A CFO’s Point of view on Papaya Global End Of Year 2019…
Papaya Global’s platform simplifies worldwide workforce management for companies, making sure compliance with local guidelines and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and attendance tracking, and HR support. The platform centralizes worldwide payroll operations, supplying businesses with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of international business operations, managing payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a global business, I comprehend the important significance of efficient and compliant payroll management. In our pursuit of excellence, we have actually accepted ingenious services to streamline our processes, and one such transformative tool is Software.
The Obstacle of Global Payroll:
Global expansion produces varied challenges, and payroll management is no exception. Differing tax policies, differing work laws, and multiple currencies make it necessary for organizations to embrace advanced services to ensure precision, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Service:
workers so it’s really essential to ensure that you’ve considered from the outset any post-termination constraints that you wish to put into the contract of work that they’re enforceable so that indicates you need to really consider what it is you’re wanting to protect and why clearly Specify what’s consisted of within the scope of that confidential information and resolve the period of restriction post-determination that you want to apply and be actually able to to validate that in relation to copyright the position really depends upon the type of copyright you’re aiming to safeguard and also the jurisdiction so for example from a copyright viewpoint in the Netherlands completion client is more likely to have the um intellectual property rights in a copyright that the employees produced who’s been under their guidance and control automatically nevertheless in somewhere like Poland for instance that automated right might not exist which project would need to flow through the chain uh contractually so it actually depends upon the jurisdiction and the kind of IP okay thank you Elizabeth Steve was remaining on the topic of contracts Miss categorized misclassifying staff members
Papaya Global Software has actually emerged as a game-changer in the world of international payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, easy to use interface. As the CFO, I have experienced firsthand the favorable impact of on our organization’s financial operations.
Unified Worldwide Payroll Processing:
allows our business to process payroll seamlessly across numerous nations. The platform’s unified method allows for consistent payroll estimations, decreasing errors and making sure compliance with local guidelines. This has significantly alleviated the dangers connected with international payroll processing.
also crucial for if later on somebody states misclassification you have your file supported by the requisite documents and that the right examination tools to show someone that you had a thoughtful process therefore what do you have to include because 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 lends itself more to being an independent specialist than an employee so for instance accounting
I.T crafting the creatives these all lend themselves more to that evaluation of being freelancer you know also uh where are they doing it can they work from anywhere or do they need to be on site and managed once again another key factor is the management and supervision of the uh employee and then finally when is it a specific project is it a six-month project 6 years all of this is workable but it has to be documented and it needs 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 internationally these tools take a survey list for the employee the employee completes and fills these questions out and so does completion customer or the recipient of the services they both put their info into the tool and then it does an assessment waiting the various concerns due to the fact that not every jurisdiction has the same sensation about some of these concerns some believe they’re more crucial than others and it comes out with a red yellow or green red you’re probably a worker yellow you’re on the cusp we can probably help you with that in terms of a few of the things you require to bolster to ensure that you are given that assessment of uh independent specialist or green where you were assessed as an as a independent contractor once that evaluation is done all the requisite files are beneath it so that if later there
Browsing the intricacies of global employment laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our organization updated with modifications in regulations throughout jurisdictions. This makes sure that our payroll processes stick to the most recent standards, reducing the risk of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal firms who help us keep our databases totally up to date and we also call on we require to when we see an unusual or or especially complex situations fine thanks Steve I can just see a fast question in the Q a window yes the session will be taped and sent out to participants afterwards um returning to to the webinar itself Ray employer of record is managed in a different way worldwide and the German law for instance it’s classed as worker leasing can you shed any light on some of the unique factors to consider for countries and where the eor design isn’t controlled yes Ian employee leasing or labor leasing as it’s also called which prevails in several countries especially in Europe imposes strict policies on items such as the length of task it also appoints employees to collective bargaining agreements that provides rights and advantages however even in the countries that do not have those stringent regulations for instance the UK Canada and the nordics there are policies for each nation and each worker is dealt with the like all the other workers in that nation and all those guidelines require to be followed all right thank you Ray um Kathy moving I would state to yourself what do business require to factor in when figuring out contract status to safeguard themselves and the rights of hires what are the pros and cons of hiring specialists and Freelancers versus permanent staff members so certainly the the benefit of specialists versus workers is the the versatility for both the worker and for the employer um however I can’t worry enough how important it is to have a consistent comprehensive and a well-documented compliance
Papaya Global End Of Year 2019 and Time Cost Savings:
The software application’s automation abilities have actually substantially lowered the time and effort needed for payroll processing. Handbook information entry and repeated tasks have been reduced, allowing our finance team to concentrate on strategic initiatives instead of administrative problems. This has actually resulted in increased efficiency and productivity within our monetary operations.
in one considering that each state has its own regulations Californians are some of the most stringent an example is pay slips on a payslip in California the right info has to be on the payslip in the right format and in the right position if you remain in breach of of regulations for payslips the fines are provided per payslip so that’s each staff member each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to fret to think of and we’re just two concerns in and 10 minutes approximately hiring in one nation is tough enough however when hiring in a you know on a worldwide level it’s a completely various story you require to make certain that you depend on date with present along with pending regional labor laws Steve um how do you ensure and ensure that individuals 2.0 group is on top of an ever-changing landscape and that your customers are fully supported and I’ll arrange this into three key things we do in firstly you require to have the right group so we work with a team of global experts in Work Practices um that ex that group of professionals includes attorneys it consists of payroll professionals it includes HR specialists and these are people that not only understand 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’s important to have that best group and genuinely have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and timely financial data is important for decision-making. The platform’s reporting abilities empower me to make informed strategic choices based upon real-time insights into our global payroll information.
The practical application and level of the application to employment law can be assessed through the legal system using case law examples. For instance, the obtained rights regulation, likewise known as the 2p guidelines in the UK, and the working time regulations have actually been subject to different legal analyses, particularly relating to holiday pay. Furthermore, the principle of employment status has actually seen several legal precedents over the
Scalability for Organization Development:
Among the standout functions of Papaya Global is its scalability. As our business continues to grow and broaden into new markets, the software application flawlessly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll facilities can adapt to the developing requirements of our worldwide organization.
Global 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 three people have Years of experience in in employment law and international Work Practices so thank you it’s an enjoyment 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 likewise have one of our own Stars delete share head of Global Services at papaya International inform us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the business for around four and a half years as head of Partnerships I have actually developed Papaya’s network of in-country Partners in over 160 areas on a personal element and related to our subject today I’ve had the chance to relocate and operate in 3 different nations it is the company’s responsibility to ensure my protection while residing in a foreign country compliance with regional laws and policies is essential for me or anybody else as an expat or as a local so today we have actually welcomed our trusted Partners individuals 2.0 to show the importance of regional
know-how when companies Go Worldwide thank you and delight in all right thank you as I stated let’s carry on to the pact agenda today’s webinar is a chance to ask the panel the concerns you have actually been thinking about we’ll go over the truths 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 regulations factors to consider when working with compliance essential 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 bigger a company grows the more they require to comprehend and manage understanding what to do in each brand-new scenario as it increases is essential on lots of levels comprehending regional policies and local laws as well as business practices helps mitigate Associated and international expansion papaya through our regional specialists can navigate prospective threats such as copyright defense data personal privacy security issues ensuring the company’s operations remain compliant and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has proven to be a vital property in our quest for effective and certified international payroll management. As the CFO of an international company, I am confident in suggesting Papaya Global to companies seeking to enhance their payroll processes, boost compliance, and accomplish higher effectiveness in managing their international labor force. The software application’s ingenious functions and commitment to excellence align with our tactical objectives, making it an important part of our monetary operations.
openly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly revealed settlements there’s also substantial legal expenses there exists’s other charges there’s other expenses behind that also so the total cost can be really considerable in the 10s of millions of dollars or more and and those amounts are growing uh the reason business are getting it so incorrect is actually simply the rules are complex and they’re changing all the time think ir-35 in the UK which has actually been an ongoing advancement for a number of years now and and still a lot of uncertainty among business on what it truly means and how you deal with it most companies are merely not aware of the rules and and act as if the the rules are the same everywhere which they’re not so so motivate you to to be very proactive as you’re engaging uh employees from a category point of view alright thank you Stephen and moving back to yourself Ray it’s not only the company that suffers in the long run what effects can this have on the worker Papaya Global End Of Year 2019 specifically when it pertains to their own tax liabilities social security and advantages for instance jury and obviously the employees the other side of the coin
I find time and time again the employees frequently misclassified unknowingly they don’t understand the conditions of employment or agreement and are informed by the client why it’s optimum generally to the customer why you need to be utilized or taken part in this style the employee might owe taxes and Social Security to the authorities the future pension and healthcare advantages of the worker can be affected and several times it can be years before this all falls out and by that time it’s too late years have actually gone by they haven’t contributed to pensions Etc so it’s a huge effect that they never ever understood they were strolling into you couldn’t agree with you more if you say the UK for instance hmrc can go back as much as 10 years um Kathy business are getting insurance coverage against misclassification however generally premiums are just covering the cost of legal fees whilst the average claim assessed against companies corresponds to to 40 or half of the base pay of employee exists any point in securing insurance coverage and what is the alternative yeah to your point um you do need 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 think if you managed to get the protection 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 truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global End Of Year 2019 …
The comprehensive functions of come at a cost,
Current years have seen a dramatic modification to the labor force as the rise of remote work has actually broken down geographical barriers to hiring. Organizations can now employ staff from anywhere worldwide, permitting them to access the best readily available skill for any provided role. This gives workers more flexibility to work from home and increase their earnings without moving to pricey areas or travelling long distances. A 2022 study discovered that 87% of staff members who have the chance to work from another location take that chance. The break out of COVID-19, in conjunction with new enterprise connection software, accelerated the transfer to remote work, including in industries formerly hesitant to accept the trend.
insights are valuable 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 functions in all kind of Industries retail and Charm to Aerospace in all types of companies start-up to matrixed environments across the globe I provided management and technique 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
Worldwide I work throughout business male maning and building external relationships supporting Enterprise clients and services and acting as an advisor I want to present our first Greg um visitor 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 internal legal team and actually work really carefully with our um HR department as well to deal with various legal and HR matters that show up so actually excited to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our objective is to set you as HR professionals totally free to do terrific
Although Papaya Global provides combinations with different HR and financing systems, we came across some difficulties during the combination process. Personalizing the software application to line up with our existing facilities showed to be more complex than expected, resulting in delays in the preliminary rollout.
The substantial functions used by Papaya Global come at an expense, which some of our smaller sized subsidiaries found to be prohibitively pricey. As an international organization, we had to carefully weigh the need for advanced functionality against spending plan restrictions.
Assistance Action Time:
On occasion, our teams experienced problems that required urgent help. Nevertheless, the reaction time from Papaya Global’s customer assistance team was not constantly as timely as we would have liked, causing delays in fixing those concerns.
Our application of involved a phased approach. We started by onboarding a few subsidiaries to test the system’s compatibility with our existing procedures. This enabled us to determine and resolve integration challenges early on. As the software application became more implanted in our operations, we slowly expanded its use to cover our entire worldwide workforce.
The automated functions streamlined our payroll processes, decreasing the time invested in manual calculations and compliance tracking. Routine training sessions and ongoing assistance from Papaya helped our groups become competent users of the software, maximizing its potential for our company.
Business that staff member workers throughout numerous nations frequently deal with elaborate challenges when it pertains to handling their labor force. One of the biggest obstacles is consolidating various information streams and sticking to varied local and nationwide labor policies, which can be both lengthy and expensive. Additionally, setting up regional entities in new areas can be an expensive and suboptimal alternative, with options such as opening a foreign subsidiary or employing an expert work organization (PEO) frequently charging up to 15% of the payroll. These difficulties have caused a substantial increase in trouble recruiting qualified personnel, with 75% of employers reporting this issue in 2022, a 21% boost 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 kinds of work. It provides an end-to-end platform, from staff member onboarding and ongoing management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they run, offers management of work advantages, and ensures 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 expert in payroll and labor force management. She co-founded after seeing the technology gap in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make certain to attend 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 internet browser with the webcast survey please make sure to finish it as quickly as the webcast has actually 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 regulation achieving
360 degree employee compliance where we’ll dive into the necessary aspects of the worker compliance management design throughout the session we’ll check out real world obstacles real local regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to safeguard your company and employees while staying compliant in an
Ever evolving regulative environment in the everchanging world of organization and finance making sure compliance with payroll guidelines is not just vital but likewise a legal important from the moment of employing to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance risks that have far-reaching repercussions however with a deeper more nuanced understanding of their responsibilities organizations can not just navigate the complex landscape however likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools required to browse the complex Terrain of compliance whether you’re a skilled P professional a small company owner or somebody new to the field what I would like to do before we start and I believe it’s actually crucial
In our mission to improve performance and accuracy in managing our worldwide labor force, our international corporation turned to, a leading and workforce management software. The shift aimed to simplify the complex task of managing across different countries, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software application immediately updates itself to comply with ever-evolving tax and labor laws across several jurisdictions. This has actually been indispensable in guaranteeing that our processes remain certified in each nation of operation.
is to state that the material here is not legal suggestions it is merely for your details please consult your legal group ought to you have any questions or concerns in relation to anything that we have actually gone over today our secret take essential takeaways by the end of the webinar will be an understanding of worker compliance risks how to work with ly with confidence how to streamline data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
act as your hris or is sort of your core employee record um to handle that staff member life cycle throughout their Journey with you as as a staff member in addition to a payroll module we need to assist you pay those employees and compensate them and benefits Administration module that permits you to help manage the benefits you offer to your workers so really excited to be here represent um bamb booy container and discuss this topic um and I guess from my viewpoint I’ll I’ll probably supply a lot of a concentrate on the United States side of things when we talk about kind of compliance so delighted to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a little bit about papay international yes absolutely thank you Ian hello everybody I’m Gina dorelis I’m the Employment expert manager.
at I handle the work Council in the United States APAC EMA and Israel region I also act as us Council for I’m licensed in New York and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we provide 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 totally underqualified sitting here with you both well I forgot to mention as we were kind of like going through the intro so it’s truly really great to really see in the webinar chat where everybody’s really attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you wish to continue inform where you are that would be definitely wonderful whilst we simply wait on everyone else to sort of like join in there we go Chicago too well um so whil we’re doing that I’m awaiting everyone to type of join I’ll simply run us through the agenda um today we are going to go over hiring Skill new greater Information Management termination compliance and automation wow the chat has got really really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is great so uh I’m hoping that we’re in fact going to have some really fantastic commentary and concerns throughout the uh the webinar too fine so that’s the agenda 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 End Of Year 2019 diverse without fail and an.
Ever evolving relationship that starts the minute a person joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous key stages whilst we’re really you know that they’re utilized with us so on boarding day-to-day operations settlement and benefits professional advancement then we get to the offboarding and even advocacy so it even occurs after the worker has actually left your work throughout the journey companies are accountable for gathering keeping safeguarding employee information in compliance with information privacy policies no matter where it is you’re running around the globe it typically includes carrying out secure information management systems and guaranteeing strict adherence to regional requirements to safeguard both the staff member and the company the advancement of staff member data and management c.