A CFO’s Perspective on Papaya Global And Hr Software…
The platform enables companies to handle their international workforce and adhere to local work policies and tax laws. Papaya Global provides a variety of services, including payroll management, advantages administration, compliance management, time and attendance tracking, and HR management. The platform is developed to streamline the complexities of worldwide payroll and offer real-time presence and control over payroll operations. The company 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 company operations, handling payroll throughout borders can be a complex and tough job. As the Chief Financial Officer (CFO) of an international business, I comprehend the vital value of efficient and certified payroll management. In our pursuit of quality, we have welcomed innovative solutions to simplify our processes, and one such transformative tool is Software application.
The Challenge of International Payroll:
Worldwide expansion causes diverse challenges, and payroll management is no exception. Differing tax regulations, differing employment laws, and several currencies make it important for organizations to adopt advanced solutions to make sure precision, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Option:
It is important to think about and include post-termination limitations in the employment agreement to make sure enforceability. You need to thoroughly determine what you are looking for to protect and clearly define the secret information that falls within its scope. Furthermore, define the duration of the post-termination constraint and be prepared to justify it in relation to intellectual property. The guidelines relating to copyright vary depending on the type of IP and the jurisdiction. For example, in the Netherlands, the end client is most likely to have copyright rights over works produced by employees under their guidance, while in Poland, legal task might be required.
Papaya Global Software has actually become a game-changer in the realm of worldwide payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually experienced firsthand the favorable impact of on our company’s financial operations.
Unified Global Payroll Processing:
enables our business to process payroll effortlessly throughout several countries. The platform’s unified method allows for consistent payroll estimations, decreasing errors and making sure compliance with regional policies. This has actually considerably reduced the dangers connected with worldwide payroll processing.
likewise key for if later on somebody says misclassification you have your file supported by the requisite documents which the right evaluation tools to show someone that you had a thoughtful process and so what do you have to include because procedure 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 a personal 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 crafting the creatives these all lend themselves more to that examination 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 key aspect is the management and guidance of the uh employee and after that lastly when is it a particular project is it a six-month task six years all of this is manageable however it needs to be recorded and it has to be completely um examined so we have a tool we call it ic2 we had an ic1 and we have actually improved it this year so that we can roll it out internationally these tools take a questionnaire list for the worker the worker completes 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 after that it does an examination waiting the different questions because not every jurisdiction has the very same sensation about some of these concerns some believe they’re more important than others and it brings out a red yellow or green red you’re most likely a worker yellow you’re on the cusp we can probably assist you with that in regards to some of the important things you require to reinforce to make certain that you are considered that evaluation of uh independent professional or green where you were examined as an as a independent specialist once that evaluation is done all the requisite files are below it so that if later there
Browsing the intricacies of global employment laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our company current with changes in policies throughout jurisdictions. This makes sure that our payroll procedures follow the current requirements, decreasing the threat of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal companies who help us keep our databases completely approximately date and we also contact we need to when we see an unusual or or particularly complicated scenarios all right thanks Steve I can just see a quick concern in the Q a window yes the session will be recorded and sent to guests afterwards um returning to to the webinar itself Ray company of record is managed differently around the globe and the German law for example it’s classified as staff member leasing can you shed any light on some of the unique considerations for nations and where the eor model isn’t managed yes Ian staff member leasing or labor leasing as it’s likewise called which is prevalent in numerous countries especially in Europe enforces strict guidelines on products such as the length of assignment it also designates workers to collective bargaining contracts that gives them rights and benefits however even in the nations that don’t have those strict regulations for example the UK Canada and the nordics there are policies for each nation and each worker is dealt with the like all the other workers in that country and all those regulations need to be abided by okay thank you Ray um Kathy moving I would state to yourself what do companies need to factor in when identifying contract status to protect themselves and the rights of hires what are the advantages and disadvantages of working with contractors and Freelancers versus permanent employees so obviously the the benefit of professionals versus staff members is the the flexibility for both the worker and for the employer um but I can’t stress enough how crucial it is to have a consistent thorough and a well-documented compliance
Papaya Global And Hr Software and Time Cost Savings:
The software’s automation capabilities have significantly lowered the time and effort needed for payroll processing. Manual data entry and recurring tasks have actually been reduced, allowing our financing group to focus on tactical efforts rather than administrative burdens. This has resulted in increased efficiency and productivity within our financial operations.
in one because each state has its own policies Californians are some of the most rigorous an example is pay slips on a payslip in California the ideal information 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 employee each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to worry to think about and we’re only two questions in and 10 minutes approximately hiring in one country is tough enough however when employing in a you know on an international level it’s an entirely different story you require to make sure that you depend on date with existing 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 fully supported and I’ll arrange this into three crucial things we perform in most importantly you require to have the best group so we hire a group of international professionals in Work Practices um that ex that group of experts consists of legal representatives it includes payroll professionals it consists of HR experts and these are people that not just understand the laws in these in these countries and regions but they likewise understand the languages they understand the regional practices they understand the cultures and it’s important to have that right team and really have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides extensive real-time analytics and reporting tools. As a CFO, having access to precise and timely financial data is vital for decision-making. The platform’s reporting abilities empower me to make informed tactical decisions based on real-time insights into our worldwide payroll information.
application and its scope and the way that it applies to work law in practice can be tested through the judicial system by way of case law examples of that would be the acquired rights directive otherwise known as the 2p policies in the UK the working time policies which has actually had numerous strands of that legislation evaluated especially around vacation pay and obviously 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 truly that constant development of the employment law landscape that you really require to navigate when when operating in Europe okay thank you Elizabeth Ray what about you from your individual experience while crossing the pond as discussed each nation has different guidelines but the United States is basically 50 nations
Scalability for Service Development:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into new markets, the software application perfectly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll facilities can adjust to the evolving needs of our worldwide organization.
International Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of client services and I would state individually and jointly these 3 individuals have Decades of experience in in employment law and international Work 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 one of our own Stars delete share head of Global Services at papaya Worldwide inform us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the company 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 locations on an individual aspect and related to our subject today I’ve had the chance to transfer and operate in three different countries it is the business’s responsibility to ensure my security while residing in a foreign nation compliance with local laws and policies is important for me or anyone else as an expat or as a regional so today we have invited our trusted Partners individuals 2.0 to show the value of local
competence when companies Go Global thank you and take pleasure in all right thank you as I said 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 about we’ll discuss the facts a business requires to think about when opening a new entity and broadening into new nations as well as keeping things going we’ll cover aspects such as regional guidelines 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 a worldwide level is not for the faint-hearted the larger a business grows the more they need to understand and handle understanding what to do in each new situation as it rises is very important on many levels understanding regional policies and local laws in addition to company practices helps reduce Associated and global growth papaya through our regional specialists can navigate potential risks such as intellectual property protection data privacy security problems ensuring the business’s operations stay compliant and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has actually shown to be an important possession in our quest for efficient and compliant international payroll management. As the CFO of an international company, I am positive in recommending Papaya Global to companies looking for to streamline their payroll processes, boost compliance, and attain greater performance in managing their worldwide workforce. The software application’s ingenious features and commitment to excellence align with our strategic goals, making it an integral part of our financial operations.
openly 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 considerable legal costs there exists’s other penalties there’s other costs behind that also so the total expense can be very considerable in the 10s of countless dollars or more and and those quantities are growing uh the reason that companies are getting it so wrong is really simply the rules are complicated and they’re changing all the time think ir-35 in the UK which has actually been an ongoing advancement for a number of years now and and still a lot of uncertainty among business on what it truly means and how you deal with it most employers are simply not familiar with the guidelines and and act as if the the guidelines are the same all over which they’re not so so motivate you to to be really proactive as you’re engaging uh workers from a category perspective alright thank you Stephen and moving back to yourself Ray it’s not just the company that suffers in the long run what effects can this have on the worker Papaya Global And Hr Software especially when it pertains to their own tax liabilities social security and advantages for example jury and certainly the workers the other side of the coin
I find time and time again the workers often misclassified unconsciously they do not comprehend the conditions of work or agreement and are told by the customer why it’s most advantageous generally to the client why you should be used or taken part in this fashion the employee might owe taxes and Social Security to the authorities the future pension and health care privileges of the employee can be impacted and a number of times it can be years before this all falls out and by that time it’s too late years have actually gone by they haven’t added to pensions Etc so it’s a huge impact that they never ever understood they were strolling 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 companies are taking out insurance against misclassification but usually premiums are just covering the expense of legal charges whilst the average claim examined against companies relates to to 40 or half of the base pay of employee is there any point in getting 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 penalty and interest in many cases I haven’t seen it at least so uh the the other area that I do believe 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 denied coverage on the basis of the fact that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global And Hr Software …
The thorough functions of come at a cost,
Over the past few decades, the workforce has undergone a significant transformation with the emergence of remote work, which has actually gotten rid of geographical restrictions on hiring. This has enabled businesses to hire skill from all over the world, enabling them to assemble the very best possible team for each function. As a result, staff members have actually gotten greater flexibility to work from home and increase their revenues without having to move to costly areas or commute long distances. According to a 2022 survey, 87% of workers who have the choice to work from another location choose to do so. The COVID-19 pandemic, combined with developments in business connection software application, has further accelerated the shift towards remote work, even in industries that were at first reluctant to adopt the pattern.
insights are valuable to us and and your fellow guests so first things first though um let’s learn more about everybody my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had functions in all kind of Industries retail and Beauty to Aerospace in all kinds of businesses start-up to matrixed environments around the world I offered leadership and strategy 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
Global I work throughout business man maning and constructing external relationships supporting Business clients and options and acting as an advisor I ‘d like to introduce 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 business counsil at bambo HR so I lead our internal legal group and really work extremely carefully with our um HR department as well to handle various legal and HR matters that show up so truly thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our objective is to set you as HR professionals complimentary to do excellent
While Papaya Global offers combinations with numerous HR and finance systems, the implementation process was not without obstacles. Integrating the software with our existing facilities needed extra customization, leading to some hold-ups in the initial rollout.
Paying FAQs Papaya Global And Hr Software 2024
and some smaller subsidiaries within our organization discovered the prices to be on the higher side. As an international company, stabilizing the requirement for innovative functions with budget restraints became a fragile workout.
Client Support Response Time:
There were instances where our groups dealt with problems that needed prompt assistance. However, the response time from’s client assistance group was not always as quick as preferred, leading to periodic delays in concern resolution.
Our execution of involved a phased technique. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This allowed us to identify and attend to integration difficulties early on. As the software application ended up being more ingrained in our operations, we gradually expanded its usage to cover our entire global labor force.
The automated features streamlined our payroll procedures, reducing the time spent on manual estimations and compliance tracking. Regular training sessions and continuous assistance from Papaya assisted our groups end up being competent users of the software, maximizing its capacity for our organization.
Nevertheless, paying a labor force can be complicated. It is especially challenging for business who utilize staff across numerous nations, as they need to constantly consolidate different data streams, by hand track regional and national labor and regulations, and invest important time and resources to establish regional entities in new locations. These business are faced with suboptimal, expensive choices, like opening a foreign subsidiary or employing an expert employment company, which is a regional firm that works with employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported trouble hiring qualified personnel, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers a solution supporting all types of work. It supplies an end-to-end platform, from worker onboarding and ongoing management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they run, offers management of work advantages, and makes sure 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 labor force management. She co-founded after seeing the innovation gap in global.
papaya this webcast has 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 concerns throughout 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 complete 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 thrilled to have you here as we start a journey of information to policy accomplishing
360 degree staff member compliance where we’ll dive into the essential aspects of the staff member compliance management model throughout the session we’ll check out real life challenges real regional policies finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to protect your organization and employees while remaining compliant in an
Ever evolving regulative environment in the everchanging world of organization and financing making sure compliance with payroll guidelines is not just important but likewise a legal imperative from the minute of employing to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance dangers that have significant effects nevertheless with a much deeper more nuanced understanding of their obligations organizations can not just navigate the detailed landscape but also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools essential to browse the complex Terrain of compliance whether you’re an experienced P specialist a small business owner or someone brand-new to the field what I wish to do before we begin and I think it’s really essential
In our quest to boost performance and precision in handling our worldwide labor force, our international corporation turned to, a leading and workforce management software application. The shift aimed to simplify the complex job of handling throughout numerous countries, currencies, and compliance policies.
One of the standout functions of is its robust compliance management system. The software application instantly updates itself to adhere to ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been invaluable in making sure that our processes remain compliant in each nation of operation.
is to state that the material here is illegal advice it is simply for your information please consult your legal group must you have any concerns or issues in relation to anything that we’ve gone over today our key take essential takeaways by the end of the webinar will be an understanding of employee compliance dangers how to hire 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’ve.
act as your hris or is kind 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 need to assist you pay those workers and compensate them and advantages Administration module that permits you to help manage the benefits you supply to your employees so really excited to be here represent um bamb booy container and speak about this subject um and I guess from my point of view I’ll I’ll most likely supply a great deal of a concentrate on the United States side of things when we discuss kind of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a little bit about papay worldwide yes definitely thank you Ian hello everybody I’m Gina dorelis I’m the Employment professional supervisor.
at I manage the employment Council in the US APAC EMA and Israel region I likewise work as us Council for I’m accredited in New York 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 work force 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 point out as we were sort of like going through the intro so it’s actually really great to actually see in the webinar chat where everybody’s actually going to from today I can see that we have people in Las Vegas and Indiana already so if you wish to carry on tell where you are that would be absolutely wonderful whilst we simply wait for everyone else to type of like participate there we go Chicago as well well um so whil we’re doing that I’m waiting on everybody to sort of join I’ll simply run us through the agenda um today we are going to discuss hiring Skill brand-new higher Info Management termination compliance and automation wow the chat has got really truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely everywhere which is wonderful so uh I’m hoping that we’re in fact going to have some actually excellent 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 Personal privacy side of things so the the Journey of an employee and their data is Papaya Global And Hr Software diverse without fail and an.
Ever evolving relationship that begins the minute an individual joins a company it continues throughout their work and Beyond this journey can be divided into k to a number of crucial stages whilst we’re in fact you know that they’re utilized with us so on boarding everyday operations compensation and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the employee has actually left your work throughout the journey organizations are responsible for collecting saving protecting worker data in compliance with information privacy policies no matter where it is you’re running worldwide it frequently includes implementing protected data management systems and making sure strict adherence to local requirements to secure both the worker and the company the advancement of worker data and management c.