A CFO’s Perspective on Papaya Global Payroll Youtube…
Papaya Global’s platform enhances global workforce management for companies, making sure compliance with regional policies and tax laws. Their services incorporate payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes worldwide payroll operations, offering companies with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of worldwide service operations, managing payroll across borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a worldwide business, I understand the crucial significance of efficient and certified payroll management. In our pursuit of excellence, we have actually welcomed ingenious services to streamline our procedures, and one such transformative tool is Software.
The Difficulty of Worldwide Payroll:
Worldwide expansion causes diverse difficulties, and payroll management is no exception. Differing tax guidelines, varying employment laws, and multiple currencies make it necessary for organizations to embrace advanced solutions to guarantee precision, compliance, and performance in payroll processing.
Software: A Comprehensive Service:
workers so it’s actually essential to ensure that you have actually thought about from the outset any post-termination constraints that you want to take into the contract of employment that they’re enforceable so that suggests you require to actually think of what it is you’re looking to safeguard and why clearly Define what’s included within the scope of that confidential information and address the duration of constraint post-determination that you want to apply and be actually able to to validate that in relation to intellectual property the position really depends upon the kind of copyright you’re seeking to safeguard and also the jurisdiction so for instance from a copyright perspective in the Netherlands completion customer is more likely to have the um copyright rights in a copyright that the employees produced who’s been under their guidance and control immediately however in someplace like Poland for instance that automated right may not be there and that task would require to stream through the chain uh contractually so it really depends on the jurisdiction and the kind of IP okay thank you Elizabeth Steve was staying on the topic of agreements Miss classified misclassifying employees
Papaya Global Software application has emerged as a game-changer in the realm of worldwide 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 seen firsthand the favorable effect of on our company’s financial operations.
Unified International Payroll Processing:
enables our company to process payroll perfectly throughout multiple nations. The platform’s unified technique allows for consistent payroll calculations, decreasing errors and ensuring compliance with local guidelines. This has substantially alleviated the dangers related to global payroll processing.
likewise key for if in the future somebody states misclassification you have your file supported by the requisite documents and that the ideal 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 handling are you dealing with an individual or are you handling a personal Service Corporation and how are they running what are they doing is it the type of work that lends itself more to being an independent specialist than an employee 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 have to be on site and managed again another key aspect is the management and guidance of the uh employee and then finally when is it a specific job is it a six-month task six years all of this is workable but it has to be recorded and it needs to be completely um examined 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 globally these tools take a questionnaire list for the worker the worker completes and fills these concerns out therefore does the end customer or the recipient of the services they both put their details into the tool and after that it does an examination waiting the different questions due to the fact that not every jurisdiction has the exact same feeling about a few of these questions some think they’re more vital than others and it comes out with a red yellow or green red you’re probably a worker yellow you’re on the cusp we can probably assist you with that in terms of some of the things you need to boost to make certain that you are given that examination of uh independent professional or green where you were examined as an as a independent professional once that examination is done all the requisite files are below it so that if in the future there
Browsing the complexities of worldwide employment laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our company up-to-date with modifications in regulations across jurisdictions. This guarantees that our payroll processes follow the current requirements, minimizing the danger of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal firms who help us keep our databases totally up to date and we likewise contact we require to when we see an uncommon or or particularly intricate scenarios okay thanks Steve I can just see a quick question in the Q a window yes the session will be taped and sent to participants later on um returning 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 unique considerations for nations and where the eor design isn’t controlled yes Ian staff member leasing or labor leasing as it’s also called which prevails in numerous nations particularly in Europe enforces rigorous regulations on products such as the length of project it likewise appoints workers to collective bargaining contracts that provides rights and advantages however even in the nations that don’t have those rigorous regulations for instance the UK Canada and the nordics there are policies for each country and each worker is treated the same as all the other employees in that nation and all those guidelines require to be followed fine thank you Ray um Kathy moving I would say to yourself what do business need to consider when figuring out agreement status to protect themselves and the rights of hires what are the pros and cons of working with specialists and Freelancers versus permanent workers so undoubtedly the the advantage of contractors versus workers is the the versatility for both the employee and for the company um but I can’t worry enough how crucial it is to have a constant extensive and a well-documented compliance
Papaya Global Payroll Youtube and Time Savings:
The software application’s automation abilities have actually significantly decreased the time and effort needed for payroll processing. Handbook information entry and repetitive tasks have been lessened, permitting our finance group to concentrate on strategic initiatives instead of administrative concerns. This has led to increased performance and efficiency within our financial operations.
in one since each state has its own policies Californians are a few of the most stringent 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 right position if you remain in breach of of guidelines for payslips the fines are issued per payslip so that’s each staff member each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think about and we’re just two questions in and 10 minutes or two hiring in one country is tough enough but when working with in a you understand on a worldwide level it’s an entirely various story you need to make certain that you depend on date with present in addition to pending local labor laws Steve um how do you make certain and ensure that individuals 2.0 team is on top of an ever-changing landscape and that your customers are completely supported and I’ll arrange this into three essential things we carry out in primarily you require to have the ideal team so we work with a team of global professionals in Work Practices um that ex that team of professionals includes legal representatives it includes payroll professionals it includes HR specialists and these are individuals that not only understand the laws in these in these nations and regions but they likewise understand the languages they know the regional practices they understand the cultures and it is necessary to have that ideal group and truly have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt monetary data is important for decision-making. The platform’s reporting abilities empower me to make informed strategic decisions based on real-time insights into our global payroll information.
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 policies which has had various hairs of that legislation tested especially around holiday pay and obviously as Kathy’s going to come on to speak about later employment status which there’s been numerous precedence set for many years so I think it’s truly that constant evolution of the employment law landscape that you really require to navigate when when working in Europe okay thank you Elizabeth Ray what about you from your individual experience while moving across the pond as mentioned each country has various policies however the United States is basically 50 nations
Scalability for Company Growth:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software application perfectly accommodates modifications in our labor force and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the evolving needs of our worldwide organization.
International Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Look who is our senior vice president of client services and I would state individually and jointly these 3 people have Decades of experience in in work law and global Employment Practices so thank you it’s an enjoyment to be with everyone here today seems like we’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 hi my name is Elite I’ve been with the company for around 4 and a half years as head of Partnerships I have developed Papaya’s network of in-country Partners in over 160 areas on a personal aspect and related to our subject today I’ve had the chance to move and operate in 3 various nations it is the company’s responsibility to guarantee my security while living in a foreign nation compliance with regional laws and regulations is important for me or anyone else as an expat or as a local so today we have invited our trusted Partners individuals 2.0 to demonstrate the importance of regional
know-how when companies Go Worldwide thank you and delight in 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 have actually been thinking about we’ll discuss the realities a business requires to think about 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 considerations when employing compliance crucial challenges payments and what not to do it is among the most essential things remembering what not to do um operating on a worldwide level is not for the faint-hearted the larger a company grows the more they need to comprehend and manage knowing what to do in each new situation as it increases is important on numerous levels understanding local guidelines and regional laws as well as service practices assists reduce Associated and worldwide expansion papaya through our local specialists can browse potential risks such as intellectual property security information privacy security problems making sure the company’s operations stay certified and safe tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has shown to be an important property in our quest for effective and certified worldwide payroll management. As the CFO of a global company, I am positive in recommending Papaya Global to organizations looking for to improve their payroll procedures, improve compliance, and accomplish greater performance in managing their worldwide workforce. The software’s innovative functions and commitment to excellence align with our strategic objectives, making it an essential part of our monetary operations.
I discover time and time again the workers frequently misclassified unknowingly they don’t comprehend the conditions of work or agreement and are told by the client why it’s most advantageous primarily to the client why you need to be employed or taken part in this style the employee may owe taxes and Social Security to the authorities the future pension and health care benefits of the worker can be affected and several times it can be years before this all falls out and by that time it’s too late years have actually passed they haven’t added to pensions And so on so it’s a huge impact that they never understood they were walking into you could not agree with you more if you say the UK for example hmrc can return as much as 10 years um Kathy business are getting insurance against misclassification however usually premiums are only covering the expense of legal charges whilst the average claim examined against employers relates to to 40 or half of the base pay of employee is there any point in taking out insurance coverage 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 charge and interest in most cases I haven’t seen it at least so uh the the other location that I do think if you managed to get the coverage what we are stating is is that if your compliance program is not up to pack you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Payroll Youtube …
The comprehensive functions of come at an expense,
Current years have seen a dramatic modification to the workforce as the increase of remote work has actually broken down geographical barriers to hiring. Organizations can now work with staff from anywhere worldwide, allowing them to access the best offered skill for any offered role. This provides workers more liberty to work from home and increase their income without moving to pricey areas or travelling cross countries. A 2022 survey discovered that 87% of employees who have the chance to work remotely take that opportunity. The outbreak of COVID-19, in conjunction with brand-new enterprise connection software, sped up the move to remote work, consisting of in industries formerly hesitant to welcome the trend.
insights are important to us and and your fellow participants so first things initially though um let’s get to know everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I have actually had roles in all kind of Industries retail and Appeal to Aerospace in all types of organizations startup to matrixed environments across the globe I supplied management and technique to populations of more than 100,000 workers on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
International I work across business guy maning and building external relationships supporting Business customers and services and acting as a consultant I ‘d like to present our very first Greg um visitor Greg who will kick things off by informing us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal team and really work really carefully with our um HR department as well to manage numerous legal and HR matters that show up so really excited 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 professionals totally free to do great
Although Papaya Global supplies combinations with different HR and finance systems, we experienced some obstacles during the combination process. Personalizing the software to line up with our existing infrastructure showed to be more intricate than expected, resulting in delays in the initial rollout.
The substantial functions provided by Papaya Global come at an expense, which some of our smaller subsidiaries discovered to be prohibitively expensive. As a worldwide organization, we needed to carefully weigh the requirement for innovative performance against budget plan constraints.
Support Reaction Time:
On occasion, our groups experienced problems that needed immediate assistance. Nevertheless, the reaction time from Papaya Global’s client assistance team was not always as timely as we would have liked, resulting in delays in fixing those issues.
Our application of involved a phased method. 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 ingrained in our operations, we slowly expanded its usage to cover our whole worldwide labor force.
The automated features streamlined our payroll processes, lowering the time spent on manual estimations and compliance tracking. Routine training sessions and continuous assistance from Papaya helped our teams become competent users of the software application, maximizing its potential for our organization.
Nevertheless, paying a labor force can be intricate. It is especially challenging for business who use staff across several nations, as they need to constantly combine different information streams, manually track regional and nationwide labor and regulations, and invest valuable time and resources to set up local entities in brand-new areas. These business are faced with suboptimal, expensive choices, like opening a foreign subsidiary or employing a professional employment company, which is a local company that hires employees on their behalf and can charge up to 15% of. By 2022, 75% of companies reported problem recruiting certified workers, 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 an option supporting all forms of employment. It offers an end-to-end platform, from staff member onboarding and continuous management to global payments and. It assists business with labor law compliance in the jurisdictions in which they operate, provides management of employment benefits, and makes sure data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading professional 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 attend the complete webcast in order to get 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 new tab will open in your internet browser with the webcast survey please make sure to finish it as quickly 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 enjoyed have you here as we embark on a journey of data to guideline attaining
360 degree staff member compliance where we’ll dive into the important aspects of the staff member compliance management design throughout the session we’ll check out real life obstacles genuine local regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to safeguard your company and employees while remaining certified in an
Ever progressing regulatory environment in the everchanging world of business and financing making sure compliance with payroll policies is not only essential however likewise a legal necessary from the minute of employing to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance dangers that have significant repercussions nevertheless with a deeper more nuanced understanding of their responsibilities companies can not just navigate the elaborate landscape however likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools necessary to browse the complex Surface of compliance whether you’re a seasoned P expert a small company owner or someone new to the field what I would like to do before we begin and I believe it’s truly crucial
In our mission to boost effectiveness and accuracy in managing our global labor force, our international corporation turned to, a leading and labor force management software application. The transition intended to simplify the complex task of handling across different countries, currencies, and compliance regulations.
One of the standout features of is its robust compliance management system. The software application immediately updates itself to follow ever-evolving tax and labor laws throughout multiple jurisdictions. This has been indispensable in guaranteeing that our procedures stay compliant in each country of operation.
is to state that the material here is illegal recommendations it is just for your details please consult your legal team needs to you have any questions or issues in relation to anything that we’ve discussed today our secret take essential takeaways by the end of the webinar will be an understanding of worker compliance threats how to employ ly with self-confidence how to streamline data management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.
function as your hris or is type of your core employee record um to handle 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 employees and compensate them and benefits Administration module that permits you to help manage the benefits you offer to your workers so really delighted to be here represent um bamb booy container and discuss this topic um and I think from my point of view I’ll I’ll most likely provide a lot of a concentrate on the US side of things when we speak about sort of compliance so delighted to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a bit about papay international yes definitely thank you Ian hi everyone I’m Gina dorelis I’m the Employment specialist manager.
at I manage the work Council in the US APAC EMA and Israel area I also function as us Council for I’m licensed in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service work force provider to employees serving in over.
160 nations alright thank you so both I feel completely underqualified sitting here with you both well I forgot to point out as we were kind of like going through the intro so it’s actually really nice to really 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 already so if you want to carry on inform where you are that would be absolutely wonderful whilst we simply wait on everybody else to kind of like participate there we go Chicago as well well um so whil we’re doing that I’m awaiting everybody to type of join I’ll just run us through the program um today we are going to go over hiring Talent brand-new greater Information 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 definitely all over which is great so uh I’m hoping that we’re actually going to have some actually fantastic commentary and concerns throughout the uh the webinar too all right so that’s the program then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their information is Papaya Global Payroll Youtube multifaceted without fail and an.
Ever evolving relationship that begins the minute a person joins a company it continues throughout their work and Beyond this journey can be divided into k to several essential stages whilst we’re actually you know that they’re used with us so on boarding everyday operations settlement and advantages professional development then we get to the offboarding and even advocacy so it even happens after the worker has left your employment throughout the journey companies are accountable for gathering keeping safeguarding employee data in compliance with data privacy regulations no matter where it is you’re running around the world it often includes carrying out safe and secure data management systems and making sure rigorous adherence to regional requirements to secure both the worker and the organization the development of worker information and management c.