A CFO’s Perspective on Papaya Global Calendar 2023/24…
Papaya Global’s platform simplifies international workforce management for companies, making sure compliance with regional guidelines and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes worldwide payroll operations, providing 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 vibrant landscape of international company operations, managing payroll across borders can be a complex and tough job. As the Chief Financial Officer (CFO) of a global business, I comprehend the critical importance of efficient and compliant payroll management. In our pursuit of quality, we have actually welcomed ingenious options to streamline our procedures, and one such transformative tool is Software application.
The Obstacle of Global Payroll:
Global growth causes varied challenges, and payroll management is no exception. Differing tax guidelines, varying employment laws, and several currencies make it imperative for organizations to embrace sophisticated solutions to ensure accuracy, compliance, and efficiency in payroll processing.
Software: A Comprehensive Service:
staff members so it’s actually essential to guarantee that you have actually considered from the beginning any post-termination limitations that you want to put into the contract of employment that they’re enforceable so that implies you need to truly think of what it is you’re wanting to secure and why plainly Define what’s consisted of within the scope of that confidential information and attend to the duration of restriction post-determination that you want to apply and be really able to to validate that in relation to intellectual property the position actually depends on the type of intellectual property you’re seeking to secure and likewise the jurisdiction so for example from a copyright viewpoint in the Netherlands completion client is most likely to have the um intellectual property rights in a copyright that the workers produced who’s been under their supervision and control immediately however in somewhere like Poland for example that automatic right might not be there and that assignment would need to flow through the chain uh contractually so it really depends on the jurisdiction and the kind of IP okay thank you Elizabeth Steve was remaining on the topic of agreements Miss classified misclassifying workers
Papaya Global Software application has actually emerged as a game-changer in the realm of international 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 witnessed firsthand the positive impact of on our company’s monetary operations.
Unified Worldwide Payroll Processing:
enables our business to procedure payroll perfectly throughout multiple countries. The platform’s unified method permits constant payroll estimations, reducing mistakes and ensuring compliance with local guidelines. This has considerably alleviated the threats related to global payroll processing.
also crucial for if later on somebody says misclassification you have your file supported by the requisite documents and that the ideal assessment tools to reveal somebody that you had a thoughtful process and so what do you need to consist of in that procedure it’s the who the what the where and the when who are you handling are you dealing with a private or are you handling a personal 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 professional than a worker so for example accounting
I.T crafting the creatives these all provide themselves more to that assessment 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 again another crucial aspect is the management and guidance of the uh employee and then finally when is it a particular project is it a six-month project 6 years all of this is workable 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 enhanced it this year so that we can roll it out internationally these tools take a survey list for the worker the worker submits and fills these concerns out therefore does the end client or the recipient of the services they both put their information into the tool and after that it does an examination waiting the different questions because not every jurisdiction has the same sensation about some of these concerns some believe they’re more vital 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 most likely assist you with that in terms of some of the things you need to strengthen to make sure that you are considered that examination of uh independent specialist or green where you were examined 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 complexities of global work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in regulations across jurisdictions. This ensures that our payroll processes stick to the most recent standards, reducing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal companies who assist us keep our databases entirely as much as date and we also call on we need to when we see an unusual or or particularly complex scenarios fine thanks Steve I can simply see a fast question in the Q a window yes the session will be tape-recorded and sent out to attendees later on um moving back to to the webinar itself Ray employer of record is regulated differently all over the world and the German law for instance it’s classed as employee leasing can you shed any light on a few of the unique factors to consider for nations and where the eor model isn’t managed yes Ian employee leasing or labor leasing as it’s also called which is prevalent in several countries particularly in Europe enforces strict guidelines on items such as the length of task it likewise appoints workers to collective bargaining agreements that provides rights and advantages but even in the countries that don’t have those rigorous regulations for example the UK Canada and the nordics there are regulations for each nation and each worker is dealt with the like all the other workers because country and all those guidelines require to be complied with okay thank you Ray um Kathy moving I would state to yourself what do business need to consider when determining contract status to secure themselves and the rights of hires what are the benefits and drawbacks of working with contractors and Freelancers versus permanent workers so clearly the the benefit of professionals versus workers is the the flexibility for both the employee and for the company um however I can’t worry enough how important it is to have a constant extensive and a well-documented compliance
Papaya Global Calendar 2023/24 and Time Cost Savings:
The software’s automation abilities have actually considerably minimized the time and effort required for payroll processing. Manual information entry and repeated tasks have been minimized, allowing our financing team to concentrate on strategic initiatives instead of administrative problems. This has actually led to increased performance and performance within our financial 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 right info has to be on the payslip in the right format and in the right position if you remain in breach of of guidelines for payslips the fines are provided per payslip so that’s each worker each pay slip will 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 or so working with in one nation is tough enough however when employing in a you know on a worldwide level it’s a completely various story you require to make certain that you’re up to date with present along with pending local labor laws Steve um how do you ensure and make sure that individuals 2.0 team is on top of an ever-changing landscape and that your clients are completely supported and I’ll arrange this into three essential things we perform in most importantly you require to have the ideal group so we employ a team of international experts in Work Practices um that ex that team of experts consists of attorneys it consists of payroll professionals it consists of HR specialists and these are individuals that not only know the laws in these in these nations and areas but they likewise know the languages they know the local practices they know the cultures and it is essential to have that best team and truly have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies thorough real-time analytics and reporting tools. As a CFO, having access to precise and timely monetary data is essential for decision-making. The platform’s reporting capabilities empower me to make informed tactical choices based upon real-time insights into our worldwide payroll data.
application and its scope and the manner in which it applies to work law in practice can be evaluated through the judicial system by way of case law examples of that would be the acquired rights directive otherwise called the 2p policies in the UK the working time guidelines which has had different hairs of that legislation tested particularly around holiday pay and naturally as Kathy’s going to come on to speak about later on work status which there’s been several precedence set throughout the years so I believe it’s really that consistent advancement of the work law landscape that you truly require to browse when when working in Europe alright thank you Elizabeth Ray what about you from your individual experience while crossing the pond as pointed out 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 company continues to grow and expand into new markets, the software effortlessly accommodates modifications in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the developing requirements of our worldwide company.
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 client services and I would say individually and collectively these three people have Decades of experience in in employment law and international Work 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 likewise have among our own Stars erase 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 4 and a half years as head of Partnerships I have actually developed Papaya’s network of in-country Partners in over 160 locations on a personal aspect and related to our subject today I’ve had the chance to move and operate in three different countries it is the business’s duty to ensure my security while living in a foreign nation compliance with regional laws and guidelines is essential for me or anybody else as an expat or as a local so today we have welcomed our relied on Partners individuals 2.0 to show the value of regional
knowledge when companies Go Worldwide thank you and take pleasure in okay thank you as I said let’s move on to the pact program today’s webinar is an opportunity to ask the panel the questions you’ve been thinking of we’ll discuss the truths a business needs to consider when opening a new entity and broadening into new nations in addition to keeping things going we’ll cover aspects such as regional regulations factors to consider when hiring compliance crucial obstacles payments and what not to do it’s one of the most essential things remembering what not to do um operating on a global level is not for the faint-hearted the larger a business grows the more they require to comprehend and handle knowing what to do in each new situation as it rises is essential on lots of levels comprehending regional policies and regional laws as well as service practices assists reduce Associated and global expansion papaya through our regional specialists can browse possible threats such as copyright defense data personal privacy security issues ensuring the business’s operations stay compliant and safe and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually proven to be an indispensable possession in our mission for efficient and certified global payroll management. As the CFO of a global company, I am positive in advising Papaya Global to organizations seeking to improve their payroll procedures, improve compliance, and achieve greater efficiency in handling their international workforce. The software application’s ingenious functions and dedication to excellence line up with our tactical objectives, making it an integral part of our monetary operations.
I find time and time again the workers frequently misclassified unknowingly they don’t understand the conditions of work or agreement and are informed by the customer why it’s optimum mainly to the client why you need to be used or engaged in this style the worker may owe taxes and Social Security to the authorities the future pension and health care opportunities 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 too late years have actually gone by they haven’t contributed to pensions Etc so it’s a huge effect that they never understood they were walking into you couldn’t agree with you more if you state the UK for instance hmrc can return as much as 10 years um Kathy business are taking out insurance against misclassification however normally premiums are only covering the cost of legal fees whilst the typical claim assessed versus companies relates to to 40 or half of the base pay of employee is there any point in taking out insurance and what is the alternative yeah to your point um you do require to read the small print it is not covering the taxes penalty and interest most of the times I have not seen it a minimum of so uh the the other area that I do believe if you managed to get the coverage what we are saying is is that if your compliance program is not up to stuff you could be denied coverage on the basis of the reality that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Calendar 2023/24 …
The detailed functions of come at a cost,
Current years have seen a dramatic modification to the labor force as the increase of remote work has actually broken down geographical barriers to employing. Organizations can now hire personnel from anywhere worldwide, permitting them to access the best offered talent for any provided role. This gives workers more flexibility to work from home and increase their earnings without moving to costly locations or travelling long distances. A 2022 survey discovered that 87% of workers who have the chance to work remotely take that opportunity. The outbreak of COVID-19, in conjunction with new business connectivity software, accelerated the transfer to remote work, consisting of in industries previously hesitant to accept the pattern.
insights are valuable to us and and your fellow participants so first things initially though um let’s get to know everyone my name is Ian Charles and I have actually operated in payroll for the last 25 years I’ve had roles in all kind of Industries retail and Beauty to Aerospace in all kinds of businesses startup to matrixed environments around the world I supplied management and technique to populations of more than 100,000 employees on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout business male maning and building external relationships supporting Enterprise clients and options and functioning as a consultant I ‘d like 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 corporate counsil at bambo HR so I lead our in-house legal team and in fact work extremely closely with our um HR department as well to handle different legal and HR matters that turn up so really delighted 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 specialists totally free to do great
While Papaya Global deals integrations with numerous HR and finance systems, the execution process was not without obstacles. Incorporating the software with our existing facilities required extra modification, causing some hold-ups in the initial rollout.
Paying FAQs Papaya Global Calendar 2023/24 2024
and some smaller subsidiaries within our organization discovered the rates to be on the greater side. As a global business, stabilizing the requirement for innovative functions with budget plan restrictions became a delicate workout.
Client Support Reaction Time:
There were instances where our groups faced issues that needed timely help. Nevertheless, the response time from’s customer assistance team was not always as quick as preferred, leading to occasional delays in concern resolution.
Our execution of involved a phased technique. We started by onboarding a few subsidiaries to test the system’s compatibility with our existing procedures. This permitted us to determine and resolve integration difficulties early on. As the software application became more implanted in our operations, we gradually expanded its use to cover our whole global workforce.
The automated features structured our payroll procedures, reducing the time invested in manual computations and compliance tracking. Routine training sessions and ongoing assistance from Papaya assisted our groups end up being proficient users of the software, optimizing its potential for our company.
However, paying a labor force can be complex. It is especially challenging for companies who employ personnel across multiple countries, as they need to continuously consolidate different data streams, by hand track local and national labor and policies, and spend valuable time and resources to establish local entities in brand-new locations. These business are faced with suboptimal, expensive options, like opening a foreign subsidiary or working with an expert work company, which is a local firm that works with employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported problem recruiting qualified workers, an increase of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
provides a service supporting all forms of employment. It offers an end-to-end platform, from employee onboarding and ongoing management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they run, 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 expert 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 certain to participate in the total webcast in order to get your credits if you have any concerns during the webcast please click on the Q&A tab in your webinar controls and type the there a new tab will open in your browser with the webcast survey please be sure to complete it as quickly as the webcast has 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 enjoyed have you here as we start a journey of data to guideline attaining
360 degree worker compliance where we’ll dive into the vital elements of the employee compliance management model throughout the session we’ll check out real world challenges genuine regional regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your company and employees while staying certified in an
Ever evolving regulative environment in the everchanging world of company and finance guaranteeing compliance with payroll policies is not just crucial however also a legal imperative from the minute of employing 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 deeper more nuanced understanding of their responsibilities companies can not only navigate the detailed landscape however also 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 believe it’s really crucial
In our mission to improve efficiency and precision in managing our global workforce, our international corporation turned to, a leading and labor force management software. The transition intended to simplify the complex task of managing across numerous nations, currencies, and compliance regulations.
Among the standout features of is its robust compliance management system. The software application instantly updates itself to comply with ever-evolving tax and labor laws across several jurisdictions. This has actually been indispensable in making sure that our procedures remain certified in each nation of operation.
is to state that the material here is illegal suggestions it is simply for your info please consult your legal team needs to you have any questions or issues in relation to anything that we’ve discussed today our key take crucial takeaways by the end of the webinar will be an understanding of staff member compliance risks how to work with ly with confidence how to simplify information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.
function as your hris or is type of your core staff member record um to handle that worker life cycle 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 permits you to help manage the benefits you supply to your workers so really thrilled to be here represent um bamb booy jar and talk about this subject um and I guess from my viewpoint I’ll I’ll probably provide a great deal 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 all right thanks Greg um Gina over to you would you like to present yourself and inform the audience a little bit about papay international yes definitely thank you Ian hi everyone I’m Gina dorelis I’m the Work professional manager.
at I manage the employment Council in the US APAC EMA and Israel area I also serve as us Council for I’m certified in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service labor force service provider to employees serving in over.
160 nations fine thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were type of like going through the introduction so it’s really truly great to really see in the webinar chat where everyone’s actually attending from today I can see that we have people in Las Vegas and Indiana already so if you wish to continue inform where you are that would be definitely wonderful whilst we simply await everyone else to kind of like participate there we go Chicago as well well um so whil we’re doing that I’m awaiting everyone to sort of join I’ll just run us through the agenda um today we are going to talk about employing Skill new greater Information Management termination compliance and automation wow the chat has actually got truly really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is great 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 worker and their information is Papaya Global Calendar 2023/24 complex 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 key phases whilst we’re in fact you know that they’re employed with us so on boarding daily operations compensation and advantages professional advancement then we get to the offboarding and even advocacy so it even takes place after the employee has left your work throughout the journey companies are responsible for collecting storing safeguarding employee data in compliance with information privacy guidelines no matter where it is you’re operating all over the world it often includes implementing safe and secure information management systems and ensuring strict adherence to regional requirements to secure both the employee and the organization the evolution of worker data and management c.