Find out more about Papaya Global Kuwait ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to handling payments. This provides us with a safe and secure and reliable method of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app enhances my payroll process, saving me a substantial quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Worker Website
Employees have access to an Employee Portal where they can view their pay slips, wage and tax statements and employment files. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive benefits bundles to global employees despite the variety of workers in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source local advantages providers in every nation, produce regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall work expenses dispersed per location, total work costs per cycle and a lot more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and building external relationships supporting Enterprise clients and options along with functioning as an advisor for those of you that don't understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for the majority of prominent business in the world we provide payroll payments and workforce management to all staff member types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon great night depending upon where you remain in the world it's lovely 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 have actually been in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble 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 kind of had a variety of different functions on the provider side and likewise on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely bleak and I want I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic property 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 precisely efficiently securely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how business accurately forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in enough in one country but when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of factors most importantly regulations compliance data security and banking rules then there are the large numbers they add further complexity the global Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the traditional payroll design there's often a frustrating variety of different systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or really extremely basic there's no genuine consistency framework we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in international payroll the less of an image they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction almost half of international companies have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors improperly interacted hires and terminations as well as lack management and system setups and then when you round all of it off and the information is delivered to the wrong location the typical expense 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 required numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles company face when they're paying to employees or otherwise that's an excellent concern I always toss this back and say what is it what doesn't require to be consisted of best 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 nation there's payment amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 basic and innovation is permitting us to kind of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely imperative that payroll and financing groups work better together than ever um I'm always amazed when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the compensation landscape is becoming significantly detailed. Companies are constantly introducing new benefits and payment options, which adds to the overall intricacy. Large corporations frequently divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's highly sophisticated era, there's no justification for preserving cumbersome treatments. Payroll, the business's biggest expense, need to be processed properly and on time. Even small delays can negatively affect employees' well-being and have significant effects. Therefore, it's critical to focus on accurate and timely payments.
payroll group get um so I'm unsure anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an important cycle we all become aware of 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 think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done correctly so leveraging the first Global Payments first payroll payment service is a fantastic first step um providing an end-to-end payroll option for your employees globally again I believe is another big um process again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of services and minimizing the variety of tools platforms and bank accounts they need for their Global 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 ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand how how crucial 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 everyone that's involved in those procedures and likewise so envision sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job trying to clean up all those up for sure oh definitely 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 attempt to look through them and really see what was going on and kind of try to return to everybody so moving on look why do companies select to main different savings account there are companies out there doing precisely this for particular countries and I've worked in a service or lots of businesses doing precisely that I can say it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not creating extra work for anybody where we do not need to and anyone that's dealing with that process 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 believe numerous factors one is it's the standard I believe individuals have actually got so used to we need a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires altering however ultimately individuals are really stuck with what they're familiar
with right um modification is a hard thing all of us do not like change um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having maintaining numerous savings account however there's a big quantity of complexity chooses establishing a checking account preserving it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is big however I believe the truthful answer is change um people haven't been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could almost be determined to be the next Century approximately there is a lot to keep track of and this approach does present numerous obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you should have a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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