Payroll and payments run smoothly …Papaya Global Template
if they depend on the needed several procedures 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 business face when they’re making payments to staff members or otherwise that’s an excellent concern I always throw this back and state what is it what does not require to be included best and what does
it require to be thought about there’s differing 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 need to pay from the customer’s own in-country account so there’s intricacy wherever you look best eventually constructing a knowledge base is absolutely important but all over you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it’s closer than ever I think there’s now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to type of move on with that it likewise 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 essential that payroll and financing teams work better together than ever um I’m always amazed when people say I’ve divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn’t work in the payroll profession would they divide the payroll payment from estimation 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 ultimately 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 however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more essential to contribute to kind of the level of complexity there’s more and more benefits being organ or being provided by businesses across the world so again you’re just aiming to include a growing number of payments to this already intricate landscape so if you type of got any experience well I’m from your large experience here and I’m sure however have you got any experience in kind of real challenges or real challenging kind of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of decades I would certainly state that the bigger 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 teams feeding information into the next function as it were that’s really handling the payment side of things but you understand in in my viewpoint and my experience that doesn’t necessarily need to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we run in they just make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single biggest liability that any business has from a cost viewpoint from an effect perspective on staff members it is definitely crucial 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 greatest harmful impact on people’s well-being and many other factors if people aren’t paid uh I’ve always been impressed coming into this Market kind of the last five to ten years is how little thanks the
payroll group get um so I’m unsure anyone on this sort of webinar has been told thank you for processing my payroll properly if you have it ‘d be great to hear your success story and whether that’s been from all staff members or not um but eventually payroll is such an essential cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it’s just a tick box exercise and I believe 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 things is definitely crucial that all of this things is done correctly so leveraging the first Global Payments first payroll payment service is a great first step um offering an end-to-end payroll service for your workers worldwide again I think is another huge um process again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of services and lowering the number of tools platforms and savings account they require 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 have actually never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they’re suggested to be um I don’t think any of us are really doing that for for the thanks
anyhow we know how how essential 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 easy as possible for everybody that’s involved in those procedures and likewise so envision sorry I’m simply I was simply gon na say picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we’re discussing hundreds of thousands possibly Millions think of getting that many thank you notes um I suggest it ‘d be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying to clean up all those up for sure oh absolutely I can’t think of the size of my my Outlook inbox if that was the case um you ‘d require days of the week to attempt to check out them and really see what was going on and kind of try to return to everyone so carrying on appearance why do business select to primary different bank accounts there are companies out there doing precisely this for specific nations and I have actually worked in a business or numerous businesses doing exactly that I can say it doesn’t constantly feel effective and it does develop more work I know we’re not deliberately doing that we’re not creating additional work for any person where we don’t need to and anyone that’s managing 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 believe numerous factors one is it’s the requirement I believe people have actually got so utilized to we require a new bank account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it’s not a requirement so I believe it’s simply been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and many 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 requires changing however ultimately people are really stuck to what they recognize
with best um change is a tough thing we all don’t like change um so I think it’s just sort of moving away from the norm as we’ve said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having keeping several savings account however there’s a substantial amount of intricacy goes with establishing a savings account maintaining it guaranteeing it can send out International transfers ensuring it’s established with the best user accesses for private individuals so the complexity is big however I think the honest response is modification um individuals haven’t had the ability to alter or haven’t had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we’ve constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to monitor and this approach does position a number of challenges um so Johnny could you inform
Expense Considerations and Papaya Global Template …
The detailed features of come at an expense,
Current years have actually seen a dramatic change to the workforce as the rise of remote work has actually broken down geographical barriers to working with. Companies can now work with personnel from anywhere worldwide, allowing them to access the very best offered talent for any given function. This gives workers more freedom to work from home and increase their income without transferring to costly locations or travelling long distances. A 2022 study discovered that 87% of workers who have the chance to work from another location take that opportunity. The outbreak of COVID-19, in conjunction with new enterprise connection software application, sped up the move to remote work, including in industries previously hesitant to welcome the pattern.
insights are important to us and and your fellow attendees so first things initially though um let’s be familiar with everyone my name is Ian Charles and I’ve worked in payroll for the last 25 years I’ve had functions in all sort of Industries retail and Beauty to Aerospace in all types of companies startup to matrixed environments around the world I offered management and technique to populations of more than 100,000 workers on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Worldwide I work across the business man maning and developing external relationships supporting Enterprise clients and solutions and serving as an advisor I wish to introduce our first Greg um visitor Greg who will kick things off by telling 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 corporate counsil at bambo HR so I lead our in-house legal team and in fact work really carefully with our um HR department also to manage different legal and HR matters that show 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 objective is to set you as HR experts free to do fantastic
While Papaya Global offers combinations with different HR and finance systems, the application process was not without difficulties. Integrating the software with our existing infrastructure required extra customization, causing some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Template 2024
and some smaller sized subsidiaries within our company discovered the prices to be on the higher side. As an international business, balancing the need for innovative functions with spending plan restraints became a fragile workout.
Consumer Assistance Action Time:
There were circumstances where our teams dealt with issues that required timely support. However, the response time from’s customer support team was not always as quick as preferred, resulting in occasional hold-ups in concern resolution.
Our application of involved a phased technique. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This enabled us to recognize and deal with integration challenges early on. As the software application became more implanted in our operations, we slowly broadened its usage to cover our entire global labor force.
The automated features structured our payroll procedures, decreasing the time invested in manual estimations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our teams end up being proficient users of the software application, maximizing its potential for our company.
Companies that staff member workers across numerous countries often face elaborate difficulties when it comes to managing their workforce. Among the greatest hurdles is combining different information streams and sticking to diverse regional and nationwide labor guidelines, which can be both lengthy and expensive. Additionally, establishing local entities in new regions can be an expensive and suboptimal choice, with options such as opening a foreign subsidiary or employing a professional work organization (PEO) frequently charging up to 15% of the payroll. These difficulties have resulted in a considerable boost in trouble hiring certified workers, with 75% of employers reporting this concern in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
uses an option supporting all kinds of employment. It offers 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 run, offers management of work advantages, and makes sure 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 labor force management. She co-founded after seeing the technology space in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to go to the total webcast in order to get your credits if you have any concerns during the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your web browser with the webcast survey please make sure 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 hello and thank you for joining us today we’re thrilled to have you here as we start a journey of information to policy attaining
360 degree staff member compliance where we’ll dive into the necessary elements of the worker compliance management design throughout the session we’ll check out real life obstacles real regional regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to protect your organization and staff members while remaining compliant in an
Ever progressing regulatory environment in the everchanging world of organization and financing ensuring compliance with payroll regulations is not just essential but likewise a legal necessary from the minute of working with to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance dangers that have significant effects however with a deeper more nuanced understanding of their commitments organizations can not just browse the intricate landscape however also proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to browse the complex Terrain of compliance whether you’re an experienced P professional a small business owner or somebody brand-new to the field what I wish to do before we begin and I believe it’s really crucial
In our mission to boost performance and accuracy in handling our global workforce, our multinational corporation turned to, a leading and workforce management software. The shift aimed to streamline the complex job of handling across different countries, currencies, and compliance guidelines.
One of the standout functions of is its robust compliance management system. The software automatically updates itself to adhere to ever-evolving tax and labor laws across several jurisdictions. This has been vital in guaranteeing that our processes remain certified in each country of operation.
is to state that the content here is illegal recommendations it is merely for your details please consult your legal group must you have any questions or issues 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 staff member compliance threats how to work with ly with confidence how to streamline information management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
function as your hris or is type of your core staff member record um to manage that worker life process throughout their Journey with you as as a worker in addition to a payroll module we need to help you pay those staff members and compensate them and benefits Administration module that permits you to assist manage the benefits you offer to your staff members so really delighted to be here represent um bamb booy container and talk about this subject um and I guess from my viewpoint I’ll I’ll probably supply a lot of a focus on the United States side of things when we talk about sort of compliance so delighted 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 international yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Work professional manager.
at I handle the employment Council in the US APAC EMA and Israel area I also work as us Council for I’m licensed in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and workforce management as a Service work force service provider to workers 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 introduction so it’s really actually nice to really see in the webinar chat where everybody’s actually participating in from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to carry on tell where you are that would be definitely wonderful whilst we just wait for everyone else to kind of like take part there we go Chicago as well well um so whil we’re doing that I’m waiting on everyone to type of join I’ll just run us through the agenda um today we are going to discuss working with Talent new greater Info Management termination compliance and automation wow the chat has got truly really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely 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 too okay so that’s the agenda 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 staff member and their information is Papaya Global Template multifaceted without fail and an.
Ever evolving relationship that starts the moment a person signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to numerous crucial stages whilst we’re actually you know that they’re utilized with us so on boarding daily operations payment and benefits expert development then we get to the offboarding and even advocacy so it even occurs after the staff member has left your work throughout the journey companies are responsible for collecting storing securing staff member data in compliance with data personal privacy guidelines no matter where it is you’re running around the globe it typically includes implementing secure data management systems and guaranteeing stringent adherence to regional requirements to safeguard both the worker and the organization the advancement of worker data and management c.