A CFO’s Perspective on Papaya Global User Already Logged On…
Papaya Global’s platform enhances worldwide workforce management for companies, guaranteeing compliance with regional regulations and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and attendance tracking, and HR assistance. The platform centralizes global payroll operations, providing services with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of international organization operations, handling payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a global company, I comprehend the important significance of effective and certified payroll management. In our pursuit of excellence, we have actually embraced ingenious services to improve our processes, and one such transformative tool is Software application.
The Obstacle of International Payroll:
International growth produces diverse difficulties, and payroll management is no exception. Differing tax policies, varying work laws, and several currencies make it imperative for organizations to adopt sophisticated solutions to ensure precision, compliance, and efficiency in payroll processing.
Software: A Comprehensive Solution:
It is crucial to consider and consist of post-termination restrictions in the employment contract to guarantee enforceability. You must carefully determine what you are looking for to safeguard and clearly specify the secret information that falls within its scope. In addition, define the period of the post-termination restriction and be prepared to validate it in relation to intellectual property. The rules relating to copyright vary depending upon the kind of IP and the jurisdiction. For instance, in the Netherlands, completion client is likely to have copyright rights over works produced by workers under their supervision, while in Poland, legal task may be needed.
Papaya Global Software application has actually become a game-changer in the realm of international 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 seen firsthand the positive effect of on our organization’s monetary operations.
Unified Global Payroll Processing:
allows our business to process payroll perfectly throughout multiple nations. The platform’s unified approach enables constant payroll calculations, minimizing mistakes and making sure compliance with local policies. This has actually considerably alleviated the dangers associated with worldwide payroll processing.
also crucial for if later someone states misclassification you have your file supported by the requisite documents and that the ideal assessment tools to reveal somebody that you had a thoughtful procedure therefore what do you have to consist of in that procedure it’s the who the what the where and the when who are you handling are you handling an individual or are you handling a personal Service Corporation and how are they operating what are they doing is it the type of work that lends itself more to being an independent professional than a worker so for example accounting
I.T crafting the creatives these all lend themselves more to that evaluation of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they have to be on site and handled again another essential factor is the management and guidance of the uh worker and after that finally when is it a specific project is it a six-month task 6 years all of this is manageable however it has to be recorded and it needs to be thoroughly um investigated 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 survey list for the worker the employee completes and fills these questions out and so does the end customer or the recipient of the services they both put their details into the tool and after that it does an examination waiting the different concerns because not every jurisdiction has the exact same sensation about some of these questions some believe they’re more important 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 probably help you with that in regards to some of the important things you require to bolster to make sure that you are considered that evaluation of uh independent contractor or green where you were examined as an as a independent contractor once that evaluation is done all the requisite files are beneath it so that if later there
Browsing the intricacies of international work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in guidelines across jurisdictions. This makes sure that our payroll processes abide by the most recent requirements, minimizing the risk of non-compliance and associated charges.
network of In-House outside advisors accounting companies and legal firms who assist us keep our databases completely as much as date and we likewise call on we require to when we see an unusual or or particularly complicated situations all right thanks Steve I can just see a quick concern in the Q a window yes the session will be tape-recorded and sent out to guests afterwards um returning to to the webinar itself Ray company of record is managed differently around the world and the German law for instance it’s classed as staff member leasing can you shed any light on a few of the special considerations for countries and where the eor model isn’t controlled yes Ian employee leasing or labor leasing as it’s likewise called which is prevalent in a number of nations especially in Europe enforces stringent regulations on items such as the length of assignment it also appoints employees to collective bargaining contracts that provides rights and advantages however even in the nations that don’t have those rigorous guidelines for example the UK Canada and the nordics there are guidelines for each nation and each worker is treated the like all the other workers in that nation and all those policies require to be complied with all right thank you Ray um Kathy moving I would say to yourself what do companies require to factor in when identifying contract status to secure themselves and the rights of hires what are the advantages and disadvantages of working with specialists and Freelancers versus permanent employees so obviously the the benefit of contractors versus employees is the the flexibility for both the worker and for the employer um but I can’t stress enough how important it is to have a constant extensive and a well-documented compliance
Papaya Global User Already Logged On and Time Savings:
The software application’s automation abilities have considerably decreased the time and effort required for payroll processing. Handbook information entry and repeated tasks have actually been decreased, allowing our financing team to concentrate on tactical initiatives instead of administrative burdens. This has actually resulted in increased performance and performance within our financial operations.
in one given that each state has its own policies Californians are some of the most stringent an example is pay slips on a payslip in California the right details has to be on the payslip in the best format and in the ideal position if you remain in breach of of policies for payslips the fines are provided per payslip so that’s each worker each pay slip will incur a great thanks Ray thank you Elizabeth a lot to worry to think about and we’re just 2 questions in and 10 minutes or two working with in one country is hard enough however when working with in a you understand on an international level it’s an entirely various story you require to make sure 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 fully supported and I’ll arrange this into 3 crucial things we do in first and foremost you require to have the ideal team so we employ a group of international specialists in Employment Practices um that ex that team of experts includes attorneys it includes payroll professionals it includes HR specialists and these are individuals that not only know the laws in these in these nations and areas however they likewise understand the languages they understand the regional practices they know the cultures and it is necessary to have that ideal group and truly have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers extensive real-time analytics and reporting tools. As a CFO, having access to accurate and timely financial information is essential for decision-making. The platform’s reporting abilities empower me to make educated strategic choices based on real-time insights into our global payroll information.
application and its scope and the way that it applies to work law in practice can be evaluated through the judicial system by way of case law examples of that would be the obtained rights regulation otherwise known as the 2p guidelines in the UK the working time guidelines which has had various strands of that legislation tested particularly around holiday pay and obviously as Kathy’s going to come on to talk about later on employment status which there’s been several precedence set throughout the years so I believe it’s really that constant advancement of the work law landscape that you actually require to browse when when working in Europe all right thank you Elizabeth Ray what about you from your individual experience while crossing the pond as discussed each country has various policies however the United States is essentially 50 countries
Scalability for Service Growth:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and expand into brand-new markets, the software perfectly accommodates modifications in our labor force and payroll requirements. This scalability ensures that our payroll infrastructure can adjust to the developing requirements of our worldwide organization.
Global Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Gander who is our senior vice president of client services and I would say separately and jointly these three individuals have Decades of experience in in employment law and international Employment Practices so thank you it’s a satisfaction 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 delete share head of Global Services at papaya Worldwide inform us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the company for around 4 and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 places on an individual element and related to our subject today I have actually had the chance to transfer and operate in 3 various countries it is the business’s responsibility to guarantee my security while residing in a foreign country compliance with regional laws and regulations is essential for me or anybody 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 regional
know-how when companies Go Global thank you and take pleasure in okay thank you as I said let’s carry on to the pact program today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking of we’ll discuss the realities a company needs to think about when opening a brand-new entity and broadening into brand-new nations in addition to keeping things going we’ll cover elements such as regional guidelines factors to consider when employing compliance essential obstacles payments and what not to do it is among the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the larger a company grows the more they require to comprehend and handle understanding what to do in each brand-new situation as it increases is necessary on lots of levels understanding local guidelines and regional laws in addition to company practices helps alleviate Associated and worldwide expansion papaya through our local professionals can browse prospective risks such as intellectual property security data personal privacy security concerns making sure the company’s operations stay certified and safe and secure tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has proven to be an indispensable possession in our quest for effective and certified worldwide payroll management. As the CFO of an international business, I am positive in recommending Papaya Global to organizations looking for to streamline their payroll processes, improve compliance, and attain higher performance in managing their international labor force. The software’s innovative functions and dedication to quality align with our tactical objectives, making it an essential part of our monetary operations.
I find time and time again the employees typically misclassified unwittingly they don’t understand the conditions of employment or contract and are informed by the customer why it’s most advantageous mainly to the customer why you should be employed or taken part in this style the employee may owe taxes and Social Security to the authorities the future pension and health care benefits of the employee can be affected and numerous times it can be years before this all falls out and by that time it’s too late years have gone by they haven’t added to pensions And so on so it’s a big effect that they never ever understood they were strolling into you could not agree with you more if you say the UK for instance hmrc can return as much as 10 years um Kathy companies are getting insurance against misclassification however normally premiums are only covering the cost of legal costs whilst the typical claim evaluated versus employers corresponds to to 40 or half of the base pay of worker is there any point in taking out insurance coverage and what is the alternative yeah to your point um you do need to read the fine 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 think if you managed to get the protection what we are stating is is that if your compliance program is not up to pack you could be rejected coverage on the basis of the fact that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global User Already Logged On …
The thorough functions of come at a cost,
Over the past couple of decades, the labor force has undergone a considerable improvement with the development of remote work, which has actually gotten rid of geographical restraints on hiring. This has actually made it possible for organizations to recruit talent from all over the world, enabling them to put together the best possible group for each role. As a result, staff members have actually gotten greater flexibility to work from home and increase their incomes without needing to move to costly areas or commute long distances. According to a 2022 study, 87% of employees who have the option to work remotely choose to do so. The COVID-19 pandemic, integrated with developments in enterprise connectivity software, has even more sped up the shift towards remote work, even in industries that were initially hesitant to adopt 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 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 provided management and method to populations of more than 100,000 workers on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work throughout business man maning and building external relationships supporting Business clients and solutions and serving as an advisor I ‘d like to present our 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 stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal group and really work very closely with our um HR department too to handle numerous legal and HR matters that come up so truly excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our mission is to set you as HR professionals free to do terrific
Although Papaya Global supplies integrations with various HR and finance systems, we experienced some hurdles throughout the combination procedure. Personalizing the software application to line up with our existing facilities showed to be more complicated than prepared for, leading to hold-ups in the initial rollout.
The comprehensive functions used by Papaya Global come at a cost, which some of our smaller subsidiaries found to be prohibitively costly. As a global organization, we had to carefully weigh the need for innovative performance against spending plan constraints.
Assistance Response Time:
On occasion, our groups experienced problems that required immediate help. Nevertheless, the action time from Papaya Global’s customer support group was not constantly as prompt as we would have liked, resulting in delays in resolving those issues.
Our execution of included a phased method. We started by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This allowed us to determine and resolve combination difficulties early on. As the software application became more instilled in our operations, we gradually expanded its usage to cover our entire global workforce.
The automated features streamlined our payroll procedures, lowering the time invested in manual calculations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our teams end up being competent users of the software application, maximizing its potential for our organization.
Nevertheless, paying a labor force can be complicated. It is especially challenging for business who employ personnel across multiple nations, as they need to continuously consolidate different data streams, by hand track regional and national labor and guidelines, and spend important time and resources to establish local entities in brand-new locations. These business are faced with suboptimal, costly alternatives, like opening a foreign subsidiary or working with a professional employment organization, which is a local company that hires employees on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty hiring qualified personnel, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
uses a service supporting all types of employment. It supplies an end-to-end platform, from staff member onboarding and ongoing management to global payments and. It assists business with labor law compliance in the jurisdictions in which they operate, provides management of employment benefits, 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 technology gap in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to go to the complete webcast in order to get your credits if you have any questions throughout the webcast please click the Q&A tab in your webinar controls and type the there a brand-new tab will open in your web browser with the webcast survey please make 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 start a journey of information to policy achieving
360 degree worker compliance where we’ll dive into the necessary elements of the employee compliance management design throughout the session we’ll check out real world obstacles genuine regional regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to protect your organization and employees while remaining compliant in an
Ever evolving regulatory environment in the everchanging world of business and financing guaranteeing compliance with payroll guidelines is not just important but also a legal necessary from the moment of employing to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance dangers that have significant repercussions nevertheless with a much deeper more nuanced understanding of their obligations companies can not only navigate the intricate landscape but also proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools essential to browse the complex Terrain of compliance whether you’re a skilled P professional a small business owner or somebody new to the field what I want to do before we begin and I believe it’s actually essential
In our quest to boost efficiency and precision in handling our international labor force, our multinational corporation turned to, a leading and labor force management software application. The shift aimed to simplify the complex task of managing across different countries, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software automatically updates itself to abide by ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been invaluable in making sure that our procedures remain compliant in each nation of operation.
is to state that the content here is illegal suggestions it is just for your information please consult your legal team needs to you have any questions or issues in relation to anything that we have actually gone over today our key take key takeaways by the end of the webinar will be an understanding of staff member compliance threats how to work with ly with confidence how to streamline information management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we have actually.
work as your hris or is sort of your core employee record um to handle that worker life process throughout their Journey with you as as a staff member in addition to a payroll module we need to help you pay those staff members and compensate them and advantages Administration module that allows you to help handle the benefits you provide to your employees so actually thrilled to be here represent um bamb booy jar and discuss this subject um and I guess from my perspective I’ll I’ll probably provide a lot of a focus on the United States side of things when we speak about kind of compliance so delighted 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 everyone I’m Gina dorelis I’m the Employment professional supervisor.
at I manage the work Council in the United States APAC EMA and Israel region 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 offer payroll payments and workforce management as a Service work force supplier to employees serving in over.
160 nations okay thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were kind of like going through the introduction so it’s actually truly great to really see in the webinar chat where everybody’s actually attending from today I can see that we have people in Las Vegas and Indiana already so if you wish to carry on tell where you are that would be definitely great whilst we simply wait for everyone else to kind of like join in there we go Chicago as well well um so whil we’re doing that I’m awaiting everybody to sort of join I’ll simply run us through the agenda um today we are going to go over employing Skill new higher Details Management termination compliance and automation wow the chat has actually got truly actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is wonderful so uh I’m hoping that we’re really going to have some actually fantastic commentary and concerns throughout the uh the webinar also alright so that’s the agenda 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 Papaya Global User Already Logged On complex without fail and an.
Ever progressing relationship that begins the minute a person signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous essential stages whilst we’re really you know that they’re utilized with us so on boarding day-to-day operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the worker has left your employment throughout the journey companies are accountable for collecting keeping protecting employee information in compliance with information personal privacy policies no matter where it is you’re running worldwide it often involves implementing protected data management systems and making sure strict adherence to regional requirements to protect both the staff member and the organization the development of worker data and management c.