A CFO’s Perspective on Papaya Global Calender 2017 18…
Papaya Global’s platform improves global workforce management for business, making sure compliance with local guidelines and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and attendance tracking, and HR assistance. The platform centralizes international payroll operations, providing services with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of worldwide business operations, managing payroll throughout borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of a global business, I comprehend the critical value of effective and compliant payroll management. In our pursuit of excellence, we have embraced ingenious services to streamline our procedures, and one such transformative tool is Software application.
The Challenge of International Payroll:
Worldwide growth brings about varied challenges, and payroll management is no exception. Differing tax regulations, differing employment laws, and multiple currencies make it crucial for companies to adopt advanced solutions to ensure accuracy, compliance, and performance in payroll processing.
Software: A Comprehensive Solution:
staff members so it’s actually essential to guarantee that you have actually thought about from the outset any post-termination restrictions that you wish to put into the agreement of work that they’re enforceable so that suggests you require to really think of what it is you’re looking to safeguard and why clearly Specify what’s included within the scope of that secret information and attend to the duration of limitation post-determination that you wish to apply and be actually able to to validate that in relation to intellectual property the position truly depends on the type of copyright you’re seeking to secure and likewise the jurisdiction so for example from a copyright perspective in the Netherlands the end customer is most likely to have the um copyright rights in a copyright that the employees produced who’s been under their supervision and control immediately however in someplace like Poland for instance that automatic right might not exist and that task would need to stream through the chain uh contractually so it truly depends upon the jurisdiction and the type of IP all right thank you Elizabeth Steve was staying on the topic of agreements Miss categorized misclassifying workers
Papaya Global Software has actually emerged as a game-changer in the world of global payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, easy to use interface. As the CFO, I have seen firsthand the positive impact of on our company’s financial operations.
Unified Worldwide Payroll Processing:
allows our business to process payroll perfectly across multiple countries. The platform’s unified technique allows for consistent payroll computations, decreasing mistakes and making sure compliance with regional guidelines. This has significantly mitigated the threats related to worldwide payroll processing.
likewise crucial for if later on somebody states misclassification you have your file supported by the requisite files and that the right assessment tools to reveal 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 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 type of work that provides itself more to being an independent professional than an employee so for instance accounting
I.T engineering the creatives these all provide themselves more to that examination of being freelancer you know also uh where are they doing it can they work from anywhere or do they have to be on site and managed again another essential factor is the management and guidance of the uh worker and after that finally when is it a specific project is it a six-month job six years all of this is workable however it needs to be recorded and it has to be thoroughly 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 survey list for the worker the employee fills out and fills these questions out and so does the end client or the recipient of the services they both put their info into the tool and then it does an examination waiting the various concerns because not every jurisdiction has the very same feeling about some of these questions some think they’re more vital than others and it brings out a red yellow or green red you’re probably an employee yellow you’re on the cusp we can most likely assist you with that in terms of some of the things you require to strengthen to make certain that you are given that examination of uh independent contractor or green where you were examined as an as a independent contractor once that assessment is done all the requisite files are underneath it so that if later on there
Browsing the intricacies of worldwide employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our company current with modifications in regulations across jurisdictions. This guarantees that our payroll procedures stick to the latest requirements, minimizing the risk of non-compliance and associated penalties.
Papaya Global Calender 2017 18 and Time Cost Savings:
The software application’s automation capabilities have actually significantly minimized the time and effort needed for payroll processing. Manual data entry and recurring tasks have actually been reduced, allowing our financing team to focus on strategic initiatives instead of administrative problems. This has actually led to increased efficiency and productivity within our monetary operations.
in one since each state has its own policies Californians are a few of the most rigorous an example is pay slips on a payslip in California the best details has to be on the payslip in the ideal format and in the ideal position if you remain in breach of of guidelines 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 of and we’re just two concerns in and 10 minutes or so employing in one country is hard enough however when hiring in a you understand on an international level it’s a completely different story you require to make certain that you’re up to date with present in addition to pending local labor laws Steve um how do you make certain and guarantee that the people 2.0 group is on top of an ever-changing landscape and that your clients are fully supported and I’ll organize this into 3 key things we carry out in first and foremost you require to have the ideal group so we hire a group of international specialists in Employment Practices um that ex that team of specialists includes legal representatives it includes payroll professionals it consists of HR professionals and these are individuals that not just know the laws in these in these nations and regions but they likewise know the languages they understand the regional practices they know the cultures and it is very important to have that best team and genuinely have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to accurate and prompt monetary information is crucial for decision-making. The platform’s reporting capabilities empower me to make informed strategic decisions based on 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 tested 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 regulations which has actually had different strands of that legislation tested particularly around vacation pay and obviously as Kathy’s going to come on to talk about later on work status which there’s been several precedence set for many years so I believe it’s actually that continuous development of the work law landscape that you truly require to browse when when working in Europe fine thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each country has different policies however the United States is essentially 50 nations
Scalability for Company Development:
Among the standout functions of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software flawlessly accommodates modifications in our workforce and payroll requirements. This scalability guarantees that our payroll facilities can adapt to the evolving requirements of our international organization.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Look who is our senior vice president of client services and I would state individually and collectively these three individuals have Years of experience in in work law and international Work Practices so thank you it’s an enjoyment to be with everybody here today sounds like we’ve got the right people with us today and in in addition to to those well we also have one of our own Stars erase share head of Global Solutions at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the company for around four and a half years as head of Partnerships I have developed 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 opportunity to relocate and work in three different nations it is the company’s obligation to guarantee my defense while residing in a foreign country compliance with regional laws and guidelines is essential for me or anybody else as an expat or as a regional so today we have invited our relied on Partners individuals 2.0 to show the importance of regional
knowledge when companies Go Global thank you and take pleasure in fine 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 of we’ll talk about the truths a company needs 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 regional regulations considerations when employing compliance key obstacles payments and what not to do it’s one of the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the larger a company grows the more they need to comprehend and manage understanding what to do in each brand-new circumstance as it rises is necessary on lots of levels understanding local policies and regional laws in addition to service practices helps mitigate Associated and global growth papaya through our regional experts can navigate possible risks such as intellectual property defense information personal privacy security concerns guaranteeing the business’s operations stay certified and safe and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has proven to be an important asset in our mission for effective and certified global payroll management. As the CFO of an international company, I am confident in advising Papaya Global to companies looking for to simplify their payroll processes, enhance compliance, and accomplish greater effectiveness in managing their global labor force. The software’s ingenious features and commitment to excellence line up with our strategic objectives, making it an important part of our monetary operations.
I discover time and time again the employees often misclassified unconsciously they do not comprehend the conditions of employment or agreement and are informed by the customer why it’s most advantageous mainly to the client why you should be employed or participated in this fashion the employee might owe taxes and Social Security to the authorities the future pension and health care advantages 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 contributed to pensions And so on so it’s a huge effect that they never understood they were strolling into you could not agree with you more if you state the UK for example hmrc can go back as much as ten years um Kathy companies are securing insurance coverage versus misclassification however typically premiums are only covering the expense of legal charges whilst the average claim evaluated against companies equates to to 40 or 50 percent of the base pay of employee exists any point in securing 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 charge and interest for the most part I haven’t 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 rejected coverage on the basis of the fact that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Calender 2017 18 …
The extensive features of come at a cost,
Over the past few decades, the labor force has gone through a considerable transformation with the development of remote work, which has actually eliminated geographical restraints on hiring. This has made it possible for companies to recruit talent from all over the world, allowing them to put together the best possible group for each function. As a result, staff members have acquired greater versatility to work from home and increase their incomes without having to move to expensive areas or commute fars away. According to a 2022 survey, 87% of staff members who have the alternative to work from another location pick to do so. The COVID-19 pandemic, combined with improvements in business connectivity software application, has actually further sped up the shift towards remote work, even in industries that were initially hesitant to embrace the trend.
insights are valuable to us and and your fellow attendees so first things first though um let’s be familiar with everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I have actually had functions in all type of Industries retail and Appeal to Aerospace in all types of businesses start-up to matrixed environments across the globe I provided leadership and strategy to populations of more than 100,000 staff members on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
International I work across business male maning and constructing external relationships supporting Business customers and solutions and functioning as an advisor I wish to present our first Greg um visitor 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 said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal group and in fact work really carefully with our um HR department also to deal with numerous legal and HR matters that come up so truly excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our mission is to set you as HR professionals totally free to do terrific
While Papaya Global offers combinations with various HR and finance systems, the execution process was not without obstacles. Integrating the software with our existing infrastructure required additional modification, resulting in some hold-ups in the initial rollout.
Paying FAQs Papaya Global Calender 2017 18 2024
and some smaller sized subsidiaries within our organization found the rates to be on the higher side. As a global business, stabilizing the need for innovative functions with budget restrictions became a fragile workout.
Client Assistance Reaction Time:
There were circumstances where our teams faced concerns that required timely support. Nevertheless, the action time from’s client assistance team was not always as fast as desired, resulting in periodic hold-ups in concern resolution.
Our implementation of included a phased approach. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This enabled us to determine and address combination obstacles early on. As the software application ended up being more ingrained in our operations, we gradually expanded its usage to cover our entire worldwide labor force.
The automated functions streamlined our payroll processes, lowering the time invested in manual calculations and compliance tracking. Regular training sessions and ongoing assistance from Papaya helped our groups become competent users of the software, optimizing its potential for our company.
However, paying a workforce can be complex. It is especially challenging for companies who employ staff throughout several nations, as they should continuously consolidate different data streams, by hand track regional and nationwide labor and policies, and invest valuable time and resources to establish regional entities in brand-new locations. These companies are confronted with suboptimal, expensive choices, like opening a foreign subsidiary or hiring an expert work organization, which is a local firm that hires employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty recruiting qualified personnel, a boost 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.
offers a solution supporting all types of employment. It offers an end-to-end platform, from staff member onboarding and ongoing management to international payments and. It assists companies with labor law compliance in the jurisdictions in which they run, uses management of work advantages, and ensures data 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 complete webcast in order to receive your credits if you have any questions throughout the webcast please click the Q&A tab in your webinar controls and type the there a brand-new tab will open in your web browser with the webcast survey please make certain to finish 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 embark on a journey of data to policy achieving
360 degree staff member compliance where we’ll dive into the necessary aspects of the staff member compliance management model throughout the session we’ll check out real life obstacles genuine regional regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to protect your organization and workers while staying certified in an
Ever evolving regulative environment in the everchanging world of service and financing making sure compliance with payroll regulations is not only vital however also a legal necessary from the minute of employing to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance threats that have far-reaching consequences nevertheless with a deeper more nuanced understanding of their obligations companies can not just browse the elaborate landscape however also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to browse the complex Surface of compliance whether you’re a seasoned P expert a small company owner or someone brand-new to the field what I want to do before we begin and I think it’s actually crucial
In our quest to improve performance and precision in managing our global labor force, our international corporation turned to, a leading and labor force management software application. The transition aimed to streamline the complex task of handling across different countries, currencies, and compliance regulations.
One of the standout functions of is its robust compliance management system. The software application automatically updates itself to stick to ever-evolving tax and labor laws across numerous jurisdictions. This has actually been indispensable in guaranteeing that our processes stay certified in each country of operation.
is to state that the material here is not legal recommendations it is simply for your details please consult your legal team needs to you have any questions or concerns in relation to anything that we have actually discussed today our key take essential takeaways by the end of the webinar will be an understanding of employee compliance risks how to employ ly with self-confidence how to streamline data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we have actually.
serve as your hris or is sort of your core staff member record um to handle that staff member life process throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those employees and compensate them and advantages Administration module that enables you to assist manage the advantages you offer to your workers so really excited to be here represent um bamb booy jar and speak about this subject um and I think from my point of view I’ll I’ll most likely offer a great deal of a concentrate on the United States side of things when we talk about type of compliance so pleased to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a bit about papay international yes absolutely thank you Ian hey there everyone I’m Gina dorelis I’m the Work expert supervisor.
at I manage the employment Council in the United States APAC EMA and Israel region I also act as us Council for I’m certified in New York and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and workforce management as a Service work force provider to workers serving in over.
160 countries alright thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the introduction so it’s truly actually good to in fact see in the webinar chat where everyone’s in fact going to from today I can see that we have people in Las Vegas and Indiana already so if you want to carry on inform where you are that would be absolutely wonderful whilst we just wait on everybody else to sort of like join in there we go Chicago too well um so whil we’re doing that I’m waiting for everyone to sort of join I’ll just run us through the agenda um today we are going to go over working with Skill new higher Info Management termination compliance and automation wow the chat has got actually really hectic 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 actually going to have some actually fantastic commentary and questions throughout the uh the webinar as well alright so that’s the program then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their information is Papaya Global Calender 2017 18 diverse without fail and an.
Ever developing relationship that begins the minute an individual joins an organization it continues throughout their work and Beyond this journey can be divided into k to several essential stages whilst we’re actually you know that they’re used with us so on boarding daily operations settlement and benefits expert advancement then we get to the offboarding and even advocacy so it even happens after the worker has left your work throughout the journey companies are responsible for collecting keeping safeguarding worker data in compliance with data personal privacy regulations no matter where it is you’re operating around the world it typically includes executing protected information management systems and making sure strict adherence to local requirements to protect both the employee and the company the development of employee data and management c.