Find out more about Papaya Global Support Phone Number ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a secure and trusted approach of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Worker Website supplies employees with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps companies offer competitive advantages bundles to worldwide workers regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source regional advantages providers in every nation, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total employment costs dispersed per area, total employment costs per cycle and a lot more.
environments around the world I provided management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business managing and building external relationships supporting Business clients and solutions as well as serving as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually focused on payroll and payment options for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I've type of had a range of various functions on the supplier side and likewise on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds approximately to join all of us 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 currently just to hear where everybody is um it's nice to to kind of like see where everyone originates 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 raining here it's very extremely uninspiring and I want I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll also go over a recap which should leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more typical and handling them ends up being a growing number of complicated International organizations are wanting to find Solutions and new methods to streamline procedures especially from a payroll and cross-border payment viewpoint many companies preserve different bank account just for payroll while some have multiple accounts in various countries does it make sense for business to maintain different savings account often in various countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets also known as virtual wallets play in helping international companies streamline the episode complex processes of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll checking account how business properly anticipate their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most importantly guidelines compliance information security and banking guidelines then there are the large numbers they add further complexity the global Workforce is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the conventional payroll model there's often an overwhelming number of different systems leading to lengthy manual processes and silos the variety of Combinations could be non-existent in large quantities and or extremely extremely basic there's no genuine consistency framework we're living in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that 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 Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more an organization spends on global payroll the less of a picture they see an absence of visibility also encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide organizations have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors improperly interacted hires and terminations as well as lack management and system setups and then when you round all of it off and the information is delivered to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they count on the necessary multiple 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 challenges service face when they're making payments to workers or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't require to be included ideal and what does
it need to be thought about 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 abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy any place you look best eventually constructing a knowledge base is absolutely crucial 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 in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to type of move on with that it likewise as well to add to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely important that payroll and finance teams work better together than ever um I'm constantly surprised when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation 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 process it's the point of information collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the compensation landscape is becoming progressively intricate. Companies are continuously introducing brand-new advantages and payment choices, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can cause ineffectiveness and bottlenecks. In my opinion, this doesn't have to be the case. In today's technically sophisticated age, there's no reason for preserving troublesome treatments. Payroll, the company's biggest cost, must be processed properly and on time. Even minor hold-ups can negatively affect workers' wellness and have significant consequences. Therefore, it's crucial to prioritize precise and timely payments.
The payroll team may not have 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 staff members or not. Payroll is an important cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally too. Therefore, it is necessary to guarantee that jobs like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment solution is a great initial step towards supplying a thorough payroll option for staff members worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and savings account necessary for global payroll are key consider accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as prepared. Eventually, we do not do it for the thankfulness.
anyway we know 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 procedures and also so picture sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task 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 need days of the week to attempt to browse them and really see what was going on and type of shot to get back to everyone so moving on look why do companies choose to primary different bank accounts there are services out there doing exactly this for particular nations and I have actually operated in a service or lots of organizations doing exactly that I can say it does not always feel effective and it does develop more work I understand we're not deliberately doing that we're not developing extra work for anybody where we do not need to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of factors one is it's the requirement I believe people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a process that requires taking a look at it requires changing but eventually people are very stuck with what they recognize
with ideal um change is a difficult thing all of us do not like change um so I believe it's just type 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 comprehend certainly the benefits of having maintaining multiple checking account however there's a big amount of complexity chooses establishing a bank account keeping it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the intricacy is huge however I believe the sincere answer is change um people haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter but 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 proceeding and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to keep an eye on and this approach does present several obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I recently made a modification to our Business 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 gotten another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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