A CFO’s Perspective on Papaya Global Calendar 19/20…
Papaya Global’s platform streamlines international workforce management for companies, making sure compliance with regional regulations and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes worldwide payroll operations, offering businesses with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of international business operations, handling payroll throughout borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of an international company, I comprehend the critical importance of effective and certified payroll management. In our pursuit of quality, we have embraced ingenious services to improve our processes, and one such transformative tool is Software application.
The Obstacle of Global Payroll:
International expansion causes varied obstacles, and payroll management is no exception. Differing tax regulations, varying work laws, and multiple currencies make it imperative for organizations to embrace sophisticated solutions to guarantee accuracy, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Option:
It is crucial to consider and include post-termination constraints in the employment agreement to ensure enforceability. You should thoroughly determine what you are seeking to secure and plainly define the confidential information that falls within its scope. Additionally, specify the period of the post-termination restriction and be prepared to validate it in relation to copyright. The guidelines relating to copyright vary depending on the kind of IP and the jurisdiction. For instance, in the Netherlands, completion customer is likely to have copyright rights over works produced by workers under their guidance, while in Poland, contractual task may be necessary.
Papaya Global Software has actually become a game-changer in the realm of international payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly user interface. As the CFO, I have actually experienced firsthand the positive effect of on our company’s financial operations.
Unified Global Payroll Processing:
allows our business to procedure payroll flawlessly throughout several countries. The platform’s unified technique allows for constant payroll calculations, minimizing mistakes and guaranteeing compliance with local regulations. This has significantly alleviated the dangers related to global payroll processing.
also crucial for if later on someone states misclassification you have your file supported by the requisite documents and that the ideal assessment tools to show someone that you had a thoughtful procedure therefore what do you have to include in that procedure it’s the who the what the where and the when who are you handling are you handling a specific or are you handling an individual Service Corporation and how are they running what are they doing is it the kind of work that lends itself more to being an independent specialist than a staff member 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 managed once again another essential aspect is the management and supervision of the uh employee and after that lastly when is it a particular job is it a six-month project six years all of this is manageable but it has to be documented 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 globally these tools take a survey list for the employee the employee completes and fills these questions out and so does the end customer or the recipient of the services they both put their details into the tool and after that it does an evaluation waiting the various concerns because not every jurisdiction has the very same sensation about some of these concerns some think they’re more vital 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 most likely assist you with that in terms of a few of the important things you require to reinforce to make certain that you are considered that evaluation of uh independent specialist or green where you were evaluated as an as a independent specialist once that assessment is done all the requisite documents are beneath it so that if later there
Navigating the intricacies of worldwide work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our company current with changes in regulations across jurisdictions. This guarantees that our payroll procedures abide by the most recent requirements, decreasing the risk of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal firms who help us keep our databases entirely up to date and we likewise contact we require to when we see an uncommon or or especially complex scenarios fine thanks Steve I can simply see a fast concern in the Q a window yes the session will be recorded and sent out to attendees later on um moving back to to the webinar itself Ray company of record is regulated differently worldwide and the German law for instance it’s classed as employee leasing can you shed any light on some of the special considerations for nations and where the eor model isn’t managed yes Ian staff member leasing or labor leasing as it’s also called which is prevalent in several countries specifically in Europe enforces stringent guidelines on products such as the length of project it also designates employees to collective bargaining agreements that gives them rights and advantages however even in the nations that do not have those stringent regulations for example the UK Canada and the nordics there are guidelines for each nation and each employee is dealt with the same as all the other employees because country and all those policies require to be followed fine thank you Ray um Kathy moving I would say to yourself what do companies need to factor in when determining agreement status to safeguard themselves and the rights of hires what are the pros and cons of employing specialists and Freelancers versus permanent employees so certainly the the benefit of specialists versus workers is the the flexibility for both the employee and for the company um but I can’t stress enough how essential it is to have a consistent extensive and a well-documented compliance
Papaya Global Calendar 19/20 and Time Savings:
The software application’s automation abilities have actually significantly minimized the time and effort required for payroll processing. Manual data entry and repetitive tasks have actually been lessened, enabling our finance team to concentrate on tactical initiatives instead of administrative concerns. This has led to increased efficiency and efficiency within our monetary operations.
in one given that each state has its own guidelines Californians are some of the most strict an example is pay slips on a payslip in California the ideal information needs to be on the payslip in the best format and in the best position if you remain in breach of of guidelines for payslips the fines are released per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think of and we’re only two concerns in and 10 minutes or so hiring in one country is difficult enough however when hiring in a you understand on an international level it’s a totally various story you need to make sure that you depend on date with current as well as pending regional labor laws Steve um how do you make sure and make sure that individuals 2.0 team is on top of an ever-changing landscape and that your clients are totally supported and I’ll organize this into three key things we do in firstly you need to have the ideal team so we hire a team of international experts in Employment Practices um that ex that group of experts consists of lawyers it includes payroll professionals it consists of HR experts and these are people that not only know the laws in these in these nations and areas but they also understand the languages they understand the regional practices they know the cultures and it is essential to have that right team and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides comprehensive real-time analytics and reporting tools. As a CFO, having access to accurate and prompt monetary data is crucial for decision-making. The platform’s reporting capabilities empower me to make educated tactical decisions based upon real-time insights into our worldwide 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 acquired rights instruction otherwise known as the 2p guidelines in the UK the working time policies which has actually had different hairs of that legislation checked especially around vacation pay and naturally as Kathy’s going to come on to speak about later on work status which there’s been multiple precedence set over the years so I believe it’s truly that continuous development of the employment law landscape that you actually need to browse when when operating in Europe alright thank you Elizabeth Ray what about you from your individual experience while moving across the pond as mentioned each nation has different guidelines however the United States is essentially 50 countries
Scalability for Company Growth:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and expand into brand-new markets, the software application seamlessly accommodates changes in our labor force and payroll requirements. This scalability ensures that our payroll facilities can adjust to the evolving needs of our global organization.
International Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of customer service and I would say separately and collectively these three individuals have Years of experience in in work law and global Work Practices so thank you it’s an enjoyment to be with everyone here today sounds like we’ve got the right people with us today and in in addition to to those well we likewise have one of our own Stars erase share head of Global Services at papaya Worldwide tell us about yourself thank you Elin Ian hey there 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 areas on an individual element and related to our subject today I’ve had the chance to move and work in three various nations it is the company’s obligation to ensure my defense while residing in a foreign nation compliance with regional laws and guidelines is crucial for me or anyone else as an expat or as a regional so today we have invited our relied on Partners people 2.0 to show the importance of local
proficiency when companies Go Worldwide thank you and enjoy alright thank you as I said let’s move on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking of we’ll go over the truths a company requires to think about 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 essential difficulties payments and what not to do it’s one of the most crucial things remembering what not to do um operating on an international level is not for the faint-hearted the bigger a company grows the more they require to understand and manage understanding what to do in each new circumstance as it rises is important on lots of levels comprehending local regulations and regional laws along with service practices assists alleviate Associated and worldwide expansion papaya through our local specialists can browse prospective dangers such as intellectual property security data personal privacy security issues ensuring the business’s operations stay certified and protected tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software application has proven to be an indispensable asset in our quest for effective and certified global payroll management. As the CFO of a global company, I am confident in advising Papaya Global to companies looking for to enhance their payroll procedures, improve compliance, and attain higher performance in handling their worldwide labor force. The software application’s innovative functions and commitment to quality align with our tactical goals, making it an important part of our financial operations.
openly announced and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly revealed settlements there’s also substantial legal expenses there’s there’s other charges there’s other expenses behind that too so the total cost can be very significant in the 10s of countless dollars or more and and those quantities are growing uh the reason that business are getting it so wrong is truly just the guidelines are complex and they’re altering all the time believe ir-35 in the UK which has been an ongoing development for several years now and and still a lot of unpredictability among companies on what it actually indicates and how you handle it most companies are simply not familiar with the rules and and act as if the the rules are the same all over which they’re not so so encourage you to to be really proactive as you’re engaging uh workers from a category point of view all right thank you Stephen and returning to yourself Ray it’s not only the business that suffers in the long run what results can this have on the worker Papaya Global Calendar 19/20 specifically when it pertains to their own tax liabilities social security and advantages for example jury and certainly the workers the opposite of the coin
I find time and time again the workers typically misclassified unknowingly they don’t understand the conditions of work or contract and are told by the client why it’s most advantageous mainly to the client why you need to be utilized or participated in this fashion the worker might owe taxes and Social Security to the authorities the future pension and healthcare advantages of the worker 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 actually gone by they haven’t contributed to pensions And so on so it’s a big impact that they never 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 10 years um Kathy business are taking out insurance against misclassification however usually premiums are just covering the expense of legal charges whilst the average claim assessed against employers relates to to 40 or half of the base salary of worker is there any point in securing insurance coverage and what is the alternative yeah to your point um you do need to check out the small print it is not covering the taxes charge and interest in many cases I have not seen it at least so uh the the other location that I do believe if you managed to get the protection what we are saying is is that if your compliance program is not up to stuff you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Calendar 19/20 …
The thorough features of come at an expense,
Current years have seen a dramatic modification to the labor force as the increase of remote work has actually broken down geographical barriers to working with. Businesses can now work with staff from anywhere worldwide, allowing them to access the very best offered skill for any provided function. This offers employees more liberty to work from home and increase their earnings without moving to costly locations or commuting fars away. A 2022 survey found that 87% of workers who have the chance to work remotely take that opportunity. The break out of COVID-19, in conjunction with new enterprise connection software, sped up the transfer to remote work, consisting of in industries formerly hesitant to welcome the trend.
insights are valuable to us and and your fellow guests so first things first though um let’s get to know everybody my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had functions in all type of Industries retail and Beauty to Aerospace in all types of organizations start-up to matrixed environments around the world I supplied leadership and method to populations of more than 100,000 employees on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
International I work across the business guy maning and constructing external relationships supporting Enterprise customers and options and serving as an advisor I want to present our very 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 business counsil at bambo HR so I lead our internal legal group and really work very carefully with our um HR department as well to manage different legal and HR matters that turn 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 mission is to set you as HR specialists totally free to do excellent
Although Papaya Global supplies integrations with numerous HR and financing systems, we came across some obstacles during the integration process. Customizing the software to line up with our existing infrastructure showed to be more complicated than expected, resulting in delays in the preliminary rollout.
The extensive functions offered by Papaya Global come at a cost, which some of our smaller sized subsidiaries found to be prohibitively pricey. As a global company, we had to thoroughly weigh the need for innovative functionality against spending plan restrictions.
Support Action Time:
On occasion, our teams experienced concerns that required immediate assistance. Nevertheless, the reaction time from Papaya Global’s consumer assistance team was not always as prompt as we would have liked, leading to hold-ups in fixing those issues.
Our implementation of included a phased method. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This permitted us to identify and resolve integration challenges early on. As the software ended up being more implanted in our operations, we gradually broadened its use to cover our entire international labor force.
The automated features structured our payroll processes, decreasing the time invested in manual calculations and compliance tracking. Regular training sessions and continuous support from Papaya assisted our groups end up being proficient users of the software, maximizing its capacity for our organization.
However, paying a labor force can be complex. It is particularly challenging for business who utilize staff across numerous countries, as they must constantly combine different information streams, by hand track local and national labor and regulations, and spend important time and resources to establish local entities in new locations. These business are confronted with suboptimal, costly alternatives, like opening a foreign subsidiary or employing an expert work company, which is a local firm that employs employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported trouble hiring certified workers, an increase of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is predicted to reach $50.4 billion by 2030.
uses an option supporting all forms of employment. It provides an end-to-end platform, from staff member onboarding and continuous management to worldwide payments and. It assists business with labor law compliance in the jurisdictions in which they run, uses management of employment advantages, and guarantees data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading specialist in payroll and labor force management. She co-founded after seeing the innovation space in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make certain to go to the complete webcast in order to get your credits if you have any concerns 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 study please make sure to finish it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hey there and thank you for joining us today we’re enjoyed have you here as we embark on a journey of data to policy accomplishing
360 degree employee compliance where we’ll dive into the important aspects of the staff member compliance management design throughout the session we’ll check out real world difficulties genuine local guidelines finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to secure your company and workers while remaining compliant in an
Ever progressing regulatory environment in the everchanging world of business and finance guaranteeing compliance with payroll policies is not only important however also a legal important from the minute of hiring to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance dangers that have far-reaching repercussions nevertheless with a deeper more nuanced understanding of their responsibilities companies can not only browse the intricate landscape however likewise proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools essential to navigate the complex Terrain of compliance whether you’re an experienced P professional a small business owner or somebody new to the field what I wish to do before we begin and I think it’s really important
In our quest to improve performance and accuracy in managing our international labor force, our international corporation turned to, a leading and workforce management software application. The shift intended to simplify the complex job of handling across different countries, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software immediately updates itself to comply with ever-evolving tax and labor laws across multiple jurisdictions. This has been vital in making sure that our procedures stay certified in each nation of operation.
is to state that the material here is not legal suggestions it is merely for your information please consult your legal group ought to you have any questions or issues in relation to anything that we’ve discussed today our key take key takeaways by the end of the webinar will be an understanding of worker compliance dangers how to employ ly with self-confidence how to streamline information management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we have actually.
work as your hris or is sort of your core staff member record um to handle that employee life process throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those workers and compensate them and advantages Administration module that allows you to help handle the benefits you offer to your workers so truly delighted to be here represent um bamb booy container and talk about this topic um and I guess from my viewpoint I’ll I’ll most likely supply a lot of a focus on the US side of things when we speak about kind of compliance so happy to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a little bit about papay worldwide yes absolutely thank you Ian hello everyone 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 work as us Council for I’m licensed in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and workforce management as a Service labor force company to workers serving in over.
160 nations all right thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were type of like going through the introduction so it’s actually actually good to really see in the webinar chat where everybody’s in fact going to from today I can see that we have individuals in Las Vegas and Indiana already so if you want to carry on inform where you are that would be definitely great whilst we just await everyone else to kind of like join in there we go Chicago too well um so whil we’re doing that I’m waiting on everyone to type of join I’ll simply run us through the program um today we are going to go over employing Talent new higher Info Management termination compliance and automation wow the chat has got actually actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely everywhere which is fantastic so uh I’m hoping that we’re in fact going to have some truly fantastic commentary and concerns throughout the uh the webinar as well all right so that’s the agenda then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of an employee and their information is Papaya Global Calendar 19/20 multifaceted without fail and an.
Ever progressing relationship that begins the moment an individual signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous essential phases whilst we’re really you understand that they’re used with us so on boarding daily operations compensation and advantages professional advancement then we get to the offboarding and even advocacy so it even occurs after the staff member has left your employment throughout the journey organizations are accountable for gathering saving safeguarding staff member data in compliance with information personal privacy guidelines no matter where it is you’re operating around the globe it typically includes carrying out safe and secure data management systems and making sure strict adherence to regional requirements to safeguard both the employee and the company the evolution of staff member information and management c.