Find out more about Papaya Global United Arab Emirates ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and trusted technique of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Worker Portal supplies workers with the capability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global helps companies provide competitive advantages plans to international staff members regardless of the number of workers in the business. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source local advantages suppliers in every country, create regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work expenses distributed per place, overall work expenses per cycle and far more.
environments around the world I supplied management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work across the business managing and structure external relationships supporting Enterprise clients and solutions as well as functioning as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a satisfaction to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have always mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've type of had a range of various roles on the service provider side and also on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting 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 comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really bleak and I want I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business maintain separate
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time during this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one nation however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include more intricacy the international Workforce is presently three and a half billion individuals 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 factor in that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll model there's typically an overwhelming variety of various systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or very very fundamental there's no genuine consistency structure we're living in a period 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 typically with pen and paper which just blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a service invests in international payroll the less of a photo they see an absence of presence likewise extends to payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide businesses have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors improperly interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is shipped to the wrong place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they count on the needed multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties service face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and state what is it what does not require to be consisted of ideal and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities 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 intricacy anywhere you look best ultimately constructing a knowledge base is absolutely important however all over you look with payroll payment they resemble super payments no if however some infants 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 think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to kind of move on with that it also too to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely essential that payroll and finance teams 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 occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often 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 likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to contribute to sort of the level of intricacy there's more and more benefits being organ or being used by services throughout the world so again you're just wanting to include more and more payments to this already intricate landscape so if you sort of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real obstacles or genuine challenging type of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details 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 doesn't necessarily require to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos that we run in they simply make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any business has from an expense point of view from an impact viewpoint on workers 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 need to be done right it has the most significant harmful impact on people's wellness and lots of other aspects if individuals aren't paid uh I've always been amazed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people just observe when things fail. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. Therefore, it is essential to make sure that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment solution is a fantastic initial action towards offering a thorough payroll option for staff members worldwide. Standardization, international procedures, and reducing the number of tools, platforms, and savings account required for international payroll are key consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyhow we know how how essential 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 easy as possible for everybody that's involved in those procedures and also so think of sorry I'm just I was just gon na state imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that numerous 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 attempting to clean up 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 require days of the week to try to check out them and actually see what was going on and type of try to get back to everyone so carrying on appearance why do companies choose to primary separate bank accounts there are organizations out there doing exactly this for specific countries and I have actually operated in a company or many companies doing precisely that I can state it doesn't always feel efficient and it does create more work I know we're not deliberately doing that we're not creating additional work for any person where we don't need to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe many reasons one is it's the requirement I believe individuals have actually got so utilized to we require a new savings account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I think this is a process that requires taking a look at it needs altering but eventually individuals are really stuck to what they recognize
with best um modification is a tough thing we all do not like modification um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having maintaining multiple bank accounts but there's a big amount of complexity goes with establishing a checking account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual individuals so the complexity is huge but I believe the sincere answer is change um individuals haven't had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I believe 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 looking at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to keep an eye on and this technique does posture numerous obstacles um so Johnny might you tell us about those challenges yeah of course so there's a variety 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 Global staff members you deserve a corner workplace with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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