Payroll and payments run smoothly …Go Papaya Global Payroll
if they rely on the essential numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges service face when they’re paying to staff members or otherwise that’s a good concern I always toss this back and say what is it what doesn’t need to be included right and what does
it require to be thought of there’s varying Bank details 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 have to pay from the client’s own in-country account so there’s complexity anywhere you look right eventually building a knowledge base is absolutely critical however everywhere you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it’s closer than ever I believe there’s now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to sort of move on with that it also as well to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing groups work closer together than ever um I’m constantly impressed when people say I’ve divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split 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 eventually it’s payroll is an end-to-end process it’s the point of data collection all the way through to paying people any place they are but also 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 sort of the level of intricacy there’s a growing number of advantages being organ or being provided by companies throughout the world so once again you’re just looking to add increasingly more 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 certain but have you got any experience in kind of real difficulties or real challenging type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups 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 doesn’t necessarily require to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we operate in they just make them more timely they make them less efficient and they don’t make them what they require to be in in an era of tech and an era that you know that we are working in today there is no reason that we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single most significant liability that any service has from an expense perspective 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 have to be done right it has the biggest harmful impact on individuals’s well-being and numerous other aspects if individuals aren’t paid uh I have actually constantly been astonished coming into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I’m uncertain anyone on this kind of webinar has been informed thank you for processing my payroll correctly if you have it ‘d be fantastic to hear your success story and whether that’s been from all staff members or not um however ultimately payroll is such an essential cycle we all hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it’s simply a tick box exercise and I think 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 stuff is absolutely important that all of this stuff is done properly so leveraging the first International Payments very first payroll payment solution is an excellent initial step um offering an end-to-end payroll option for your workers internationally again I believe is another big um procedure once again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of businesses and minimizing the number of tools platforms and bank accounts they need for their International 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 thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints 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 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 associated with those processes and likewise so think of sorry I’m simply I was just gon na state imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we’re talking about hundreds of thousands potentially Millions envision getting that many thank you notes um I suggest it ‘d be interesting to see how many Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh definitely I can’t think of the size of my my Outlook inbox if that held true um you ‘d require days of the week to try to check out them and in fact see what was going on and kind of shot to return to everyone so moving on appearance why do business select to main different savings account there are services out there doing exactly this for specific countries and I’ve operated in a company or lots of companies doing precisely that I can say it doesn’t constantly feel efficient and it does develop more work I know we’re not intentionally doing that we’re not developing additional work for anyone where we do not have to and anybody 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 quantity that we are I think lots of reasons one is it’s the requirement I think people have got so used to we require a new bank account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it’s not a requirement so I believe it’s just been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other ways um to to type of do it so I think there’s a range I believe this is a process that needs taking a look at it requires changing however ultimately people are very stuck with what they recognize
with right um change is a difficult thing we all do not like modification um so I think it’s just kind of moving away from the norm as we’ve said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having keeping several bank accounts however there’s a huge amount of complexity opts for setting up a bank account preserving it guaranteeing it can send out International transfers guaranteeing it’s set up with the right user accesses for specific individuals so the intricacy is huge but I believe the sincere response is change um individuals haven’t had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to track and this method does posture several challenges um so Johnny might you inform
Expense Factors to consider and Go Papaya Global Payroll …
The detailed features of come at a cost,
Recent decades have seen a remarkable change to the labor force as the rise of remote work has actually broken down geographical barriers to employing. Companies can now work with personnel from anywhere worldwide, allowing them to access the very best available skill for any offered role. This offers employees more freedom to work from home and increase their earnings without transferring to pricey locations or travelling cross countries. A 2022 study discovered that 87% of workers who have the possibility to work remotely take that chance. The break out of COVID-19, in conjunction with brand-new enterprise connection software, sped up the move to remote work, including in industries previously hesitant to welcome the pattern.
insights are valuable to us and and your fellow participants so first things initially though um let’s learn more about everybody my name is Ian Charles and I have actually worked in payroll for the last 25 years I have actually had functions in all type of Industries retail and Charm to Aerospace in all types of services startup to matrixed environments around the world I supplied 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 male maning and constructing external relationships supporting Enterprise customers and services and acting as a consultant I ‘d like to introduce our very first Greg um guest 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 corporate counsil at bambo HR so I lead our in-house legal team and really work very closely with our um HR department also to manage various legal and HR matters that come up so truly thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our objective is to set you as HR professionals free to do excellent
Although Papaya Global offers combinations with numerous HR and finance systems, we encountered some obstacles during the integration procedure. Customizing the software to line up with our existing facilities proved to be more intricate than expected, leading to delays in the initial rollout.
The extensive functions offered by Papaya Global come at a cost, which a few of our smaller subsidiaries discovered to be excessively costly. As an international company, we needed to carefully weigh the need for advanced functionality against budget restraints.
Support Response Time:
On occasion, our teams experienced issues that needed immediate support. However, the action time from Papaya Global’s customer assistance group was not constantly as prompt as we would have liked, leading to delays in resolving those issues.
Our execution of involved a phased approach. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This enabled us to identify and deal with integration challenges early on. As the software application became more instilled in our operations, we slowly expanded its use to cover our entire international workforce.
The automated functions structured our payroll procedures, lowering the time invested in manual estimations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our teams end up being skilled users of the software application, maximizing its capacity for our organization.
Companies that staff member workers across numerous countries typically deal with complex obstacles when it comes to managing their workforce. One of the most significant obstacles is combining different data streams and adhering to varied local and national labor policies, which can be both time-consuming and costly. Additionally, establishing regional entities in new regions can be an expensive and suboptimal choice, with options such as opening a foreign subsidiary or hiring a professional work company (PEO) often charging up to 15% of the payroll. These obstacles have actually led to a substantial increase in difficulty recruiting certified personnel, with 75% of companies reporting this concern in 2022, a 21% boost from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
offers a service supporting all forms of employment. It offers an end-to-end platform, from worker onboarding and ongoing management to global payments and. It assists companies with labor law compliance in the jurisdictions in which they run, 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 expert in payroll and labor force management. She co-founded after seeing the technology gap in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure 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 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 hey there and thank you for joining us today we’re enjoyed have you here as we start a journey of information to policy accomplishing
360 degree employee compliance where we’ll dive into the important aspects of the worker compliance management model throughout the session we’ll check out real world obstacles genuine local policies best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your company and workers while staying certified in an
Ever evolving regulative environment in the everchanging world of company and finance making sure compliance with payroll guidelines is not only important however likewise a legal crucial from the moment of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance threats that have far-reaching repercussions nevertheless with a much deeper more nuanced understanding of their responsibilities organizations can not just navigate the elaborate landscape however likewise proactively ensure this 360 degree compliance the webinar is created to equip you with the understanding and tools necessary to browse the complex Surface of compliance whether you’re a skilled P expert a small business owner or someone brand-new to the field what I wish to do before we start and I believe it’s actually important
In our quest to improve efficiency and precision in managing our global labor force, our international corporation turned to, a leading and workforce management software application. The transition aimed to simplify 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 instantly updates itself to abide by ever-evolving tax and labor laws across numerous jurisdictions. This has actually been vital in ensuring that our procedures remain certified in each nation of operation.
is to state that the content here is illegal recommendations it is just for your info please consult your legal team ought to you have any questions or issues in relation to anything that we have actually talked about 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 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.
work as your hris or is sort of your core staff member record um to manage that employee life cycle throughout their Journey with you as as a staff member in addition to a payroll module we have to assist you pay those staff members and compensate them and benefits Administration module that enables you to help manage the advantages you offer to your staff members so truly excited to be here represent um bamb booy jar and talk about this subject um and I think from my viewpoint I’ll I’ll most likely supply a great deal of a concentrate on the US side of things when we speak about sort of compliance so happy 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 little bit about papay global yes definitely thank you Ian hello everybody I’m Gina dorelis I’m the Employment specialist supervisor.
at I manage the employment Council in the US APAC EMA and Israel region I likewise serve as us Council for I’m certified in New York and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service labor force service provider to workers serving in over.
160 nations okay thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were type of like going through the introduction so it’s actually really good to actually see in the webinar chat where everybody’s in fact going to from today I can see that we have people in Las Vegas and Indiana already so if you want to carry on inform where you are that would be absolutely wonderful whilst we simply await everybody else to sort of like participate in there we go Chicago too well um so whil we’re doing that I’m waiting for everybody to sort of join I’ll simply run us through the agenda um today we are going to go over hiring Skill brand-new higher Info Management termination compliance and automation wow the chat has actually got truly actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is great so uh I’m hoping that we’re actually going to have some really great commentary and concerns throughout the uh the webinar as well fine so that’s the program then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their data is Go Papaya Global Payroll multifaceted without fail and an.
Ever progressing relationship that begins the moment an individual joins a company 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 used with us so on boarding everyday operations compensation and advantages professional development then we get to the offboarding and even advocacy so it even happens after the worker has left your employment throughout the journey companies are accountable for gathering keeping securing worker information in compliance with information personal privacy policies no matter where it is you’re operating around the world it frequently involves executing safe and secure data management systems and guaranteeing stringent adherence to local requirements to secure both the staff member and the company the development of worker data and management c.