A CFO’s Point of view on Papaya Global Payroll Software…
The platform makes it possible for companies to handle their international labor force and abide by local employment regulations 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 designed to streamline the complexities of international 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 offices in New York, London, and Kiev.
In the dynamic landscape of international company operations, handling payroll throughout borders can be a complex and tough task. As the Chief Financial Officer (CFO) of an international business, I understand the vital value of effective and certified payroll management. In our pursuit of excellence, we have welcomed innovative options to streamline our procedures, and one such transformative tool is Software.
The Challenge of International Payroll:
Global expansion produces varied obstacles, and payroll management is no exception. Differing tax policies, differing work laws, and several currencies make it vital for companies to adopt advanced options to ensure accuracy, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Solution:
It is essential to think about and include post-termination constraints in the employment agreement to ensure enforceability. You need to carefully identify what you are looking for to safeguard and clearly specify the secret information that falls within its scope. Furthermore, specify the duration of the post-termination restriction and be prepared to justify it in relation to intellectual property. The rules relating to intellectual property vary depending on the type of IP and the jurisdiction. For instance, in the Netherlands, the end client is most likely to have copyright rights over works produced by workers under their supervision, while in Poland, legal assignment may be required.
Papaya Global Software has actually become 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 user interface. As the CFO, I have witnessed firsthand the positive impact of on our company’s monetary operations.
Unified Worldwide Payroll Processing:
enables our company to process payroll seamlessly across multiple countries. The platform’s unified technique permits consistent payroll calculations, minimizing errors and making sure compliance with regional guidelines. This has actually significantly alleviated the threats connected with worldwide payroll processing.
also essential for if later on someone says misclassification you have your file supported by the requisite documents which the best evaluation tools to show somebody that you had a thoughtful procedure and so what do you need to consist of in that process it’s the who the what the where and the when who are you dealing with are you handling a specific or are you handling a personal Service Corporation and how are they running what are they doing is it the kind of work that lends itself more to being an independent contractor than a worker so for instance accounting
I.T crafting the creatives these all provide 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 website and managed again another crucial factor is the management and guidance of the uh employee and after that lastly when is it a specific project is it a six-month task 6 years all of this is manageable however it needs to be recorded and it has to be completely um investigated so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out internationally these tools take a questionnaire list for the employee the employee fills out and fills these concerns out and so does completion client or the recipient of the services they both put their details into the tool and then it does an assessment waiting the various concerns since not every jurisdiction has the exact same sensation about a few of these questions some think they’re more important than others and it brings out 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 regards to a few of the things you require to reinforce to ensure that you are given that examination of uh independent specialist or green where you were assessed as an as a independent contractor once that assessment is done all the requisite documents are underneath it so that if in the future there
Browsing the intricacies of global employment laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in guidelines across jurisdictions. This ensures that our payroll procedures comply with the most recent standards, lessening the danger of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal companies who help us keep our databases completely approximately date and we likewise call on we need to when we see an uncommon or or particularly intricate circumstances all right thanks Steve I can just see a fast question in the Q a window yes the session will be taped and sent out to attendees afterwards um returning to to the webinar itself Ray company of record is managed in a different way around the world and the German law for example it’s classified as worker leasing can you shed any light on a few of the unique considerations for nations and where the eor model isn’t controlled yes Ian employee leasing or labor leasing as it’s also called which is prevalent in numerous nations particularly in Europe enforces rigorous guidelines on products such as the length of task it also appoints employees to collective bargaining arrangements that provides rights and advantages but even in the nations that don’t have those strict guidelines for example the UK Canada and the nordics there are regulations for each country and each employee is treated the like all the other employees because country and all those guidelines need to be complied with all right thank you Ray um Kathy moving I would state to yourself what do companies require to consider when figuring out contract status to secure themselves and the rights of hires what are the pros and cons of working with specialists and Freelancers versus long-term staff members so obviously the the benefit of specialists versus employees is the the versatility for both the worker and for the employer um but I can’t stress enough how crucial it is to have a consistent thorough and a well-documented compliance
Papaya Global Payroll Software and Time Savings:
The software application’s automation abilities have substantially minimized the time and effort needed for payroll processing. Manual data entry and recurring tasks have been lessened, allowing our finance team to concentrate on strategic efforts instead of administrative concerns. This has led to increased performance and performance within our financial operations.
in one because each state has its own policies Californians are some of the most stringent an example is pay slips on a payslip in California the ideal info has to be on the payslip in the ideal format and in the right position if you remain 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 stress to consider and we’re just two questions in and 10 minutes or so hiring in one country is difficult enough however when working with in a you know on a global level it’s a totally various story you require to ensure that you depend on date with existing along with pending local labor laws Steve um how do you make sure and guarantee that the people 2.0 team is on top of an ever-changing landscape and that your clients are fully supported and I’ll arrange this into 3 essential things we carry out in most importantly you need to have the ideal team so we work with a team of international specialists in Work Practices um that ex that group of experts includes lawyers it includes payroll professionals it includes HR experts and these are people that not only know the laws in these in these countries and regions however they also understand the languages they understand the regional practices they understand the cultures and it’s important to have that ideal group and truly have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and timely monetary data is vital for decision-making. The platform’s reporting abilities empower me to make informed strategic choices based on real-time insights into our worldwide payroll information.
The useful application and degree of the application to employment law can be assessed through the legal system using case law examples. For example, the obtained rights directive, likewise called the 2p policies in the UK, and the working time policies have actually been subject to various legal interpretations, particularly concerning holiday pay. In addition, the idea of work status has seen numerous legal precedents over the
Scalability for Service Development:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software application perfectly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the developing needs of our international organization.
Global Chief legal officer we’ve 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 state separately and collectively these 3 people have Years of experience in in work law and worldwide Employment Practices so thank you it’s a satisfaction 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 among our own Stars delete share head of Global Solutions at papaya Global inform us about yourself thank you Elin Ian hi my name is Elite I have actually been with the company for around four and a half years as head of Partnerships I have established Papaya’s network of in-country Partners in over 160 areas on an individual aspect and related to our subject today I have actually had the chance to move and operate in 3 various nations it is the business’s obligation to ensure my protection while living 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 people 2.0 to demonstrate the importance of local
knowledge when business Go Worldwide thank you and delight in okay thank you as I said let’s carry on to the pact program today’s webinar is a chance to ask the panel the concerns you’ve been thinking about we’ll talk about the facts a company needs to consider when opening a new entity and broadening into new countries in addition to keeping things going we’ll cover aspects such as local guidelines factors to consider when hiring compliance essential obstacles payments and what not to do it’s one of 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 comprehend and manage understanding what to do in each new circumstance as it increases is essential on lots of levels comprehending regional guidelines and regional laws along with business practices assists reduce Associated and international expansion papaya through our regional specialists can browse potential threats such as copyright defense information privacy security issues ensuring the company’s operations stay certified and safe and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software has shown to be an invaluable asset in our quest for effective and certified worldwide payroll management. As the CFO of a worldwide business, I am positive in recommending Papaya Global to organizations seeking to simplify their payroll processes, enhance compliance, and achieve greater effectiveness in handling their worldwide labor force. The software’s ingenious functions and dedication to quality align with our strategic objectives, making it an integral part of our financial operations.
I find time and time again the employees often misclassified unconsciously they don’t understand the conditions of employment or agreement and are told by the client why it’s most advantageous primarily to the client why you need to be utilized or participated in this style the worker might owe taxes and Social Security to the authorities the future pension and healthcare opportunities of the employee can be affected and numerous times it can be years before this all falls out and by that time it’s far too late years have passed they haven’t added to pensions Etc so it’s a big effect that they never understood they were walking into you could not agree with you more if you state the UK for example hmrc can return as much as ten years um Kathy companies are securing insurance coverage versus misclassification but typically premiums are just covering the cost of legal charges whilst the average claim examined versus employers corresponds to to 40 or 50 percent of the base pay of worker is there any point in securing insurance and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes penalty and interest for the most part I have not seen it at least 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 protection on the basis of the truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Payroll Software …
The extensive functions of come at an expense,
Over the past couple of years, the workforce has gone through a significant change with the emergence of remote work, which has actually gotten rid of geographical restraints on hiring. This has made it possible for organizations to recruit skill from all over the world, allowing them to assemble the very best possible group for each function. As a result, staff members have actually acquired higher versatility to work from home and increase their earnings without needing to transfer to costly locations or commute fars away. According to a 2022 survey, 87% of employees who have the choice to work remotely choose to do so. The COVID-19 pandemic, combined with improvements in enterprise connection software, has even more accelerated the shift towards remote work, even in industries that were initially reluctant to adopt the pattern.
insights are important to us and and your fellow attendees so first things first though um let’s learn more about everybody my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had roles in all kind of Industries retail and Charm to Aerospace in all types of businesses startup to matrixed environments around the world I supplied management and method to populations of more than 100,000 employees on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work throughout business guy maning and developing external relationships supporting Enterprise clients and options and serving as an advisor I want 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 said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our internal legal group and in fact work really closely with our um HR department too to handle numerous legal and HR matters that come up so actually delighted to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our mission is to set you as HR professionals complimentary to do great
While Papaya Global offers integrations with different HR and finance systems, the execution procedure was not without challenges. Integrating the software application with our existing infrastructure required extra modification, leading to some delays in the preliminary rollout.
Paying FAQs Papaya Global Payroll Software 2024
and some smaller subsidiaries within our company discovered the rates to be on the higher side. As a global business, stabilizing the need for sophisticated features with budget restrictions became a delicate workout.
Customer Assistance Reaction Time:
There were instances where our teams dealt with problems that required timely support. Nevertheless, the response time from’s consumer support group was not constantly as quick as desired, leading to occasional hold-ups in concern resolution.
Our implementation of included a phased technique. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This enabled us to determine and address integration difficulties early on. As the software became more instilled in our operations, we slowly expanded its use to cover our whole international labor force.
The automated features structured our payroll processes, lowering the time invested in manual calculations and compliance tracking. Regular training sessions and ongoing support from Papaya assisted our groups become skilled users of the software application, optimizing its capacity for our company.
Nevertheless, paying a workforce can be intricate. It is particularly challenging for companies who utilize personnel throughout multiple countries, as they need to continuously combine different data streams, by hand track local and nationwide labor and guidelines, and invest important time and resources to set up local entities in new locations. These business are faced with suboptimal, expensive choices, like opening a foreign subsidiary or working with an expert work organization, which is a local company that employs workers on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty hiring certified personnel, a boost of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is predicted to reach $50.4 billion by 2030.
uses an option supporting all forms of employment. It offers an end-to-end platform, from staff member onboarding and continuous management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they run, provides management of employment benefits, and makes sure information 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 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 participate in the complete webcast in order to receive your credits if you have any questions throughout the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your web browser with the webcast study please be 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 presentation hey there and thank you for joining us today we’re enjoyed have you here as we embark on a journey of data to policy accomplishing
360 degree employee compliance where we’ll dive into the essential elements of the worker compliance management design throughout the session we’ll check out real world difficulties genuine local policies best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to secure your company and staff members while remaining certified in an
Ever evolving regulative environment in the everchanging world of business and finance ensuring compliance with payroll regulations is not just vital however also a legal essential from the minute of hiring to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance threats that have significant consequences however with a deeper more nuanced understanding of their commitments organizations can not only navigate the detailed landscape however likewise proactively guarantee this 360 degree compliance the webinar is designed to equip you with the knowledge and tools essential to browse the complex Terrain of compliance whether you’re an experienced P expert a small business owner or somebody new to the field what I would like to do before we begin and I believe it’s actually crucial
In our quest to enhance efficiency and accuracy in handling our worldwide labor force, our international corporation turned to, a leading and labor force management software. The transition intended to simplify the complex task of handling across various countries, currencies, and compliance regulations.
Among 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 throughout several jurisdictions. This has actually been indispensable in making sure that our procedures stay certified in each nation of operation.
is to state that the content here is not legal advice it is just for your details please consult your legal group ought to you have any questions or issues in relation to anything that we have actually talked about today our secret take essential takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to employ ly with confidence how to simplify information management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
act as your hris or is sort of your core employee record um to manage that employee life process throughout their Journey with you as as a worker in addition to a payroll module we need to help you pay those staff members and compensate them and advantages Administration module that allows you to assist manage the benefits you offer to your workers so actually excited to be here represent um bamb booy jar and talk about this topic um and I guess from my viewpoint I’ll I’ll most likely offer a lot of a concentrate on the US side of things when we talk about sort of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay international yes definitely thank you Ian hello everybody I’m Gina dorelis I’m the Employment expert supervisor.
at I handle the employment Council in the United States APAC EMA and Israel region I likewise work as us Council for I’m certified in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and workforce management as a Service labor force provider to workers serving in over.
160 nations alright thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were sort of like going through the intro so it’s actually truly great to really see in the webinar chat where everyone’s really attending from today I can see that we have individuals in Las Vegas and Indiana already so if you wish to carry on inform where you are that would be absolutely great whilst we simply wait on everyone else to type of like participate there we go Chicago also well um so whil we’re doing that I’m waiting on everybody to type of join I’ll simply run us through the program um today we are going to discuss hiring Skill new higher Info Management termination compliance and automation wow the chat has actually got actually actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is wonderful so uh I’m hoping that we’re really going to have some really 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 Personal privacy side of things so the the Journey of a worker and their data is Papaya Global Payroll Software complex without fail and an.
Ever evolving relationship that starts the minute a person joins an organization it continues throughout their work and Beyond this journey can be divided into k to a number of essential stages whilst we’re in fact you understand that they’re used with us so on boarding day-to-day operations payment and advantages expert development then we get to the offboarding and even advocacy so it even takes place after the employee has actually left your work throughout the journey companies are responsible for gathering saving securing staff member information in compliance with data personal privacy policies no matter where it is you’re operating around the globe it often involves carrying out safe and secure data management systems and making sure stringent adherence to local requirements to secure both the employee and the company the advancement of worker data and management c.