A CFO’s Point of view on Papaya Global Revise Payroll…
Papaya Global’s platform streamlines international labor force management for companies, making sure compliance with local policies and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and attendance tracking, and HR assistance. The platform centralizes international payroll operations, providing businesses with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of global company operations, handling payroll across borders can be a complex and tough job. As the Chief Financial Officer (CFO) of a global company, I comprehend the important importance of effective and compliant payroll management. In our pursuit of excellence, we have welcomed ingenious services to streamline our procedures, and one such transformative tool is Software.
The Challenge of International Payroll:
Global expansion brings about varied challenges, and payroll management is no exception. Differing tax regulations, differing employment laws, and multiple currencies make it imperative for companies to adopt sophisticated solutions to make sure precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Solution:
employees so it’s really essential to ensure that you’ve thought about from the beginning any post-termination restrictions that you want to take into the agreement of employment that they’re enforceable so that suggests you need to actually consider what it is you’re looking to protect and why plainly Specify what’s included within the scope of that secret information and deal with the duration of constraint post-determination that you wish to apply and be really able to to justify that in relation to intellectual property the position really depends upon the type of copyright you’re looking to secure and likewise the jurisdiction so for example from a copyright point of view in the Netherlands completion client is most likely to have the um intellectual property rights in a copyright that the employees produced who’s been under their guidance and control automatically however in somewhere 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 actually depends on the jurisdiction and the type of IP alright thank you Elizabeth Steve was remaining on the subject of contracts Miss classified misclassifying workers
Papaya Global Software has become a game-changer in the world of worldwide payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, user-friendly user interface. As the CFO, I have actually experienced firsthand the positive impact of on our organization’s financial operations.
Unified International Payroll Processing:
allows our company to procedure payroll effortlessly across several nations. The platform’s unified approach permits constant payroll calculations, decreasing mistakes and making sure compliance with local regulations. This has significantly reduced the risks connected with worldwide payroll processing.
likewise essential for if later on someone says misclassification you have your file supported by the requisite files which the right evaluation tools to show someone that you had a thoughtful procedure and so what do you have to consist of in that procedure it’s the who the what the where and the when who are you handling are you handling an individual or are you handling an individual Service Corporation and how are they running what are they doing is it the kind of work that lends itself more to being an independent contractor than a worker so for instance accounting
I.T engineering the creatives these all lend themselves more to that evaluation 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 handled once again another crucial element is the management and guidance of the uh worker and then finally when is it a specific project is it a six-month task six years all of this is workable however it has to be documented and it has to be thoroughly um examined 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 globally these tools take a questionnaire list for the employee the worker submits and fills these questions out therefore does the end client or the recipient of the services they both put their details into the tool and after that it does an assessment waiting the various concerns because not every jurisdiction has the exact same sensation about some of these questions some think they’re more important than others and it brings out a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can most likely help you with that in terms of some of the important things you require to bolster to make certain that you are given that evaluation of uh independent contractor or green where you were evaluated as an as a independent specialist once that assessment is done all the requisite files are beneath it so that if later there
Navigating the complexities of worldwide work laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in guidelines across jurisdictions. This guarantees that our payroll processes adhere to the latest requirements, reducing the risk of non-compliance and associated penalties.
network of In-House outside advisors accounting companies and legal companies who assist us keep our databases completely as much as date and we also call on we need to when we see an unusual or or especially intricate situations all right thanks Steve I can simply see a fast concern in the Q a window yes the session will be recorded and sent to participants later on um moving back to to the webinar itself Ray employer of record is regulated in a different way around the world and the German law for instance it’s classified as employee leasing can you shed any light on a few of the unique considerations for nations and where the eor model isn’t controlled yes Ian employee leasing or labor leasing as it’s also called which prevails in several countries especially in Europe enforces stringent policies on products such as the length of assignment it also assigns employees to collective bargaining agreements that gives them rights and benefits however even in the countries that do not have those stringent regulations for example the UK Canada and the nordics there are policies for each nation and each worker is dealt with the same as all the other workers because country and all those policies need to be followed all right thank you Ray um Kathy moving I would state to yourself what do business need to consider when determining agreement status to protect themselves and the rights of hires what are the benefits and drawbacks of employing contractors and Freelancers versus irreversible staff members so clearly the the benefit of professionals versus employees is the the flexibility for both the employee and for the company um however I can’t stress enough how essential it is to have a constant comprehensive and a well-documented compliance
Papaya Global Revise Payroll and Time Cost Savings:
The software’s automation capabilities have significantly decreased the time and effort required for payroll processing. Manual data entry and repeated tasks have actually been lessened, allowing our financing group to focus on tactical initiatives instead of administrative concerns. This has actually resulted in increased efficiency and productivity within our monetary operations.
in one since each state has its own guidelines Californians are some of the most strict an example is pay slips on a payslip in California the ideal information has to be on the payslip in the ideal format and in the ideal position if you’re 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 worry to think about and we’re only two concerns in and 10 minutes or two working with in one country is tough enough however when hiring in a you know on an international level it’s an entirely various story you require to ensure 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 totally supported and I’ll arrange this into 3 key things we perform in most importantly you require to have the best group so we hire a team of international specialists in Employment Practices um that ex that team of professionals consists of lawyers it includes payroll experts it consists of HR professionals and these are people that not only know the laws in these in these nations and regions but they also understand the languages they understand the local practices they know the cultures and it’s important to have that best team and genuinely have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies extensive real-time analytics and reporting tools. As a CFO, having access to accurate and timely financial data is important for decision-making. The platform’s reporting abilities empower me to make educated strategic decisions based upon 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 obtained rights regulation otherwise referred to as the 2p regulations in the UK the working time regulations which has had different hairs of that legislation checked especially around vacation pay and naturally as Kathy’s going to come on to discuss later on employment status which there’s been numerous precedence set over the years so I think it’s really that consistent advancement of the employment law landscape that you really need to browse when when working in Europe fine thank you Elizabeth Ray what about you from your personal experience while moving across the pond as pointed out each country has various regulations however the United States is basically 50 countries
Scalability for Business Growth:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software effortlessly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll facilities can adjust to the progressing needs of our global organization.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Look who is our senior vice president of customer service and I would say individually 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 everybody 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 erase share head of Global Services at papaya Worldwide inform us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the company for around 4 and a half years as head of Collaborations I have actually developed Papaya’s network of in-country Partners in over 160 areas on an individual aspect and related to our subject today I have actually had the opportunity to relocate and operate in 3 different countries it is the business’s responsibility to guarantee my protection while living in a foreign country compliance with regional laws and regulations is essential for me or anyone else as an expat or as a regional so today we have actually invited our trusted Partners individuals 2.0 to show the importance of regional
knowledge when business Go International thank you and take pleasure in all right thank you as I stated let’s carry on to the pact program today’s webinar is a chance to ask the panel the concerns you have actually been thinking of we’ll go over the facts a business requires to think about when opening a new entity and broadening into new nations in addition to keeping things going we’ll cover aspects such as local policies factors to consider when employing 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 worldwide level is not for the faint-hearted the bigger a business grows the more they need to understand and manage understanding what to do in each brand-new scenario as it rises is important on numerous levels understanding local guidelines and regional laws in addition to business practices assists reduce Associated and global expansion papaya through our regional experts can navigate possible risks such as intellectual property security data privacy security problems making sure the company’s operations stay compliant and protected tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has shown to be a vital possession in our quest for efficient and compliant global payroll management. As the CFO of a global company, I am confident in advising Papaya Global to companies looking for to streamline their payroll processes, improve compliance, and achieve higher effectiveness in handling their international labor force. The software application’s ingenious features and commitment to excellence line up with our strategic goals, making it an important part of our financial operations.
publicly announced 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 charges there’s other expenses behind that also so the total cost can be very significant in the 10s of millions of dollars or more and and those quantities are growing uh the reason business are getting it so incorrect is actually simply the rules are complicated and they’re changing all the time think ir-35 in the UK which has actually been a continuous development for numerous years now and and still a great deal of unpredictability amongst companies on what it really implies and how you handle it most employers are simply not knowledgeable about 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 extremely proactive as you’re engaging uh workers from a classification viewpoint fine thank you Stephen and moving back to yourself Ray it’s not just the company that suffers in the long run what results can this have on the worker Papaya Global Revise Payroll specifically when it pertains to their own tax liabilities social security and benefits for example jury and certainly the workers the other side of the coin
I find time and time again the employees often misclassified unwittingly they do not comprehend the conditions of work or agreement and are told by the client why it’s optimum mainly to the client why you need to be employed or taken part in this style the worker may owe taxes and Social Security to the authorities the future pension and health care benefits 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 passed they haven’t added to pensions Etc so it’s a huge impact that they never ever knew they were strolling into you could not agree with you more if you say the UK for instance hmrc can go back as much as 10 years um Kathy business are getting insurance against misclassification but normally premiums are only covering the cost of legal fees whilst the average claim evaluated versus companies relates to to 40 or 50 percent of the base salary of employee is there any point in getting insurance and what is the alternative yeah to your point um you do need to check out the small print it is not covering the taxes charge and interest in most cases 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 rejected protection on the basis of the fact that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Revise Payroll …
The detailed features of come at an expense,
Recent decades have actually seen a significant modification to the workforce as the rise of remote work has broken down geographical barriers to hiring. Services can now work with personnel from anywhere worldwide, allowing them to access the best readily available skill for any provided function. This gives workers more flexibility to work from home and increase their income without relocating to expensive areas or commuting long distances. A 2022 study found that 87% of staff members who have the chance to work from another location take that chance. The break out of COVID-19, in conjunction with brand-new business connectivity software, sped up the relocate to remote work, including in industries previously reluctant to embrace the pattern.
insights are important to us and and your fellow attendees so first things first though um let’s be familiar with everybody my name is Ian Charles and I’ve worked in payroll for the last 25 years I’ve had roles in all sort of Industries retail and Beauty to Aerospace in all types of companies startup to matrixed environments around the world I supplied leadership and strategy to populations of more than 100,000 employees on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
International I work throughout the business male maning and constructing external relationships supporting Business clients and solutions and acting as a consultant I want to introduce 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 said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal team and really work very closely with our um HR department too to manage numerous legal and HR matters that turn up so truly delighted to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our mission is to set you as HR experts complimentary to do great
While Papaya Global deals combinations with different HR and finance systems, the implementation process was not without difficulties. Integrating the software application with our existing facilities required extra personalization, causing some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Revise Payroll 2024
and some smaller sized subsidiaries within our organization discovered the pricing to be on the greater side. As an international business, stabilizing the need for advanced functions with budget plan constraints ended up being a delicate workout.
Customer Assistance Reaction Time:
There were circumstances where our groups dealt with issues that needed prompt help. Nevertheless, the reaction time from’s customer support team was not constantly as quick as desired, resulting in periodic hold-ups in issue resolution.
Our implementation of included a phased technique. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This permitted us to identify and deal with integration difficulties early on. As the software became more ingrained in our operations, we slowly expanded its usage to cover our entire global labor force.
The automated features streamlined our payroll procedures, decreasing the time invested in manual computations and compliance tracking. Regular training sessions and ongoing assistance from Papaya assisted our teams end up being competent users of the software application, maximizing its potential for our organization.
Business that staff member workers throughout several countries frequently deal with complex obstacles when it concerns managing their workforce. One of the greatest difficulties is consolidating various information streams and adhering to diverse regional and national labor regulations, which can be both lengthy and pricey. Additionally, setting up regional entities in new areas can be an expensive and suboptimal option, with alternatives such as opening a foreign subsidiary or working with an expert work company (PEO) frequently charging up to 15% of the payroll. These challenges have caused a substantial increase in trouble recruiting qualified personnel, with 75% of employers reporting this issue in 2022, a 21% increase from 2019. The payroll and HR options market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
provides an option supporting all kinds of work. It offers an end-to-end platform, from employee onboarding and ongoing management to global payments and. It assists business with labor law compliance in the jurisdictions in which they operate, uses management of work advantages, and makes sure data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading expert 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 certain to participate in the complete 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 web 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 presentation hi and thank you for joining us today we’re thrilled to have you here as we start a journey of information to guideline attaining
360 degree employee compliance where we’ll dive into the necessary aspects of the employee compliance management design throughout the session we’ll check out real world obstacles real local regulations finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your company and employees while staying certified in an
Ever progressing regulatory environment in the everchanging world of service and finance ensuring compliance with payroll regulations is not only essential however likewise a legal important from the moment of working with 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 nevertheless with a deeper more nuanced understanding of their commitments companies can not just navigate the detailed landscape however also proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools essential to browse the complex Terrain of compliance whether you’re a skilled P specialist a small business owner or somebody brand-new to the field what I would like to do before we start and I believe it’s truly important
In our quest to boost performance and accuracy in managing our global workforce, our multinational corporation turned to, a leading and labor force management software application. The shift intended to simplify the complex job of handling across various nations, currencies, and compliance policies.
One of the standout functions of is its robust compliance management system. The software immediately updates itself to follow ever-evolving tax and labor laws throughout numerous jurisdictions. This has actually been indispensable in guaranteeing that our processes stay compliant in each nation of operation.
is to state that the material here is not legal suggestions it is merely for your details please consult your legal group must you have any concerns or concerns in relation to anything that we’ve talked about today our key 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 information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.
serve as your hris or is kind of your core worker record um to manage that employee life process throughout their Journey with you as as a worker in addition to a payroll module we need to help you pay those staff members and compensate them and advantages Administration module that enables you to help handle the benefits you offer to your employees so actually excited to be here represent um bamb booy container and speak about this subject um and I think from my point of view I’ll I’ll probably offer a great deal of a concentrate on the US side of things when we talk about kind of compliance so happy 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 global yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Employment specialist supervisor.
at I manage the work Council in the United States APAC EMA and Israel area I also work as us Council for I’m accredited in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service labor force supplier to employees serving in over.
160 nations all right 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 in fact see in the webinar chat where everybody’s actually 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 on everybody else to type of like take part there we go Chicago too well um so whil we’re doing that I’m waiting for everyone to sort of join I’ll simply run us through the program um today we are going to talk about employing Skill brand-new greater Info Management termination compliance and automation wow the chat has actually got truly truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over which is wonderful so uh I’m hoping that we’re really going to have some actually fantastic commentary and questions throughout the uh the webinar also alright so that’s the program then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their data is Papaya Global Revise Payroll diverse without fail and an.
Ever evolving relationship that begins the minute a person signs up with a company it continues throughout their work and Beyond this journey can be divided into k to a number of key stages whilst we’re actually you know that they’re used with us so on boarding day-to-day operations settlement and benefits professional advancement then we get to the offboarding and even advocacy so it even happens after the staff member has left your work throughout the journey companies are responsible for gathering storing securing worker data in compliance with data personal privacy regulations no matter where it is you’re running around the globe it frequently includes carrying out safe information management systems and ensuring stringent adherence to local requirements to protect both the staff member and the organization the evolution of staff member information and management c.