A CFO’s Point of view on Karen Papaya Global Portsmouth…
The platform allows business to manage their international workforce and abide by local work regulations and tax laws. Papaya Global provides a series of services, including payroll management, advantages administration, compliance management, time and participation tracking, and HR management. The platform is designed to simplify the complexities of international payroll and provide real-time visibility and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the vibrant landscape of worldwide organization operations, handling payroll across borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a worldwide company, I understand the critical value of efficient and certified payroll management. In our pursuit of excellence, we have accepted ingenious solutions to improve our processes, and one such transformative tool is Software.
The Obstacle of International Payroll:
Global expansion brings about varied obstacles, and payroll management is no exception. Differing tax regulations, differing employment laws, and numerous currencies make it important for organizations to adopt advanced solutions to make sure accuracy, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Service:
It is crucial to consider and consist of post-termination limitations in the employment agreement to make sure enforceability. You must thoroughly identify what you are seeking to safeguard and clearly 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 intellectual property. The guidelines relating to intellectual property differ depending on the kind of IP and the jurisdiction. For example, in the Netherlands, the end client is likely to have copyright rights over works produced by employees under their supervision, while in Poland, contractual assignment may be required.
Papaya Global Software has actually become a game-changer in the realm of international payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, user-friendly user interface. As the CFO, I have actually witnessed firsthand the favorable impact of on our organization’s monetary operations.
Unified Worldwide Payroll Processing:
allows our business to process payroll effortlessly across several nations. The platform’s unified approach permits constant payroll calculations, lowering mistakes and making sure compliance with regional guidelines. This has substantially mitigated the threats associated with international payroll processing.
also essential for if later somebody states misclassification you have your file supported by the requisite documents and that the right assessment tools to reveal someone that you had a thoughtful process and so what do you need to include in that process it’s the who the what the where and the when who are you handling are you handling a specific or are you dealing with a personal Service Corporation and how are they running what are they doing is it the type of work that lends itself more to being an independent specialist than a worker so for example 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 website and managed once again another essential aspect is the management and guidance of the uh worker and after that lastly when is it a particular job is it a six-month job 6 years all of this is workable however it needs to be documented and it needs to be thoroughly um examined 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 internationally these tools take a questionnaire list for the employee the employee submits and fills these concerns out therefore does completion client or the recipient of the services they both put their information into the tool and after that it does an assessment waiting the different concerns due to the fact that not every jurisdiction has the very same feeling about a few of these questions some believe they’re more important than others and it brings out 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 a few of the things you require to strengthen to ensure that you are given that assessment of uh independent specialist or green where you were assessed as an as a independent specialist once that examination is done all the requisite files are underneath it so that if in the future there
Browsing the intricacies of worldwide work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our company up-to-date with modifications in guidelines throughout jurisdictions. This guarantees that our payroll procedures abide by the current standards, minimizing the risk of non-compliance and associated charges.
Karen Papaya Global Portsmouth and Time Cost Savings:
The software application’s automation abilities have actually considerably lowered the time and effort required for payroll processing. Manual data entry and repeated tasks have actually been reduced, enabling our finance team to concentrate on tactical efforts rather than administrative concerns. This has resulted in increased performance and efficiency within our monetary operations.
in one given that each state has its own guidelines Californians are some of the most stringent an example is pay slips on a payslip in California the best details has to be on the payslip in the right format and in the ideal position if you remain in breach of of regulations for payslips the fines are released per payslip so that’s each worker each pay slip will incur a great thanks Ray thank you Elizabeth a lot to fret to think about and we’re only two concerns in and 10 minutes or so working with in one country is difficult enough however when hiring in a you understand on an international level it’s an entirely different story you need to make certain that you depend on date with current as well as pending regional labor laws Steve um how do you make sure and ensure that individuals 2.0 team is on top of an ever-changing landscape and that your clients are totally supported and I’ll arrange this into 3 essential things we do in first and foremost you need to have the best team so we hire a team of global specialists in Work Practices um that ex that group of specialists consists of attorneys it includes payroll experts it consists of HR professionals and these are people that not just know the laws in these in these countries and areas however they likewise know the languages they understand the local practices they know the cultures and it is necessary to have that ideal team and really have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to accurate and prompt monetary data is crucial for decision-making. The platform’s reporting capabilities empower me to make informed tactical choices based on real-time insights into our international payroll information.
application and its scope and the manner in which it applies to work law in practice can be checked through the judicial system by way of case law examples of that would be the gotten rights directive otherwise called the 2p policies in the UK the working time regulations which has had various strands of that legislation checked particularly around vacation pay and naturally as Kathy’s going to come on to talk about later employment status which there’s been multiple precedence set over the years so I think it’s actually that constant development of the employment law landscape that you truly require to browse when when operating in Europe all right thank you Elizabeth Ray what about you from your individual experience while crossing the pond as mentioned each nation has various regulations however the United States is basically 50 nations
Scalability for Business Development:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and broaden into new markets, the software application seamlessly accommodates modifications in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the progressing needs of our international company.
International Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Gander who is our senior vice president of client services and I would say individually and collectively these 3 individuals have Years of experience in in employment law and international Employment Practices so thank you it’s a pleasure to be with everybody 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 Provider at papaya Worldwide tell us about yourself thank you Elin Ian hi my name is Elite I have actually been with the company for around 4 and a half years as head of Partnerships I have actually established Papaya’s network of in-country Partners in over 160 places on an individual aspect and related to our subject today I have actually had the opportunity to transfer and operate in three various nations it is the company’s obligation to guarantee my defense while living in a foreign nation compliance with local laws and regulations is vital for me or anybody else as an expat or as a regional so today we have welcomed our relied on Partners individuals 2.0 to demonstrate the importance of local
know-how when companies Go Global thank you and enjoy okay thank you as I said let’s carry on to the pact agenda today’s webinar is a chance to ask the panel the concerns you have actually been thinking of we’ll talk about the realities a business needs to consider when opening a new entity and broadening into new countries as well as keeping things going we’ll cover aspects such as local guidelines factors to consider when working with compliance key challenges payments and what not to do it is among the most essential things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a company grows the more they need to understand and handle understanding what to do in each new circumstance as it increases is important on lots of levels comprehending local policies and local laws in addition to organization practices assists alleviate Associated and international growth papaya through our local professionals can browse possible dangers such as intellectual property protection data privacy security issues ensuring the company’s operations remain certified and safe and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has proven to be a vital 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 procedures, boost compliance, and achieve greater efficiency in managing their global workforce. The software application’s innovative functions and commitment to quality line up with our tactical goals, making it an important part of our financial operations.
I find time and time again the employees often misclassified unconsciously they do not comprehend the conditions of work or agreement and are told by the client why it’s optimum generally to the customer why you ought to be utilized or taken part in this style the employee might owe taxes and Social Security to the authorities the future pension and health care privileges of the employee can be affected 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 gone by they haven’t added to pensions And so on so it’s a big impact that they never ever knew they were walking into you couldn’t agree with you more if you state the UK for example hmrc can return as much as ten years um Kathy companies are getting insurance against misclassification but normally premiums are just covering the expense of legal charges whilst the typical claim examined versus companies relates to to 40 or 50 percent of the base pay of worker is there any point in getting insurance 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 haven’t seen it a minimum of so uh the the other location that I do think if you managed to get the coverage what we are stating is is that if your compliance program is not up to pack you could be rejected coverage on the basis of the truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Karen Papaya Global Portsmouth …
The detailed functions of come at an expense,
Over the past few decades, the labor force has undergone a considerable change with the development of remote work, which has actually removed geographical constraints on hiring. This has enabled organizations to recruit talent from all over the world, enabling them to assemble the very best possible team for each role. As a result, employees have acquired higher flexibility to work from home and increase their incomes without needing to relocate to pricey locations or commute fars away. According to a 2022 study, 87% of staff members who have the option to work remotely pick to do so. The COVID-19 pandemic, combined with improvements in enterprise connectivity software application, has actually even more sped up the shift towards remote work, even in industries that were initially reluctant to embrace the trend.
insights are important to us and and your fellow attendees 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 type of Industries retail and Beauty to Aerospace in all kinds of services start-up to matrixed environments across the globe I provided leadership and technique to populations of more than 100,000 staff members on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work throughout business guy maning and constructing external relationships supporting Business clients and options and serving as an advisor I want to present our first Greg um guest 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 stated my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal group and really work really closely with our um HR department as well to handle numerous legal and HR matters that come up so really thrilled to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our mission is to set you as HR experts free to do excellent
Although Papaya Global supplies combinations with various HR and finance systems, we experienced some difficulties during the combination process. Tailoring the software application to line up with our existing facilities showed to be more complex than expected, leading to hold-ups in the initial rollout.
The comprehensive functions provided by Papaya Global come at a cost, which some of our smaller subsidiaries discovered to be prohibitively costly. As an international organization, we needed to carefully weigh the need for innovative performance against budget constraints.
Support Reaction Time:
On occasion, our groups experienced concerns that required urgent support. However, the response time from Papaya Global’s client support group was not always as prompt as we would have liked, resulting in delays in dealing with those issues.
Our execution of included a phased method. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This permitted us to determine and attend to combination obstacles early on. As the software application became more implanted in our operations, we slowly broadened its use to cover our entire worldwide labor force.
The automated features structured our payroll processes, decreasing the time spent on manual calculations and compliance tracking. Routine training sessions and continuous support from Papaya assisted our groups become competent users of the software, optimizing its capacity for our company.
However, paying a workforce can be complex. It is especially challenging for companies who use personnel across numerous countries, as they need to constantly combine different data streams, by hand track local and national labor and regulations, and invest valuable time and resources to set up local entities in brand-new areas. These business are confronted with suboptimal, expensive alternatives, like opening a foreign subsidiary or employing a professional employment company, which is a local company that employs employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty hiring 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.
offers a solution supporting all kinds of work. It offers an end-to-end platform, from worker onboarding and ongoing management to global payments and. It assists business with labor law compliance in the jurisdictions in which they operate, provides management of work benefits, and makes sure information 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 labor force management. She co-founded after seeing the technology gap in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to attend the complete webcast in order to get your credits if you have any questions throughout the webcast please click the Q&A tab in your webinar controls and type the there a brand-new tab will open in your internet browser with the webcast survey please make certain to finish it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hi and thank you for joining us today we’re thrilled to have you here as we start a journey of information to regulation attaining
360 degree employee compliance where we’ll dive into the necessary aspects of the employee compliance management model throughout the session we’ll check out real life difficulties real local guidelines best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to protect your company and staff members while remaining certified in an
Ever developing regulatory environment in the everchanging world of service and finance ensuring compliance with payroll policies is not only vital but likewise a legal essential from the moment of employing to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance dangers that have far-reaching effects nevertheless with a much deeper more nuanced understanding of their obligations companies can not just browse the detailed landscape however also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to browse the complex Surface of compliance whether you’re a skilled P specialist a small company owner or someone brand-new to the field what I would like to do before we begin and I believe it’s really important
In our quest to improve efficiency and accuracy in handling our worldwide labor force, our international corporation turned to, a leading and workforce management software application. The transition intended to simplify the complex task of managing across various nations, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software automatically updates itself to abide by ever-evolving tax and labor laws throughout numerous jurisdictions. This has been vital in ensuring that our processes remain certified in each country of operation.
is to state that the content here is illegal advice it is merely for your info please consult your legal team ought to you have any concerns or issues in relation to anything that we’ve talked about today our key take essential takeaways by the end of the webinar will be an understanding of employee compliance risks how to employ ly with self-confidence how to simplify data management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.
act as your hris or is sort of your core staff member record um to handle that worker life process throughout their Journey with you as as an employee in addition to a payroll module we need to help you pay those employees and compensate them and advantages Administration module that allows you to help manage the benefits you provide to your employees so actually delighted to be here represent um bamb booy jar and talk about this subject um and I guess from my perspective I’ll I’ll probably supply a lot of a concentrate on the US side of things when we speak about type of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to present yourself and tell the audience a little bit about papay worldwide yes absolutely thank you Ian hi everybody I’m Gina dorelis I’m the Work professional supervisor.
at I manage the work Council in the US APAC EMA and Israel region I likewise serve as us Council for I’m accredited in New York and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service work force service provider to workers serving in over.
160 nations all right thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the introduction so it’s actually actually nice to actually see in the webinar chat where everyone’s in fact going to from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to continue tell where you are that would be absolutely great whilst we simply await everyone else to sort of like participate there we go Chicago also well um so whil we’re doing that I’m waiting for everyone to sort of join I’ll simply run us through the agenda um today we are going to discuss working with Skill brand-new greater Information Management termination compliance and automation wow the chat has actually got actually truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is fantastic so uh I’m hoping that we’re really going to have some actually fantastic commentary and questions throughout the uh the webinar too all right 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 staff member and their information is Karen Papaya Global Portsmouth diverse without fail and an.
Ever evolving relationship that starts the minute a person signs up with a company it continues throughout their work and Beyond this journey can be divided into k to a number of essential stages whilst we’re really you understand that they’re utilized with us so on boarding everyday operations settlement and advantages professional development then we get to the offboarding and even advocacy so it even happens after the worker has left your work throughout the journey organizations are accountable for collecting saving securing staff member information in compliance with information personal privacy policies no matter where it is you’re running around the globe it frequently involves carrying out safe and secure information management systems and ensuring rigorous adherence to local requirements to safeguard both the employee and the organization the advancement of staff member data and management c.