Payroll and payments run efficiently …Papaya Global Certification Level 1
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 challenges service face when they’re making payments to employees or otherwise that’s a good concern I constantly throw this back and say what is it what doesn’t need to be included best and what does
it need to be considered there’s differing Bank details so the length of an eye band a swift an account number routing code per nation there’s payment timespan 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 customer’s own in-country account so there’s intricacy any place you look best eventually constructing a knowledge base is absolutely critical however all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it’s closer than ever I believe there’s now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to kind of move on with that it also as well to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance groups work closer together than ever um I’m constantly impressed when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from computation 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 eventually it’s payroll is an end-to-end procedure it’s the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to contribute to kind of the level of intricacy there’s increasingly more advantages being organ or being used by businesses throughout the world so once again you’re just seeking to add more and more payments to this currently complex landscape so if you kind of got any experience well I’m from your huge experience here and I’m sure but have you got any experience in kind of genuine obstacles or genuine difficult type of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding information into the next function as it were that’s actually handling the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they don’t make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason that we are still making this as tough as it requires to be agreed and rightly as you said payroll is the single biggest liability that any company has from an expense viewpoint from an effect viewpoint on staff members it is definitely important that it’s done correctly and on time so what we suggest 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 destructive impact on people’s well-being and numerous other aspects if people aren’t paid uh I have actually constantly been amazed entering 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 actually been told thank you for processing my payroll properly if you have it ‘d be terrific to hear your success story and whether that’s been from all staff members or not um however eventually payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it’s just a tick box workout and I believe that’s how it’s seen from the external deem well um so yeah it’s likewise like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment option is a terrific primary step um offering an end-to-end payroll solution for your staff members internationally again I think is another big um procedure again lining up and guaranteeing you have standardization Global procedures all of those things are definitely key to success success of businesses and reducing the number 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 have actually 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 suggested to be um I do not believe any of us are really doing that for for the thanks
anyhow we know how how crucial 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 associated with those procedures and likewise so imagine sorry I’m just I was just gon na say picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we’re talking about hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I suggest it ‘d be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task trying to clean all those up for sure oh definitely I can’t think of the size of my my Outlook inbox if that was the case um you ‘d need days of the week to attempt to browse them and really see what was going on and kind of shot to get back to everyone so moving on look why do companies choose to primary different checking account there are services out there doing exactly this for particular countries and I’ve operated in a service or numerous services doing exactly that I can say it doesn’t always feel effective and it does develop more work I understand we’re not deliberately doing that we’re not producing additional work for anybody where we don’t have to and anyone that’s handling that process I ‘d be interested to hear your ideas Johnny why do you believe that we’re doing that in in the in the quantity that we are I believe many reasons one is it’s the requirement I think individuals have got so used to we need a brand-new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it’s not a requirement so I think it’s just been the standard and the norm the people have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I believe there’s a range I believe this is a procedure that requires taking a look at it needs altering however eventually individuals are very stuck to what they recognize
with right um modification is a challenging thing all of us don’t like change um so I believe it’s just kind of moving far from the standard as we’ve said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having keeping several checking account but there’s a huge quantity of complexity chooses establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it’s set up with the right user accesses for specific people so the complexity is huge but I believe the truthful answer is change um people have not been able to change or haven’t had always the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we’ve always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to keep track of and this method does position several difficulties um so Johnny could you tell
Cost Considerations and Papaya Global Certification Level 1 …
The thorough functions of come at a cost,
Current decades have actually seen a dramatic modification to the labor force as the rise of remote work has broken down geographical barriers to hiring. Businesses can now hire personnel from anywhere worldwide, enabling them to access the very best available skill for any provided role. This gives workers more liberty to work from home and increase their income without transferring to expensive areas or commuting fars away. A 2022 survey discovered that 87% of workers who have the possibility to work remotely take that opportunity. The break out of COVID-19, in conjunction with brand-new enterprise connection software, accelerated the relocate to remote work, consisting of in industries formerly hesitant to embrace the pattern.
insights are valuable to us and and your fellow guests so first things initially though um let’s be familiar with everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I have actually had roles in all type of Industries retail and Beauty to Aerospace in all types of services start-up to matrixed environments across the globe I provided leadership and strategy to populations of more than 100,000 staff members on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
International I work across the business man maning and building external relationships supporting Business clients and options and acting as a consultant I wish to present our first Greg um guest Greg who will kick things off by informing us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian stated my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal team and actually work very closely with our um HR department also to manage different legal and HR matters that show up so actually excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our objective is to set you as HR experts complimentary to do excellent
Although Papaya Global offers combinations with different HR and financing systems, we encountered some hurdles throughout the integration process. Tailoring the software to align with our existing facilities proved to be more intricate than expected, resulting in delays in the initial rollout.
The extensive functions provided by Papaya Global come at a cost, which some of our smaller subsidiaries discovered to be excessively costly. As an international company, we needed to carefully weigh the need for innovative functionality versus budget restrictions.
Support Action Time:
On occasion, our teams experienced concerns that required immediate help. However, the reaction time from Papaya Global’s client assistance team was not always as timely as we would have liked, causing hold-ups in resolving those issues.
Our execution of included a phased technique. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This allowed us to identify and address combination difficulties early on. As the software ended up being more implanted in our operations, we gradually expanded its use to cover our whole international labor force.
The automated features structured our payroll processes, reducing the time spent on manual calculations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our groups end up being competent users of the software, maximizing its potential for our organization.
Nevertheless, paying a labor force can be intricate. It is especially challenging for business who employ personnel throughout several nations, as they must continuously combine different information streams, manually track local and national labor and policies, and invest important time and resources to establish local entities in brand-new areas. These companies are faced with suboptimal, pricey choices, like opening a foreign subsidiary or hiring a professional employment 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 qualified personnel, an increase of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
offers a solution supporting all forms of work. It supplies an end-to-end platform, from worker onboarding and continuous management to international payments and. It helps business with labor law compliance in the jurisdictions in which they run, offers management of employment advantages, and ensures 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 labor force management. She co-founded after seeing the innovation space in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to participate in the complete 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 new tab will open in your web browser with the webcast survey please make certain to finish it as soon as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hi and thank you for joining us today we’re thrilled to have you here as we embark on a journey of information to guideline accomplishing
360 degree employee compliance where we’ll dive into the essential elements of the staff member compliance management model throughout the session we’ll explore real life obstacles genuine local guidelines best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to safeguard your organization and workers while remaining compliant in an
Ever developing regulative environment in the everchanging world of business and financing making sure compliance with payroll policies is not only important but also a legal imperative from the minute of hiring to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance threats that have significant consequences nevertheless with a deeper more nuanced understanding of their obligations companies can not only navigate the detailed landscape but likewise proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools necessary to navigate the complex Surface of compliance whether you’re an experienced P specialist a small business owner or someone new to the field what I would like to do before we begin and I think it’s actually crucial
In our quest to boost effectiveness and precision in handling our global workforce, our multinational corporation turned to, a leading and workforce management software application. The shift aimed to streamline the complex job of handling across numerous nations, currencies, and compliance policies.
One of the standout features of is its robust compliance management system. The software application automatically updates itself to stick to ever-evolving tax and labor laws across numerous jurisdictions. This has actually been invaluable in guaranteeing that our processes remain certified in each nation of operation.
is to state that the material here is illegal suggestions it is just for your info please consult your legal team must you have any concerns or concerns in relation to anything that we have actually gone over today our key take crucial takeaways by the end of the webinar will be an understanding of staff member compliance risks how to hire ly with confidence how to simplify information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.
function as your hris or is type of your core worker record um to manage that staff member life process throughout their Journey with you as as a staff member in addition to a payroll module we have to help you pay those staff members and compensate them and advantages Administration module that allows you to help handle the benefits you supply to your employees so actually delighted to be here represent um bamb booy jar and discuss this topic um and I guess from my point of view I’ll I’ll probably supply a lot of a focus on the US side of things when we talk about sort 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 present yourself and inform the audience a little bit about papay worldwide yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Employment professional supervisor.
at I manage the employment Council in the US APAC EMA and Israel area I also act as us Council for I’m accredited in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and labor force management as a Service work force service provider to employees serving in over.
160 countries fine thank you so both I feel entirely underqualified sitting here with you both well I forgot to point out as we were type of like going through the intro so it’s actually really good to in fact see in the webinar chat where everybody’s really participating in from today I can see that we have people in Las Vegas and Indiana currently so if you want to carry on inform where you are that would be absolutely wonderful whilst we just wait for everybody else to type of like take part there we go Chicago as well well um so whil we’re doing that I’m waiting on everyone to kind of join I’ll simply run us through the agenda um today we are going to go over working with Talent brand-new greater Information Management termination compliance and automation wow the chat has actually got really really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is wonderful so uh I’m hoping that we’re really going to have some actually great commentary and questions throughout the uh the webinar as well all right so that’s the program then what I wish 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 Certification Level 1 complex without fail and an.
Ever progressing relationship that begins the moment an individual signs up with an organization it continues throughout their work and Beyond this journey can be divided into k to a number of crucial phases whilst we’re in fact you understand that they’re employed with us so on boarding daily operations payment and advantages professional advancement then we get to the offboarding and even advocacy so it even occurs after the employee has actually left your employment throughout the journey organizations are accountable for gathering keeping safeguarding employee information in compliance with data privacy guidelines no matter where it is you’re running worldwide it typically involves executing safe and secure data management systems and ensuring stringent adherence to local requirements to safeguard both the staff member and the organization the evolution of staff member data and management c.