A CFO’s Viewpoint on Papaya Global Pause Payroll…
The platform enables companies to manage their international workforce and abide by local employment guidelines and tax laws. Papaya Global offers a range of services, including payroll management, benefits administration, compliance management, time and participation tracking, and HR management. The platform is designed to simplify the intricacies of worldwide payroll and provide real-time presence and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New York, London, and Kiev.
In the dynamic landscape of international service operations, managing payroll across borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of a global company, I comprehend the important importance of efficient and compliant payroll management. In our pursuit of quality, we have actually embraced ingenious solutions to improve our procedures, and one such transformative tool is Software application.
The Obstacle of Global Payroll:
Global expansion produces diverse difficulties, and payroll management is no exception. Differing tax policies, varying work laws, and numerous currencies make it important for organizations to embrace sophisticated services to guarantee precision, compliance, and performance in payroll processing.
Software: A Comprehensive Option:
employees so it’s truly essential to make sure that you’ve thought about from the beginning any post-termination restrictions that you want to take into the agreement of employment that they’re enforceable so that suggests you need to really think of what it is you’re aiming to safeguard and why plainly Define what’s included within the scope of that secret information and attend to the duration of constraint post-determination that you want to use and be really able to to justify that in relation to copyright the position really depends upon the type of intellectual property you’re seeking to secure and likewise the jurisdiction so for example from a copyright perspective in the Netherlands the end customer is more likely to have the um copyright rights in a copyright that the workers produced who’s been under their guidance and control immediately nevertheless in someplace like Poland for example that automatic right may not be there which assignment would require to flow through the chain uh contractually so it truly depends on the jurisdiction and the type of IP fine thank you Elizabeth Steve was remaining on the subject of contracts Miss categorized misclassifying workers
Papaya Global Software application has actually emerged as a game-changer in the realm of global payroll management. Its cloud-based platform incorporates payroll, workforce 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 company’s monetary operations.
Unified Global Payroll Processing:
allows our business to procedure payroll perfectly across numerous countries. The platform’s unified method enables constant payroll calculations, decreasing errors and making sure compliance with regional guidelines. This has significantly mitigated the dangers associated with global payroll processing.
also key for if later on someone states misclassification you have your file supported by the requisite documents which the best examination tools to reveal somebody that you had a thoughtful procedure therefore what do you need to consist of because 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 lends itself more to being an independent professional than a staff member so for instance accounting
I.T crafting 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 have to be on website and handled again another essential aspect is the management and supervision of the uh worker and after that lastly when is it a specific job is it a six-month task 6 years all of this is manageable but it needs 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 improved it this year so that we can roll it out internationally these tools take a questionnaire list for the employee the employee fills out and fills these questions out and so does the end client or the recipient of the services they both put their info into the tool and after that it does an examination waiting the various concerns since not every jurisdiction has the very same sensation about some of these concerns some believe they’re more vital than others and it brings out a red yellow or green red you’re probably a staff member yellow you’re on the cusp we can probably help you with that in regards to a few of the important things you need to strengthen to make sure that you are considered that examination of uh independent professional or green where you were examined as an as a independent professional once that assessment is done all the requisite documents are underneath it so that if later there
Browsing the intricacies of global employment laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our organization current with changes in regulations throughout jurisdictions. This makes sure that our payroll procedures follow the latest standards, lessening the danger of non-compliance and associated penalties.
network of In-House outside advisors accounting companies and legal companies who assist us keep our databases totally approximately date and we also call on we require to when we see an unusual or or especially complex circumstances alright thanks Steve I can just see a quick question in the Q a window yes the session will be recorded and sent out to participants afterwards um returning to to the webinar itself Ray employer of record is controlled differently around the globe and the German law for example it’s classed as staff member leasing can you shed any light on a few of the unique considerations for countries and where the eor model isn’t managed yes Ian worker leasing or labor leasing as it’s also called which prevails in numerous countries particularly in Europe imposes rigorous policies on items such as the length of assignment it also appoints workers to collective bargaining agreements that provides rights and benefits however even in the countries that do not have those stringent policies for instance the UK Canada and the nordics there are regulations for each nation and each worker is dealt with the like all the other workers in that country and all those guidelines need to be followed fine thank you Ray um Kathy moving I would say to yourself what do companies need to consider when figuring out contract status to safeguard themselves and the rights of hires what are the pros and cons of working with professionals and Freelancers versus irreversible employees so obviously the the benefit of specialists versus employees is the the flexibility for both the worker and for the company um however I can’t worry enough how crucial it is to have a consistent extensive and a well-documented compliance
Papaya Global Pause Payroll and Time Savings:
The software’s automation capabilities have actually significantly minimized the time and effort required for payroll processing. Handbook data entry and repeated jobs have been reduced, enabling our financing team to concentrate on strategic initiatives instead of administrative concerns. This has led to increased efficiency and performance within our financial operations.
in one since each state has its own policies Californians are some of the most stringent an example is pay slips on a payslip in California the best info has to be on the payslip in the best format and in the ideal position if you’re in breach of of regulations for payslips the fines are provided per payslip so that’s each employee each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to stress to think of and we’re only two questions in and 10 minutes or two working with in one country is tough enough but when hiring in a you know on an international level it’s a totally various story you require to make certain that you’re up to date with present in addition to 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 clients are fully supported and I’ll arrange this into 3 key things we perform in firstly you require to have the ideal team so we employ a group of global experts in Employment Practices um that ex that team of specialists includes lawyers it includes payroll experts it consists of HR professionals and these are people that not just know the laws in these in these nations and regions however they also understand the languages they understand the regional practices they understand the cultures and it’s important to have that right team and genuinely have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to precise and timely monetary information is essential 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.
The useful application and extent of the application to work law can be evaluated through the legal system utilizing case law examples. For example, the gotten rights directive, likewise known as the 2p regulations in the UK, and the working time policies have actually undergone numerous legal analyses, especially regarding vacation pay. Furthermore, the concept of employment status has seen multiple legal precedents over the
Scalability for Business Development:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software application perfectly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the developing needs of our international company.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Gander who is our senior vice president of client services and I would state individually and jointly these 3 people have Years of experience in in work law and global Employment Practices so thank you it’s an enjoyment to be with everyone here today seems like we have actually got the right people with us today and in in addition to to those well we likewise have among our own Stars erase share head of Global Solutions at papaya Worldwide tell us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business for around 4 and a half years as head of Collaborations I have actually established Papaya’s network of in-country Partners in over 160 areas on an individual aspect and related to our subject today I’ve had the chance to relocate and work in 3 various countries it is the company’s responsibility to ensure my defense while residing in a foreign nation compliance with local laws and regulations is essential for me or anybody else as an expat or as a regional so today we have welcomed our trusted Partners people 2.0 to demonstrate the value of local
knowledge when companies Go Global thank you and delight in fine thank you as I stated let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the concerns you’ve been considering we’ll talk about the facts a business needs to think about when opening a brand-new entity and broadening into brand-new countries in addition to keeping things going we’ll cover elements such as regional policies considerations when working with compliance key challenges payments and what not to do it is among the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the larger a company grows the more they require to understand and manage understanding what to do in each new circumstance as it rises is very important on lots of levels comprehending local policies and local laws as well as service practices assists alleviate Associated and global growth papaya through our regional professionals can browse potential threats such as copyright security information personal privacy security issues making sure the business’s operations remain certified and safe and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has actually shown to be an invaluable asset in our mission for effective and certified global payroll management. As the CFO of an international business, I am confident in recommending Papaya Global to companies seeking to simplify their payroll procedures, boost compliance, and achieve greater efficiency in handling their worldwide workforce. The software application’s innovative functions and dedication to excellence line up with our strategic objectives, making it an integral part of our monetary operations.
I find time and time again the workers frequently misclassified unconsciously they do not comprehend the conditions of work or contract and are informed by the client why it’s most advantageous generally to the client why you ought to be utilized or participated in this fashion the worker might owe taxes and Social Security to the authorities the future pension and health care privileges of the employee can be affected and a number of 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 contributed to pensions Etc so it’s a big impact that they never understood they were walking into you couldn’t agree with you more if you say the UK for example hmrc can go back as much as 10 years um Kathy companies are securing insurance versus misclassification however normally premiums are only covering the expense of legal costs whilst the typical claim examined against employers equates to to 40 or half of the base salary of worker is there any point in securing insurance and what is the alternative yeah to your point um you do require to check out the fine print it is not covering the taxes charge and interest in most cases I haven’t seen it at least 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 protection on the basis of the fact that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Pause Payroll …
The thorough functions of come at a cost,
Recent decades have seen a significant modification to the labor force as the increase of remote work has broken down geographical barriers to hiring. Organizations can now employ staff from anywhere worldwide, enabling them to access the best available skill for any provided role. This gives employees more liberty to work from home and increase their income without relocating to expensive locations or commuting cross countries. A 2022 study found that 87% of employees who have the possibility to work from another location take that chance. The break out of COVID-19, in conjunction with new enterprise connectivity software, sped up the move to remote work, including in industries formerly hesitant to accept the pattern.
insights are valuable to us and and your fellow attendees so first things first though um let’s get to know everybody my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had functions in all kind of Industries retail and Beauty to Aerospace in all types of companies startup to matrixed environments across the globe I supplied leadership and method to populations of more than 100,000 staff members on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
Global I work throughout business man maning and constructing external relationships supporting Enterprise clients and options and serving as a consultant I ‘d like to introduce our very 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 business counsil at bambo HR so I lead our in-house legal group and actually work extremely closely with our um HR department also to manage different legal and HR matters that come up so actually delighted 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 experts totally free to do great
Although Papaya Global provides combinations with numerous HR and finance systems, we encountered some difficulties throughout the integration procedure. Personalizing the software to line up with our existing facilities proved to be more complex than prepared for, resulting in delays in the preliminary rollout.
The extensive features offered by Papaya Global come at an expense, which a few of our smaller subsidiaries discovered to be prohibitively pricey. As a worldwide organization, we needed to thoroughly weigh the requirement for innovative performance versus spending plan restraints.
Support Reaction Time:
On occasion, our teams experienced problems that needed urgent assistance. Nevertheless, the action time from Papaya Global’s client assistance group was not always as timely as we would have liked, causing delays in fixing those issues.
Our implementation of included a phased approach. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This enabled us to identify and attend to combination difficulties early on. As the software application ended up being more implanted in our operations, we slowly broadened its use to cover our whole international labor force.
The automated features structured our payroll procedures, reducing the time invested in manual computations and compliance tracking. Regular training sessions and ongoing support from Papaya helped our groups become skilled users of the software, maximizing its potential for our company.
Nevertheless, paying a workforce can be complex. It is particularly challenging for business who utilize personnel throughout multiple countries, as they need to constantly combine different data streams, manually track local and national labor and guidelines, and spend valuable time and resources to set up local entities in new areas. These business are confronted with suboptimal, expensive alternatives, like opening a foreign subsidiary or hiring a professional employment organization, which is a local firm that hires workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported problem hiring qualified workers, an increase of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers a service supporting all types of work. It provides an end-to-end platform, from worker onboarding and continuous management to global payments and. It helps business with labor law compliance in the jurisdictions in which they run, provides management of work benefits, and ensures data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner 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 actually been pre-approved for hrci and Sherm credit please make sure to attend the total webcast in order to receive your credits if you have any questions throughout the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your web browser with the webcast study please make 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 data to guideline attaining
360 degree staff member compliance where we’ll dive into the important elements of the employee compliance management model throughout the session we’ll explore real world difficulties real regional policies 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 staff members while staying compliant in an
Ever evolving regulatory environment in the everchanging world of service and finance ensuring compliance with payroll policies is not only vital but likewise a legal crucial from the minute of hiring to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance threats that have far-reaching repercussions nevertheless with a deeper more nuanced understanding of their commitments companies can not just browse the intricate landscape but also proactively guarantee this 360 degree compliance the webinar is designed to equip you with the understanding and tools necessary to navigate the complex Terrain of compliance whether you’re a skilled P professional a small business owner or somebody new to the field what I want to do before we start and I think it’s truly essential
In our mission to improve effectiveness and accuracy in managing our worldwide labor force, our international corporation turned to, a leading and labor force management software application. The transition intended to simplify the complex task of handling throughout numerous countries, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software application instantly updates itself to comply with ever-evolving tax and labor laws throughout multiple jurisdictions. This has been vital in ensuring that our processes remain compliant in each country of operation.
is to state that the material here is illegal guidance it is just for your information please consult your legal group must you have any concerns or concerns in relation to anything that we have actually talked about today our key take key takeaways by the end of the webinar will be an understanding of worker compliance threats how to work with ly with self-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’ve.
serve as your hris or is sort of your core staff member record um to handle that staff member life cycle throughout their Journey with you as as an employee in addition to a payroll module we need to help you pay those employees and compensate them and advantages Administration module that permits you to help handle the benefits you offer to your workers so actually delighted to be here represent um bamb booy container and speak about this subject um and I guess from my point of view I’ll I’ll probably provide a lot of a focus on the United States side of things when we discuss kind of compliance so delighted to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay worldwide yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Employment specialist manager.
at I handle the work Council in the United States APAC EMA and Israel area I likewise function as us Council for I’m licensed in New york city and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and workforce management as a Service labor force company to workers serving in over.
160 countries fine thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were type of like going through the intro so it’s truly truly nice to in fact see in the webinar chat where everyone’s in fact going to from today I can see that we have people in Las Vegas and Indiana already so if you want to continue tell where you are that would be definitely fantastic whilst we simply await everyone else to sort of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting for everybody to type of join I’ll simply run us through the agenda um today we are going to talk about hiring Skill new greater Information Management termination compliance and automation wow the chat has actually got truly truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is great so uh I’m hoping that we’re really going to have some actually excellent commentary and questions throughout the uh the webinar too okay 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 staff member and their information is Papaya Global Pause Payroll diverse without fail and an.
Ever evolving relationship that begins the minute an individual joins a company it continues throughout their work and Beyond this journey can be divided into k to a number of key phases whilst we’re really you know that they’re employed with us so on boarding everyday operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even happens after the worker has actually left your employment throughout the journey organizations are responsible for collecting saving securing employee data in compliance with information personal privacy guidelines no matter where it is you’re running around the world it typically involves executing secure information management systems and ensuring strict adherence to local requirements to safeguard both the worker and the company the advancement of staff member data and management c.