Find out more about Papaya Global Uae ... 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 acquired a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and reliable method of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Worker Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive advantages plans to global staff members regardless of the number of workers in the business. The company can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local advantages service providers in every nation, produce local accounts and have a minimum number of workers.
The HR abilities provided by Global HR encompass different functions such as monitoring getaway time, ensuring compliance, facilitating the procedure of welcoming brand-new staff members and bidding goodbye to leaving ones, offering a secure online platform for keeping employees' documents, and supplying support for work allow procedures in case your workers need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall employment costs dispersed per area, overall employment costs per cycle and much more.
environments across the globe I provided management and method 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 throughout business managing and building external relationships supporting Business clients and options along with serving as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have focused on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've sort of had a range of various functions on the provider side and also on the supplier side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everyone another number of uh well among 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 rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely bleak and I want I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll likewise review a recap which needs to leave his time at the really very 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 International labor forces end up being a growing number of typical and handling them ends up being more and more intricate International companies are wanting to discover Solutions and brand-new methods to streamline processes specifically from a payroll and cross-border payment standpoint lots of organizations keep separate bank account just for payroll while some have multiple accounts in various countries does it make sense for companies to maintain separate bank accounts in some cases in various nations it does but just for payroll is there a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies enhance the episode complex processes of
making payroll payments precisely effectively firmly 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 expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of factors most significantly policies compliance information security and banking rules then there are the sheer numbers they add additional intricacy the worldwide Workforce 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 factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the standard payroll design there's typically an overwhelming number of various systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in big amounts and or very really fundamental there's no real consistency structure we're residing in an age of tech but 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 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 businesses state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more a service spends on global payroll the less of an image they see a lack of exposure likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of global companies have revealed 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 bad HCM data information entry mistakes badly communicated hires and terminations along with absence management and system configurations and after that when you round it all off and the information is shipped to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when 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 required multiple 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 obstacles business face when they're making payments to workers or otherwise that's an excellent concern I constantly toss this back and state what is it what doesn't require to be included best and what does
it require to be thought about there's varying 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 capabilities 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 consumer's own in-country account so there's complexity anywhere you look right eventually developing a knowledge base is absolutely important however everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a 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 basic and innovation is permitting us to type of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is definitely essential that payroll and financing teams work better together than ever um I'm always surprised when people say 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 profession would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place 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 essential to add to kind of the level of complexity there's more and more benefits being organ or being used by companies throughout the world so again you're just aiming to include increasingly more payments to this already complicated 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 difficulties or real difficult type of pay utilizes to play to pay people I think yeah I suggest 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 job there are teams feeding information into the next function as it were that's in fact managing the payment side of things however you know 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 require to develop extra handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason why we are still making this as difficult as it needs to be concurred and appropriately as you said payroll is the single most significant liability that any service has from a cost point of view from an effect point of view on workers 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 biggest harmful effect on people's well-being and lots of other elements if people aren't paid uh I have actually constantly been surprised entering into this Market type of the last five to ten years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only notice when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally also. For that reason, it is necessary to make sure that tasks like Wi-Fi Worldwide and other important matters are done properly. Utilizing the first International Payments first payroll payment service is a fantastic initial step towards providing a thorough payroll service for employees worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and savings account required for worldwide payroll are crucial factors in achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things do not go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we understand how how crucial 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 associated with those processes and also so imagine sorry I'm just I was just 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 speaking about hundreds of thousands possibly Millions picture getting that lots of thank you notes 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 up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and in fact see what was going on and sort of shot to return to everyone so carrying on appearance why do business choose to main separate checking account there are organizations out there doing precisely this for particular nations and I have actually worked in an organization or lots of businesses doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing additional work for any person where we do not need to and anybody that's handling 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 lots of reasons one is it's the standard I believe people have actually got so used to we need a new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard the people 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 lots of other methods um to to sort of do it so I think there's a variety I think this is a procedure that requires taking a look at it requires altering but eventually people are extremely stuck to what they're familiar
with best um modification is a tough thing we all don't like modification um so I believe it's simply type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having preserving several checking account however there's a substantial quantity of intricacy opts for establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for specific individuals so the intricacy is big but I believe the truthful response is change um individuals have not been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or so there is a lot to keep an eye on and this technique does pose several difficulties um so Johnny might you tell us about those challenges yeah naturally so there's a range right there is so
I just did you switched 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 International employees you deserve a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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