A CFO’s Viewpoint on Ask Papaya Global Year End 2019…
Papaya Global’s platform simplifies worldwide workforce management for business, ensuring compliance with regional policies and tax laws. Their services encompass payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes worldwide payroll operations, supplying 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 vibrant landscape of worldwide organization operations, managing payroll throughout borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of an international company, I understand the critical significance of effective and compliant payroll management. In our pursuit of excellence, we have actually embraced innovative solutions to simplify our procedures, and one such transformative tool is Software application.
The Challenge of Worldwide Payroll:
Global expansion causes diverse difficulties, and payroll management is no exception. Differing tax policies, differing employment laws, and several currencies make it vital for organizations to embrace advanced options to ensure accuracy, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Option:
staff members so it’s really fundamental to ensure that you’ve thought about from the beginning any post-termination constraints that you want to put into the agreement of work that they’re enforceable so that suggests you require to actually think about what it is you’re looking to secure and why plainly Specify what’s included within the scope of that secret information and attend to the duration of constraint post-determination that you wish to apply and be truly able to to validate that in relation to intellectual property the position really depends upon the kind of copyright you’re seeking to safeguard and also the jurisdiction so for example from a copyright point of view in the Netherlands the end client is more likely to have the um copyright rights in a copyright that the employees produced who’s been under their guidance and control automatically nevertheless in someplace like Poland for instance that automated right might not be there which task would need to stream through the chain uh contractually so it really depends on the jurisdiction and the type of IP all right thank you Elizabeth Steve was remaining on the topic of contracts Miss classified misclassifying staff members
Papaya Global Software application has actually become a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually experienced firsthand the favorable impact of on our company’s monetary operations.
Unified International Payroll Processing:
enables our company to process payroll flawlessly across numerous countries. The platform’s unified method allows for constant payroll calculations, reducing errors and guaranteeing compliance with local regulations. This has actually considerably reduced the threats associated with international payroll processing.
likewise crucial for if later on somebody says misclassification you have your file supported by the requisite documents which the ideal examination tools to reveal somebody that you had a thoughtful process and so what do you need to include because process it’s the who the what the where and the when who are you dealing with 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 lends itself more to being an independent specialist than a worker so for instance accounting
I.T engineering the creatives these all provide themselves more to that evaluation of being freelancer you know also uh where are they doing it can they work from anywhere or do they have to be on site and managed once again another crucial element is the management and supervision of the uh employee and after that lastly when is it a particular job is it a six-month project 6 years all of this is workable however it has to be recorded and it needs to be thoroughly um investigated so we have a tool we call it ic2 we had an ic1 and we have actually improved it this year so that we can roll it out worldwide these tools take a survey list for the employee the worker fills out and fills these questions out and so does the end client or the recipient of the services they both put their details into the tool and after that it does an evaluation waiting the different questions since not every jurisdiction has the very same feeling about some of these concerns some think they’re more crucial 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 terms of some of the things you need to boost to ensure that you are considered that examination of uh independent professional or green where you were assessed as an as a independent contractor once that assessment is done all the requisite files are beneath it so that if later there
Browsing the complexities of worldwide employment laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our company updated with changes in guidelines throughout jurisdictions. This ensures that our payroll procedures comply with the latest standards, minimizing the danger of non-compliance and associated charges.
network of In-House outside advisors accounting companies and legal firms who assist us keep our databases entirely approximately date and we also call on we require to when we see an uncommon or or especially complex situations okay thanks Steve I can just see a fast question in the Q a window yes the session will be recorded and sent to attendees later on um returning to to the webinar itself Ray company of record is controlled 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 managed yes Ian staff member leasing or labor leasing as it’s also called which is prevalent in numerous nations particularly in Europe enforces strict regulations on items such as the length of project it likewise appoints employees to collective bargaining contracts that gives them rights and benefits but even in the nations that do not have those stringent guidelines for instance the UK Canada and the nordics there are guidelines for each nation and each employee is treated the like all the other workers because nation and all those regulations require to be complied with fine thank you Ray um Kathy moving I would say to yourself what do companies need to factor in when identifying contract status to safeguard themselves and the rights of hires what are the benefits and drawbacks of hiring professionals and Freelancers versus permanent employees so clearly the the advantage of contractors versus staff members is the the versatility for both the employee and for the company um but I can’t stress enough how important it is to have a consistent comprehensive and a well-documented compliance
Ask Papaya Global Year End 2019 and Time Cost Savings:
The software’s automation capabilities have actually significantly lowered the time and effort required for payroll processing. Handbook data entry and repetitive tasks have actually been lessened, enabling our financing team to focus on tactical initiatives instead of administrative burdens. This has actually led to increased performance and performance within our monetary operations.
in one because each state has its own regulations Californians are a few of the most rigorous an example is pay slips on a payslip in California the best details has to be on the payslip in the right format and in the best position if you remain in breach of of policies for payslips the fines are issued per payslip so that’s each worker each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to fret to think about and we’re only 2 concerns in and 10 minutes or two working with in one nation is hard enough but when employing in a you know on a global level it’s a completely different story you require to make certain that you’re up to date with current in addition to pending regional labor laws Steve um how do you ensure and ensure that individuals 2.0 team is on top of an ever-changing landscape which your customers are fully supported and I’ll arrange this into 3 crucial things we do in most importantly you need to have the right team so we work with a group of global professionals in Employment Practices um that ex that team of experts includes attorneys it consists of payroll experts it consists of HR experts and these are individuals that not only know the laws in these in these countries and areas however they likewise know the languages they understand the local practices they understand the cultures and it is necessary to have that best group and genuinely have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides detailed real-time analytics and reporting tools. As a CFO, having access to precise and timely financial data is essential for decision-making. The platform’s reporting abilities empower me to make educated tactical choices based on real-time insights into our worldwide payroll data.
The useful application and level of the application to employment law can be examined through the legal system using case law examples. For instance, the gotten rights regulation, also referred to as the 2p guidelines in the UK, and the working time guidelines have been subject to different legal interpretations, particularly concerning holiday pay. Additionally, the principle of work status has seen numerous legal precedents over the
Scalability for Service Growth:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software application perfectly accommodates modifications in our workforce and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the developing requirements of our global organization.
Global Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Glimpse who is our senior vice president of customer service and I would say separately and jointly these 3 individuals have Decades of experience in in work law and global Employment Practices so thank you it’s a satisfaction to be with everyone here today seems like we’ve got the right people with us today and in in addition to to those well we likewise have among our own Stars delete share head of Global Services at papaya International tell us about yourself thank you Elin Ian hi my name is Elite I have actually been with the business for around four and a half years as head of Collaborations I have developed Papaya’s network of in-country Partners in over 160 places on a personal element and related to our subject today I have actually had the opportunity to move and work in three various nations it is the company’s duty to ensure my security while living in a foreign nation compliance with local laws and guidelines is crucial for me or anybody else as an expat or as a local so today we have actually invited our relied on Partners individuals 2.0 to demonstrate the importance of local
expertise when companies Go Worldwide thank you and take pleasure in alright thank you as I stated let’s carry on to the pact agenda today’s webinar is an opportunity to ask the panel the questions you’ve been thinking about we’ll discuss the truths a company requires to think about when opening a brand-new entity and expanding into brand-new nations along with keeping things going we’ll cover elements such as regional policies considerations when employing compliance crucial difficulties 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 need to understand and handle knowing what to do in each brand-new situation as it rises is very important on lots of levels understanding regional regulations and regional laws along with company practices assists alleviate Associated and global expansion papaya through our local specialists can browse prospective risks such as intellectual property defense data personal privacy security issues guaranteeing the company’s operations remain certified and safe and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software has shown to be an important asset in our mission for efficient and compliant worldwide payroll management. As the CFO of an international business, I am positive in recommending Papaya Global to organizations looking for to streamline their payroll procedures, improve compliance, and achieve higher performance in handling their worldwide labor force. The software application’s innovative features and dedication to quality align with our strategic goals, making it an essential part of our financial operations.
openly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly announced settlements there’s also considerable legal expenses there exists’s other penalties there’s other costs behind that also so the overall cost can be really substantial in the 10s of millions of dollars or more and and those amounts are growing uh the reason why companies are getting it so incorrect is really just the rules are intricate and they’re altering all the time believe ir-35 in the UK which has actually been an ongoing development for several years now and and still a lot of unpredictability among companies on what it really indicates and how you handle it most companies are simply not aware of the guidelines and and act as if the the rules are the same everywhere which they’re not so so motivate you to to be extremely proactive as you’re engaging uh employees from a category point of view alright thank you Stephen and moving back to yourself Ray it’s not just the business that suffers in the long run what effects can this have on the worker Ask Papaya Global Year End 2019 particularly when it pertains to their own tax liabilities social security and benefits for example jury and clearly the employees the opposite of the coin
I find time and time again the workers often misclassified unknowingly they don’t comprehend 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 taken part in this style the employee might owe taxes and Social Security to the authorities the future pension and healthcare benefits of the worker 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 gone by they haven’t added to pensions Etc so it’s a big effect that they never understood they were walking into you could not agree with you more if you state the UK for instance hmrc can go back as much as 10 years um Kathy business are securing insurance versus misclassification however generally premiums are just covering the expense of legal fees whilst the average claim examined against employers corresponds to to 40 or 50 percent of the base pay of employee exists any point in securing insurance and what is the alternative yeah to your point um you do need to read the fine print it is not covering the taxes charge and interest in most cases I haven’t seen it a minimum of so uh the the other area that I do think if you managed to get the coverage what we are stating is is that if your compliance program is not up to stuff you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Cost Considerations and Ask Papaya Global Year End 2019 …
The detailed functions of come at an expense,
Current decades have actually seen a dramatic change to the labor force as the increase of remote work has broken down geographical barriers to employing. Organizations can now employ staff from anywhere worldwide, permitting them to access the very best readily available talent for any offered role. This gives workers more flexibility to work from home and increase their income without transferring to pricey areas or travelling fars away. A 2022 survey discovered that 87% of employees who have the opportunity to work remotely take that chance. The break out of COVID-19, in conjunction with brand-new enterprise connectivity software application, sped up the move to remote work, including in industries previously hesitant to welcome the pattern.
insights are important to us and and your fellow guests so first things first though um let’s be familiar with everybody my name is Ian Charles and I have actually operated in payroll for the last 25 years I’ve had roles in all type of Industries retail and Appeal to Aerospace in all types of services startup to matrixed environments around the world I provided leadership and strategy to populations of more than 100,000 employees on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across business man maning and developing external relationships supporting Enterprise customers and options and acting as a consultant I wish to introduce our very first Greg um guest Greg who will kick things off by informing us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal group and really work really closely with our um HR department too to deal with various legal and HR matters that turn up so really thrilled to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our mission is to set you as HR experts free to do excellent
While Papaya Global offers combinations with various HR and finance systems, the application process was not without difficulties. Incorporating the software application with our existing facilities needed additional personalization, resulting in some hold-ups in the preliminary rollout.
Paying FAQs Ask Papaya Global Year End 2019 2024
and some smaller sized subsidiaries within our company found the pricing to be on the greater side. As an international company, balancing the requirement for sophisticated features with budget plan restrictions became a fragile workout.
Client Support Response Time:
There were circumstances where our groups dealt with concerns that required timely assistance. Nevertheless, the reaction time from’s customer support team was not always as fast as wanted, leading to periodic hold-ups in concern resolution.
Our execution of involved a phased method. We started by onboarding a few subsidiaries to test the system’s compatibility with our existing processes. This enabled us to recognize and address integration obstacles early on. As the software became more ingrained in our operations, we gradually expanded its usage to cover our entire international workforce.
The automated functions structured our payroll processes, lowering the time spent on manual computations and compliance tracking. Routine training sessions and continuous assistance from Papaya assisted our groups become skilled users of the software application, optimizing its capacity for our company.
Nevertheless, paying a labor force can be complicated. It is especially challenging for business who employ staff throughout multiple countries, as they should constantly combine various information streams, by hand track local and national labor and guidelines, and spend valuable time and resources to set up local entities in new locations. These companies are faced with suboptimal, pricey options, like opening a foreign subsidiary or employing an expert employment company, which is a regional firm that employs staff members on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty hiring qualified personnel, a boost of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
offers a service supporting all forms of work. It provides an end-to-end platform, from worker onboarding and continuous 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 ensures information personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading expert in payroll and workforce management. She co-founded after seeing the innovation space in global.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to go to the complete webcast in order to get 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 brand-new tab will open in your internet browser with the webcast survey please make sure to complete 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 enjoyed have you here as we start a journey of information to guideline achieving
360 degree employee compliance where we’ll dive into the essential aspects of the worker compliance management model throughout the session we’ll explore real life difficulties genuine regional regulations finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to secure your organization and employees while staying certified in an
Ever developing regulative environment in the everchanging world of company and finance making sure compliance with payroll policies is not just vital but likewise a legal necessary from the moment of employing to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance dangers that have far-reaching consequences however with a deeper more nuanced understanding of their obligations organizations can not only navigate the detailed landscape however also proactively ensure this 360 degree compliance the webinar is created to equip you with the understanding and tools necessary to browse the complex Surface of compliance whether you’re an experienced P expert a small company owner or somebody brand-new to the field what I would like to do before we start and I think it’s actually crucial
In our quest to improve performance and precision in managing our global workforce, our multinational corporation turned to, a leading and labor force management software application. The transition aimed to simplify the complex job of managing across various countries, currencies, and compliance regulations.
Among the standout functions of is its robust compliance management system. The software application immediately updates itself to stick to ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been invaluable in guaranteeing that our processes stay compliant in each nation of operation.
is to state that the content here is illegal advice it is just for your details please consult your legal team needs to you have any concerns or issues in relation to anything that we’ve gone over today our key take key takeaways by the end of the webinar will be an understanding of worker compliance risks how to employ ly with self-confidence how to simplify information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.
serve as your hris or is sort of your core worker record um to manage that employee life process throughout their Journey with you as as a staff member in addition to a payroll module we need to help you pay those employees and compensate them and advantages Administration module that enables you to assist manage the advantages you supply to your employees so really thrilled to be here represent um bamb booy jar and discuss this topic um and I guess from my viewpoint I’ll I’ll probably supply a great deal of a concentrate on the US side of things when we speak about kind 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 tell the audience a little bit about papay worldwide yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Work specialist manager.
at I handle the employment Council in the United States APAC EMA and Israel region I likewise serve as us Council for I’m licensed in New york city and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and labor force management as a Service labor force supplier to workers serving in over.
160 nations all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were kind of like going through the introduction so it’s truly really great to really see in the webinar chat where everyone’s actually attending from today I can see that we have people in Las Vegas and Indiana currently so if you wish to continue tell where you are that would be absolutely great whilst we just await everybody else to kind of like join in there we go Chicago too well um so whil we’re doing that I’m waiting for everybody to type of join I’ll just run us through the program um today we are going to talk about working with Skill new higher Information Management termination compliance and automation wow the chat has got actually truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is great so uh I’m hoping that we’re really going to have some really excellent commentary and questions throughout the uh the webinar too all right 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 data is Ask Papaya Global Year End 2019 diverse without fail and an.
Ever developing relationship that starts the minute a person joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous crucial stages whilst we’re actually you know that they’re used with us so on boarding day-to-day operations payment and benefits professional advancement then we get to the offboarding and even advocacy so it even happens after the worker has left your employment throughout the journey organizations are accountable for gathering saving securing employee data in compliance with data privacy regulations no matter where it is you’re running all over the world it typically includes implementing safe information management systems and making sure strict adherence to regional requirements to secure both the staff member and the organization the evolution of staff member information and management c.