Find out more about Papaya Global Contact Number South Africa ... 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 gotten a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and trusted method of paying to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll process, saving me a significant amount of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Worker Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and employment documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive benefits plans to worldwide employees despite the number of employees in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source local advantages service providers in every country, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall work costs distributed per place, total work expenses per cycle and a lot more.
environments across the globe I supplied management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise customers and options as well as functioning as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for most influential business on the planet we supply payroll payments and labor force management to all worker key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good night depending on where you remain 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 market for over 10 years and specifically working on the payroll and payment sector for over seven 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 genuine go at that over the last five or six years where I've kind of had a range of different roles on the supplier side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really 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 really uninspiring and I want I was elsewhere 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 Global payroll why companies preserve different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly useful for worldwide organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how business properly forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a variety of factors most notably policies compliance information security and banking rules then there are the large numbers they add more complexity the international Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals 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 around the world in the conventional payroll design there's frequently an overwhelming number of various systems leading to lengthy manual processes and silos the variety of Combinations could be non-existent in large amounts and or really extremely standard there's no real consistency framework we're living in an age of tech however payroll has been slow 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 each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a service spends on global payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide companies have actually revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes improperly communicated hires and terminations along with absence management and system setups and after that when you round all of it off and the information is delivered to the incorrect location the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend 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 obstacles service face when they're paying to workers or otherwise that's a good concern I constantly throw this back and state what is it what doesn't require to be included right 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 nation 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 customer's own in-country account so there's complexity wherever you look right eventually developing a knowledge base is definitely important but all over you look with payroll payment they resemble very payments no if however some infants 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 think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to kind of move on with that it also too to add to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely necessary that payroll and finance teams work better together than ever um I'm constantly impressed 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 profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on wellness and the payment landscape is ending up being significantly complex. Services are continuously introducing new benefits and payment options, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my opinion, this doesn't have to be the case. In today's highly advanced period, there's no validation for keeping troublesome treatments. Payroll, the company's most significant expenditure, should be processed correctly and on time. Even minor hold-ups can negatively affect employees' wellness and have significant repercussions. Therefore, it's vital to prioritize precise and timely payments.
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually 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 individuals only discover when things fail. Nevertheless, when things go right, it's seen as just a routine task. This is how it's viewed externally too. Therefore, it is essential to ensure that tasks like Wi-Fi International and other important matters are done properly. Using the first Global Payments first payroll payment service is a great initial step towards offering a comprehensive payroll option for employees worldwide. Standardization, international processes, and lowering the number of tools, platforms, and bank accounts needed for worldwide payroll are essential factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyway we know how how crucial a function 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 simple as possible for everybody that's involved in those procedures and also so imagine sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task trying to clean all those up for sure oh definitely 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 try to browse them and in fact see what was going on and type of shot to return to everyone so carrying on look why do companies choose to main separate checking account there are businesses out there doing exactly this for specific countries and I've operated in an organization or many companies doing exactly that I can state it doesn't always feel effective and it does produce more work I understand we're not intentionally doing that we're not producing extra work for anybody where we don't need to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I believe people have actually got so used to we require a 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 just been the requirement and the standard the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I believe this is a process that needs looking at it requires changing but eventually people are very stuck with what they're familiar
with right um modification is a challenging thing we all do not like change um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having preserving several savings account however there's a substantial amount of complexity chooses establishing a savings account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is huge however I think the sincere response is change um individuals haven't had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or two there is a lot to monitor and this technique does position numerous obstacles um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this improved ability, I have successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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