A CFO’s Perspective on Papaya Global Problems Today…
Papaya Global’s platform enhances international workforce management for business, ensuring compliance with regional regulations and tax laws. Their services incorporate payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes international payroll operations, providing organizations with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of global organization operations, handling payroll throughout borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a global business, I understand the vital significance of efficient and compliant payroll management. In our pursuit of excellence, we have actually welcomed innovative services to improve our procedures, and one such transformative tool is Software.
The Obstacle of Global Payroll:
International expansion causes diverse obstacles, and payroll management is no exception. Differing tax policies, varying employment laws, and numerous currencies make it vital for companies to adopt advanced options to ensure precision, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Solution:
staff members so it’s actually basic to ensure that you’ve thought about from the start any post-termination restrictions that you wish to take into the agreement of employment that they’re enforceable so that suggests you need to actually think of what it is you’re looking to secure and why plainly Define what’s included within the scope of that secret information and deal with the duration of restriction post-determination that you want to use and be truly able to to validate that in relation to intellectual property the position really depends on the type of intellectual property you’re seeking to secure and likewise the jurisdiction so for instance from a copyright perspective in the Netherlands the end customer is more likely to have the um intellectual property rights in a copyright that the employees produced who’s been under their supervision and control immediately however in someplace like Poland for instance that automated right may not be there which assignment would require to flow through the chain uh contractually so it actually depends upon the jurisdiction and the type of IP fine thank you Elizabeth Steve was staying on the topic of agreements Miss categorized misclassifying employees
Papaya Global Software has actually become 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 interface. As the CFO, I have actually witnessed firsthand the positive effect of on our company’s monetary operations.
Unified International Payroll Processing:
enables our company to process payroll flawlessly across several nations. The platform’s unified approach permits consistent payroll computations, lowering mistakes and guaranteeing compliance with local guidelines. This has actually substantially mitigated the risks associated with global payroll processing.
likewise crucial for if later someone says misclassification you have your file supported by the requisite documents which the right examination tools to show somebody that you had a thoughtful process and so what do you have to include because procedure it’s the who the what the where and the when who are you dealing with are you handling a specific or are you dealing with an individual Service Corporation and how are they operating what are they doing is it the kind of work that provides 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 likewise uh where are they doing it can they work from anywhere or do they have to be on site and handled once again another essential factor is the management and guidance of the uh employee and after that lastly when is it a particular task is it a six-month task six years all of this is workable 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’ve improved it this year so that we can roll it out worldwide these tools take a survey list for the employee the employee completes and fills these questions out and so does the end client or the recipient of the services they both put their details into the tool and after that it does an evaluation waiting the various questions since not every jurisdiction has the exact same sensation 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 probably assist you with that in terms of a few of the things you require to strengthen to make sure that you are considered that evaluation of uh independent specialist or green where you were examined as an as a independent contractor once that evaluation is done all the requisite files are beneath it so that if later on there
Browsing the complexities of international work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our company updated with modifications in policies throughout jurisdictions. This makes sure that our payroll processes adhere to the current standards, minimizing the danger of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal firms who help us keep our databases completely up to date and we likewise get in touch with we need to when we see an uncommon or or especially complicated circumstances all right thanks Steve I can just see a fast concern in the Q a window yes the session will be taped and sent to guests afterwards um returning to to the webinar itself Ray employer of record is controlled differently worldwide and the German law for example it’s classified as staff member leasing can you shed any light on a few of the special factors to consider for nations and where the eor model isn’t managed yes Ian staff member leasing or labor leasing as it’s likewise called which is prevalent in a number of countries especially in Europe enforces rigorous policies on products such as the length of assignment it likewise appoints workers to collective bargaining arrangements that provides rights and advantages however even in the countries that do not have those rigorous policies for instance the UK Canada and the nordics there are regulations for each country and each worker is treated the same as all the other employees because country and all those guidelines need to be followed alright thank you Ray um Kathy moving I would say to yourself what do companies need to factor in when identifying contract status to protect themselves and the rights of hires what are the advantages and disadvantages of employing contractors and Freelancers versus long-term staff members so undoubtedly the the benefit of professionals versus staff members 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 consistent comprehensive and a well-documented compliance
Papaya Global Problems Today and Time Cost Savings:
The software’s automation capabilities have actually significantly minimized the time and effort needed for payroll processing. Manual data entry and repetitive jobs have been reduced, enabling our financing group to focus on strategic initiatives rather than administrative concerns. This has actually led to increased efficiency and performance within our monetary operations.
in one because each state has its own guidelines Californians are a few of the most stringent an example is pay slips on a payslip in California the right information needs to be on the payslip in the right format and in the best position if you remain in breach of of regulations for payslips the fines are released per payslip so that’s each worker each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think of and we’re just 2 concerns in and 10 minutes approximately employing in one nation is difficult enough but when employing in a you know on a global level it’s a completely various story you require to make sure that you’re up to date with present as well as pending regional labor laws Steve um how do you make certain and make sure that the people 2.0 team is on top of an ever-changing landscape which your clients are completely supported and I’ll organize this into three crucial things we do in most importantly you need to have the ideal group so we hire a group of worldwide professionals in Employment Practices um that ex that group of professionals includes lawyers it consists of payroll professionals it consists of HR specialists and these are people that not just know the laws in these in these countries and areas but they likewise know the languages they understand the local practices they understand the cultures and it is essential to have that best team and genuinely have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies comprehensive real-time analytics and reporting tools. As a CFO, having access to accurate and timely monetary data is vital for decision-making. The platform’s reporting capabilities empower me to make educated strategic choices based on real-time insights into our international 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 example, the acquired rights regulation, likewise known as the 2p policies in the UK, and the working time regulations have actually undergone different legal analyses, particularly regarding holiday pay. Furthermore, the concept of employment status has actually seen multiple legal precedents over the
Scalability for Service Growth:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software effortlessly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adjust to the developing requirements of our global organization.
Global Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Gander 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 everybody here today sounds like we’ve got the right people with us today and in in addition to to those well we likewise have one of our own Stars delete share head of Global Solutions at papaya Worldwide inform us about yourself thank you Elin Ian hi my name is Elite I have actually been with the business for around 4 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’ve had the opportunity to relocate and work in three different countries it is the business’s responsibility to guarantee my protection while residing in a foreign country compliance with regional laws and guidelines is essential for me or anybody else as an expat or as a regional so today we have actually welcomed our trusted Partners people 2.0 to demonstrate the significance of local
competence when companies Go Worldwide thank you and enjoy all right thank you as I said let’s proceed to the pact agenda today’s webinar is a chance to ask the panel the questions you’ve been thinking of we’ll talk about the facts a business requires to think about when opening a brand-new entity and broadening into brand-new countries as well as keeping things going we’ll cover elements such as local regulations considerations when working with compliance essential challenges payments and what not to do it’s one of the most crucial things remembering what not to do um operating on a global level is not for the faint-hearted the bigger a company grows the more they require to comprehend and manage understanding what to do in each brand-new scenario as it increases is essential on numerous levels comprehending local policies and regional laws as well as company practices helps mitigate Associated and global growth papaya through our regional experts can navigate possible threats such as intellectual property defense data privacy security concerns guaranteeing the business’s operations stay certified and safe tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has actually proven to be an important property in our quest for efficient and compliant global payroll management. As the CFO of an international company, I am positive in advising Papaya Global to organizations seeking to simplify their payroll processes, enhance compliance, and attain greater effectiveness in handling their global workforce. The software application’s innovative functions and commitment to excellence line up with our strategic objectives, making it an important part of our financial operations.
I discover time and time again the workers often misclassified unknowingly they do not understand the conditions of work or contract and are informed by the client why it’s optimum mainly to the customer why you must be utilized or engaged in this fashion the employee may owe taxes and Social Security to the authorities the future pension and healthcare advantages of the employee can be affected and numerous times it can be years before this all falls out and by that time it’s too late years have actually gone by they haven’t added to pensions Etc so it’s a huge effect that they never understood they were walking into you couldn’t agree with you more if you say the UK for instance hmrc can go back as much as ten years um Kathy companies are getting insurance coverage versus misclassification but normally premiums are just covering the expense of legal charges whilst the typical claim assessed against companies corresponds to to 40 or half of the base pay of worker is there any point in getting insurance coverage and what is the alternative yeah to your point um you do require to check out the fine print it is not covering the taxes charge and interest for the most part I haven’t seen it at least so uh the the other area that I do believe 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 Factors to consider and Papaya Global Problems Today …
The comprehensive functions of come at a cost,
Current years have actually seen a remarkable modification to the workforce as the rise 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 very best offered skill for any provided role. This provides employees more flexibility to work from home and increase their income without relocating to expensive locations or commuting fars away. A 2022 study found that 87% of workers who have the chance to work from another location take that chance. The outbreak of COVID-19, in conjunction with new business connectivity software application, sped up the move to remote work, including in industries formerly reluctant to embrace the pattern.
insights are important to us and and your fellow participants so first things initially though um let’s be familiar with everybody my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had roles in all kind of Industries retail and Beauty to Aerospace in all types of services start-up to matrixed environments around the world I supplied leadership and strategy to populations of more than 100,000 employees on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
International I work across the business male maning and developing external relationships supporting Business customers and options and acting as an advisor I ‘d like to present 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 business counsil at bambo HR so I lead our in-house legal group and in fact work really carefully with our um HR department as well to deal with different legal and HR matters that show up so actually thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our objective is to set you as HR specialists totally free to do terrific
Although Papaya Global provides integrations with different HR and financing systems, we encountered some difficulties during the combination procedure. Customizing the software application to align with our existing facilities showed to be more intricate than expected, leading to hold-ups in the preliminary rollout.
The comprehensive features used by Papaya Global come at a cost, which some of our smaller sized subsidiaries discovered to be prohibitively pricey. As an international organization, we had to carefully weigh the need for innovative functionality versus spending plan constraints.
Assistance Reaction Time:
On occasion, our groups experienced issues that needed urgent support. However, the reaction time from Papaya Global’s customer support group was not always as prompt as we would have liked, leading to hold-ups in dealing with those issues.
Our application of included a phased technique. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing processes. This allowed us to determine and attend to integration difficulties early on. As the software became more ingrained in our operations, we slowly expanded its usage to cover our entire international workforce.
The automated functions 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 proficient users of the software application, maximizing its potential for our company.
Nevertheless, paying a workforce can be complex. It is especially challenging for companies who use staff across multiple countries, as they should continuously consolidate different information streams, manually track local and national labor and policies, and spend valuable time and resources to set up regional entities in new locations. These business are faced with suboptimal, pricey alternatives, like opening a foreign subsidiary or hiring a professional work organization, which is a regional firm that employs workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble recruiting certified personnel, an increase 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.
provides an option supporting all types of work. 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 work benefits, and guarantees information personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading specialist in payroll and labor force management. She co-founded after seeing the innovation space in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to participate in the total webcast in order to get 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 new tab will open in your internet browser with the webcast study please make certain to finish it as soon as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hi and thank you for joining us today we’re thrilled to have you here as we start a journey of information to policy achieving
360 degree employee compliance where we’ll dive into the vital elements of the employee compliance management design throughout the session we’ll check out real life obstacles genuine local guidelines best practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to protect your organization and employees while staying certified in an
Ever progressing regulative environment in the everchanging world of company and financing making sure compliance with payroll guidelines is not only vital however likewise a legal important from the minute of employing to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance threats that have significant effects however with a deeper more nuanced understanding of their responsibilities companies can not only browse the intricate landscape however likewise proactively guarantee this 360 degree compliance the webinar is created to equip you with the knowledge and tools needed to browse the complex Surface of compliance whether you’re an experienced P expert a small company owner or someone new to the field what I want to do before we begin and I believe it’s really crucial
In our mission to boost effectiveness and accuracy in handling our worldwide labor force, our international corporation turned to, a leading and labor force management software. The shift aimed to simplify the complex task of managing across numerous countries, currencies, and compliance guidelines.
Among the standout functions of is its robust compliance management system. The software application instantly updates itself to adhere to ever-evolving tax and labor laws across multiple jurisdictions. This has actually been important in ensuring that our processes stay compliant in each nation of operation.
is to state that the material here is not legal recommendations it is simply for your info please consult your legal team should you have any questions or concerns in relation to anything that we’ve gone over today our key take essential takeaways by the end of the webinar will be an understanding of worker compliance threats how to work with ly with self-confidence how to streamline data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
function as your hris or is kind of your core staff member 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 staff members and compensate them and advantages Administration module that permits you to assist handle the advantages 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 point of view I’ll I’ll most likely supply a great deal of a focus on the United States side of things when we talk about kind of compliance so pleased to be here thanks for having me Ian okay 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 hi everybody I’m Gina dorelis I’m the Work professional 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 and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service labor force provider to workers 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 kind of like going through the introduction so it’s actually really good to really see in the webinar chat where everybody’s really participating in from today I can see that we have individuals in Las Vegas and Indiana currently so if you wish to continue tell where you are that would be definitely fantastic whilst we simply wait for everyone else to type of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting on everybody to kind of join I’ll just run us through the program um today we are going to go over working with Talent brand-new greater Details Management termination compliance and automation wow the chat has actually got really truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is fantastic so uh I’m hoping that we’re really going to have some truly fantastic commentary and questions throughout the uh the webinar as well all right so that’s the program then what I want to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their information is Papaya Global Problems Today diverse without fail and an.
Ever developing relationship that begins the moment an individual signs up with an organization it continues throughout their work and Beyond this journey can be divided into k to several crucial phases whilst we’re actually you know that they’re utilized with us so on boarding daily operations payment and benefits professional development then we get to the offboarding and even advocacy so it even takes place after the worker has left your employment throughout the journey organizations are responsible for gathering keeping protecting staff member information in compliance with data privacy policies no matter where it is you’re running around the globe it typically involves implementing secure information management systems and ensuring rigorous adherence to local requirements to safeguard both the employee and the organization the development of worker information and management c.