A CFO’s Perspective on ◊Ó◊Ë◊®◊™ Papaya Global…
Papaya Global’s platform streamlines international workforce management for business, guaranteeing compliance with local policies and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes global payroll operations, supplying businesses with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of international company operations, managing payroll across borders can be a complex and tough job. As the Chief Financial Officer (CFO) of a global company, I understand the crucial significance of efficient and certified payroll management. In our pursuit of excellence, we have actually embraced innovative options to streamline our procedures, and one such transformative tool is Software application.
The Difficulty of Global Payroll:
Worldwide expansion causes diverse obstacles, and payroll management is no exception. Differing tax policies, differing work laws, and several currencies make it essential for organizations to adopt advanced options to ensure precision, compliance, and performance in payroll processing.
Software application: A Comprehensive Solution:
staff members so it’s really basic to ensure that you’ve thought about from the start any post-termination constraints that you want to take into the agreement of employment that they’re enforceable so that implies you need to actually think of what it is you’re wanting to protect and why plainly Specify what’s consisted of within the scope of that confidential information and resolve the period of restriction post-determination that you wish to apply and be truly able to to justify that in relation to intellectual property the position truly depends upon the kind of intellectual property you’re aiming to secure and also the jurisdiction so for instance from a copyright viewpoint in the Netherlands the end customer is most likely to have the um copyright rights in a copyright that the workers produced who’s been under their guidance and control immediately nevertheless in somewhere like Poland for instance that automated right might not be there which task would need to flow through the chain uh contractually so it really depends on the jurisdiction and the kind of IP fine thank you Elizabeth Steve was staying on the topic of agreements Miss categorized misclassifying staff members
Papaya Global Software application has actually become a game-changer in the realm of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, user-friendly user interface. As the CFO, I have actually seen firsthand the favorable effect of on our organization’s monetary operations.
Unified Global Payroll Processing:
allows our company to procedure payroll seamlessly throughout multiple nations. The platform’s unified method enables constant payroll computations, decreasing mistakes and guaranteeing compliance with regional regulations. This has actually significantly reduced the risks associated with worldwide payroll processing.
also crucial for if later on someone states misclassification you have your file supported by the requisite documents which the ideal evaluation tools to reveal somebody that you had a thoughtful procedure and so what do you have to consist of in that process it’s the who the what the where and the when who are you dealing with are you handling a specific or are you handling an individual Service Corporation and how are they operating what are they doing is it the kind of work that lends itself more to being an independent contractor than a worker so for example accounting
I.T crafting the creatives these all lend themselves more to that assessment 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 handled again another crucial factor is the management and supervision of the uh worker and after that lastly when is it a particular job is it a six-month job six years all of this is manageable however it has to be recorded and it has to be completely um examined so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out globally these tools take a survey list for the employee the worker completes and fills these questions out therefore does the end client or the recipient of the services they both put their details into the tool and then it does an examination waiting the various concerns since not every jurisdiction has the same sensation about a few of these concerns some think they’re more crucial than others and it comes out with a red yellow or green red you’re probably a worker yellow you’re on the cusp we can probably assist you with that in terms of some of the important things you require to bolster to ensure that you are considered that assessment of uh independent professional or green where you were evaluated as an as a independent specialist once that examination is done all the requisite files are underneath it so that if later there
Browsing the intricacies of worldwide employment laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our company updated with modifications in regulations across jurisdictions. This makes sure that our payroll processes stick to the latest requirements, decreasing the threat of non-compliance and associated charges.
network of In-House outside consultants accounting companies and legal firms who help us keep our databases completely as much as date and we also contact we require to when we see an uncommon or or especially intricate scenarios all right thanks Steve I can simply see a fast question in the Q a window yes the session will be taped and sent to guests later on um returning to to the webinar itself Ray company of record is controlled differently around the globe and the German law for example it’s classed as employee leasing can you shed any light on a few of the unique considerations for countries and where the eor model isn’t controlled yes Ian worker leasing or labor leasing as it’s also called which prevails in a number of countries especially in Europe imposes stringent regulations on items such as the length of assignment it likewise appoints employees to collective bargaining arrangements that provides rights and benefits but even in the nations that do not have those strict policies for example the UK Canada and the nordics there are guidelines for each country and each worker is dealt with the like all the other workers in that nation and all those guidelines require to be abided by okay thank you Ray um Kathy moving I would say to yourself what do business need to consider when determining agreement status to protect themselves and the rights of hires what are the advantages and disadvantages of working with contractors and Freelancers versus permanent employees so obviously the the advantage of specialists versus employees is the the versatility for both the worker and for the company um however I can’t worry enough how important it is to have a consistent comprehensive and a well-documented compliance
◊Ó◊Ë◊®◊™ Papaya Global and Time Cost Savings:
The software’s automation capabilities have actually substantially reduced the time and effort needed for payroll processing. Manual data entry and repetitive tasks have been minimized, enabling our finance team to concentrate on strategic initiatives rather than administrative problems. This has led to increased efficiency and efficiency within our monetary 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 best info has to be on the payslip in the best format and in the ideal position if you’re in breach of of regulations for payslips the fines are released per payslip so that’s each worker each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think about and we’re just 2 questions in and 10 minutes approximately working with in one nation is tough enough but when employing in a you know on a worldwide level it’s a totally different story you need to make sure that you depend on date with existing along with pending local labor laws Steve um how do you make certain and guarantee that the people 2.0 team is on top of an ever-changing landscape which your clients are completely supported and I’ll arrange this into three key things we do in primarily you require to have the right team so we employ a group of global experts in Employment Practices um that ex that team of professionals consists of legal representatives it consists of payroll professionals it includes HR experts and these are people that not just understand the laws in these in these countries and areas however they likewise know the languages they understand the regional practices they understand the cultures and it’s important to have that best group and genuinely have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies 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 informed tactical 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 evaluated 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 policies which has had different hairs of that legislation tested particularly around holiday pay and of course as Kathy’s going to come on to talk about later work status which there’s been several precedence set throughout the years so I think it’s truly that constant advancement of the work law landscape that you truly need to browse when when working in Europe fine thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each country has various guidelines but the United States is basically 50 countries
Scalability for Business Development:
Among the standout functions of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software perfectly accommodates modifications in our workforce and payroll requirements. This scalability makes sure that our payroll facilities can adapt to the progressing requirements of our global organization.
International Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Glimpse who is our senior vice president of customer service and I would state separately and jointly these 3 people have Decades of experience in in employment law and global Employment Practices so thank you it’s an enjoyment 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 also have among our own Stars delete share head of Global Provider at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business 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 areas on an individual element and related to our subject today I have actually had the opportunity to relocate and work in three various countries it is the company’s duty to guarantee my defense while living in a foreign country compliance with local laws and regulations is important for me or anybody else as an expat or as a regional so today we have actually invited our trusted Partners people 2.0 to show the importance of regional
knowledge when business Go Global thank you and take pleasure in fine thank you as I said let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the questions you have actually been thinking of we’ll talk about the realities a business requires to think about when opening a brand-new entity and expanding into brand-new countries in addition to keeping things going we’ll cover elements such as local guidelines factors to consider when employing compliance crucial challenges payments and what not to do it’s one of the most essential things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a company grows the more they require to understand and manage understanding what to do in each brand-new situation as it increases is essential on lots of levels understanding local regulations and local laws in addition to company practices helps reduce Associated and global growth papaya through our regional experts can browse prospective dangers such as copyright defense information privacy security problems making sure the company’s operations remain certified and safe tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has actually proven to be a vital asset in our mission for effective and certified global payroll management. As the CFO of a global business, I am confident in suggesting Papaya Global to companies seeking to improve their payroll processes, enhance compliance, and attain greater performance in handling their global labor force. The software’s ingenious functions and commitment to excellence align with our strategic goals, making it an integral part of our financial operations.
I discover time and time again the employees frequently misclassified unknowingly they do not comprehend the conditions of employment or contract and are told by the customer why it’s most advantageous mainly to the customer why you should be employed or participated in this fashion the worker might owe taxes and Social Security to the authorities the future pension and health care benefits of the employee can be impacted and numerous times it can be years before this all falls out and by that time it’s too late years have passed they haven’t contributed to pensions Etc so it’s a huge impact that they never ever understood they were walking into you couldn’t agree with you more if you state the UK for example hmrc can return as much as 10 years um Kathy companies are taking out insurance versus misclassification however generally premiums are only covering the expense of legal fees whilst the typical claim examined versus employers corresponds to to 40 or half of the base salary 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 penalty and interest for the most part I haven’t seen it at least so uh the the other area that I do believe if you managed to get the coverage what we are stating is is that if your compliance program is not up to stuff you could be denied protection on the basis of the fact that you were not in compliance with laws um in the UK
Cost Considerations and ◊Ó◊Ë◊®◊™ Papaya Global …
The extensive features of come at a cost,
Recent decades have actually seen a remarkable modification to the workforce as the increase of remote work has broken down geographical barriers to employing. Organizations can now employ staff from anywhere worldwide, allowing them to access the best available talent for any given function. This offers employees more liberty to work from home and increase their income without relocating to costly areas or travelling fars away. A 2022 survey discovered that 87% of staff members who have the chance to work from another location take that chance. The outbreak of COVID-19, in conjunction with brand-new business connection software, sped up the transfer to remote work, including in industries formerly hesitant to accept the pattern.
insights are important to us and and your fellow participants so first things first though um let’s learn more about everyone 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 Charm to Aerospace in all types of organizations startup to matrixed environments around the world I provided leadership and technique to populations of more than 100,000 staff members on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
International I work throughout business male maning and constructing external relationships supporting Business clients and services and functioning as a consultant I want to present our first Greg um guest Greg who will kick things off by telling us um who he is and a little 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 actually work really carefully with our um HR department as well to deal with various legal and HR matters that come up so truly delighted to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our objective is to set you as HR professionals complimentary to do excellent
While Papaya Global offers integrations with different HR and finance systems, the application procedure was not without challenges. Incorporating the software with our existing facilities needed extra personalization, leading to some delays in the initial rollout.
Paying FAQs ◊Ó◊Ë◊®◊™ Papaya Global 2024
and some smaller sized subsidiaries within our company discovered the rates to be on the higher side. As an international company, balancing the need for innovative functions with spending plan restrictions became a fragile exercise.
Customer Support Reaction Time:
There were circumstances where our teams dealt with problems that required timely support. Nevertheless, the reaction time from’s customer support team was not always as quick as preferred, causing occasional hold-ups in concern resolution.
Our application of included a phased approach. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This permitted us to determine and resolve combination difficulties early on. As the software application ended up being more ingrained in our operations, we slowly expanded its usage to cover our whole global labor force.
The automated features streamlined our payroll procedures, reducing the time invested in manual estimations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our teams end up being proficient users of the software, optimizing its potential for our company.
Business that employee workers across multiple countries typically face complex challenges when it concerns handling their labor force. Among the most significant obstacles is combining numerous data streams and sticking to diverse regional and national labor policies, which can be both lengthy and expensive. Moreover, setting up local entities in brand-new regions can be a pricey and suboptimal option, with alternatives such as opening a foreign subsidiary or working with an expert work company (PEO) typically charging up to 15% of the payroll. These obstacles have actually resulted in a substantial boost in trouble hiring qualified personnel, with 75% of employers reporting this concern in 2022, a 21% boost from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
provides a service supporting all kinds of employment. It offers an end-to-end platform, from staff member onboarding and ongoing management to international payments and. It helps business with labor law compliance in the jurisdictions in which they run, provides management of work 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 professional in payroll and labor force management. She co-founded after seeing the technology space in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to attend the total webcast in order to receive your credits if you have any questions 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 browser with the webcast survey please be 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 discussion hi and thank you for joining us today we’re enjoyed have you here as we embark on a journey of data to guideline attaining
360 degree staff member compliance where we’ll dive into the essential elements of the employee compliance management design throughout the session we’ll explore real world obstacles real regional regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to protect your company and employees while staying certified in an
Ever evolving regulatory environment in the everchanging world of company and financing ensuring compliance with payroll guidelines is not just crucial however likewise a legal vital from the minute of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance dangers that have far-reaching repercussions nevertheless with a deeper more nuanced understanding of their obligations companies can not only navigate the elaborate landscape but also proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools required to navigate the complex Terrain of compliance whether you’re a skilled P expert a small business owner or somebody new to the field what I would like to do before we start and I think it’s truly essential
In our mission to enhance performance and precision in managing our global workforce, our international corporation turned to, a leading and labor force management software application. The transition aimed to simplify the complex task of managing across numerous nations, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software automatically updates itself to comply with ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been invaluable in guaranteeing that our procedures remain compliant 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 group should you have any concerns or issues in relation to anything that we have actually talked about today our key take key takeaways by the end of the webinar will be an understanding of employee compliance threats how to hire ly with confidence how to streamline data management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.
function as your hris or is sort of your core employee record um to manage that worker life process throughout their Journey with you as as a staff member in addition to a payroll module we have to assist you pay those employees and compensate them and advantages Administration module that allows you to help manage the advantages you provide to your workers so truly thrilled to be here represent um bamb booy container and discuss this topic 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 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 introduce yourself and tell the audience a little bit about papay global yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Employment professional manager.
at I manage the employment Council in the United States APAC EMA and Israel area I likewise function as us Council for I’m licensed in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and labor force management as a Service work force service provider to employees serving in over.
160 countries alright thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were kind of like going through the introduction so it’s actually truly nice to in fact see in the webinar chat where everyone’s really participating in from today I can see that we have individuals in Las Vegas and Indiana currently so if you wish to carry on tell where you are that would be definitely wonderful whilst we simply await everybody else to type of like take part there we go Chicago also well um so whil we’re doing that I’m waiting for everyone to kind of join I’ll just run us through the agenda um today we are going to go over working with Talent new higher Information Management termination compliance and automation wow the chat has actually got actually actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is wonderful so uh I’m hoping that we’re actually going to have some truly fantastic commentary and questions throughout the uh the webinar as well alright 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 an employee and their information is ◊Ó◊Ë◊®◊™ Papaya Global multifaceted without fail and an.
Ever evolving relationship that begins the moment an individual signs up with an organization it continues throughout their work and Beyond this journey can be divided into k to numerous essential stages whilst we’re really you know that they’re employed with us so on boarding day-to-day operations payment and advantages professional development then we get to the offboarding and even advocacy so it even occurs after the employee has left your employment throughout the journey companies are accountable for collecting keeping safeguarding staff member information in compliance with information privacy guidelines no matter where it is you’re operating worldwide it typically involves executing secure information management systems and making sure stringent adherence to regional requirements to protect both the employee and the organization the development of staff member information and management c.