Find out more about Papaya Global Saudi Arabia ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly committed to managing payments. This supplies us with a protected and dependable technique of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a substantial quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Employee Website offers staff members with the capability to access and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to global workers regardless of the number of workers in the company. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source regional benefits service providers in every nation, create regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work costs dispersed per area, total employment costs per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise customers and solutions in addition to serving as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for the majority of prominent business on the planet we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent 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 stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I've kind of had a range of various functions on the supplier side and likewise on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately 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 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 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 really really gloomy and I wish I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll also discuss a wrap-up and that must leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more typical and handling them becomes increasingly more intricate Worldwide organizations are wanting to discover Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment standpoint numerous organizations keep separate checking account just for payroll while some have several accounts in various countries does it make sense for business to keep different savings account sometimes in different countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business enhance the episode complex procedures of
making payroll payments precisely effectively firmly and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly forecast their payroll costs 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 difficult in enough in one nation but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of reasons most notably guidelines compliance data security and banking guidelines then there are the sheer numbers they add more intricacy the global Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll model there's often a frustrating variety of various systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in large quantities and or very really fundamental there's no genuine consistency structure we're living in an era of tech however 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 which simply blows my mind each time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more an organization spends on international payroll the less of a photo they see an absence of visibility also encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global services 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 data information entry mistakes inadequately interacted hires and terminations as well as lack management and system configurations and then when you round it all off and the information is delivered to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe 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 point of view and in your experience what else requires to be factored into the difficulties organization face when they're making payments to workers or otherwise that's a great question I constantly toss this back and state what is it what doesn't need to be consisted of right and what does
it require to be thought about 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 have to pay from the client's own in-country account so there's complexity wherever you look ideal eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort 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 basic and innovation is permitting us to type of move forward with that it likewise as well to add to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup processes is absolutely essential that payroll and finance teams work more detailed together than ever um I'm constantly impressed when individuals state I've divided payroll and payment um if you stroll 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 an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the payment landscape is ending up being significantly complex. Companies are continually presenting new advantages and payment choices, which adds to the overall complexity. Big corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and traffic jams. In my opinion, this does not have to be the case. In today's technologically advanced age, there's no justification for preserving troublesome procedures. Payroll, the business's most significant cost, must be processed properly and on time. Even slight delays can negatively affect employees' wellness and have significant repercussions. Therefore, it's crucial to focus on accurate and prompt payments.
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only notice when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. For that reason, it is vital to make sure that tasks like Wi-Fi Worldwide and other crucial matters are done properly. Using the very first Global Payments first payroll payment option is a great preliminary action towards supplying a detailed payroll solution for staff members worldwide. Standardization, global processes, and reducing the number of tools, platforms, and bank accounts required for global payroll are essential factors in accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyway we know how how important 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 everyone that's involved in those processes and likewise so think of sorry I'm just I was simply gon na state think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions envision getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean up 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 look through them and really see what was going on and sort of try to return to everyone so carrying on appearance why do business select to primary separate checking account there are services out there doing exactly this for particular nations and I've worked in a service or numerous organizations doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not deliberately doing that we're not developing additional work for anybody where we do not need to and anyone that's dealing with 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 quantity that we are I think numerous reasons one is it's the standard I think people have got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look 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 requires looking at it needs changing however ultimately individuals are extremely stuck to what they recognize
with ideal um change is a tough thing we all don't like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having preserving multiple checking account however there's a substantial quantity of complexity opts for establishing a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for private individuals so the complexity is big however I believe the truthful answer is modification um individuals haven't been able to alter or have not had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however 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 carrying on and moving into you know what could almost be determined to be the next Century or so there is a lot to monitor and this technique does posture numerous difficulties um so Johnny could you inform us about those obstacles yeah of course so there's a variety right there is so
I just did you changed 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 Global staff members you should have a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location