A CFO’s Perspective on Papaya Global Calendar 2019/20…
The platform enables business to manage their worldwide workforce and abide by regional employment guidelines and tax laws. Papaya Global offers a series of services, consisting of payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is designed to streamline the complexities of global payroll and offer real-time exposure 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 global company operations, handling payroll across borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of an international business, I understand the important significance of efficient and certified payroll management. In our pursuit of excellence, we have actually welcomed innovative solutions to streamline our procedures, and one such transformative tool is Software.
The Challenge of Worldwide Payroll:
Global growth causes varied difficulties, and payroll management is no exception. Differing tax policies, varying employment laws, and multiple currencies make it vital for organizations to adopt sophisticated options to guarantee accuracy, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Solution:
It is important to consider and include post-termination restrictions in the employment agreement to ensure enforceability. You need to carefully identify what you are looking for to safeguard and clearly define the confidential information that falls within its scope. Furthermore, specify the period of the post-termination constraint and be prepared to validate it in relation to copyright. The rules concerning intellectual property differ depending on the kind of IP and the jurisdiction. For example, in the Netherlands, completion customer is most likely to have copyright rights over works produced by employees under their supervision, while in Poland, legal task may be necessary.
Papaya Global Software has become a game-changer in the world of international payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually seen firsthand the positive effect of on our organization’s financial operations.
Unified Global Payroll Processing:
enables our company to process payroll perfectly throughout several nations. The platform’s unified method permits constant payroll estimations, decreasing errors and guaranteeing compliance with regional guidelines. This has substantially alleviated the risks related to worldwide payroll processing.
also crucial for if in the future someone states misclassification you have your file supported by the requisite files which the best examination tools to show someone that you had a thoughtful process therefore what do you have to consist of in that process 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 running what are they doing is it the kind of work that provides 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 likewise uh where are they doing it can they work from anywhere or do they need to be on website and handled once again another key element is the management and supervision of the uh worker and then lastly when is it a specific job is it a six-month task six years all of this is workable but it has 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 have actually enhanced it this year so that we can roll it out globally these tools take a survey list for the worker the employee completes and fills these concerns out therefore 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 concerns some think they’re more important than others and it comes out with a red yellow or green red you’re probably a staff member yellow you’re on the cusp we can probably help you with that in terms of a few of the important things you need to boost to make certain that you are considered that assessment of uh independent professional or green where you were evaluated as an as a independent contractor once that evaluation is done all the requisite documents are beneath it so that if in the future there
Navigating the complexities of worldwide employment laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our company up-to-date with modifications in policies throughout jurisdictions. This guarantees that our payroll procedures follow the latest requirements, reducing the risk of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal companies who help us keep our databases entirely up to date and we also contact we require to when we see an unusual or or particularly complicated circumstances alright thanks Steve I can just see a quick concern in the Q a window yes the session will be taped and sent to participants afterwards um returning to to the webinar itself Ray company of record is controlled in a different way around the globe and the German law for instance it’s classified as staff member leasing can you shed any light on some of the special factors to consider for countries and where the eor model isn’t controlled yes Ian staff member leasing or labor leasing as it’s likewise called which prevails in a number of nations specifically in Europe enforces strict policies on products such as the length of assignment it also assigns workers to collective bargaining contracts that gives them rights and advantages however even in the countries that do not have those rigorous policies for instance the UK Canada and the nordics there are regulations for each country and each worker is dealt with the like all the other employees in that nation and all those guidelines require to be complied with okay thank you Ray um Kathy moving I would say to yourself what do business require to factor in when identifying contract status to secure themselves and the rights of hires what are the benefits and drawbacks of hiring professionals and Freelancers versus irreversible staff members so obviously the the benefit of contractors versus employees is the the versatility for both the worker and for the company um but I can’t stress enough how crucial it is to have a consistent comprehensive and a well-documented compliance
Papaya Global Calendar 2019/20 and Time Savings:
The software’s automation capabilities have actually considerably decreased the time and effort required for payroll processing. Handbook data entry and repeated tasks have actually been decreased, allowing our finance group to concentrate on strategic efforts rather than administrative problems. This has actually led to increased performance and performance within our monetary operations.
in one considering that each state has its own regulations Californians are a few of the most rigorous an example is pay slips on a payslip in California the best info needs to be on the payslip in the right format and in the right position if you’re 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 worry to consider and we’re only two questions in and 10 minutes or so employing in one nation is difficult enough however when working with in a you understand on an international level it’s a totally different story you need to make sure that you’re up to date with existing along with pending local labor laws Steve um how do you make certain and guarantee that the people 2.0 team is on top of an ever-changing landscape and that your customers are completely supported and I’ll arrange this into three essential things we carry out in primarily you need to have the ideal team so we work with a group of global professionals in Employment Practices um that ex that group of professionals consists of attorneys it consists of payroll experts it includes HR professionals and these are individuals that not just understand the laws in these in these nations and areas but they also understand the languages they know the regional practices they understand the cultures and it is necessary to have that right team and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers extensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt financial information is crucial for decision-making. The platform’s reporting capabilities empower me to make informed tactical decisions based upon 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 checked through the judicial system by way of case law examples of that would be the acquired rights directive otherwise referred to as the 2p guidelines in the UK the working time policies which has actually had various strands of that legislation checked especially around vacation pay and naturally as Kathy’s going to come on to talk about later work status which there’s been several precedence set over the years so I believe it’s really that constant development of the work law landscape that you actually need to browse when when operating in Europe fine thank you Elizabeth Ray what about you from your individual experience while crossing the pond as mentioned each nation has various policies however the United States is essentially 50 countries
Scalability for Company Development:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software seamlessly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll facilities can adapt to the developing needs of our international company.
International Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Gander who is our senior vice president of customer service and I would say individually and collectively these three people have Decades of experience in in work law and worldwide Work Practices so thank you it’s an enjoyment to be with everyone here today sounds like we have actually got the right people with us today and in in addition to to those well we also have among our own Stars delete share head of Global Provider at papaya Global 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 established Papaya’s network of in-country Partners in over 160 areas on an individual aspect and related to our subject today I’ve had the opportunity to relocate and work in 3 different nations it is the company’s responsibility to guarantee my security while residing in a foreign nation compliance with local laws and policies is vital for me or anybody else as an expat or as a local so today we have actually invited our trusted Partners individuals 2.0 to demonstrate the value of regional
knowledge when companies Go Worldwide thank you and enjoy all right thank you as I said let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the concerns you’ve been considering we’ll go over the truths a company requires to think about when opening a new entity and broadening into brand-new nations in addition to keeping things going we’ll cover aspects such as local policies considerations when hiring compliance key obstacles 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 larger a business grows the more they need to understand and manage knowing what to do in each new scenario as it rises is important on lots of levels comprehending local policies and regional laws in addition to company practices helps reduce Associated and international growth papaya through our local experts can browse prospective dangers such as intellectual property defense data privacy security concerns guaranteeing the business’s operations stay compliant and safe and secure tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has shown to be an important asset in our quest for efficient and compliant worldwide payroll management. As the CFO of a global business, I am confident in suggesting Papaya Global to companies seeking to simplify their payroll processes, enhance compliance, and accomplish greater efficiency in handling their global labor force. The software’s ingenious features and dedication to quality align with our tactical objectives, making it an important 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 likewise significant legal expenses there’s there’s other charges there’s other costs behind that as well so the overall expense can be extremely substantial in the tens of millions of dollars or more and and those amounts are growing uh the reason companies are getting it so wrong is really just the guidelines are complicated and they’re altering all the time believe ir-35 in the UK which has actually been an ongoing development for numerous years now and and still a lot of unpredictability amongst business on what it actually indicates and how you handle it most companies are simply not aware of the rules and and act as if the the guidelines are the same everywhere which they’re not so so encourage you to to be extremely proactive as you’re engaging uh employees from a category perspective 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 staff member Papaya Global Calendar 2019/20 specifically when it comes to their own tax liabilities social security and advantages for instance jury and undoubtedly the employees the other side of the coin
I find time and time again the employees frequently misclassified unknowingly they do not comprehend the conditions of employment or contract and are told by the client why it’s optimum primarily to the client why you must be used or engaged in this fashion the worker might owe taxes and Social Security to the authorities the future pension and health care privileges of the worker can be affected and several 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 added to pensions Etc so it’s a big impact that they never knew 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 companies are securing insurance coverage versus misclassification however typically premiums are just covering the expense of legal costs whilst the typical claim examined against employers equates to to 40 or half of the base pay of worker is there any point in taking out 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 penalty and interest most of the times 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 pack you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Calendar 2019/20 …
The comprehensive functions of come at a cost,
Recent years have seen a remarkable change to the labor force as the increase of remote work has actually broken down geographical barriers to employing. Organizations can now hire staff from anywhere worldwide, permitting them to access the very best available talent for any provided role. This offers workers more freedom to work from home and increase their earnings without transferring to pricey areas or travelling fars away. A 2022 study discovered that 87% of staff members who have the chance to work from another location take that opportunity. The break out of COVID-19, in conjunction with new business connection software, accelerated the move to remote work, consisting of in industries formerly hesitant to accept the trend.
insights are valuable to us and and your fellow guests so first things initially though um let’s be familiar with everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I have actually had roles in all sort of Industries retail and Appeal to Aerospace in all types of organizations startup to matrixed environments around the world I supplied management 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 throughout business male maning and building external relationships supporting Business customers and solutions and functioning as an advisor I ‘d like to present our very first Greg um guest Greg who will kick things off by informing us um who he is and a 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 team and actually work really carefully with our um HR department as well to handle various legal and HR matters that turn up so actually thrilled to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we say our mission is to set you as HR professionals totally free to do great
While Papaya Global deals integrations with various HR and financing systems, the application process was not without obstacles. Integrating the software with our existing facilities needed additional modification, leading to some hold-ups in the initial rollout.
Paying FAQs Papaya Global Calendar 2019/20 2024
and some smaller sized subsidiaries within our company discovered the rates to be on the higher side. As an international company, stabilizing the requirement for innovative functions with spending plan restrictions became a fragile exercise.
Client Assistance Reaction Time:
There were instances where our groups dealt with concerns that required prompt help. Nevertheless, the action time from’s consumer support group was not constantly as quick as desired, resulting in periodic hold-ups in issue resolution.
Our application of included a phased method. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This allowed us to determine and resolve integration challenges early on. As the software became more implanted in our operations, we gradually expanded its use to cover our whole worldwide workforce.
The automated features streamlined our payroll procedures, minimizing the time invested in manual computations and compliance tracking. Regular training sessions and ongoing support from Papaya helped our teams end up being competent users of the software application, optimizing its potential for our organization.
Companies that worker workers throughout several nations typically face elaborate obstacles when it comes to managing their labor force. Among the most significant hurdles is consolidating various information streams and adhering to diverse regional and national labor guidelines, which can be both lengthy and pricey. Furthermore, establishing regional entities in new areas can be an expensive and suboptimal option, with alternatives such as opening a foreign subsidiary or hiring a professional work company (PEO) typically charging up to 15% of the payroll. These obstacles have actually led to a substantial boost in trouble hiring certified workers, with 75% of companies reporting this issue in 2022, a 21% boost from 2019. The payroll and HR options market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers an option supporting all types of work. It supplies an end-to-end platform, from employee onboarding and continuous management to international payments and. It assists companies with labor law compliance in the jurisdictions in which they run, offers management of employment benefits, and makes sure data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading professional in payroll and labor force management. She co-founded after seeing the technology space in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to go to the total webcast in order to receive your credits if you have any questions during the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your internet browser with the webcast survey please be sure 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 hello and thank you for joining us today we’re enjoyed have you here as we start a journey of data to regulation achieving
360 degree employee compliance where we’ll dive into the necessary aspects of the worker compliance management model 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 an extensive understanding of how to safeguard your organization and staff members while staying certified in an
Ever evolving regulatory environment in the everchanging world of organization and finance making sure compliance with payroll policies is not just important but likewise a legal crucial from the minute of hiring to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance dangers that have far-reaching effects however with a much deeper more nuanced understanding of their responsibilities companies can not only browse the complex landscape however likewise proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools essential to navigate the complex Terrain of compliance whether you’re a seasoned P expert a small company owner or someone new to the field what I wish to do before we start and I believe it’s actually essential
In our quest to boost effectiveness and accuracy in handling our worldwide workforce, our multinational corporation turned to, a leading and labor force management software. The transition aimed to simplify the complex task of handling across numerous nations, currencies, and compliance guidelines.
Among the standout functions of is its robust compliance management system. The software application instantly updates itself to follow ever-evolving tax and labor laws throughout several jurisdictions. This has been important in guaranteeing that our processes remain compliant in each country of operation.
is to state that the content here is illegal suggestions it is simply for your details please consult your legal team should you have any concerns or concerns in relation to anything that we have actually discussed today our secret take crucial takeaways by the end of the webinar will be an understanding of employee compliance dangers how to employ ly with confidence how to streamline information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.
act as your hris or is type of your core employee record um to handle that staff member life cycle throughout their Journey with you as as an employee in addition to a payroll module we have to assist you pay those employees and compensate them and benefits Administration module that enables you to assist handle the advantages you supply to your employees so truly thrilled to be here represent um bamb booy jar and discuss this subject um and I guess from my point of view I’ll I’ll most likely supply a great deal of a focus on the US side of things when we speak about type of compliance so happy to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay global yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Work expert supervisor.
at I manage the employment Council in the US APAC EMA and Israel area I also function 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 supply payroll payments and workforce management as a Service labor force provider to workers serving in over.
160 nations alright thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were sort of like going through the introduction so it’s truly truly good to actually see in the webinar chat where everybody’s actually attending 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 wonderful whilst we simply wait for everybody else to kind of like participate there we go Chicago too well um so whil we’re doing that I’m waiting on everyone to sort of join I’ll simply run us through the program um today we are going to talk about working with Skill brand-new higher Details Management termination compliance and automation wow the chat has actually got really actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely everywhere which is fantastic so uh I’m hoping that we’re really going to have some truly excellent commentary and concerns throughout the uh the webinar as well okay 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 Papaya Global Calendar 2019/20 multifaceted without fail and an.
Ever developing relationship that begins the moment an individual joins an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous essential stages whilst we’re really you know 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 takes place after the worker has actually left your employment throughout the journey companies are responsible for gathering storing securing employee data in compliance with information personal privacy policies no matter where it is you’re running worldwide it often involves carrying out safe data management systems and guaranteeing rigorous adherence to local requirements to safeguard both the worker and the organization the advancement of worker information and management c.