A CFO’s Perspective on Papaya Global Software Update…
Papaya Global’s platform simplifies international workforce management for companies, making sure compliance with local policies and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes global payroll operations, offering companies with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of global business operations, managing payroll across borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a global business, I understand the vital significance of efficient and certified payroll management. In our pursuit of quality, we have accepted innovative solutions to simplify our procedures, and one such transformative tool is Software.
The Challenge of Worldwide Payroll:
Worldwide growth brings about varied obstacles, and payroll management is no exception. Differing tax regulations, varying work laws, and numerous currencies make it vital for organizations to embrace advanced options to make sure accuracy, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Service:
It is vital to consider and consist of post-termination limitations in the employment agreement to guarantee enforceability. You must carefully identify what you are seeking to safeguard and plainly specify the secret information that falls within its scope. In addition, define the duration of the post-termination restriction and be prepared to validate it in relation to intellectual property. The guidelines relating to copyright vary depending upon the kind 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, contractual task might be essential.
Papaya Global Software application has actually become a game-changer in the world of international payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly user interface. As the CFO, I have experienced firsthand the favorable effect of on our company’s monetary operations.
Unified International Payroll Processing:
enables our company to process payroll flawlessly throughout several countries. The platform’s unified approach enables consistent payroll computations, decreasing errors and guaranteeing compliance with regional policies. This has actually considerably alleviated the threats related to international payroll processing.
also crucial for if later on somebody says misclassification you have your file supported by the requisite documents which the ideal evaluation tools to show someone that you had a thoughtful process therefore what do you need to include in that process it’s the who the what the where and the when who are you handling are you dealing with a private or are you handling 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 professional than a staff member so for example accounting
I.T engineering the creatives these all lend themselves more to that evaluation of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they have to be on website and handled again another key aspect is the management and supervision of the uh employee and after that finally when is it a particular job is it a six-month project six years all of this is workable but it needs to be recorded and it needs to be completely 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 submits and fills these questions out therefore does completion customer or the recipient of the services they both put their details into the tool and then it does an evaluation waiting the various concerns due to the fact that not every jurisdiction has the exact same feeling 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 an employee 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 boost to ensure that you are considered that assessment of uh independent specialist or green where you were evaluated as an as a independent contractor once that assessment is done all the requisite documents are underneath it so that if later there
Browsing the intricacies of global employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization current with changes in policies throughout jurisdictions. This guarantees that our payroll procedures abide by the current requirements, lessening the threat of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal companies who help us keep our databases entirely as much as date and we likewise contact we require to when we see an unusual or or particularly intricate circumstances all right thanks Steve I can simply see a fast question in the Q a window yes the session will be recorded and sent out to guests afterwards um returning to to the webinar itself Ray employer of record is regulated differently worldwide and the German law for example it’s classed as staff member leasing can you shed any light on some of the unique factors to consider for countries and where the eor model isn’t managed yes Ian worker leasing or labor leasing as it’s also called which is prevalent in numerous countries especially in Europe imposes rigorous regulations on products such as the length of assignment it also designates employees to collective bargaining contracts that gives them rights and benefits however even in the countries that don’t have those rigorous guidelines for instance the UK Canada and the nordics there are guidelines for each country and each worker is treated the same as all the other workers because nation and all those guidelines need to be complied with okay thank you Ray um Kathy moving I would state to yourself what do companies require to factor in when figuring out agreement status to secure themselves and the rights of hires what are the advantages and disadvantages of employing specialists and Freelancers versus irreversible workers so clearly the the advantage of specialists versus staff members is the the flexibility for both the worker 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 Software Update and Time Savings:
The software application’s automation capabilities have significantly reduced the time and effort required for payroll processing. Handbook data entry and repeated tasks have been decreased, enabling our financing group to concentrate on tactical efforts instead of administrative concerns. This has actually resulted in increased effectiveness and performance within our financial operations.
in one since each state has its own regulations Californians are a few of the most rigorous an example is pay slips on a payslip in California the right information needs to be on the payslip in the best format and in the best position if you’re in breach of of regulations for payslips the fines are released per payslip so that’s each staff member each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to fret to think about and we’re just 2 concerns in and 10 minutes approximately working with in one nation is tough enough but when employing in a you understand on a global level it’s a totally different story you need to make sure that you’re up to date with existing along with pending local labor laws Steve um how do you ensure and guarantee that individuals 2.0 team is on top of an ever-changing landscape and that your clients are totally supported and I’ll arrange this into three key things we do in primarily you need to have the best group so we work with a group of international specialists in Work Practices um that ex that group of experts includes attorneys it includes payroll specialists it includes HR professionals and these are individuals that not just know the laws in these in these nations and regions but they also know the languages they know the local practices they know the cultures and it is very important to have that right group and truly have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides extensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt monetary data is vital for decision-making. The platform’s reporting abilities empower me to make educated strategic decisions based on real-time insights into our worldwide payroll data.
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 gotten rights regulation otherwise known as the 2p policies in the UK the working time regulations which has had various strands of that legislation tested especially around holiday pay and obviously as Kathy’s going to come on to talk about later on employment status which there’s been several precedence set over the years so I think it’s truly that consistent evolution of the employment law landscape that you really require to browse when when working in Europe all right thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each country has various regulations however the United States is basically 50 nations
Scalability for Organization Growth:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into brand-new markets, the software flawlessly accommodates changes in our labor force and payroll requirements. This scalability ensures that our payroll facilities can adapt to the progressing requirements of our global company.
International Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of customer service and I would say separately and jointly these three people have Years of experience in in employment law and worldwide Work Practices so thank you it’s an enjoyment 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 one of our own Stars erase share head of Global Solutions at papaya Worldwide tell us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the business for around four and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 places on an individual aspect and related to our subject today I have actually had the chance to relocate and work in three various countries it is the company’s obligation to guarantee my defense while living in a foreign country compliance with regional laws and regulations is crucial for me or anyone else as an expat or as a local so today we have invited our trusted Partners individuals 2.0 to show the value of regional
know-how when business Go Global thank you and enjoy alright thank you as I stated let’s move on to the pact program today’s webinar is a chance to ask the panel the concerns you have actually been thinking about we’ll go over the facts a business requires to consider when opening a brand-new entity and expanding into new nations in addition to keeping things going we’ll cover aspects such as regional guidelines factors to consider when hiring compliance essential difficulties payments and what not to do it is among the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the larger a company grows the more they require to understand and manage knowing what to do in each brand-new situation as it rises is important on lots of levels comprehending local guidelines and local laws as well as service practices helps alleviate Associated and international growth papaya through our local professionals can browse possible threats such as copyright defense data privacy security issues making sure the business’s operations stay certified and safe and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software has actually proven to be a vital asset in our mission for effective and compliant global payroll management. As the CFO of a worldwide business, I am positive in recommending Papaya Global to companies seeking to simplify their payroll processes, enhance compliance, and attain higher efficiency in managing their international labor force. The software’s innovative functions and dedication to quality align with our tactical goals, making it an essential part of our monetary 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 publicly revealed settlements there’s also substantial legal costs there’s there’s other charges there’s other expenses behind that as well so the total expense can be really significant in the 10s of countless dollars or more and and those amounts are growing uh the reason that business are getting it so incorrect is truly just the rules are complex and they’re altering all the time believe ir-35 in the UK which has been an ongoing development for numerous years now and and still a great deal of unpredictability amongst business on what it really means and how you deal with it most companies are just 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 really proactive as you’re engaging uh employees from a classification viewpoint fine thank you Stephen and returning to yourself Ray it’s not just the company that suffers in the long run what effects can this have on the worker Papaya Global Software Update especially when it comes to their own tax liabilities social security and advantages for instance jury and undoubtedly the employees the opposite of the coin
I discover time and time again the employees often misclassified unconsciously they do not understand the conditions of work or agreement and are told by the client why it’s most advantageous generally to the client why you must be employed or engaged in this fashion the worker may owe taxes and Social Security to the authorities the future pension and health care privileges of the worker 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 gone by they haven’t added to pensions And so on so it’s a huge impact that they never knew 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 however normally premiums are only covering the expense of legal charges whilst the average claim evaluated versus employers equates to to 40 or 50 percent of the base pay of worker is there any point in securing insurance and what is the alternative yeah to your point um you do require to read the small print it is not covering the taxes charge and interest in many cases I have not seen it a minimum of 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 stuff you could be rejected protection on the basis of the reality that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Software Update …
The comprehensive functions of come at an expense,
Recent years have seen a dramatic modification to the labor force as the rise of remote work has broken down geographical barriers to working with. Services can now work with staff from anywhere worldwide, enabling them to access the very best readily available talent for any provided role. This offers workers more liberty to work from home and increase their income without relocating to expensive areas or travelling long distances. A 2022 study found that 87% of employees who have the chance to work from another location take that opportunity. The outbreak of COVID-19, in conjunction with new enterprise connection software application, sped up the move to remote work, including in industries formerly reluctant to accept the pattern.
insights are valuable to us and and your fellow attendees so first things initially though um let’s get to know everybody my name is Ian Charles and I have actually operated in payroll for the last 25 years I’ve had functions in all kind of Industries retail and Appeal to Aerospace in all types of businesses startup to matrixed environments across the globe I supplied leadership and method to populations of more than 100,000 staff members on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work across the business male maning and building external relationships supporting Enterprise clients and options and acting as an advisor I ‘d like to introduce our very first Greg um guest Greg who will kick things off by telling 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 actually work very closely with our um HR department also to handle numerous legal and HR matters that turn up so truly excited to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our mission is to set you as HR experts complimentary to do great
While Papaya Global deals integrations with various HR and financing systems, the implementation procedure was not without challenges. Incorporating the software application with our existing facilities required extra modification, leading to some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Software Update 2024
and some smaller subsidiaries within our organization discovered the prices to be on the higher side. As a worldwide business, balancing the requirement for advanced functions with budget plan constraints became a delicate exercise.
Client Support Reaction Time:
There were circumstances where our teams faced concerns that needed timely help. Nevertheless, the action time from’s client support group was not always as fast as desired, resulting in occasional delays in concern resolution.
Our implementation of involved a phased technique. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This permitted us to determine and attend to combination obstacles early on. As the software became more instilled in our operations, we gradually broadened its use to cover our whole worldwide labor force.
The automated features structured our payroll processes, minimizing the time spent on manual calculations and compliance tracking. Regular training sessions and continuous support from Papaya helped our teams become competent users of the software application, optimizing its capacity for our company.
Nevertheless, paying a workforce can be intricate. It is especially challenging for business who employ staff across multiple countries, as they should continuously combine various data streams, manually track local and national labor and policies, and spend valuable time and resources to establish local entities in brand-new areas. These business are confronted with suboptimal, expensive options, like opening a foreign subsidiary or working with a professional work organization, which is a local company that works with staff members on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty hiring certified personnel, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
provides a solution supporting all types of employment. It offers an end-to-end platform, from employee onboarding and ongoing management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they run, offers management of work advantages, and guarantees information privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading professional in payroll and workforce management. She co-founded after seeing the innovation space in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to go to the complete webcast in order to receive 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 web browser with the webcast survey please make certain to complete 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 information to guideline attaining
360 degree employee compliance where we’ll dive into the essential aspects of the staff member compliance management model throughout the session we’ll explore real world obstacles genuine regional regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to secure your company and employees while staying compliant in an
Ever evolving regulative environment in the everchanging world of organization and finance making sure compliance with payroll guidelines is not just vital however likewise a legal vital from the moment of working with to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance threats that have significant effects however with a much deeper more nuanced understanding of their commitments organizations can not just browse the elaborate landscape but also proactively guarantee this 360 degree compliance the webinar is designed to equip you with the knowledge and tools needed to browse the complex Surface of compliance whether you’re a skilled P specialist a small business owner or somebody brand-new to the field what I want to do before we begin and I believe it’s truly important
In our mission to boost effectiveness and precision in managing our global labor force, our multinational corporation turned to, a leading and workforce management software application. The shift intended to streamline the complex task of managing throughout numerous nations, currencies, and compliance guidelines.
One of the standout functions of is its robust compliance management system. The software application immediately updates itself to follow ever-evolving tax and labor laws across several jurisdictions. This has actually been indispensable in ensuring that our procedures remain compliant in each country of operation.
is to state that the content here is not legal advice it is merely for your information please consult your legal team ought to you have any concerns or issues in relation to anything that we’ve discussed today our secret take crucial takeaways by the end of the webinar will be an understanding of staff member compliance threats how to hire ly with self-confidence how to simplify data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
serve as your hris or is type of your core staff member record um to manage that staff member life process throughout their Journey with you as as a staff member in addition to a payroll module we need to assist you pay those workers and compensate them and benefits Administration module that permits you to help manage the benefits you offer to your workers so actually thrilled to be here represent um bamb booy container and talk about this subject um and I think from my perspective I’ll I’ll most likely provide a lot of a concentrate on the US side of things when we discuss type of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a little bit about papay international yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Work expert manager.
at I handle the employment Council in the US APAC EMA and Israel area I likewise serve as us Council for I’m certified in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and workforce management as a Service work force supplier 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 discuss as we were type of like going through the intro so it’s actually truly good to in fact 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 want to carry on inform where you are that would be definitely fantastic whilst we simply await everybody else to sort of like participate in there we go Chicago also well um so whil we’re doing that I’m awaiting everyone to kind of join I’ll just run us through the program um today we are going to discuss employing Talent new higher Details Management termination compliance and automation wow the chat has got actually truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is great so uh I’m hoping that we’re actually going to have some truly great commentary and concerns 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 worker and their data is Papaya Global Software Update complex without fail and an.
Ever developing relationship that begins the minute an individual joins a company it continues throughout their employment and Beyond this journey can be divided into k to a number of crucial stages whilst we’re in fact you know that they’re used with us so on boarding daily operations compensation and benefits expert development then we get to the offboarding and even advocacy so it even takes place after the staff member has actually left your employment throughout the journey companies are accountable for gathering storing securing staff member information in compliance with information personal privacy regulations no matter where it is you’re operating around the world it typically involves executing protected information management systems and making sure rigorous adherence to regional requirements to protect both the worker and the organization the development of employee data and management c.