Find out more about Papaya Global Telephone Number ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and secure and reputable technique of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll procedure, saving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Employee Website offers staff members with the capability to access and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to international workers despite the variety of employees in the business. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source local benefits service providers in every nation, produce local accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, total work expenses dispersed per location, total employment costs per cycle and far more.
environments around the world I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and structure external relationships supporting Enterprise clients and options along with serving as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for many prominent companies on the planet we supply payroll payments and labor force management to all staff member enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon great evening depending upon where you are in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated 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 have actually sort of had a range of various functions on the provider side and likewise on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort 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 kind of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely very gloomy and I want I was somewhere else at this moment in time fine so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies preserve different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving different savings account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most significantly regulations compliance data security and banking rules then there are the large numbers they add more complexity the global Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll model there's typically an overwhelming number of various systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in big quantities and or extremely very basic there's no real consistency framework we're living in an age 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 which simply blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization invests in global payroll the less of an image they see a lack of visibility likewise extends to payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of global services have expressed 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 because of time reporting bad HCM data data entry mistakes improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is delivered to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they rely on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges service face when they're paying to employees or otherwise that's an excellent question I always 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 varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity wherever you look right eventually building a knowledge base is absolutely important but all over you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to kind of move on with that it likewise as well 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 imperative that payroll and finance teams work closer together than ever um I'm constantly astonished when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation 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 any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to contribute to sort of the level of intricacy there's more and more advantages being organ or being provided by companies throughout the world so again you're just aiming to include more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine challenges or genuine difficult kind of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would definitely state that the bigger 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 groups feeding information into the next function as it were that's really managing the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we require to develop extra handoffs while doing sos that we operate in they just make them more timely they make them less effective and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any service has from an expense point of view from an impact perspective on workers it is absolutely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging result on individuals's well-being and numerous other factors if individuals aren't paid uh I've constantly been surprised entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only notice when things go wrong. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's perceived externally as well. For that reason, it is important to guarantee that tasks like Wi-Fi Worldwide and other crucial matters are done properly. Using the very first Global Payments very first payroll payment service is a great initial step towards providing a thorough payroll service for staff members worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and checking account needed for global payroll are essential factors in achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyhow we understand 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 everybody that's involved in those processes and also so imagine sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions think of getting that numerous thank you keeps in mind um I imply 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 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 try to browse them and really see what was going on and kind of try to get back to everybody so carrying on look why do companies choose to primary separate savings account there are businesses out there doing precisely this for specific countries and I have actually worked in a business or lots of services doing exactly that I can say it doesn't constantly feel efficient and it does create more work I know we're not intentionally doing that we're not producing extra work for anyone where we do not have to and anybody that's managing 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 amount that we are I think many factors one is it's the requirement I believe individuals have got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it needs changing but ultimately individuals are really stuck to what they recognize
with ideal um change is a challenging thing we all do not like modification um so I believe it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having keeping several savings account however there's a substantial quantity of complexity opts for setting up a savings account maintaining it ensuring it can send International transfers ensuring it's established with the ideal user accesses for specific individuals so the intricacy is big however I believe the sincere response is change um individuals have not had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century approximately there is a lot to keep an eye on and this method does position several difficulties um so Johnny might you tell us about those challenges 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 tasks on one platform. It seems like our CFO has acquired 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 using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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