A CFO’s Viewpoint on Papaya Global Timesheet Entry…
Papaya Global’s platform streamlines global workforce management for companies, ensuring compliance with local guidelines and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes international payroll operations, supplying organizations 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 international business operations, handling payroll across borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a worldwide company, I comprehend the important value of effective and certified payroll management. In our pursuit of excellence, we have embraced ingenious services to simplify our processes, and one such transformative tool is Software.
The Difficulty of International Payroll:
Worldwide expansion causes varied obstacles, and payroll management is no exception. Differing tax guidelines, varying work laws, and numerous currencies make it vital for companies to embrace advanced services to ensure precision, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Service:
It is crucial to think about and consist of post-termination restrictions in the employment contract to guarantee enforceability. You need to thoroughly determine what you are seeking to protect and clearly specify the secret information that falls within its scope. In addition, specify the duration of the post-termination constraint and be prepared to justify it in relation to copyright. The guidelines regarding copyright vary depending upon the type of IP and the jurisdiction. For example, in the Netherlands, the end customer is most likely to have copyright rights over works produced by employees under their supervision, while in Poland, legal project may be required.
Papaya Global Software application has become a game-changer in the world of international 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 seen firsthand the positive impact of on our company’s monetary operations.
Unified Worldwide Payroll Processing:
enables our business to procedure payroll flawlessly throughout multiple nations. The platform’s unified method enables consistent payroll calculations, decreasing errors and making sure compliance with regional guidelines. This has significantly alleviated the risks connected with international payroll processing.
likewise essential for if later somebody states misclassification you have your file supported by the requisite documents and that 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 private or are you dealing with a personal Service Corporation and how are they operating what are they doing is it the kind of work that lends itself more to being an independent contractor than a worker so for example accounting
I.T engineering 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 need to be on website and managed again another essential aspect is the management and supervision of the uh employee and after that lastly when is it a specific job is it a six-month job 6 years all of this is manageable but it needs to be recorded and it has to be completely 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 worldwide these tools take a questionnaire list for the employee the worker submits and fills these questions out and so does the end customer or the recipient of the services they both put their info into the tool and then it does an evaluation waiting the various questions since not every jurisdiction has the very same sensation about some of these questions some believe 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 terms of a few of the things you need to bolster to make certain that you are considered that evaluation of uh independent specialist or green where you were evaluated as an as a independent professional once that evaluation is done all the requisite documents are below it so that if in the future there
Browsing the intricacies of worldwide work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our company up-to-date with modifications in regulations throughout jurisdictions. This makes sure that our payroll procedures follow the current standards, lessening the risk of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal companies who help us keep our databases entirely approximately date and we also call on we require to when we see an uncommon or or especially complicated scenarios alright thanks Steve I can just see a fast question in the Q a window yes the session will be tape-recorded and sent out to guests later on um returning to to the webinar itself Ray employer of record is controlled differently around the world and the German law for example it’s classified as worker leasing can you shed any light on a few of the unique considerations 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 several nations specifically in Europe enforces strict regulations on items such as the length of task it also assigns workers to collective bargaining arrangements that gives them rights and advantages however even in the nations that don’t have those stringent regulations for example the UK Canada and the nordics there are regulations for each nation and each worker is treated the same as all the other workers in that country and all those regulations require to be abided by okay thank you Ray um Kathy moving I would state to yourself what do business need to consider when figuring out contract status to secure themselves and the rights of hires what are the pros and cons of employing contractors and Freelancers versus long-term workers so undoubtedly the the benefit of contractors versus workers is the the flexibility for both the employee and for the employer um but I can’t stress enough how important it is to have a consistent thorough and a well-documented compliance
Papaya Global Timesheet Entry and Time Cost Savings:
The software’s automation capabilities have actually considerably minimized the time and effort needed for payroll processing. Handbook information entry and repeated tasks have been minimized, permitting our finance team to focus on tactical initiatives instead of administrative burdens. This has led to increased effectiveness and productivity within our financial operations.
in one given that each state has its own policies Californians are some of the most strict an example is pay slips on a payslip in California the ideal details has to be on the payslip in the ideal format and in the right position if you’re in breach of of regulations for payslips the fines are provided per payslip so that’s each staff member each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to fret to think of and we’re just 2 questions in and 10 minutes approximately employing in one nation is challenging enough but when working with in a you know on a worldwide level it’s a totally various story you require to ensure that you depend on date with existing along with pending local labor laws Steve um how do you ensure and make sure that individuals 2.0 team is on top of an ever-changing landscape which your customers are totally supported and I’ll arrange this into 3 crucial things we do in firstly you need to have the best group so we work with a team of international experts in Employment Practices um that ex that group of experts includes legal representatives it includes payroll experts it includes HR experts and these are individuals that not only understand the laws in these in these nations and regions however they likewise know the languages they understand the local practices they know the cultures and it is very important to have that ideal team and truly have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough 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 capabilities empower me to make educated tactical decisions based on real-time insights into our worldwide payroll data.
The practical application and degree of the application to employment law can be evaluated through the legal system using case law examples. For instance, the obtained rights regulation, also known as the 2p regulations in the UK, and the working time regulations have been subject to various legal analyses, particularly relating to holiday pay. In addition, the concept of work status has 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 broaden into new markets, the software application flawlessly accommodates changes in our workforce and payroll requirements. This scalability ensures that our payroll facilities can adapt to the evolving needs of our worldwide company.
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 client services and I would say individually and jointly these three people have Years of experience in in employment law and worldwide 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 likewise have among our own Stars erase share head of Global Solutions at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the company for around four and a half years as head of Collaborations I have actually established Papaya’s network of in-country Partners in over 160 areas on an individual element and related to our subject today I have actually had the chance to transfer and operate in three different countries it is the company’s obligation to ensure my security while living in a foreign nation compliance with local laws and regulations is essential for me or anybody else as an expat or as a local so today we have welcomed our relied on Partners individuals 2.0 to demonstrate the significance of local
competence when business Go International thank you and delight in fine thank you as I said let’s carry on to the pact program today’s webinar is an opportunity to ask the panel the questions you have actually been thinking of we’ll go over the facts a business requires to think about when opening a brand-new entity and expanding into new nations as well as keeping things going we’ll cover aspects such as local regulations factors to consider when working with compliance key obstacles payments and what not to do it is among the most essential things remembering what not to do um operating on a global level is not for the faint-hearted the bigger a business grows the more they need to comprehend and handle knowing what to do in each new circumstance as it rises is necessary on numerous levels understanding local policies and regional laws along with service practices assists reduce Associated and global expansion papaya through our local professionals can browse prospective dangers such as copyright protection information personal privacy security issues guaranteeing the business’s operations remain compliant and safe tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has actually proven to be a vital property in our quest for effective and compliant global payroll management. As the CFO of a worldwide company, I am confident in recommending Papaya Global to organizations looking for to improve their payroll procedures, boost compliance, and attain greater efficiency in handling their worldwide labor force. The software application’s innovative features and dedication to excellence line up with our tactical goals, making it an essential part of our financial operations.
I discover time and time again the employees often misclassified unwittingly they don’t understand the conditions of employment or contract and are told by the customer why it’s most advantageous primarily to the client why you must be employed or participated in this fashion the worker might owe taxes and Social Security to the authorities the future pension and health care privileges of the worker can be impacted and a number of times it can be years before this all falls out and by that time it’s too late years have actually gone by they have not added to pensions Etc so it’s a big effect that they never understood 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 ten years um Kathy companies are getting insurance coverage against misclassification however normally premiums are only covering the expense of legal charges whilst the typical claim examined against employers corresponds to to 40 or half of the base pay of employee is there any point in securing 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 penalty and interest in many cases I haven’t seen it a minimum of so uh the the other area that I do believe if you managed to get the coverage what we are stating is is that if your compliance program is not up to stuff you could be denied coverage on the basis of the truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Timesheet Entry …
The detailed functions of come at a cost,
Over the past couple of years, the labor force has actually undergone a significant transformation with the introduction of remote work, which has actually eliminated geographical constraints on hiring. This has actually allowed organizations to recruit talent from all over the world, enabling them to assemble the very best possible group for each function. As a result, employees have gained higher flexibility to work from home and increase their earnings without having to move to pricey areas or commute long distances. According to a 2022 study, 87% of staff members who have the option to work remotely pick to do so. The COVID-19 pandemic, integrated with advancements in business connection software, has actually even more sped up the shift towards remote work, even in industries that were initially reluctant to embrace the pattern.
insights are important to us and and your fellow participants so first things first though um let’s be familiar with everyone my name is Ian Charles and I’ve worked in payroll for the last 25 years I’ve had roles in all type of Industries retail and Charm to Aerospace in all types of companies startup to matrixed environments around the world I supplied leadership and technique 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 business man maning and constructing external relationships supporting Business customers and solutions and functioning as an advisor I wish to present our very first Greg um guest Greg who will kick things off by informing us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian 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 really closely with our um HR department as well to handle different legal and HR matters that come up so really excited to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our objective is to set you as HR experts free to do fantastic
Although Papaya Global supplies combinations with numerous HR and financing systems, we experienced some difficulties throughout the integration process. Tailoring the software application to line up with our existing infrastructure proved to be more intricate than expected, leading to delays in the initial rollout.
The substantial functions provided by Papaya Global come at a cost, which a few of our smaller sized subsidiaries found to be excessively expensive. As a worldwide organization, we had to thoroughly weigh the need for advanced functionality versus budget plan restraints.
Assistance Action Time:
On occasion, our groups experienced issues that required immediate support. Nevertheless, the action time from Papaya Global’s client assistance team was not constantly as timely as we would have liked, leading to delays in solving those problems.
Our application of included a phased approach. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This permitted us to identify and resolve integration challenges early on. As the software application became more implanted in our operations, we gradually expanded its use to cover our whole international workforce.
The automated features streamlined our payroll procedures, decreasing the time invested in manual calculations and compliance tracking. Regular training sessions and continuous support from Papaya assisted our teams become skilled users of the software, maximizing its potential for our company.
Companies that employee workers across numerous countries typically deal with complex obstacles when it comes to handling their workforce. One of the biggest hurdles is consolidating various data streams and sticking to diverse regional and national labor policies, which can be both time-consuming and pricey. Moreover, setting up local entities in brand-new regions can be a costly and suboptimal alternative, with options such as opening a foreign subsidiary or working with a professional employment organization (PEO) often charging up to 15% of the payroll. These obstacles have actually resulted in a significant boost in trouble recruiting certified personnel, with 75% of employers reporting this problem in 2022, a 21% increase from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
provides an option supporting all forms of work. It supplies an end-to-end platform, from staff member onboarding and continuous management to international payments and. It helps business with labor law compliance in the jurisdictions in which they run, uses management of employment benefits, and guarantees information personal 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 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 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 study please make sure 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 hey there and thank you for joining us today we’re enjoyed have you here as we start a journey of data to guideline attaining
360 degree worker compliance where we’ll dive into the important aspects of the staff member compliance management design throughout the session we’ll check out real world challenges genuine regional 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 workers while staying certified in an
Ever progressing regulatory environment in the everchanging world of company and financing making sure compliance with payroll policies is not just important but also a legal necessary from the minute of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance threats that have far-reaching repercussions however with a much deeper more nuanced understanding of their obligations organizations can not just navigate the elaborate landscape but also proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools needed to browse the complex Terrain of compliance whether you’re an experienced P professional a small company owner or someone new to the field what I wish to do before we start and I think it’s really crucial
In our mission to improve efficiency and accuracy in managing our global labor force, our multinational corporation turned to, a leading and labor force management software application. The transition aimed to simplify the complex job of handling throughout different nations, currencies, and compliance policies.
One of the standout features of is its robust compliance management system. The software immediately updates itself to comply with ever-evolving tax and labor laws across several jurisdictions. This has been indispensable in ensuring that our processes stay certified in each nation of operation.
is to state that the material here is illegal guidance it is simply for your details please consult your legal group needs to you have any concerns or concerns in relation to anything that we have actually talked about today our secret take crucial takeaways by the end of the webinar will be an understanding of worker compliance risks how to employ ly with confidence how to streamline information management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
act as your hris or is type of your core worker record um to manage that worker life cycle throughout their Journey with you as as a worker in addition to a payroll module we need to help you pay those workers and compensate them and advantages Administration module that permits you to assist manage the benefits you supply to your workers so truly thrilled to be here represent um bamb booy jar and talk about this topic um and I guess from my perspective I’ll I’ll most likely supply a lot of a focus on the US side of things when we discuss kind of compliance so happy to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a little bit about papay international yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Employment specialist supervisor.
at I manage the employment Council in the US APAC EMA and Israel region I also act as us Council for I’m certified in New york city and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and labor force management as a Service work force supplier to employees serving in over.
160 nations fine thank you so both I feel totally 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 actually truly great to really see in the webinar chat where everybody’s really going to from today I can see that we have people in Las Vegas and Indiana already so if you want to continue inform where you are that would be definitely wonderful whilst we simply wait for everybody else to type of like take part there we go Chicago as well well um so whil we’re doing that I’m waiting on everyone to sort of join I’ll just run us through the program um today we are going to go over employing Talent new higher Info Management termination compliance and automation wow the chat has got truly actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over which is great so uh I’m hoping that we’re in fact going to have some truly excellent commentary and questions throughout the uh the webinar also all right 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 an employee and their data is Papaya Global Timesheet Entry complex without fail and an.
Ever progressing relationship that begins the minute an individual joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous essential phases whilst we’re really you understand that they’re used with us so on boarding everyday operations compensation and benefits expert advancement then we get to the offboarding and even advocacy so it even takes place after the worker has left your work throughout the journey organizations are accountable for gathering keeping securing employee data in compliance with information privacy regulations no matter where it is you’re running worldwide it frequently involves implementing protected information management systems and making sure strict adherence to regional requirements to protect both the employee and the company the development of staff member data and management c.