Find out more about Papaya Global Bahrain ... We now have the capability to handle 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 specifically committed to managing payments. This provides us with a protected and dependable method of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll process, saving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Staff member Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and work documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive advantages plans to international employees despite the number of workers in the company. The company can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local advantages service providers in every country, develop local accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, overall work expenses dispersed per location, overall employment expenses per cycle and a lot more.
environments across the globe I offered 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 across the business handling and structure external relationships supporting Business customers and services along with serving 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 most prominent business worldwide we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon great night depending upon where you remain in the world it's beautiful to meet 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've been in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 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 have actually type of had a range of various roles on the service provider side and likewise on the supplier side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates 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 raining here it's extremely extremely bleak and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business maintain different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different bank accounts 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 talk about why they are ending up being a strategic possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of factors most importantly guidelines compliance information security and banking rules then there are the sheer numbers they add more intricacy the worldwide Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll design there's frequently a frustrating number of various systems causing lengthy manual processes and silos the number of Integrations could be non-existent in large amounts and or very extremely standard there's no real consistency structure we're residing in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business spends on global payroll the less of a photo they see an absence of visibility also reaches payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of international organizations have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations along with absence management and system setups and then when you round all of it off and the information is delivered to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they depend on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties business face when they're making payments to workers or otherwise that's an excellent question I always toss this back and state what is it what does not need to be included ideal and what does
it need to be considered there's varying Bank details 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 have to pay from the customer's own in-country account so there's complexity any place you look best ultimately building a knowledge base is absolutely vital however all over you look with payroll payment they are like incredibly payments no if however 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 believe there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to kind of progress with that it also too to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is definitely crucial that payroll and finance groups work closer together than ever um I'm always impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically 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 likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more essential to add to type of the level of intricacy there's increasingly more benefits being organ or being offered by companies throughout the world so again you're simply aiming to include a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real challenges or genuine tough type of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of decades I would absolutely state that the bigger 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 teams feeding details into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any business has from an expense perspective from an impact point of view on staff members it is absolutely vital 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 biggest damaging result on people's wellness and numerous other elements if individuals aren't paid uh I have actually constantly been impressed entering this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anybody on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but eventually payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it fails however when it goes right it's just 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 things is definitely crucial that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment solution is a terrific first step um supplying an end-to-end payroll solution for your workers globally again I think is another substantial um process again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of services and reducing the number of tools platforms and bank accounts they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I do not think any of us are in fact doing that for for the thanks
anyway we know how how essential 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 likewise so picture sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and type of try to return to everybody so carrying on appearance why do business pick to main separate checking account there are companies out there doing exactly this for specific nations and I've worked in a company or many companies doing exactly that I can say it does not always feel effective and it does create more work I know we're not purposely doing that we're not developing extra work for any person where we do not have to and anybody 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 many reasons one is it's the standard I believe 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 variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I think this is a process that requires looking at it requires altering however ultimately people are very stuck to what they recognize
with best um change is a difficult thing all of us don't like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having preserving numerous checking account however there's a substantial quantity of intricacy chooses establishing a savings account keeping it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for individual people so the complexity is huge however I believe the sincere response is change um people haven't had the ability to change or have not had always the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think 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 excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century or two there is a lot to track and this approach does pose a number of obstacles um so Johnny could you inform us about those difficulties yeah of course so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this improved capability, I have effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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