Find out more about Papaya Global Payroll Hours Of Operation ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and secure and reliable method of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app simplifies my payroll procedure, conserving me a significant amount of time monthly. With its easy to use user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
The Staff member Portal provides staff members with the capability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive benefits bundles to international workers no matter the variety of workers in the business. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source regional advantages service providers in every nation, develop regional accounts and have a minimum number of workers.
The HR abilities supplied by International HR encompass various functions such as monitoring trip time, ensuring compliance, helping with the process of welcoming brand-new employees and bidding farewell to leaving ones, offering a safe online platform for storing employees' documents, and offering support for work permit procedures in case your workers need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall work costs distributed per place, total employment expenses per cycle and a lot more.
environments around the world I provided management 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 throughout the business managing and building external relationships supporting Enterprise clients and solutions in addition to functioning as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
business to make the time 100 list for a lot of prominent companies worldwide we offer payroll payments and workforce management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good night depending upon where you are in the world it's lovely to meet 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 remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've sort of had a range of different roles on the company side and also on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody 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 raining here it's really very bleak and I wish 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 obstacle years of handling International payroll why companies maintain different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining different savings account for payroll in various countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex obstacle for companies operating worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a challenging task into a tactical asset.
Managing payroll globally is a challenging task due to various regulations, compliance requirements, information security issues, and banking rules. The sheer number of workers and services contributes to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically lead to manual processes, information silos, and a lack of combination, causing inconsistencies and inefficiencies. Despite residing in an era of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to offer insights and options to streamline and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of an image they see a lack of presence also reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of international services have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors improperly 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 delivered to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they count on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties business face when they're paying to employees or otherwise that's a great question I always throw this back and state what is it what doesn't need to be included best 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 time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy wherever you look best ultimately developing a knowledge base is definitely vital but all over you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to type of progress with that it also also to add to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm constantly amazed when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd 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 complexity there's increasingly more benefits being organ or being used by services across the world so once again you're simply wanting to add more and more payments to this already complex landscape so if you kind 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 genuine obstacles or genuine challenging sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding details into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we operate in they simply make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single most significant liability that any organization has from a cost perspective from an impact viewpoint on staff members it is absolutely critical that it's done properly and on time so what we indicate 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 people's wellness and lots of other elements if people aren't paid uh I have actually constantly been amazed entering into this Market sort of the last five to ten years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only see when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally also. For that reason, it is important to ensure that tasks like Wi-Fi Global and other crucial matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment service is a terrific initial step towards offering a comprehensive payroll service for workers worldwide. Standardization, international procedures, and reducing the number of tools, platforms, and checking account necessary for global payroll are crucial factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyway we understand 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 simply I was just gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I indicate 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 imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and sort of try to return to everybody so carrying on appearance why do companies choose to main different savings account there are organizations out there doing exactly this for particular nations and I've worked in a business or lots of services doing exactly that I can state it does not constantly feel effective and it does create more work I understand we're not purposely doing that we're not developing extra work for anyone where we don't need to and anybody that's dealing with 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 believe lots of reasons one is it's the standard I think individuals have actually got so used to we need a new savings account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have adopted and continue to do over years and years passed by to add 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 range I believe this is a process that needs taking a look at it needs altering however ultimately people are extremely stuck to what they recognize
with ideal um change is a challenging thing we all don't like modification um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having maintaining numerous savings account but there's a huge quantity of intricacy chooses establishing a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for private people so the complexity is substantial but I believe the truthful response is change um people have not been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter however we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century or two there is a lot to track and this technique does position several obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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