Payroll and payments run efficiently …Papaya Global Download V27
if they rely on the needed several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties organization face when they’re making payments to staff members or otherwise that’s an excellent question I constantly toss this back and state what is it what doesn’t need to be included right and what does
it need to be thought of 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 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 consumer’s own in-country account so there’s intricacy any place you look right eventually developing a knowledge base is definitely crucial but all over you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 definitely basic and technology is allowing us to sort of move forward with that it likewise as well to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup processes is absolutely vital that payroll and finance groups work closer together than ever um I’m always amazed when people state I’ve split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide 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 ultimately it’s payroll is an end-to-end process it’s the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more crucial to contribute to kind of the level of complexity there’s increasingly more advantages being organ or being offered by businesses across the world so again you’re just seeking to add a growing number of payments to this currently complicated landscape so if you sort of got any experience well I’m from your huge experience here and I make sure but have you got any experience in kind of real difficulties or real difficult type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments functions 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 managing the payment side of things but you know in in my viewpoint and my experience that doesn’t necessarily require to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we operate in they just make them more prompt they make them less effective and they don’t make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason that we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from an expense perspective from an impact viewpoint on workers it is definitely crucial 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 biggest damaging result on individuals’s wellness and numerous other factors if individuals aren’t paid uh I’ve constantly been astonished entering this Market type of the last five to 10 years is how little thanks the
payroll team get um so I’m unsure anybody on this type of webinar has been informed thank you for processing my payroll correctly if you have it ‘d be excellent to hear your success story and whether that’s been from all employees or not um however eventually payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it’s just a tick box workout and I think that’s how it’s seen from the external consider as well um so yeah it’s likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is a fantastic primary step um providing an end-to-end payroll solution for your workers worldwide once again I believe is another big um process once again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of organizations and lowering the number of tools platforms and bank accounts they need for their Worldwide payroll too couldn’t agree with you more and on the the front in regards to of the thank yous for getting payroll done I’ve never had a hundred countless them within a payroll cycle don’t expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they’re meant to be um I don’t think any of us are really doing that for for the thanks
anyhow we know how how important 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 easy as possible for everybody that’s involved in those processes and also so envision sorry I’m simply I was simply gon na state picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we’re speaking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I mean it ‘d be interesting to see the number of Post-it notes you got however it would certainly be an interesting task attempting to clean all those up for sure oh definitely I can’t imagine the size of my my Outlook inbox if that held true um you ‘d need days of the week to try to look through them and actually see what was going on and kind of try to return to everyone so moving on appearance why do business select to main separate checking account there are companies out there doing precisely this for specific countries and I’ve worked in a company or numerous businesses doing precisely that I can state it doesn’t constantly feel efficient and it does create more work I know we’re not purposely doing that we’re not producing extra work for anyone where we do not need to and anybody that’s dealing with 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 think lots of reasons one is it’s the standard I think people have actually got so used to we require a brand-new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it’s not a requirement so I think it’s just been the requirement and the norm the people have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other ways um to to kind of do it so I think there’s a range I believe this is a process that requires taking a look at it requires changing but eventually people are extremely stuck with what they recognize
with right um change is a hard thing we all don’t like change um so I think it’s just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having keeping multiple checking account however there’s a big quantity of intricacy goes with establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it’s set up with the best user accesses for specific individuals so the complexity is big but I think the sincere answer is change um individuals haven’t had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you’ve hit the nail on the head I believe it is understanding you know and there is an element of resistance to alter however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might almost be determined to be the next Century or two there is a lot to track and this method does present a number of obstacles um so Johnny might you tell
Expense Considerations and Papaya Global Download V27 …
The comprehensive functions of come at an expense,
Over the past few years, the workforce has actually undergone a significant change with the emergence of remote work, which has actually removed geographical restraints on hiring. This has enabled businesses to recruit talent from all over the world, permitting them to put together the best possible group for each role. As a result, staff members have gotten greater flexibility to work from home and increase their incomes without having to move to costly locations or commute cross countries. According to a 2022 survey, 87% of workers who have the option to work remotely choose to do so. The COVID-19 pandemic, combined with advancements in enterprise connection software, has actually even more accelerated the shift towards remote work, even in industries that were at first hesitant to embrace the trend.
insights are important to us and and your fellow participants so first things first though um let’s get to know everyone my name is Ian Charles and I have actually operated in payroll for the last 25 years I have actually had roles in all type of Industries retail and Charm to Aerospace in all kinds of companies start-up to matrixed environments around the world I provided leadership and strategy to populations of more than 100,000 staff members on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
International I work across business male maning and constructing external relationships supporting Enterprise clients and options and acting as an advisor I want to introduce our first Greg um visitor Greg who will kick things off by telling us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal group and really work very closely with our um HR department as well to deal with numerous legal and HR matters that turn up so really excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our mission is to set you as HR specialists complimentary to do excellent
Although Papaya Global provides combinations with different HR and finance systems, we came across some difficulties during the combination process. Customizing the software to align with our existing infrastructure proved to be more complicated than prepared for, resulting in hold-ups in the preliminary rollout.
The substantial features provided by Papaya Global come at a cost, which a few of our smaller subsidiaries discovered to be prohibitively expensive. As a worldwide organization, we had to carefully weigh the need for advanced performance against spending plan restraints.
Assistance Reaction Time:
On occasion, our teams experienced issues that needed urgent assistance. However, the reaction time from Papaya Global’s customer assistance group was not constantly as prompt as we would have liked, resulting in delays in dealing with those issues.
Our application of involved a phased approach. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This allowed us to identify and resolve integration challenges early on. As the software ended up being more implanted in our operations, we gradually expanded its use to cover our whole worldwide workforce.
The automated features streamlined our payroll processes, decreasing the time spent on manual estimations and compliance tracking. Routine training sessions and ongoing support from Papaya assisted our groups become proficient users of the software, maximizing its potential for our organization.
However, paying a labor force can be intricate. It is especially challenging for companies who employ staff across multiple nations, as they should constantly combine various data streams, manually track regional and national labor and regulations, and spend important time and resources to establish local entities in new areas. These companies are faced with suboptimal, costly choices, like opening a foreign subsidiary or working with an expert work organization, which is a regional company that employs staff members on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty hiring certified personnel, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is predicted to reach $50.4 billion by 2030.
provides a service supporting all kinds of employment. It offers an end-to-end platform, from staff member onboarding and ongoing management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, provides management of employment benefits, and guarantees information personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading expert in payroll and workforce management. She co-founded after seeing the technology space in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to attend the total webcast in order to receive your credits if you have any questions during the webcast please click the Q&A tab in your webinar controls and type the there a brand-new tab will open in your browser with the webcast study please be sure to finish it as quickly as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hey there and thank you for joining us today we’re enjoyed have you here as we start a journey of data to policy accomplishing
360 degree employee compliance where we’ll dive into the vital elements of the worker compliance management design throughout the session we’ll check out real life challenges genuine regional guidelines best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to safeguard your company and staff members while staying certified in an
Ever progressing regulatory environment in the everchanging world of organization and financing guaranteeing compliance with payroll regulations is not only essential however likewise a legal vital from the minute of working with to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance threats that have significant consequences nevertheless with a much deeper more nuanced understanding of their commitments companies can not just browse the intricate landscape but likewise proactively ensure this 360 degree compliance the webinar is created to equip you with the understanding and tools required to browse the complex Terrain of compliance whether you’re a skilled P specialist a small business owner or someone new to the field what I wish to do before we begin and I believe it’s actually crucial
In our mission to boost efficiency and precision in handling our international workforce, our multinational corporation turned to, a leading and labor force management software. The shift aimed to simplify the complex task of managing across various nations, currencies, and compliance guidelines.
Among the standout functions of is its robust compliance management system. The software immediately updates itself to adhere to ever-evolving tax and labor laws throughout several jurisdictions. This has been important in guaranteeing that our processes stay compliant in each nation of operation.
is to state that the content here is illegal recommendations it is simply for your info please consult your legal group must you have any questions or concerns in relation to anything that we’ve gone over today our secret take key takeaways by the end of the webinar will be an understanding of staff member compliance threats how to hire ly with confidence how to streamline data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
act as your hris or is kind of your core employee record um to handle that staff member life cycle throughout their Journey with you as as a staff member in addition to a payroll module we have to help you pay those employees and compensate them and benefits Administration module that allows you to assist handle the benefits you provide to your employees so truly excited to be here represent um bamb booy jar and speak about this topic um and I guess from my perspective I’ll I’ll most likely provide a lot of a concentrate on the US side of things when we speak about kind of compliance so delighted to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay international yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment expert manager.
at I handle the work Council in the US APAC EMA and Israel region I likewise act as us Council for I’m certified in New york city and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and workforce management as a Service labor force supplier to employees serving in over.
160 nations alright thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were kind of like going through the intro so it’s actually actually nice to really see in the webinar chat where everyone’s actually participating in from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to carry on inform where you are that would be definitely wonderful whilst we just await everybody else to type of like participate there we go Chicago as well well um so whil we’re doing that I’m awaiting everyone to kind of join I’ll just run us through the agenda um today we are going to talk about employing Talent new higher Info Management termination compliance and automation wow the chat has actually got really actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely everywhere which is fantastic so uh I’m hoping that we’re really going to have some truly terrific commentary and questions throughout the uh the webinar as well okay so that’s the agenda then what I want to Now cover is the the compliance and the Privacy side of things so the the Journey of an employee and their information is Papaya Global Download V27 multifaceted without fail and an.
Ever progressing relationship that begins the moment a person joins a company it continues throughout their work and Beyond this journey can be divided into k to several crucial phases whilst we’re actually you understand that they’re utilized with us so on boarding everyday operations compensation and advantages professional advancement then we get to the offboarding and even advocacy so it even takes place after the employee has left your employment throughout the journey organizations are responsible for gathering storing securing staff member information in compliance with information personal privacy guidelines no matter where it is you’re running around the globe it often involves implementing protected information management systems and making sure rigorous adherence to regional requirements to protect both the employee and the organization the development of staff member information and management c.