Find out more about Papaya Global Support Number ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a protected and reliable technique of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, conserving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
The Worker Portal supplies staff members with the capability to access and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to global employees regardless of the variety of workers in the company. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source local benefits companies in every nation, create regional accounts and have a minimum number of staff members.
The HR capabilities provided by Global HR include numerous functions such as keeping an eye on holiday time, making sure compliance, facilitating the process of welcoming new employees and bidding goodbye to leaving ones, providing a safe online platform for keeping workers' files, and supplying assistance for work allow procedures in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, overall work costs dispersed per area, total employment costs per cycle and far more.
environments around the world I supplied leadership and strategy 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 across business handling and building external relationships supporting Enterprise customers and options along with acting as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential companies on the planet we provide payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good evening depending upon where you remain in the world it's beautiful to fulfill 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 have actually remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've kind of had a range of different roles on the company side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely dreary and I wish I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is especially helpful for global organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate checking account for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how companies properly forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in adequate in one country but when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most significantly policies compliance information security and banking rules then there are the sheer numbers they add further complexity the international Workforce is presently 3 and a half billion individuals by 2030 it's approximated 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 consider that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll design there's frequently a frustrating variety of various systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely extremely basic there's no real consistency framework we're residing in a period 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 often with pen and paper and that just blows my mind whenever I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services state 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 international payroll the less of a picture they see a lack of presence likewise extends to payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global businesses have expressed 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 due to time reporting bad HCM information data entry mistakes badly communicated hires and terminations along with lack management and system configurations and then when you round it all off and the data is shipped to the wrong place the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they count on the needed several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're making payments to staff members or otherwise that's a great concern I constantly throw this back and state what is it what doesn't need to be consisted of ideal and what does
it need 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 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 intricacy any place you look right eventually building a knowledge base is absolutely critical but everywhere you look with payroll payment they are like extremely payments no if but some children 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 acknowledgment that payroll payments are definitely fundamental and technology is enabling us to type of progress with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely important that payroll and financing teams work closer together than ever um I'm always surprised 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 split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on well-being and the settlement landscape is ending up being increasingly complex. Organizations are continuously introducing brand-new advantages and payment choices, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this does not need to hold true. In today's technologically sophisticated period, there's no justification for preserving cumbersome procedures. Payroll, the company's biggest expenditure, must be processed correctly and on time. Even minor hold-ups can adversely affect workers' well-being and have significant effects. For that reason, it's critical to focus on precise and timely payments.
The payroll team may not have 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 a crucial cycle, and individuals only observe when things fail. However, when things go right, it's seen as simply a routine task. This is how it's perceived externally as well. Therefore, it is vital to ensure that jobs like Wi-Fi Global and other vital matters are done properly. Using the first International Payments very first payroll payment service is a great preliminary step towards supplying a thorough payroll solution for employees worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and savings account necessary for international payroll are crucial factors in accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things do not go as planned. Ultimately, we don't do it for the gratitude.
anyhow we understand how how crucial 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 everyone that's associated with those processes and also so envision sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions imagine getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and sort of try to get back to everybody so proceeding appearance why do companies choose to primary separate savings account there are services out there doing exactly this for particular nations and I've worked in a service or numerous companies doing precisely that I can state it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not producing extra work for anybody where we do not have to and anyone that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think 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 think individuals have actually got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I think this is a process that needs looking at it requires changing however eventually individuals are extremely stuck to what they recognize
with right um change is a tough thing we all do not like change um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having keeping several bank accounts however there's a huge quantity of complexity goes with setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the complexity is big however I believe the sincere response is modification um individuals haven't had the ability to change or have not had always the understanding to actually make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might almost be determined to be the next Century or two there is a lot to track and this method does posture a number of obstacles um so Johnny could you tell us about those challenges yeah obviously so there's a range right there is so
I just did you switched our Business 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 Global employees you deserve a corner office with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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