A CFO’s Point of view on Is Papaya Global Easy To Use…
Papaya Global’s platform enhances global labor force management for business, making sure compliance with regional policies and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and participation tracking, and HR support. The platform centralizes global payroll operations, offering organizations with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of global organization operations, managing payroll across borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a global business, I understand the critical significance of effective and certified payroll management. In our pursuit of excellence, we have welcomed ingenious options to improve our processes, and one such transformative tool is Software.
The Obstacle of Global Payroll:
Global growth brings about diverse challenges, and payroll management is no exception. Differing tax regulations, differing work laws, and multiple currencies make it important for companies to adopt advanced solutions to ensure precision, compliance, and performance in payroll processing.
Software application: A Comprehensive Service:
It is crucial to consider and consist of post-termination limitations in the employment contract to ensure enforceability. You should thoroughly determine what you are looking for to safeguard and clearly specify the secret information that falls within its scope. In addition, define the duration of the post-termination limitation and be prepared to validate it in relation to intellectual property. The rules concerning intellectual property vary depending upon the type of IP and the jurisdiction. For instance, in the Netherlands, completion customer is likely to have copyright rights over works produced by employees under their guidance, while in Poland, legal task might be essential.
Papaya Global Software application has actually become a game-changer in the world of global payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, easy to use interface. As the CFO, I have experienced firsthand the favorable impact of on our company’s financial operations.
Unified Worldwide Payroll Processing:
allows our business to process payroll seamlessly across several countries. The platform’s unified method allows for consistent payroll calculations, decreasing mistakes and ensuring compliance with local policies. This has actually substantially mitigated the threats associated with worldwide payroll processing.
likewise essential for if in the future someone says misclassification you have your file supported by the requisite files and that the ideal assessment tools to show someone that you had a thoughtful procedure and so what do you need to consist of because process it’s the who the what the where and the when who are you handling are you dealing with a specific or are you handling 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 contractor than an employee so for example accounting
I.T engineering the creatives these all provide 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 website and managed once again another essential factor is the management and supervision of the uh worker and after that lastly when is it a specific job is it a six-month project six years all of this is manageable but 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’ve improved it this year so that we can roll it out internationally these tools take a survey list for the employee the employee submits and fills these concerns out and so does the end client or the recipient of the services they both put their details into the tool and then it does an assessment waiting the different concerns because not every jurisdiction has the same feeling about some of these questions some think they’re more crucial than others and it brings out a red yellow or green red you’re probably a staff member yellow you’re on the cusp we can probably assist you with that in regards to a few of the things you need to bolster to ensure that you are given that examination of uh independent specialist or green where you were examined as an as a independent specialist once that assessment is done all the requisite files are beneath it so that if later there
Navigating the complexities of worldwide employment laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our company up-to-date with modifications in guidelines throughout jurisdictions. This ensures that our payroll processes adhere to the latest standards, reducing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal firms who assist us keep our databases completely up to date and we likewise get in touch with we need to when we see an uncommon or or especially intricate scenarios all right thanks Steve I can simply see a fast concern in the Q a window yes the session will be tape-recorded and sent out to attendees afterwards um moving back to to the webinar itself Ray employer of record is managed differently worldwide and the German law for instance it’s classed as staff member leasing can you shed any light on some of the special considerations for countries and where the eor design isn’t controlled yes Ian staff member leasing or labor leasing as it’s also called which is prevalent in a number of countries particularly in Europe imposes strict regulations on products such as the length of assignment it likewise appoints employees to collective bargaining agreements that provides rights and advantages but even in the countries 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 dealt with the like all the other workers because nation and all those policies require to be complied with okay thank you Ray um Kathy moving I would state to yourself what do companies need to consider when identifying agreement status to protect themselves and the rights of hires what are the benefits and drawbacks of working with professionals and Freelancers versus irreversible staff members so obviously the the advantage of specialists versus staff members is the the flexibility for both the worker and for the employer um however I can’t stress enough how essential it is to have a constant extensive and a well-documented compliance
Is Papaya Global Easy To Use and Time Cost Savings:
The software application’s automation capabilities have actually significantly reduced the time and effort needed for payroll processing. Handbook data entry and recurring tasks have actually been minimized, allowing our finance group to concentrate on strategic efforts instead of administrative concerns. This has actually resulted in increased performance and efficiency within our monetary operations.
in one considering that each state has its own policies Californians are some of the most stringent an example is pay slips on a payslip in California the best info has to be on the payslip in the best format and in the right position if you’re in breach of of policies for payslips the fines are provided per payslip so that’s each worker each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to worry to think about and we’re only two concerns in and 10 minutes or two employing in one nation is hard enough but when employing in a you know on a global level it’s a totally various story you require to make certain that you depend on date with present in addition to pending local labor laws Steve um how do you ensure and ensure that the people 2.0 team is on top of an ever-changing landscape and that your customers are completely supported and I’ll arrange this into three crucial things we carry out in primarily you need to have the best group so we employ a team of global experts in Employment Practices um that ex that team of specialists consists of attorneys it includes payroll professionals it consists of HR professionals and these are individuals that not just understand the laws in these in these countries and regions however they likewise understand the languages they know the regional practices they understand the cultures and it is essential to have that best group and genuinely have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies comprehensive real-time analytics and reporting tools. As a CFO, having access to accurate and prompt monetary data is important for decision-making. The platform’s reporting abilities empower me to make educated strategic choices based upon real-time insights into our global payroll data.
application and its scope and the manner in which 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 instruction otherwise known as the 2p policies in the UK the working time regulations which has actually had numerous hairs of that legislation tested particularly around vacation pay and obviously as Kathy’s going to come on to discuss later employment status which there’s been several precedence set throughout the years so I think it’s actually that continuous advancement of the employment law landscape that you actually 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 pointed out each country has various policies however the United States is basically 50 nations
Scalability for Business Growth:
Among the standout functions of Papaya Global is its scalability. As our company continues to grow and broaden into brand-new markets, the software application flawlessly accommodates modifications in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the developing needs of our global company.
International Chief legal officer we’ve 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 state separately and collectively these 3 people have Years of experience in in work law and worldwide Work Practices so thank you it’s a satisfaction to be with everybody here today seems 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 Services at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I have actually been with the business for around four and a half years as head of Partnerships I have actually developed Papaya’s network of in-country Partners in over 160 areas on an individual aspect and related to our subject today I have actually had the opportunity to transfer and work in three different nations it is the business’s duty to guarantee my defense while residing in a foreign country compliance with regional laws and regulations is vital for me or anyone else as an expat or as a regional so today we have actually invited our relied on Partners people 2.0 to demonstrate the significance of regional
expertise when companies Go Worldwide thank you and take pleasure in okay thank you as I stated let’s carry on to the pact program today’s webinar is a chance to ask the panel the questions you have actually been thinking of we’ll go over the facts a business needs to consider when opening a brand-new entity and broadening into new nations along with keeping things going we’ll cover aspects such as regional regulations factors to consider when working with compliance key obstacles payments and what not to do it is among 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 need to comprehend and manage knowing what to do in each new circumstance as it increases is essential on many levels comprehending regional policies and local laws along with business practices assists mitigate Associated and global expansion papaya through our local experts can navigate potential dangers such as copyright security information personal privacy security problems guaranteeing the business’s operations remain certified and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has proven to be an invaluable asset in our mission for efficient and certified global payroll management. As the CFO of an international company, I am confident in suggesting Papaya Global to companies seeking to improve their payroll procedures, boost compliance, and accomplish higher performance in handling their international workforce. The software application’s ingenious functions and commitment to excellence line up with our tactical goals, making it an integral part of our financial operations.
I find time and time again the workers frequently misclassified unconsciously they do not comprehend the conditions of employment or contract and are told by the client why it’s most advantageous generally to the customer why you ought to be used or participated in this fashion the worker might owe taxes and Social Security to the authorities the future pension and health care privileges of the employee can be affected and numerous times it can be years before this all falls out and by that time it’s too late years have passed they have not added to pensions And so on so it’s a big effect that they never ever understood they were walking into you couldn’t agree with you more if you say the UK for instance hmrc can go back as much as 10 years um Kathy business are securing insurance versus misclassification however typically premiums are only covering the expense of legal costs whilst the typical claim assessed against employers relates to to 40 or 50 percent of the base pay of employee is there any point in securing insurance coverage and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes charge and interest most of the times I haven’t seen it at least so uh the the other location that I do think if you managed to get the protection what we are stating is is that if your compliance program is not up to pack you could be denied coverage on the basis of the fact that you were not in compliance with laws um in the UK
Cost Considerations and Is Papaya Global Easy To Use …
The comprehensive features of come at an expense,
Over the past few years, the workforce has gone through a significant transformation with the introduction of remote work, which has gotten rid of geographical restrictions on hiring. This has made it possible for services to recruit skill from all over the world, allowing them to put together the best possible group for each role. As a result, workers have actually gotten higher flexibility to work from home and increase their profits without having to relocate to pricey locations or commute cross countries. According to a 2022 survey, 87% of employees who have the choice to work from another location pick to do so. The COVID-19 pandemic, combined with advancements in enterprise connectivity software, has actually further accelerated the shift towards remote work, even in industries that were at first hesitant to adopt the trend.
insights are valuable to us and and your fellow guests so first things initially though um let’s be familiar with everybody my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had roles in all kind of Industries retail and Appeal to Aerospace in all types of companies start-up to matrixed environments across the globe I supplied leadership and method to populations of more than 100,000 staff members on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across the business guy maning and developing external relationships supporting Business customers and services and serving as a consultant I ‘d like to present our very first Greg um guest Greg who will kick things off by informing 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 internal legal group and in fact work extremely closely with our um HR department as well to manage numerous legal and HR matters that show up so really excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our objective is to set you as HR specialists totally free to do fantastic
Although Papaya Global provides integrations with different HR and finance systems, we encountered some obstacles during the combination procedure. Personalizing the software application to line up with our existing facilities showed to be more complicated than anticipated, leading to delays in the preliminary rollout.
The extensive functions offered by Papaya Global come at a cost, which some of our smaller sized subsidiaries discovered to be prohibitively expensive. As a global company, we needed to thoroughly weigh the need for sophisticated performance versus budget plan restrictions.
Support Response Time:
On occasion, our teams experienced concerns that needed immediate help. However, the action time from Papaya Global’s consumer assistance group was not constantly as prompt as we would have liked, leading to delays in resolving those issues.
Our implementation of included a phased technique. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This enabled us to identify and address integration obstacles early on. As the software became more implanted in our operations, we gradually expanded its use to cover our entire global labor force.
The automated functions streamlined our payroll processes, minimizing the time invested in manual computations and compliance tracking. Routine training sessions and continuous support from Papaya assisted our groups end up being competent users of the software application, optimizing its potential for our company.
Companies that staff member workers across numerous nations typically deal with detailed challenges when it pertains to managing their workforce. One of the most significant difficulties is consolidating various data streams and adhering to diverse local and national labor guidelines, which can be both lengthy and pricey. Furthermore, establishing local entities in new regions can be an expensive and suboptimal choice, with options such as opening a foreign subsidiary or working with an expert work organization (PEO) typically charging up to 15% of the payroll. These difficulties have actually led to a significant increase in problem hiring certified personnel, with 75% of companies reporting this problem in 2022, a 21% increase 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 service supporting all kinds of employment. It provides an end-to-end platform, from worker onboarding and ongoing management to international payments and. It assists companies with labor law compliance in the jurisdictions in which they run, uses management of work advantages, and ensures information 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 global.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to attend 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 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 presentation hello and thank you for joining us today we’re enjoyed have you here as we start a journey of information to regulation accomplishing
360 degree worker compliance where we’ll dive into the essential elements of the staff member compliance management model throughout the session we’ll explore real world difficulties genuine regional policies best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to secure your company and employees while staying certified in an
Ever evolving regulatory environment in the everchanging world of business and finance guaranteeing compliance with payroll guidelines is not just crucial but also a legal imperative from the moment of working with to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance dangers that have significant consequences nevertheless with a much deeper more nuanced understanding of their responsibilities organizations can not only browse the complex landscape but also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools required to navigate the complex Terrain of compliance whether you’re a skilled P professional a small company 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 improve efficiency and accuracy in managing our global workforce, our international corporation turned to, a leading and labor force management software. The shift intended to simplify the complex task of handling across various nations, currencies, and compliance guidelines.
Among the standout functions of is its robust compliance management system. The software application automatically updates itself to stick to ever-evolving tax and labor laws throughout multiple jurisdictions. This has been vital in ensuring that our procedures remain certified in each country of operation.
is to state that the material here is not legal recommendations it is just for your information please consult your legal team must you have any concerns or concerns in relation to anything that we’ve 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 familiarize ourselves with the webinar platform once again as we’ve.
function as your hris or is type of your core worker record um to handle that worker life process throughout their Journey with you as as a staff member in addition to a payroll module we have to help you pay those staff members and compensate them and benefits Administration module that permits you to help handle the benefits you supply to your workers so actually thrilled to be here represent um bamb booy jar and speak about 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 sort of compliance so happy to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to present yourself and inform the audience a little bit about papay international yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment specialist supervisor.
at I manage the work Council in the US APAC EMA and Israel area I also act as us Council for I’m licensed in New york city and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and labor force management as a Service work force provider to workers serving in over.
160 countries alright thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the introduction so it’s truly truly great to in fact see in the webinar chat where everybody’s really participating in from today I can see that we have people in Las Vegas and Indiana currently so if you wish to carry on tell where you are that would be definitely fantastic whilst we simply wait on everyone else to sort of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting for everyone to kind of join I’ll simply run us through the agenda um today we are going to go over hiring Talent new greater Information Management termination compliance and automation wow the chat has actually got really really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is fantastic so uh I’m hoping that we’re really going to have some truly excellent commentary and concerns throughout the uh the webinar too fine 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 Is Papaya Global Easy To Use complex without fail and an.
Ever evolving relationship that starts the minute an individual signs up with an organization it continues throughout their work and Beyond this journey can be divided into k to a number of key stages whilst we’re really you know that they’re utilized with us so on boarding daily operations payment 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 organizations are accountable for collecting saving protecting employee data in compliance with data personal privacy regulations no matter where it is you’re running around the world it typically involves carrying out safe data management systems and making sure stringent adherence to regional requirements to protect both the worker and the company the advancement of employee information and management c.