A CFO’s Perspective on Papaya Global Training Belfast…
The platform makes it possible for companies to handle their global labor force and abide by regional employment policies and tax laws. Papaya Global offers a series of services, consisting of payroll management, advantages administration, compliance management, time and presence tracking, and HR management. The platform is created to streamline the complexities of international payroll and offer real-time presence and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New york city, London, and Kiev.
In the dynamic landscape of global business operations, managing payroll throughout borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a global company, I understand the vital value of effective and certified payroll management. In our pursuit of quality, we have accepted innovative services to improve our procedures, and one such transformative tool is Software application.
The Challenge of International Payroll:
Worldwide growth brings about diverse challenges, and payroll management is no exception. Differing tax policies, varying employment laws, and several currencies make it necessary for companies to embrace advanced options to make sure accuracy, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Solution:
It is vital to think about and consist of post-termination constraints in the employment contract to ensure enforceability. You must thoroughly determine what you are seeking to safeguard and plainly specify the confidential information that falls within its scope. Furthermore, specify the period of the post-termination constraint and be prepared to justify it in relation to copyright. The rules concerning copyright differ depending on the type of IP and the jurisdiction. For example, in the Netherlands, completion client is most likely to have copyright rights over works produced by employees under their supervision, while in Poland, legal project might be required.
Papaya Global Software application has become 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 actually experienced firsthand the positive effect of on our organization’s financial operations.
Unified Global Payroll Processing:
enables our business to process payroll effortlessly throughout multiple nations. The platform’s unified approach enables consistent payroll estimations, minimizing mistakes and making sure compliance with regional regulations. This has considerably alleviated the dangers related to international payroll processing.
also crucial for if in the future somebody says misclassification you have your file supported by the requisite files and that the right assessment tools to reveal someone that you had a thoughtful process therefore what do you need to consist of because 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 contractor than a worker so for instance accounting
I.T engineering the creatives these all provide 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 need to be on site and managed again another essential aspect is the management and supervision of the uh worker and then finally when is it a specific project is it a six-month job 6 years all of this is workable however it needs to be recorded and it needs to be completely 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 employee the worker submits and fills these questions out therefore does completion customer or the recipient of the services they both put their information into the tool and after that it does an assessment waiting the different concerns due to the fact that not every jurisdiction has the exact same sensation about a few of these concerns 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 assist you with that in regards to some of the things you need to boost to make sure that you are given that assessment of uh independent contractor or green where you were examined as an as a independent professional once that evaluation is done all the requisite documents are beneath it so that if later on there
Navigating the complexities of worldwide employment laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our organization updated with modifications in guidelines across jurisdictions. This ensures that our payroll processes adhere to the latest requirements, minimizing the danger of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal companies who assist us keep our databases completely up to date and we also contact we require to when we see an uncommon or or especially complex situations fine thanks Steve I can simply see a fast concern in the Q a window yes the session will be tape-recorded and sent to guests later on um moving back to to the webinar itself Ray employer of record is managed in a different way worldwide 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 worker leasing or labor leasing as it’s likewise called which is prevalent in a number of nations specifically in Europe enforces rigorous policies on items such as the length of assignment it also appoints workers to collective bargaining agreements that provides rights and benefits but even in the nations that don’t have those rigorous guidelines for instance the UK Canada and the nordics there are policies for each nation and each employee is treated the like all the other workers in that country and all those regulations require 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 contract status to safeguard themselves and the rights of hires what are the advantages and disadvantages of hiring specialists and Freelancers versus irreversible employees so clearly the the benefit of contractors versus employees is the the flexibility for both the worker and for the company um however I can’t worry enough how essential it is to have a consistent comprehensive and a well-documented compliance
Papaya Global Training Belfast and Time Savings:
The software’s automation capabilities have significantly reduced the time and effort needed for payroll processing. Handbook information entry and recurring tasks have been reduced, allowing our financing team to focus on strategic initiatives instead of administrative problems. This has actually resulted in increased effectiveness and efficiency 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 ideal info has to be on the payslip in the ideal format and in the ideal position if you remain in breach of of regulations for payslips the fines are released per payslip so that’s each employee each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to stress to think of and we’re just two questions in and 10 minutes approximately hiring in one nation is challenging enough but when hiring in a you know on an international level it’s a totally different story you require to make certain that you’re up to date with existing as well as pending regional labor laws Steve um how do you make sure and ensure that individuals 2.0 group is on top of an ever-changing landscape which your customers are fully supported and I’ll arrange this into 3 key things we carry out in firstly you need to have the ideal group so we work with a group of global professionals in Employment Practices um that ex that group of professionals consists of lawyers it includes payroll experts it includes HR professionals and these are individuals that not only know the laws in these in these countries and regions but they likewise understand the languages they know the regional practices they know the cultures and it is necessary to have that best team and genuinely have the group 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 precise and prompt monetary information is essential for decision-making. The platform’s reporting capabilities empower me to make educated strategic decisions based on real-time insights into our global payroll data.
The useful application and degree of the application to work law can be evaluated through the legal system utilizing case law examples. For example, the obtained rights regulation, also known as the 2p policies in the UK, and the working time guidelines have gone through numerous legal interpretations, especially regarding holiday pay. Additionally, the principle of employment status has seen numerous legal precedents over the
Scalability for Company Development:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software application flawlessly accommodates modifications in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the progressing needs of our international organization.
Worldwide Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of client services and I would say individually and jointly these three individuals have Decades of experience in in employment law and global Employment Practices so thank you it’s a satisfaction to be with everybody 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 delete share head of Global Services at papaya International inform us about yourself thank you Elin Ian hi my name is Elite I’ve been with the company for around 4 and a half years as head of Partnerships I have actually developed Papaya’s network of in-country Partners in over 160 places on an individual element and related to our subject today I’ve had the opportunity to move and work in 3 various nations it is the business’s responsibility to guarantee my defense while residing in a foreign country compliance with local laws and policies is essential for me or anybody else as an expat or as a regional so today we have actually welcomed our trusted Partners individuals 2.0 to demonstrate the importance of regional
knowledge when companies Go Worldwide thank you and enjoy okay thank you as I stated let’s move on to the pact program today’s webinar is an opportunity to ask the panel the concerns you’ve been thinking about we’ll discuss the realities a company requires to think about when opening a new entity and broadening into brand-new nations as well as keeping things going we’ll cover aspects such as local regulations considerations when working with compliance key difficulties payments and what not to do it is among the most crucial things remembering what not to do um operating on a global level is not for the faint-hearted the larger a company grows the more they need to understand and manage understanding what to do in each new scenario as it rises is necessary on numerous levels comprehending regional guidelines and regional laws along with business practices helps reduce Associated and global expansion papaya through our local specialists can browse possible threats such as intellectual property security information personal privacy security concerns ensuring the business’s operations remain certified and protected tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has actually shown to be an indispensable possession in our mission for efficient and certified international payroll management. As the CFO of an international company, I am positive in recommending Papaya Global to organizations seeking to streamline their payroll processes, improve compliance, and attain greater effectiveness in managing their worldwide labor force. The software application’s ingenious features and dedication to quality line up with our strategic goals, making it an important part of our monetary operations.
I discover time and time again the employees often misclassified unknowingly they do not comprehend the conditions of employment or contract and are informed by the customer why it’s optimum generally to the customer why you must be utilized 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 employee can be affected and several times it can be years before this all falls out and by that time it’s far too late years have passed they have not added to pensions Etc so it’s a big effect that they never knew they were walking into you could not agree with you more if you state the UK for instance hmrc can go back as much as 10 years um Kathy business are taking out insurance coverage against misclassification but typically premiums are only covering the cost of legal costs whilst the average claim evaluated against 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 need to read the small print it is not covering the taxes penalty and interest in most cases I haven’t seen it at least so uh the the other area that I do think if you managed to get the coverage what we are saying 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
Cost Considerations and Papaya Global Training Belfast …
The detailed features of come at a cost,
Over the past couple of years, the labor force has undergone a significant improvement with the introduction of remote work, which has actually gotten rid of geographical restraints on hiring. This has actually made it possible for organizations to recruit skill from all over the world, permitting them to put together the best possible group for each role. As a result, workers have gained higher versatility to work from home and increase their revenues without needing to relocate to costly areas or commute fars away. According to a 2022 study, 87% of workers who have the alternative to work from another location choose to do so. The COVID-19 pandemic, combined with advancements in enterprise connectivity software, has actually further sped up the shift towards remote work, even in industries that were at first hesitant to adopt the pattern.
insights are valuable to us and and your fellow participants so first things initially though um let’s learn more about everybody my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had functions in all sort of Industries retail and Appeal to Aerospace in all kinds of organizations start-up to matrixed environments across the globe I supplied leadership and technique to populations of more than 100,000 employees on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work throughout business male maning and constructing external relationships supporting Enterprise clients and options and functioning as an advisor 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 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 corporate counsil at bambo HR so I lead our internal legal team and really work extremely closely with our um HR department as well to deal with different legal and HR matters that come up so actually thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our objective is to set you as HR professionals free to do great
Although Papaya Global offers combinations with different HR and financing systems, we experienced some obstacles during the integration process. Tailoring the software to align with our existing facilities showed to be more complex than expected, leading to delays in the preliminary rollout.
The substantial functions used by Papaya Global come at an expense, which some of our smaller subsidiaries found to be excessively expensive. As a global organization, we needed to carefully weigh the requirement for advanced performance versus budget restraints.
Support Response Time:
On occasion, our groups experienced issues that needed immediate help. Nevertheless, the response time from Papaya Global’s customer assistance team was not constantly as timely as we would have liked, leading to delays in fixing those concerns.
Our application of involved a phased technique. We started by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This enabled us to determine and resolve integration difficulties early on. As the software application ended up being more ingrained in our operations, we gradually broadened its use to cover our entire international workforce.
The automated features streamlined our payroll procedures, lowering the time spent on manual calculations and compliance tracking. Regular training sessions and ongoing assistance from Papaya helped our teams end up being competent users of the software, optimizing its potential for our organization.
However, paying a workforce can be complex. It is especially challenging for companies who utilize staff across several nations, as they need to constantly consolidate different information streams, by hand track regional and national labor and policies, and invest important time and resources to establish regional entities in brand-new locations. These companies are faced with suboptimal, costly options, like opening a foreign subsidiary or hiring a professional employment company, which is a local firm that hires workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble hiring certified personnel, a boost of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
offers a solution supporting all kinds of work. It provides an end-to-end platform, from staff member onboarding and continuous management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they operate, uses management of work advantages, and ensures data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading specialist in payroll and workforce management. She co-founded after seeing the innovation space in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to go to 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 new tab will open in your web browser with the webcast study please make sure to finish it as soon as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hey there and thank you for joining us today we’re enjoyed have you here as we embark on a journey of information to guideline attaining
360 degree employee compliance where we’ll dive into the essential aspects of the employee compliance management model throughout the session we’ll check out real life difficulties real regional regulations 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 workers while staying compliant in an
Ever developing regulative environment in the everchanging world of company and finance ensuring compliance with payroll policies is not just essential but also a legal crucial from the minute of employing to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance dangers that have significant repercussions nevertheless with a deeper more nuanced understanding of their obligations organizations can not just navigate the intricate landscape but likewise proactively guarantee this 360 degree compliance the webinar is created to equip you with the knowledge and tools necessary to navigate the complex Terrain of compliance whether you’re a skilled P specialist a small business owner or someone brand-new to the field what I want to do before we begin and I think it’s actually crucial
In our mission to enhance effectiveness and accuracy in managing our global labor force, our multinational corporation turned to, a leading and workforce management software application. The transition aimed to simplify the complex job of handling throughout various nations, currencies, and compliance regulations.
Among the standout features of is its robust compliance management system. The software instantly updates itself to stick to ever-evolving tax and labor laws across numerous jurisdictions. This has been vital in ensuring that our procedures remain certified in each country of operation.
is to state that the content here is illegal advice it is merely for your info please consult your legal team must you have any questions or issues 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 threats how to hire ly with self-confidence how to streamline data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
function as your hris or is kind of your core employee record um to manage that employee life cycle throughout their Journey with you as as an employee in addition to a payroll module we have to assist you pay those employees and compensate them and advantages Administration module that permits you to assist handle the benefits you provide to your workers so really delighted to be here represent um bamb booy jar and speak about this topic um and I think from my point of view I’ll I’ll probably provide a great deal of a focus on the US side of things when we discuss type of compliance so happy to be here thanks for having me Ian all right 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 hey there everybody I’m Gina dorelis I’m the Employment expert manager.
at I handle the employment Council in the United States APAC EMA and Israel area I also act as us Council for I’m certified in New York and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service labor force service provider to employees serving in over.
160 countries okay thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the intro so it’s actually truly great to actually 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 continue tell where you are that would be definitely wonderful whilst we just wait for everybody else to kind of like take part there we go Chicago too well um so whil we’re doing that I’m waiting for everybody to sort of join I’ll just run us through the agenda um today we are going to go over employing Talent brand-new greater Details Management termination compliance and automation wow the chat has got truly really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is fantastic so uh I’m hoping that we’re in fact going to have some truly excellent commentary and concerns throughout the uh the webinar also fine so that’s the program then what I want to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their information is Papaya Global Training Belfast diverse without fail and an.
Ever progressing relationship that begins the moment a person signs up with an organization 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 everyday operations compensation and advantages expert advancement then we get to the offboarding and even advocacy so it even happens after the employee has left your work throughout the journey organizations are accountable for gathering storing securing staff member information in compliance with information personal privacy guidelines no matter where it is you’re running around the globe it typically includes executing safe information management systems and guaranteeing rigorous adherence to regional requirements to protect both the worker and the company the evolution of worker information and management c.