A CFO’s Viewpoint on Jamie Wheeler Papaya Global…
Papaya Global’s platform simplifies worldwide workforce management for companies, ensuring compliance with regional policies and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and attendance tracking, and HR assistance. The platform centralizes global payroll operations, offering companies with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of global company operations, handling payroll throughout borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a global business, I comprehend the vital importance of efficient and certified payroll management. In our pursuit of excellence, we have actually welcomed innovative solutions to simplify our processes, and one such transformative tool is Software.
The Challenge of International Payroll:
Worldwide expansion causes diverse obstacles, and payroll management is no exception. Differing tax policies, varying employment laws, and several currencies make it imperative for companies to embrace sophisticated services to ensure accuracy, compliance, and efficiency in payroll processing.
Software: A Comprehensive Service:
It is essential to consider and include post-termination limitations in the employment contract to guarantee enforceability. You must thoroughly determine what you are looking for to safeguard and plainly specify the secret information that falls within its scope. Furthermore, specify the period of the post-termination constraint and be prepared to justify it in relation to copyright. The rules concerning intellectual property vary depending on the type of IP and the jurisdiction. For instance, in the Netherlands, the end client is likely to have copyright rights over works produced by workers under their guidance, while in Poland, contractual project may be needed.
Papaya Global Software has actually emerged as a game-changer in the realm of global payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, user-friendly user interface. As the CFO, I have seen firsthand the positive effect of on our company’s financial operations.
Unified International Payroll Processing:
allows our business to process payroll seamlessly throughout numerous nations. The platform’s unified approach allows for constant payroll calculations, decreasing errors and guaranteeing compliance with local regulations. This has considerably mitigated the risks related to worldwide payroll processing.
also key for if in the future somebody states misclassification you have your file supported by the requisite files which the right examination tools to show someone that you had a thoughtful procedure therefore what do you need to consist of 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 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 engineering the creatives these all lend themselves more to that assessment of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they have to be on site and handled once again another essential element is the management and guidance of the uh worker and then lastly when is it a particular job is it a six-month project six years all of this is workable but it has to be recorded and it has 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 completes and fills these questions out and so does the end customer or the recipient of the services they both put their info into the tool and after that it does an evaluation waiting the various questions because not every jurisdiction has the exact same feeling about some of these questions some think they’re more important 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 help you with that in regards to some of the important things you require to bolster to ensure that you are considered that evaluation of uh independent professional or green where you were assessed as an as a independent professional once that evaluation is done all the requisite files are beneath it so that if later on there
Browsing the intricacies of global employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in policies across jurisdictions. This ensures that our payroll processes adhere to the latest requirements, reducing the threat of non-compliance and associated penalties.
network of In-House outside advisors accounting companies and legal firms who assist us keep our databases totally as much as date and we also contact we require to when we see an unusual or or especially complex circumstances okay thanks Steve I can simply see a fast concern in the Q a window yes the session will be taped and sent to guests later on um moving back to to the webinar itself Ray company of record is regulated differently around the globe and the German law for instance it’s classified as worker leasing can you shed any light on a few of the special factors to consider for nations and where the eor design isn’t controlled yes Ian employee leasing or labor leasing as it’s also called which prevails in several nations especially in Europe imposes strict guidelines on items such as the length of task it likewise designates employees to collective bargaining agreements that gives them rights and advantages but even in the countries that don’t have those stringent policies for example the UK Canada and the nordics there are policies for each country and each worker is dealt with the same as all the other workers because nation and all those guidelines require to be followed alright thank you Ray um Kathy moving I would say to yourself what do business require to factor in when identifying agreement status to protect themselves and the rights of hires what are the pros and cons of employing specialists and Freelancers versus long-term workers so obviously the the advantage of contractors versus employees is the the versatility for both the employee and for the employer um but I can’t worry enough how important it is to have a consistent extensive and a well-documented compliance
Jamie Wheeler Papaya Global and Time Cost Savings:
The software application’s automation abilities have substantially lowered the time and effort needed for payroll processing. Handbook information entry and recurring jobs have been lessened, enabling our finance team to focus on tactical initiatives instead of administrative concerns. This has actually resulted in increased efficiency and productivity within our monetary operations.
in one because each state has its own policies Californians are some of the most strict an example is pay slips on a payslip in California the best information has to be on the payslip in the right format and in the ideal position if you remain in breach of of guidelines for payslips the fines are provided per payslip so that’s each worker each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to fret to think of and we’re just two questions in and 10 minutes approximately working with in one country is tough enough but when hiring in a you know on an international level it’s a completely various story you need to make certain that you’re up to date with present in addition to pending regional labor laws Steve um how do you make sure and guarantee that the people 2.0 team is on top of an ever-changing landscape which your customers are totally supported and I’ll organize this into 3 essential things we perform in primarily you need to have the ideal group so we employ a group of global experts in Work Practices um that ex that team of professionals consists of legal representatives it consists of payroll experts it includes HR experts and these are individuals that not only understand the laws in these in these countries and areas but they likewise know the languages they understand the regional practices they understand the cultures and it’s important to have that ideal team and truly have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies thorough real-time analytics and reporting tools. As a CFO, having access to precise and prompt financial information is essential for decision-making. The platform’s reporting capabilities empower me to make educated strategic choices based on real-time insights into our global payroll data.
application and its scope and the way that it applies to employment law in practice can be checked through the judicial system by way of case law examples of that would be the gotten rights regulation otherwise referred to as the 2p regulations in the UK the working time policies which has actually had numerous strands of that legislation tested especially around holiday pay and obviously as Kathy’s going to come on to talk about later on work status which there’s been numerous precedence set over the years so I believe it’s truly that continuous development of the employment law landscape that you truly require to browse when when working in Europe fine thank you Elizabeth Ray what about you from your personal experience while crossing the pond as pointed out each country has various policies but the United States is essentially 50 countries
Scalability for Organization Growth:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software application flawlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll facilities can adjust to the progressing requirements of our worldwide organization.
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 client services and I would state separately and collectively these three individuals have Years of experience in in employment law and worldwide Employment Practices so thank you it’s an enjoyment 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 Worldwide tell us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business for around 4 and a half years as head of Partnerships I have developed Papaya’s network of in-country Partners in over 160 areas on a personal aspect and related to our subject today I have actually had the chance to relocate and operate in 3 various countries it is the business’s obligation to guarantee my security while living in a foreign country compliance with regional laws and policies is essential for me or anybody else as an expat or as a local so today we have invited our relied on Partners people 2.0 to demonstrate the importance of regional
proficiency when companies Go Worldwide thank you and delight in fine 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 have actually been thinking of we’ll talk about the facts a business 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 regional guidelines considerations when employing 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 larger a company grows the more they need to comprehend and manage knowing what to do in each new situation as it rises is essential on many levels understanding local guidelines and regional laws as well as business practices helps reduce Associated and international growth papaya through our local professionals can browse prospective risks such as copyright defense information personal privacy security issues ensuring the company’s operations stay certified and protected tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually shown to be a vital asset in our quest for efficient and compliant global payroll management. As the CFO of an international business, I am confident in suggesting Papaya Global to companies seeking to simplify their payroll processes, improve compliance, and achieve greater effectiveness in managing their international labor force. The software application’s innovative features and commitment to quality line up with our strategic objectives, making it an integral part of our monetary operations.
publicly announced and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly revealed settlements there’s also significant legal costs there exists’s other charges there’s other expenses behind that also so the overall expense can be really significant in the tens of millions of dollars or more and and those quantities are growing uh the reason that companies are getting it so incorrect is really simply the rules are complicated and they’re altering all the time think ir-35 in the UK which has actually been a continuous development for several years now and and still a great deal of uncertainty among companies on what it truly implies and how you deal with it most companies are simply not familiar with the guidelines and and act as if the the guidelines are the same everywhere which they’re not so so encourage you to to be very 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 only the business that suffers in the long run what effects can this have on the worker Jamie Wheeler Papaya Global especially when it concerns their own tax liabilities social security and advantages for instance jury and clearly the employees the other side of the coin
I discover time and time again the employees typically misclassified unconsciously they don’t understand the conditions of work or contract and are informed by the client why it’s most advantageous mainly to the customer why you should be utilized or taken part in this style the worker may owe taxes and Social Security to the authorities the future pension and health care privileges of the worker can be impacted and a number of 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 contributed 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 example hmrc can return as much as ten years um Kathy business are taking out insurance coverage against misclassification however typically premiums are only covering the cost of legal charges whilst the average claim assessed against companies corresponds to to 40 or 50 percent of the base salary of employee is there any point in taking out insurance 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 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 reality that you were not in compliance with laws um in the UK
Cost Factors to consider and Jamie Wheeler Papaya Global …
The detailed functions of come at a cost,
Current decades have actually seen a dramatic change to the workforce as the increase of remote work has broken down geographical barriers to hiring. Organizations can now hire staff from anywhere worldwide, allowing them to access the very best readily available skill for any given function. This offers workers more liberty to work from home and increase their earnings without transferring to costly locations or commuting cross countries. A 2022 study found that 87% of staff members who have the chance to work remotely take that opportunity. The outbreak of COVID-19, in conjunction with new enterprise connectivity software application, sped up the transfer to remote work, including in industries previously reluctant to accept the pattern.
insights are valuable to us and and your fellow attendees so first things first though um let’s get to know everybody my name is Ian Charles and I have actually operated in payroll for the last 25 years I have actually had functions in all type of Industries retail and Appeal to Aerospace in all kinds of organizations startup to matrixed environments around the world I offered leadership and technique to populations of more than 100,000 workers on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
International I work throughout business guy maning and building external relationships supporting Business customers and solutions and functioning as a consultant I ‘d like to present our first Greg um guest Greg who will kick things off by telling us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal group and in fact work really closely with our um HR department too to manage various legal and HR matters that show up so truly delighted 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 experts complimentary to do great
While Papaya Global deals combinations with various HR and finance systems, the implementation process was not without difficulties. Integrating the software with our existing facilities needed extra personalization, leading to some hold-ups in the preliminary rollout.
Paying FAQs Jamie Wheeler Papaya Global 2024
and some smaller sized subsidiaries within our organization found the pricing to be on the greater side. As a global business, balancing the requirement for sophisticated functions with spending plan restraints became a fragile workout.
Client Support Reaction Time:
There were circumstances where our teams dealt with concerns that needed prompt support. Nevertheless, the action time from’s client assistance group was not constantly as fast as wanted, causing occasional hold-ups in issue 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 identify and resolve combination difficulties early on. As the software application ended up being more instilled in our operations, we slowly expanded its usage to cover our entire international labor force.
The automated features streamlined our payroll procedures, decreasing the time invested in manual calculations and compliance tracking. Regular training sessions and continuous assistance from Papaya assisted our groups end up being proficient users of the software application, maximizing its potential for our organization.
However, paying a labor force can be complex. It is particularly challenging for business who employ staff throughout numerous nations, as they should continuously consolidate different data streams, manually track regional 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, costly alternatives, like opening a foreign subsidiary or working with a professional employment company, which is a local company that employs staff members on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble recruiting certified 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.
provides a solution supporting all kinds of employment. It supplies an end-to-end platform, from staff member onboarding and ongoing management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they operate, offers management of work benefits, and makes sure information 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 labor force management. She co-founded after seeing the innovation gap in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to go to the total 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 web browser with the webcast study please make sure to complete it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hi and thank you for joining us today we’re enjoyed have you here as we embark on a journey of data to guideline attaining
360 degree staff member compliance where we’ll dive into the vital elements of the employee compliance management design throughout the session we’ll explore real world challenges real local regulations finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to safeguard your organization and employees while remaining certified in an
Ever developing regulatory environment in the everchanging world of company and finance guaranteeing compliance with payroll guidelines is not just vital however likewise a legal necessary from the moment of hiring to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance risks that have far-reaching repercussions however with a much deeper more nuanced understanding of their commitments organizations can not just browse the elaborate landscape however also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools necessary to navigate the complex Terrain of compliance whether you’re an experienced P specialist a small business owner or somebody new to the field what I want to do before we start and I think it’s actually important
In our mission to boost performance and precision in handling our global labor force, our multinational corporation turned to, a leading and labor force management software application. The shift aimed to streamline the complex task of handling across different countries, currencies, and compliance regulations.
One of the standout functions of is its robust compliance management system. The software automatically updates itself to adhere to ever-evolving tax and labor laws across numerous jurisdictions. This has been invaluable in making sure that our procedures stay compliant in each nation of operation.
is to state that the material here is not legal guidance it is simply for your information please consult your legal team needs to you have any questions or concerns in relation to anything that we’ve gone over today our key 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 have actually.
act as your hris or is type of your core staff member record um to manage that staff member life cycle throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those employees and compensate them and advantages Administration module that allows you to assist manage the advantages you offer to your workers so actually delighted to be here represent um bamb booy jar and speak about this subject um and I think from my point of view I’ll I’ll most likely supply a lot of a concentrate on the US side of things when we talk about kind of compliance so happy to be here thanks for having me Ian okay 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 everyone I’m Gina dorelis I’m the Employment specialist supervisor.
at I manage the work Council in the United States APAC EMA and Israel area I likewise act as us Council for I’m licensed in New york city and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and workforce management as a Service labor force service provider to workers serving in over.
160 countries fine thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were type of like going through the introduction so it’s truly actually great to actually see in the webinar chat where everyone’s in fact participating in from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to carry on tell where you are that would be absolutely great whilst we simply await everybody 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 simply run us through the agenda um today we are going to go over working with Skill new greater 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 everywhere which is great so uh I’m hoping that we’re really going to have some really terrific commentary and questions 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 Privacy side of things so the the Journey of a worker and their information is Jamie Wheeler Papaya Global multifaceted 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 several crucial stages whilst we’re actually you understand that they’re used with us so on boarding everyday operations settlement and advantages professional advancement then we get to the offboarding and even advocacy so it even takes place after the staff member has actually left your work throughout the journey organizations are accountable for gathering keeping safeguarding employee information in compliance with data privacy guidelines no matter where it is you’re operating around the globe it often involves executing protected information management systems and ensuring rigorous adherence to regional requirements to protect both the employee and the company the evolution of worker information and management c.