Payroll and payments run smoothly …Papaya Global Payroll Systems
if they depend on the essential numerous procedures 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 organization face when they’re making payments to staff members or otherwise that’s a good question I constantly throw this back and state what is it what doesn’t require to be consisted of right and what does
it require to be thought of there’s varying Bank information so the length of an eye band a swift an account number routing code per nation there’s payment time frames 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 intricacy any place you look ideal eventually building a knowledge base is definitely vital but all over you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it’s closer than ever I think there’s now a bit more recognition that payroll payments are absolutely basic and technology is enabling us to type of move forward with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely essential that payroll and finance groups work more detailed together than ever um I’m constantly amazed when people say 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 profession would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more essential to add to sort of the level of complexity there’s increasingly more advantages being organ or being provided by businesses across the world so once again you’re simply aiming to include increasingly more payments to this already complex 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 sort of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding info into the next function as it were that’s really managing the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they don’t make them what they need to be in in an age of tech and an age that you know that we are working in today there is no reason that we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from a cost point of view from an effect perspective on workers it is absolutely important that it’s done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging impact on individuals’s well-being and many other aspects if individuals aren’t paid uh I’ve always been surprised entering this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I’m unsure anyone on this kind of webinar has been told 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 but eventually payroll is such an important cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it’s just a tick box workout and I believe 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 vital that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment service is a fantastic initial step um providing an end-to-end payroll option for your employees worldwide again I think is another big um procedure again aligning and ensuring you have standardization Global processes all of those things are definitely crucial to success success of businesses and decreasing the number of tools platforms and bank accounts they need for their International payroll too couldn’t agree with you more and on the the front in terms of of the thank yous for getting payroll done I’ve never ever had a hundred thousand of them within a payroll cycle don’t anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they’re indicated to be um I don’t think any of us are really doing that for for the thanks
anyway we understand 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 processes and also so think of sorry I’m simply I was just gon na say envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we’re speaking about hundreds of thousands possibly Millions think of 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 definitely be an intriguing task attempting 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 need days of the week to attempt to check out them and in fact see what was going on and kind of shot to get back to everybody so moving on look why do companies choose to primary different savings account there are companies out there doing precisely this for specific nations and I’ve operated in a service or lots of businesses doing precisely that I can say it does not constantly feel effective and it does produce more work I know we’re not deliberately doing that we’re not creating extra work for anybody where we don’t have to and anyone that’s dealing with that process I ‘d be interested to hear your thoughts Johnny why do you believe that we’re doing that in in the in the quantity that we are I think many factors one is it’s the standard I believe people have actually got so used to we require a new checking account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it’s not a requirement so I think it’s simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there’s a variety I believe this is a procedure that requires looking at it requires altering however ultimately people are extremely stuck with what they recognize
with best um modification is a challenging thing we all do not like change um so I think it’s simply type of moving away from the standard as we’ve said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having preserving numerous bank accounts however there’s a huge quantity of intricacy chooses setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it’s established with the right user accesses for specific individuals so the complexity is substantial however I think the truthful answer is change um individuals have not had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you’ve struck the nail on the head I think it is understanding 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 looking at the the benefits and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century or so there is a lot to keep an eye on and this approach does posture a number of challenges um so Johnny could you inform
Expense Factors to consider and Papaya Global Payroll Systems …
The thorough features of come at an expense,
Current years have seen a significant modification to the workforce as the rise of remote work has broken down geographical barriers to employing. Companies can now hire personnel from anywhere worldwide, permitting them to access the best available skill for any given role. This provides workers more liberty to work from home and increase their earnings without moving to costly areas or travelling long distances. A 2022 study found that 87% of employees who have the opportunity to work from another location take that chance. The outbreak of COVID-19, in conjunction with new business connection software, accelerated the relocate to remote work, consisting of in industries previously reluctant to embrace the trend.
insights are valuable 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 have actually operated in payroll for the last 25 years I have actually had roles in all sort of Industries retail and Beauty to Aerospace in all kinds of companies startup to matrixed environments across the globe I supplied leadership and strategy to populations of more than 100,000 employees on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work throughout the business man maning and developing external relationships supporting Enterprise customers and solutions and serving 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 said 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 too to manage different legal and HR matters that come up so truly excited to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we say our objective is to set you as HR experts complimentary to do fantastic
While Papaya Global deals combinations with various HR and financing systems, the implementation process was not without difficulties. Integrating the software with our existing infrastructure required additional customization, leading to some delays in the initial rollout.
Paying FAQs Papaya Global Payroll Systems 2024
and some smaller subsidiaries within our company discovered the prices to be on the higher side. As an international company, stabilizing the requirement for advanced functions with spending plan restrictions ended up being a delicate workout.
Consumer Support Response Time:
There were circumstances where our groups faced issues that required timely help. However, the response time from’s customer assistance team was not always as fast as desired, leading to periodic hold-ups in concern resolution.
Our implementation of involved a phased method. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This enabled us to recognize and address integration challenges early on. As the software application ended up being more implanted in our operations, we gradually broadened its usage to cover our entire worldwide labor force.
The automated functions structured our payroll processes, minimizing the time invested in manual estimations and compliance tracking. Routine training sessions and continuous support from Papaya helped our teams become skilled users of the software application, maximizing its capacity for our company.
Business that employee workers throughout several nations typically face elaborate obstacles when it concerns handling their workforce. One of the most significant obstacles is consolidating various data streams and adhering to diverse regional and nationwide labor policies, which can be both time-consuming and costly. Furthermore, establishing regional entities in new regions can be a pricey and suboptimal choice, with options such as opening a foreign subsidiary or employing a professional employment company (PEO) often charging up to 15% of the payroll. These difficulties have actually resulted in a substantial boost in problem hiring qualified personnel, 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.
offers an option supporting all types of employment. It offers an end-to-end platform, from employee onboarding and continuous management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they operate, offers management of employment advantages, and makes sure information privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading specialist in payroll and workforce management. She co-founded after seeing the innovation space in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to go to 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 brand-new tab will open in your web browser with the webcast study please make sure to finish 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 hi and thank you for joining us today we’re enjoyed have you here as we embark on a journey of data to guideline achieving
360 degree staff member compliance where we’ll dive into the vital aspects of the employee compliance management model throughout the session we’ll check out real life obstacles genuine regional regulations finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your organization and employees while staying certified in an
Ever progressing regulatory environment in the everchanging world of service and finance ensuring compliance with payroll policies is not just essential however also a legal important from the moment of employing to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance risks that have significant repercussions nevertheless with a much deeper more nuanced understanding of their obligations companies can not just browse the complex landscape however also proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools needed to navigate the complex Surface of compliance whether you’re a seasoned P expert a small business owner or someone new to the field what I would like to do before we start and I think it’s actually crucial
In our quest to improve effectiveness and accuracy in handling our international workforce, our multinational corporation turned to, a leading and workforce management software. The shift aimed to simplify the complex task of managing across numerous countries, currencies, and compliance guidelines.
Among the standout features of is its robust compliance management system. The software application immediately updates itself to comply with ever-evolving tax and labor laws across multiple jurisdictions. This has actually been invaluable in guaranteeing that our processes remain compliant 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 questions or concerns in relation to anything that we’ve talked about today our key take crucial takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to employ ly with self-confidence how to streamline data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
function as your hris or is sort of your core employee record um to manage 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 assist manage the benefits you offer to your workers so truly excited to be here represent um bamb booy jar and talk about this subject um and I guess from my perspective I’ll I’ll probably offer a great deal of a focus on the United States side of things when we discuss 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 introduce yourself and inform the audience a bit about papay international yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Employment professional manager.
at I handle the work Council in the United States APAC EMA and Israel area I also function as us Council for I’m accredited in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and workforce management as a Service work force service provider to workers serving in over.
160 nations okay thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were type of like going through the introduction so it’s actually really great 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 tell where you are that would be absolutely great whilst we simply wait for everyone else to sort of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting on everyone to sort of join I’ll just run us through the agenda um today we are going to discuss hiring Talent new higher Details Management termination compliance and automation wow the chat has got truly truly 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 truly great commentary and concerns throughout the uh the webinar also alright so that’s the program then what I ‘d like 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 Papaya Global Payroll Systems diverse without fail and an.
Ever evolving relationship that starts the moment a person joins a company it continues throughout their employment and Beyond this journey can be divided into k to numerous essential phases whilst we’re actually you understand that they’re employed with us so on boarding daily operations compensation and benefits expert advancement then we get to the offboarding and even advocacy so it even takes place after the worker has left your work throughout the journey organizations are accountable for gathering storing securing worker data in compliance with data privacy regulations no matter where it is you’re running around the world it frequently involves executing secure data management systems and making sure strict adherence to local requirements to protect both the worker and the organization the evolution of staff member data and management c.