Papaya Global Frequently Asked Questions 2024 – All You Need To Know

Payroll and payments  run smoothly …Papaya Global Frequently Asked Questions

 

if they rely on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments point of view 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 an excellent concern I constantly throw this back and state what is it what doesn’t need to be included right and what does

it need to be considered 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 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 anywhere you look best ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type 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 innovation is permitting us to kind of move forward with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and finance teams work better together than ever um I’m always impressed when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 people wherever 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 crucial to add to type of the level of intricacy there’s more and more benefits being organ or being offered by businesses throughout the world so again you’re just aiming to add increasingly more payments to this already intricate landscape so if you sort of got any experience well I’m from your huge experience here and I’m sure however have you got any experience in kind of real challenges or real tough sort of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of decades I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding details 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 create additional handoffs at the same times that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an age that you understand that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single biggest liability that any company has from an expense viewpoint from an effect viewpoint on staff members it is absolutely vital that it’s done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive result on individuals’s wellness and lots of other aspects if people aren’t paid uh I’ve always been impressed entering this Market sort of the last five to 10 years is how little thanks the

payroll team get um so I’m uncertain anybody on this sort of webinar has been informed 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 however eventually payroll is such an essential cycle we all 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 workout and I think that’s how it’s seen from the external deem well um so yeah it’s also like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment option is a terrific first step um offering an end-to-end payroll service for your workers worldwide once again I think is another huge um process again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of organizations and reducing the number of tools platforms and savings account they require for their International payroll too could not 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 don’t expect to you do get the odd 5 or ten 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 do not think any of us are actually doing that for for the thanks

anyhow 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 easy as possible for everyone that’s associated with those processes and likewise so imagine sorry I’m simply I was just gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I’m sure we’re discussing numerous thousands potentially Millions envision getting that numerous thank you notes um I mean it ‘d be interesting to see how many Post-it notes you got but it would certainly be an intriguing task attempting to clean up all those up for sure oh absolutely I can’t envision the size of my my Outlook inbox if that held true um you ‘d require days of the week to try to browse them and really see what was going on and sort of shot to get back to everybody so moving on appearance why do business pick to primary different savings account there are organizations out there doing exactly this for specific countries and I’ve operated in a service or lots of businesses doing exactly that I can say it doesn’t constantly feel efficient and it does develop more work I understand we’re not purposely doing that we’re not producing extra work for anybody where we don’t need to and any person that’s dealing with that process 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 requirement I think individuals have got so utilized to we need a new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it’s not a requirement so I believe it’s just been the requirement and the standard the people have embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there’s a variety I believe this is a procedure that requires taking a look at it requires altering however eventually individuals are very stuck with what they’re familiar

with right um change is a difficult thing we all do not like modification um so I think it’s simply type of moving far from the standard as we’ve said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having keeping several savings account however there’s a substantial quantity of complexity goes with establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it’s set up with the ideal user accesses for private people so the complexity is big but I think the truthful response is modification um people have not been able to alter or haven’t had always the knowledge to really make that change into alternate Solutions aside from opening a savings 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 however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century or two there is a lot to track and this technique does pose several obstacles um so Johnny might you tell

 

 

Expense Factors to consider and Papaya Global Frequently Asked Questions …
The thorough features of come at a cost,

 

Current decades have seen a remarkable change to the workforce as the rise of remote work has actually broken down geographical barriers to working with. Businesses can now employ personnel from anywhere worldwide, enabling them to access the best available talent for any provided role. This provides workers more flexibility to work from home and increase their income without relocating to pricey locations or commuting cross countries. A 2022 survey discovered that 87% of workers who have the opportunity to work from another location take that opportunity. The outbreak of COVID-19, in conjunction with brand-new enterprise connectivity software application, accelerated the move to remote work, consisting of in industries previously reluctant to embrace the trend.

insights are valuable to us and and your fellow participants so first things first 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 have actually had roles in all kind of Industries retail and Appeal to Aerospace in all types of services startup to matrixed environments around the world I supplied management and method to populations of more than 100,000 employees on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya

International I work throughout business man maning and constructing external relationships supporting Enterprise clients and solutions and functioning as an advisor I wish to present our very first Greg um visitor 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 in-house legal team and in fact work very carefully with our um HR department too to manage different legal and HR matters that show up so actually 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 free to do excellent

Application Barriers:
Although Papaya Global offers combinations with numerous HR and finance systems, we encountered some difficulties during the integration procedure. Personalizing the software to align with our existing facilities proved to be more complex than expected, leading to hold-ups in the preliminary rollout.

Rates Issues:
The substantial features provided by Papaya Global come at a cost, which a few of our smaller sized subsidiaries found to be excessively costly. As a worldwide company, we needed to carefully weigh the need for advanced performance versus budget plan restraints.

Support Response Time:
On occasion, our groups experienced problems that needed urgent support. However, the reaction time from Papaya Global’s customer assistance group was not constantly as prompt as we would have liked, causing delays in resolving those problems.

Our execution of involved a phased approach. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This allowed us to recognize and address combination challenges early on. As the software ended up being more implanted in our operations, we slowly expanded its usage to cover our entire international labor force.

The automated functions streamlined our payroll processes, minimizing the time spent on manual estimations and compliance tracking. Routine training sessions and continuous assistance from Papaya assisted our teams end up being proficient users of the software, optimizing its potential for our company.

Nevertheless, paying a workforce can be intricate. It is particularly challenging for business who use personnel across several countries, as they must continuously consolidate different information streams, by hand track regional and nationwide labor and policies, and invest valuable time and resources to set up local entities in brand-new locations. These companies are confronted with suboptimal, expensive alternatives, like opening a foreign subsidiary or hiring a professional work organization, which is a local firm that works with staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty hiring qualified 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.

offers a service supporting all types of employment. It provides an end-to-end platform, from worker onboarding and continuous management to global payments and. It assists companies with labor law compliance in the jurisdictions in which they operate, provides management of work advantages, and makes sure data 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 expert in payroll and workforce management. She co-founded after seeing the technology space in international.

papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to go to the complete webcast in order to get your credits if you have any concerns throughout the webcast please click on 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 certain to finish it as soon as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hi and thank you for joining us today we’re thrilled to have you here as we start a journey of data to regulation achieving

360 degree staff member compliance where we’ll dive into the essential aspects of the staff member compliance management model throughout the session we’ll check out real world challenges genuine regional guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to safeguard your organization and employees while remaining compliant in an

Ever developing regulatory environment in the everchanging world of service and financing making sure compliance with payroll regulations is not only vital but also a legal essential from the moment of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance risks that have far-reaching effects nevertheless with a deeper more nuanced understanding of their commitments organizations can not only navigate the intricate landscape but likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools essential to browse the complex Terrain of compliance whether you’re a seasoned P specialist a small company owner or somebody brand-new to the field what I wish to do before we begin and I believe it’s truly important

In our quest to boost efficiency and accuracy in handling our worldwide labor force, our multinational corporation turned to, a leading and workforce management software. The transition intended to streamline the complex job of managing throughout different nations, currencies, and compliance guidelines.

The Great:

Compliance Management:
One of the standout features of is its robust compliance management system. The software application automatically updates itself to abide by ever-evolving tax and labor laws across several jurisdictions. This has been indispensable in making sure that our processes remain certified in each country of operation.

is to state that the content here is illegal advice it is merely for your info please consult your legal team must you have any concerns or concerns 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 worker compliance dangers how to work with ly with confidence how to streamline information management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.

act as your hris or is sort of your core staff member record um to manage that staff member life process throughout their Journey with you as as a worker in addition to a payroll module we need to assist you pay those workers and compensate them and advantages Administration module that permits you to assist handle the benefits you provide to your employees so actually delighted to be here represent um bamb booy jar and speak about this topic um and I guess from my perspective I’ll I’ll most likely offer a great deal 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 introduce yourself and tell the audience a bit about papay international yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment professional supervisor.

at I handle the work Council in the US APAC EMA and Israel area I likewise function as us Council for I’m licensed in New York and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and workforce management as a Service work force supplier to employees 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 type of like going through the intro so it’s really really great to actually see in the webinar chat where everybody’s really attending from today I can see that we have individuals in Las Vegas and Indiana already so if you want to continue tell where you are that would be definitely fantastic whilst we simply wait on everybody else to type of like participate there we go Chicago as well well um so whil we’re doing that I’m waiting for everybody to kind of join I’ll simply run us through the program um today we are going to discuss working with Talent brand-new higher Information Management termination compliance and automation wow the chat has actually got truly truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely everywhere which is fantastic so uh I’m hoping that we’re really going to have some actually fantastic commentary and concerns throughout the uh the webinar too fine so that’s the program 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 Frequently Asked Questions multifaceted without fail and an.

Ever progressing relationship that begins the minute a person joins an organization it continues throughout their work and Beyond this journey can be divided into k to numerous crucial stages whilst we’re really you know that they’re employed with us so on boarding day-to-day operations settlement and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the employee has actually left your employment throughout the journey companies are responsible for gathering storing securing staff member data in compliance with information personal privacy guidelines no matter where it is you’re operating around the globe it frequently includes implementing safe and secure information management systems and guaranteeing stringent adherence to regional requirements to safeguard both the staff member and the company the evolution of employee information and management c.