A CFO’s Point of view on Sure Payroll Vs Papaya Global…
Papaya Global’s platform streamlines international labor force management for business, ensuring compliance with local guidelines and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes international payroll operations, supplying services with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of international organization operations, managing payroll throughout borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a global business, I comprehend the vital importance of effective and certified payroll management. In our pursuit of quality, we have accepted ingenious solutions to improve our procedures, and one such transformative tool is Software.
The Challenge of International Payroll:
Global growth causes varied obstacles, and payroll management is no exception. Differing tax guidelines, varying work laws, and multiple currencies make it vital for companies to adopt sophisticated services to guarantee precision, compliance, and efficiency in payroll processing.
Software: A Comprehensive Service:
staff members so it’s really essential to ensure that you have actually considered from the start any post-termination constraints that you wish to take into the agreement of work that they’re enforceable so that means you need to truly think about what it is you’re wanting to secure and why clearly Specify what’s included within the scope of that secret information and resolve the period of limitation post-determination that you wish to apply and be actually able to to justify that in relation to copyright the position really depends on the kind of copyright you’re wanting to protect and also the jurisdiction so for instance from a copyright perspective in the Netherlands the end customer is most likely to have the um copyright rights in a copyright that the employees produced who’s been under their supervision and control immediately however in someplace like Poland for example that automated right may not exist and that assignment would require to stream through the chain uh contractually so it truly depends on the jurisdiction and the type of IP okay thank you Elizabeth Steve was staying on the subject of agreements Miss categorized misclassifying employees
Papaya Global Software application has actually emerged as a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have experienced firsthand the positive impact of on our organization’s monetary operations.
Unified International Payroll Processing:
enables our company to process payroll flawlessly throughout numerous nations. The platform’s unified technique permits consistent payroll computations, decreasing mistakes and ensuring compliance with local regulations. This has considerably alleviated the threats connected with worldwide payroll processing.
also key for if in the future someone states misclassification you have your file supported by the requisite files which the best assessment tools to show somebody that you had a thoughtful procedure and so 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 handling an individual or are you dealing with a personal Service Corporation and how are they running what are they doing is it the kind of work that provides itself more to being an independent specialist than a staff member so for instance accounting
I.T engineering the creatives these all provide themselves more to that assessment of being freelancer you understand also uh where are they doing it can they work from anywhere or do they need to be on site and handled again another crucial factor is the management and supervision of the uh worker and after that finally when is it a specific task is it a six-month job six years all of this is workable however it needs to be recorded and it has to be thoroughly um investigated so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out internationally these tools take a questionnaire list for the employee the employee completes and fills these concerns out therefore does completion client or the recipient of the services they both put their details into the tool and then it does an evaluation waiting the different questions since not every jurisdiction has the same feeling 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 an employee yellow you’re on the cusp we can most likely help you with that in regards to some of the things you need to boost to make sure that you are given that evaluation of uh independent specialist or green where you were examined as an as a independent specialist once that assessment is done all the requisite documents are below it so that if in the future there
Navigating the complexities of international work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our organization updated with changes in guidelines throughout jurisdictions. This makes sure that our payroll processes adhere to the current standards, minimizing the risk of non-compliance and associated penalties.
Sure Payroll Vs Papaya Global and Time Cost Savings:
The software’s automation capabilities have actually substantially minimized the time and effort needed for payroll processing. Manual data entry and repetitive jobs have actually been decreased, allowing our finance group to concentrate on tactical initiatives rather than administrative burdens. This has led to increased efficiency and productivity within our monetary operations.
in one since each state has its own guidelines Californians are some of the most strict an example is pay slips on a payslip in California the best information needs to be on the payslip in the best format and in the ideal position if you’re in breach of of policies for payslips the fines are issued per payslip so that’s each worker each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to worry to think about and we’re just two questions in and 10 minutes approximately hiring in one country is hard enough however when employing in a you know on a worldwide level it’s an entirely different story you need to make sure that you’re up to date with present as well as pending regional labor laws Steve um how do you ensure and guarantee that the people 2.0 group is on top of an ever-changing landscape and that your clients are totally supported and I’ll organize this into 3 key things we perform in first and foremost you require to have the best group so we employ a group of worldwide experts in Employment Practices um that ex that group of specialists includes legal representatives it consists of payroll experts it consists of HR specialists and these are individuals that not only understand the laws in these in these nations and regions but they also understand the languages they know the regional practices they know the cultures and it’s important to have that best group and really 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 accurate and timely monetary data is crucial for decision-making. The platform’s reporting capabilities empower me to make informed strategic decisions based upon real-time insights into our worldwide payroll information.
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 acquired rights directive otherwise known as the 2p policies in the UK the working time regulations which has actually had numerous strands of that legislation tested particularly around holiday pay and naturally as Kathy’s going to come on to talk about later on employment status which there’s been numerous precedence set for many years so I believe it’s really that continuous development of the work law landscape that you really require to navigate when when operating in Europe okay thank you Elizabeth Ray what about you from your individual experience while moving across the pond as pointed out each country has different policies but the United States is essentially 50 countries
Scalability for Business Development:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software perfectly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the developing requirements of our global organization.
International Chief legal officer we’ve 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 state individually and jointly these three individuals have Years of experience in in employment law and international Employment Practices so thank you it’s an enjoyment 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 also have one of our own Stars erase share head of Global Services at papaya Global tell us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business 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 places on a personal element and related to our subject today I’ve had the chance to move and work in three different countries it is the company’s duty to guarantee my protection while living in a foreign country compliance with regional laws and regulations is important for me or anyone else as an expat or as a regional so today we have welcomed our relied on Partners people 2.0 to demonstrate the importance of local
expertise when business Go International thank you and enjoy alright thank you as I stated let’s proceed to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you’ve been considering we’ll talk about the realities a company requires to consider when opening a brand-new entity and expanding into brand-new nations along with keeping things going we’ll cover aspects such as regional regulations considerations when working with compliance key challenges payments and what not to do it’s one of the most crucial things remembering what not to do um operating on a global level is not for the faint-hearted the larger a business grows the more they need to comprehend and handle understanding what to do in each brand-new situation as it rises is necessary on lots of levels understanding local regulations and local laws as well as service practices helps reduce Associated and worldwide expansion papaya through our local professionals can browse potential risks such as copyright security information personal privacy security problems making sure the company’s operations remain certified and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has actually shown to be a vital property in our mission for efficient and compliant international payroll management. As the CFO of a global company, I am positive in suggesting Papaya Global to companies seeking to simplify their payroll procedures, improve compliance, and attain greater effectiveness in handling their global workforce. The software application’s innovative functions and dedication to excellence line up with our strategic objectives, making it an essential part of our monetary operations.
I find time and time again the workers often misclassified unconsciously they do not comprehend the conditions of employment or agreement and are informed by the customer why it’s optimum mainly to the customer why you must be used or participated in this fashion the worker may owe taxes and Social Security to the authorities the future pension and health care opportunities 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 gone by they haven’t contributed to pensions And so on so it’s a big effect that they never ever knew they were walking into you could not agree with you more if you state the UK for example hmrc can go back as much as 10 years um Kathy business are getting insurance versus misclassification however normally premiums are just covering the expense of legal costs whilst the average claim assessed versus employers corresponds to to 40 or 50 percent of the base pay of employee exists any point in getting 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 charge and interest for the most part I have not 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 saying 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 Sure Payroll Vs Papaya Global …
The extensive functions of come at an expense,
Recent years have seen a remarkable modification to the workforce as the rise of remote work has broken down geographical barriers to hiring. Businesses can now employ staff from anywhere worldwide, enabling them to access the very best available skill for any given role. This provides employees more freedom to work from home and increase their earnings without transferring to costly locations or commuting long distances. A 2022 survey found that 87% of employees who have the possibility to work remotely take that opportunity. The outbreak of COVID-19, in conjunction with brand-new business connection software application, accelerated the relocate to remote work, including in industries previously hesitant to accept the trend.
insights are valuable to us and and your fellow attendees so first things initially 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 kind of Industries retail and Beauty to Aerospace in all types of organizations startup to matrixed environments around the world I supplied management 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
Worldwide I work across business guy maning and constructing external relationships supporting Business customers and solutions and acting as a consultant I want 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 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 in fact work very carefully with our um HR department too to manage different legal and HR matters that turn up so actually delighted 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 terrific
While Papaya Global offers integrations with different HR and financing systems, the execution process was not without challenges. Integrating the software with our existing infrastructure needed additional modification, causing some hold-ups in the preliminary rollout.
Paying FAQs Sure Payroll Vs Papaya Global 2024
and some smaller subsidiaries within our company discovered the rates to be on the greater side. As a global business, balancing the requirement for sophisticated features with budget plan restraints ended up being a delicate exercise.
Client Support Reaction Time:
There were instances where our teams faced concerns that needed timely support. Nevertheless, the response time from’s client support team was not constantly as fast as desired, leading to periodic delays in concern resolution.
Our implementation of included a phased method. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing processes. This enabled us to determine and attend to integration obstacles early on. As the software application became more implanted in our operations, we gradually broadened its use to cover our whole worldwide labor force.
The automated features structured our payroll processes, reducing the time invested in manual computations and compliance tracking. Regular training sessions and continuous support from Papaya assisted our groups end up being proficient users of the software application, maximizing its potential for our company.
Companies that staff member workers across multiple countries typically face intricate challenges when it pertains to handling their workforce. Among the biggest hurdles is consolidating different data streams and sticking to diverse regional and national labor regulations, which can be both lengthy and pricey. Furthermore, setting up regional entities in new regions can be a pricey and suboptimal option, with alternatives such as opening a foreign subsidiary or employing an expert employment company (PEO) often charging up to 15% of the payroll. These obstacles have led to a substantial boost in problem recruiting qualified personnel, with 75% of employers reporting this concern in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers a solution supporting all types of employment. It provides an end-to-end platform, from employee onboarding and continuous management to international payments and. It helps business with labor law compliance in the jurisdictions in which they run, offers management of employment benefits, and guarantees 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 expert in payroll and labor force 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 attend 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 brand-new tab will open in your web browser with the webcast study please be sure to finish it as soon 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 thrilled to have you here as we embark on a journey of data to guideline attaining
360 degree worker compliance where we’ll dive into the essential aspects of the staff member compliance management model throughout the session we’ll explore real life difficulties real local guidelines finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to safeguard your company and workers while staying compliant in an
Ever developing regulative environment in the everchanging world of business and financing guaranteeing compliance with payroll regulations is not just crucial however likewise a legal vital from the minute of hiring to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance threats that have significant consequences however with a deeper more nuanced understanding of their commitments organizations can not just navigate the elaborate landscape but likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools required to navigate the complex Terrain of compliance whether you’re a skilled P expert a small company owner or somebody new to the field what I want to do before we start and I believe it’s truly crucial
In our mission to boost performance and precision in handling our international labor force, our international corporation turned to, a leading and workforce management software application. The transition aimed to simplify the complex task of managing throughout different countries, currencies, and compliance regulations.
One of the standout functions of is its robust compliance management system. The software application automatically updates itself to adhere to ever-evolving tax and labor laws throughout numerous jurisdictions. This has been invaluable in making sure that our procedures remain certified in each country of operation.
is to state that the content here is not legal guidance it is merely for your info please consult your legal team should you have any concerns or issues in relation to anything that we have actually talked about today our key take crucial takeaways by the end of the webinar will be an understanding of employee 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.
work as your hris or is sort of your core staff member record um to handle that staff member life cycle 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 advantages Administration module that permits you to assist manage the advantages you offer to your employees so actually thrilled to be here represent um bamb booy jar and talk about this subject 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 sort of compliance so happy to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and tell the audience a bit about papay worldwide yes absolutely thank you Ian hello everybody I’m Gina dorelis I’m the Work specialist manager.
at I manage the employment Council in the United States APAC EMA and Israel area I likewise serve as us Council for I’m licensed 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 completely underqualified sitting here with you both well I forgot to mention as we were sort of like going through the introduction so it’s really really great to really see in the webinar chat where everyone’s really going to from today I can see that we have people in Las Vegas and Indiana already so if you wish to continue tell where you are that would be absolutely fantastic whilst we just wait on everyone else to sort of like join in there we go Chicago as well well um so whil we’re doing that I’m waiting on everybody to type of join I’ll simply run us through the agenda um today we are going to talk about employing Talent brand-new greater Information Management termination compliance and automation wow the chat has got actually really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely everywhere which is fantastic so uh I’m hoping that we’re actually going to have some actually fantastic commentary and questions throughout the uh the webinar as well okay so that’s the program then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their information is Sure Payroll Vs Papaya Global multifaceted without fail and an.
Ever progressing relationship that starts the moment an individual signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to a number of essential stages whilst we’re actually you understand that they’re utilized with us so on boarding day-to-day operations compensation and advantages expert development then we get to the offboarding and even advocacy so it even occurs after the staff member has left your employment throughout the journey organizations are responsible for collecting keeping protecting worker data in compliance with data privacy regulations no matter where it is you’re operating around the globe it frequently involves implementing secure data management systems and ensuring strict adherence to local requirements to secure both the worker and the organization the evolution of worker data and management c.