your employees worldwide once again I believe is another huge um procedure once again aligning and ensuring you have standardization Global processes all of those things are definitely essential to success success of companies and lowering the number of tools platforms and savings account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I do not think 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 everybody that's involved in those procedures and also so envision sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of shot to get back to everybody so carrying on appearance why do companies select to primary separate checking account there are organizations out there doing exactly this for specific nations and I have actually worked in a company or lots of businesses doing precisely that I can state it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not producing additional work for anybody where we do not have to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe lots of factors one is it's the standard I think individuals have actually got so used to we require a brand-new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs changing however ultimately individuals are very stuck to what they're familiar
with ideal um change is a challenging thing we all do not like change 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 things um I understand clearly the advantages of having maintaining several savings account but there's a big amount of complexity opts for establishing a savings account keeping it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is huge but I think the truthful answer is modification um people haven't been able to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter however we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be determined to be the next Century approximately there is a lot to track and this approach does pose several difficulties 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 change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements.
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