A CFO’s Point of view on Papaya Global Payroll Services…
The platform makes it possible for companies to handle their global labor force and abide by local work policies and tax laws. Papaya Global offers a series of services, including payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is created to streamline the complexities of global payroll and supply real-time visibility and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New york city, London, and Kiev.
In the dynamic landscape of global organization operations, handling payroll throughout borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of an international company, I understand the critical importance of efficient and compliant payroll management. In our pursuit of quality, we have welcomed innovative solutions to improve our processes, and one such transformative tool is Software application.
The Obstacle of Worldwide Payroll:
Worldwide growth brings about diverse challenges, and payroll management is no exception. Differing tax policies, varying employment laws, and multiple currencies make it crucial for companies to embrace advanced options to guarantee precision, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Solution:
It is vital to consider and include post-termination restrictions in the employment agreement to ensure enforceability. You must carefully determine what you are looking for to protect and plainly define the secret information that falls within its scope. In addition, specify the period of the post-termination limitation and be prepared to validate it in relation to copyright. The guidelines concerning copyright vary depending upon the type of IP and the jurisdiction. For example, in the Netherlands, the end client is likely to have copyright rights over works produced by workers under their guidance, while in Poland, contractual task might be required.
Papaya Global Software has emerged as a game-changer in the realm of global payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have experienced firsthand the favorable effect of on our company’s financial operations.
Unified Worldwide Payroll Processing:
allows our company to procedure payroll flawlessly across numerous countries. The platform’s unified approach enables consistent payroll calculations, minimizing mistakes and guaranteeing compliance with local regulations. This has actually significantly reduced the threats related to international payroll processing.
likewise key for if later on someone states misclassification you have your file supported by the requisite documents which the best examination tools to show somebody that you had a thoughtful procedure therefore what do you have to consist of because process it’s the who the what the where and the when who are you handling are you handling a private or are you dealing with a personal Service Corporation and how are they operating what are they doing is it the kind of work that lends itself more to being an independent specialist than a staff member so for instance accounting
I.T crafting the creatives these all lend themselves more to that assessment of being freelancer you understand 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 worker and after that lastly when is it a specific task is it a six-month project six years all of this is manageable however it needs to be recorded and it needs to be completely um investigated so we have a tool we call it ic2 we had an ic1 and we have actually improved it this year so that we can roll it out worldwide these tools take a questionnaire list for the employee the employee submits and fills these questions out and so does the end client or the recipient of the services they both put their information into the tool and then it does an evaluation waiting the various questions since not every jurisdiction has the same feeling about a few of these questions some believe they’re more vital than others and it comes out with a red yellow or green red you’re most likely a worker yellow you’re on the cusp we can probably help you with that in terms of some of the things you require to reinforce to make certain that you are given that examination of uh independent contractor or green where you were evaluated as an as a independent contractor once that assessment is done all the requisite documents are underneath it so that if later there
Navigating the complexities of global work laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in policies throughout jurisdictions. This ensures that our payroll processes adhere to the current requirements, minimizing the risk of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal firms who assist us keep our databases entirely approximately date and we likewise call on we need to when we see an uncommon or or especially complex scenarios all right 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 company of record is regulated differently worldwide and the German law for instance it’s classed as worker leasing can you shed any light on some of the special factors to consider for nations and where the eor model isn’t managed yes Ian employee leasing or labor leasing as it’s likewise called which prevails in a number of nations especially in Europe imposes stringent regulations on products such as the length of assignment it likewise designates employees to collective bargaining contracts that gives them rights and benefits however even in the countries that don’t have those stringent regulations for instance the UK Canada and the nordics there are guidelines for each nation and each worker is treated the same as all the other employees because country and all those regulations require to be abided by all right thank you Ray um Kathy moving I would state to yourself what do companies need to factor in when determining contract status to secure themselves and the rights of hires what are the advantages and disadvantages of hiring professionals and Freelancers versus irreversible staff members so clearly the the advantage of professionals versus workers is the the versatility for both the employee and for the employer um but I can’t worry enough how essential it is to have a constant comprehensive and a well-documented compliance
Papaya Global Payroll Services and Time Savings:
The software’s automation capabilities have substantially reduced the time and effort required for payroll processing. Handbook information entry and recurring tasks have been reduced, allowing our financing team to concentrate on tactical initiatives rather than administrative burdens. This has actually led to increased effectiveness and efficiency within our monetary operations.
in one considering that each state has its own policies Californians are a few of the most strict an example is pay slips on a payslip in California the ideal details has to be on the payslip in the best format and in the best position if you remain in breach of of guidelines for payslips the fines are released per payslip so that’s each employee each pay slip will incur a great thanks Ray thank you Elizabeth a lot to fret to consider and we’re just 2 questions in and 10 minutes or so employing in one country is hard enough however when hiring in a you understand on an international level it’s a completely various story you need to make sure that you depend on date with current in addition to pending regional labor laws Steve um how do you make certain and guarantee that individuals 2.0 team is on top of an ever-changing landscape and that your customers are fully supported and I’ll organize this into three key things we perform in firstly you need to have the ideal team so we hire a team of international specialists in Work Practices um that ex that team of specialists includes lawyers it includes payroll experts it consists of HR specialists and these are people that not only understand the laws in these in these countries and regions but they also know the languages they understand the regional practices they know the cultures and it is necessary to have that right team and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers comprehensive real-time analytics and reporting tools. As a CFO, having access to accurate and timely financial data is important for decision-making. The platform’s reporting capabilities empower me to make educated tactical choices based on real-time insights into our international payroll data.
The useful application and level of the application to work law can be examined through the legal system using case law examples. For instance, the gotten rights regulation, likewise referred to as the 2p regulations in the UK, and the working time policies have actually undergone different legal analyses, especially regarding holiday pay. Additionally, the concept of work status has seen multiple legal precedents over the
Scalability for Service Growth:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software effortlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the evolving requirements of our international company.
Worldwide Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Gander who is our senior vice president of customer service and I would say separately and collectively these three individuals have Years of experience in in employment law and global Employment Practices so thank you it’s a pleasure 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 Services at papaya Worldwide inform us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the business for around four and a half years as head of Collaborations I have actually established Papaya’s network of in-country Partners in over 160 locations on an individual aspect and related to our subject today I’ve had the chance to move and operate in 3 various countries it is the company’s obligation to ensure my protection while residing in a foreign nation compliance with local laws and regulations is essential for me or anyone 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
proficiency when companies Go Global thank you and enjoy all right thank you as I stated let’s proceed to the pact program today’s webinar is a chance to ask the panel the questions you have actually been considering we’ll go over the truths a business requires to consider when opening a new entity and expanding into new countries as well as keeping things going we’ll cover elements such as regional guidelines considerations when hiring compliance key difficulties 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 handle understanding what to do in each brand-new situation as it rises is essential on numerous levels comprehending local guidelines and regional laws as well as company practices assists mitigate Associated and international expansion papaya through our local specialists can browse possible dangers such as intellectual property defense data privacy security problems making sure the company’s operations remain certified and safe and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has actually proven to be an invaluable asset in our quest for effective and certified international payroll management. As the CFO of an international business, I am positive in suggesting Papaya Global to companies seeking to improve their payroll processes, improve compliance, and attain higher effectiveness in handling their worldwide labor force. The software’s innovative functions and dedication to quality line up with our strategic objectives, making it an essential part of our monetary operations.
I find time and time again the employees typically misclassified unwittingly they don’t comprehend the conditions of work or agreement and are informed by the client why it’s optimum mainly to the client why you need to be employed or participated in this style the employee might owe taxes and Social Security to the authorities the future pension and health care advantages of the worker can be impacted and a number of 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 And so on so it’s a huge effect that they never understood they were strolling 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 business are getting insurance versus misclassification but generally premiums are just covering the cost of legal costs whilst the typical claim evaluated against companies corresponds to to 40 or half of the base pay of worker is there any point in getting insurance coverage and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes charge and interest in many cases I have not seen it at least so uh the the other location that I do believe if you managed to get the coverage 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 reality that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Payroll Services …
The thorough features of come at an expense,
Recent years have seen a remarkable modification to the labor force as the rise of remote work has actually broken down geographical barriers to employing. Companies can now hire personnel from anywhere worldwide, enabling them to access the very best offered skill for any given function. This gives workers more flexibility to work from home and increase their income without moving to pricey areas or commuting cross countries. A 2022 survey found that 87% of workers who have the chance to work remotely take that chance. The break out of COVID-19, in conjunction with new enterprise connectivity software, accelerated the transfer to remote work, consisting of in industries previously reluctant to accept the pattern.
insights are valuable to us and and your fellow attendees so first things initially though um let’s be familiar with everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I have actually had functions in all sort of Industries retail and Appeal to Aerospace in all types of companies startup to matrixed environments around the world I supplied management and strategy to populations of more than 100,000 employees on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
International I work across business man maning and developing external relationships supporting Business customers and solutions and functioning as a consultant I wish to introduce our 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 said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal group and in fact work really carefully with our um HR department also to deal with different legal and HR matters that show up so actually delighted to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our mission is to set you as HR professionals free to do fantastic
While Papaya Global offers integrations with various HR and financing systems, the implementation process was not without difficulties. Incorporating the software application with our existing facilities needed extra modification, causing some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Payroll Services 2024
and some smaller subsidiaries within our organization found the rates to be on the higher side. As a worldwide company, balancing the need for sophisticated functions with spending plan restrictions became a delicate exercise.
Customer Support Response Time:
There were instances where our teams faced concerns that required prompt assistance. Nevertheless, the response time from’s client assistance team was not constantly as fast as preferred, causing periodic delays in problem resolution.
Our execution of included a phased approach. We started by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This allowed us to identify and deal with combination obstacles early on. As the software ended up being more ingrained in our operations, we slowly broadened its usage to cover our entire global workforce.
The automated features streamlined our payroll processes, minimizing the time spent on manual computations and compliance tracking. Regular training sessions and ongoing support from Papaya helped our teams end up being skilled users of the software, optimizing its capacity for our company.
Nevertheless, paying a labor force can be complicated. It is especially challenging for companies who use staff across multiple nations, as they should continuously consolidate different data streams, manually track regional and national labor and guidelines, and invest important time and resources to establish local entities in brand-new locations. These business are faced with suboptimal, costly options, like opening a foreign subsidiary or hiring a professional work company, which is a regional firm that employs staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported trouble hiring certified personnel, an increase of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
uses a service supporting all forms of work. It supplies an end-to-end platform, from worker onboarding and continuous management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they run, uses management of employment benefits, 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 specialist 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 be sure to go to the complete webcast in order to get 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 brand-new tab will open in your browser with the webcast study please make sure to finish it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hi and thank you for joining us today we’re thrilled to have you here as we embark on a journey of information to guideline accomplishing
360 degree staff member compliance where we’ll dive into the necessary elements of the staff member compliance management design throughout the session we’ll check out real world difficulties real regional regulations 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 workers while staying certified in an
Ever developing regulative environment in the everchanging world of business and financing ensuring compliance with payroll policies is not only essential however also a legal vital from the moment of employing to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance threats that have far-reaching consequences nevertheless with a deeper more nuanced understanding of their obligations companies can not just browse the detailed landscape but likewise proactively guarantee this 360 degree compliance the webinar is developed to equip you with the understanding and tools needed to browse the complex Terrain of compliance whether you’re a seasoned P expert a small business owner or somebody new to the field what I wish to do before we begin and I believe it’s actually essential
In our quest to enhance effectiveness and accuracy in handling our global labor force, our international corporation turned to, a leading and workforce management software. The shift intended to streamline the complex task of managing throughout numerous countries, currencies, and compliance policies.
Among the standout functions of is its robust compliance management system. The software instantly updates itself to comply with ever-evolving tax and labor laws across numerous jurisdictions. This has actually been indispensable in ensuring that our processes remain compliant in each country of operation.
is to state that the content here is illegal recommendations it is simply for your info please consult your legal group needs to you have any questions or concerns in relation to anything that we have actually discussed today our secret take key takeaways by the end of the webinar will be an understanding of employee compliance dangers how to work with ly with self-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 have actually.
act as your hris or is kind of your core staff member record um to manage 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 staff members and compensate them and benefits Administration module that allows you to assist manage the benefits you supply to your staff members so really thrilled to be here represent um bamb booy jar and speak about this subject um and I think from my point of view I’ll I’ll most likely provide a great deal of a concentrate on the US side of things when we speak about type of compliance so delighted to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and tell the audience a little bit about papay international yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Work expert supervisor.
at I handle the work Council in the United States APAC EMA and Israel area I also serve as us Council for I’m accredited in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and workforce management as a Service work force company to workers serving in over.
160 countries all right thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were kind of like going through the intro so it’s really actually good to in fact see in the webinar chat where everybody’s actually attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you wish to carry on inform where you are that would be definitely wonderful whilst we just wait for everyone else to sort of like participate in there we go Chicago too well um so whil we’re doing that I’m awaiting everybody to type of join I’ll just run us through the agenda um today we are going to talk about hiring Skill brand-new higher Details Management termination compliance and automation wow the chat has actually got really truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely everywhere which is great so uh I’m hoping that we’re in fact going to have some truly terrific commentary and questions throughout the uh the webinar as well okay so that’s the program then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their data is Papaya Global Payroll Services complex without fail and an.
Ever evolving relationship that begins the minute a person signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous crucial stages whilst we’re in fact you know that they’re employed with us so on boarding daily operations compensation and advantages expert advancement then we get to the offboarding and even advocacy so it even happens after the employee has left your work throughout the journey companies are responsible for gathering keeping protecting employee information in compliance with information privacy regulations no matter where it is you’re running around the world it typically involves executing safe and secure information management systems and making sure stringent adherence to local requirements to safeguard both the employee and the company the evolution of staff member information and management c.