A CFO’s Perspective on Papaya Global Correct Version…
Papaya Global’s platform improves international workforce management for companies, guaranteeing compliance with local regulations and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes global payroll operations, supplying businesses with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of global business operations, managing payroll throughout borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a worldwide company, I comprehend the critical importance of effective and certified payroll management. In our pursuit of excellence, we have actually embraced innovative solutions to simplify our procedures, and one such transformative tool is Software.
The Obstacle of International Payroll:
International growth causes varied challenges, and payroll management is no exception. Differing tax regulations, differing work laws, and several currencies make it imperative for companies to embrace sophisticated services to ensure accuracy, compliance, and efficiency in payroll processing.
Software: A Comprehensive Solution:
workers so it’s truly essential to make sure that you’ve thought about from the start any post-termination limitations that you want to put into the agreement of work that they’re enforceable so that means you need to really think about what it is you’re looking to secure 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 want to use and be truly able to to validate that in relation to copyright the position truly depends on the type of copyright you’re looking to secure and also the jurisdiction so for instance from a copyright viewpoint in the Netherlands the end customer is more likely to have the um copyright rights in a copyright that the employees produced who’s been under their guidance and control immediately nevertheless in somewhere like Poland for example that automated right may not be there and that project would require to flow through the chain uh contractually so it really depends upon the jurisdiction and the type of IP alright thank you Elizabeth Steve was staying on the topic of agreements Miss classified misclassifying employees
Papaya Global Software application has become a game-changer in the world of global payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, user-friendly user interface. As the CFO, I have actually seen firsthand the favorable effect of on our organization’s monetary operations.
Unified International Payroll Processing:
allows our business to procedure payroll perfectly throughout multiple countries. The platform’s unified technique enables constant payroll calculations, reducing mistakes and making sure compliance with local regulations. This has significantly mitigated the dangers associated with international payroll processing.
likewise key for if later somebody says misclassification you have your file supported by the requisite files which the ideal evaluation tools to reveal somebody that you had a thoughtful procedure and so what do you have to consist of in that process it’s the who the what the where and the when who are you handling are you dealing with a specific 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 specialist than an employee so for instance accounting
I.T engineering the creatives these all provide 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 managed again another key aspect is the management and supervision of the uh employee and after that lastly when is it a specific project is it a six-month project 6 years all of this is workable however it has to be documented 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 internationally these tools take a survey list for the employee the worker completes and fills these questions out therefore does completion customer or the recipient of the services they both put their information into the tool and then it does an assessment waiting the various questions since not every jurisdiction has the exact same sensation about some of these concerns some believe they’re more crucial than others and it brings out a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can most likely assist you with that in regards to a few of the things you require to reinforce to make certain that you are considered that evaluation of uh independent contractor or green where you were assessed as an as a independent specialist once that evaluation is done all the requisite files are underneath it so that if in the future there
Browsing the intricacies of international work laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our company up-to-date with changes in policies throughout jurisdictions. This ensures that our payroll procedures adhere to the latest standards, reducing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting companies and legal companies who assist us keep our databases completely as much as date and we likewise get in touch with we require to when we see an uncommon or or particularly complicated situations alright thanks Steve I can just see a quick concern in the Q a window yes the session will be recorded and sent to guests later on 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 example 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 design isn’t managed yes Ian employee leasing or labor leasing as it’s also called which prevails in a number of countries specifically in Europe imposes strict policies on products such as the length of task it likewise appoints workers to collective bargaining agreements that gives them rights and benefits however even in the countries that do not have those stringent guidelines for example the UK Canada and the nordics there are guidelines for each nation and each employee is treated the same as all the other employees in that country and all those regulations need to be complied with all right thank you Ray um Kathy moving I would state to yourself what do companies require to factor in when determining contract status to secure themselves and the rights of hires what are the pros and cons of employing contractors and Freelancers versus long-term workers so clearly the the advantage of professionals versus employees is the the flexibility for both the worker and for the company um but I can’t worry enough how crucial it is to have a consistent extensive and a well-documented compliance
Papaya Global Correct Version and Time Savings:
The software application’s automation abilities have substantially minimized the time and effort needed for payroll processing. Handbook data entry and repetitive tasks have been decreased, permitting our finance group to focus on tactical initiatives rather than administrative concerns. This has actually led to increased performance and efficiency within our financial operations.
in one since each state has its own guidelines Californians are a few of the most stringent an example is pay slips on a payslip in California the ideal info has to be on the payslip in the ideal format and in the right position if you’re in breach of of policies for payslips the fines are issued per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to fret to consider and we’re just 2 questions in and 10 minutes or two hiring in one nation is tough enough but when employing in a you understand on a global level it’s a completely different story you need to make sure that you’re up to date with existing as well as pending regional labor laws Steve um how do you ensure and make sure that individuals 2.0 group is on top of an ever-changing landscape which your clients are fully supported and I’ll organize this into three key things we perform in first and foremost you require to have the right group so we work with a team of global experts in Employment Practices um that ex that group of professionals includes attorneys it includes payroll professionals it includes HR specialists and these are people that not only understand the laws in these in these countries and areas but they also understand the languages they know the local practices they know the cultures and it is necessary to have that best team and genuinely have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides detailed real-time analytics and reporting tools. As a CFO, having access to precise and timely financial information is important for decision-making. The platform’s reporting capabilities empower me to make informed tactical decisions based upon real-time insights into our international payroll information.
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 obtained rights directive otherwise called the 2p guidelines in the UK the working time regulations which has had numerous hairs of that legislation checked particularly around holiday pay and obviously as Kathy’s going to come on to discuss later on work status which there’s been several precedence set over the years so I believe it’s truly that continuous development of the employment law landscape that you really require to navigate when when operating in Europe fine thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each nation has various regulations but the United States is basically 50 nations
Scalability for Company Development:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into new markets, the software seamlessly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the progressing requirements of our worldwide organization.
Global Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Gander who is our senior vice president of client services and I would state individually and collectively these three people have Decades of experience in in employment law and worldwide Employment Practices so thank you it’s a pleasure to be with everybody 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 one of our own Stars erase share head of Global Solutions at papaya Worldwide tell us about yourself thank you Elin Ian hi my name is Elite I’ve been with the company for around 4 and a half years as head of Collaborations I have developed Papaya’s network of in-country Partners in over 160 locations on an individual element and related to our subject today I have actually had the opportunity to relocate and work in three different nations it is the company’s duty to ensure my defense 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 regional so today we have welcomed our trusted Partners individuals 2.0 to show the importance of local
competence when business Go Global thank you and delight in alright thank you as I stated let’s proceed to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking of we’ll talk about the facts a company requires to consider when opening a new entity and expanding into brand-new countries along with keeping things going we’ll cover aspects such as local guidelines considerations when hiring compliance essential difficulties payments and what not to do it’s one of the most important things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a business grows the more they require to understand and handle understanding what to do in each new situation as it rises is necessary on numerous levels understanding local regulations and regional laws in addition to organization practices assists alleviate Associated and international growth papaya through our local experts can browse potential dangers such as intellectual property protection data personal privacy security issues guaranteeing the business’s operations remain compliant and safe and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has shown to be an invaluable property in our quest for efficient and certified international payroll management. As the CFO of a global business, I am positive in recommending Papaya Global to companies looking for to improve their payroll processes, boost compliance, and achieve higher performance in managing their global labor force. The software’s innovative functions and commitment to excellence align with our strategic goals, making it an important part of our financial operations.
I discover time and time again the workers often misclassified unknowingly they don’t comprehend the conditions of work or agreement and are told by the customer why it’s most advantageous generally to the customer why you should be employed or participated in this fashion the employee may owe taxes and Social Security to the authorities the future pension and health care privileges 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 actually gone by they have not added to pensions Etc so it’s a big effect that they never ever knew they were strolling 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 getting insurance against misclassification however generally premiums are just covering the cost of legal fees whilst the average claim assessed against companies equates to to 40 or half of the base salary of employee is there any point in securing insurance coverage and what is the alternative yeah to your point um you do need to check out the fine print it is not covering the taxes penalty and interest for the most part 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 stating is is that if your compliance program is not up to pack you could be denied protection on the basis of the reality that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Correct Version …
The extensive features of come at an expense,
Current years have seen a remarkable modification to the workforce as the rise of remote work has actually broken down geographical barriers to hiring. Businesses can now employ staff from anywhere worldwide, enabling them to access the best offered talent for any provided function. This provides workers more liberty to work from home and increase their income without moving to expensive locations or travelling long distances. A 2022 study discovered that 87% of workers who have the possibility to work remotely take that opportunity. The break out of COVID-19, in conjunction with brand-new enterprise connection software, sped up the transfer to remote work, including in industries previously hesitant to welcome the pattern.
insights are important to us and and your fellow attendees so first things first 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 type of Industries retail and Charm to Aerospace in all kinds of businesses start-up to matrixed environments around the world I provided management and method to populations of more than 100,000 workers on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Worldwide I work across business guy maning and building external relationships supporting Business customers and services and acting as a consultant I ‘d like to introduce 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 stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal team and in fact work very closely with our um HR department too to handle various legal and HR matters that show up so really delighted 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 free to do great
Although Papaya Global offers combinations with various HR and finance systems, we experienced some hurdles throughout the combination procedure. Customizing the software to line up with our existing facilities showed to be more complex than anticipated, leading to hold-ups in the preliminary rollout.
The extensive functions used by Papaya Global come at an expense, which a few of our smaller sized subsidiaries found to be prohibitively expensive. As an international company, we needed to thoroughly weigh the need for sophisticated performance versus spending plan restraints.
Support Reaction Time:
On occasion, our teams experienced concerns that needed urgent assistance. Nevertheless, the response time from Papaya Global’s customer support team was not constantly as timely as we would have liked, causing hold-ups in dealing with those issues.
Our execution of involved a phased method. We started by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing processes. This allowed us to determine and address combination obstacles early on. As the software became more instilled in our operations, we gradually expanded its usage to cover our entire international labor force.
The automated features structured our payroll procedures, minimizing the time invested in manual estimations and compliance tracking. Regular training sessions and continuous assistance from Papaya helped our groups become proficient users of the software, optimizing its capacity for our organization.
Companies that worker workers throughout numerous nations typically face elaborate difficulties when it comes to handling their labor force. Among the most significant hurdles is consolidating different data streams and sticking to varied regional and nationwide labor policies, which can be both time-consuming and expensive. Moreover, establishing regional entities in new areas can be an expensive and suboptimal choice, with options such as opening a foreign subsidiary or working with a professional employment organization (PEO) frequently charging up to 15% of the payroll. These difficulties have resulted in a significant boost in problem recruiting certified workers, with 75% of companies reporting this concern in 2022, a 21% increase from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers an option supporting all forms of employment. It provides an end-to-end platform, from employee onboarding and ongoing management to international payments and. It assists companies with labor law compliance in the jurisdictions in which they operate, uses management of work advantages, and makes sure data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading specialist in payroll and labor force management. She co-founded after seeing the innovation space in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to go to the total webcast in order to get 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 web browser with the webcast survey please make certain 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 discussion hello and thank you for joining us today we’re enjoyed have you here as we start a journey of data to policy attaining
360 degree staff member compliance where we’ll dive into the essential elements of the employee compliance management model throughout the session we’ll explore real life obstacles real local regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to safeguard your company and employees while staying certified in an
Ever progressing regulative environment in the everchanging world of business and finance ensuring compliance with payroll regulations is not just essential but likewise a legal vital from the moment of hiring to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance dangers that have significant repercussions nevertheless with a much deeper more nuanced understanding of their commitments organizations can not just browse the intricate landscape however also proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools necessary to navigate the complex Surface 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 actually crucial
In our mission to improve performance and accuracy in handling our international labor force, our international corporation turned to, a leading and labor force management software. The transition intended to simplify the complex task of managing throughout various countries, currencies, and compliance policies.
Among the standout functions of is its robust compliance management system. The software immediately updates itself to stick to ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been invaluable 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 information please consult your legal team must you have any questions or concerns in relation to anything that we have actually gone over today our key take key takeaways by the end of the webinar will be an understanding of employee compliance threats how to work with ly with self-confidence how to simplify information management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we’ve.
work as your hris or is sort of your core employee record um to manage that worker life cycle throughout their Journey with you as as a staff member in addition to a payroll module we need to help you pay those workers and compensate them and advantages Administration module that permits you to assist manage the advantages you supply to your employees so actually delighted to be here represent um bamb booy container and speak about this subject um and I think from my point of view I’ll I’ll most likely supply a lot of a focus on the US side of things when we speak about kind of compliance so happy to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and inform the audience a little bit about papay international yes absolutely thank you Ian hey there everyone I’m Gina dorelis I’m the Employment expert manager.
at I manage the work Council in the US APAC EMA and Israel region I likewise act as us Council for I’m accredited in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service work force supplier to employees serving in over.
160 countries alright thank you so both I feel totally underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the introduction so it’s actually truly great 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 currently so if you want to carry on inform where you are that would be absolutely fantastic whilst we simply await everyone else to sort of like participate in there we go Chicago also well um so whil we’re doing that I’m waiting on everybody to kind of join I’ll simply run us through the agenda um today we are going to talk about working with Talent new higher Details Management termination compliance and automation wow the chat has actually got really really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is fantastic so uh I’m hoping that we’re really going to have some really great commentary and questions throughout the uh the webinar as well alright so that’s the agenda then what I want to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their information is Papaya Global Correct Version multifaceted without fail and an.
Ever progressing relationship that begins the moment a person signs up with an organization it continues throughout their work and Beyond this journey can be divided into k to several key phases whilst we’re actually you know that they’re used with us so on boarding day-to-day operations payment and advantages professional advancement then we get to the offboarding and even advocacy so it even takes place after the employee has left your employment throughout the journey organizations are responsible for gathering keeping safeguarding employee data in compliance with data privacy regulations no matter where it is you’re operating around the globe it often involves executing safe and secure data management systems and guaranteeing stringent adherence to local requirements to secure both the worker and the company the evolution of staff member information and management c.