A CFO’s Viewpoint on Papaya Global Training In North East England…
The platform enables companies to manage their international labor force and adhere to local work regulations and tax laws. Papaya Global provides a range of services, consisting of payroll management, benefits administration, compliance management, time and participation tracking, and HR management. The platform is designed to streamline the complexities of worldwide payroll and provide real-time exposure and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New York, London, and Kiev.
In the dynamic landscape of international business operations, handling payroll throughout borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a global business, I comprehend the crucial importance of effective and certified payroll management. In our pursuit of excellence, we have embraced innovative solutions to simplify our processes, and one such transformative tool is Software application.
The Difficulty of Worldwide Payroll:
Worldwide expansion causes varied obstacles, and payroll management is no exception. Differing tax guidelines, varying employment laws, and numerous currencies make it imperative for companies to adopt sophisticated options to make sure accuracy, compliance, and performance in payroll processing.
Software application: A Comprehensive Solution:
employees so it’s actually fundamental to make sure that you have actually considered from the start any post-termination limitations that you wish to take into the contract of employment that they’re enforceable so that implies you need to actually consider what it is you’re aiming to secure and why plainly Specify what’s included within the scope of that confidential information and attend to the duration of constraint post-determination that you want to use and be actually able to to validate that in relation to intellectual property the position truly depends on the kind of intellectual property you’re seeking to secure and likewise the jurisdiction so for instance from a copyright viewpoint in the Netherlands completion customer is most likely to have the um copyright rights in a copyright that the employees produced who’s been under their guidance and control automatically however in somewhere like Poland for instance that automatic right might not exist and that assignment would require to flow through the chain uh contractually so it truly depends on the jurisdiction and the type of IP fine thank you Elizabeth Steve was staying on the topic of agreements Miss categorized misclassifying workers
Papaya Global Software application has become a game-changer in the realm 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 actually seen firsthand the favorable impact of on our company’s financial operations.
Unified Global Payroll Processing:
enables our company to procedure payroll flawlessly across several countries. The platform’s unified approach enables constant payroll estimations, minimizing mistakes and guaranteeing compliance with regional regulations. This has actually substantially alleviated the threats related to international payroll processing.
likewise crucial for if later on somebody says misclassification you have your file supported by the requisite files which the ideal examination tools to reveal somebody that you had a thoughtful procedure and so what do you need to consist of in that 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 an individual Service Corporation and how are they operating what are they doing is it the type of work that provides itself more to being an independent specialist than a worker so for example accounting
I.T engineering the creatives these all lend themselves more to that assessment of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they need to be on website and handled again another crucial factor is the management and supervision of the uh employee and then finally when is it a particular job is it a six-month job six years all of this is manageable however it needs to be documented and it has to be thoroughly um investigated so we have a tool we call it ic2 we had an ic1 and we’ve improved it this year so that we can roll it out globally these tools take a questionnaire list for the employee the worker submits and fills these questions out therefore does completion customer or the recipient of the services they both put their information into the tool and then it does an examination waiting the different concerns since not every jurisdiction has the same sensation about some of these questions some believe they’re more crucial than others and it comes out with a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can most likely assist you with that in regards to a few of the things you need to strengthen to make sure that you are considered that assessment of uh independent professional or green where you were assessed as an as a independent specialist once that assessment is done all the requisite documents are underneath it so that if later on there
Browsing the intricacies of worldwide work laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in regulations throughout jurisdictions. This makes sure that our payroll procedures abide by the latest requirements, lessening the risk of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal companies who assist us keep our databases totally as much as date and we likewise call on we require to when we see an unusual or or particularly intricate situations okay thanks Steve I can just see a fast concern in the Q a window yes the session will be recorded and sent to participants afterwards um moving back to to the webinar itself Ray employer of record is regulated differently all over the world and the German law for instance 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 managed yes Ian employee leasing or labor leasing as it’s also called which prevails in numerous countries particularly in Europe imposes stringent regulations on products such as the length of task it likewise designates employees to collective bargaining agreements that provides rights and advantages but even in the nations that do not have those strict policies for instance the UK Canada and the nordics there are policies for each nation and each employee is treated the like all the other employees in that nation and all those policies need to be followed alright thank you Ray um Kathy moving I would say to yourself what do business need to consider when determining agreement status to protect themselves and the rights of hires what are the benefits and drawbacks of working with professionals and Freelancers versus long-term employees so certainly the the benefit of specialists versus staff members is the the flexibility for both the worker and for the employer um but I can’t stress enough how important it is to have a constant extensive and a well-documented compliance
Papaya Global Training In North East England and Time Cost Savings:
The software’s automation capabilities have considerably reduced the time and effort required for payroll processing. Manual data entry and repetitive jobs have been lessened, allowing our financing team to focus on strategic efforts instead of administrative concerns. This has actually led to increased effectiveness and performance within our financial operations.
in one considering that each state has its own policies Californians are a few of the most strict an example is pay slips on a payslip in California the ideal information has to be on the payslip in the right format and in the best position if you’re in breach of of guidelines for payslips the fines are released per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think about and we’re only two questions in and 10 minutes or two working with in one nation is tough enough but when working with in a you know on a worldwide level it’s a totally different story you require to ensure that you depend on date with current along with pending regional 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 and that your clients are completely supported and I’ll organize this into 3 essential things we carry out in primarily you require to have the right team so we employ a group of international experts in Work Practices um that ex that group of professionals consists of lawyers it includes payroll experts it consists of HR experts and these are people that not just know the laws in these in these countries and regions however they also know the languages they know the local practices they know the cultures and it’s important to have that ideal group and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to accurate and prompt financial data is essential for decision-making. The platform’s reporting abilities empower me to make informed strategic choices based upon real-time insights into our global payroll information.
application and its scope and the way that it applies to employment law in practice can be tested through the judicial system by way of case law examples of that would be the obtained rights directive otherwise called the 2p regulations in the UK the working time policies which has actually had various strands of that legislation evaluated especially around vacation pay and obviously as Kathy’s going to come on to discuss later on work status which there’s been numerous precedence set over the years so I believe it’s truly that constant evolution of the employment law landscape that you really require to browse when when working in Europe okay thank you Elizabeth Ray what about you from your personal experience while moving across the pond as mentioned each nation has different guidelines but the United States is basically 50 nations
Scalability for Organization Growth:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software application perfectly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the progressing needs of our global organization.
International Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Look who is our senior vice president of client services and I would say separately and jointly these 3 individuals have Years of experience in in employment law and global Employment Practices so thank you it’s a satisfaction 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 likewise have among our own Stars erase share head of Global Provider at papaya Worldwide tell us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the business for around 4 and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 areas on an individual aspect and related to our subject today I’ve had the opportunity to move and work in three various nations it is the business’s obligation to guarantee my defense while living in a foreign nation compliance with regional laws and regulations is important for me or anybody else as an expat or as a regional so today we have actually welcomed our relied on Partners people 2.0 to demonstrate the significance of regional
knowledge when business Go International thank you and take pleasure in alright thank you as I stated let’s move on to the pact agenda today’s webinar is a chance to ask the panel the concerns you’ve been thinking about we’ll go over the truths a company requires to think about when opening a new entity and expanding into brand-new nations as well as keeping things going we’ll cover elements such as local guidelines considerations when employing compliance key difficulties payments and what not to do it’s one of the most important things remembering what not to do um operating on a worldwide level is not for the faint-hearted the larger a business grows the more they need to comprehend and manage understanding what to do in each brand-new scenario as it increases is essential on lots of levels comprehending regional guidelines and local laws along with organization practices assists mitigate Associated and international growth papaya through our regional specialists can browse possible dangers such as intellectual property protection information personal privacy security issues making sure the company’s operations remain certified and safe and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has proven to be an indispensable asset in our mission for efficient and compliant global payroll management. As the CFO of a global business, I am confident in recommending Papaya Global to organizations looking for to improve their payroll procedures, improve compliance, and accomplish higher effectiveness in managing their global labor force. The software’s ingenious features and dedication to excellence align with our tactical goals, making it an important part of our monetary operations.
I find time and time again the workers typically misclassified unknowingly they don’t comprehend the conditions of work or contract and are informed by the customer why it’s most advantageous mainly to the customer why you ought to be used or taken part in this fashion the employee may owe taxes and Social Security to the authorities the future pension and healthcare benefits of the employee can be impacted and numerous times it can be years before this all falls out and by that time it’s too late years have gone by they haven’t contributed to pensions And so on so it’s a big impact that they never understood 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 business are taking out insurance against misclassification however generally premiums are only covering the expense of legal charges whilst the typical claim assessed against employers relates to to 40 or half of the base pay of worker exists any point in securing insurance coverage and what is the alternative yeah to your point um you do need to check out the fine print it is not covering the taxes charge and interest in many cases 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 saying is is that if your compliance program is not up to stuff you could be denied protection on the basis of the fact that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Training In North East England …
The extensive features of come at an expense,
Current decades have seen a remarkable modification to the labor force as the rise of remote work has actually broken down geographical barriers to working with. Organizations can now work with personnel from anywhere worldwide, allowing them to access the very best offered talent for any given function. This offers workers more flexibility to work from home and increase their earnings without transferring to pricey areas or commuting long distances. A 2022 study found that 87% of workers who have the opportunity to work from another location take that chance. The break out of COVID-19, in conjunction with new business connection software, sped up the move to remote work, including in industries formerly hesitant to accept the pattern.
insights are important to us and and your fellow participants so first things initially though um let’s get to know everybody my name is Ian Charles and I’ve worked in payroll for the last 25 years I’ve had functions in all type of Industries retail and Charm to Aerospace in all kinds of services start-up to matrixed environments across the globe I provided leadership and strategy to populations of more than 100,000 workers on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout business guy maning and constructing external relationships supporting Business customers and services and functioning as a consultant 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 corporate counsil at bambo HR so I lead our in-house legal group and in fact work very carefully with our um HR department also to handle various legal and HR matters that turn up so truly delighted to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our mission is to set you as HR experts complimentary to do great
Although Papaya Global provides integrations with numerous HR and financing systems, we experienced some obstacles during the combination process. Personalizing the software to align with our existing facilities proved to be more complex than prepared for, resulting in hold-ups in the preliminary rollout.
The extensive functions used by Papaya Global come at a cost, which a few of our smaller sized subsidiaries discovered to be prohibitively pricey. As an international organization, we needed to thoroughly weigh the need for advanced functionality against budget plan restraints.
Assistance Action Time:
On occasion, our teams experienced problems that required urgent help. Nevertheless, the reaction time from Papaya Global’s customer support team was not constantly as timely as we would have liked, leading to delays in solving those concerns.
Our application of involved a phased method. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This enabled us to recognize and deal with integration challenges early on. As the software became more instilled in our operations, we slowly expanded its use to cover our whole worldwide workforce.
The automated functions streamlined our payroll processes, minimizing the time spent on manual computations and compliance tracking. Regular training sessions and ongoing support from Papaya assisted our teams become competent users of the software, optimizing its capacity for our organization.
However, paying a workforce can be complicated. It is particularly challenging for business who employ personnel across several countries, as they must constantly consolidate different information streams, manually track regional and nationwide labor and policies, and invest valuable time and resources to establish regional entities in new locations. These companies are faced with suboptimal, pricey alternatives, like opening a foreign subsidiary or working with an expert employment organization, which is a local firm that employs workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty recruiting certified personnel, a boost of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers a service supporting all kinds of employment. It offers an end-to-end platform, from staff member onboarding and ongoing management to worldwide payments and. It assists business with labor law compliance in the jurisdictions in which they run, provides management of employment advantages, 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 professional in payroll and labor force management. She co-founded after seeing the innovation gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to go to the total webcast in order to receive your credits if you have any questions during the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your browser with the webcast survey please be sure to complete it as quickly as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hi and thank you for joining us today we’re enjoyed have you here as we start a journey of data to regulation attaining
360 degree employee compliance where we’ll dive into the important aspects of the worker compliance management model throughout the session we’ll check out real world obstacles real local policies best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to protect your company and workers while staying certified in an
Ever evolving regulatory environment in the everchanging world of service and finance ensuring compliance with payroll policies is not only 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 dangers that have significant repercussions nevertheless with a much deeper more nuanced understanding of their obligations companies can not just browse the elaborate landscape however also proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools required to navigate the complex Surface of compliance whether you’re an experienced P specialist a small business owner or somebody new to the field what I would like to do before we begin and I think it’s truly crucial
In our mission to boost effectiveness and precision in handling our international labor force, our multinational corporation turned to, a leading and workforce management software. The transition intended to simplify the complex job of handling throughout various countries, currencies, and compliance regulations.
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 been invaluable in ensuring that our procedures stay certified in each nation of operation.
is to state that the material here is not legal advice it is merely for your information please consult your legal group needs to you have any concerns or issues in relation to anything that we have actually talked about today our secret take key takeaways by the end of the webinar will be an understanding of staff member compliance risks how to employ ly with confidence how to simplify data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
function as your hris or is sort of your core employee record um to handle that employee life process throughout their Journey with you as as a staff member 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 help handle the advantages you provide to your staff members so actually excited to be here represent um bamb booy jar and discuss this subject um and I guess from my perspective I’ll I’ll probably offer a lot of a concentrate on the US 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 present yourself and tell the audience a little bit about papay global yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Employment specialist manager.
at I handle the employment Council in the US APAC EMA and Israel area I also function as us Council for I’m certified in New York and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service work force provider to employees 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 sort of like going through the intro so it’s really really good to actually see in the webinar chat where everybody’s in fact attending 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 wonderful whilst we just await everybody else to kind of like take part there we go Chicago too well um so whil we’re doing that I’m waiting for everyone to type of join I’ll just run us through the agenda um today we are going to discuss working with Talent brand-new greater Info Management termination compliance and automation wow the chat has actually got actually actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is great so uh I’m hoping that we’re really going to have some truly great commentary and concerns throughout the uh the webinar too fine so that’s the program then what I want to Now cover is the the compliance and the Personal privacy side of things so the the Journey of an employee and their information is Papaya Global Training In North East England complex without fail and an.
Ever evolving relationship that starts the moment an individual signs up with an organization it continues throughout their work and Beyond this journey can be divided into k to numerous essential stages whilst we’re actually you know that they’re used with us so on boarding everyday operations settlement and benefits expert advancement then we get to the offboarding and even advocacy so it even occurs after the worker has left your work throughout the journey companies are responsible for collecting saving safeguarding staff member data in compliance with information privacy guidelines no matter where it is you’re running all over the world it often includes implementing secure information management systems and making sure rigorous adherence to regional requirements to secure both the worker and the organization the development of worker data and management c.