Find out more about Papaya Global Payroll Opening Hours ... 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 different Chief Financial Officer particularly committed to handling payments. This offers us with a secure and trustworthy method of making payments to our 10,000 employees worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, saving me a significant quantity of time each month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
The Staff member Portal supplies workers with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to global employees regardless of the variety of workers in the business. The business can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source regional advantages companies in every country, develop regional accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR incorporate different functions such as monitoring holiday time, ensuring compliance, facilitating the process of welcoming new staff members and bidding farewell to leaving ones, providing a safe and secure online platform for keeping workers' files, and offering assistance for work permit treatments in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall work costs distributed per location, total work costs per cycle and far more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work across the business handling and structure external relationships supporting Enterprise customers and solutions as well as serving as a consultant 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 many influential business in the world we provide payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon excellent evening depending on where you are in the world it's charming to fulfill you and thank you quite for your time as Ian stated 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 particularly working on the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've sort of had a variety of different functions on the provider side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds or two to join all of us 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 currently just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I actually 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 really gloomy and I want I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain different
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and timely payroll payments is a complex challenge for businesses running internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll bank accounts, find out how business forecast payroll costs to optimize working capital, and discover how enhancing worldwide payroll payments can change them from a challenging job into a strategic possession.
Managing payroll internationally is a complicated task due to various policies, compliance requirements, information security concerns, and banking guidelines. The sheer variety of workers and companies contributes to the complexity, with an estimated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically result in manual processes, data silos, and a lack of combination, leading to disparities and inadequacies. Regardless of living in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to supply insights and options to streamline and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in international payroll the less of an image they see an absence of visibility likewise extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of global companies have actually expressed 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 because of time reporting poor HCM information data entry mistakes poorly communicated hires and terminations in addition to lack management and system setups and then when you round everything 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 when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they count on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges company face when they're making payments to workers or otherwise that's a great question I always toss this back and say what is it what does not need to be consisted of best and what does
it need to be considered there's differing Bank details 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 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 constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like extremely payments no if but some infants 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 essential and innovation is enabling us to kind of move on with that it also also to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work better together than ever um I'm always astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't 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 typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high worth on well-being and the payment landscape is becoming significantly intricate. Services are constantly presenting new advantages and payment choices, which adds to the overall complexity. Large corporations often divide their payroll and payment processing into separate teams, which can cause inadequacies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technologically sophisticated age, there's no reason for keeping troublesome procedures. Payroll, the company's greatest expense, should be processed correctly and on time. Even minor hold-ups can negatively impact employees' well-being and have far-reaching effects. For that reason, it's vital to prioritize accurate and timely payments.
payroll group get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle all of us become aware of it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I think 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 things is definitely vital that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment service is a terrific first step um providing an end-to-end payroll option for your employees globally again I believe is another substantial um process once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely crucial to success success of companies and reducing the number of tools platforms and checking account they require for their International 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 don't expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyway we know 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 everybody that's involved in those procedures and also so think of sorry I'm simply I was simply gon na state envision 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 speaking about numerous thousands possibly Millions think of 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 absolutely be an interesting task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of shot to return to everyone so carrying on look why do business select to primary different bank accounts there are companies out there doing exactly this for particular countries and I have actually worked in a service or lots of organizations doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not developing extra work for anyone where we do not need to and any person that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think lots of reasons one is it's the standard I believe individuals have actually got so used to we need a new checking account we open an entity and rightly so you require it for payroll purposes 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 passed by to add to that people have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a variety I think this is a procedure that requires taking a look at it requires altering however ultimately individuals are really stuck to what they recognize
with right um modification is a hard thing all of us do not like modification um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having maintaining multiple bank accounts but there's a huge amount of complexity goes with establishing a savings account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is huge however I think the sincere answer is change um people haven't been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century approximately there is a lot to keep an eye on and this technique does pose several difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I simply did you changed 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 Global workers you are worthy of a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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