A CFO’s Point of view on Papaya Global Payroll Dates…
The platform makes it possible for business to manage their international labor force and comply with local work guidelines and tax laws. Papaya Global uses a range of services, including payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is developed to streamline the complexities of global payroll and offer real-time visibility and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the dynamic landscape of worldwide company operations, managing payroll throughout borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of an international business, I understand the vital importance of effective and compliant payroll management. In our pursuit of quality, we have actually embraced ingenious services to simplify our procedures, and one such transformative tool is Software.
The Difficulty of Worldwide Payroll:
Global expansion brings about varied difficulties, and payroll management is no exception. Differing tax policies, varying employment laws, and several currencies make it crucial for companies to adopt sophisticated options to ensure accuracy, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Option:
staff members so it’s really essential to guarantee that you have actually thought about from the beginning any post-termination limitations that you want to put into the agreement of work that they’re enforceable so that suggests you need to actually think about what it is you’re aiming to safeguard and why clearly Specify what’s consisted of within the scope of that secret information and resolve the period of limitation post-determination that you wish to apply and be actually able to to validate that in relation to intellectual property the position really depends upon the kind of intellectual property you’re aiming to safeguard and likewise the jurisdiction so for instance from a copyright point of view in the Netherlands the end client is most likely to have the um copyright rights in a copyright that the workers produced who’s been under their supervision and control automatically nevertheless in somewhere like Poland for example that automated right may not exist which task would require to flow through the chain uh contractually so it really depends on the jurisdiction and the type of IP fine thank you Elizabeth Steve was remaining on the subject of contracts Miss categorized misclassifying staff members
Papaya Global Software has become a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually witnessed firsthand the favorable effect of on our organization’s financial operations.
Unified Global Payroll Processing:
enables our business to procedure payroll flawlessly across several countries. The platform’s unified method allows for constant payroll estimations, minimizing errors and guaranteeing compliance with regional policies. This has actually considerably alleviated the risks connected with international payroll processing.
likewise crucial for if in the future someone says misclassification you have your file supported by the requisite documents which the ideal assessment tools to show someone that you had a thoughtful process and so what do you need to include because procedure it’s the who the what the where and the when who are you handling are you handling 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 a staff member so for instance accounting
I.T crafting the creatives these all provide themselves more to that assessment of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they need to be on site and handled again another essential aspect is the management and guidance of the uh employee and then lastly when is it a particular job is it a six-month job six years all of this is workable however it needs to be recorded and it has to be thoroughly um investigated so we have a tool we call it ic2 we had an ic1 and we have actually enhanced it this year so that we can roll it out globally these tools take a questionnaire list for the worker the worker submits and fills these concerns out and so does completion customer or the recipient of the services they both put their details into the tool and after that it does an assessment waiting the different questions because not every jurisdiction has the very same feeling about a few of these concerns some think 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 assist you with that in regards to some of the things you need to strengthen to make certain that you are given that assessment of uh independent specialist or green where you were evaluated as an as a independent professional once that evaluation is done all the requisite files are beneath it so that if in the future there
Navigating the complexities of international employment laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in policies throughout jurisdictions. This makes sure that our payroll processes adhere to the latest requirements, reducing the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal companies who assist us keep our databases entirely up to date and we also call on we require to when we see an uncommon or or especially intricate circumstances okay thanks Steve I can simply see a quick concern in the Q a window yes the session will be recorded and sent to guests later on um moving back to to the webinar itself Ray company of record is controlled in a different way worldwide and the German law for instance it’s classed as staff member leasing can you shed any light on a few of the special factors to consider for nations and where the eor design isn’t controlled yes Ian employee leasing or labor leasing as it’s likewise called which is prevalent in numerous nations specifically in Europe imposes rigorous policies on items such as the length of project it also assigns workers to collective bargaining agreements that provides rights and advantages but even in the nations that don’t have those strict regulations for example the UK Canada and the nordics there are guidelines for each country and each employee is dealt with the like all the other employees in that nation and all those policies need to be complied with alright 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 advantages and disadvantages of hiring contractors and Freelancers versus permanent workers so certainly the the benefit of specialists versus workers is the the versatility for both the worker and for the company um however I can’t stress enough how crucial it is to have a constant extensive and a well-documented compliance
Papaya Global Payroll Dates and Time Cost Savings:
The software application’s automation capabilities have actually significantly minimized the time and effort needed for payroll processing. Handbook information entry and repetitive tasks have been minimized, enabling our financing team to focus on tactical efforts instead of administrative concerns. This has led to increased efficiency and productivity within our monetary operations.
in one because each state has its own policies Californians are some of the most rigorous an example is pay slips on a payslip in California the ideal information has to be on the payslip in the ideal format and in the right position if you’re in breach of of guidelines for payslips the fines are provided per payslip so that’s each worker each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to worry to think about and we’re just two questions in and 10 minutes or two hiring in one country is difficult enough but when working with in a you understand on a global level it’s an entirely different story you need to ensure that you’re up to date with existing in addition to pending local labor laws Steve um how do you ensure and guarantee that the people 2.0 group is on top of an ever-changing landscape and that your clients are fully supported and I’ll arrange this into 3 crucial things we do in most importantly you require to have the best group so we employ a group of global specialists in Employment Practices um that ex that team of experts consists of legal representatives it consists of payroll specialists it includes HR professionals and these are people that not only know the laws in these in these countries and regions however they also know the languages they know the regional practices they understand the cultures and it is very important to have that best team and truly have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers extensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt financial information is crucial for decision-making. The platform’s reporting abilities empower me to make informed strategic decisions based on real-time insights into our international payroll data.
application and its scope and the way that it applies to employment law in practice can be checked 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 hairs of that legislation tested particularly around holiday pay and obviously as Kathy’s going to come on to talk about later on employment status which there’s been numerous precedence set throughout the years so I think it’s actually that constant advancement 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 individual experience while crossing the pond as discussed each nation has different regulations however the United States is basically 50 countries
Scalability for Company Growth:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and expand into brand-new markets, the software application seamlessly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the developing needs of our worldwide organization.
Global Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Gander who is our senior vice president of customer service and I would say separately and collectively these 3 individuals have Decades of experience in in employment law and worldwide Work Practices so thank you it’s an enjoyment to be with everybody here today seems like we’ve got the right people with us today and in in addition to to those well we also have among our own Stars delete share head of Global Services at papaya Worldwide tell us about yourself thank you Elin Ian hello my name is Elite I have actually been with the business for around 4 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 opportunity to relocate and operate in 3 different nations it is the business’s responsibility to guarantee my defense while residing in a foreign nation compliance with regional laws and guidelines is essential for me or anyone else as an expat or as a regional so today we have welcomed our trusted Partners individuals 2.0 to demonstrate the significance of regional
knowledge when business Go Worldwide thank you and take pleasure in alright thank you as I stated let’s move on to the pact agenda today’s webinar is a chance to ask the panel the concerns you have actually been considering we’ll go over the truths a company requires to consider when opening a new entity and broadening into brand-new nations as well as keeping things going we’ll cover aspects such as local policies factors to consider when working with compliance essential obstacles 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 larger a business grows the more they need to understand and manage understanding what to do in each brand-new circumstance as it rises is necessary on numerous levels comprehending regional guidelines and local laws along with service practices helps alleviate Associated and global expansion papaya through our regional specialists can navigate potential risks such as intellectual property protection data personal privacy security problems making sure the company’s operations stay compliant and safe tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has actually shown to be an invaluable asset in our mission for efficient and certified global payroll management. As the CFO of a worldwide company, I am positive in suggesting Papaya Global to companies seeking to enhance their payroll procedures, boost compliance, and accomplish greater effectiveness in handling their international workforce. The software application’s ingenious functions and commitment to quality line up with our strategic goals, making it an important part of our monetary operations.
I find time and time again the employees often misclassified unconsciously they don’t understand the conditions of work or agreement and are told by the customer why it’s most advantageous primarily to the customer why you need to be used or participated in this style the worker may owe taxes and Social Security to the authorities the future pension and health care advantages of the employee can be impacted and several times it can be years before this all falls out and by that time it’s too late years have gone by they have not added to pensions Etc so it’s a huge effect that they never understood they were walking into you couldn’t agree with you more if you state the UK for example hmrc can return as much as 10 years um Kathy companies are taking out insurance against misclassification but generally premiums are only covering the cost of legal costs whilst the average claim assessed versus companies corresponds to to 40 or half of the base salary of employee is there any point in getting insurance 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 penalty 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 stating is is that if your compliance program is not up to pack you could be rejected coverage on the basis of the truth that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Payroll Dates …
The extensive features of come at a cost,
Recent decades have actually seen a remarkable change to the labor force as the increase of remote work has broken down geographical barriers to employing. Companies can now hire staff from anywhere worldwide, permitting them to access the very best available skill for any given role. This gives employees more freedom to work from home and increase their earnings without relocating to costly locations or commuting cross countries. A 2022 survey discovered that 87% of workers who have the opportunity to work from another location take that chance. The break out of COVID-19, in conjunction with brand-new business connectivity software application, sped up the relocate to remote work, including in industries formerly hesitant to accept the pattern.
insights are important to us and and your fellow participants so first things initially though um let’s learn more about everybody 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 kinds of businesses start-up to matrixed environments around the world I provided leadership and strategy 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
Worldwide I work throughout the business man maning and building external relationships supporting Business customers and services and serving as an advisor I wish to introduce 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 corporate counsil at bambo HR so I lead our in-house legal group and really work really carefully with our um HR department as well to deal with various legal and HR matters that show 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 mission is to set you as HR experts totally free to do fantastic
Although Papaya Global supplies combinations with numerous HR and financing systems, we came across some hurdles during the integration process. Personalizing the software application to line up with our existing facilities showed to be more intricate than prepared for, leading to delays in the initial rollout.
The substantial functions provided by Papaya Global come at an expense, which some of our smaller sized subsidiaries found to be prohibitively expensive. As an international company, we needed to carefully weigh the need for sophisticated functionality against budget restrictions.
Support Reaction Time:
On occasion, our teams experienced concerns that required immediate help. However, the reaction time from Papaya Global’s consumer assistance group was not always as prompt as we would have liked, causing delays in solving those issues.
Our execution of included a phased approach. We started by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This enabled us to recognize and address integration challenges early on. As the software ended up being more ingrained in our operations, we gradually expanded its usage to cover our entire global labor force.
The automated functions streamlined our payroll processes, minimizing the time invested in manual estimations and compliance tracking. Routine training sessions and continuous support from Papaya helped our teams end up being competent users of the software application, maximizing its capacity for our organization.
However, paying a labor force can be intricate. It is particularly challenging for business who employ staff throughout numerous nations, as they must constantly consolidate various information streams, by hand track regional and nationwide labor and regulations, and invest important time and resources to establish regional entities in brand-new areas. These business are faced with suboptimal, costly options, like opening a foreign subsidiary or employing a professional employment company, which is a local firm that works with employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported trouble hiring certified workers, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
provides a solution supporting all types of employment. It provides an end-to-end platform, from worker onboarding and ongoing management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they run, offers management of employment advantages, and guarantees information personal 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 worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to attend the complete webcast in order to receive your credits if you have any concerns throughout 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 certain to finish it as soon as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hey there and thank you for joining us today we’re enjoyed have you here as we embark on a journey of information to regulation attaining
360 degree worker compliance where we’ll dive into the vital elements of the employee compliance management model throughout the session we’ll explore real life obstacles genuine regional policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to secure your company and employees while staying certified in an
Ever evolving regulative environment in the everchanging world of service and financing guaranteeing compliance with payroll policies is not just crucial however likewise a legal necessary from the moment of working with to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance risks that have significant effects however with a deeper more nuanced understanding of their responsibilities companies can not just navigate the intricate landscape however likewise proactively guarantee this 360 degree compliance the webinar is developed to equip you with the understanding and tools required to browse the complex Surface of compliance whether you’re an experienced P expert a small business owner or somebody brand-new to the field what I want to do before we begin and I believe it’s actually crucial
In our mission to enhance effectiveness and accuracy in handling our global labor force, our multinational corporation turned to, a leading and labor force management software. The transition intended to simplify the complex job of handling throughout various countries, currencies, and compliance guidelines.
One of the standout functions of is its robust compliance management system. The software application immediately updates itself to follow ever-evolving tax and labor laws throughout several jurisdictions. This has been indispensable in ensuring that our procedures remain certified in each country of operation.
is to state that the material here is not legal guidance it is just for your info please consult your legal team should you have any questions or issues 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 employee compliance dangers how to employ ly with confidence how to streamline information management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we have actually.
work as your hris or is sort of your core worker record um to manage that worker life cycle throughout their Journey with you as as an employee in addition to a payroll module we have to assist you pay those staff members and compensate them and advantages Administration module that enables you to assist handle the benefits you supply to your employees so actually thrilled to be here represent um bamb booy jar and talk about this subject um and I think from my viewpoint I’ll I’ll most likely supply a lot of a focus on the US side of things when we talk about kind of compliance so happy to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay international yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Work professional manager.
at I manage the work Council in the United States APAC EMA and Israel region I likewise function as us Council for I’m accredited in New York and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service labor force service provider to employees serving in over.
160 nations okay 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 introduction so it’s really really nice to actually see in the webinar chat where everyone’s really attending from today I can see that we have people in Las Vegas and Indiana already so if you wish to continue tell where you are that would be absolutely great whilst we simply wait for everybody else to sort of like participate in there we go Chicago also well um so whil we’re doing that I’m awaiting everybody to type of join I’ll simply run us through the agenda um today we are going to talk about hiring Skill new higher Info Management termination compliance and automation wow the chat has got really truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely everywhere which is wonderful so uh I’m hoping that we’re really going to have some actually great commentary and questions throughout the uh the webinar also alright 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 an employee and their data is Papaya Global Payroll Dates diverse without fail and an.
Ever evolving relationship that starts the moment an individual signs up with an organization it continues throughout their employment 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 daily operations compensation and benefits expert advancement then we get to the offboarding and even advocacy so it even happens after the employee has actually left your employment throughout the journey organizations are responsible for collecting saving safeguarding employee information in compliance with information personal privacy guidelines no matter where it is you’re operating around the globe it often involves carrying out safe information management systems and guaranteeing strict adherence to local requirements to safeguard both the worker and the organization the advancement of employee information and management c.