A CFO’s Point of view on Papaya Global Keep Updated Over Multiple Pcs…
The platform enables companies to manage their global workforce and abide by local work regulations and tax laws. Papaya Global uses a series of services, consisting of payroll management, benefits administration, compliance management, time and presence tracking, and HR management. The platform is developed to streamline the complexities of international payroll and provide real-time visibility and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New york city, London, and Kiev.
In the dynamic landscape of global business operations, handling payroll across borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a worldwide company, I understand the critical value of efficient and compliant payroll management. In our pursuit of quality, we have actually welcomed ingenious solutions to improve our processes, and one such transformative tool is Software.
The Obstacle of International Payroll:
Global growth produces varied challenges, and payroll management is no exception. Differing tax guidelines, varying employment laws, and multiple currencies make it necessary for companies to embrace sophisticated options to make sure precision, compliance, and efficiency in payroll processing.
Software: A Comprehensive Option:
staff members so it’s really essential to guarantee that you’ve thought about from the beginning any post-termination constraints that you want to put into the agreement of employment that they’re enforceable so that suggests you require to truly think about what it is you’re looking to protect and why clearly Define what’s included within the scope of that secret information and address the duration of constraint post-determination that you want to apply and be truly able to to justify that in relation to intellectual property the position really depends on the type of copyright you’re seeking to protect and also the jurisdiction so for example from a copyright point of view in the Netherlands completion customer is most likely to have the um intellectual property rights in a copyright that the workers produced who’s been under their supervision and control automatically however in someplace like Poland for example that automatic right might not be there which task would require to flow through the chain uh contractually so it really depends on the jurisdiction and the type of IP fine thank you Elizabeth Steve was remaining on the topic of contracts Miss categorized misclassifying employees
Papaya Global Software application has emerged as a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, user-friendly interface. As the CFO, I have experienced firsthand the favorable impact of on our organization’s financial operations.
Unified Worldwide Payroll Processing:
enables our company to procedure payroll seamlessly across several nations. The platform’s unified method permits consistent payroll estimations, decreasing mistakes and guaranteeing compliance with local policies. This has actually considerably reduced the risks related to global payroll processing.
also crucial for if in the future somebody states misclassification you have your file supported by the requisite documents which the best examination tools to reveal somebody that you had a thoughtful procedure therefore what do you have to include in that process it’s the who the what the where and the when who are you handling are you handling a private 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 professional than an employee so for instance accounting
I.T crafting the creatives these all lend themselves more to that evaluation of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they have to be on site and managed once again another key element is the management and supervision of the uh worker and then finally when is it a particular task is it a six-month job six years all of this is manageable however 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 have actually enhanced it this year so that we can roll it out internationally these tools take a questionnaire list for the worker the worker submits and fills these questions out therefore does the end client or the recipient of the services they both put their details into the tool and after that it does an assessment waiting the different questions because not every jurisdiction has the exact same feeling about a few of these questions some think they’re more crucial than others and it comes out with a red yellow or green red you’re most likely an employee yellow you’re on the cusp we can probably assist you with that in terms of a few of the important things you need to bolster to make sure that you are given that examination of uh independent specialist or green where you were examined as an as a independent specialist once that evaluation is done all the requisite files are underneath it so that if later on there
Browsing the intricacies of worldwide work laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our company current with modifications in regulations throughout jurisdictions. This makes sure that our payroll procedures stick to the most recent requirements, minimizing the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal companies who assist us keep our databases totally approximately date and we likewise contact we need to when we see an uncommon or or particularly intricate situations alright thanks Steve I can simply see a fast concern in the Q a window yes the session will be taped and sent to participants afterwards um moving back to to the webinar itself Ray company of record is controlled in a different way around the world and the German law for instance it’s classed as employee leasing can you shed any light on some of the special factors to consider for countries and where the eor model isn’t regulated yes Ian employee leasing or labor leasing as it’s also called which is prevalent in several countries particularly in Europe imposes stringent guidelines on items such as the length of assignment it also assigns workers to collective bargaining contracts that gives them rights and advantages but even in the nations that don’t have those strict guidelines for example the UK Canada and the nordics there are regulations for each country and each employee is treated the same as all the other workers in that country and all those guidelines need to be abided by fine thank you Ray um Kathy moving I would state to yourself what do business need to consider when identifying agreement status to secure themselves and the rights of hires what are the advantages and disadvantages of hiring professionals and Freelancers versus long-term employees so obviously the the benefit of contractors versus workers is the the flexibility for both the worker and for the company um however I can’t worry enough how crucial it is to have a constant extensive and a well-documented compliance
Papaya Global Keep Updated Over Multiple Pcs and Time Cost Savings:
The software’s automation abilities have actually significantly decreased the time and effort required for payroll processing. Manual information entry and repeated jobs have actually been lessened, allowing our financing team to concentrate on strategic initiatives rather than administrative concerns. This has led to increased performance and performance within our financial operations.
in one given that each state has its own policies Californians are a few of the most stringent an example is pay slips on a payslip in California the right information has to be on the payslip in the ideal format and in the right position if you’re in breach of of guidelines for payslips the fines are provided per payslip so that’s each staff member each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to stress to think about and we’re just 2 concerns in and 10 minutes or two hiring in one country is difficult enough however when employing in a you know on a worldwide level it’s a totally different story you need to make sure that you depend on date with present in addition to pending regional labor laws Steve um how do you make sure and make sure that individuals 2.0 group is on top of an ever-changing landscape and that your customers are totally supported and I’ll organize this into three essential things we perform in most importantly you require to have the ideal group so we work with a group of global experts in Work Practices um that ex that team of experts includes lawyers it includes payroll specialists it consists of HR experts and these are individuals that not only understand the laws in these in these countries and regions but they also understand the languages they understand the local practices they understand the cultures and it is necessary to have that ideal group and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies extensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt financial information is vital for decision-making. The platform’s reporting capabilities empower me to make educated tactical choices based on real-time insights into our worldwide payroll data.
application and its scope and the way that it applies to employment law in practice can be evaluated through the judicial system by way of case law examples of that would be the gotten rights regulation otherwise called the 2p policies in the UK the working time policies which has had numerous hairs of that legislation tested especially around vacation pay and of course as Kathy’s going to come on to speak about later on work status which there’s been several precedence set over the years so I believe it’s really that continuous evolution of the work law landscape that you truly need to browse when when working in Europe okay thank you Elizabeth Ray what about you from your individual experience while moving across the pond as discussed each nation has various regulations however the United States is essentially 50 countries
Scalability for Service Development:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into brand-new markets, the software flawlessly accommodates modifications in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the progressing needs of our global organization.
Worldwide Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Gander who is our senior vice president of customer service and I would state separately and jointly these three people have Years of experience in in work law and global Work Practices so thank you it’s a pleasure to be with everyone here today seems like we have actually got the right people with us today and in in addition to to those well we also have among our own Stars erase share head of Global Services at papaya International inform us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the company for around four and a half years as head of Partnerships I have actually developed Papaya’s network of in-country Partners in over 160 locations on a personal aspect and related to our subject today I have actually had the opportunity to transfer and work in 3 different nations it is the company’s responsibility to ensure my security while residing in a foreign nation compliance with local laws and regulations is important for me or anybody else as an expat or as a local so today we have actually welcomed our trusted Partners individuals 2.0 to demonstrate the value of local
knowledge when companies Go Global thank you and delight in all right thank you as I stated let’s carry on to the pact program today’s webinar is an opportunity to ask the panel the questions you’ve been thinking about we’ll go over the facts a company requires to think about when opening a new entity and broadening into brand-new nations along with keeping things going we’ll cover aspects such as regional regulations considerations when working with compliance crucial challenges payments and what not to do it’s one of the most important things remembering what not to do um operating on an international level is not for the faint-hearted the larger a business grows the more they need to comprehend and handle understanding what to do in each brand-new situation as it increases is essential on lots of levels understanding local guidelines and regional laws along with business practices helps reduce Associated and worldwide growth papaya through our regional experts can browse possible dangers such as intellectual property security data personal privacy security problems guaranteeing the company’s operations remain compliant and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has proven to be an invaluable property in our quest for effective and certified global payroll management. As the CFO of a global business, I am confident in recommending Papaya Global to companies looking for to simplify their payroll processes, enhance compliance, and attain greater performance in managing their global labor force. The software’s ingenious features and commitment to quality align with our tactical goals, making it an integral part of our monetary operations.
publicly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly revealed settlements there’s likewise considerable legal costs there exists’s other charges there’s other costs behind that as well so the overall expense can be really substantial in the tens of millions of dollars or more and and those amounts are growing uh the reason why companies are getting it so incorrect is truly just the guidelines are complicated and they’re changing all the time think ir-35 in the UK which has been a continuous advancement for numerous years now and and still a great deal of uncertainty among business on what it really implies and how you deal with it most companies are just not familiar with the rules and and act as if the the rules are the same all over which they’re not so so motivate you to to be extremely proactive as you’re engaging uh workers from a category viewpoint okay thank you Stephen and returning to yourself Ray it’s not only the business that suffers in the long run what results can this have on the worker Papaya Global Keep Updated Over Multiple Pcs especially when it pertains to their own tax liabilities social security and benefits for instance jury and clearly the workers the opposite of the coin
I discover time and time again the employees typically misclassified unconsciously they don’t understand the conditions of employment or agreement and are told by the client why it’s most advantageous generally to the customer why you should be employed or participated in this fashion the worker may owe taxes and Social Security to the authorities the future pension and healthcare benefits of the worker can be affected and numerous times it can be years before this all falls out and by that time it’s far too late years have gone by they haven’t added to pensions Etc so it’s a big effect that they never ever understood they were strolling into you could not agree with you more if you say the UK for example hmrc can go back as much as ten years um Kathy companies are securing insurance coverage versus misclassification but typically premiums are only covering the expense of legal fees whilst the average claim evaluated against employers corresponds to to 40 or 50 percent of the base pay of employee is there any point in taking out insurance coverage and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes penalty and interest for the most part I have not seen it a minimum of so uh the the other location that I do believe if you managed to get the protection what we are saying is is that if your compliance program is not up to pack you could be rejected protection on the basis of the truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Keep Updated Over Multiple Pcs …
The thorough functions of come at a cost,
Recent years have actually seen a dramatic change to the workforce as the increase of remote work has broken down geographical barriers to employing. Businesses can now work with personnel from anywhere worldwide, allowing them to access the best available talent for any provided function. This provides employees more liberty to work from home and increase their income without transferring to costly areas or commuting fars away. A 2022 survey found that 87% of staff members who have the opportunity to work from another location take that chance. The break out of COVID-19, in conjunction with brand-new business connectivity software, sped up the relocate to remote work, including in industries previously hesitant to accept the trend.
insights are important to us and and your fellow attendees so first things initially though um let’s learn more about everyone my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had roles in all type of Industries retail and Appeal to Aerospace in all kinds of services start-up to matrixed environments around the world I offered management and strategy to populations of more than 100,000 workers on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
Global I work across the business male maning and building external relationships supporting Enterprise customers and options and acting as a consultant I wish 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 stated my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our internal legal team and really work very carefully with our um HR department also to deal with various legal and HR matters that come up so truly thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our mission is to set you as HR experts complimentary to do fantastic
Although Papaya Global provides integrations with various HR and finance systems, we came across some difficulties during the combination procedure. Tailoring the software application to align with our existing infrastructure showed to be more complicated than expected, resulting in hold-ups in the preliminary rollout.
The comprehensive functions provided by Papaya Global come at a cost, which a few of our smaller sized subsidiaries discovered to be prohibitively pricey. As a global organization, we needed to thoroughly weigh the need for innovative functionality versus budget restrictions.
Assistance Action Time:
On occasion, our teams experienced concerns that needed immediate assistance. However, the action time from Papaya Global’s customer assistance group was not always as prompt as we would have liked, resulting in hold-ups in resolving those concerns.
Our execution of involved a phased technique. We began by onboarding a few subsidiaries to test the system’s compatibility with our existing processes. This enabled us to recognize and deal with combination obstacles early on. As the software application became more ingrained in our operations, we gradually broadened its usage to cover our whole global workforce.
The automated functions streamlined our payroll procedures, reducing the time invested in manual computations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our groups end up being skilled users of the software application, maximizing its potential for our organization.
Business that employee workers across numerous countries typically face detailed difficulties when it concerns managing their labor force. Among the biggest obstacles is combining various data streams and sticking to varied local and national labor regulations, which can be both time-consuming and pricey. Furthermore, establishing local entities in brand-new regions can be a pricey and suboptimal option, with options such as opening a foreign subsidiary or hiring a professional employment organization (PEO) often charging up to 15% of the payroll. These challenges have resulted in a significant increase in difficulty recruiting certified workers, with 75% of employers reporting this issue in 2022, a 21% increase from 2019. The payroll and HR options market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers a solution supporting all kinds of employment. It provides an end-to-end platform, from staff member onboarding and ongoing management to international payments and. It helps business with labor law compliance in the jurisdictions in which they operate, uses management of work advantages, and guarantees information 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 worldwide.
papaya this webcast has actually 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 brand-new tab will open in your browser with the webcast study please make 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 discussion hey there and thank you for joining us today we’re thrilled to have you here as we embark on a journey of data to policy achieving
360 degree employee compliance where we’ll dive into the vital elements of the employee compliance management design throughout the session we’ll explore real life difficulties genuine local policies best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to secure your company and employees while remaining compliant in an
Ever developing regulative environment in the everchanging world of business and finance making sure compliance with payroll guidelines is not just essential however also a legal necessary from the minute of employing 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 much deeper more nuanced understanding of their commitments companies can not just navigate the intricate landscape but also proactively guarantee this 360 degree compliance the webinar is designed to equip you with the understanding and tools necessary to navigate the complex Surface of compliance whether you’re a seasoned P expert a small business owner or someone brand-new to the field what I wish to do before we start and I believe it’s truly important
In our mission to enhance effectiveness and precision in handling our global labor force, our multinational corporation turned to, a leading and labor force management software. The shift intended to streamline the complex task of handling across various countries, currencies, and compliance regulations.
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 throughout numerous jurisdictions. This has been important in guaranteeing that our procedures remain certified in each nation of operation.
is to state that the material here is not legal suggestions it is simply for your info please consult your legal group must you have any questions or concerns in relation to anything that we’ve gone over today our key take essential takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to hire ly with self-confidence how to simplify data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we have actually.
serve as your hris or is kind of your core worker record um to handle that employee life cycle throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those staff members and compensate them and advantages Administration module that allows you to assist handle the benefits you supply to your staff members so really excited to be here represent um bamb booy jar and discuss this topic um and I think from my viewpoint I’ll I’ll most likely offer a lot of a focus on the United States side of things when we talk about type of compliance so delighted to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a little bit about papay worldwide yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment specialist supervisor.
at I handle the employment Council in the US APAC EMA and Israel region I also act as us Council for I’m certified in New York and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and labor force management as a Service work force supplier to workers serving in over.
160 countries all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to point out as we were type of like going through the introduction so it’s really really great to actually see in the webinar chat where everybody’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 tell where you are that would be definitely fantastic whilst we just await everyone else to type of like participate in there we go Chicago also well um so whil we’re doing that I’m awaiting everybody to kind of join I’ll simply run us through the agenda um today we are going to go over hiring Talent brand-new higher Details Management termination compliance and automation wow the chat has got actually actually hectic 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 truly great commentary and questions throughout the uh the webinar as well alright so that’s the program 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 Keep Updated Over Multiple Pcs diverse without fail and an.
Ever progressing relationship that begins the minute a person signs up with an organization it continues throughout their work and Beyond this journey can be divided into k to several key phases whilst we’re really you understand that they’re employed with us so on boarding daily operations settlement and benefits professional development then we get to the offboarding and even advocacy so it even occurs after the worker has actually left your work throughout the journey organizations are responsible for collecting keeping safeguarding employee data in compliance with data personal privacy policies no matter where it is you’re running worldwide it typically involves implementing safe information management systems and making sure stringent adherence to local requirements to secure both the worker and the company the advancement of employee data and management c.