A CFO’s Viewpoint on Papaya Global Demo Download…
Papaya Global’s platform improves worldwide workforce management for companies, guaranteeing compliance with local policies and tax laws. Their services encompass payroll processing, benefits administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes worldwide payroll operations, offering organizations with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of global company operations, managing payroll throughout borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of an international company, I comprehend the vital significance of efficient and certified payroll management. In our pursuit of quality, we have welcomed ingenious options to improve our processes, and one such transformative tool is Software.
The Difficulty of Global Payroll:
Global growth produces diverse obstacles, and payroll management is no exception. Differing tax guidelines, differing employment laws, and numerous currencies make it necessary for companies to embrace sophisticated solutions to make sure precision, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Solution:
It is important to think about and consist of post-termination constraints in the employment agreement to guarantee enforceability. You need to carefully identify what you are seeking to protect and clearly specify the secret information that falls within its scope. Additionally, specify the period of the post-termination limitation and be prepared to justify it in relation to copyright. The rules relating to copyright vary depending upon the type of IP and the jurisdiction. For instance, in the Netherlands, completion client is likely to have copyright rights over works produced by workers under their guidance, while in Poland, legal project may be necessary.
Papaya Global Software has actually emerged as 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, easy to use interface. As the CFO, I have actually experienced firsthand the positive impact of on our organization’s monetary operations.
Unified Worldwide Payroll Processing:
allows our company to procedure payroll effortlessly throughout numerous nations. The platform’s unified method permits constant payroll calculations, decreasing errors and guaranteeing compliance with regional guidelines. This has considerably alleviated the threats related to global payroll processing.
likewise crucial for if later someone states misclassification you have your file supported by the requisite files and that the ideal examination tools to show somebody that you had a thoughtful process therefore what do you need to consist of in that procedure it’s the who the what the where and the when who are you dealing with 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 kind of work that lends itself more to being an independent professional than a staff member so for example accounting
I.T engineering the creatives these all provide themselves more to that evaluation of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they need to be on site and handled again another crucial factor is the management and guidance of the uh employee and after that finally when is it a specific job is it a six-month job 6 years all of this is manageable but it has to be documented and it has to be completely um investigated so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out globally these tools take a questionnaire list for the worker the employee fills out and fills these concerns out therefore does completion client or the recipient of the services they both put their information into the tool and after that it does an assessment waiting the various concerns due to the fact that not every jurisdiction has the same feeling about some of these questions some believe they’re more vital than others and it brings out a red yellow or green red you’re probably a worker yellow you’re on the cusp we can most likely help you with that in terms of a few of the important things you need to strengthen to ensure that you are considered that evaluation of uh independent specialist or green where you were examined as an as a independent contractor once that examination is done all the requisite documents are beneath it so that if later there
Browsing the intricacies of worldwide employment laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization current with changes in guidelines throughout jurisdictions. This guarantees that our payroll procedures comply with the most recent requirements, minimizing the risk of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal companies who help us keep our databases completely approximately date and we likewise contact we require to when we see an unusual or or especially intricate scenarios fine thanks Steve I can just see a fast concern in the Q a window yes the session will be tape-recorded and sent out to guests afterwards um moving back to to the webinar itself Ray employer of record is regulated in a different way all over the world and the German law for example it’s classed as employee leasing can you shed any light on some of the special factors to consider for countries and where the eor model isn’t controlled yes Ian worker leasing or labor leasing as it’s also called which is prevalent in numerous countries especially in Europe imposes strict guidelines on items such as the length of task it likewise appoints employees to collective bargaining contracts that provides rights and benefits but even in the nations that don’t have those stringent policies for instance the UK Canada and the nordics there are policies for each nation and each worker is treated the same as all the other workers in that country and all those regulations require to be complied with fine thank you Ray um Kathy moving I would state to yourself what do companies need to factor in when identifying agreement status to secure themselves and the rights of hires what are the pros and cons of working with specialists and Freelancers versus long-term staff members so clearly the the benefit of specialists versus employees is the the versatility for both the worker and for the employer um but I can’t worry enough how essential it is to have a constant thorough and a well-documented compliance
Papaya Global Demo Download and Time Cost Savings:
The software’s automation capabilities have actually significantly lowered the time and effort required for payroll processing. Manual data entry and repeated jobs have actually been minimized, enabling our financing group to focus on strategic efforts instead of administrative problems. This has actually resulted in increased effectiveness and performance within our financial operations.
in one considering that each state has its own guidelines Californians are some of the most rigorous an example is pay slips on a payslip in California the right info needs to be on the payslip in the best format and in the best position if you’re in breach of of guidelines 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 fret to think about and we’re only two questions in and 10 minutes approximately hiring in one country is challenging enough however when employing in a you know on an international level it’s an entirely various story you require to make sure that you depend on date with current along with 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 and that your customers are fully supported and I’ll arrange this into 3 key things we perform in primarily you need to have the ideal team so we hire a team of international experts in Work Practices um that ex that group of experts consists of lawyers it consists of payroll professionals it includes HR experts and these are people that not only understand the laws in these in these nations and areas however they also understand the languages they understand the regional practices they understand the cultures and it is very important to have that ideal group and truly have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides thorough real-time analytics and reporting tools. As a CFO, having access to accurate and timely monetary information is important for decision-making. The platform’s reporting capabilities empower me to make informed strategic decisions based on 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 acquired rights regulation otherwise referred to as the 2p guidelines in the UK the working time guidelines which has had different strands of that legislation checked particularly around holiday pay and obviously as Kathy’s going to come on to talk about later work status which there’s been numerous precedence set throughout the years so I believe it’s truly that constant evolution of the work law landscape that you truly need to browse when when operating in Europe all right thank you Elizabeth Ray what about you from your personal experience while crossing the pond as pointed out each country has various policies however the United States is basically 50 nations
Scalability for Company Growth:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software seamlessly accommodates changes in our labor force and payroll requirements. This scalability guarantees that our payroll facilities can adapt to the developing requirements of our global company.
Global 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 customer service and I would say separately and collectively these three individuals have Decades of experience in in employment law and international Work Practices so thank you it’s an enjoyment to be with everyone here today sounds like we have actually got the right people with us today and in in addition to to those well we also have one of our own Stars delete share head of Global Solutions at papaya International tell us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business for around four and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 locations on a personal aspect and related to our subject today I have actually had the chance to transfer and work in three different nations it is the company’s responsibility to ensure my security while living in a foreign country compliance with local laws and guidelines is essential for me or anyone else as an expat or as a regional so today we have invited our relied on Partners individuals 2.0 to show the significance of local
expertise when companies Go Global thank you and take pleasure in alright thank you as I said let’s move on to the pact program today’s webinar is a chance to ask the panel the questions you have actually been thinking about we’ll talk about the realities a company needs to think about when opening a brand-new entity and expanding into brand-new countries in addition to keeping things going we’ll cover elements such as regional regulations factors to consider when working with compliance key obstacles payments and what not to do it is among the most crucial things remembering what not to do um operating on a worldwide level is not for the faint-hearted the larger a business grows the more they require to understand and manage understanding what to do in each brand-new situation as it increases is important on many levels comprehending regional guidelines and local laws in addition to company practices helps reduce Associated and global expansion papaya through our regional professionals can browse possible risks such as copyright defense information personal privacy security problems ensuring the business’s operations stay certified and protected tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has actually shown to be an important asset in our mission for effective and compliant worldwide payroll management. As the CFO of a global company, I am positive in suggesting Papaya Global to companies seeking to streamline their payroll processes, boost compliance, and attain greater performance in managing their global workforce. The software’s innovative functions and dedication to excellence align with our tactical objectives, making it an integral part of our financial operations.
publicly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly announced settlements there’s likewise significant legal expenses there’s there’s other charges there’s other expenses behind that too so the overall cost can be really significant in the 10s of millions of dollars or more and and those amounts are growing uh the reason business are getting it so wrong is truly just the guidelines are intricate and they’re changing all the time think ir-35 in the UK which has actually been an ongoing development for numerous years now and and still a lot of uncertainty amongst companies on what it actually indicates and how you deal with it most employers are merely not aware of the rules and and act as if the the rules are the same all over which they’re not so so encourage you to to be really proactive as you’re engaging uh workers from a classification perspective okay thank you Stephen and returning to yourself Ray it’s not only the company that suffers in the long run what effects can this have on the staff member Papaya Global Demo Download especially when it concerns their own tax liabilities social security and advantages for instance jury and certainly the employees the opposite of the coin
I find time and time again the workers frequently misclassified unknowingly they don’t comprehend the conditions of employment or agreement and are informed by the client why it’s optimum mainly to the customer why you ought to be employed or participated in this style the worker may owe taxes and Social Security to the authorities the future pension and healthcare privileges of the worker can be impacted and numerous times it can be years before this all falls out and by that time it’s too late years have gone by they haven’t added to pensions And so on so it’s a huge impact that they never knew 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 just covering the expense of legal charges whilst the average claim assessed against employers relates to to 40 or 50 percent of the base salary of worker is there any point in getting insurance coverage and what is the alternative yeah to your point um you do require to check out the small print it is not covering the taxes charge and interest in most cases I have not seen it at least so uh the the other area 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 stuff you could be rejected protection on the basis of the truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Demo Download …
The thorough functions of come at a cost,
Current decades have seen a dramatic change to the workforce as the increase of remote work has actually broken down geographical barriers to hiring. Companies can now work with staff from anywhere worldwide, allowing them to access the best readily available talent for any given function. This gives workers more freedom to work from home and increase their earnings without moving to expensive areas or commuting fars away. A 2022 survey discovered that 87% of workers who have the possibility to work remotely take that chance. The break out of COVID-19, in conjunction with new enterprise connection software, accelerated the move to remote work, including in industries formerly hesitant to welcome the pattern.
insights are important to us and and your fellow guests so first things initially though um let’s be familiar with everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had roles in all kind of Industries retail and Appeal to Aerospace in all types of services startup to matrixed environments around the world I offered management and technique to populations of more than 100,000 staff members on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Worldwide I work across business man maning and developing external relationships supporting Enterprise clients and services and serving as a consultant I ‘d like to present our first Greg um visitor Greg who will kick things off by telling 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 business counsil at bambo HR so I lead our in-house legal team and really work really carefully with our um HR department as well to manage different legal and HR matters that come up so truly thrilled to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we say our objective is to set you as HR specialists complimentary to do fantastic
Although Papaya Global provides integrations with numerous HR and financing systems, we experienced some difficulties throughout the integration procedure. Customizing the software to align with our existing infrastructure proved to be more intricate than anticipated, leading to delays in the initial rollout.
The extensive features used by Papaya Global come at a cost, which some of our smaller subsidiaries discovered to be prohibitively expensive. As a global organization, we had to carefully weigh the need for sophisticated functionality against budget plan constraints.
Assistance Response Time:
On occasion, our teams experienced concerns that needed immediate help. However, the action time from Papaya Global’s customer assistance team was not always as prompt as we would have liked, causing delays in resolving those issues.
Our implementation of included a phased method. We started by onboarding a few subsidiaries to test the system’s compatibility with our existing procedures. This allowed us to identify and attend to integration obstacles early on. As the software application ended up being more ingrained in our operations, we gradually broadened its usage to cover our entire global labor force.
The automated features streamlined our payroll processes, decreasing the time spent on manual calculations and compliance tracking. Routine training sessions and ongoing support from Papaya assisted our groups become competent users of the software, optimizing its potential for our organization.
Business that staff member workers throughout numerous countries often face elaborate obstacles when it pertains to managing their workforce. One of the greatest difficulties is combining different information streams and sticking to diverse regional and nationwide labor policies, which can be both lengthy and expensive. Additionally, setting up local entities in brand-new areas can be an expensive and suboptimal choice, with alternatives such as opening a foreign subsidiary or hiring a professional employment company (PEO) often charging up to 15% of the payroll. These difficulties have actually caused a significant increase in problem recruiting certified personnel, with 75% of companies reporting this issue in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
uses a solution supporting all forms of work. It offers an end-to-end platform, from staff member onboarding and ongoing management to international payments and. It assists business with labor law compliance in the jurisdictions in which they operate, provides management of employment benefits, and guarantees 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 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 participate in the complete webcast in order to receive your credits if you have any concerns during the webcast please click 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 make certain 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 hey there and thank you for joining us today we’re enjoyed have you here as we start a journey of data to regulation achieving
360 degree employee compliance where we’ll dive into the essential aspects of the staff member compliance management design throughout the session we’ll check out real world challenges real regional guidelines best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to protect your company and employees while staying certified in an
Ever developing regulatory environment in the everchanging world of organization and finance guaranteeing compliance with payroll policies is not only essential however likewise a legal vital from the moment of employing to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance threats that have far-reaching repercussions nevertheless with a much deeper more nuanced understanding of their responsibilities companies can not just navigate the complex landscape however also proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to navigate the complex Surface of compliance whether you’re a seasoned P expert a small company owner or someone new to the field what I wish to do before we start and I believe it’s truly crucial
In our mission to enhance effectiveness and precision in managing our worldwide workforce, our multinational corporation turned to, a leading and labor force management software application. The transition intended to streamline the complex task of managing across various countries, currencies, and compliance regulations.
One of the standout features of is its robust compliance management system. The software application automatically updates itself to comply with ever-evolving tax and labor laws across multiple jurisdictions. This has actually been important in making sure that our processes stay compliant in each country of operation.
is to state that the content here is illegal guidance it is simply for your details please consult your legal group ought to you have any questions or concerns in relation to anything that we’ve talked about today our secret take crucial takeaways by the end of the webinar will be an understanding of worker compliance risks how to employ ly with confidence how to simplify data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
serve as your hris or is kind of your core staff member record um to handle that employee life cycle throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those staff members and compensate them and benefits Administration module that permits you to assist handle the advantages you provide to your employees so really thrilled to be here represent um bamb booy jar and discuss this subject um and I guess from my viewpoint I’ll I’ll probably supply a great deal of a concentrate on the United States side of things when we speak about sort of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to present yourself and tell the audience a little bit about papay global yes absolutely thank you Ian hey there everyone I’m Gina dorelis I’m the Work professional manager.
at I handle the work Council in the US APAC EMA and Israel region I also work as us Council for I’m licensed 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 work force supplier to workers serving in over.
160 countries all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the intro so it’s really truly great to in fact see in the webinar chat where everybody’s really attending from today I can see that we have individuals in Las Vegas and Indiana already so if you wish to continue tell where you are that would be definitely fantastic whilst we simply wait for everybody else to type of like participate in there we go Chicago too well um so whil we’re doing that I’m waiting on everybody to kind of join I’ll simply run us through the program um today we are going to discuss employing Skill brand-new higher Information Management termination compliance and automation wow the chat has got truly truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely everywhere which is fantastic so uh I’m hoping that we’re really going to have some actually terrific commentary and concerns throughout the uh the webinar too fine 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 an employee and their information is Papaya Global Demo Download multifaceted without fail and an.
Ever evolving relationship that starts the minute an individual joins a company it continues throughout their work and Beyond this journey can be divided into k to several essential stages whilst we’re actually you understand that they’re used with us so on boarding everyday operations settlement and benefits professional development then we get to the offboarding and even advocacy so it even takes place after the employee has left your employment throughout the journey companies are responsible for collecting keeping safeguarding worker information in compliance with information privacy regulations no matter where it is you’re operating worldwide it frequently involves carrying out secure data management systems and making sure strict adherence to local requirements to secure both the employee and the company the evolution of employee information and management c.