Papaya Global Year End 2021 South Africa 2024 – All You Need To Know

Payroll and payments  run smoothly …Papaya Global Year End 2021 South Africa

 

if they depend on the needed several procedures 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 challenges business face when they’re making payments to employees or otherwise that’s a great concern I constantly toss this back and state what is it what does not need to be consisted of right and what does

it need to be thought about there’s differing Bank information so the length of an eye band a swift an account number routing code per country there’s payment timespan there’s payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer’s own in-country account so there’s complexity any place you look ideal eventually constructing a knowledge base is definitely important but all over you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it’s closer than ever I believe there’s now a bit more acknowledgment that payroll payments are absolutely essential and innovation is permitting us to type of move forward with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing teams work better together than ever um I’m constantly amazed when individuals say I’ve split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn’t work in the payroll profession would they split the payroll payment from computation 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 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 however also paying statutory authorities and on statutory 3rd parties so with the

world we reside in and wellness being more and more essential to contribute to type of the level of intricacy there’s more and more advantages being organ or being provided by services across the world so once again you’re just wanting to include increasingly more payments to this currently complex landscape so if you sort of got any experience well I’m from your vast experience here and I’m sure but have you got any experience in kind of real difficulties or real tough type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams 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 understand in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we require to develop extra handoffs in the processes that we operate in they just make them more timely they make them less efficient and they don’t make them what they require to be in in an age 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 tough as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any service has from a cost point of view from an impact perspective on staff members it is absolutely critical 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 need to be done right it has the most significant detrimental effect on people’s wellness and lots of other elements if individuals aren’t paid uh I’ve constantly been surprised coming into this Market kind of the last five to 10 years is how little thanks the

payroll group get um so I’m not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it ‘d be fantastic to hear your success story and whether that’s been from all workers or not um however ultimately payroll is such an essential cycle we all find out about it when it fails everyone 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 consider as well um so yeah it’s also like why WI-Fi Global why all of this things is absolutely vital that all of this things is done properly so leveraging the first International Payments very first payroll payment solution is a terrific first step um supplying an end-to-end payroll option for your workers globally once again I believe is another big um process once again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of organizations and minimizing the number of tools platforms and checking account they require for their Global 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 ever 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 problems where things have not gone rather where they’re meant to be um I don’t 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 everybody that’s associated with those procedures and likewise so picture sorry I’m just I was simply gon na say picture 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 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 the number of Post-it notes you got however it would certainly be an interesting task trying 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 require days of the week to try to look through them and in fact see what was going on and type of shot to return to everyone so carrying on appearance why do business select to primary different bank accounts there are services out there doing exactly this for specific countries and I’ve worked in a company or numerous organizations doing exactly that I can say it doesn’t always feel efficient and it does create more work I know we’re not purposely doing that we’re not producing additional work for any person where we do not need to and any person that’s dealing with 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 quantity that we are I think numerous reasons one is it’s the requirement I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a number 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 contribute to that people have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there’s a variety I believe this is a procedure that requires taking a look at it requires changing however eventually people are very stuck with what they recognize

with ideal um modification is a challenging thing all of us don’t like modification um so I think it’s just type of moving away from the standard as we’ve said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having keeping numerous bank accounts however there’s a big quantity of intricacy opts for establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it’s set up with the best user accesses for specific people so the complexity is big but I think the sincere response is change um individuals have not had the ability to change or haven’t had always the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you’ve struck the nail on the head I think 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 reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does posture several challenges um so Johnny could you inform

 

 

Cost Considerations and Papaya Global Year End 2021 South Africa …
The comprehensive functions of come at a cost,

 

Over the past couple of decades, the labor force has gone through a significant transformation with the emergence of remote work, which has removed geographical restrictions on hiring. This has actually allowed services to hire talent from all over the world, allowing them to assemble the very best possible group for each function. As a result, staff members have actually acquired greater versatility to work from home and increase their incomes without having to move to pricey locations or commute cross countries. According to a 2022 survey, 87% of staff members who have the option to work remotely choose to do so. The COVID-19 pandemic, combined with improvements in enterprise connectivity software application, has even more accelerated the shift towards remote work, even in industries that were at first hesitant to adopt the pattern.

insights are valuable to us and and your fellow guests 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 functions in all type of Industries retail and Charm to Aerospace in all types of services startup to matrixed environments across the globe I supplied management and strategy to populations of more than 100,000 employees on a monthly basis and in over 170 nations today I’m the perel strategist for papaya

International I work across business guy maning and developing external relationships supporting Enterprise clients and services and serving as an advisor I ‘d like to introduce our 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 internal legal team and in fact work very carefully with our um HR department also to deal with different legal and HR matters that turn up so really delighted to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our objective is to set you as HR experts complimentary to do excellent

Implementation Obstacles:
Although Papaya Global offers integrations with different HR and finance systems, we came across some hurdles during the integration process. Tailoring the software application to align with our existing infrastructure showed to be more intricate than expected, resulting in delays in the preliminary rollout.

Pricing Issues:
The substantial features offered by Papaya Global come at a cost, which some of our smaller sized subsidiaries found to be excessively costly. As a global company, we needed to thoroughly weigh the need for sophisticated performance versus budget restraints.

Support Action Time:
On occasion, our teams experienced problems that required immediate help. However, the response time from Papaya Global’s consumer support team was not always as prompt as we would have liked, leading to delays in resolving those concerns.

Our implementation of involved a phased method. We began by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing procedures. This enabled us to recognize and address combination obstacles early on. As the software application ended up being more implanted in our operations, we gradually broadened its usage to cover our entire global labor force.

The automated functions structured our payroll processes, lowering the time invested in manual calculations and compliance tracking. Regular training sessions and continuous assistance from Papaya helped our groups become proficient users of the software, maximizing its capacity for our company.

Nevertheless, paying a workforce can be complicated. It is particularly challenging for business who utilize personnel throughout multiple nations, as they must constantly consolidate various information streams, manually track regional and national labor and regulations, and invest valuable time and resources to establish local entities in brand-new areas. These companies are faced with suboptimal, expensive options, like opening a foreign subsidiary or working with a professional employment organization, which is a local company that works with employees on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty recruiting qualified workers, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.

offers a service supporting all types of work. It provides an end-to-end platform, from staff member onboarding and continuous management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, provides management of employment benefits, and guarantees 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 specialist in payroll and labor force management. She co-founded after seeing the innovation space in global.

papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to participate in the complete webcast in order to receive your credits if you have any questions 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 be sure 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 presentation hello and thank you for joining us today we’re enjoyed have you here as we start a journey of information to regulation achieving

360 degree employee compliance where we’ll dive into the vital aspects of the staff member compliance management model throughout the session we’ll explore real world difficulties genuine regional guidelines finest 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 workers while remaining compliant in an

Ever developing regulatory environment in the everchanging world of organization and financing guaranteeing compliance with payroll regulations is not only essential but likewise a legal imperative from the moment of working with to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance risks that have far-reaching effects nevertheless with a deeper more nuanced understanding of their commitments companies can not only navigate the intricate landscape however likewise proactively guarantee this 360 degree compliance the webinar is designed to equip you with the understanding and tools required to navigate the complex Surface of compliance whether you’re an experienced P professional a small company owner or someone new to the field what I want to do before we begin and I think it’s actually crucial

In our quest to enhance efficiency and accuracy in managing our worldwide workforce, our international corporation turned to, a leading and workforce management software application. The shift aimed to simplify the complex job of managing throughout numerous countries, currencies, and compliance regulations.

The Great:

Compliance Management:
One of the standout functions of is its robust compliance management system. The software application immediately updates itself to abide by ever-evolving tax and labor laws across multiple jurisdictions. This has actually been important in guaranteeing that our procedures stay certified in each nation of operation.

is to state that the material here is illegal advice it is just for your details please consult your legal group needs to you have any questions or concerns in relation to anything that we have actually gone over today our key take essential takeaways by the end of the webinar will be an understanding of worker compliance dangers how to employ ly with confidence how to simplify information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.

function as your hris or is sort of your core employee record um to manage that worker life cycle 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 allows you to help manage the advantages you offer to your employees so truly 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 probably supply a great deal of a concentrate on the United States side of things when we speak about type of compliance so pleased 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 definitely thank you Ian hello everyone I’m Gina dorelis I’m the Employment expert supervisor.

at I handle the employment Council in the United States APAC EMA and Israel region I also act 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 offer payroll payments and labor force management as a Service labor force supplier to employees serving in over.

160 nations all right 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 introduction so it’s really actually great to really see in the webinar chat where everyone’s in fact participating in from today I can see that we have individuals in Las Vegas and Indiana already so if you wish to carry on inform where you are that would be definitely great whilst we just wait on everyone else to sort of like participate in there we go Chicago too well um so whil we’re doing that I’m waiting for everyone to type of join I’ll just run us through the program um today we are going to discuss working with Skill brand-new higher Details Management termination compliance and automation wow the chat has actually got actually really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is great so uh I’m hoping that we’re really going to have some really great commentary and concerns throughout the uh the webinar also alright so that’s the agenda then what I want to Now cover is the the compliance and the Privacy side of things so the the Journey of an employee and their information is Papaya Global Year End 2021 South Africa multifaceted without fail and an.

Ever progressing relationship that begins the minute an individual signs up with an organization it continues throughout their work and Beyond this journey can be divided into k to several key stages whilst we’re really you understand that they’re utilized with us so on boarding everyday operations payment and benefits expert development then we get to the offboarding and even advocacy so it even occurs after the staff member has actually left your work throughout the journey organizations are responsible for gathering saving protecting worker information in compliance with information personal privacy policies no matter where it is you’re running all over the world it often involves executing safe information management systems and ensuring rigorous adherence to local requirements to protect both the worker and the company the development of employee data and management c.