Payroll and payments run efficiently …Papaya Global Hr Software For Workforce Efficiency
if they depend on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company 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 doesn’t require to be included best and what does
it require to be thought of there’s differing 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 capabilities 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 customer’s own in-country account so there’s complexity wherever you look best eventually building a knowledge base is definitely important however all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it’s closer than ever I think there’s now a bit more recognition that payroll payments are definitely basic and technology is permitting us to kind of move on with that it likewise also to add to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is definitely vital that payroll and financing groups work more detailed together than ever um I’m constantly astonished when individuals say I’ve split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation 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 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 third parties so with the
world we reside in and well-being being a growing number of crucial to contribute to sort of the level of complexity there’s more and more benefits being organ or being used by businesses throughout the world so once again you’re just aiming to include a growing number of payments to this currently complicated landscape so if you type of got any experience well I’m from your huge experience here and I make sure but have you got any experience in kind of genuine difficulties or genuine difficult type of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a number of years I would absolutely 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 details into the next function as it were that’s in fact 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 understand long gone are the times where we require to produce extra handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they don’t make them what they need to be in in an age of tech and an era that you know that we are working in today there is no reason 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 organization has from an expense perspective from an effect viewpoint on employees it is absolutely important that it’s done correctly 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 greatest destructive result on individuals’s wellness and lots of other factors if people aren’t paid uh I’ve always been astonished entering this Market type 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 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 employees or not um however eventually payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it’s just a tick box exercise and I think that’s how it’s seen from the external consider as well um so yeah it’s likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a terrific initial step um offering an end-to-end payroll service for your staff members internationally once again I believe is another big um procedure once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely key to success success of services and decreasing the variety of tools platforms and savings account they require 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 don’t expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven’t gone rather where they’re suggested to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand how how essential 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 everyone that’s involved in those procedures and also so think of sorry I’m just I was simply gon na say think of the amount 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 potentially Millions think of getting that many thank you notes um I imply it ‘d be interesting to see how many Post-it notes you got however it would definitely be a fascinating task attempting to clean 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 look through them and really see what was going on and type of shot to get back to everyone so carrying on look why do companies pick to main different checking account there are businesses out there doing precisely this for specific countries and I have actually operated in a service or numerous services doing exactly that I can say it does not always feel effective and it does produce more work I understand we’re not intentionally doing that we’re not developing extra work for anybody where we do not need to and any person that’s managing that procedure I ‘d be interested to hear your ideas Johnny why do you believe that we’re doing that in in the in the amount that we are I believe numerous factors one is it’s the standard I believe people have got so used to we require a new savings account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it’s not a requirement so I believe it’s simply been the requirement and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other ways um to to type of do it so I believe there’s a variety I believe this is a process that requires taking a look at it requires altering but ultimately people are really stuck with what they recognize
with ideal um modification is a tough thing we all don’t like modification um so I believe it’s simply sort of moving far from the standard as we’ve said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having preserving numerous checking account however there’s a substantial amount of complexity goes with establishing a bank account keeping it ensuring it can send International transfers ensuring it’s established with the ideal user accesses for private people so the intricacy is substantial however I think the sincere response is modification um individuals haven’t had the ability to change or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you’ve hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change but we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be identified to be the next Century or two there is a lot to monitor and this approach does posture a number of difficulties um so Johnny might you tell
Cost Considerations and Papaya Global Hr Software For Workforce Efficiency …
The extensive functions of come at an expense,
Over the past couple of decades, the labor force has actually undergone a substantial improvement with the development of remote work, which has eliminated geographical restrictions on hiring. This has actually enabled organizations to recruit skill from all over the world, allowing them to assemble the very best possible team for each role. As a result, employees have gotten higher versatility to work from home and increase their revenues without needing to transfer to pricey locations or commute cross countries. According to a 2022 study, 87% of staff members who have the alternative to work from another location select to do so. The COVID-19 pandemic, integrated with advancements in business connectivity software, has further sped up the shift towards remote work, even in industries that were initially reluctant to adopt the trend.
insights are important to us and and your fellow participants 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’ve had functions in all kind of Industries retail and Appeal to Aerospace in all types of companies startup to matrixed environments around the world I supplied management and strategy to populations of more than 100,000 workers on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Worldwide I work across business guy maning and constructing external relationships supporting Enterprise customers and services and acting as a consultant I want to introduce our very 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 corporate counsil at bambo HR so I lead our in-house legal group and in fact work very closely with our um HR department as well to manage different legal and HR matters that show up so truly excited to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our mission is to set you as HR experts complimentary to do fantastic
Although Papaya Global offers integrations with numerous HR and financing systems, we encountered some difficulties throughout the combination process. Tailoring the software application to line up with our existing infrastructure showed to be more intricate than expected, resulting in delays in the preliminary rollout.
The comprehensive features used by Papaya Global come at an expense, which some of our smaller sized subsidiaries found to be prohibitively pricey. As a global company, we needed to thoroughly weigh the need for advanced performance against budget restrictions.
Support Response Time:
On occasion, our teams experienced problems that needed urgent assistance. However, the reaction time from Papaya Global’s client assistance group was not constantly as prompt as we would have liked, causing hold-ups in dealing with those issues.
Our application of involved a phased approach. We began by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing procedures. This allowed us to recognize and address combination difficulties early on. As the software ended up being more instilled in our operations, we slowly expanded its usage to cover our whole worldwide workforce.
The automated features structured our payroll processes, decreasing the time invested in manual calculations and compliance tracking. Regular training sessions and ongoing assistance from Papaya assisted our groups end up being proficient users of the software application, optimizing its potential for our company.
Companies that staff member workers throughout numerous countries often face elaborate difficulties when it comes to handling their workforce. Among the most significant difficulties is combining different data streams and adhering to varied regional and national labor regulations, which can be both time-consuming and expensive. Furthermore, establishing local entities in brand-new areas can be an expensive and suboptimal choice, with options such as opening a foreign subsidiary or working with an expert employment organization (PEO) often charging up to 15% of the payroll. These challenges have actually led to a substantial increase in problem recruiting certified workers, with 75% of companies reporting this concern in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
uses a solution supporting all forms of work. It provides 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, offers management of employment benefits, and guarantees information 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 workforce 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 sure to attend the total webcast in order to receive your credits if you have any questions throughout 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 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 presentation hello and thank you for joining us today we’re enjoyed have you here as we embark on a journey of information to guideline attaining
360 degree staff member compliance where we’ll dive into the vital elements of the worker compliance management model throughout the session we’ll explore real life obstacles real local regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to protect your company and employees while staying compliant in an
Ever evolving regulative environment in the everchanging world of company and financing ensuring compliance with payroll policies is not only vital however also a legal imperative from the minute of working with to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance risks that have significant consequences however with a much deeper more nuanced understanding of their responsibilities companies can not just navigate the detailed landscape but also proactively guarantee 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 expert a small business owner or someone brand-new to the field what I want to do before we start and I think it’s truly crucial
In our quest to enhance performance and accuracy in handling our global labor force, our international corporation turned to, a leading and labor force management software application. The transition aimed to streamline the complex task of handling throughout various nations, currencies, and compliance regulations.
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 multiple jurisdictions. This has actually been important in guaranteeing that our procedures remain certified in each nation of operation.
is to state that the content here is illegal suggestions it is simply for your details please consult your legal group needs 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 employee compliance threats how to hire ly with confidence how to simplify data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
work as your hris or is kind of your core worker record um to manage that employee life process throughout their Journey with you as as a staff member in addition to a payroll module we need to assist you pay those workers and compensate them and benefits Administration module that permits you to assist manage the advantages you supply to your employees so truly thrilled to be here represent um bamb booy jar and discuss this subject um and I think from my point of view I’ll I’ll probably offer a lot of a focus on the US side of things when we discuss type 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 present yourself and inform the audience a little bit about papay international yes definitely thank you Ian hey there everybody I’m Gina dorelis I’m the Work expert manager.
at I handle the employment Council in the US APAC EMA and Israel area I also function 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 labor force service provider to workers serving in over.
160 countries okay thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the intro so it’s truly actually good to really see in the webinar chat where everybody’s really attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you wish to carry on tell where you are that would be absolutely wonderful whilst we just await everyone else to type of like take part there we go Chicago as well well um so whil we’re doing that I’m waiting on everyone to kind of join I’ll simply run us through the program um today we are going to talk about hiring Skill new higher Details Management termination compliance and automation wow the chat has got really actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is wonderful so uh I’m hoping that we’re actually going to have some truly excellent commentary and questions throughout the uh the webinar as well fine so that’s the program then what I want 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 Hr Software For Workforce Efficiency diverse without fail and an.
Ever progressing relationship that starts the minute a person signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to several crucial phases whilst we’re actually you understand that they’re utilized with us so on boarding day-to-day operations compensation and benefits expert development then we get to the offboarding and even advocacy so it even happens after the staff member has left your employment throughout the journey companies are responsible for collecting keeping securing staff member information in compliance with information privacy policies no matter where it is you’re running around the world it frequently involves carrying out secure data management systems and making sure strict adherence to local requirements to secure both the worker and the organization the advancement of employee data and management c.