Payroll and payments run smoothly …Papaya Global Payroll Integrations
if they depend on the required numerous processes 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 difficulties business face when they’re making payments to employees or otherwise that’s an excellent concern I constantly toss this back and say what is it what doesn’t require to be consisted of best 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 amount of time there’s payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer’s own in-country account so there’s complexity anywhere you look right ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble incredibly payments no if but some babies 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 believe there’s now a bit more acknowledgment that payroll payments are definitely essential and innovation is enabling us to sort of move on with that it also as well to contribute to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely vital that payroll and financing groups work closer together than ever um I’m constantly surprised when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation 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 data collection all the way through to paying people 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 important to add to kind of the level of intricacy there’s increasingly more benefits being organ or being used by organizations throughout the world so again you’re simply wanting to add more and more payments to this currently complicated landscape so if you sort of got any experience well I’m from your vast experience here and I’m sure however have you got any experience in kind of real difficulties or genuine challenging kind of pay uses to play to pay people I think yeah I imply over the last well yeah a number of years I would certainly say that the larger an organization 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 info into the next function as it were that’s actually handling the payment side of things however you know in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an era 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 appropriately as you said payroll is the single greatest liability that any service has from an expense perspective from an effect viewpoint on staff members it is absolutely vital 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 damaging effect on individuals’s wellness and many other factors if individuals aren’t paid uh I’ve always been amazed coming into this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I’m not exactly sure anybody on this kind of webinar has actually 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 eventually payroll is such an important cycle all of us find out about it when it goes wrong everyone 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 things is absolutely important that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is a terrific initial step um supplying an end-to-end payroll service for your employees internationally once again I believe is another big um procedure once again lining up and ensuring you have standardization International procedures all of those things are definitely essential to success success of services and decreasing the variety of tools platforms and savings account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don’t anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they’re implied to be um I don’t believe any of us are actually doing that for for the thanks
anyhow we know how how crucial a role 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 simple as possible for everyone that’s involved in those processes and also so picture sorry I’m simply I was just gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I’m sure we’re talking about hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I suggest it ‘d be interesting to see how many Post-it notes you got but it would certainly be an intriguing task attempting to clean up 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 require days of the week to try to look through them and actually see what was going on and type of shot to get back to everybody so proceeding look why do business select to main separate checking account there are businesses out there doing exactly this for specific nations and I have actually operated in an organization or lots of companies doing exactly that I can say it does not always feel efficient and it does create more work I know we’re not intentionally doing that we’re not producing additional work for any person where we do not have to and anybody that’s managing that procedure 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 factors one is it’s the standard I believe people have got so used to we require a new bank account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it’s not a requirement so I believe it’s simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there’s a range I believe this is a procedure that requires taking a look at it needs changing but ultimately people are extremely stuck with what they’re familiar
with best um change is a difficult thing all of us do not like modification um so I believe it’s just type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having keeping multiple savings account but there’s a substantial amount of intricacy goes with setting up a bank account maintaining it ensuring it can send International transfers ensuring it’s set up with the best user accesses for private people so the intricacy is huge however I think the truthful response is change um individuals have not had the ability to change or haven’t had always the knowledge to actually make that change into alternate Solutions aside from opening a savings account I think you’ve struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or two there is a lot to keep track of and this technique does posture several difficulties um so Johnny could you inform
Expense Considerations and Papaya Global Payroll Integrations …
The comprehensive functions of come at an expense,
Over the past few decades, the workforce has undergone a substantial change with the development of remote work, which has actually gotten rid of geographical restraints on hiring. This has made it possible for businesses to hire skill from all over the world, permitting them to assemble the best possible team for each role. As a result, employees have gotten greater flexibility to work from home and increase their profits without needing to relocate to costly areas or commute long distances. According to a 2022 study, 87% of employees who have the choice to work from another location pick to do so. The COVID-19 pandemic, combined with advancements in business connectivity software application, has even more accelerated the shift towards remote work, even in industries that were initially reluctant to adopt 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’ve operated in payroll for the last 25 years I have actually had functions in all sort of Industries retail and Beauty to Aerospace in all types of services startup to matrixed environments around the world I offered management and strategy to populations of more than 100,000 workers on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
International I work throughout business man maning and constructing external relationships supporting Enterprise clients and services and serving as a consultant I wish to introduce our first Greg um guest Greg who will kick things off by telling 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 really work very closely with our um HR department too to handle various legal and HR matters that come up so actually delighted 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 free to do terrific
Although Papaya Global supplies integrations with various HR and financing systems, we came across some difficulties throughout the combination procedure. Tailoring the software to line up with our existing facilities proved to be more complex than prepared for, resulting in hold-ups in the preliminary rollout.
The extensive features offered by Papaya Global come at an expense, which some of our smaller sized subsidiaries found to be excessively costly. As a worldwide company, we needed to thoroughly weigh the need for sophisticated performance versus budget restraints.
Support Response Time:
On occasion, our teams experienced concerns that needed immediate assistance. Nevertheless, the response time from Papaya Global’s client assistance group was not constantly as prompt as we would have liked, causing delays in fixing those concerns.
Our implementation of included a phased method. We began by onboarding a few subsidiaries to test the system’s compatibility with our existing processes. This allowed us to determine and address combination difficulties early on. As the software ended up being more ingrained in our operations, we slowly broadened its use to cover our entire international workforce.
The automated features streamlined our payroll processes, minimizing the time spent on manual estimations and compliance tracking. Routine training sessions and continuous assistance from Papaya helped our teams become skilled users of the software application, maximizing its capacity for our organization.
Companies that staff member workers throughout several nations often face intricate difficulties when it concerns handling their labor force. One of the most significant difficulties is consolidating various information streams and sticking to diverse local and nationwide labor regulations, which can be both time-consuming and costly. Moreover, setting up local entities in new areas can be an expensive and suboptimal option, with options such as opening a foreign subsidiary or hiring a professional employment organization (PEO) typically charging up to 15% of the payroll. These obstacles have actually caused a substantial boost in trouble recruiting qualified workers, with 75% of employers reporting this concern in 2022, a 21% increase from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
uses an option supporting all types of employment. It supplies an end-to-end platform, from employee onboarding and continuous management to international payments and. It helps business with labor law compliance in the jurisdictions in which they operate, uses management of employment benefits, and ensures data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading professional in payroll and workforce management. She co-founded after seeing the technology gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to go to the complete webcast in order to get your credits if you have any concerns during the webcast please click on the Q&A tab in your webinar controls and type the there a new tab will open in your internet browser with the webcast study please make certain to complete it as soon as the webcast has 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 enjoyed have you here as we embark on a journey of information to regulation attaining
360 degree employee compliance where we’ll dive into the important aspects of the worker compliance management model throughout the session we’ll explore real world difficulties genuine regional guidelines finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to safeguard your company and employees while remaining compliant in an
Ever progressing regulative environment in the everchanging world of service and financing ensuring compliance with payroll policies is not only essential but likewise a legal imperative from the moment of employing to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance threats that have significant repercussions however with a deeper more nuanced understanding of their responsibilities organizations can not just navigate the elaborate landscape but also proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to navigate the complex Surface of compliance whether you’re a seasoned P professional a small business owner or somebody brand-new to the field what I would like to do before we begin and I believe it’s actually important
In our mission to enhance efficiency and accuracy in managing our global workforce, our international corporation turned to, a leading and workforce management software. The shift intended to streamline the complex task of managing across various countries, currencies, and compliance policies.
One of the standout functions of is its robust compliance management system. The software automatically updates itself to stick to ever-evolving tax and labor laws across multiple jurisdictions. This has been vital in making sure that our processes stay compliant in each nation of operation.
is to state that the material here is not legal recommendations it is merely for your information please consult your legal team ought to 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 employee compliance dangers how to employ ly with self-confidence how to simplify information management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we have actually.
work as your hris or is sort of your core staff member record um to handle that worker life process throughout their Journey with you as as a worker in addition to a payroll module we need to assist you pay those employees and compensate them and advantages Administration module that permits you to help handle the benefits you offer to your employees so actually thrilled to be here represent um bamb booy jar and speak about this subject um and I guess from my perspective I’ll I’ll most likely offer a lot of a focus on the United States side of things when we speak about kind of compliance so pleased to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a little bit about papay international yes absolutely thank you Ian hello everybody I’m Gina dorelis I’m the Employment expert manager.
at I manage the employment Council in the US APAC EMA and Israel region I also function as us Council for I’m licensed in New York and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and workforce management as a Service work force supplier to workers serving in over.
160 countries alright thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the intro so it’s really 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 wish to continue inform where you are that would be absolutely fantastic whilst we simply await everybody else to type of like join in there we go Chicago also well um so whil we’re doing that I’m waiting on everybody to kind of join I’ll just run us through the agenda um today we are going to go over working with Talent new higher Information Management termination compliance and automation wow the chat has got really actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over which is great so uh I’m hoping that we’re really going to have some really terrific commentary and questions throughout the uh the webinar too okay so that’s the agenda then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their data is Papaya Global Payroll Integrations complex without fail and an.
Ever developing relationship that begins the minute an individual signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to several crucial phases whilst we’re really you understand that they’re employed with us so on boarding day-to-day operations compensation and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the employee has left your work throughout the journey companies are accountable for gathering keeping securing worker data in compliance with data personal privacy regulations no matter where it is you’re running around the world it typically involves executing protected data management systems and guaranteeing strict adherence to regional requirements to secure both the employee and the company the development of worker data and management c.