Find out more about Papaya Global Payroll Contact Phone Number ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a secure and trusted method of paying to our 10,000 employees worldwide.}
The advanced global payroll management app streamlines my payroll process, saving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Employee Website provides employees with the capability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages packages to global employees despite the number of employees in the company. The business can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages suppliers in every country, produce local accounts and have a minimum number of employees.
The HR capabilities supplied by Worldwide HR incorporate different functions such as keeping track of getaway time, ensuring compliance, helping with the process of inviting brand-new staff members and bidding goodbye to leaving ones, providing a protected online platform for storing workers' documents, and offering support for work allow procedures in case your employees require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work costs distributed per location, overall employment expenses per cycle and much more.
environments across the globe I offered management and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across the business handling and structure external relationships supporting Enterprise customers and solutions in addition to serving as an advisor 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 the majority of influential companies worldwide we provide payroll payments and labor force management to all employee enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon great evening depending upon where you remain 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've remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was interested by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I've sort of had a range of different roles on the company side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really very gloomy and I wish I was somewhere else 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 companies preserve separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical asset uh we'll also discuss a recap which must leave his time at the very 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 Worldwide workforces end up being more and more typical and managing them ends up being more and more complicated Worldwide companies are looking to discover Solutions and new methods to simplify procedures particularly from a payroll and cross-border payment standpoint many organizations preserve different bank account just for payroll while some have multiple accounts in different nations does it make sense for companies to preserve separate savings account in some cases in various nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international companies enhance the episode complex procedures of
making payroll payments accurately effectively firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of factors most significantly guidelines compliance information security and banking rules then there are the large numbers they add further complexity the worldwide Workforce is presently 3 and a half billion people by 2030 it's approximated 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 services and growing all doing their own thing all over the world in the conventional payroll design there's frequently a frustrating number of different systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in large amounts and or very very fundamental there's no genuine consistency framework we're residing in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more a company invests in global payroll the less of a photo they see an absence of presence also encompasses payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global organizations have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes badly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they count on the needed several procedures 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 challenges business face when they're paying to workers or otherwise that's an excellent concern I always throw this back and state what is it what doesn't require to be included best and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is definitely crucial however all over you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to type of move on with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely vital that payroll and financing teams work closer together than ever um I'm always impressed when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation 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 frequently 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 any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of important to contribute to sort of the level of complexity there's more and more benefits being organ or being provided by services throughout the world so once again you're simply wanting to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real obstacles or real challenging kind of pay uses to play to pay people I believe yeah I mean over the last well yeah a couple of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we need to produce extra handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and a period that you understand that we are working in today there is no reason we are still making this as challenging as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any service has from an expense viewpoint from an effect perspective on workers it is definitely vital 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 have to be done right it has the most significant harmful impact on individuals's well-being and lots of other elements if people aren't paid uh I've always been surprised coming into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle we all hear about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment option is a great first step um providing an end-to-end payroll option for your staff members internationally once again I think is another huge um procedure again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of companies and decreasing the variety of tools platforms and savings account they require for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I don't think any of us are really doing that for for the thanks
anyway we know how how essential 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 processes and likewise so picture sorry I'm just I was simply gon na say envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions picture getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and type of shot to return to everybody so carrying on look why do companies pick to primary different savings account there are services out there doing exactly this for specific nations and I have actually operated 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 understand we're not purposely doing that we're not producing extra work for anybody where we don't need to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the requirement I think individuals have got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked 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 process that requires taking a look at it needs changing but eventually people are very stuck to what they're familiar
with ideal um change is a tough thing all of us don't like modification um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having maintaining multiple savings account however there's a huge amount of complexity opts for establishing a checking account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is huge however I think the honest response is modification um people have not been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change however we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century approximately there is a lot to keep an eye on and this method does pose several challenges um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you deserve a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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