A CFO’s Perspective on Papaya Global Child Support…
The platform enables business to manage their worldwide labor force and abide by regional employment guidelines and tax laws. Papaya Global provides a variety of services, consisting of payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is designed to simplify the complexities of worldwide payroll and provide real-time presence and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New York, London, and Kiev.
In the vibrant landscape of global business operations, managing payroll throughout borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a global business, I comprehend the important value of efficient and certified payroll management. In our pursuit of quality, we have welcomed ingenious services to simplify our processes, and one such transformative tool is Software application.
The Challenge of International Payroll:
Global expansion produces varied difficulties, and payroll management is no exception. Differing tax regulations, differing work laws, and multiple currencies make it vital for companies to embrace sophisticated solutions to make sure accuracy, compliance, and efficiency in payroll processing.
Software: A Comprehensive Solution:
employees so it’s truly basic to make sure that you’ve thought about from the beginning any post-termination restrictions that you want to take into the contract of employment that they’re enforceable so that implies you require to actually think about what it is you’re wanting to protect and why clearly Specify what’s consisted of within the scope of that secret information and attend to the duration of limitation post-determination that you wish to use and be really able to to validate that in relation to intellectual property the position actually depends on the kind of copyright you’re wanting to protect and likewise the jurisdiction so for example from a copyright perspective in the Netherlands completion client is more likely to have the um copyright rights in a copyright that the workers produced who’s been under their supervision and control immediately nevertheless in someplace like Poland for instance that automatic right may not exist and that task would require to stream through the chain uh contractually so it truly depends upon the jurisdiction and the type of IP okay thank you Elizabeth Steve was staying on the subject of contracts Miss classified misclassifying employees
Papaya Global Software has become a game-changer in the world of international payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, user-friendly user interface. As the CFO, I have witnessed firsthand the favorable impact of on our company’s monetary operations.
Unified Global Payroll Processing:
allows our business to process payroll seamlessly throughout several countries. The platform’s unified technique enables consistent payroll calculations, lowering errors and guaranteeing compliance with regional regulations. This has actually considerably alleviated the dangers connected with global payroll processing.
also crucial for if later somebody says misclassification you have your file supported by the requisite files and that the best evaluation tools to reveal somebody that you had a thoughtful process therefore what do you need 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 an individual or are you dealing with a personal 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 a worker so for instance accounting
I.T crafting the creatives these all provide themselves more to that assessment of being freelancer you know 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 crucial element is the management and guidance of the uh worker and after that finally when is it a particular task is it a six-month job six years all of this is manageable however it needs to be recorded and it needs to be thoroughly um investigated so we have a tool we call it ic2 we had an ic1 and we’ve improved it this year so that we can roll it out worldwide these tools take a questionnaire list for the employee the worker submits and fills these questions out therefore does the end client or the recipient of the services they both put their details into the tool and after that it does an assessment waiting the various questions because not every jurisdiction has the same sensation about a few of these questions some believe they’re more crucial 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 probably assist you with that in regards to some of the important things you require to boost to make sure that you are considered that evaluation of uh independent specialist or green where you were assessed as an as a independent contractor once that evaluation is done all the requisite documents are underneath it so that if later there
Browsing the intricacies of international employment laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our organization updated with modifications in guidelines throughout jurisdictions. This makes sure that our payroll processes follow the most recent standards, minimizing the danger of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal firms who assist us keep our databases totally up to date and we also call on we need to when we see an unusual or or especially intricate scenarios okay thanks Steve I can simply see a fast question in the Q a window yes the session will be recorded and sent to attendees afterwards um moving back to to the webinar itself Ray employer of record is controlled in a different way around the globe and the German law for example it’s classed as employee leasing can you shed any light on some of the unique considerations for nations and where the eor model isn’t controlled yes Ian employee leasing or labor leasing as it’s likewise called which prevails in numerous nations specifically in Europe imposes strict regulations on products such as the length of project it also appoints workers to collective bargaining agreements that gives them rights and benefits but even in the countries that do not have those strict guidelines for instance the UK Canada and the nordics there are policies for each country and each worker is dealt with the like all the other workers because country and all those policies need to be complied with all right thank you Ray um Kathy moving I would say to yourself what do business need to factor in when identifying contract status to protect themselves and the rights of hires what are the advantages and disadvantages of employing contractors and Freelancers versus irreversible staff members so clearly the the benefit of professionals versus employees is the the versatility for both the employee and for the company um however I can’t worry enough how essential it is to have a constant comprehensive and a well-documented compliance
Papaya Global Child Support and Time Savings:
The software application’s automation capabilities have actually considerably lowered the time and effort needed for payroll processing. Manual data entry and repeated jobs have been minimized, allowing our financing group to focus on strategic initiatives rather than administrative problems. This has resulted in increased effectiveness and efficiency within our monetary operations.
in one because 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 ideal info needs to be on the payslip in the best format and in the right position if you remain in breach of of regulations for payslips the fines are issued per payslip so that’s each employee each pay slip will incur a great thanks Ray thank you Elizabeth a lot to worry to think about and we’re only 2 concerns in and 10 minutes or two working with in one nation is challenging enough however when working with in a you know on a global level it’s a totally different story you require to ensure that you’re up to date with present as well as pending regional labor laws Steve um how do you make certain and ensure that the people 2.0 team is on top of an ever-changing landscape which your customers are fully supported and I’ll organize this into three crucial things we carry out in first and foremost you require to have the best team so we work with a team of international professionals in Employment Practices um that ex that team of experts includes attorneys it consists of payroll experts it includes HR specialists and these are individuals that not just know the laws in these in these countries and areas however they likewise know the languages they understand the local practices they know the cultures and it is necessary to have that ideal team and really have the team on the ground uh working 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 timely financial information is essential for decision-making. The platform’s reporting capabilities empower me to make informed tactical choices based upon real-time insights into our international payroll information.
application and its scope and the way that 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 gotten rights instruction otherwise called the 2p policies in the UK the working time policies which has actually had numerous strands of that legislation tested particularly around vacation pay and of course as Kathy’s going to come on to talk about later employment status which there’s been numerous precedence set over the years so I think it’s actually that consistent evolution of the work law landscape that you truly need to navigate when when working in Europe alright thank you Elizabeth Ray what about you from your individual experience while moving across the pond as pointed out each country has various guidelines but the United States is essentially 50 nations
Scalability for Business Development:
Among the standout functions of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software perfectly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll facilities can adapt to the progressing needs of our global organization.
International Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Look who is our senior vice president of client services and I would state separately and jointly these 3 people have Decades of experience in in employment law and worldwide Employment Practices so thank you it’s an enjoyment to be with everybody here today seems like we’ve 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 Worldwide tell 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 Collaborations I have actually established Papaya’s network of in-country Partners in over 160 places on a personal element and related to our subject today I’ve had the opportunity to relocate and operate in 3 various nations it is the business’s responsibility to guarantee my protection while living in a foreign nation compliance with local laws and guidelines is important for me or anybody else as an expat or as a local so today we have welcomed our relied on Partners people 2.0 to show the value of local
knowledge when business Go International thank you and take pleasure in okay thank you as I said let’s proceed to the pact agenda today’s webinar is an opportunity to ask the panel the questions you’ve been thinking of we’ll talk about the facts a company requires to consider when opening a new entity and expanding into brand-new nations in addition to keeping things going we’ll cover aspects such as regional guidelines factors to consider when hiring compliance crucial obstacles payments and what not to do it is among the most important things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a company grows the more they require to comprehend and manage knowing what to do in each new scenario as it increases is very important on many levels comprehending local guidelines and local laws as well as business practices assists reduce Associated and worldwide growth papaya through our local specialists can browse prospective dangers such as intellectual property defense information privacy security issues ensuring the company’s operations stay certified and safe tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has shown to be an invaluable asset in our quest for effective and certified international payroll management. As the CFO of a worldwide business, I am confident in recommending Papaya Global to organizations seeking to simplify their payroll procedures, enhance compliance, and accomplish higher effectiveness in managing their international workforce. The software application’s ingenious features and dedication to quality line up with our strategic goals, making it an important part of our financial operations.
I discover time and time again the employees often misclassified unconsciously they do not understand the conditions of work or agreement and are told by the customer why it’s optimum primarily to the client why you should be utilized or participated in this style the worker may owe taxes and Social Security to the authorities the future pension and healthcare benefits of the employee 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 gone by they haven’t added to pensions Etc so it’s a big effect that they never ever knew they were walking into you couldn’t agree with you more if you state the UK for instance hmrc can go back as much as ten years um Kathy business are getting insurance coverage against misclassification however normally premiums are only covering the cost of legal charges whilst the typical claim examined against companies corresponds to to 40 or 50 percent of the base pay of employee exists any point in taking out insurance coverage 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 in most cases I have not seen it a minimum of so uh the the other location that I do believe if you managed to get the coverage what we are stating is is that if your compliance program is not up to stuff you could be denied protection on the basis of the fact that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Child Support …
The extensive features of come at an expense,
Over the past few years, the workforce has actually undergone a significant improvement with the introduction of remote work, which has gotten rid of geographical constraints on hiring. This has enabled companies to hire talent from all over the world, permitting them to put together the best possible team for each function. As a result, workers have actually gotten higher versatility to work from home and increase their revenues without needing to move to costly locations or commute cross countries. According to a 2022 study, 87% of staff members who have the alternative to work remotely pick to do so. The COVID-19 pandemic, integrated with advancements in enterprise connectivity software, has actually further sped up the shift towards remote work, even in industries that were at first reluctant to embrace the pattern.
insights are valuable to us and and your fellow participants so first things first though um let’s be familiar with everyone my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had roles in all sort of Industries retail and Charm to Aerospace in all types of businesses start-up to matrixed environments across the globe I supplied leadership and strategy to populations of more than 100,000 employees on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout business guy maning and developing external relationships supporting Enterprise customers and solutions and serving as an advisor I want to introduce our 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 actually work extremely closely with our um HR department also to handle numerous legal and HR matters that turn up so truly thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our mission is to set you as HR experts totally free to do terrific
While Papaya Global offers integrations with numerous HR and finance systems, the application procedure was not without obstacles. Incorporating the software with our existing facilities needed additional personalization, leading to some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Child Support 2024
and some smaller subsidiaries within our organization discovered the prices to be on the higher side. As a worldwide company, stabilizing the need for innovative functions with spending plan restraints became a fragile exercise.
Customer Assistance Response Time:
There were instances where our teams dealt with issues that required prompt help. However, the response time from’s customer assistance group was not constantly as quick as desired, leading to periodic delays in issue resolution.
Our implementation of included a phased approach. We started by onboarding a few subsidiaries to test the system’s compatibility with our existing processes. This allowed us to identify and attend to combination difficulties early on. As the software ended up being more instilled in our operations, we gradually expanded its usage to cover our whole global workforce.
The automated functions streamlined our payroll processes, lowering the time spent on manual calculations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our groups become competent users of the software application, maximizing its capacity for our organization.
Nevertheless, paying a workforce can be complicated. It is particularly challenging for companies who utilize staff across multiple nations, as they need to continuously combine different information streams, by hand track regional and national labor and regulations, and invest important time and resources to set up local entities in brand-new locations. These companies are faced with suboptimal, costly options, like opening a foreign subsidiary or hiring a professional work organization, which is a local firm that hires staff members on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty recruiting qualified personnel, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers a service supporting all forms of work. It offers an end-to-end platform, from employee onboarding and ongoing management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, uses management of employment advantages, and guarantees 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 specialist in payroll and workforce management. She co-founded after seeing the innovation space in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to go to the complete webcast in order to receive your credits if you have any concerns throughout the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your browser with the webcast survey please be sure to complete 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 hi and thank you for joining us today we’re thrilled to have you here as we start a journey of information to policy achieving
360 degree employee compliance where we’ll dive into the essential elements of the staff member compliance management design throughout the session we’ll explore real world obstacles real local guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to secure your organization and workers while remaining certified in an
Ever evolving regulatory environment in the everchanging world of organization and financing ensuring compliance with payroll guidelines is not just important however also a legal essential from the moment of working with to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance dangers that have far-reaching repercussions nevertheless with a much deeper more nuanced understanding of their responsibilities companies can not only navigate the detailed landscape however likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the understanding and tools necessary to browse the complex Terrain of compliance whether you’re a seasoned P expert a small company owner or somebody new to the field what I want to do before we start and I believe it’s truly important
In our quest to boost effectiveness and precision in handling our international labor force, our international corporation turned to, a leading and labor force management software application. The shift aimed to streamline the complex job of managing throughout different countries, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software application automatically updates itself to adhere to ever-evolving tax and labor laws throughout several jurisdictions. This has actually been invaluable in making sure that our processes stay certified in each nation of operation.
is to state that the material here is illegal suggestions it is merely for your details please consult your legal team ought to you have any concerns or issues in relation to anything that we’ve talked about today our secret take essential takeaways by the end of the webinar will be an understanding of staff member compliance threats how to employ 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’ve.
function as your hris or is kind of your core worker record um to handle that worker life cycle throughout their Journey with you as as a worker in addition to a payroll module we need to assist you pay those staff members and compensate them and advantages Administration module that enables you to assist manage the advantages you offer to your staff members so really thrilled to be here represent um bamb booy container and talk about this subject um and I think from my point of view I’ll I’ll probably provide a lot of a concentrate on the US side of things when we discuss sort of compliance so happy to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and tell the audience a bit about papay global yes absolutely thank you Ian hello everybody I’m Gina dorelis I’m the Work expert manager.
at I handle the work Council in the US APAC EMA and Israel region I also act as us Council for I’m accredited in New York and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service labor force provider to employees serving in over.
160 countries fine thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were kind of like going through the intro so it’s actually actually nice to actually see in the webinar chat where everyone’s actually participating in from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to carry on tell where you are that would be definitely fantastic whilst we simply wait for 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 kind of join I’ll simply run us through the program um today we are going to discuss working with Skill brand-new higher Details Management termination compliance and automation wow the chat has got really truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely everywhere which is great so uh I’m hoping that we’re really going to have some really excellent commentary and concerns throughout the uh the webinar too fine so that’s the program then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their data is Papaya Global Child Support multifaceted without fail and an.
Ever evolving relationship that begins the moment a person signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to numerous essential stages whilst we’re really you understand that they’re utilized with us so on boarding daily operations compensation and benefits professional advancement then we get to the offboarding and even advocacy so it even takes place after the employee has actually left your employment throughout the journey companies are responsible for gathering saving safeguarding worker information in compliance with data privacy regulations no matter where it is you’re running around the globe it frequently involves implementing safe and secure data management systems and guaranteeing stringent adherence to local requirements to secure both the worker and the organization the development of staff member data and management c.