Find out more about Papaya Global Oman ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and trusted technique of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Employee Website supplies workers with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists business provide competitive benefits packages to global staff members no matter the number of workers in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source regional benefits service providers in every nation, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall work costs dispersed per area, total work expenses per cycle and a lot more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business managing and structure external relationships supporting Business clients and services along with acting as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many prominent companies on the planet we supply payroll payments and workforce management to all staff member types in over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good evening depending upon where you are in the world it's charming to meet you and thank you very much 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 industry for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've kind of had a range of different roles on the company side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really extremely dreary and I want I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business keep separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a strategic asset uh we'll also discuss a recap which should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being a growing number of common and managing them becomes more and more complex Global organizations are seeking to find Solutions and brand-new methods to enhance procedures particularly from a payroll and cross-border payment perspective many companies preserve separate bank account just for payroll while some have multiple accounts in various countries does it make sense for companies to keep different savings account in some cases in different nations it does but just for payroll exists a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business simplify the episode complex processes of
making payroll payments accurately efficiently safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how companies properly forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in enough in one nation but when you're doing it worldwide it's next level and Beyond it becomes complex for a range of factors most importantly policies compliance information security and banking rules then there are the large numbers they include further complexity the international Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the conventional payroll design there's typically an overwhelming variety of various systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in big quantities and or really extremely standard there's no real consistency structure we're living in a period 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 and that just blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a business invests in international payroll the less of a photo they see an absence of presence also encompasses payroll payments and failure to precisely track these payments can lead to compliance incidents 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 need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and after that when you round everything off and the data is delivered to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they rely on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're paying to workers or otherwise that's a great question I constantly throw this back and say what is it what does not require to be consisted of right and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities 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 client's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely critical however everywhere you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to type of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work closer together than ever um I'm constantly surprised when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide 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 anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of important to add to sort of the level of complexity there's increasingly more benefits being organ or being provided by companies throughout the world so again you're simply seeking to add a growing number of payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real challenges or genuine challenging kind of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of years I would absolutely say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding information into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to produce additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they do not make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any organization has from an expense perspective from an impact point of view on employees it is definitely important that it's done correctly and on time so what we mean 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 destructive result on individuals's well-being and numerous other aspects if individuals aren't paid uh I have actually constantly been amazed coming into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm unsure anyone on this type of webinar has actually been told 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 employees or not um however ultimately payroll is such an essential cycle all of us hear about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as 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 very first Worldwide Payments first payroll payment solution is a terrific first step um supplying an end-to-end payroll solution for your employees worldwide once again I think is another big um procedure again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of businesses and reducing the variety of tools platforms and bank accounts they require for their Worldwide 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've never ever had a hundred thousand of 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 problems where things haven't gone quite where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway we know 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 associated with those procedures and also so imagine sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and really see what was going on and kind of shot to get back to everyone so moving on appearance why do business select to main different bank accounts there are organizations out there doing exactly this for particular countries and I have actually operated in a service or lots of companies doing exactly that I can say it does not constantly feel efficient and it does create more work I know we're not intentionally doing that we're not creating extra work for any person where we don't need to and anyone that's dealing with that procedure 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 think lots of factors one is it's the standard I believe people have got so used to we need a brand-new bank account we open an entity and rightly so you need 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 requirement and the standard individuals have embraced 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 believe there's a variety I think this is a procedure that needs taking a look at it needs altering but ultimately people are really stuck to what they recognize
with best um change is a tough thing we all don't like change um so I think it's just 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 understand obviously the benefits of having keeping numerous savings account however there's a huge quantity of complexity opts for establishing a checking account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private individuals so the intricacy is big however I think the truthful response is change um individuals haven't been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to alter but we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century approximately there is a lot to monitor and this approach does present numerous obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I just did you switched our Enterprise 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 Worldwide workers you deserve a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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