A CFO’s Viewpoint on Papaya Global This Database Cannot Be Opened…
The platform allows companies to manage their international labor force and adhere to local work policies and tax laws. Papaya Global offers a series of services, including payroll management, advantages administration, compliance management, time and presence tracking, and HR management. The platform is designed to simplify the complexities of worldwide payroll and provide real-time visibility and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the dynamic landscape of global service operations, handling payroll throughout borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of an international company, I comprehend the vital importance of efficient and compliant payroll management. In our pursuit of quality, we have actually welcomed innovative services to simplify our processes, and one such transformative tool is Software.
The Obstacle of International Payroll:
Global growth causes diverse obstacles, and payroll management is no exception. Differing tax policies, varying employment laws, and numerous currencies make it essential for companies to embrace sophisticated solutions to ensure accuracy, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Option:
It is essential to consider and consist of post-termination limitations in the employment contract to make sure enforceability. You should thoroughly identify what you are looking for to secure and clearly define the secret information that falls within its scope. In addition, specify the period of the post-termination restriction and be prepared to validate it in relation to copyright. The rules concerning intellectual property vary depending on the kind of IP and the jurisdiction. For instance, in the Netherlands, completion client is most likely to have copyright rights over works produced by workers under their supervision, while in Poland, legal project might be needed.
Papaya Global Software application has emerged as a game-changer in the world of global payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, user-friendly interface. As the CFO, I have actually experienced firsthand the positive effect of on our organization’s financial operations.
Unified International Payroll Processing:
allows our company to procedure payroll flawlessly across numerous countries. The platform’s unified approach enables consistent payroll computations, lowering mistakes and guaranteeing compliance with local guidelines. This has substantially alleviated the dangers connected with international payroll processing.
also crucial for if in the future someone states misclassification you have your file supported by the requisite files and that the best evaluation tools to show someone that you had a thoughtful process and so 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 handling a personal Service Corporation and how are they operating what are they doing is it the kind of work that provides itself more to being an independent contractor than an employee so for instance accounting
I.T engineering the creatives these all provide 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 handled again another key aspect is the management and supervision of the uh worker and then lastly when is it a particular task is it a six-month task six years all of this is manageable however it has to be recorded and it has to be completely um examined 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 worldwide these tools take a questionnaire list for the employee the worker completes and fills these concerns out therefore does completion customer or the recipient of the services they both put their details into the tool and after that it does an examination waiting the various concerns since not every jurisdiction has the same sensation about a few of these questions some think they’re more important than others and it comes out with a red yellow or green red you’re most likely a worker yellow you’re on the cusp we can probably assist you with that in terms of some of the important things you need to bolster to ensure that you are considered that examination of uh independent contractor or green where you were assessed as an as a independent specialist once that evaluation is done all the requisite files are beneath it so that if later on there
Browsing the complexities of global work laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our company current with modifications in policies across jurisdictions. This ensures that our payroll procedures adhere to the most recent standards, lessening 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 completely as much as date and we likewise call on we need to when we see an uncommon or or especially complicated scenarios alright thanks Steve I can just see a fast question in the Q a window yes the session will be recorded and sent to participants afterwards um returning to to the webinar itself Ray company of record is regulated in a different way around the globe and the German law for example it’s classified as staff member leasing can you shed any light on a few of the special factors to consider for countries and where the eor design isn’t controlled yes Ian staff member leasing or labor leasing as it’s likewise called which prevails in several countries particularly in Europe enforces stringent regulations on items such as the length of project it also assigns workers to collective bargaining contracts that provides rights and advantages however even in the nations that do not have those stringent 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 workers because nation and all those guidelines require to be followed fine thank you Ray um Kathy moving I would say to yourself what do companies require to factor in when identifying contract status to safeguard themselves and the rights of hires what are the benefits and drawbacks of hiring specialists and Freelancers versus long-term staff members so clearly the the advantage of contractors versus staff members is the the versatility for both the worker and for the company um but I can’t stress enough how important it is to have a constant comprehensive and a well-documented compliance
Papaya Global This Database Cannot Be Opened and Time Cost Savings:
The software’s automation abilities have actually significantly minimized the time and effort required for payroll processing. Manual data entry and repetitive tasks have actually been minimized, allowing our financing team to concentrate on tactical efforts rather than administrative concerns. This has actually led to increased effectiveness and productivity within our financial operations.
in one given that each state has its own guidelines Californians are a few of the most stringent an example is pay slips on a payslip in California the ideal details has to be on the payslip in the ideal format and in the best position if you remain in breach of of regulations for payslips the fines are released per payslip so that’s each employee each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to worry to think about and we’re just 2 questions in and 10 minutes or so working with in one nation is challenging enough however when hiring in a you understand on a global level it’s a totally various story you need to make certain that you depend on date with existing along with pending local labor laws Steve um how do you ensure and guarantee that the people 2.0 group is on top of an ever-changing landscape which your clients are fully supported and I’ll arrange this into 3 crucial things we carry out in firstly you need to have the right team so we work with a team of global experts in Work Practices um that ex that group of professionals includes lawyers it consists of payroll professionals it includes HR professionals and these are people that not only know the laws in these in these countries and areas however they likewise know the languages they understand the regional practices they understand the cultures and it is essential to have that best team and genuinely have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies comprehensive real-time analytics and reporting tools. As a CFO, having access to accurate and prompt financial data is vital for decision-making. The platform’s reporting capabilities empower me to make informed tactical choices based upon real-time insights into our global payroll data.
application and its scope and the way that it applies to work law in practice can be evaluated through the judicial system by way of case law examples of that would be the gotten rights directive otherwise called the 2p guidelines in the UK the working time policies which has had different hairs of that legislation checked particularly around holiday pay and obviously as Kathy’s going to come on to talk about later employment status which there’s been numerous precedence set over the years so I think it’s truly that constant development of the work law landscape that you really need to navigate when when operating in Europe all right thank you Elizabeth Ray what about you from your individual experience while crossing the pond as pointed out each country has various guidelines however the United States is basically 50 nations
Scalability for Business Growth:
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 effortlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll facilities can adjust to the developing needs of our international company.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Gander who is our senior vice president of client services and I would say individually and jointly these 3 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 sounds like we have actually got the right people with us today and in in addition to to those well we also have one of our own Stars delete share head of Global Services at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business for around 4 and a half years as head of Partnerships I have developed Papaya’s network of in-country Partners in over 160 areas on a personal aspect and related to our subject today I have actually had the opportunity to transfer and operate in 3 different countries it is the company’s obligation to ensure my defense while living in a foreign nation compliance with regional laws and guidelines is essential for me or anybody else as an expat or as a regional so today we have welcomed our relied on Partners people 2.0 to show the value of regional
expertise when companies Go Global thank you and enjoy fine thank you as I stated let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking of we’ll discuss the truths a business needs to consider when opening a brand-new entity and broadening into brand-new nations along with keeping things going we’ll cover aspects such as regional policies factors to consider when employing compliance essential obstacles payments and what not to do it’s one of the most important things remembering what not to do um operating on a global level is not for the faint-hearted the larger a company grows the more they require to understand and manage knowing what to do in each new situation as it increases is very important on lots of levels understanding local regulations and regional laws as well as company practices assists mitigate Associated and global growth papaya through our local experts can navigate potential dangers such as copyright security data privacy security concerns making sure the business’s operations remain compliant and safe and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has proven to be an invaluable property in our mission for efficient and certified worldwide payroll management. As the CFO of an international company, I am positive in suggesting Papaya Global to organizations looking for to simplify their payroll processes, boost compliance, and achieve greater effectiveness in handling their worldwide labor force. The software application’s innovative features and dedication to excellence align with our strategic goals, making it an important part of our monetary operations.
I discover time and time again the employees often misclassified unconsciously they do not understand the conditions of employment or contract and are informed by the client why it’s most advantageous generally to the client why you should be utilized or engaged in this fashion the worker might owe taxes and Social Security to the authorities the future pension and healthcare 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 too late years have actually passed they haven’t added to pensions Etc so it’s a big impact that they never knew they were strolling into you couldn’t agree with you more if you state the UK for instance hmrc can go back as much as 10 years um Kathy companies are securing insurance versus misclassification but generally premiums are only covering the expense of legal charges whilst the average claim assessed against companies equates to to 40 or half of the base salary of employee exists any point in taking out insurance and what is the alternative yeah to your point um you do require to check out the small print it is not covering the taxes charge and interest most of the times I have not seen it a minimum of so uh the the other location that I do think if you managed to get the protection what we are stating 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 This Database Cannot Be Opened …
The extensive functions of come at an expense,
Over the past few decades, the labor force has actually undergone a substantial change with the emergence of remote work, which has actually eliminated geographical restrictions on hiring. This has actually allowed businesses to hire talent from all over the world, enabling them to put together the best possible group for each function. As a result, staff members have gained higher flexibility to work from home and increase their incomes without having to transfer to costly locations or commute long distances. According to a 2022 survey, 87% of workers who have the choice to work remotely choose to do so. The COVID-19 pandemic, integrated with improvements in enterprise connection software application, has further accelerated the shift towards remote work, even in industries that were at first reluctant to adopt the pattern.
insights are valuable 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 have actually operated in payroll for the last 25 years I have actually had roles in all type of Industries retail and Charm to Aerospace in all kinds of businesses startup to matrixed environments around the world I supplied leadership and technique to populations of more than 100,000 workers on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
International I work across business male maning and developing external relationships supporting Business customers and options and functioning as an advisor I wish to introduce our first Greg um visitor 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 said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal group and really work extremely closely with our um HR department as well to handle different legal and HR matters that come 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 objective is to set you as HR experts complimentary to do great
Although Papaya Global offers combinations with numerous HR and finance systems, we experienced some hurdles throughout the integration process. Tailoring the software to align with our existing infrastructure showed to be more complex than prepared for, resulting in hold-ups in the initial rollout.
The comprehensive features used by Papaya Global come at a cost, which a few of our smaller subsidiaries discovered to be excessively costly. As an international organization, we needed to thoroughly weigh the need for advanced functionality versus budget plan restrictions.
Assistance Reaction Time:
On occasion, our teams experienced concerns that required immediate help. Nevertheless, the reaction time from Papaya Global’s client support team was not constantly as prompt as we would have liked, causing delays in dealing with those problems.
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 identify and attend to combination challenges early on. As the software became more ingrained in our operations, we slowly broadened its use to cover our entire international labor force.
The automated features streamlined our payroll processes, minimizing the time spent on manual calculations and compliance tracking. Regular training sessions and continuous assistance from Papaya assisted our teams become proficient users of the software, maximizing its potential for our organization.
Business that staff member workers throughout several nations often face elaborate obstacles when it comes to managing their labor force. Among the biggest obstacles is consolidating numerous information streams and sticking to varied local and nationwide labor guidelines, which can be both time-consuming and pricey. Additionally, establishing local entities in brand-new areas can be a costly and suboptimal alternative, with options such as opening a foreign subsidiary or employing a professional work company (PEO) often charging up to 15% of the payroll. These challenges have actually led to a significant boost in trouble hiring qualified 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 expected to reach $50.4 billion by 2030.
offers a service supporting all kinds of work. It provides an end-to-end platform, from worker onboarding and ongoing management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they run, uses management of employment advantages, and makes sure information privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading professional in payroll and workforce management. She co-founded after seeing the technology gap in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to go to 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 brand-new tab will open in your browser with the webcast survey please be sure to complete 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 hello and thank you for joining us today we’re enjoyed have you here as we start a journey of information to guideline achieving
360 degree employee compliance where we’ll dive into the important aspects of the staff member compliance management model throughout the session we’ll check out 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 protect your organization and workers while staying certified in an
Ever developing regulative environment in the everchanging world of company and finance ensuring compliance with payroll policies is not just essential however likewise a legal necessary from the moment of employing to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance threats that have significant consequences nevertheless with a deeper more nuanced understanding of their responsibilities companies can not just browse the complex landscape but likewise proactively guarantee this 360 degree compliance the webinar is designed to equip you with the understanding and tools essential to browse the complex Terrain of compliance whether you’re a seasoned P expert a small company owner or somebody brand-new to the field what I want to do before we start and I think it’s really important
In our quest to boost efficiency and precision in handling our worldwide labor force, our international corporation turned to, a leading and workforce management software application. The transition intended to streamline the complex job of handling across numerous countries, currencies, and compliance policies.
Among the standout functions of is its robust compliance management system. The software automatically updates itself to adhere to ever-evolving tax and labor laws across multiple jurisdictions. This has been important in ensuring that our procedures stay compliant in each nation of operation.
is to state that the content here is illegal suggestions it is simply for your information please consult your legal group needs to you have any concerns or concerns in relation to anything that we have actually discussed today our secret take key takeaways by the end of the webinar will be an understanding of employee compliance risks how to hire ly with confidence how to streamline data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
serve as your hris or is type of your core employee record um to manage that worker life process 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 advantages Administration module that permits you to help handle the benefits you offer to your employees so truly excited to be here represent um bamb booy jar and discuss this subject um and I guess from my viewpoint I’ll I’ll most likely provide a lot of a focus on the United States side of things when we talk about sort of compliance so delighted to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay global yes definitely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment professional supervisor.
at I manage the work Council in the US APAC EMA and Israel area I also work 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 company to employees serving in over.
160 countries fine thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were kind of like going through the introduction so it’s really actually great to in fact see in the webinar chat where everyone’s actually going to from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to continue tell where you are that would be absolutely fantastic whilst we simply wait for 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 everybody to sort of join I’ll just run us through the agenda um today we are going to go over hiring Skill new higher Info Management termination compliance and automation wow the chat has actually got actually truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is wonderful so uh I’m hoping that we’re in fact going to have some truly fantastic commentary and questions throughout the uh the webinar also okay 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 This Database Cannot Be Opened multifaceted without fail and an.
Ever progressing relationship that begins the moment an individual signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to several key stages whilst we’re in fact you understand that they’re utilized with us so on boarding everyday operations settlement and benefits professional development then we get to the offboarding and even advocacy so it even takes place after the worker has left your employment throughout the journey companies are responsible for collecting saving securing staff member information in compliance with data personal privacy regulations no matter where it is you’re running around the world it typically involves implementing safe data management systems and making sure strict adherence to regional requirements to protect both the staff member and the organization the development of worker data and management c.