Find out more about Papaya Global Qatar ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to handling payments. This offers us with a secure and trustworthy technique of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
Worker Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive benefits packages to worldwide workers despite the number of staff members in the business. The business can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source regional benefits service providers in every nation, produce local accounts and have a minimum variety of staff members.
The HR abilities offered by International HR incorporate numerous functions such as keeping an eye on trip time, making sure compliance, helping with the procedure of welcoming new employees and bidding goodbye to leaving ones, providing a safe online platform for storing employees' files, and providing assistance for work permit treatments in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, total work expenses distributed per location, overall work costs per cycle and much more.
environments across the globe I provided management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across business handling and building external relationships supporting Enterprise customers and services along with serving as a consultant 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 supply payroll payments and workforce management to all worker key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon good evening depending on where you remain in the world it's beautiful 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 ten years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually type of had a variety of various roles on the supplier side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I truly 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 drizzling here it's extremely extremely gloomy and I wish I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies maintain separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a strategic property uh we'll also go over a recap and that should leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of common and handling them ends up being a growing number of intricate International companies are looking to find Solutions and brand-new ways to enhance procedures specifically from a payroll and cross-border payment perspective lots of companies keep separate checking account just for payroll while some have several accounts in various nations does it make sense for companies to keep separate checking account often in various countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business simplify the episode complex processes of
making payroll payments precisely efficiently securely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business properly forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complex for a range of reasons most significantly regulations compliance information security and banking guidelines then there are the large numbers they include more complexity the international Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll design there's often a frustrating number of different systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in big quantities and or very very standard there's no real consistency framework we're residing in an era of tech however payroll has actually 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 just blows my mind every 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 companies state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization spends on worldwide payroll the less of a picture they see an absence of presence also reaches payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the deal almost half of global organizations have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes badly communicated hires and terminations along with absence management and system configurations and then when you round all of it off and the information is shipped to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run smoothly if they count on the necessary several procedures 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 difficulties company face when they're paying to employees or otherwise that's a good question I always throw this back and say what is it what does not need to be consisted of right and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities 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 customer's own in-country account so there's complexity anywhere you look best eventually developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble extremely 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 recognition that payroll payments are definitely fundamental and innovation is enabling us to sort of progress with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely essential that payroll and financing teams work better together than ever um I'm constantly 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 operate in the payroll occupation 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 typically split and cut up um eventually 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 but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to contribute to type of the level of complexity there's more and more benefits being organ or being provided by services across the world so again you're just aiming to add more and more payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine difficulties or genuine challenging kind of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding info into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to produce extra handoffs in the processes that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and a period that you know that we are working in today there is no reason we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any service has from an expense viewpoint from an effect perspective on employees it is definitely critical that it's done correctly 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 greatest damaging impact on people's wellness and lots of other factors if individuals aren't paid uh I've always been impressed coming into this Market sort of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people only notice when things fail. However, when things go right, it's viewed as just a regular task. This is how it's perceived externally also. For that reason, it is essential to guarantee that jobs like Wi-Fi International and other vital matters are done correctly. Using the very first International Payments first payroll payment option is a terrific preliminary step towards providing a detailed payroll solution for workers worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and savings account essential for international payroll are key consider attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things do not go as prepared. Eventually, we do not do it for the gratitude.
anyway we know how how essential 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 processes and also so think of sorry I'm simply I was just gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and really see what was going on and kind of shot to return to everyone so proceeding look why do business pick to main separate checking account there are companies out there doing precisely this for particular nations and I've operated in an organization or many companies doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anybody where we do not have to and anyone that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think many factors one is it's the requirement I think individuals have actually got so utilized to we require a new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I believe this is a procedure that needs looking at it requires altering but ultimately individuals are very stuck to what they recognize
with right um change is a difficult thing we all do not like change um so I think it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having maintaining multiple savings account however there's a substantial quantity of intricacy chooses setting up a checking account keeping it guaranteeing it can send International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is substantial but I think the sincere answer is modification um individuals have not had the ability to alter or have not had always the understanding to really make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or two there is a lot to keep an eye on and this method does pose a number of obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a change 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 gained another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your achievements.
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