Find out more about Papaya Global Saudi Arabia ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and trustworthy technique of paying to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
The Employee Portal provides staff members with the ability to access 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 provided in various languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages plans to worldwide employees no matter the number of workers in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional advantages suppliers in every nation, create regional accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment expenses distributed per place, overall employment costs per cycle and a lot more.
environments across the globe I offered management and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work across the business handling and structure external relationships supporting Business clients and options along with functioning as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've sort of had a variety of different roles on the supplier side and also on the supplier side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody 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 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 very really uninspiring and I want I was somewhere else 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 difficulty years of managing Global payroll why companies maintain separate
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining different checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes complex for a range of reasons most significantly guidelines compliance data security and banking rules then there are the sheer numbers they add additional intricacy the global Workforce is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the conventional payroll model there's frequently an overwhelming variety of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or really really basic there's no genuine consistency structure we're living in an age 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 simply blows my mind whenever I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services 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 company spends on global payroll the less of an image they see an absence of visibility likewise encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global services have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes badly interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the data is shipped to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the necessary several processes 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 obstacles service face when they're paying to employees or otherwise that's an excellent question I always throw this back and say what is it what doesn't require to be included ideal and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 client's own in-country account so there's intricacy any place you look best eventually building a knowledge base is definitely crucial however all over you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to sort of move on with that it also too to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance teams work closer together than ever um I'm constantly surprised when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more essential to add to type of the level of complexity there's more and more advantages being organ or being offered by services across the world so again you're just aiming to add a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real difficulties or genuine tough kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of years I would definitely 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 teams feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to develop additional handoffs at the same times that we run in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and an age that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from an expense perspective from an effect point of view on employees it is absolutely crucial that it's done properly and on time so what we imply 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 harmful impact on people's well-being and many other elements if individuals aren't paid uh I have actually constantly been astonished entering into this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anyone on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply 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 stuff is definitely vital that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment solution is a terrific first step um offering an end-to-end payroll solution for your staff members worldwide once again I think is another huge um procedure again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of businesses and reducing the variety of tools platforms and checking account they require 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 had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're meant to be um I don't think any of us are in fact doing that for for the thanks
anyway we understand how how essential 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 easy as possible for everybody that's involved in those procedures and likewise so picture sorry I'm just I was simply gon na say envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job trying to clean up all those up for sure oh absolutely I can't imagine 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 try to get back to everyone so proceeding appearance why do business pick to primary different checking account there are services out there doing precisely this for particular nations and I've operated in a company or many companies doing precisely that I can state it doesn't always feel efficient and it does develop more work I know we're not intentionally doing that we're not creating extra work for anyone where we do not need to and anyone that's handling 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 believe numerous reasons one is it's the requirement I believe people have actually got so utilized to we need a brand-new checking account we open an entity and appropriately 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 standard and the standard the people have embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I think this is a process that needs looking at it requires changing however eventually people are very stuck with what they're familiar
with right um modification is a difficult thing all of us do not like modification um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having keeping several bank accounts however there's a big amount of intricacy chooses setting up a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific individuals so the complexity is substantial however I think the honest answer is modification um people have not had the ability to alter or haven't had always the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we've constantly 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 practically be identified to be the next Century or so there is a lot to track and this technique does present a number of challenges um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I just did you changed our Business 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 Global workers you are worthy of a corner workplace with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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