A CFO’s Perspective on Papaya Global Saint Helena…
Papaya Global’s platform simplifies global workforce management for business, making sure compliance with local regulations and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes worldwide payroll operations, supplying services with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of global business operations, managing payroll throughout borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of an international business, I understand the crucial importance of effective and certified payroll management. In our pursuit of quality, we have accepted ingenious solutions to simplify our procedures, and one such transformative tool is Software.
The Difficulty of Worldwide Payroll:
International growth brings about diverse obstacles, and payroll management is no exception. Differing tax guidelines, varying work laws, and numerous currencies make it important for organizations to adopt sophisticated options to make sure accuracy, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Option:
It is essential to consider and consist of post-termination restrictions in the employment agreement to guarantee enforceability. You should thoroughly determine what you are seeking to safeguard and clearly define the confidential information that falls within its scope. Furthermore, define the period of the post-termination restriction and be prepared to justify it in relation to intellectual property. The rules concerning intellectual property vary depending upon the type of IP and the jurisdiction. For example, in the Netherlands, completion customer is most likely to have copyright rights over works produced by workers under their supervision, while in Poland, legal project may be necessary.
Papaya Global Software application has actually emerged as a game-changer in the world of worldwide payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, easy to use user interface. As the CFO, I have experienced firsthand the positive impact of on our company’s financial operations.
Unified Worldwide Payroll Processing:
allows our business to procedure payroll flawlessly across several nations. The platform’s unified approach permits constant payroll estimations, reducing errors and guaranteeing compliance with regional guidelines. This has actually considerably alleviated the dangers connected with worldwide payroll processing.
likewise key for if in the future someone states misclassification you have your file supported by the requisite documents which the right examination tools to show someone that you had a thoughtful procedure therefore what do you need to include in that procedure it’s the who the what the where and the when who are you handling are you handling a specific or are you dealing with a personal Service Corporation and how are they operating what are they doing is it the type of work that lends itself more to being an independent contractor than an employee so for instance accounting
I.T crafting the creatives these all provide themselves more to that assessment of being freelancer you know also uh where are they doing it can they work from anywhere or do they need to be on site and managed once again another crucial factor is the management and supervision of the uh worker and then lastly when is it a specific job is it a six-month project six years all of this is manageable but 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 have actually improved it this year so that we can roll it out worldwide these tools take a survey list for the worker the worker submits and fills these concerns out therefore does the end client or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the various questions because not every jurisdiction has the very same feeling about some of these questions some think they’re more crucial than others and it comes out with a red yellow or green red you’re probably a staff member yellow you’re on the cusp we can probably assist you with that in regards to a few of the things you need to strengthen to make sure that you are considered that examination of uh independent specialist or green where you were assessed as an as a independent contractor once that evaluation is done all the requisite files are underneath it so that if later there
Browsing the intricacies of worldwide employment laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in policies across jurisdictions. This makes sure that our payroll procedures abide by the current requirements, decreasing the danger of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal firms who help us keep our databases totally as much as date and we also call on we need to when we see an uncommon or or particularly intricate situations fine thanks Steve I can just see a quick question in the Q a window yes the session will be recorded and sent out to guests afterwards um moving back to to the webinar itself Ray employer of record is managed in a different way around the globe and the German law for example it’s classified as employee leasing can you shed any light on a few of the special factors to consider for nations and where the eor model isn’t regulated yes Ian worker leasing or labor leasing as it’s also called which is prevalent in a number of countries especially in Europe enforces rigorous regulations on products such as the length of task it also appoints workers to collective bargaining agreements that provides rights and benefits but even in the nations that do not have those stringent regulations for instance the UK Canada and the nordics there are guidelines for each country and each worker is treated the like all the other employees in that nation and all those policies require to be complied with alright thank you Ray um Kathy moving I would say to yourself what do companies require to factor in when figuring out agreement status to safeguard themselves and the rights of hires what are the pros and cons of hiring contractors and Freelancers versus long-term employees so undoubtedly the the advantage of professionals versus employees is the the versatility for both the worker and for the company um however I can’t worry enough how important it is to have a constant thorough and a well-documented compliance
Papaya Global Saint Helena and Time Cost Savings:
The software’s automation abilities have significantly minimized the time and effort required for payroll processing. Handbook data entry and recurring tasks have been lessened, permitting our financing team to focus on tactical efforts rather than administrative concerns. This has resulted in increased effectiveness and productivity within our financial operations.
in one given that each state has its own regulations Californians are some of the most stringent an example is pay slips on a payslip in California the best details has to be on the payslip in the best format and in the best position if you remain in breach of of policies for payslips the fines are released per payslip so that’s each worker each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to fret to think about and we’re only two concerns in and 10 minutes approximately hiring in one nation is hard enough but when working with in a you understand on an international level it’s a completely different 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 make sure that the people 2.0 group is on top of an ever-changing landscape and that your clients are fully supported and I’ll arrange this into three essential things we do in firstly you need to have the best team so we hire a group of international specialists in Work Practices um that ex that group of specialists consists of lawyers it includes payroll professionals it includes HR specialists and these are individuals that not only understand the laws in these in these countries and regions however they likewise know the languages they know the regional practices they understand the cultures and it’s important to have that ideal team and really have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt monetary data is crucial for decision-making. The platform’s reporting capabilities empower me to make educated tactical choices based upon real-time insights into our global payroll data.
The useful application and degree of the application to employment law can be evaluated through the legal system utilizing case law examples. For instance, the gotten rights directive, also referred to as the 2p regulations in the UK, and the working time guidelines have gone through various legal analyses, especially concerning holiday pay. In addition, the idea of work status has seen multiple legal precedents over the
Scalability for Company Growth:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software seamlessly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adjust to the progressing needs of our global company.
Global Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Gander who is our senior vice president of customer service and I would say separately and jointly these three individuals have Decades of experience in in employment law and worldwide Employment Practices so thank you it’s an enjoyment to be with everyone here today sounds like we’ve got the right people with us today and in in addition to to those well we also have one of our own Stars erase share head of Global Solutions at papaya International inform us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the company for around four 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’ve had the chance to relocate and work in three different countries it is the company’s duty to guarantee my defense while living in a foreign nation compliance with local laws and guidelines is essential for me or anyone else as an expat or as a local so today we have actually welcomed our trusted Partners people 2.0 to demonstrate the significance of local
knowledge when business Go Global thank you and delight in okay thank you as I stated let’s move on to the pact program today’s webinar is a chance to ask the panel the questions you’ve been thinking of we’ll discuss the realities a company needs to consider when opening a brand-new entity and expanding into brand-new countries in addition to keeping things going we’ll cover elements such as local policies factors to consider when working with compliance essential difficulties payments and what not to do it is among the most crucial 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 require to understand and manage understanding what to do in each new situation as it increases is important on lots of levels comprehending regional regulations and regional laws along with service practices assists mitigate Associated and international expansion papaya through our regional professionals can navigate potential threats such as intellectual property protection data privacy security issues guaranteeing the company’s operations stay certified and protected tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has actually proven to be a vital property in our mission for efficient and compliant worldwide payroll management. As the CFO of a global business, I am positive in suggesting Papaya Global to organizations looking for to improve their payroll procedures, boost compliance, and accomplish greater performance in handling their global workforce. The software application’s ingenious functions and commitment to excellence line up with our tactical objectives, making it an integral part of our financial operations.
I find time and time again the workers frequently misclassified unwittingly they don’t understand the conditions of work or agreement and are informed by the customer why it’s most advantageous generally to the customer why you should be utilized or engaged in this fashion the employee might owe taxes and Social Security to the authorities the future pension and health care benefits of the worker can be affected and numerous times it can be years before this all falls out and by that time it’s far too late years have actually gone by they haven’t added to pensions Etc so it’s a huge effect that they never ever knew they were strolling into you couldn’t agree with you more if you state the UK for instance hmrc can return as much as ten years um Kathy business are securing insurance coverage versus misclassification but typically premiums are just covering the cost of legal costs whilst the typical claim assessed against companies equates to to 40 or half of the base pay of employee is there any point in securing insurance and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes penalty and interest in many cases 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 stating is is that if your compliance program is not up to stuff you could be rejected coverage 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 Saint Helena …
The detailed features of come at an expense,
Current decades have seen a remarkable change 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, enabling them to access the very best readily available talent for any provided role. This gives employees more liberty to work from home and increase their earnings without moving to pricey areas or travelling fars away. A 2022 study found that 87% of employees who have the opportunity to work remotely take that opportunity. The outbreak of COVID-19, in conjunction with new business connectivity software, accelerated the relocate to remote work, including in industries previously hesitant to embrace the pattern.
insights are valuable to us and and your fellow guests so first things initially though um let’s learn more about everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had roles in all sort of Industries retail and Appeal to Aerospace in all kinds of services startup to matrixed environments across the globe I offered leadership and method to populations of more than 100,000 workers on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
Worldwide I work across business man maning and constructing external relationships supporting Enterprise clients and options and serving 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 said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal team and really work very closely with our um HR department too to deal with different legal and HR matters that come up so truly thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our mission is to set you as HR professionals complimentary to do excellent
Although Papaya Global provides integrations with different HR and financing systems, we encountered some difficulties throughout the combination process. Customizing the software application to align with our existing facilities showed to be more complex than prepared for, leading to hold-ups in the preliminary rollout.
The extensive functions provided by Papaya Global come at an expense, which some of our smaller subsidiaries found to be prohibitively costly. As an international organization, we needed to thoroughly weigh the need for sophisticated functionality versus budget constraints.
Assistance Response Time:
On occasion, our groups experienced problems that required immediate assistance. However, the action time from Papaya Global’s client assistance team was not always as timely as we would have liked, causing delays in fixing those concerns.
Our application of included a phased method. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This enabled us to identify and resolve combination difficulties early on. As the software application ended up being more instilled in our operations, we gradually broadened its usage to cover our entire international labor force.
The automated features structured our payroll procedures, minimizing the time spent on manual calculations and compliance tracking. Routine training sessions and continuous support from Papaya assisted our teams become proficient users of the software application, optimizing its potential for our company.
Business that worker workers across several countries typically face elaborate obstacles when it comes to handling their labor force. One of the most significant hurdles is consolidating numerous information streams and adhering to varied regional and nationwide labor policies, which can be both time-consuming and pricey. Furthermore, establishing regional entities in brand-new regions can be an expensive and suboptimal option, with options such as opening a foreign subsidiary or hiring an expert work company (PEO) typically charging up to 15% of the payroll. These challenges have actually caused a substantial increase in problem recruiting certified workers, with 75% of companies reporting this concern in 2022, a 21% increase from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
offers a solution supporting all types of employment. It supplies an end-to-end platform, from worker onboarding and ongoing management to global payments and. It helps business with labor law compliance in the jurisdictions in which they run, offers management of work advantages, and makes sure data 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 be sure to attend the complete webcast in order to get your credits if you have any questions during the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your internet browser with the webcast study please make sure to finish it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hi and thank you for joining us today we’re enjoyed have you here as we start a journey of data to policy achieving
360 degree employee compliance where we’ll dive into the important aspects of the employee compliance management design throughout the session we’ll explore real world difficulties real regional policies finest practices and the role 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 developing regulatory environment in the everchanging world of service and finance making sure compliance with payroll guidelines is not only crucial however likewise a legal necessary from the minute of hiring to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance threats that have significant consequences nevertheless with a deeper more nuanced understanding of their commitments organizations can not just browse the complex landscape but also proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools necessary to navigate the complex Terrain of compliance whether you’re an experienced P specialist a small company owner or someone new to the field what I wish to do before we begin and I think it’s really crucial
In our mission to improve efficiency and accuracy in handling our global workforce, our international corporation turned to, a leading and workforce management software application. The shift aimed to simplify the complex job of handling throughout various countries, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software application instantly updates itself to abide by ever-evolving tax and labor laws across numerous jurisdictions. This has been invaluable in guaranteeing that our procedures stay certified in each nation of operation.
is to state that the material here is illegal recommendations it is just for your information please consult your legal team needs to you have any questions 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 staff member compliance risks how to work with ly with self-confidence how to streamline information management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we’ve.
function as your hris or is sort of your core employee record um to handle that worker life cycle throughout their Journey with you as as a staff member in addition to a payroll module we have to assist you pay those staff members and compensate them and benefits Administration module that enables you to assist handle the advantages you supply to your workers so actually thrilled to be here represent um bamb booy container and talk about this topic um and I think from my point of view I’ll I’ll probably provide a great deal of a concentrate on the United States side of things when we speak 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 introduce yourself and inform the audience a bit about papay global yes definitely thank you Ian hi everybody I’m Gina dorelis I’m the Work expert supervisor.
at I handle the work Council in the US APAC EMA and Israel region I likewise function as us Council for I’m licensed in New York and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and workforce management as a Service work force provider to workers serving in over.
160 countries all right 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 introduction so it’s really really nice to in fact see in the webinar chat where everyone’s actually attending from today I can see that we have people in Las Vegas and Indiana already so if you want to continue tell where you are that would be definitely fantastic whilst we simply await everybody else to type of like take part there we go Chicago also well um so whil we’re doing that I’m waiting on everybody to kind of join I’ll simply run us through the program um today we are going to talk about employing Talent new greater Details Management termination compliance and automation wow the chat has actually got actually actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is great so uh I’m hoping that we’re in fact going to have some actually terrific commentary and questions throughout the uh the webinar also okay so that’s the program then what I ‘d like to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a staff member and their data is Papaya Global Saint Helena diverse without fail and an.
Ever evolving relationship that begins the moment an individual signs up with a company it continues throughout their work and Beyond this journey can be divided into k to numerous key stages whilst we’re really you understand that they’re employed with us so on boarding daily operations compensation and benefits professional advancement then we get to the offboarding and even advocacy so it even occurs after the employee has actually left your work throughout the journey companies are responsible for gathering storing securing staff member data in compliance with data personal privacy regulations no matter where it is you’re running around the globe it typically involves implementing safe and secure information management systems and ensuring strict adherence to local requirements to secure both the employee and the organization the advancement of worker data and management c.