Find out more about Contact Number For Papaya Global Payroll ... 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 acquired a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a protected and reputable method of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app simplifies 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 handles my payroll, EOR, and contractors.
Staff member Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to global staff members despite the variety of workers in the business. The business can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional benefits companies in every country, develop local accounts and have a minimum number of workers.
The HR capabilities provided by International HR incorporate different functions such as monitoring vacation time, guaranteeing compliance, assisting in the procedure of welcoming brand-new employees and bidding farewell to departing ones, providing a protected online platform for keeping workers' documents, and providing assistance for work allow procedures in case your employees need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall work costs dispersed per area, total work costs per cycle and much more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business handling and building external relationships supporting Business customers and services along with functioning as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential companies worldwide we provide payroll payments and labor force management to all worker key ins 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 present yourself obviously thank you good morning great afternoon excellent night depending on where you remain in the world it's beautiful to satisfy 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 have actually been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually sort of had a variety of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really really gloomy and I want I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business preserve different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic property uh we'll also discuss a recap which needs to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more common and handling them ends up being increasingly more complex International companies are seeking to discover Solutions and new methods to improve processes particularly from a payroll and cross-border payment standpoint numerous companies preserve different bank account just for payroll while some have numerous accounts in various countries does it make good sense for business to maintain different savings account sometimes in different countries it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international business streamline the episode complex procedures of
making payroll payments precisely effectively securely 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 companies accurately anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it becomes complex for a range of reasons most importantly policies compliance information security and banking rules then there are the large numbers they add additional intricacy the international Labor force is currently three and a half billion individuals 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 consider that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll design there's often an overwhelming number of various systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or extremely extremely basic there's no genuine consistency structure we're living in a period of tech but 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 whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization spends on global payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the transaction nearly half of international organizations have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is shipped to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they count on the required numerous processes 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 business face when they're making payments to employees or otherwise that's a good concern I always toss this back and say what is it what does not require to be consisted of best and what does
it require 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 amount of time there's payment capabilities 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 customer's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is definitely vital but everywhere you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 absolutely essential and innovation is enabling us to type of move on with that it also also to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is absolutely important that payroll and financing groups work closer together than ever um I'm always surprised when individuals state 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 profession would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to contribute to kind of the level of intricacy there's a growing number of benefits being organ or being used by services throughout the world so once again you're just looking to add more and more payments to this already intricate landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real difficulties or genuine tough sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a couple of years I would certainly state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding information into the next function as it were that's really handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce extra handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as hard as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any business has from a cost perspective from an impact point of view on employees it is absolutely important that it's done properly 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 impact on people's wellness and numerous other factors if people aren't paid uh I have actually constantly been surprised coming into this Market kind of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only notice when things fail. However, when things go right, it's seen as just a routine job. This is how it's viewed externally also. Therefore, it is vital to guarantee that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Using the very first International Payments very first payroll payment option is a terrific initial action towards offering a comprehensive payroll option for employees worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and savings account essential for global payroll are crucial consider accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyway we understand how how crucial a role 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 everyone that's associated with those processes and also so envision sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and kind of try to return to everybody so proceeding look why do business choose to primary separate checking account there are companies out there doing precisely this for particular nations and I've worked in an organization or numerous companies doing exactly that I can state it does not always feel effective and it does create more work I understand we're not intentionally doing that we're not developing additional work for anyone where we do not need to and anyone that's handling 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 reasons one is it's the standard I think individuals have actually got so used to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I think this is a process that needs looking at it needs altering but ultimately people are very stuck with what they're familiar
with best um modification is a hard thing all of us don't like modification um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having maintaining numerous checking account however there's a big amount of intricacy opts for setting up a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is big however I think the truthful answer is change um individuals have not had the ability to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to change however we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century or so there is a lot to track and this approach does pose a number of challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements.
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