A CFO’s Viewpoint on Bill Mantovani Papaya Global…
Papaya Global’s platform enhances international labor force management for companies, guaranteeing compliance with local policies and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes worldwide payroll operations, supplying services with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of worldwide business operations, managing payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a worldwide business, I comprehend the vital significance of effective and certified payroll management. In our pursuit of excellence, we have embraced ingenious options to enhance our processes, and one such transformative tool is Software application.
The Challenge of Worldwide Payroll:
Global growth brings about varied obstacles, and payroll management is no exception. Differing tax guidelines, varying employment laws, and several currencies make it essential for companies to embrace advanced services to ensure precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Service:
It is crucial to think about and consist of post-termination limitations in the employment agreement to guarantee enforceability. You need to carefully determine what you are looking for to secure and clearly specify the secret information that falls within its scope. Furthermore, specify the duration of the post-termination restriction and be prepared to validate it in relation to copyright. The rules regarding copyright vary depending on the kind of IP and the jurisdiction. For example, in the Netherlands, the end client is most likely to have copyright rights over works produced by workers under their supervision, while in Poland, legal task may be needed.
Papaya Global Software has become a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, user-friendly interface. As the CFO, I have seen firsthand the favorable effect of on our organization’s financial operations.
Unified Global Payroll Processing:
allows our company to process payroll flawlessly across numerous nations. The platform’s unified technique permits constant payroll estimations, minimizing errors and ensuring compliance with regional policies. This has substantially reduced the threats related to global payroll processing.
also key for if later on someone states misclassification you have your file supported by the requisite files which the right assessment tools to reveal someone that you had a thoughtful process therefore 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 a private or are you handling 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 staff member so for example accounting
I.T crafting 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 managed again another crucial element is the management and guidance of the uh employee and after that lastly when is it a specific project is it a six-month job six years all of this is manageable but it has 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 worldwide these tools take a survey list for the employee the worker submits and fills these questions out and so does completion customer or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the different questions since not every jurisdiction has the exact same feeling about some of these concerns some think they’re more important than others and it brings out a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can probably assist you with that in regards to some of the things you need to bolster to make certain that you are given that evaluation of uh independent professional or green where you were evaluated as an as a independent professional once that assessment is done all the requisite documents are underneath it so that if later on there
Navigating the intricacies of worldwide employment laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our company updated with modifications in policies across jurisdictions. This makes sure that our payroll procedures abide by the latest standards, decreasing the risk of non-compliance and associated charges.
Bill Mantovani Papaya Global and Time Savings:
The software application’s automation abilities have actually considerably reduced the time and effort needed for payroll processing. Handbook information entry and recurring tasks have been lessened, enabling our finance group to focus on strategic efforts instead of administrative problems. This has actually led to increased effectiveness and performance within our monetary operations.
in one because each state has its own guidelines Californians are a few of the most rigorous an example is pay slips on a payslip in California the best details needs 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 issued per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to worry to consider and we’re just two concerns in and 10 minutes or two hiring in one nation is challenging enough however when working with in a you understand on a worldwide level it’s an entirely different story you require to make sure that you’re up to date with present in addition to pending regional labor laws Steve um how do you make certain and make sure that individuals 2.0 group is on top of an ever-changing landscape which your customers are totally supported and I’ll organize this into 3 essential things we do in primarily you need to have the right group so we employ a team of global experts in Employment Practices um that ex that group of experts consists of attorneys it consists of payroll professionals it includes HR professionals and these are individuals that not just know the laws in these in these countries and areas but they also know the languages they know the local practices they understand the cultures and it is essential to have that best team and really have the group on the ground uh dealing 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 information is crucial for decision-making. The platform’s reporting abilities empower me to make informed strategic choices based upon real-time insights into our worldwide payroll information.
The practical application and degree of the application to work law can be assessed through the legal system using case law examples. For example, the acquired rights directive, also called the 2p policies in the UK, and the working time guidelines have been subject to different legal interpretations, especially concerning vacation pay. Furthermore, the concept of employment status has seen numerous legal precedents over the
Scalability for Service Growth:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software application flawlessly accommodates changes in our workforce and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the evolving requirements of our global company.
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 individually and collectively these three individuals have Years of experience in in employment law and worldwide Employment Practices so thank you it’s a satisfaction to be with everyone here today sounds like we’ve got the right people with us today and in in addition to to those well we also have one of our own Stars erase share head of Global Solutions at papaya International inform us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the business for around 4 and a half years as head of Collaborations I have actually developed Papaya’s network of in-country Partners in over 160 locations on a personal element and related to our subject today I’ve had the chance to move and operate in 3 various nations it is the business’s obligation to guarantee my security while living in a foreign country compliance with regional laws and policies is crucial for me or anybody else as an expat or as a local so today we have welcomed our relied on Partners individuals 2.0 to show the value of local
know-how when business Go Global thank you and enjoy okay thank you as I said let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the concerns you have actually been considering we’ll talk about the truths a company needs to consider when opening a brand-new entity and expanding into new countries along with keeping things going we’ll cover aspects such as local regulations considerations when hiring compliance key challenges payments and what not to do it is among the most important things remembering what not to do um operating on an international level is not for the faint-hearted the bigger a business grows the more they need to comprehend and handle knowing what to do in each brand-new circumstance as it increases is important on numerous levels understanding local guidelines and local laws in addition to service practices assists reduce Associated and global expansion papaya through our regional specialists can navigate potential dangers such as copyright protection data privacy security concerns making sure the business’s operations remain certified and protected tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has actually proven to be an invaluable property in our quest for effective and certified worldwide payroll management. As the CFO of a worldwide company, I am confident in suggesting Papaya Global to organizations looking for to enhance their payroll processes, improve compliance, and achieve greater performance in handling their global workforce. The software’s ingenious functions and commitment to quality line up with our tactical goals, making it an essential part of our monetary operations.
publicly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly revealed settlements there’s likewise considerable legal costs there’s there’s other charges there’s other expenses behind that as well so the total cost can be really substantial in the tens of countless dollars or more and and those quantities are growing uh the reason companies are getting it so wrong is really simply the rules are intricate and they’re changing all the time think ir-35 in the UK which has actually been a continuous advancement for several years now and and still a great deal of uncertainty among companies on what it truly means and how you deal with it most companies 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 employees from a category perspective okay thank you Stephen and returning to yourself Ray it’s not just the company that suffers in the long run what effects can this have on the worker Bill Mantovani Papaya Global especially when it comes to their own tax liabilities social security and benefits for instance jury and undoubtedly the employees the opposite of the coin
I discover time and time again the employees typically misclassified unknowingly they do not comprehend the conditions of employment or agreement and are informed by the client why it’s most advantageous generally to the customer why you must be used or engaged in this style the employee might owe taxes and Social Security to the authorities the future pension and health care benefits of the worker can be affected and numerous times it can be years before this all falls out and by that time it’s far too late years have passed they have not added to pensions Etc so it’s a big impact that they never ever knew they were walking into you could not agree with you more if you state the UK for example hmrc can return as much as 10 years um Kathy business are taking out insurance coverage against misclassification however generally premiums are just covering the cost of legal charges whilst the typical claim assessed versus companies relates to to 40 or 50 percent of the base pay of worker is there any point in securing insurance and what is the alternative yeah to your point um you do require to read the small print it is not covering the taxes penalty and interest for the most part I haven’t seen it at least so uh the the other location 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 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 Factors to consider and Bill Mantovani Papaya Global …
The comprehensive features of come at a cost,
Recent decades have actually seen a dramatic change to the labor force as the rise of remote work has broken down geographical barriers to hiring. Services can now employ staff from anywhere worldwide, permitting them to access the very best readily available skill for any provided function. This offers employees more freedom to work from home and increase their income without moving to pricey locations or travelling cross countries. A 2022 survey discovered that 87% of workers who have the opportunity to work from another location take that opportunity. The outbreak of COVID-19, in conjunction with new business connectivity software, accelerated the move to remote work, including in industries previously hesitant to embrace the trend.
insights are important to us and and your fellow guests so first things first though um let’s get to know everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had functions in all sort of Industries retail and Charm to Aerospace in all types of companies startup to matrixed environments across the globe I offered management and strategy to populations of more than 100,000 staff members on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across the business guy maning and constructing external relationships supporting Business clients and options and functioning as an advisor I ‘d like to present our very first Greg um visitor 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 team and actually work extremely closely with our um HR department also to manage numerous legal and HR matters that turn up so actually excited to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we say our objective is to set you as HR professionals free to do terrific
While Papaya Global deals combinations with numerous HR and finance systems, the execution procedure was not without obstacles. Incorporating the software application with our existing facilities required extra customization, leading to some delays in the preliminary rollout.
Paying FAQs Bill Mantovani Papaya Global 2024
and some smaller subsidiaries within our organization discovered the rates to be on the greater side. As a worldwide company, stabilizing the requirement for innovative features with budget restrictions became a delicate workout.
Customer Assistance Response Time:
There were circumstances where our groups dealt with concerns that required timely help. However, the response time from’s consumer support group was not constantly as fast as desired, leading to periodic hold-ups in concern resolution.
Our application of involved a phased technique. We started by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This enabled us to determine and deal with integration difficulties early on. As the software ended up being more implanted in our operations, we gradually expanded its use to cover our entire worldwide workforce.
The automated functions structured our payroll processes, reducing the time spent on manual calculations and compliance tracking. Routine training sessions and ongoing assistance from Papaya helped our groups become competent users of the software, optimizing its potential for our company.
Companies that worker workers across several countries typically face elaborate challenges when it comes to managing their labor force. Among the most significant obstacles is consolidating numerous data streams and adhering to diverse regional and national labor regulations, which can be both time-consuming and pricey. Furthermore, setting up local entities in brand-new areas can be a pricey and suboptimal option, with alternatives such as opening a foreign subsidiary or working with a professional employment organization (PEO) typically charging up to 15% of the payroll. These obstacles have caused a considerable increase in difficulty recruiting certified workers, with 75% of employers reporting this concern in 2022, a 21% increase from 2019. The payroll and HR options market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
offers an option supporting all forms of employment. It offers an end-to-end platform, from employee onboarding and ongoing management to global payments and. It assists business with labor law compliance in the jurisdictions in which they run, offers management of work advantages, and ensures information privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading specialist in payroll and labor force management. She co-founded after seeing the technology gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to attend 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 new tab will open in your web browser with the webcast study please make certain to finish it as soon as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hey there and thank you for joining us today we’re thrilled to have you here as we start a journey of data to regulation attaining
360 degree worker compliance where we’ll dive into the vital elements of the employee compliance management model throughout the session we’ll explore real world obstacles genuine local regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to protect your organization and staff members while remaining compliant in an
Ever evolving regulative environment in the everchanging world of company and finance guaranteeing compliance with payroll policies is not only crucial but also a legal necessary from the minute of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance threats that have far-reaching repercussions however with a deeper more nuanced understanding of their obligations organizations can not just browse the intricate landscape however also proactively ensure this 360 degree compliance the webinar is designed to equip you with the understanding and tools required to navigate the complex Surface of compliance whether you’re a skilled P specialist a small business owner or someone brand-new to the field what I wish to do before we begin and I believe it’s really important
In our quest to enhance efficiency and accuracy in handling our international workforce, our multinational corporation turned to, a leading and workforce management software application. The shift aimed to streamline the complex job of managing across numerous countries, currencies, and compliance policies.
Among the standout functions of is its robust compliance management system. The software application immediately updates itself to adhere to ever-evolving tax and labor laws throughout numerous jurisdictions. This has been vital in making sure that our processes stay certified in each nation of operation.
is to state that the content here is not legal guidance it is simply for your information please consult your legal group must you have any questions or concerns in relation to anything that we have actually talked about today our secret take crucial takeaways by the end of the webinar will be an understanding of employee compliance risks how to hire ly with confidence how to simplify data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
act as your hris or is kind 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 help you pay those workers and compensate them and benefits Administration module that permits you to assist handle the advantages you offer to your staff members so actually thrilled to be here represent um bamb booy container and speak about this subject um and I think from my perspective I’ll I’ll probably offer a great deal of a focus on the US side of things when we speak about sort of compliance so pleased to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a little bit about papay global yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment specialist supervisor.
at I manage the employment Council in the United States APAC EMA and Israel area I likewise work as us Council for I’m certified in New York and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and labor force management as a Service labor force provider to employees serving in over.
160 countries fine thank you so both I feel totally underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the introduction so it’s actually actually nice to actually see in the webinar chat where everyone’s in fact participating in from today I can see that we have people in Las Vegas and Indiana already so if you want to continue inform where you are that would be absolutely wonderful whilst we just await everyone else to kind of like participate there we go Chicago as well well um so whil we’re doing that I’m waiting on everybody to type of join I’ll just run us through the program um today we are going to talk about hiring Skill new higher Information Management termination compliance and automation wow the chat has got truly truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over 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 also alright so that’s the agenda then what I ‘d like to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their data is Bill Mantovani Papaya Global diverse without fail and an.
Ever developing relationship that begins the moment an individual joins an organization it continues throughout their employment and Beyond this journey can be divided into k to a number of essential stages whilst we’re really you know that they’re used with us so on boarding day-to-day operations payment and advantages expert 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 organizations are accountable for gathering saving securing worker data in compliance with data personal privacy regulations no matter where it is you’re operating around the globe it typically includes implementing safe and secure information management systems and guaranteeing rigorous adherence to local requirements to safeguard both the worker and the company the evolution of staff member information and management c.