A CFO’s Perspective on Compare Papaya Global And Quickbooks Payroll…
Papaya Global’s platform streamlines international labor force management for companies, making sure compliance with regional policies and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and attendance tracking, and HR assistance. The platform centralizes global payroll operations, supplying businesses with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of worldwide service operations, managing payroll across borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of an international business, I comprehend the crucial value of efficient and compliant payroll management. In our pursuit of quality, we have actually welcomed ingenious options to simplify our procedures, and one such transformative tool is Software.
The Difficulty of Global Payroll:
Worldwide growth produces diverse challenges, and payroll management is no exception. Differing tax regulations, varying work laws, and multiple currencies make it imperative for organizations to adopt advanced services to guarantee precision, compliance, and performance in payroll processing.
Software: A Comprehensive Option:
It is essential to think about and consist of post-termination limitations in the employment agreement to ensure enforceability. You must carefully identify what you are seeking to secure and plainly define the secret information that falls within its scope. Furthermore, specify the period of the post-termination restriction and be prepared to justify it in relation to copyright. The rules regarding intellectual property vary depending on the kind of IP and the jurisdiction. For example, in the Netherlands, completion client is most likely to have copyright rights over works produced by employees under their supervision, while in Poland, legal assignment may be required.
Papaya Global Software application has become a game-changer in the realm of global payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, user-friendly user interface. As the CFO, I have experienced firsthand the positive impact of on our company’s financial operations.
Unified International Payroll Processing:
allows our company to procedure payroll flawlessly throughout numerous countries. The platform’s unified approach enables consistent payroll calculations, decreasing mistakes and ensuring compliance with regional policies. This has significantly mitigated the dangers related to international payroll processing.
also crucial for if in the future somebody says misclassification you have your file supported by the requisite files and that the ideal assessment tools to reveal somebody that you had a thoughtful process therefore what do you have to include because process it’s the who the what the where and the when who are you handling are you dealing with an individual or are you dealing with a personal Service Corporation and how are they operating what are they doing is it the kind of work that lends itself more to being an independent specialist than a staff member so for instance accounting
I.T crafting the creatives these all lend themselves more to that examination of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they have to be on website and handled again another essential element is the management and guidance of the uh worker and then finally when is it a particular project is it a six-month project 6 years all of this is manageable but it needs to be recorded and it has to be completely um investigated so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out globally these tools take a survey list for the employee the worker fills out and fills these questions out and so does completion client or the recipient of the services they both put their details into the tool and then it does an examination waiting the different questions because not every jurisdiction has the exact same sensation about a few of these concerns some believe they’re more important than others and it brings out a red yellow or green red you’re probably a worker yellow you’re on the cusp we can probably assist you with that in terms of some of the things you need to reinforce to make sure that you are considered that assessment of uh independent specialist or green where you were assessed as an as a independent specialist once that assessment is done all the requisite files are beneath it so that if later there
Browsing the intricacies of international work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our organization updated with changes in guidelines throughout jurisdictions. This ensures that our payroll processes comply with the latest requirements, reducing the risk of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal firms who help us keep our databases totally as much as date and we also get in touch with we need to when we see an unusual or or particularly complex scenarios all right thanks Steve I can simply see a fast question in the Q a window yes the session will be taped and sent out to attendees afterwards um moving back to to the webinar itself Ray employer of record is managed differently worldwide and the German law for example it’s classed as employee leasing can you shed any light on a few of the unique considerations for nations and where the eor design isn’t managed yes Ian staff member leasing or labor leasing as it’s likewise called which is prevalent in numerous countries particularly in Europe enforces rigorous regulations on products such as the length of project it likewise designates employees to collective bargaining agreements that gives them rights and advantages but even in the nations that don’t have those rigorous guidelines for instance the UK Canada and the nordics there are guidelines for each country and each employee is dealt with the same as all the other workers in that country and all those policies require to be complied with alright thank you Ray um Kathy moving I would say to yourself what do business need to factor in when identifying agreement status to protect themselves and the rights of hires what are the pros and cons of hiring professionals and Freelancers versus long-term employees so clearly the the advantage of specialists versus workers is the the flexibility for both the employee and for the company um however I can’t stress enough how essential it is to have a constant extensive and a well-documented compliance
Compare Papaya Global And Quickbooks Payroll and Time Savings:
The software’s automation capabilities have significantly minimized the time and effort required for payroll processing. Manual information entry and repeated tasks have actually been minimized, enabling our finance team to concentrate on strategic efforts rather than administrative burdens. This has led to increased effectiveness and productivity within our monetary operations.
in one because each state has its own regulations Californians are some of the most rigorous an example is pay slips on a payslip in California the best details needs to be on the payslip in the ideal format and in the ideal position if you remain in breach of of regulations for payslips the fines are provided per payslip so that’s each staff member each pay slip will incur a great thanks Ray thank you Elizabeth a lot to worry to consider and we’re only two questions in and 10 minutes or so employing in one nation is hard enough but when employing in a you understand on a worldwide level it’s a completely various story you require to make sure that you depend on date with present along with pending regional labor laws Steve um how do you ensure and ensure that individuals 2.0 team is on top of an ever-changing landscape and that your clients are totally supported and I’ll organize this into three crucial things we do in first and foremost you need to have the right group so we hire a team of international experts in Employment Practices um that ex that group of professionals consists of attorneys it includes payroll professionals it consists of HR experts and these are individuals that not just know the laws in these in these countries and regions but they also understand the languages they know the local practices they know the cultures and it is essential to have that best group and really have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides extensive real-time analytics and reporting tools. As a CFO, having access to accurate and timely financial data is essential for decision-making. The platform’s reporting capabilities empower me to make informed tactical choices based upon real-time insights into our worldwide payroll information.
application and its scope and the manner in which it applies to work law in practice can be tested through the judicial system by way of case law examples of that would be the obtained rights regulation otherwise referred to as the 2p guidelines in the UK the working time regulations which has actually had various hairs of that legislation evaluated particularly around holiday pay and naturally as Kathy’s going to come on to speak about later on work status which there’s been numerous precedence set for many years so I think it’s actually that continuous evolution of the work law landscape that you actually need to browse when when working in Europe all right thank you Elizabeth Ray what about you from your personal experience while crossing the pond as pointed out each nation has various policies however the United States is essentially 50 nations
Scalability for Service Development:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software flawlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the developing needs of our worldwide company.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Gander who is our senior vice president of customer service and I would say individually and collectively these three people have Years of experience in in work law and international Work Practices so thank you it’s a pleasure to be with everyone here today seems like we’ve got the right people with us today and in in addition to to those well we likewise have among our own Stars delete share head of Global Solutions at papaya Worldwide tell us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the business for around 4 and a half years as head of Collaborations I have actually developed Papaya’s network of in-country Partners in over 160 places on a personal aspect and related to our subject today I have actually had the opportunity to relocate and operate in 3 different nations it is the business’s duty to ensure my protection while residing in a foreign country compliance with local laws and regulations is vital for me or anybody else as an expat or as a regional so today we have actually welcomed our trusted Partners individuals 2.0 to show the importance of regional
know-how when business Go Worldwide thank you and take pleasure in okay thank you as I stated let’s move on to the pact agenda today’s webinar is an opportunity to ask the panel the questions you’ve been thinking of we’ll discuss the realities a business requires to think about when opening a brand-new entity and broadening into brand-new countries as well as keeping things going we’ll cover aspects such as local policies considerations when employing compliance key obstacles payments and what not to do it’s one of the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the larger a company grows the more they require to comprehend and manage knowing what to do in each new circumstance as it rises is very important on many levels comprehending regional guidelines and regional laws along with organization practices assists reduce Associated and worldwide expansion papaya through our regional experts can navigate potential threats such as intellectual property protection information personal privacy security problems guaranteeing the business’s operations remain compliant and secure tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has actually proven to be an indispensable possession in our quest for effective and certified global payroll management. As the CFO of a global company, I am positive in advising Papaya Global to companies seeking to streamline their payroll procedures, enhance compliance, and accomplish greater efficiency in managing their global workforce. The software application’s innovative functions and dedication to excellence align with our tactical objectives, making it an essential part of our monetary operations.
openly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly announced settlements there’s also considerable legal expenses there’s there’s other penalties there’s other costs behind that too so the overall cost can be very considerable in the tens of countless dollars or more and and those quantities are growing uh the reason why companies are getting it so wrong is really just the guidelines are complicated and they’re altering all the time believe ir-35 in the UK which has been an ongoing advancement for a number of years now and and still a great deal of uncertainty among companies on what it truly means and how you handle it most companies are merely not familiar with the guidelines and and act as if the the rules are the same everywhere which they’re not so so encourage you to to be very proactive as you’re engaging uh employees from a category point of view all right thank you Stephen and returning to yourself Ray it’s not only the business that suffers in the long run what impacts can this have on the staff member Compare Papaya Global And Quickbooks Payroll particularly when it concerns their own tax liabilities social security and advantages for example jury and certainly the employees the other side of the coin
I discover time and time again the workers often misclassified unknowingly they do not understand the conditions of work or agreement and are informed by the client why it’s most advantageous generally to the customer why you must be used or taken part in this fashion the employee may owe taxes and Social Security to the authorities the future pension and health care advantages of the worker can be affected and a number of times it can be years before this all falls out and by that time it’s far too late years have passed they haven’t added to pensions Etc so it’s a huge effect that they never understood they were strolling into you could not agree with you more if you state the UK for instance hmrc can go back as much as ten years um Kathy companies are taking out insurance against misclassification however typically premiums are only covering the expense of legal fees whilst the typical claim evaluated versus employers corresponds to to 40 or half of the base pay of worker is there any point in getting insurance coverage and what is the alternative yeah to your point um you do need to check out the small print it is not covering the taxes charge and interest in many cases I have not seen it at least so uh the the other area that I do believe if you managed to get the coverage what we are saying is is that if your compliance program is not up to pack you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Compare Papaya Global And Quickbooks Payroll …
The comprehensive functions 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 work with personnel from anywhere worldwide, allowing them to access the very best readily available talent for any given role. This provides workers more flexibility to work from home and increase their income without relocating to costly areas or travelling long distances. A 2022 survey discovered that 87% of staff members who have the opportunity to work remotely take that opportunity. The break out of COVID-19, in conjunction with new enterprise connectivity software application, sped up the relocate to remote work, including in industries previously reluctant to accept the pattern.
insights are important to us and and your fellow participants so first things first though um let’s learn more about everybody my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had roles in all sort of Industries retail and Beauty to Aerospace in all kinds of services startup to matrixed environments around the world I provided management and technique to populations of more than 100,000 employees on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
International I work throughout the business man maning and building external relationships supporting Business customers and solutions and serving as an advisor I want to introduce our very first Greg um visitor 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 said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal group and really work really closely with our um HR department also to handle different legal and HR matters that show up so actually thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our mission is to set you as HR experts free to do terrific
Although Papaya Global offers combinations with different HR and financing systems, we encountered some difficulties throughout the integration process. Tailoring the software to align with our existing facilities proved to be more intricate than prepared for, leading to delays in the initial rollout.
The comprehensive functions used by Papaya Global come at an expense, which some of our smaller sized subsidiaries found to be excessively expensive. As a global organization, we needed to thoroughly weigh the need for innovative functionality versus budget plan constraints.
Assistance Reaction Time:
On occasion, our groups experienced concerns that needed immediate support. However, the action time from Papaya Global’s client support team was not always as prompt as we would have liked, causing delays in fixing those problems.
Our implementation of included a phased method. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This enabled us to determine and attend to integration obstacles early on. As the software application became more ingrained in our operations, we slowly expanded its usage to cover our entire international labor force.
The automated features structured our payroll processes, reducing the time invested in manual calculations and compliance tracking. Routine training sessions and ongoing support from Papaya assisted our groups end up being skilled users of the software application, optimizing its potential for our organization.
Companies that staff member workers throughout numerous nations frequently deal with intricate obstacles when it concerns managing their workforce. Among the greatest difficulties is consolidating various data streams and sticking to varied regional and nationwide labor policies, which can be both time-consuming and pricey. Moreover, establishing regional entities in brand-new regions can be an expensive and suboptimal option, with alternatives such as opening a foreign subsidiary or employing an expert work organization (PEO) frequently charging up to 15% of the payroll. These obstacles have actually caused a considerable increase in problem hiring certified personnel, with 75% of employers reporting this concern in 2022, a 21% increase 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 service supporting all kinds of employment. It offers an end-to-end platform, from employee onboarding and continuous management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, provides management of employment advantages, and guarantees 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 specialist in payroll and labor force 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 get your credits if you have any questions during 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 sure to finish it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hello and thank you for joining us today we’re thrilled to have you here as we start a journey of information to regulation accomplishing
360 degree employee compliance where we’ll dive into the important elements of the staff member compliance management design throughout the session we’ll check out real life challenges real local regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to secure your organization and staff members while remaining compliant in an
Ever progressing regulative environment in the everchanging world of business and finance guaranteeing compliance with payroll guidelines is not only crucial however likewise a legal crucial from the moment of working with to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance threats that have significant repercussions nevertheless with a much deeper more nuanced understanding of their responsibilities organizations can not just navigate the intricate landscape but likewise proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools essential to navigate the complex Surface of compliance whether you’re an experienced P specialist a small company owner or somebody new to the field what I wish to do before we start and I think it’s really essential
In our quest to boost performance and accuracy in handling our international workforce, our multinational corporation turned to, a leading and labor force management software application. The transition intended to streamline the complex task of handling throughout various countries, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software application instantly updates itself to abide by ever-evolving tax and labor laws throughout several jurisdictions. This has actually been vital in making sure that our processes stay certified in each nation of operation.
is to state that the content here is not legal advice it is simply for your details please consult your legal team must you have any questions or issues in relation to anything that we have actually discussed today our secret take crucial takeaways by the end of the webinar will be an understanding of staff member compliance threats how to employ ly with confidence how to streamline data management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.
act as your hris or is kind of your core employee record um to handle that employee life cycle throughout their Journey with you as as a worker in addition to a payroll module we need to assist you pay those employees and compensate them and benefits Administration module that allows you to assist handle the advantages you offer to your staff members so really thrilled to be here represent um bamb booy container and talk about this topic um and I guess from my point of view I’ll I’ll probably offer a lot of a focus on the United States side of things when we discuss kind of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a bit about papay global yes definitely thank you Ian hey there everybody I’m Gina dorelis I’m the Work expert supervisor.
at I handle the work Council in the United States APAC EMA and Israel region I also serve as us Council for I’m accredited in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and labor force management as a Service work force service provider to employees serving in over.
160 nations fine 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 truly really great to actually see in the webinar chat where everyone’s in fact attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to continue inform where you are that would be absolutely wonderful whilst we simply await everybody else to sort 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 agenda um today we are going to talk about hiring Skill new greater Details Management termination compliance and automation wow the chat has got truly truly hectic 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 really going to have some truly excellent commentary and concerns throughout the uh the webinar too okay 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 Compare Papaya Global And Quickbooks Payroll complex without fail and an.
Ever evolving relationship that begins the moment a person signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to numerous essential stages whilst we’re really you understand that they’re utilized with us so on boarding daily operations payment and advantages 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 responsible for collecting storing securing staff member information in compliance with information personal privacy guidelines no matter where it is you’re operating worldwide it typically involves carrying out safe and secure data management systems and making sure strict adherence to local requirements to protect both the worker and the company the evolution of employee information and management c.