A CFO’s Viewpoint on Cheap Papaya Global Software…
Papaya Global’s platform simplifies worldwide workforce management for companies, ensuring compliance with local guidelines and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes international payroll operations, offering companies with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of global service operations, handling payroll throughout borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a worldwide business, I understand the vital significance of efficient and compliant payroll management. In our pursuit of excellence, we have actually accepted ingenious solutions to streamline our processes, and one such transformative tool is Software.
The Difficulty of Global Payroll:
Worldwide growth produces diverse difficulties, and payroll management is no exception. Differing tax policies, differing employment laws, and numerous currencies make it important for companies to adopt sophisticated services to make sure accuracy, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Option:
employees so it’s really essential to ensure that you’ve thought about from the outset any post-termination limitations that you wish to take into the contract of work that they’re enforceable so that means you require to truly think of what it is you’re seeking to protect and why clearly Define what’s included within the scope of that confidential information and resolve the period of restriction post-determination that you wish to apply and be really able to to justify that in relation to intellectual property the position actually depends on the type of copyright you’re wanting to safeguard and likewise the jurisdiction so for example from a copyright perspective in the Netherlands completion client is more likely to have the um intellectual property rights in a copyright that the workers produced who’s been under their supervision and control instantly nevertheless in somewhere like Poland for example that automatic right may not exist and that assignment would need to stream through the chain uh contractually so it actually depends upon the jurisdiction and the kind of IP alright thank you Elizabeth Steve was remaining on the topic of agreements Miss categorized misclassifying employees
Papaya Global Software has actually emerged as a game-changer in the world of global payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use interface. As the CFO, I have actually experienced firsthand the favorable effect of on our organization’s monetary operations.
Unified International Payroll Processing:
enables our business to process payroll perfectly across several countries. The platform’s unified technique allows for constant payroll calculations, decreasing errors and guaranteeing compliance with local policies. This has actually considerably mitigated the risks associated with global payroll processing.
also crucial for if later on somebody says misclassification you have your file supported by the requisite documents and that the right assessment tools to reveal someone that you had a thoughtful procedure and so what do you need to include because procedure it’s the who the what the where and the when who are you dealing with are you dealing with a private or are you dealing with a personal Service Corporation and how are they running what are they doing is it the kind of work that provides itself more to being an independent professional than a worker so for instance accounting
I.T crafting the creatives these all lend themselves more to that evaluation of being freelancer you understand also uh where are they doing it can they work from anywhere or do they need to be on site and handled again another essential aspect is the management and supervision of the uh worker and after that lastly when is it a particular task is it a six-month project six years all of this is workable but it has to be documented and it needs to be completely um investigated so we have a tool we call it ic2 we had an ic1 and we’ve enhanced 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 concerns out and so does the end customer or the recipient of the services they both put their details into the tool and after that it does an examination waiting the different questions because not every jurisdiction has the very same feeling about a few of these concerns some believe they’re more important than others and it comes out with a red yellow or green red you’re probably a worker yellow you’re on the cusp we can probably help you with that in terms of some of the things you need to strengthen to make sure that you are given that assessment of uh independent contractor or green where you were examined as an as a independent professional once that examination is done all the requisite documents are below it so that if in the future there
Navigating the complexities of international employment laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in policies across jurisdictions. This makes sure that our payroll processes follow the current standards, lessening the risk of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal firms who assist us keep our databases totally up to date and we also contact we require to when we see an uncommon or or especially intricate scenarios alright thanks Steve I can simply see a quick concern in the Q a window yes the session will be tape-recorded and sent out to guests later on um returning to to the webinar itself Ray company of record is controlled in a different way around the globe and the German law for example it’s classified as worker leasing can you shed any light on some of the unique considerations for countries and where the eor design isn’t regulated yes Ian employee leasing or labor leasing as it’s also called which is prevalent in numerous countries specifically in Europe enforces stringent guidelines on products such as the length of assignment it likewise assigns employees to collective bargaining contracts that gives them rights and advantages however even in the countries that do not have those rigorous guidelines for example the UK Canada and the nordics there are regulations for each nation and each employee is dealt with the like all the other employees because nation and all those guidelines require to be followed fine thank you Ray um Kathy moving I would state to yourself what do companies need to consider when identifying contract status to protect themselves and the rights of hires what are the benefits and drawbacks of employing contractors and Freelancers versus long-term workers so undoubtedly the the benefit of specialists versus employees is the the flexibility for both the worker and for the company um but I can’t worry enough how important it is to have a constant thorough and a well-documented compliance
Cheap Papaya Global Software and Time Savings:
The software’s automation capabilities have actually significantly reduced the time and effort needed for payroll processing. Manual data entry and recurring tasks have actually been minimized, permitting our financing group to focus on tactical initiatives rather than administrative concerns. This has actually led to increased efficiency and performance within our financial operations.
in one given that each state has its own regulations Californians are some of the most rigorous an example is pay slips on a payslip in California the ideal details needs to be on the payslip in the ideal format and in the ideal position if you remain in breach of of policies for payslips the fines are provided per payslip so that’s each staff member each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to fret to think of and we’re just two concerns in and 10 minutes approximately employing in one nation is tough enough however when hiring in a you understand on an international level it’s an entirely various story you need to make certain that you’re up to date with present as well as pending local labor laws Steve um how do you ensure and ensure that individuals 2.0 team is on top of an ever-changing landscape and that your customers are totally supported and I’ll organize this into 3 key things we carry out in primarily you need to have the best team so we work with a team of international experts in Employment Practices um that ex that team of experts consists of attorneys it includes payroll specialists it consists of HR professionals and these are people that not only understand the laws in these in these countries and regions however they likewise know the languages they know the regional practices they know the cultures and it is very important 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 comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and timely monetary data is essential for decision-making. The platform’s reporting abilities empower me to make educated strategic choices based upon real-time insights into our global payroll information.
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 regulation otherwise called the 2p guidelines in the UK the working time policies which has had numerous strands of that legislation tested particularly around vacation pay and of course as Kathy’s going to come on to talk about later work status which there’s been several precedence set over the years so I believe it’s actually that constant advancement of the employment law landscape that you really require to navigate when when working in Europe all right thank you Elizabeth Ray what about you from your personal experience while moving across the pond as discussed each country has various policies however the United States is essentially 50 countries
Scalability for Company Growth:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software application flawlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the developing requirements of our global organization.
International Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Gander who is our senior vice president of client services and I would state separately and collectively these three individuals have Decades of experience in in work law and global Work Practices so thank you it’s a pleasure 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 one of our own Stars erase share head of Global Solutions at papaya Global inform us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the company for around 4 and a half years as head of Partnerships I have established Papaya’s network of in-country Partners in over 160 locations on an individual aspect and related to our subject today I’ve had the opportunity to transfer and work in three various countries it is the business’s obligation to guarantee my defense while living in a foreign nation compliance with local laws and guidelines is essential for me or anybody else as an expat or as a local so today we have actually invited our trusted Partners people 2.0 to demonstrate the significance of local
competence when business Go Global thank you and take pleasure in fine thank you as I said let’s move on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you have actually been considering we’ll discuss the facts a company needs to think about when opening a brand-new entity and broadening into new nations along with keeping things going we’ll cover elements such as regional policies factors to consider when employing compliance essential challenges payments and what not to do it’s one of the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the larger a business grows the more they require to comprehend and manage understanding what to do in each brand-new situation as it rises is essential on numerous levels comprehending regional policies and local laws in addition to business practices assists alleviate Associated and global growth papaya through our regional specialists can browse possible risks such as copyright security information privacy security issues ensuring the business’s operations stay compliant and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software application has actually shown to be an important possession in our mission for effective and compliant global payroll management. As the CFO of a global company, I am confident in advising Papaya Global to companies looking for to improve their payroll processes, improve compliance, and accomplish higher performance in handling their international workforce. The software’s ingenious functions and commitment to quality align with our tactical goals, making it an important 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 also substantial legal costs there’s there’s other charges there’s other expenses behind that too so the total expense can be very substantial in the tens of countless dollars or more and and those amounts are growing uh the reason why companies are getting it so wrong is actually simply the guidelines are complicated and they’re changing all the time believe ir-35 in the UK which has actually been an ongoing development for a number of years now and and still a great deal of uncertainty amongst business on what it truly means and how you handle it most companies are just not knowledgeable about the rules and and act as if the the rules are the same all over which they’re not so so motivate you to to be really proactive as you’re engaging uh employees from a classification point of view okay thank you Stephen and moving back to yourself Ray it’s not just the company that suffers in the long run what impacts can this have on the employee Cheap Papaya Global Software particularly when it comes to their own tax liabilities social security and benefits for example jury and certainly the workers the other side of the coin
I find time and time again the employees typically misclassified unknowingly they do not comprehend the conditions of work 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 style the employee may owe taxes and Social Security to the authorities the future pension and health care privileges of the worker 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 have not contributed to pensions Etc so it’s a huge 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 return as much as 10 years um Kathy business are getting insurance coverage against misclassification but generally premiums are just covering the expense of legal costs whilst the typical claim assessed against companies corresponds to to 40 or half of the base salary of worker exists any point in taking out 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 penalty and interest in most cases I have not 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 saying is is that if your compliance program is not up to pack you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Cost Factors to consider and Cheap Papaya Global Software …
The thorough features of come at a cost,
Over the past couple of decades, the labor force has gone through a considerable improvement with the development of remote work, which has actually removed geographical constraints on hiring. This has made it possible for services to recruit skill from all over the world, enabling them to assemble the very best possible team for each function. As a result, staff members have acquired greater flexibility to work from home and increase their revenues without having to relocate to pricey areas or commute cross countries. According to a 2022 survey, 87% of staff members who have the option to work remotely choose to do so. The COVID-19 pandemic, integrated with advancements in enterprise connectivity software application, has actually even more accelerated the shift towards remote work, even in industries that were at first reluctant to adopt the trend.
insights are important to us and and your fellow participants so first things initially though um let’s learn more about everyone my name is Ian Charles and I’ve worked 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 services startup to matrixed environments across the globe I provided management and method to populations of more than 100,000 employees on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work across business guy maning and building external relationships supporting Business customers and solutions and serving as a consultant I ‘d like to present our very 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 internal legal group and really work very carefully with our um HR department as well to handle various legal and HR matters that turn 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 professionals totally free to do terrific
Although Papaya Global offers combinations with various HR and finance systems, we came across some hurdles throughout the combination procedure. Tailoring the software application to line up with our existing infrastructure showed to be more complicated than prepared for, resulting in delays in the initial rollout.
The extensive functions provided by Papaya Global come at a cost, which some of our smaller subsidiaries discovered to be excessively costly. As a global organization, we needed to carefully weigh the need for advanced performance against budget constraints.
Support Response Time:
On occasion, our teams experienced problems that needed immediate assistance. However, the action time from Papaya Global’s customer assistance group was not constantly as timely as we would have liked, leading to hold-ups in dealing with those problems.
Our execution of involved a phased method. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing processes. This permitted us to identify and address combination challenges early on. As the software application became more ingrained in our operations, we slowly broadened its use to cover our whole global labor force.
The automated functions streamlined our payroll processes, reducing the time invested in manual calculations and compliance tracking. Regular training sessions and continuous assistance from Papaya helped our groups end up being skilled users of the software, maximizing its capacity for our organization.
Business that employee workers throughout numerous nations frequently face complex difficulties when it pertains to handling their workforce. One of the biggest difficulties is consolidating numerous information streams and adhering to varied local and nationwide labor regulations, which can be both lengthy and expensive. Furthermore, establishing regional entities in new regions can be a pricey and suboptimal alternative, with options such as opening a foreign subsidiary or hiring a professional work organization (PEO) frequently charging up to 15% of the payroll. These obstacles have actually caused a substantial boost in trouble recruiting certified workers, with 75% of employers reporting this problem in 2022, a 21% boost from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
offers a solution supporting all forms of work. It provides an end-to-end platform, from employee onboarding and continuous management to international payments and. It assists business with labor law compliance in the jurisdictions in which they operate, provides management of employment advantages, and guarantees data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading specialist in payroll and workforce management. She co-founded after seeing the innovation space in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to participate in the total webcast in order to receive 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 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 thrilled to have you here as we embark on a journey of data to guideline accomplishing
360 degree employee compliance where we’ll dive into the essential elements of the employee compliance management model throughout the session we’ll explore real world obstacles real local guidelines best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to safeguard your company and employees while staying compliant in an
Ever developing regulative environment in the everchanging world of service and financing making sure compliance with payroll policies is not just vital but also a legal imperative from the minute of hiring to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance threats that have significant consequences nevertheless with a deeper more nuanced understanding of their commitments organizations can not only browse the elaborate landscape however likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools necessary to browse the complex Surface of compliance whether you’re a seasoned P expert a small business owner or someone new to the field what I would like to do before we begin and I believe it’s actually crucial
In our quest to improve effectiveness and accuracy in handling our global labor force, our multinational corporation turned to, a leading and labor force management software. The shift intended to streamline the complex job of managing across different countries, currencies, and compliance policies.
One of the standout features of is its robust compliance management system. The software automatically updates itself to follow ever-evolving tax and labor laws throughout numerous jurisdictions. This has been important in making sure that our processes remain certified in each nation of operation.
is to state that the content here is not legal suggestions it is just for your information please consult your legal team needs to you have any questions or concerns in relation to anything that we have actually gone over today our secret take essential takeaways by the end of the webinar will be an understanding of staff member compliance threats how to work with ly with confidence how to streamline information management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we have actually.
serve as your hris or is kind of your core worker record um to manage that staff member life process throughout their Journey with you as as an employee in addition to a payroll module we need to help you pay those staff members and compensate them and advantages Administration module that permits you to help manage the benefits you provide to your employees so truly thrilled to be here represent um bamb booy container and discuss this topic um and I guess from my viewpoint I’ll I’ll most likely offer a great deal of a focus on the US side of things when we discuss type of compliance so delighted to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to present yourself and tell the audience a bit about papay global yes definitely thank you Ian hello everyone I’m Gina dorelis I’m the Work specialist supervisor.
at I handle the work Council in the United States APAC EMA and Israel area I likewise work as us Council for I’m licensed in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and labor force management as a Service work force service provider to employees serving in over.
160 nations alright thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were sort of like going through the introduction so it’s actually really great to in fact see in the webinar chat where everybody’s really going to from today I can see that we have people in Las Vegas and Indiana currently so if you wish to continue inform where you are that would be definitely great whilst we simply wait on everyone else to kind of like participate there we go Chicago as well well um so whil we’re doing that I’m awaiting everyone to sort of join I’ll simply run us through the program um today we are going to go over working with Talent brand-new higher Info Management termination compliance and automation wow the chat has actually got truly actually busy 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 in fact going to have some really terrific commentary and questions throughout the uh the webinar as well okay so that’s the agenda then what I wish 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 Cheap Papaya Global Software diverse without fail and an.
Ever evolving relationship that starts the moment an individual signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to numerous key phases whilst we’re really you understand that they’re utilized with us so on boarding daily operations payment and advantages professional advancement then we get to the offboarding and even advocacy so it even occurs after the staff member has left your employment throughout the journey companies are accountable for collecting storing safeguarding worker information in compliance with data privacy guidelines no matter where it is you’re operating around the world it often involves executing safe and secure information management systems and guaranteeing rigorous adherence to regional requirements to safeguard both the staff member and the company the development of worker data and management c.