Payroll and payments run smoothly …Papaya Global Report Designer Tutorial
if they rely on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties service face when they’re making payments to workers or otherwise that’s a great concern I constantly throw this back and say what is it what does not require to be consisted of ideal and what does
it require to be considered there’s varying 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 have to pay from the customer’s own in-country account so there’s complexity wherever you look ideal ultimately building a knowledge base is absolutely vital 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 in between fintech and payroll it’s closer than ever I think there’s now a bit more acknowledgment that payroll payments are absolutely essential and innovation is permitting us to kind of move forward with that it also too to add to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance groups work more detailed together than ever um I’m constantly surprised when people say I’ve split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn’t operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it’s payroll is an end-to-end process it’s the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more crucial to contribute to kind of the level of intricacy there’s a growing number of advantages being organ or being offered by organizations throughout the world so once again you’re simply aiming to add more and more payments to this currently intricate landscape so if you sort of got any experience well I’m from your vast experience here and I make certain but have you got any experience in kind of real challenges or real tough sort of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that’s actually handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we run 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 an age of tech and a period that you know that we are working in today there is no reason we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single biggest liability that any organization has from an expense perspective from an impact perspective on workers it is absolutely vital that it’s done correctly and on time so what we imply 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 detrimental impact on individuals’s wellness and lots of other aspects if people aren’t paid uh I’ve constantly been amazed coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it’s from all workers or not. Payroll is an essential cycle, and people only notice when things go wrong. However, when things go right, it’s seen as just a routine task. This is how it’s perceived externally as well. Therefore, it is important to ensure that tasks like Wi-Fi Global and other essential matters are done properly. Using the very first International Payments first payroll payment solution is a fantastic initial step towards providing a detailed payroll service for employees worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and savings account essential for global payroll are essential factors in achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as planned. Eventually, we don’t do it for the thankfulness.
anyhow we understand 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 everybody that’s involved in those processes and also so think of sorry I’m simply I was simply gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I’m sure we’re discussing hundreds of thousands potentially Millions think of getting that lots of thank you notes um I mean it ‘d be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job trying to clean up all those up for sure oh absolutely I can’t imagine the size of my my Outlook inbox if that held true um you ‘d need days of the week to attempt to check out them and actually see what was going on and kind of try to return to everybody so proceeding appearance why do business pick to primary different checking account there are services out there doing precisely this for particular nations and I’ve operated in an organization or many services doing precisely that I can state it doesn’t always feel efficient and it does create more work I know we’re not intentionally doing that we’re not developing extra work for anybody where we do not need to and anyone that’s handling that procedure I ‘d be interested to hear your thoughts Johnny why do you think that we’re doing that in in the in the amount that we are I think lots of reasons one is it’s the requirement I believe people have got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it’s not a requirement so I think it’s simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there’s a range I believe this is a procedure that needs looking at it requires changing but ultimately people are really stuck with what they recognize
with best um change is a tough thing we all don’t like change um so I believe it’s just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having keeping multiple bank accounts but there’s a big amount of complexity goes with establishing a checking account preserving it guaranteeing it can send International transfers ensuring it’s set up with the ideal user accesses for specific individuals so the intricacy is huge but I think the truthful answer is change um people haven’t had the ability to change or haven’t had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you’ve struck the nail on the head I think it is understanding you know and there is a component of resistance to change but we’ve constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century or so there is a lot to keep an eye on and this approach does position several challenges um so Johnny might you tell
Cost Factors to consider and Papaya Global Report Designer Tutorial …
The extensive functions of come at an expense,
Over the past few years, the labor force has actually undergone a considerable transformation with the development of remote work, which has actually removed geographical restrictions on hiring. This has allowed businesses to recruit talent from all over the world, allowing them to put together the very best possible group for each role. As a result, staff members have actually acquired higher flexibility to work from home and increase their revenues without having to transfer to pricey areas or commute cross countries. According to a 2022 survey, 87% of workers who have the choice to work remotely select to do so. The COVID-19 pandemic, combined with advancements in business connectivity software, has actually further accelerated the shift towards remote work, even in industries that were at first hesitant to embrace the pattern.
insights are important to us and and your fellow guests so first things initially though um let’s be familiar with everybody my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had functions in all sort of Industries retail and Charm to Aerospace in all kinds of companies startup to matrixed environments around the world I provided management and strategy to populations of more than 100,000 staff members on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
International I work across business guy maning and constructing external relationships supporting Enterprise customers and options and serving as a consultant I ‘d like to introduce our first Greg um visitor 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 said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal team and really work very closely with our um HR department also to deal with different legal and HR matters that turn up so truly delighted to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our mission is to set you as HR specialists complimentary to do great
Although Papaya Global provides integrations with various HR and financing systems, we encountered some obstacles throughout the integration procedure. Tailoring the software to line up with our existing infrastructure proved to be more intricate than expected, leading to hold-ups in the initial rollout.
The comprehensive functions used by Papaya Global come at an expense, which a few of our smaller sized subsidiaries discovered to be excessively expensive. As an international organization, we had to thoroughly weigh the need for sophisticated functionality versus budget constraints.
Assistance Reaction Time:
On occasion, our teams experienced concerns that required urgent support. Nevertheless, the reaction time from Papaya Global’s consumer assistance group was not constantly as prompt as we would have liked, leading to hold-ups in resolving those issues.
Our execution of included a phased approach. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This enabled us to recognize and address integration challenges early on. As the software application ended up being more instilled in our operations, we slowly expanded its usage to cover our entire global labor force.
The automated features structured our payroll processes, reducing the time spent on manual computations and compliance tracking. Routine training sessions and continuous support from Papaya assisted our teams end up being competent users of the software application, maximizing its potential for our organization.
Nevertheless, paying a workforce can be complicated. It is especially challenging for companies who employ staff throughout multiple countries, as they need to continuously consolidate various information streams, manually track regional and nationwide labor and policies, and invest valuable time and resources to establish local entities in brand-new locations. These business are faced with suboptimal, pricey alternatives, like opening a foreign subsidiary or working with an expert work company, which is a regional firm that works with workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported problem hiring qualified workers, a boost 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.
offers a service supporting all types of employment. It supplies an end-to-end platform, from employee onboarding and ongoing management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they operate, uses management of work benefits, and makes sure information personal 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 workforce management. She co-founded after seeing the technology gap in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make certain to go to the complete webcast in order to get your credits if you have any concerns throughout the webcast please click on the Q&A tab in your webinar controls and type the there a new tab will open in your browser with the webcast survey please be 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 discussion hello and thank you for joining us today we’re enjoyed have you here as we embark on a journey of data to guideline accomplishing
360 degree staff member compliance where we’ll dive into the essential aspects of the employee compliance management model throughout the session we’ll check out real world challenges 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 secure your organization and employees while remaining certified in an
Ever developing regulative environment in the everchanging world of company and financing guaranteeing compliance with payroll guidelines is not just important however likewise a legal crucial from the moment of hiring to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance risks that have far-reaching repercussions nevertheless with a deeper more nuanced understanding of their obligations organizations can not just navigate the detailed landscape however likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools required to browse the complex Terrain of compliance whether you’re a skilled P expert a small company owner or someone new to the field what I wish to do before we begin and I think it’s actually essential
In our quest to boost effectiveness and accuracy in managing our international labor force, our international corporation turned to, a leading and labor force management software. The shift aimed to streamline the complex job of handling across different nations, currencies, and compliance guidelines.
One of the standout functions of is its robust compliance management system. The software application automatically updates itself to comply with ever-evolving tax and labor laws throughout several jurisdictions. This has been important in making sure that our procedures stay compliant in each country of operation.
is to state that the material here is not legal suggestions it is just for your details please consult your legal group needs to you have any questions or concerns in relation to anything that we’ve discussed today our secret take essential takeaways by the end of the webinar will be an understanding of employee compliance dangers how to hire ly with 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 have actually.
act as your hris or is sort of your core employee record um to handle that staff member life process throughout their Journey with you as as a worker in addition to a payroll module we need to assist you pay those workers and compensate them and benefits Administration module that allows you to assist manage the benefits you provide to your staff members so truly excited to be here represent um bamb booy container and speak about this subject um and I guess from my perspective I’ll I’ll probably provide a great deal of a concentrate on the US side of things when we talk about type of compliance so happy to be here thanks for having me Ian fine 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 expert supervisor.
at I handle the work 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 make sure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service labor force company 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 mention as we were sort of like going through the introduction so it’s really actually great to in fact see in the webinar chat where everybody’s actually attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to continue tell where you are that would be absolutely fantastic whilst we just wait for everyone else to type of like join in there we go Chicago as well well um so whil we’re doing that I’m waiting on everybody to sort of join I’ll just run us through the program um today we are going to discuss employing Talent new greater Info Management termination compliance and automation wow the chat has actually got truly truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is wonderful so uh I’m hoping that we’re really going to have some truly excellent commentary and questions throughout the uh the webinar too all right 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 worker and their data is Papaya Global Report Designer Tutorial complex without fail and an.
Ever developing relationship that begins the minute an individual signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to several key stages whilst we’re really you understand that they’re utilized with us so on boarding day-to-day operations payment and benefits expert development then we get to the offboarding and even advocacy so it even takes place after the staff member has left your employment throughout the journey organizations are accountable for collecting keeping protecting worker information in compliance with information privacy guidelines no matter where it is you’re operating around the globe it typically includes implementing safe information management systems and making sure rigorous adherence to local requirements to protect both the employee and the company the development of worker information and management c.