Payroll and payments run smoothly …Papaya Global Pocket Guide 2018 2019
if they rely on the required numerous 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 business face when they’re paying to workers or otherwise that’s an excellent concern I constantly throw this back and state what is it what doesn’t require to be included ideal and what does
it require to be considered there’s varying Bank information so the length of an eye band a swift an account number routing code per country there’s payment amount of time there’s payment abilities 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 customer’s own in-country account so there’s complexity wherever you look ideal eventually building a knowledge base is absolutely important but all over you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 fundamental and technology is allowing us to sort of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely necessary that payroll and financing teams work better together than ever um I’m constantly impressed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work 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 often split and cut up um eventually it’s payroll is an end-to-end process it’s the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of essential to add to kind of the level of complexity there’s a growing number of advantages being organ or being used by companies across the world so again you’re just looking to add a growing number of payments to this already intricate landscape so if you type 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 challenging kind of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding information into the next function as it were that’s in fact managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we need to develop extra handoffs in the processes 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 age of tech and an age that you know that we are operating in today there is no reason that we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any service has from a cost point of view from an impact 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 most significant detrimental result on people’s wellness and many other factors if individuals aren’t paid uh I’ve constantly been amazed entering this Market type of the last five to ten years is how little thanks the
payroll group get um so I’m uncertain anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it ‘d be terrific to hear your success story and whether that’s been from all workers or not um but ultimately payroll is such a crucial cycle all of us find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it’s simply a tick box exercise and I think that’s how it’s seen from the external view as well um so yeah it’s likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done properly so leveraging the first International Payments first payroll payment option is a fantastic initial step um offering an end-to-end payroll option for your employees globally again I believe is another huge um process once again aligning and ensuring you have standardization International processes all of those things are absolutely essential to success success of businesses and reducing the variety of tools platforms and checking account 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 have actually never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they’re implied to be um I don’t believe any of us are actually doing that for for the thanks
anyway 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 involved in those processes and likewise so think of sorry I’m just 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 discussing numerous thousands possibly Millions imagine getting that many thank you notes um I mean it ‘d be interesting to see how many Post-it notes you got however it would certainly be an intriguing task trying to clean up all those up for sure oh absolutely I can’t picture 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 actually see what was going on and type of shot to get back to everyone so moving on look why do companies choose to primary separate savings account there are businesses out there doing exactly this for particular countries and I’ve worked in an organization or many organizations doing precisely that I can say it does not always feel efficient and it does develop more work I understand we’re not purposely doing that we’re not producing additional work for anybody where we don’t have to and any person that’s dealing with that procedure I ‘d be interested to hear your ideas Johnny why do you think that we’re doing that in in the in the amount that we are I believe lots of factors one is it’s the requirement I think individuals have got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it’s not a requirement so I believe it’s just been the requirement and the norm the people have embraced and continue to do over years and years passed by to contribute 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 variety I think this is a process that requires looking at it needs changing however eventually individuals are really stuck to what they’re familiar
with best um change is a tough thing we all don’t like modification um so I think it’s simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having preserving multiple bank accounts but there’s a big quantity of intricacy chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it’s established with the best user accesses for individual people so the complexity is huge but I believe the sincere answer is modification um individuals have not been able to alter or have not had always the understanding to truly make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to change but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century or so there is a lot to keep an eye on and this technique does position numerous obstacles um so Johnny could you tell
Cost Factors to consider and Papaya Global Pocket Guide 2018 2019 …
The comprehensive features of come at a cost,
Current years have seen a remarkable modification to the workforce as the rise of remote work has actually broken down geographical barriers to hiring. Companies can now employ staff from anywhere worldwide, allowing them to access the very best readily available talent for any given role. This provides workers more freedom to work from home and increase their income without transferring to pricey locations or travelling cross countries. A 2022 study found that 87% of employees who have the opportunity to work remotely take that opportunity. The break out of COVID-19, in conjunction with brand-new enterprise connectivity software application, accelerated the transfer to remote work, consisting of in industries previously reluctant to welcome the pattern.
insights are important to us and and your fellow guests so first things first though um let’s get to know everybody my name is Ian Charles and I’ve operated in payroll for the last 25 years I have actually had roles in all type of Industries retail and Appeal to Aerospace in all types of organizations start-up to matrixed environments across the globe I provided management and method 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
Worldwide I work across business man maning and constructing external relationships supporting Business customers and options and functioning as an advisor I want to introduce our first Greg um visitor Greg who will kick things off by informing us um who he is and a 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 business counsil at bambo HR so I lead our internal legal group and in fact work really carefully with our um HR department also to handle numerous legal and HR matters that turn up so actually excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our objective is to set you as HR professionals free to do great
Although Papaya Global offers combinations with numerous HR and financing systems, we encountered some difficulties during the combination process. Tailoring the software to align with our existing facilities proved to be more intricate than prepared for, leading to delays in the initial rollout.
The substantial functions provided by Papaya Global come at a cost, which some of our smaller subsidiaries found to be excessively costly. As a global company, we had to thoroughly weigh the requirement for innovative functionality against budget restraints.
Assistance Response Time:
On occasion, our teams experienced issues that needed immediate help. Nevertheless, the reaction time from Papaya Global’s customer assistance group was not constantly as timely as we would have liked, leading to delays in resolving those problems.
Our application of involved a phased technique. We started by onboarding a few subsidiaries to test the system’s compatibility with our existing procedures. This permitted us to determine and resolve combination challenges early on. As the software ended up being more instilled in our operations, we gradually broadened its usage to cover our entire global workforce.
The automated functions structured our payroll processes, reducing the time invested in manual calculations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our teams become skilled users of the software application, optimizing its capacity for our organization.
However, paying a labor force can be complex. It is especially challenging for business who employ personnel across numerous countries, as they must continuously combine various information streams, by hand track local and national labor and policies, and invest important time and resources to establish local entities in brand-new areas. These business are confronted with suboptimal, expensive options, like opening a foreign subsidiary or employing a professional employment organization, which is a local firm that hires employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported trouble recruiting certified workers, a boost of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers a solution supporting all types of employment. It offers an end-to-end platform, from worker onboarding and ongoing management to global payments and. It helps business with labor law compliance in the jurisdictions in which they run, uses management of employment advantages, and makes sure data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading professional in payroll and labor force management. She co-founded after seeing the innovation gap in global.
papaya this webcast has actually 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 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 survey please make sure to complete it as quickly as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hey there and thank you for joining us today we’re thrilled to have you here as we embark on a journey of data to guideline attaining
360 degree employee compliance where we’ll dive into the vital elements of the employee compliance management design throughout the session we’ll explore real world difficulties genuine regional regulations finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to secure your company and workers while remaining compliant in an
Ever developing regulatory environment in the everchanging world of organization and financing ensuring compliance with payroll guidelines is not only crucial but likewise a legal vital from the moment of employing to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance risks that have significant repercussions however with a much deeper more nuanced understanding of their responsibilities companies can not only browse the intricate landscape however also proactively ensure this 360 degree compliance the webinar is created to equip you with the understanding and tools essential to navigate the complex Terrain of compliance whether you’re a skilled P specialist a small company owner or somebody new to the field what I would like to do before we start and I believe it’s actually important
In our quest to enhance effectiveness and accuracy in managing our worldwide workforce, our international corporation turned to, a leading and workforce management software application. The shift intended to simplify the complex task of managing across various nations, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software instantly updates itself to adhere to ever-evolving tax and labor laws across several jurisdictions. This has actually been important in making sure that our procedures remain certified in each nation of operation.
is to state that the material here is not legal guidance it is merely for your info please consult your legal group ought to you have any concerns or issues in relation to anything that we have actually gone over today our secret take essential takeaways by the end of the webinar will be an understanding of worker compliance threats how to hire ly with self-confidence how to streamline data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
function as your hris or is kind of your core employee record um to handle that worker life cycle throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those workers and compensate them and advantages Administration module that enables you to help manage the benefits you offer to your workers so actually delighted to be here represent um bamb booy jar and speak about this topic um and I think from my point of view I’ll I’ll probably supply a great deal of a concentrate on the United States side of things when we speak about sort of compliance so happy to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay international yes definitely thank you Ian hi everybody I’m Gina dorelis I’m the Employment specialist supervisor.
at I manage the employment Council in the US APAC EMA and Israel area I also serve as us Council for I’m licensed in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and workforce management as a Service work force company to employees serving in over.
160 countries okay thank you so both I feel totally underqualified sitting here with you both well I forgot to discuss as we were type of like going through the intro so it’s really truly nice to actually 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 continue inform where you are that would be definitely wonderful whilst we simply wait for everyone else to kind of like participate there we go Chicago as well well um so whil we’re doing that I’m waiting for everyone to sort of join I’ll just run us through the agenda um today we are going to talk about working with Skill brand-new greater Info Management termination compliance and automation wow the chat has actually got truly really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is fantastic so uh I’m hoping that we’re really going to have some truly great commentary and questions throughout the uh the webinar also fine so that’s the program then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their information is Papaya Global Pocket Guide 2018 2019 multifaceted without fail and an.
Ever progressing relationship that starts the moment an individual joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous essential phases whilst we’re in fact you know that they’re employed with us so on boarding day-to-day operations settlement and benefits professional development then we get to the offboarding and even advocacy so it even happens after the worker has left your work throughout the journey organizations are responsible for collecting keeping safeguarding employee information in compliance with data privacy regulations no matter where it is you’re operating around the globe it typically involves implementing safe information management systems and making sure stringent adherence to local requirements to safeguard both the worker and the organization the advancement of employee data and management c.