A CFO’s Perspective on Papaya Global Payroll Tulsa Ok…
Papaya Global’s platform improves global workforce management for companies, making sure compliance with local policies and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and participation tracking, and HR support. The platform centralizes international payroll operations, supplying businesses with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of global business operations, managing payroll across borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of a worldwide business, I understand the important value of effective and certified payroll management. In our pursuit of quality, we have embraced innovative services to streamline our procedures, and one such transformative tool is Software.
The Difficulty of Global Payroll:
International expansion produces diverse obstacles, and payroll management is no exception. Differing tax regulations, differing work laws, and numerous currencies make it crucial for organizations to embrace sophisticated solutions to guarantee accuracy, compliance, and performance in payroll processing.
Software: A Comprehensive Option:
It is crucial to consider and include post-termination restrictions in the employment agreement to ensure enforceability. You need to carefully identify what you are looking for to protect and plainly define the confidential information that falls within its scope. In addition, specify the duration of the post-termination limitation and be prepared to justify it in relation to intellectual property. The guidelines relating to copyright differ depending on the type of IP and the jurisdiction. For example, in the Netherlands, the end customer is likely to have copyright rights over works produced by employees under their guidance, while in Poland, contractual project may be required.
Papaya Global Software has actually emerged as a game-changer in the world of international payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually seen firsthand the positive impact of on our company’s financial operations.
Unified Worldwide Payroll Processing:
allows our company to procedure payroll flawlessly throughout numerous nations. The platform’s unified technique permits constant payroll estimations, lowering mistakes and guaranteeing compliance with local guidelines. This has considerably mitigated the threats associated with global payroll processing.
also essential for if in the future someone states misclassification you have your file supported by the requisite documents which the ideal examination tools to reveal someone that you had a thoughtful process and so what do you have to consist of because process it’s the who the what the where and the when who are you dealing with are you handling an individual or are you dealing with an individual Service Corporation and how are they running what are they doing is it the type of work that lends itself more to being an independent professional than a staff member so for instance accounting
I.T engineering the creatives these all lend themselves more to that examination of being freelancer you understand also uh where are they doing it can they work from anywhere or do they have to be on website and managed again another key element is the management and supervision of the uh employee and then lastly when is it a particular job is it a six-month task 6 years all of this is manageable but it has 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’ve improved it this year so that we can roll it out internationally these tools take a questionnaire list for the employee the worker fills out and fills these concerns out therefore does completion client or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the different concerns since not every jurisdiction has the exact same feeling about some of these questions some believe they’re more important than others and it brings out a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can most likely help you with that in terms of a few of the things you require to bolster to make certain that you are given that evaluation of uh independent professional or green where you were evaluated as an as a independent specialist once that examination is done all the requisite files are underneath it so that if later there
Navigating the complexities of worldwide employment laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization current with changes in policies throughout jurisdictions. This guarantees that our payroll procedures stick to the current requirements, decreasing the threat of non-compliance and associated penalties.
network of In-House outside advisors accounting companies and legal firms who help us keep our databases completely as much as date and we likewise get in touch with we need to when we see an unusual or or particularly complex scenarios all right thanks Steve I can just see a quick concern in the Q a window yes the session will be tape-recorded and sent to participants afterwards 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 classified as worker leasing can you shed any light on a few of the unique factors to consider for countries and where the eor design isn’t regulated yes Ian employee leasing or labor leasing as it’s also called which is prevalent in numerous nations specifically in Europe enforces stringent regulations on items such as the length of assignment it likewise assigns workers to collective bargaining arrangements that gives them rights and advantages however even in the countries that don’t have those rigorous policies for example the UK Canada and the nordics there are guidelines for each nation and each employee is treated the same as all the other employees in that country and all those regulations need to be complied with okay thank you Ray um Kathy moving I would state to yourself what do companies need to factor in when identifying agreement status to safeguard themselves and the rights of hires what are the advantages and disadvantages of hiring contractors and Freelancers versus permanent staff members so undoubtedly the the benefit of contractors versus employees is the the versatility for both the employee and for the employer um but I can’t stress enough how essential it is to have a consistent comprehensive and a well-documented compliance
Papaya Global Payroll Tulsa Ok and Time Cost Savings:
The software’s automation capabilities have actually considerably lowered the time and effort needed for payroll processing. Handbook data entry and repetitive jobs have been reduced, enabling our finance team to concentrate on strategic efforts instead of administrative problems. This has led to increased effectiveness and performance within our monetary operations.
in one considering that each state has its own guidelines Californians are a few of the most strict an example is pay slips on a payslip in California the ideal info needs to be on the payslip in the best format and in the right position if you remain in breach of of policies 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 think about and we’re just 2 concerns in and 10 minutes or two employing in one country is challenging enough but when working with in a you know on a global level it’s an entirely different story you need to make sure that you’re up to date with existing in addition to pending regional labor laws Steve um how do you ensure and guarantee that the people 2.0 group is on top of an ever-changing landscape which your customers are totally supported and I’ll organize this into 3 key things we do in firstly you require to have the ideal group so we employ a group of worldwide professionals in Employment Practices um that ex that group of experts consists of legal representatives it includes payroll specialists it consists of HR experts and these are people that not just understand the laws in these in these countries and areas however they likewise know the languages they understand the regional practices they know the cultures and it is essential to have that best group and truly have the team 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 accurate and timely monetary data is essential for decision-making. The platform’s reporting abilities empower me to make educated tactical decisions based on real-time insights into our global payroll data.
application and its scope and the way that it applies to employment law in practice can be tested through the judicial system by way of case law examples of that would be the obtained rights directive otherwise referred to as the 2p guidelines in the UK the working time guidelines which has had different strands of that legislation tested particularly around holiday pay and obviously as Kathy’s going to come on to talk about later employment status which there’s been several precedence set over the years so I believe it’s really that constant advancement of the employment law landscape that you truly require to navigate when when working in Europe alright thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each nation has different policies however the United States is basically 50 countries
Scalability for Company Development:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into brand-new markets, the software seamlessly accommodates modifications in our workforce and payroll requirements. This scalability guarantees that our payroll facilities can adapt to the developing needs of our global company.
Global Chief legal officer we have actually 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 Decades of experience in in work law and international Employment Practices so thank you it’s a satisfaction to be with everyone here today seems like we’ve 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 Services at papaya Worldwide inform 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 Partnerships I have developed Papaya’s network of in-country Partners in over 160 locations on an individual element and related to our subject today I have actually had the chance to transfer and work in 3 different nations it is the business’s duty to ensure my defense while living in a foreign nation compliance with regional laws and policies is essential for me or anybody else as an expat or as a regional so today we have actually welcomed our relied on Partners people 2.0 to show the value of regional
competence when companies Go Global thank you and enjoy okay thank you as I stated let’s carry on to the pact agenda today’s webinar is a chance to ask the panel the questions you’ve been considering we’ll talk about the realities a business needs to consider when opening a brand-new entity and broadening into new countries as well as keeping things going we’ll cover elements such as local guidelines considerations when working with compliance crucial obstacles payments and what not to do it is among the most crucial things remembering what not to do um operating on an international level is not for the faint-hearted the larger a business grows the more they require to comprehend and handle knowing what to do in each brand-new scenario as it increases is necessary on lots of levels comprehending regional policies and regional laws in addition to organization practices helps reduce Associated and worldwide expansion papaya through our local professionals can browse potential dangers such as copyright protection information personal privacy security problems guaranteeing the company’s operations remain certified and protected tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has proven to be a vital property in our quest for effective and compliant worldwide payroll management. As the CFO of an international company, I am confident in suggesting Papaya Global to companies seeking to streamline their payroll processes, improve compliance, and attain higher effectiveness in managing their global labor force. The software’s innovative functions and dedication to excellence align with our tactical objectives, making it an important part of our monetary operations.
I discover time and time again the employees frequently misclassified unconsciously they do not understand the conditions of employment or agreement and are told by the customer why it’s optimum generally to the client why you need to be utilized or taken part in this fashion 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 numerous times it can be years before this all falls out and by that time it’s too late years have gone by they haven’t added to pensions Etc so it’s a big impact that they never knew they were walking into you couldn’t agree with you more if you state the UK for example hmrc can return as much as ten years um Kathy business are getting insurance coverage versus misclassification however normally premiums are only covering the cost of legal charges whilst the typical claim evaluated versus companies corresponds to to 40 or 50 percent of the base salary of worker is there any point in taking out insurance and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes charge and interest for the most part I have not seen it at least so uh the the other area 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 pack you could be denied 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 Tulsa Ok …
The comprehensive functions of come at an expense,
Over the past couple of years, the labor force has actually undergone a significant transformation with the introduction of remote work, which has actually eliminated geographical restraints on hiring. This has allowed organizations to recruit skill from all over the world, enabling them to put together the very best possible team for each function. As a result, workers have actually acquired greater flexibility to work from home and increase their profits without having to relocate to pricey areas or commute cross countries. According to a 2022 study, 87% of workers who have the alternative to work remotely select to do so. The COVID-19 pandemic, integrated with improvements in business connection software, has actually further accelerated the shift towards remote work, even in industries that were at first reluctant to embrace the pattern.
insights are important to us and and your fellow guests so first things initially though um let’s be familiar with everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I have actually had roles in all type of Industries retail and Appeal to Aerospace in all types of services startup to matrixed environments across the globe I supplied management and method to populations of more than 100,000 workers on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
International I work across the business man maning and building external relationships supporting Enterprise clients and solutions and serving as a consultant I ‘d like to present our first Greg um visitor Greg who will kick things off by telling us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal team and in fact work extremely carefully with our um HR department also to deal with numerous legal and HR matters that show up so truly delighted to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our objective is to set you as HR experts totally free to do fantastic
Although Papaya Global offers integrations with numerous HR and financing systems, we encountered some difficulties during the combination process. Tailoring the software to line up with our existing facilities showed to be more complicated than prepared for, leading to delays in the preliminary rollout.
The extensive functions provided by Papaya Global come at an expense, which a few of our smaller subsidiaries discovered to be excessively costly. As a worldwide organization, we needed to carefully weigh the requirement for advanced functionality versus budget plan restraints.
Assistance Reaction Time:
On occasion, our groups experienced issues that required immediate assistance. However, the response time from Papaya Global’s customer assistance group was not constantly as timely as we would have liked, leading to hold-ups in fixing those problems.
Our implementation of involved a phased method. We started by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This permitted us to recognize and attend to combination difficulties early on. As the software application ended up being more instilled in our operations, we gradually broadened its usage to cover our whole international labor force.
The automated features streamlined our payroll processes, reducing the time spent on manual estimations and compliance tracking. Routine training sessions and continuous support from Papaya assisted our teams end up being proficient users of the software, maximizing its capacity for our organization.
However, paying a labor force can be complicated. It is especially challenging for companies who employ personnel throughout several countries, as they should continuously combine various information streams, manually track local and nationwide labor and policies, and invest valuable time and resources to set up regional entities in new locations. These companies are confronted with suboptimal, pricey alternatives, like opening a foreign subsidiary or working with a professional work organization, which is a local company that employs workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble hiring qualified personnel, a boost of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers an option supporting all types of employment. It supplies an end-to-end platform, from worker onboarding and continuous management to global payments and. It assists business 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 specialist in payroll and labor force management. She co-founded after seeing the innovation gap in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to go to the complete webcast in order to receive your credits if you have any questions during the webcast please click the Q&A tab in your webinar controls and type the there a brand-new tab will open in your internet browser with the webcast study please be sure to complete it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hello and thank you for joining us today we’re thrilled to have you here as we start a journey of information to guideline achieving
360 degree employee compliance where we’ll dive into the vital aspects of the employee compliance management model throughout the session we’ll explore real world difficulties real local regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to secure your organization and workers while remaining compliant in an
Ever evolving regulatory environment in the everchanging world of organization and finance guaranteeing compliance with payroll guidelines is not just crucial but likewise a legal crucial from the minute of employing to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance dangers that have far-reaching effects nevertheless with a deeper more nuanced understanding of their responsibilities organizations can not just navigate the detailed landscape however also proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools essential to navigate the complex Surface of compliance whether you’re an experienced P specialist a small company owner or someone brand-new to the field what I want to do before we start and I think it’s actually crucial
In our quest to boost performance and precision in handling our worldwide workforce, our international corporation turned to, a leading and workforce management software application. The shift intended to streamline the complex job of managing across numerous countries, currencies, and compliance policies.
One of the standout functions of is its robust compliance management system. The software instantly updates itself to stick to ever-evolving tax and labor laws across multiple jurisdictions. This has been indispensable in ensuring that our procedures stay compliant in each country of operation.
is to state that the material here is illegal suggestions it is just for your information please consult your legal team must you have any questions or concerns in relation to anything that we’ve discussed today our key take key takeaways by the end of the webinar will be an understanding of employee compliance dangers how to work with 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 kind of your core employee 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 help you pay those staff members and compensate them and benefits Administration module that enables you to help handle the benefits you provide to your workers so truly delighted to be here represent um bamb booy container and talk about this topic um and I guess from my viewpoint I’ll I’ll probably offer a great deal of a focus on the United States side of things when we discuss sort 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 little bit about papay international yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Work specialist supervisor.
at I handle the employment Council in the US APAC EMA and Israel region I also function as us Council for I’m licensed in New york city and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we offer 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 totally underqualified sitting here with you both well I forgot to mention as we were kind of like going through the introduction so it’s really truly nice to in fact see in the webinar chat where everyone’s actually participating in from today I can see that we have people in Las Vegas and Indiana currently so if you wish to continue inform where you are that would be definitely great whilst we just wait for everyone else to type of like participate there we go Chicago also well um so whil we’re doing that I’m awaiting everybody to kind of join I’ll just run us through the agenda um today we are going to talk about employing Skill new higher Information Management termination compliance and automation wow the chat has got really really 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 actually excellent commentary and questions throughout the uh the webinar also okay so that’s the agenda then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of an employee and their data is Papaya Global Payroll Tulsa Ok diverse without fail and an.
Ever developing relationship that begins the moment an individual signs up with a company it continues throughout their work and Beyond this journey can be divided into k to several crucial phases whilst we’re really you know that they’re employed with us so on boarding day-to-day operations settlement and advantages professional development then we get to the offboarding and even advocacy so it even takes place after the worker has left your work throughout the journey companies are responsible for collecting saving securing employee data in compliance with data personal privacy guidelines no matter where it is you’re operating all over the world it typically includes implementing safe data management systems and making sure strict adherence to local requirements to secure both the staff member and the organization the advancement of staff member information and management c.