Find out more about Papaya Global Customer Support Number ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and secure and trusted approach of making payments to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll procedure, conserving me a substantial amount of time monthly. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Employee Website provides workers with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to worldwide workers despite the variety of employees in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source local advantages companies in every nation, create regional accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR incorporate various functions such as monitoring trip time, guaranteeing compliance, helping with the procedure of welcoming brand-new workers and bidding farewell to leaving ones, providing a protected online platform for keeping workers' documents, and providing support for work allow procedures in case your workers require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, overall employment costs dispersed per location, total employment expenses per cycle and a lot more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise customers and services as well as functioning as a consultant for those of you that do not know who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for many influential business on the planet we offer payroll payments and workforce management to all employee key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon great evening depending on where you are in the world it's charming to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually kind of had a range of different functions on the provider side and likewise on the supplier side from a payroll perspective 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 give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really very dreary and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one country however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most significantly policies compliance information security and banking rules then there are the large numbers they add further intricacy the worldwide Labor force is presently three and a half billion people by 2030 it's approximated 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 all over the world in the conventional payroll model there's frequently an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in large amounts and or extremely very basic there's no real consistency structure we're residing 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 frequently with pen and paper and that 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 businesses state they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more an organization invests in international payroll the less of a photo they see an absence of exposure also reaches payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide organizations have revealed that they do not 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 information entry errors improperly communicated hires and terminations in addition to lack management and system setups and then when you round everything off and the data is delivered to the incorrect location the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they depend on the needed numerous 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 service face when they're paying to employees or otherwise that's an excellent concern I constantly throw this back and say what is it what does not require to be consisted of best and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities 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 client's own in-country account so there's intricacy any place you look best ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to type of move on with that it also also to contribute to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely vital that payroll and finance groups work better together than ever um I'm constantly astonished when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation 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 often split and cut up um ultimately it's payroll is an end-to-end process 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
The modern-day world positions a high value on wellness and the settlement landscape is becoming increasingly detailed. Companies are continuously presenting brand-new advantages and payment alternatives, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into separate teams, which can result in inefficiencies and traffic jams. In my viewpoint, this does not have to hold true. In today's highly advanced period, there's no reason for maintaining troublesome treatments. Payroll, the company's greatest cost, must be processed properly and on time. Even slight delays can adversely impact employees' wellness and have significant effects. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll team get um so I'm unsure anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely vital that all of this things is done properly so leveraging the first Global Payments first payroll payment service is a fantastic initial step um offering an end-to-end payroll service for your workers internationally once again I think is another substantial um procedure again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely key to success success of companies and reducing the variety of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know how how important 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 simple as possible for everybody that's involved in those procedures and also so picture sorry I'm just I was simply gon na say envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions envision getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task 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 need days of the week to attempt to look through them and really see what was going on and sort of shot to get back to everybody so carrying on appearance why do business pick to primary different bank accounts there are organizations out there doing precisely this for specific countries and I've operated in a company or numerous companies doing precisely that I can say it does not always feel efficient and it does produce more work I know we're not deliberately doing that we're not creating extra work for anybody where we don't need to and any person that's dealing with that process 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 believe lots of reasons one is it's the standard I think people have got so utilized to we need 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 just been the requirement and the standard individuals have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a procedure that requires looking at it needs changing but eventually individuals are really stuck with what they're familiar
with best um change is a difficult thing we all don't like change um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having preserving multiple savings account however there's a substantial quantity of complexity opts for establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is substantial however I think the truthful response is change um individuals haven't been able to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might almost be identified to be the next Century approximately there is a lot to monitor and this technique does position several difficulties um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I just recently made a modification 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 gained another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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