A CFO’s Viewpoint on Papaya Global Print Checks…
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 presence tracking, and HR assistance. The platform centralizes worldwide payroll operations, offering companies 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 international business operations, handling payroll across borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a global business, I comprehend the important value of effective and certified payroll management. In our pursuit of excellence, we have actually embraced innovative services to streamline our procedures, and one such transformative tool is Software.
The Challenge of Worldwide Payroll:
Worldwide expansion causes diverse challenges, and payroll management is no exception. Differing tax policies, differing work laws, and multiple currencies make it imperative for organizations to embrace sophisticated options to make sure precision, compliance, and efficiency in payroll processing.
Software: A Comprehensive Option:
It is essential to consider and include post-termination constraints in the employment agreement to guarantee enforceability. You should carefully identify what you are looking for to safeguard and clearly 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 copyright. The rules concerning intellectual property differ depending on the kind of IP and the jurisdiction. For example, in the Netherlands, the end client is most likely to have copyright rights over works produced by employees under their supervision, while in Poland, contractual project may be required.
Papaya Global Software application has actually emerged as a game-changer in the world of global payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually experienced firsthand the favorable impact of on our organization’s monetary operations.
Unified Global Payroll Processing:
allows our business to process payroll flawlessly across multiple countries. The platform’s unified technique allows for consistent payroll computations, lowering errors and ensuring compliance with regional guidelines. This has significantly reduced the risks connected with international payroll processing.
likewise crucial for if later on someone says misclassification you have your file supported by the requisite documents and that the ideal examination tools to reveal someone that you had a thoughtful procedure and so what do you have to include in that 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 a personal Service Corporation and how are they running what are they doing is it the type of work that provides itself more to being an independent professional than a staff member so for example accounting
I.T crafting the creatives these all lend themselves more to that assessment of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they have to be on website and managed again another crucial factor is the management and guidance of the uh employee and then lastly when is it a particular task is it a six-month job six years all of this is manageable but it needs to be documented and it has to be thoroughly um investigated so we have a tool we call it ic2 we had an ic1 and we have actually improved it this year so that we can roll it out globally these tools take a questionnaire list for the worker the employee submits and fills these questions out therefore does completion client or the recipient of the services they both put their details into the tool and then it does an evaluation waiting the various questions because not every jurisdiction has the very same sensation about some of these questions some think they’re more vital than others and it brings out a red yellow or green red you’re probably a worker yellow you’re on the cusp we can probably help you with that in terms of a few of the things you require to boost to ensure that you are considered that examination of uh independent professional or green where you were assessed as an as a independent contractor once that assessment is done all the requisite files are underneath it so that if later there
Navigating the complexities of international employment laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our company updated with modifications in policies across jurisdictions. This guarantees that our payroll processes follow the current standards, lessening the risk of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal firms who assist us keep our databases entirely as much as date and we also call on we need to when we see an uncommon or or particularly complex scenarios okay thanks Steve I can simply see a fast question in the Q a window yes the session will be tape-recorded and sent out to attendees afterwards um moving back to to the webinar itself Ray company of record is managed in a different way all over the world and the German law for example it’s classed as employee leasing can you shed any light on some of the special considerations for countries and where the eor model isn’t managed yes Ian staff member leasing or labor leasing as it’s also called which prevails in a number of countries especially in Europe enforces stringent regulations on items such as the length of assignment it likewise assigns workers to collective bargaining contracts that provides rights and advantages but even in the countries that don’t have those rigorous guidelines for instance the UK Canada and the nordics there are policies for each nation and each worker is treated the like all the other employees because nation and all those guidelines need to be complied with all right thank you Ray um Kathy moving I would say to yourself what do business need to factor in when determining agreement status to safeguard themselves and the rights of hires what are the advantages and disadvantages of hiring professionals and Freelancers versus irreversible workers so certainly the the benefit of professionals versus employees is the the flexibility for both the employee and for the company um however I can’t worry enough how crucial it is to have a constant thorough and a well-documented compliance
Papaya Global Print Checks and Time Savings:
The software application’s automation capabilities have substantially lowered the time and effort needed for payroll processing. Handbook information entry and recurring jobs have been minimized, enabling our finance team to concentrate on strategic initiatives instead of administrative burdens. This has actually resulted in increased performance and productivity within our monetary 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 right details has to be on the payslip in the best format and in the ideal position if you’re in breach of of policies for payslips the fines are provided per payslip so that’s each staff member each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to fret to consider and we’re only 2 concerns in and 10 minutes or so hiring in one country is hard enough however when employing in a you know on a worldwide level it’s a completely different story you require to make sure that you depend on date with existing as well as pending local labor laws Steve um how do you make certain and ensure that the people 2.0 group is on top of an ever-changing landscape which your clients are fully supported and I’ll organize this into three crucial things we perform in most importantly you need to have the best group so we work with a group of worldwide experts in Work Practices um that ex that team of experts includes legal representatives it consists of payroll specialists it includes HR professionals and these are people that not only know the laws in these in these countries and regions however they likewise understand the languages they know the regional practices they know the cultures and it is necessary to have that right group and genuinely have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers extensive real-time analytics and reporting tools. As a CFO, having access to accurate and prompt monetary data is essential for decision-making. The platform’s reporting capabilities empower me to make informed tactical decisions based on real-time insights into our worldwide payroll data.
The useful application and degree of the application to work law can be examined through the legal system utilizing case law examples. For instance, the acquired rights instruction, likewise referred to as the 2p regulations in the UK, and the working time regulations have actually undergone numerous legal interpretations, especially concerning holiday pay. Additionally, the idea of work status has actually seen numerous legal precedents over the
Scalability for Business Development:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into new markets, the software seamlessly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the evolving needs of our international organization.
Global Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Glimpse who is our senior vice president of client services and I would state separately and collectively these 3 people have Years of experience in in employment law and international Employment Practices so thank you it’s a pleasure to be with everyone 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 erase share head of Global Solutions at papaya International 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 a personal element and related to our subject today I’ve had the opportunity to move and operate in three different nations it is the business’s responsibility to guarantee my protection while living in a foreign nation compliance with local laws and policies is vital for me or anyone else as an expat or as a regional so today we have invited our trusted Partners people 2.0 to show the importance of local
proficiency when business 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’ve been considering we’ll discuss the realities a company needs to think about when opening a brand-new entity and broadening into brand-new countries along with keeping things going we’ll cover aspects such as regional regulations considerations when working with compliance key difficulties payments and what not to do it is among the most important 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 need to understand and handle knowing what to do in each new scenario as it rises is important on numerous levels comprehending local policies and regional laws along with organization practices assists reduce Associated and global growth papaya through our local specialists can navigate prospective threats such as intellectual property protection data personal privacy security concerns making sure the business’s operations remain certified and safe tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has proven to be an important possession in our quest for effective and compliant worldwide payroll management. As the CFO of a global business, I am confident in advising Papaya Global to companies looking for to simplify their payroll procedures, boost compliance, and accomplish greater efficiency in managing their worldwide workforce. The software application’s innovative functions and commitment to excellence align with our tactical goals, making it an integral part of our financial operations.
openly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly announced settlements there’s likewise substantial legal expenses there’s there’s other penalties there’s other costs behind that too so the total expense can be very substantial in the 10s of millions of dollars or more and and those quantities are growing uh the reason why business are getting it so wrong is truly simply the rules are complicated and they’re changing all the time think ir-35 in the UK which has actually been an ongoing advancement for a number of years now and and still a lot of uncertainty among companies on what it truly suggests and how you handle it most companies are simply not aware of the rules and and act as if the the rules are the same everywhere which they’re not so so motivate you to to be very proactive as you’re engaging uh workers from a classification viewpoint okay thank you Stephen and returning to yourself Ray it’s not just the business that suffers in the long run what effects can this have on the worker Papaya Global Print Checks specifically when it concerns their own tax liabilities social security and advantages for example jury and obviously the employees the other side of the coin
I discover time and time again the workers frequently misclassified unknowingly they don’t understand the conditions of work or agreement and are told by the client why it’s most advantageous primarily to the customer why you must be employed or taken part in this fashion the worker 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 far too late years have gone by they have not added to pensions Etc so it’s a huge effect that they never ever understood they were strolling into you couldn’t agree with you more if you say the UK for instance hmrc can go back as much as 10 years um Kathy business are securing insurance versus misclassification however usually premiums are just covering the cost of legal charges whilst the average claim assessed against companies equates to to 40 or half of the base pay of employee exists any point in taking out insurance and what is the alternative yeah to your point um you do need 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 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 fact that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Print Checks …
The comprehensive features of come at a cost,
Over the past few years, the workforce has actually gone through a significant transformation with the introduction of remote work, which has removed geographical restraints on hiring. This has actually made it possible for businesses to recruit talent from all over the world, allowing them to assemble the best possible group for each function. As a result, employees have gained greater versatility to work from home and increase their incomes without needing to transfer to pricey areas or commute cross countries. According to a 2022 study, 87% of staff members who have the choice to work from another location select to do so. The COVID-19 pandemic, integrated with developments in enterprise connection software application, has actually even more sped up the shift towards remote work, even in industries that were initially hesitant to adopt the pattern.
insights are important 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 have actually operated in payroll for the last 25 years I have actually had roles in all type of Industries retail and Beauty to Aerospace in all kinds of businesses start-up to matrixed environments across the globe I offered management and method to populations of more than 100,000 employees on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
International I work throughout business man maning and constructing external relationships supporting Business customers and solutions and serving as a consultant I want to introduce our first Greg um guest Greg who will kick things off by informing us um who he is and a 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 in fact work really closely with our um HR department also to manage numerous legal and HR matters that turn up so really delighted to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our mission is to set you as HR experts complimentary to do terrific
Although Papaya Global supplies integrations with numerous HR and financing systems, we encountered some hurdles during the combination procedure. Personalizing the software application to line up with our existing facilities proved to be more complicated than prepared for, leading to hold-ups in the preliminary rollout.
The comprehensive features offered by Papaya Global come at a cost, which some of our smaller sized subsidiaries found to be prohibitively pricey. As a worldwide company, we needed to thoroughly weigh the need for advanced performance against spending plan restraints.
Support Action Time:
On occasion, our groups experienced concerns that required urgent support. However, the response time from Papaya Global’s customer support team was not constantly as prompt as we would have liked, resulting in hold-ups in solving those concerns.
Our execution of included a phased technique. We started by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This allowed us to determine and deal with combination obstacles early on. As the software ended up being more implanted in our operations, we slowly broadened its use to cover our whole international labor force.
The automated features structured our payroll procedures, minimizing the time invested in manual calculations and compliance tracking. Regular training sessions and continuous support from Papaya assisted our groups become skilled users of the software, maximizing its capacity for our organization.
Nevertheless, paying a workforce can be intricate. It is especially challenging for companies who use personnel across numerous nations, as they should constantly combine different data streams, manually track regional and national labor and policies, and invest important time and resources to set up local entities in brand-new areas. These companies are confronted with suboptimal, expensive options, like opening a foreign subsidiary or working with a professional work company, which is a local firm that works with workers on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty hiring qualified workers, a boost of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
uses an option supporting all kinds of work. It offers an end-to-end platform, from staff member onboarding and continuous management to worldwide payments and. It assists business with labor law compliance in the jurisdictions in which they operate, provides management of work advantages, 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 workforce management. She co-founded after seeing the technology gap in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to attend the total webcast in order to receive 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 be 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 presentation hi and thank you for joining us today we’re enjoyed have you here as we start a journey of data to policy attaining
360 degree worker compliance where we’ll dive into the important elements of the employee compliance management model throughout the session we’ll check out real life challenges genuine local regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to safeguard your company and staff members while staying compliant in an
Ever developing regulatory environment in the everchanging world of organization and financing guaranteeing compliance with payroll guidelines is not just essential but likewise a legal important from the minute of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance threats that have far-reaching consequences however with a deeper more nuanced understanding of their commitments organizations can not just navigate the elaborate landscape however likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools required to navigate the complex Surface of compliance whether you’re a skilled P professional a small business owner or somebody new to the field what I want to do before we begin and I think it’s really important
In our quest to enhance effectiveness and accuracy in handling our international labor force, our international corporation turned to, a leading and workforce management software. The shift intended to simplify the complex task of handling across different countries, currencies, and compliance guidelines.
One of the standout functions of is its robust compliance management system. The software application immediately updates itself to comply with ever-evolving tax and labor laws across multiple jurisdictions. This has actually been important in ensuring that our processes stay compliant in each country of operation.
is to state that the material here is illegal guidance it is merely for your details please consult your legal team must you have any concerns or issues in relation to anything that we’ve talked about today our secret take crucial takeaways by the end of the webinar will be an understanding of worker compliance risks how to employ ly with self-confidence how to simplify data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
act as your hris or is type of your core worker record um to manage that worker life process throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those employees and compensate them and advantages Administration module that allows you to assist manage the advantages you provide to your staff members so truly delighted to be here represent um bamb booy container and discuss this subject um and I guess from my viewpoint I’ll I’ll most likely supply a great deal of a concentrate on the United States side of things when we discuss sort of compliance so pleased to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay worldwide yes absolutely thank you Ian hello everybody I’m Gina dorelis I’m the Employment specialist supervisor.
at I handle the employment Council in the United States APAC EMA and Israel area I also function 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 supply payroll payments and workforce management as a Service work force provider to employees serving in over.
160 countries alright thank you so both I feel entirely 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 truly truly nice to actually see in the webinar chat where everybody’s actually going to from today I can see that we have people in Las Vegas and Indiana already so if you wish to carry on tell where you are that would be definitely fantastic whilst we simply wait for everybody else to kind of like join in there we go Chicago as well well um so whil we’re doing that I’m awaiting everyone to type of join I’ll just run us through the agenda um today we are going to talk about working with Skill new greater Information Management termination compliance and automation wow the chat has got really really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over which is fantastic so uh I’m hoping that we’re actually going to have some really fantastic commentary and concerns throughout the uh the webinar too okay so that’s the agenda 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 information is Papaya Global Print Checks diverse without fail and an.
Ever progressing relationship that begins the moment a person joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous key stages whilst we’re really you understand that they’re used with us so on boarding day-to-day operations compensation and benefits professional advancement then we get to the offboarding and even advocacy so it even occurs after the staff member has left your employment throughout the journey organizations are accountable for collecting saving safeguarding staff member information in compliance with data privacy regulations no matter where it is you’re operating around the globe it often includes carrying out safe and secure information management systems and ensuring rigorous adherence to regional requirements to safeguard both the staff member and the company the advancement of employee information and management c.