Payroll and payments run smoothly …Papaya Global Payslipsand Thunderbird
if they depend on the required multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles business face when they’re paying to workers or otherwise that’s a good concern I always toss this back and state what is it what doesn’t need to be consisted of right and what does
it need to be thought about there’s varying 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 client’s own in-country account so there’s complexity any place you look best ultimately constructing a knowledge base is definitely important but all over you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 fundamental and innovation is permitting us to kind of progress with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely vital that payroll and financing groups work more detailed together than ever um I’m always surprised when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation 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 procedure it’s the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to add to kind of the level of intricacy there’s more and more benefits being organ or being provided by organizations throughout the world so again you’re simply aiming to add more and more payments to this already complex landscape so if you kind 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 obstacles or real difficult kind of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding details into the next function as it were that’s in fact handling the payment side of things but you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we need to produce extra handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and rightly as you said payroll is the single most significant liability that any service has from an expense point of view from an impact perspective on staff members it is definitely critical that it’s done properly and on time so what we mean 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 damaging result on individuals’s well-being and many other factors if individuals aren’t paid uh I’ve always been amazed coming into this Market sort of the last 5 to ten years is how little thanks the
payroll group get um so I’m not sure anyone on this sort 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 ultimately payroll is such an essential cycle we all find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it’s just a tick box exercise and I think 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 things is definitely important that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment service is an excellent first step um offering an end-to-end payroll service for your staff members worldwide once again I think is another huge um procedure again aligning and guaranteeing you have standardization Global procedures all of those things are definitely key to success success of companies and reducing the variety of tools platforms and checking account they require for their Worldwide 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 had a hundred countless them within a payroll cycle don’t expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they’re meant to be um I don’t think any of us are actually doing that for for the thanks
anyway we know how how important a function 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 everyone that’s involved in those processes and also so imagine sorry I’m simply I was just gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I’m sure we’re speaking about hundreds of thousands possibly Millions picture 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 all those up for sure oh absolutely 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 actually see what was going on and type of try to return to everybody so carrying on appearance why do business choose to main different checking account there are organizations out there doing precisely this for specific countries and I have actually worked in a company or lots of services doing precisely that I can say it does not constantly feel efficient and it does produce more work I know we’re not deliberately doing that we’re not creating extra work for any person where we don’t need to and any person 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 many factors one is it’s the standard I think people have got so utilized to we require a new bank account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it’s not a requirement so I believe it’s just been the requirement and the standard the people have adopted and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there’s a variety I think this is a procedure that needs taking a look at it needs changing however eventually individuals are very stuck to what they’re familiar
with best um change is a difficult thing all of us do not like change um so I believe it’s simply kind of moving far from the standard as we’ve said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having keeping multiple savings account however there’s a substantial quantity of complexity opts for establishing a savings account keeping it ensuring it can send out International transfers guaranteeing it’s set up with the ideal user accesses for private people so the complexity is huge however I believe the honest response is change um people haven’t been able to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you’ve struck the nail on the head I think it is understanding you know and there is an element of resistance to alter however we’ve constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century or so there is a lot to track and this approach does posture numerous challenges um so Johnny could you inform
Expense Considerations and Papaya Global Payslipsand Thunderbird …
The detailed features of come at an expense,
Over the past few decades, the labor force has actually gone through a significant change with the emergence of remote work, which has actually eliminated geographical constraints on hiring. This has enabled services to recruit talent from all over the world, enabling them to put together the best possible group for each role. As a result, employees have acquired higher flexibility to work from home and increase their revenues without having to relocate to pricey areas or commute long distances. According to a 2022 survey, 87% of staff members who have the option to work remotely pick 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 at first reluctant to adopt the pattern.
insights are important to us and and your fellow attendees 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 roles in all type of Industries retail and Beauty to Aerospace in all kinds of companies startup to matrixed environments around the world I offered leadership and technique to populations of more than 100,000 workers on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
International I work throughout the business male maning and building external relationships supporting Business customers and solutions and functioning as a consultant I wish to introduce our 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 business counsil at bambo HR so I lead our in-house legal group and in fact work very carefully with our um HR department also to deal with various legal and HR matters that turn up so really 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 specialists complimentary to do great
Although Papaya Global offers integrations with various HR and finance systems, we encountered some difficulties throughout the combination procedure. Tailoring the software to line up with our existing facilities proved to be more complex than prepared for, resulting in delays in the preliminary rollout.
The substantial functions provided by Papaya Global come at a cost, which some of our smaller subsidiaries found to be prohibitively pricey. As a worldwide company, we had to thoroughly weigh the need for sophisticated functionality against spending plan restrictions.
Assistance Response Time:
On occasion, our groups experienced problems that needed urgent help. Nevertheless, the reaction time from Papaya Global’s customer assistance team was not constantly as timely as we would have liked, causing hold-ups in resolving those problems.
Our implementation of included a phased technique. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This allowed us to recognize and address integration challenges early on. As the software application became more implanted in our operations, we gradually expanded its usage to cover our entire international labor force.
The automated functions streamlined our payroll processes, minimizing the time spent on manual computations and compliance tracking. Routine training sessions and continuous support from Papaya helped our teams become competent users of the software application, maximizing its capacity for our company.
Nevertheless, paying a labor force can be complex. It is particularly challenging for business who use staff across several nations, as they need to constantly consolidate various data streams, by hand track local and national labor and regulations, and invest important time and resources to set up local entities in new locations. These companies are faced with suboptimal, pricey alternatives, like opening a foreign subsidiary or hiring an expert work company, which is a local company that works with staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported problem hiring certified workers, a boost of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
uses a solution supporting all forms of employment. It offers an end-to-end platform, from worker onboarding and ongoing management to international payments and. It helps 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 professional in payroll and workforce management. She co-founded after seeing the innovation gap in global.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to participate in the total webcast in order to receive 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 brand-new tab will open in your internet browser with the webcast study please be 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 hi and thank you for joining us today we’re enjoyed have you here as we embark on a journey of data to guideline attaining
360 degree staff member compliance where we’ll dive into the essential aspects of the employee compliance management model throughout the session we’ll explore real world difficulties genuine regional regulations finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to secure your organization and workers while staying compliant in an
Ever evolving regulative environment in the everchanging world of business and financing making sure compliance with payroll policies is not only important however likewise a legal necessary from the minute of employing to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance risks that have significant repercussions nevertheless with a deeper more nuanced understanding of their commitments organizations can not only browse the intricate landscape but likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools needed to navigate the complex Terrain of compliance whether you’re a skilled P expert a small business owner or somebody new to the field what I wish to do before we begin and I think it’s truly crucial
In our quest to improve effectiveness and accuracy in managing our international workforce, our international corporation turned to, a leading and workforce management software. The shift intended to simplify the complex job of handling throughout numerous nations, currencies, and compliance policies.
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 numerous jurisdictions. This has actually been indispensable in guaranteeing that our processes stay certified in each nation of operation.
is to state that the content here is not legal guidance it is merely for your info please consult your legal team needs to you have any concerns 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 worker compliance dangers how to hire ly with confidence how to simplify information 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 type of your core worker record um to manage that employee life process throughout their Journey with you as as a worker in addition to a payroll module we need to help you pay those employees and compensate them and advantages Administration module that allows you to help manage the benefits you supply to your employees so really excited to be here represent um bamb booy jar and speak about this topic um and I think from my viewpoint I’ll I’ll probably provide a great deal of a focus on the US side of things when we speak about sort 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 bit about papay global yes absolutely thank you Ian hello everybody I’m Gina dorelis I’m the Work professional manager.
at I handle the work Council in the United States APAC EMA and Israel region I likewise function as us Council for I’m licensed in New york city and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service work force provider to workers serving in over.
160 countries alright thank you so both I feel entirely underqualified sitting here with you both well I forgot to point out as we were kind of like going through the intro so it’s really truly great to actually see in the webinar chat where everybody’s really participating in from today I can see that we have people in Las Vegas and Indiana currently so if you wish to continue tell where you are that would be definitely fantastic whilst we just wait on everybody else to kind of like join in there we go Chicago also well um so whil we’re doing that I’m awaiting everybody to type of join I’ll simply run us through the program um today we are going to go over hiring Skill new greater Information Management termination compliance and automation wow the chat has got really really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely everywhere which is great so uh I’m hoping that we’re actually going to have some truly terrific commentary and concerns throughout the uh the webinar as well fine so that’s the agenda then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their information is Papaya Global Payslipsand Thunderbird complex without fail and an.
Ever developing relationship that starts the minute a person joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous crucial stages whilst we’re really you understand that they’re used with us so on boarding daily operations compensation and benefits expert advancement then we get to the offboarding and even advocacy so it even occurs after the worker has left your work throughout the journey companies are responsible for gathering saving protecting employee data in compliance with information personal privacy guidelines no matter where it is you’re operating all over the world it frequently involves executing protected data management systems and guaranteeing strict adherence to regional requirements to safeguard both the staff member and the company the advancement of employee information and management c.