Find out more about Papaya Global Contact Number For Pension Data To Export ... 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 actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and secure and trustworthy approach of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app improves my payroll process, conserving me a significant quantity of time each month. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
The Staff member Portal provides employees with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to worldwide workers despite the variety of staff members in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits providers in every country, create regional accounts and have a minimum number of workers.
The HR abilities offered by Worldwide HR incorporate different functions such as keeping track of vacation time, making sure compliance, helping with the process of welcoming new workers and bidding goodbye to leaving ones, using a secure online platform for keeping employees' files, and offering support for work allow treatments in case your employees need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall employment expenses distributed per location, overall work expenses per cycle and much more.
environments across the globe I offered management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work across business managing and structure external relationships supporting Business customers and options along with functioning as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential companies worldwide we supply payroll payments and labor force management to all worker enters over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon good evening depending on where you remain in the world it's beautiful to meet 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've remained in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually kind of had a range of various functions on the company side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everyone another number of uh well one of 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 rather intriguing 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 everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really very gloomy and I want I was elsewhere at this moment in time okay 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 maintain different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical 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 complex for a range of factors most importantly guidelines compliance data security and banking guidelines then there are the large numbers they include further complexity the international Workforce is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll model there's often an overwhelming variety of different systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or really extremely fundamental there's no real consistency framework we're living in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in global payroll the less of an image they see a lack of exposure also extends to payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of global organizations have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors improperly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the information is shipped to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the essential numerous procedures systems and partners it is simply 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 employees or otherwise that's an excellent question I constantly throw this back and state what is it what does not need to be included right 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 need to pay from the customer's own in-country account so there's intricacy wherever you look ideal ultimately developing a knowledge base is absolutely critical however all over you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to type of progress with that it also as well to contribute to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm always amazed when individuals state I've divided 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 divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to contribute to type of the level of intricacy there's more and more advantages being organ or being offered by organizations throughout the world so once again you're just looking to add more and more payments to this already complicated 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 genuine challenges or real challenging kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding information into the next function as it were that's in fact managing the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and an era that you understand that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any service has from a cost point of view from an impact viewpoint on employees it is definitely important 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 most significant detrimental result on individuals's wellness and lots of other aspects if people aren't paid uh I've constantly been surprised entering this Market sort of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people only notice when things go wrong. However, when things go right, it's seen as just a routine task. This is how it's viewed externally as well. Therefore, it is important to ensure that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Using the first Global Payments first payroll payment service is a terrific preliminary step towards offering an extensive payroll service for workers worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and savings account essential for international payroll are crucial factors in achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyway 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 everyone that's involved in those procedures and also so picture sorry I'm just I was simply gon na state picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job 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 check out them and in fact see what was going on and kind of try to get back to everybody so moving on look why do companies pick to primary separate checking account there are services out there doing exactly this for specific countries and I have actually worked in a business or numerous organizations doing exactly that I can state it does not always feel effective and it does create more work I know we're not intentionally doing that we're not producing extra work for any person where we don't have to and any person 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 amount that we are I think lots of reasons one is it's the requirement I believe individuals have got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have actually embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I think this is a procedure that requires taking a look at it requires altering however eventually people are really stuck to what they recognize
with right um change is a tough thing we all do not like modification um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having keeping several savings account however there's a big quantity of intricacy goes with setting up a bank account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private people so the intricacy is substantial however I think the truthful answer is change um individuals haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I believe it is understanding you understand and there is a component of resistance to alter however we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to track and this method does present a number of obstacles um so Johnny could you inform us about those obstacles yeah of course 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 feels like our CFO has acquired another CFO, and with this boosted ability, I have successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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