A CFO’s Point of view on Papaya Global Training Leeds…
The platform allows business to manage their global labor force and adhere to local employment guidelines and tax laws. Papaya Global offers a range of services, including payroll management, benefits administration, compliance management, time and participation tracking, and HR management. The platform is created to simplify the intricacies of international payroll and provide real-time presence and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New York, London, and Kiev.
In the dynamic landscape of international company operations, managing payroll throughout borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of an international company, I understand the important importance of effective and compliant payroll management. In our pursuit of excellence, we have accepted innovative options to simplify our procedures, and one such transformative tool is Software application.
The Challenge of Worldwide Payroll:
International expansion produces varied challenges, and payroll management is no exception. Differing tax regulations, varying work laws, and several currencies make it imperative for organizations to embrace sophisticated solutions to guarantee precision, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Solution:
workers so it’s actually basic to ensure that you have actually considered from the outset any post-termination constraints that you wish to take into the agreement of employment that they’re enforceable so that indicates you need to actually consider what it is you’re looking to secure and why clearly Define what’s included within the scope of that secret information and attend to the period of constraint post-determination that you want to apply and be actually able to to validate that in relation to intellectual property the position truly depends upon the type of intellectual property you’re aiming to secure and likewise the jurisdiction so for example from a copyright point of view in the Netherlands the end client is more likely to have the um copyright rights in a copyright that the employees produced who’s been under their guidance and control automatically however in somewhere like Poland for instance that automated right may not exist and that assignment would require to stream through the chain uh contractually so it truly depends upon the jurisdiction and the kind of IP fine thank you Elizabeth Steve was remaining on the topic of agreements Miss categorized misclassifying workers
Papaya Global Software 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 interface. As the CFO, I have actually seen firsthand the favorable effect of on our company’s financial operations.
Unified Global Payroll Processing:
enables our business to procedure payroll flawlessly throughout numerous countries. The platform’s unified approach enables constant payroll computations, reducing mistakes and making sure compliance with regional policies. This has considerably alleviated the dangers connected with international payroll processing.
also crucial for if in the future somebody 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 because process it’s the who the what the where and the when who are you handling are you dealing with a specific or are you handling a personal Service Corporation and how are they running what are they doing is it the type of work that lends itself more to being an independent contractor than an employee so for example 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 have to be on site and managed once again another key factor is the management and supervision of the uh employee and then finally when is it a particular job is it a six-month project six years all of this is workable but it has to be recorded 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 enhanced it this year so that we can roll it out globally these tools take a questionnaire list for the worker the worker completes and fills these concerns out therefore does the end customer or the recipient of the services they both put their information into the tool and after that it does an examination waiting the various concerns since not every jurisdiction has the exact same sensation about some of these questions some believe they’re more crucial than others and it brings out a red yellow or green red you’re probably a worker yellow you’re on the cusp we can most likely assist you with that in terms of a few 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 assessed as an as a independent professional once that examination is done all the requisite documents are beneath it so that if later there
Navigating the complexities of global work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in guidelines throughout jurisdictions. This makes sure that our payroll processes stick to the latest standards, decreasing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal firms who help us keep our databases entirely approximately date and we likewise get in touch with we need to when we see an uncommon or or particularly complicated circumstances fine thanks Steve I can just see a fast concern in the Q a window yes the session will be tape-recorded and sent to participants afterwards um returning to to the webinar itself Ray employer of record is controlled in a different way all over the world and the German law for example it’s classed as staff member leasing can you shed any light on some of the special considerations for nations and where the eor model isn’t regulated yes Ian staff member leasing or labor leasing as it’s likewise called which is prevalent in several countries particularly in Europe enforces strict guidelines on products such as the length of assignment it likewise designates employees to collective bargaining arrangements that provides rights and benefits however even in the nations that do not have those strict regulations for example the UK Canada and the nordics there are policies for each country and each worker is dealt with the like all the other workers because country and all those guidelines need to be followed all right thank you Ray um Kathy moving I would state to yourself what do business require to consider when determining contract status to protect themselves and the rights of hires what are the benefits and drawbacks of hiring professionals and Freelancers versus long-term workers so obviously the the benefit of professionals versus staff members is the the versatility for both the worker and for the employer um however I can’t worry enough how important it is to have a consistent comprehensive and a well-documented compliance
Papaya Global Training Leeds and Time Cost Savings:
The software’s automation abilities have actually considerably minimized the time and effort needed for payroll processing. Handbook information entry and repetitive tasks have actually been lessened, permitting our finance group to focus on tactical initiatives rather than administrative concerns. This has resulted in increased efficiency and productivity within our financial operations.
in one because each state has its own policies 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 best position if you remain in breach of of regulations for payslips the fines are issued per payslip so that’s each staff member each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to worry to think of and we’re just 2 questions in and 10 minutes or so working with in one country is challenging enough but when hiring in a you know on a worldwide level it’s an entirely various story you require to make certain that you depend on date with existing along with pending regional labor laws Steve um how do you make certain and guarantee that individuals 2.0 team is on top of an ever-changing landscape which your customers are totally supported and I’ll organize this into three essential things we carry out in most importantly you require to have the right team so we hire a team of global experts in Work Practices um that ex that team of professionals includes attorneys it includes payroll specialists it consists of HR experts and these are individuals that not only understand the laws in these in these nations and areas however they likewise understand the languages they know the local practices they know the cultures and it is essential to have that best group and truly have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies detailed real-time analytics and reporting tools. As a CFO, having access to precise and timely monetary data is crucial for decision-making. The platform’s reporting abilities empower me to make informed strategic choices based upon real-time insights into our international payroll information.
The practical application and degree of the application to work law can be examined through the legal system using case law examples. For example, the acquired rights directive, likewise referred to as the 2p guidelines in the UK, and the working time regulations have actually undergone various legal analyses, especially concerning vacation pay. Additionally, the idea of employment status has actually seen several legal precedents over the
Scalability for Company Development:
Among the standout functions of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software perfectly accommodates modifications in our workforce and payroll requirements. This scalability makes sure that our payroll facilities can adjust to the developing needs of our international organization.
International Chief legal officer we’ve 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 individually and jointly these three people have Decades of experience in in employment law and international Employment Practices so thank you it’s a pleasure 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 likewise have one of our own Stars erase share head of Global Services 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 Partnerships I have actually developed Papaya’s network of in-country Partners in over 160 areas on a personal aspect and related to our subject today I’ve had the opportunity to relocate and operate in 3 different countries it is the company’s duty to ensure my protection while residing in a foreign nation compliance with regional laws and guidelines is crucial for me or anyone else as an expat or as a regional so today we have actually welcomed our relied on Partners individuals 2.0 to demonstrate the significance of regional
competence when business Go Worldwide thank you and take pleasure in all right thank you as I said let’s carry on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you’ve been thinking about we’ll discuss the facts a company requires to think about when opening a brand-new entity and expanding into brand-new countries as well as keeping things going we’ll cover elements such as local policies factors to consider when employing compliance key challenges payments and what not to do it’s one of the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the bigger a company grows the more they need to understand and manage knowing what to do in each new circumstance as it increases is essential on many levels comprehending local policies and regional laws along with company practices assists reduce Associated and worldwide expansion papaya through our regional specialists can navigate prospective threats such as intellectual property security information privacy security problems ensuring the business’s operations stay certified and safe tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has actually shown to be a vital possession in our quest for efficient and certified international payroll management. As the CFO of a global business, I am confident in recommending Papaya Global to companies seeking to streamline their payroll processes, improve compliance, and attain higher effectiveness in managing their global labor force. The software’s ingenious features and commitment to quality align with our strategic goals, making it an essential part of our financial operations.
publicly announced and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly revealed settlements there’s likewise significant legal expenses there’s there’s other penalties there’s other expenses behind that as well so the total cost can be really considerable in the 10s of millions of dollars or more and and those amounts are growing uh the reason why business are getting it so incorrect is really just the guidelines are complex and they’re changing all the time believe ir-35 in the UK which has actually been an ongoing advancement for numerous years now and and still a lot of unpredictability among companies on what it really suggests and how you deal with it most companies are just not familiar with the rules and and act as if the the rules are the same everywhere which they’re not so so encourage you to to be extremely proactive as you’re engaging uh employees from a classification point of view okay thank you Stephen and returning to yourself Ray it’s not only the company that suffers in the long run what impacts can this have on the worker Papaya Global Training Leeds particularly when it concerns their own tax liabilities social security and benefits for example jury and clearly the employees the opposite of the coin
I find time and time again the employees frequently misclassified unconsciously they do not comprehend the conditions of work or contract and are informed by the customer why it’s most advantageous mainly to the customer why you need to be employed or participated in this fashion the worker may owe taxes and Social Security to the authorities the future pension and health care benefits of the worker can be impacted and numerous times it can be years before this all falls out and by that time it’s far too late years have passed they haven’t contributed to pensions And so on so it’s a big effect that they never understood 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 companies are taking out insurance against misclassification but generally premiums are only covering the expense of legal fees whilst the average claim assessed versus companies corresponds to to 40 or half 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 penalty and interest in many cases I have not seen it at least so uh the the other location that I do think 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 rejected coverage on the basis of the truth that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Training Leeds …
The comprehensive features of come at a cost,
Over the past few decades, the workforce has undergone a considerable transformation with the introduction of remote work, which has actually removed geographical restraints on hiring. This has made it possible for services to hire skill from all over the world, allowing them to put together the very best possible group for each function. As a result, employees have actually acquired greater versatility to work from home and increase their revenues without having to move to expensive areas or commute fars away. According to a 2022 survey, 87% of staff members who have the alternative to work from another location choose to do so. The COVID-19 pandemic, integrated with developments in business connectivity software, has further sped up the shift towards remote work, even in industries that were at first reluctant to embrace the trend.
insights are valuable to us and and your fellow guests so first things first 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 have actually had roles in all type of Industries retail and Beauty to Aerospace in all kinds of companies startup to matrixed environments across the globe I provided leadership and method to populations of more than 100,000 workers on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
International I work across the business man maning and developing external relationships supporting Business customers and options and functioning as a consultant I wish to introduce our 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 business counsil at bambo HR so I lead our internal legal group and in fact work very closely with our um HR department also to manage various legal and HR matters that turn up so truly delighted to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our mission is to set you as HR specialists free to do fantastic
While Papaya Global deals integrations with numerous HR and finance systems, the application procedure was not without challenges. Integrating the software with our existing infrastructure required extra customization, resulting in some hold-ups in the initial rollout.
Paying FAQs Papaya Global Training Leeds 2024
and some smaller subsidiaries within our company found the rates to be on the higher side. As a global company, balancing the need for innovative functions with spending plan restrictions ended up being a delicate exercise.
Client Support Reaction Time:
There were instances where our groups faced concerns that needed timely assistance. Nevertheless, the reaction time from’s consumer assistance team was not always as fast as desired, resulting in occasional delays in concern resolution.
Our application 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 identify and attend to integration obstacles early on. As the software application became more implanted in our operations, we slowly expanded its usage to cover our whole worldwide workforce.
The automated features structured our payroll procedures, decreasing the time invested in manual computations and compliance tracking. Regular training sessions and continuous assistance from Papaya assisted our teams become skilled users of the software application, optimizing its capacity for our organization.
Companies that worker workers throughout numerous countries often deal with elaborate challenges when it comes to managing their labor force. Among the biggest hurdles is combining various information streams and adhering to varied regional and nationwide labor policies, which can be both lengthy and expensive. Moreover, establishing regional entities in brand-new areas can be a pricey and suboptimal alternative, with alternatives such as opening a foreign subsidiary or hiring a professional employment organization (PEO) often charging up to 15% of the payroll. These difficulties have actually led to a considerable boost in difficulty hiring certified workers, with 75% of employers reporting this concern 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.
uses a solution supporting all types of work. It supplies an end-to-end platform, from staff member onboarding and ongoing management to worldwide payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, provides management of employment 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 specialist in payroll and workforce management. She co-founded after seeing the technology gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to participate in the complete webcast in order to get 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 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 presentation hi and thank you for joining us today we’re enjoyed have you here as we embark on a journey of information to regulation achieving
360 degree worker compliance where we’ll dive into the vital aspects of the worker compliance management design throughout the session we’ll check out real life challenges real local regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to safeguard your company and employees while remaining certified in an
Ever evolving regulative environment in the everchanging world of organization and finance ensuring compliance with payroll policies is not only essential however also a legal important from the moment of working with to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance threats that have significant effects however with a much deeper more nuanced understanding of their commitments companies can not just navigate the detailed landscape however also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the understanding and tools essential to navigate the complex Surface of compliance whether you’re a seasoned P specialist a small company owner or someone brand-new to the field what I wish to do before we start and I think it’s really crucial
In our quest to improve efficiency and precision in handling our international workforce, our international corporation turned to, a leading and labor force management software. The transition intended to simplify the complex task of managing throughout various countries, currencies, and compliance policies.
One of the standout features of is its robust compliance management system. The software application immediately updates itself to follow ever-evolving tax and labor laws across numerous jurisdictions. This has actually been important in ensuring that our processes remain compliant in each nation of operation.
is to state that the content here is illegal advice it is merely for your details please consult your legal group must you have any questions or issues in relation to anything that we’ve gone over today our secret take crucial takeaways by the end of the webinar will be an understanding of staff member compliance risks how to employ 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 have actually.
serve as your hris or is kind of your core staff member record um to manage that employee life process throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those employees and compensate them and advantages Administration module that enables you to assist handle the advantages you supply to your employees so really excited to be here represent um bamb booy container and talk about this subject um and I think from my viewpoint I’ll I’ll probably offer a great deal of a concentrate on the US side of things when we discuss sort of compliance so pleased to be here thanks for having me Ian all right 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 hey there everybody I’m Gina dorelis I’m the Employment specialist supervisor.
at I manage the work Council in the US APAC EMA and Israel region I also work as us Council for I’m certified in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and labor force management as a Service labor force supplier to employees serving in over.
160 countries fine thank you so both I feel totally underqualified sitting here with you both well I forgot to discuss as we were type of like going through the introduction so it’s actually really great to really see in the webinar chat where everybody’s actually going to from today I can see that we have people in Las Vegas and Indiana currently so if you wish to carry on tell where you are that would be definitely great whilst we simply await everybody else to kind of like join in there we go Chicago also well um so whil we’re doing that I’m waiting for everybody to kind of join I’ll simply run us through the agenda um today we are going to talk about employing Talent new higher Details Management termination compliance and automation wow the chat has got really really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely everywhere which is wonderful so uh I’m hoping that we’re really going to have some truly great commentary and concerns throughout the uh the webinar also fine so that’s the agenda 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 information is Papaya Global Training Leeds multifaceted without fail and an.
Ever evolving relationship that starts the minute a person signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to several key phases whilst we’re really you know that they’re employed with us so on boarding daily operations payment and advantages professional development then we get to the offboarding and even advocacy so it even occurs after the employee has actually left your work throughout the journey organizations are accountable for gathering storing safeguarding staff member information in compliance with data privacy policies no matter where it is you’re operating around the globe it frequently involves executing protected data management systems and ensuring rigorous adherence to regional requirements to secure both the staff member and the organization the advancement of employee information and management c.