Papaya Global 5 2024 – All You Need To Know

Payroll and payments  run smoothly …Papaya Global 5

 

if they rely on the essential multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties company face when they’re making payments to staff members or otherwise that’s a good concern I always toss this back and say what is it what doesn’t require to be included right 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 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 need to pay from the customer’s own in-country account so there’s intricacy wherever you look ideal ultimately building a knowledge base is definitely important however all over you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in 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 technology is permitting us to type of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely important that payroll and financing teams 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 doesn’t work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the

world we reside in and wellness being more and more important to contribute to sort of the level of complexity there’s increasingly more benefits being organ or being offered by organizations across the world so once again you’re just seeking to add a growing number of payments to this already complicated landscape so if you sort of got any experience well I’m from your vast experience here and I make certain but have you got any experience in kind of real obstacles or genuine challenging sort of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would certainly state that the larger a business gets the more it tends to segregate the payroll and the payments operates 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 managing the payment side of things but you understand in in my viewpoint and my experience that doesn’t always require to be the case you know long gone are the times where we need to develop additional handoffs in the processes 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 a period of tech and an era that you know that we are operating in today there is no reason why we are still making this as challenging as it requires to be agreed and rightly as you said payroll is the single most significant liability that any business has from an expense viewpoint from an impact point of view on staff members 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 biggest detrimental impact on individuals’s wellness and lots of other elements if people aren’t paid uh I have actually constantly been amazed coming into this Market kind of the last 5 to 10 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 ultimately payroll is such an important cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it’s simply a tick box workout 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 things is definitely important that all of this things is done correctly so leveraging the first Global Payments first payroll payment option is a great primary step um supplying an end-to-end payroll solution for your workers worldwide again I believe is another substantial um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of organizations and lowering the number of tools platforms and savings account they require for their Worldwide 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’ve never ever had a hundred thousand of 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 haven’t gone rather where they’re meant to be um I do not believe any of us are actually doing that for for the thanks

anyway 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 procedures and likewise so imagine sorry I’m simply I was simply gon na say think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we’re talking about hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I mean it ‘d be interesting to see how many Post-it notes you got but it would certainly be a fascinating task attempting to clean up 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 need days of the week to try to look through them and actually see what was going on and kind of shot to get back to everybody so carrying on appearance why do business pick to main different checking account there are organizations out there doing precisely this for particular countries and I have actually operated in a company or many services doing precisely that I can say it does not constantly feel efficient and it does develop more work I understand we’re not deliberately doing that we’re not creating additional work for anybody where we don’t have to and anyone that’s dealing with 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 quantity that we are I think numerous reasons one is it’s the standard I think people have got so used to we need a new savings account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it’s not a requirement so I think it’s just been the requirement and the standard the people 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 type of do it so I think there’s a variety I think this is a process that requires looking at it requires changing however eventually individuals are extremely stuck with what they recognize

with ideal um change is a tough thing we all don’t like change um so I think it’s just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having keeping multiple savings account but there’s a substantial quantity of intricacy chooses setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it’s established with the best user accesses for private individuals so the complexity is big however I think the truthful answer is modification um people haven’t been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you’ve hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century or two there is a lot to monitor and this method does pose numerous challenges um so Johnny might you tell

 

 

Expense Considerations and Papaya Global 5 …
The comprehensive features of come at an expense,

 

Current decades have seen a remarkable modification to the workforce as the rise of remote work has broken down geographical barriers to working with. Services can now hire staff from anywhere worldwide, permitting them to access the very best available talent for any provided role. This gives employees more flexibility to work from home and increase their earnings without relocating to pricey areas or commuting long distances. A 2022 survey discovered that 87% of employees who have the opportunity to work remotely take that chance. The outbreak of COVID-19, in conjunction with new enterprise connection software application, accelerated the move to remote work, including in industries previously reluctant to welcome the trend.

insights are valuable 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 have actually worked in payroll for the last 25 years I have actually had functions in all sort of Industries retail and Charm to Aerospace in all types of organizations start-up to matrixed environments around the world I provided leadership 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

Global I work across business man maning and constructing external relationships supporting Business customers and options and serving as an advisor I ‘d like to present our first Greg um guest Greg who will kick things off by informing 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 internal legal group and actually work very closely with our um HR department also to handle numerous legal and HR matters that turn 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 mission is to set you as HR experts free to do fantastic

Implementation Barriers:
Although Papaya Global supplies combinations with different HR and financing systems, we experienced some hurdles throughout the combination process. Customizing the software application to align with our existing facilities showed to be more complicated than expected, leading to delays in the preliminary rollout.

Prices Issues:
The comprehensive functions offered by Papaya Global come at a cost, which a few of our smaller sized subsidiaries found to be prohibitively costly. As an international company, we had to thoroughly weigh the need for advanced performance against budget plan restraints.

Assistance Response Time:
On occasion, our teams experienced issues that required immediate help. However, the response time from Papaya Global’s customer support team was not constantly as timely as we would have liked, resulting in hold-ups in solving those concerns.

Our execution of involved a phased technique. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This permitted us to recognize and deal with integration difficulties early on. As the software ended up being more ingrained in our operations, we slowly broadened its usage to cover our entire international labor force.

The automated features structured our payroll processes, reducing the time spent on manual computations and compliance tracking. Routine training sessions and continuous support from Papaya helped our groups become skilled users of the software application, optimizing its capacity for our organization.

However, paying a workforce can be complicated. It is especially challenging for companies who utilize staff across numerous countries, as they must continuously consolidate various data streams, by hand track regional and national labor and policies, and spend important time and resources to establish local entities in new locations. These business are confronted with suboptimal, pricey alternatives, like opening a foreign subsidiary or employing an expert work company, which is a regional company that hires staff members on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble hiring qualified workers, an increase of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.

provides an option supporting all forms of employment. It supplies an end-to-end platform, from worker onboarding and continuous management to worldwide payments and. It helps companies with labor law compliance in the jurisdictions in which they run, uses management of work advantages, 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 space in international.

papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to participate in the complete 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 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 discussion hey there and thank you for joining us today we’re thrilled to have you here as we start a journey of information to guideline attaining

360 degree employee compliance where we’ll dive into the vital aspects of the staff member compliance management design throughout the session we’ll explore real life challenges genuine regional regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to safeguard your company and employees while staying compliant in an

Ever progressing regulative environment in the everchanging world of business and financing ensuring compliance with payroll regulations is not just important however also a legal necessary from the moment of employing to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance risks that have significant repercussions nevertheless with a deeper more nuanced understanding of their commitments companies can not only navigate the elaborate landscape however also proactively guarantee this 360 degree compliance the webinar is designed to equip you with the knowledge and tools needed to navigate the complex Terrain of compliance whether you’re a skilled P professional a small business owner or somebody brand-new to the field what I wish to do before we begin and I think it’s actually crucial

In our quest to improve effectiveness and accuracy in managing our international labor force, our international corporation turned to, a leading and labor force management software application. The shift intended to simplify the complex task of managing across different countries, currencies, and compliance guidelines.

The Good:

Compliance Management:
One of the standout functions of is its robust compliance management system. The software application automatically updates itself to stick to ever-evolving tax and labor laws across several jurisdictions. This has been invaluable in ensuring that our procedures remain compliant in each nation of operation.

is to state that the material here is not legal guidance it is simply for your details please consult your legal team ought to you have any questions or concerns in relation to anything that we have actually talked about today our secret take key takeaways by the end of the webinar will be an understanding of employee compliance dangers how to employ ly with self-confidence how to streamline information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.

work as your hris or is sort of your core employee record um to handle that staff member life process throughout their Journey with you as as an employee in addition to a payroll module we need to help you pay those employees and compensate them and benefits Administration module that allows you to assist handle the benefits you offer to your employees so actually thrilled to be here represent um bamb booy jar and discuss this topic um and I guess from my perspective I’ll I’ll probably supply a great deal of a concentrate on the US side of things when we speak about kind of compliance so pleased to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and tell the audience a little bit about papay worldwide yes absolutely thank you Ian hi everybody I’m Gina dorelis I’m the Work professional manager.

at I manage the work Council in the US APAC EMA and Israel area I also serve as us Council for I’m certified in New york city 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 work force company to employees serving in over.

160 nations all right thank you so both I feel completely underqualified sitting here with you both well I forgot to point out as we were sort of like going through the introduction so it’s truly actually great to in fact 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 already so if you want to continue inform where you are that would be absolutely fantastic whilst we just wait on everybody else to kind of like participate in there we go Chicago also well um so whil we’re doing that I’m awaiting everyone to kind of join I’ll simply run us through the program um today we are going to talk about hiring Talent new greater Details Management termination compliance and automation wow the chat has got actually actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is wonderful so uh I’m hoping that we’re actually going to have some really terrific commentary and concerns throughout the uh the webinar too all right 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 staff member and their information is Papaya Global 5 complex without fail and an.

Ever developing relationship that begins the moment a person signs up with a company it continues throughout their work and Beyond this journey can be divided into k to a number of essential stages whilst we’re really you understand that they’re used with us so on boarding everyday operations payment and benefits professional development then we get to the offboarding and even advocacy so it even happens after the employee has left your employment throughout the journey companies are accountable for collecting keeping safeguarding worker data in compliance with information privacy policies no matter where it is you’re running around the globe it often involves executing safe and secure information management systems and guaranteeing stringent adherence to regional requirements to protect both the worker and the company the evolution of staff member data and management c.