A CFO’s Point of view on Papaya Global Payroll Screenshots Employees…
Papaya Global’s platform streamlines global workforce management for companies, guaranteeing compliance with regional guidelines and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and participation tracking, and HR support. The platform centralizes international payroll operations, offering services with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of international service operations, managing payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a global business, I comprehend the vital significance of effective and certified payroll management. In our pursuit of quality, we have actually welcomed ingenious solutions to streamline our processes, and one such transformative tool is Software application.
The Difficulty of International Payroll:
Worldwide expansion causes diverse difficulties, and payroll management is no exception. Differing tax guidelines, differing work laws, and multiple currencies make it vital for companies to adopt sophisticated services to make sure precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Solution:
workers so it’s actually essential to make sure that you have actually considered from the start any post-termination limitations that you want to take into the agreement of work that they’re enforceable so that suggests you need to actually think of what it is you’re aiming to protect and why clearly Define what’s consisted of within the scope of that secret information and resolve the duration of limitation post-determination that you wish to use and be really able to to validate that in relation to copyright the position truly depends upon the type of copyright you’re seeking to safeguard and likewise the jurisdiction so for example from a copyright point of view in the Netherlands the end client is more likely to have the um intellectual property rights in a copyright that the employees produced who’s been under their guidance and control immediately however in someplace like Poland for instance that automatic right may not exist which project would need to stream through the chain uh contractually so it really depends on the jurisdiction and the kind of IP alright thank you Elizabeth Steve was remaining on the topic of contracts Miss classified misclassifying workers
Papaya Global Software has actually emerged as a game-changer in the world of international payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, easy to use interface. As the CFO, I have actually witnessed firsthand the favorable impact of on our organization’s monetary operations.
Unified Global Payroll Processing:
allows our company to process payroll perfectly across multiple countries. The platform’s unified approach permits consistent payroll computations, decreasing mistakes and ensuring compliance with regional regulations. This has actually substantially mitigated the risks connected with international payroll processing.
also essential for if later on someone states misclassification you have your file supported by the requisite files which the right assessment tools to reveal somebody that you had a thoughtful process therefore what do you need to include because procedure it’s the who the what the where and the when who are you dealing with are you handling a specific or are you dealing with a personal Service Corporation and how are they running what are they doing is it the type of work that provides itself more to being an independent professional than a staff member so for example accounting
I.T crafting the creatives these all lend themselves more to that assessment of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they have to be on website and managed once again another key factor is the management and supervision of the uh worker and after that finally when is it a specific project is it a six-month project six years all of this is manageable but it needs to be recorded and it has to be thoroughly 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 survey list for the worker the worker fills out and fills these questions out therefore does completion customer or the recipient of the services they both put their info into the tool and after that it does an assessment waiting the various concerns since not every jurisdiction has the same sensation about some of these concerns some believe they’re more important than others and it brings out 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 regards to a few of the important things you require to strengthen to make sure that you are considered that evaluation of uh independent professional or green where you were evaluated as an as a independent contractor once that assessment is done all the requisite documents are below it so that if later there
Browsing the intricacies of international work laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our organization current with changes in policies across jurisdictions. This ensures that our payroll procedures abide by the current requirements, decreasing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting companies and legal firms who assist us keep our databases entirely up to date and we also contact we need to when we see an uncommon or or particularly intricate scenarios okay thanks Steve I can simply see a fast concern in the Q a window yes the session will be taped and sent to participants later on um returning to to the webinar itself Ray company of record is managed in a different way all over the world and the German law for example it’s classified as employee leasing can you shed any light on some of the unique factors to consider for countries and where the eor model isn’t controlled yes Ian employee leasing or labor leasing as it’s likewise called which prevails in a number of nations especially in Europe imposes strict guidelines on products such as the length of assignment it also assigns employees to collective bargaining contracts that provides rights and benefits but even in the countries that don’t have those rigorous guidelines for example the UK Canada and the nordics there are guidelines for each country and each worker is treated the like all the other employees because country and all those regulations require to be complied with fine thank you Ray um Kathy moving I would say to yourself what do business require to consider when determining contract status to safeguard themselves and the rights of hires what are the benefits and drawbacks of hiring professionals and Freelancers versus irreversible staff members so undoubtedly the the benefit of specialists versus staff members is the the flexibility for both the worker and for the company um however I can’t stress enough how essential it is to have a constant thorough and a well-documented compliance
Papaya Global Payroll Screenshots Employees and Time Cost Savings:
The software application’s automation capabilities have actually considerably decreased the time and effort needed for payroll processing. Handbook information entry and repeated jobs have been lessened, permitting our finance group to concentrate on tactical efforts instead of administrative concerns. This has resulted in increased effectiveness and efficiency within our financial operations.
in one given that each state has its own regulations Californians are some of the most strict an example is pay slips on a payslip in California the right info needs to be on the payslip in the right 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 employee each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to stress to think of and we’re only two concerns in and 10 minutes or two employing in one country is hard enough but when employing in a you know on an international level it’s a completely different story you need to make sure that you’re up to date with current along with pending local labor laws Steve um how do you make certain and make sure that the people 2.0 group is on top of an ever-changing landscape which your customers are fully supported and I’ll organize this into 3 crucial things we do in first and foremost you require to have the ideal team so we employ a group of international professionals in Work Practices um that ex that team of professionals consists of legal representatives it consists of payroll experts it includes HR experts and these are people that not just know the laws in these in these countries and areas however they likewise know the languages they understand the regional practices they know the cultures and it is necessary to have that best group and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies detailed real-time analytics and reporting tools. As a CFO, having access to accurate and timely financial data is crucial for decision-making. The platform’s reporting capabilities empower me to make informed tactical decisions based upon real-time insights into our worldwide payroll information.
application and its scope and the manner in which it applies to employment law in practice can be checked through the judicial system by way of case law examples of that would be the acquired rights instruction otherwise referred to as the 2p policies in the UK the working time guidelines which has had numerous strands of that legislation checked especially around vacation pay and obviously as Kathy’s going to come on to talk about later on work status which there’s been multiple precedence set over the years so I believe it’s truly that continuous development of the employment law landscape that you really require to browse when when working in Europe fine thank you Elizabeth Ray what about you from your personal experience while moving across the pond as mentioned each country has different regulations but the United States is basically 50 nations
Scalability for Business Growth:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into brand-new markets, the software seamlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the developing needs of our global organization.
International Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Look who is our senior vice president of client services and I would say individually and jointly these 3 people have Decades of experience in in employment law and international Employment Practices so thank you it’s a pleasure to be with everybody here today seems like we have actually got the right people with us today and in in addition to to those well we likewise have among our own Stars erase share head of Global Solutions at papaya Global inform us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the business 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 areas on an individual aspect and related to our subject today I have actually had the opportunity to transfer and operate in three different nations it is the company’s responsibility to ensure my protection while residing in a foreign country compliance with regional laws and regulations is crucial for me or anyone else as an expat or as a regional so today we have invited our relied on Partners individuals 2.0 to demonstrate the significance of local
knowledge when companies Go Global thank you and take pleasure in all right thank you as I said let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the questions you’ve been thinking of we’ll discuss the facts a business needs to consider when opening a brand-new entity and broadening into brand-new countries in addition to keeping things going we’ll cover elements such as regional policies factors to consider when employing compliance essential difficulties payments and what not to do it is among the most crucial things remembering what not to do um operating on a global level is not for the faint-hearted the larger a business grows the more they require to comprehend and manage understanding what to do in each brand-new circumstance as it rises is necessary on numerous levels understanding regional policies and local laws in addition to organization practices helps mitigate Associated and global expansion papaya through our local professionals can browse prospective threats such as intellectual property defense information personal privacy security problems making sure the company’s operations stay compliant and safe tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has proven to be an indispensable possession in our mission for effective and certified global payroll management. As the CFO of a global company, I am positive in suggesting Papaya Global to companies looking for to improve their payroll procedures, boost compliance, and attain higher efficiency in managing their international labor force. The software application’s innovative features and commitment to excellence line up with our strategic goals, making it an integral part of our monetary operations.
publicly announced 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 substantial legal costs there exists’s other charges there’s other expenses behind that as well so the overall expense can be extremely considerable in the tens of millions of dollars or more and and those quantities are growing uh the reason business are getting it so incorrect is really simply the rules are complicated and they’re changing all the time believe ir-35 in the UK which has actually been an ongoing development for several years now and and still a great deal of uncertainty among business on what it really means and how you handle it most employers are just not aware of the rules and and act as if the the rules are the same everywhere which they’re not so so motivate you to to be very proactive as you’re engaging uh workers from a category perspective alright thank you Stephen and moving back to yourself Ray it’s not just the company that suffers in the long run what results can this have on the staff member Papaya Global Payroll Screenshots Employees particularly when it concerns their own tax liabilities social security and advantages for example jury and undoubtedly the workers the other side of the coin
I find time and time again the employees frequently misclassified unwittingly they don’t understand the conditions of employment or agreement and are informed by the customer why it’s most advantageous generally to the customer why you must be employed or participated in this fashion the employee might owe taxes and Social Security to the authorities the future pension and health care opportunities of the employee can be affected and several times it can be years before this all falls out and by that time it’s too late years have actually gone by they have not contributed to pensions Etc so it’s a big impact that they never knew they were walking into you couldn’t agree with you more if you state the UK for example hmrc can return as much as ten years um Kathy companies are getting insurance versus misclassification however usually premiums are only covering the expense of legal costs whilst the typical claim examined versus employers corresponds to to 40 or half of the base pay of employee exists any point in getting insurance coverage and what is the alternative yeah to your point um you do require to read the small print it is not covering the taxes charge and interest most of the times I haven’t 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 coverage on the basis of the reality that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Payroll Screenshots Employees …
The thorough features of come at an expense,
Over the past few years, the labor force has actually gone through a considerable change with the introduction of remote work, which has gotten rid of geographical restraints on hiring. This has allowed companies to hire talent from all over the world, enabling them to assemble the very best possible team for each function. As a result, workers have gained higher flexibility to work from home and increase their incomes without having to move to pricey locations or commute fars away. According to a 2022 survey, 87% of employees who have the option to work remotely choose to do so. The COVID-19 pandemic, combined with improvements in enterprise connection software, has further accelerated the shift towards remote work, even in industries that were initially hesitant to adopt the pattern.
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 operated in payroll for the last 25 years I have actually had roles in all sort of Industries retail and Charm to Aerospace in all types of businesses startup to matrixed environments across the globe I offered leadership and strategy 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
Worldwide I work throughout the business guy maning and constructing external relationships supporting Enterprise clients and solutions and acting as a consultant I ‘d like to introduce our very first Greg um guest Greg who will kick things off by telling 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 in-house legal team and really work extremely closely with our um HR department too to handle numerous legal and HR matters that show up so really excited to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we say our mission is to set you as HR specialists free to do great
Although Papaya Global supplies integrations with various HR and financing systems, we experienced some difficulties during the combination process. Customizing the software application to align with our existing infrastructure proved to be more intricate than expected, leading to delays in the initial rollout.
The substantial functions used by Papaya Global come at a cost, which a few of our smaller sized subsidiaries discovered to be prohibitively pricey. As a global company, we had to thoroughly weigh the need for advanced performance against budget plan restrictions.
Support Reaction Time:
On occasion, our groups experienced concerns that required immediate assistance. However, the reaction time from Papaya Global’s consumer assistance group was not constantly as timely as we would have liked, leading to delays in solving those problems.
Our execution of included a phased method. We started by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing processes. This permitted us to determine and attend to combination obstacles early on. As the software application ended up being more ingrained in our operations, we slowly broadened its use to cover our entire global workforce.
The automated features structured our payroll processes, lowering the time spent on manual computations and compliance tracking. Routine training sessions and continuous assistance from Papaya helped our groups become competent users of the software application, optimizing its potential for our organization.
However, paying a workforce can be complex. It is particularly challenging for companies who employ staff across numerous countries, as they need to constantly consolidate different information streams, manually track regional and national labor and guidelines, and invest important time and resources to set up regional entities in new areas. These business are faced with suboptimal, expensive options, like opening a foreign subsidiary or employing a professional employment organization, which is a local company that works with workers on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty hiring certified personnel, 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 forms of employment. It offers an end-to-end platform, from staff member onboarding and ongoing management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they operate, provides management of employment benefits, 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 innovation space in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to attend the total 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 internet browser with the webcast survey please make certain to finish it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation 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 regulation achieving
360 degree staff member compliance where we’ll dive into the necessary aspects of the worker compliance management model throughout the session we’ll check out real world challenges genuine local guidelines best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to protect your organization and employees while staying compliant in an
Ever progressing regulatory environment in the everchanging world of service and financing making sure compliance with payroll guidelines is not only essential however likewise a legal vital from the minute of employing to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance threats that have significant repercussions however with a much deeper more nuanced understanding of their commitments organizations can not just navigate the detailed landscape however likewise proactively ensure this 360 degree compliance the webinar is created to equip you with the understanding and tools essential to navigate the complex Terrain of compliance whether you’re a seasoned P expert a small business owner or somebody new to the field what I wish to do before we begin and I think it’s truly crucial
In our mission to improve performance and accuracy in handling our international workforce, our international corporation turned to, a leading and labor force management software. The transition intended to streamline the complex task of managing across different nations, currencies, and compliance guidelines.
Among the standout features of is its robust compliance management system. The software immediately updates itself to follow ever-evolving tax and labor laws across several jurisdictions. This has actually been vital in ensuring that our processes remain compliant in each nation of operation.
is to state that the content here is illegal guidance it is simply for your details please consult your legal team must you have any concerns or concerns in relation to anything that we’ve discussed today our key take essential takeaways by the end of the webinar will be an understanding of worker compliance dangers how to hire 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 type of your core staff member record um to manage that staff member life cycle throughout their Journey with you as as a staff member in addition to a payroll module we have to assist you pay those employees and compensate them and advantages Administration module that permits you to assist manage the benefits you supply to your staff members so really thrilled to be here represent um bamb booy jar and speak about this subject um and I guess from my perspective I’ll I’ll probably supply a lot of a focus on the United States side of things when we speak about sort of compliance so delighted to be here thanks for having me Ian all right 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 hello everybody I’m Gina dorelis I’m the Employment expert supervisor.
at I handle the work Council in the US APAC EMA and Israel area I also function as us Council for I’m licensed in New york city and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service work force supplier to employees serving in over.
160 nations alright thank you so both I feel completely underqualified sitting here with you both well I forgot to point out as we were kind of like going through the intro so it’s actually really great to in fact see in the webinar chat where everyone’s really going to from today I can see that we have people in Las Vegas and Indiana currently so if you wish to continue inform where you are that would be absolutely great whilst we simply wait for everyone else to sort of like take part there we go Chicago also well um so whil we’re doing that I’m awaiting everyone to kind of join I’ll just run us through the agenda um today we are going to discuss working with Skill new greater Information Management termination compliance and automation wow the chat has actually got actually actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is fantastic so uh I’m hoping that we’re actually going to have some really great commentary and questions throughout the uh the webinar too okay so that’s the program then what I ‘d like 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 Payroll Screenshots Employees diverse without fail and an.
Ever evolving relationship that starts the moment an individual signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to a number of key phases whilst we’re really you understand that they’re utilized with us so on boarding everyday operations payment and advantages expert development then we get to the offboarding and even advocacy so it even takes place after the staff member has left your work throughout the journey organizations are accountable for gathering saving protecting worker data in compliance with information personal privacy policies no matter where it is you’re operating around the globe it frequently includes executing protected data management systems and guaranteeing rigorous adherence to regional requirements to protect both the employee and the company the advancement of worker data and management c.