Firdaus Azizi Papaya Global 2024 – All You Need To Know

A CFO’s Point of view on Firdaus Azizi Papaya Global…

Papaya Global’s platform enhances international workforce management for companies, making sure compliance with local policies and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes global payroll operations, providing businesses with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York, London, and Kiev.

In the dynamic landscape of international service operations, handling payroll throughout borders can be a complex and tough job. As the Chief Financial Officer (CFO) of an international business, I comprehend the crucial importance of effective and compliant payroll management. In our pursuit of quality, we have embraced ingenious services to streamline our procedures, and one such transformative tool is Software.

The Difficulty of Global Payroll:

Worldwide growth produces varied challenges, and payroll management is no exception. Differing tax guidelines, varying work laws, and multiple currencies make it vital for companies to embrace sophisticated solutions to ensure precision, compliance, and effectiveness in payroll processing.

Software application: A Comprehensive Solution:

It is essential to consider and include post-termination constraints in the employment contract to make sure enforceability. You should carefully identify what you are seeking to secure and plainly define the secret information that falls within its scope. Furthermore, define the duration of the post-termination restriction and be prepared to justify it in relation to copyright. The rules regarding intellectual property vary depending on the kind of IP and the jurisdiction. For example, in the Netherlands, the end customer is likely to have copyright rights over works produced by workers under their supervision, while in Poland, legal assignment might be essential.

Papaya Global Software has emerged as a game-changer in the realm of global payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, easy to use interface. As the CFO, I have seen firsthand the favorable impact of on our company’s financial operations.

Unified Worldwide Payroll Processing:
allows our company to procedure payroll effortlessly throughout numerous countries. The platform’s unified technique allows for constant payroll estimations, lowering errors and making sure compliance with local guidelines. This has actually considerably reduced the risks related to international payroll processing.

likewise crucial for if later somebody states misclassification you have your file supported by the requisite documents which the best assessment tools to show somebody that you had a thoughtful procedure and so 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 dealing with a specific or are you handling an individual 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 contractor than an employee so for instance accounting

I.T crafting the creatives these all lend themselves more to that examination of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they need to be on site and managed again another crucial factor is the management and supervision of the uh employee and after that finally when is it a specific task is it a six-month task 6 years all of this is workable however it has to be recorded and it needs to be completely 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 worldwide these tools take a survey list for the employee the worker completes and fills these concerns out therefore does the end customer or the recipient of the services they both put their info into the tool and after that it does an assessment waiting the various questions because not every jurisdiction has the same sensation about a few of these concerns some think they’re more vital than others and it brings out a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can most likely assist you with that in regards to a few of the important things you require to reinforce to ensure that you are considered that assessment of uh independent specialist or green where you were evaluated as an as a independent contractor once that assessment is done all the requisite documents are underneath it so that if later there

Automated Compliance:
Browsing the intricacies of worldwide employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in regulations throughout jurisdictions. This makes sure that our payroll procedures abide by the most recent requirements, reducing 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 approximately date and we also contact we require to when we see an unusual or or particularly intricate situations all right thanks Steve I can just see a quick concern in the Q a window yes the session will be recorded and sent to attendees later on um returning to to the webinar itself Ray company of record is regulated in a different way worldwide and the German law for example it’s classed as worker leasing can you shed any light on a few of the unique factors to consider for nations and where the eor design isn’t controlled yes Ian employee leasing or labor leasing as it’s likewise called which is prevalent in several countries specifically in Europe enforces stringent regulations on items such as the length of project it likewise assigns employees to collective bargaining arrangements that provides rights and benefits however even in the countries that don’t have those stringent guidelines for instance the UK Canada and the nordics there are policies for each country and each worker is treated the like all the other workers because country and all those policies require to be abided by alright thank you Ray um Kathy moving I would state to yourself what do companies need to factor in when determining agreement status to protect themselves and the rights of hires what are the benefits and drawbacks of working with professionals and Freelancers versus long-term staff members so undoubtedly the the benefit of professionals versus workers is the the flexibility for both the worker and for the company um but I can’t worry enough how essential it is to have a consistent thorough and a well-documented compliance

Performance

Firdaus Azizi Papaya Global and Time Savings:

The software application’s automation abilities have actually substantially reduced the time and effort needed for payroll processing. Manual data entry and recurring tasks have been minimized, enabling our financing group to concentrate on strategic efforts instead of administrative burdens. This has actually led to increased performance and performance 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 information has to be on the payslip in the best format and in the ideal 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 great thanks Ray thank you Elizabeth a lot to stress to consider and we’re just 2 concerns in and 10 minutes or so employing in one country is challenging enough but when employing in a you understand on a global level it’s an entirely different story you require to ensure that you depend on date with current along with pending regional labor laws Steve um how do you make sure and make sure that the people 2.0 group is on top of an ever-changing landscape and that your customers are totally supported and I’ll organize this into three key things we carry out in primarily you require to have the ideal group so we work with a group of international professionals in Work Practices um that ex that group of specialists includes attorneys it includes payroll experts it consists of HR professionals and these are individuals that not only understand the laws in these in these nations and regions however they likewise know the languages they understand the local practices they know the cultures and it’s important to have that right team and genuinely have the team on the ground uh working with cl

Real-time Analytics and Reporting:

Papaya Global offers extensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt monetary information is crucial for decision-making. The platform’s reporting abilities empower me to make educated tactical choices based upon real-time insights into our worldwide payroll data.

application and its scope and the way that it applies to work law in practice can be tested through the judicial system by way of case law examples of that would be the gotten rights directive otherwise known as the 2p guidelines in the UK the working time guidelines which has actually had numerous strands of that legislation checked particularly around vacation pay and obviously as Kathy’s going to come on to talk about later on work status which there’s been several precedence set over the years so I believe it’s actually that continuous development of the employment law landscape that you actually need to navigate when when operating in Europe all right thank you Elizabeth Ray what about you from your individual experience while crossing the pond as discussed each nation has various guidelines however the United States is basically 50 countries

Scalability for Service Growth:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software flawlessly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll facilities can adapt to the progressing requirements of our global organization.

Global Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Gander who is our senior vice president of client services and I would say separately and jointly these three individuals have Years of experience in in employment law and international Work 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 also have one of our own Stars erase share head of Global Provider at papaya International tell us about yourself thank you Elin Ian hi my name is Elite I have actually been with the business for around 4 and a half years as head of Collaborations I have developed Papaya’s network of in-country Partners in over 160 locations on an individual aspect and related to our subject today I have actually had the opportunity to move and operate in three various countries it is the company’s duty to ensure my security while residing in a foreign country compliance with local laws and regulations is important for me or anyone else as an expat or as a local so today we have invited our relied on Partners individuals 2.0 to show the importance of local

know-how when companies Go International thank you and take pleasure in alright thank you as I said let’s move on to the pact agenda today’s webinar is an opportunity to ask the panel the questions you’ve been considering we’ll go over the truths a business needs to think about when opening a new entity and expanding into brand-new countries along with keeping things going we’ll cover elements such as regional policies factors to consider when hiring compliance essential obstacles payments and what not to do it is among the most important things remembering what not to do um operating on a global level is not for the faint-hearted the bigger a company grows the more they need to comprehend and handle knowing what to do in each brand-new circumstance as it rises is important on lots of levels comprehending regional policies and local laws as well as service practices assists mitigate Associated and international growth papaya through our local professionals can browse possible risks such as intellectual property protection information privacy security concerns making sure the business’s operations stay compliant and safe and secure tax Social Security returns and remittances vary by country

In conclusion, Papaya Global Software application has actually shown to be a vital property in our mission for efficient and certified international payroll management. As the CFO of an international business, I am confident in suggesting Papaya Global to organizations seeking to improve their payroll procedures, enhance compliance, and attain higher effectiveness in managing their global workforce. The software’s ingenious features and commitment to quality align with our strategic goals, making it an integral part of our financial operations.

publicly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly announced settlements there’s likewise significant legal expenses there exists’s other charges there’s other expenses behind that as well so the total cost can be very substantial in the 10s of millions of dollars or more and and those quantities are growing uh the reason why business are getting it so wrong is really just the guidelines are complicated and they’re changing all the time think ir-35 in the UK which has actually been a continuous development for a number of years now and and still a great deal of unpredictability amongst companies on what it actually implies and how you deal with it most employers are merely not knowledgeable about the rules and and act as if the the guidelines are the same all over which they’re not so so motivate you to to be extremely proactive as you’re engaging uh employees from a classification point of view okay thank you Stephen and moving back to yourself Ray it’s not just the business that suffers in the long run what results can this have on the worker Firdaus Azizi Papaya Global particularly when it comes to their own tax liabilities social security and benefits for example jury and undoubtedly the employees the opposite of the coin

I discover time and time again the workers frequently misclassified unwittingly they do not understand the conditions of employment or agreement and are informed by the client why it’s most advantageous mainly to the client why you ought to be employed or engaged in this style the employee might owe taxes and Social Security to the authorities the future pension and healthcare 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 gone by they haven’t contributed to pensions And so on so it’s a huge impact that they never ever knew they were strolling into you couldn’t agree with you more if you state the UK for example hmrc can go back as much as ten years um Kathy companies are getting insurance coverage against misclassification but usually premiums are just covering the cost of legal charges whilst the typical claim evaluated against employers relates to to 40 or 50 percent of the base salary of employee exists any point in taking out insurance coverage and what is the alternative yeah to your point um you do need to check out the fine print it is not covering the taxes penalty and interest most of the times I have not seen it at least so uh the the other area that I do believe 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 protection on the basis of the reality that you were not in compliance with laws um in the UK

 

 

Cost Considerations and Firdaus Azizi Papaya Global …
The thorough features of come at an expense,

 

Over the past couple of decades, the workforce has actually gone through a significant improvement with the development of remote work, which has actually eliminated geographical constraints on hiring. This has made it possible for services to hire skill from all over the world, allowing them to assemble the very best possible team for each function. As a result, employees have acquired higher flexibility to work from home and increase their incomes without having to move to costly locations or commute long distances. According to a 2022 study, 87% of staff members who have the alternative to work remotely select to do so. The COVID-19 pandemic, combined with developments in enterprise connection software, has actually even more accelerated the shift towards remote work, even in industries that were at first hesitant to embrace the pattern.

insights are important to us and and your fellow participants 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 Charm to Aerospace in all kinds of organizations startup to matrixed environments around the world I offered leadership and strategy to populations of more than 100,000 staff members on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya

International I work across the business guy maning and developing external relationships supporting Enterprise customers and services and functioning as a consultant 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 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 really closely with our um HR department too to deal with numerous legal and HR matters that show up so truly delighted to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our objective is to set you as HR professionals totally free to do fantastic

Execution Barriers:
Although Papaya Global provides combinations with numerous HR and financing systems, we came across some difficulties throughout the combination process. Tailoring the software to line up with our existing facilities proved to be more complex than prepared for, leading to hold-ups in the preliminary rollout.

Rates Concerns:
The extensive functions used by Papaya Global come at an expense, which a few of our smaller sized subsidiaries found to be excessively expensive. As an international company, we needed to thoroughly weigh the need for advanced performance versus spending plan restraints.

Support Action Time:
On occasion, our groups experienced concerns that needed urgent help. Nevertheless, the reaction time from Papaya Global’s client support group was not constantly as prompt as we would have liked, leading to hold-ups in dealing with those concerns.

Our application of included a phased technique. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This enabled us to determine and address combination challenges early on. As the software 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. Regular training sessions and ongoing assistance from Papaya assisted our groups become competent users of the software, maximizing its capacity for our company.

However, paying a labor force can be intricate. It is especially challenging for business who employ staff throughout multiple nations, as they should continuously consolidate different data streams, manually track local and national labor and guidelines, and spend valuable time and resources to set up regional entities in new locations. These companies are faced with suboptimal, pricey choices, like opening a foreign subsidiary or employing 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 employers reported problem hiring certified personnel, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.

provides a service supporting all kinds of work. It provides an end-to-end platform, from employee onboarding and continuous management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they run, provides management of work advantages, and ensures 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 workforce management. She co-founded after seeing the technology space in worldwide.

papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to go to the complete webcast in order to get 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 brand-new tab will open in your web 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 discussion hi and thank you for joining us today we’re enjoyed have you here as we embark on a journey of information to guideline accomplishing

360 degree employee compliance where we’ll dive into the important elements of the employee compliance management model throughout the session we’ll explore real world challenges genuine local regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to safeguard your company and staff members while remaining compliant in an

Ever evolving regulatory environment in the everchanging world of company and financing guaranteeing compliance with payroll policies is not only important however likewise a legal important from the minute of hiring to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance dangers that have far-reaching consequences nevertheless with a much deeper more nuanced understanding of their obligations organizations can not only navigate the intricate landscape but also proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools necessary to navigate the complex Surface of compliance whether you’re a skilled P specialist a small company owner or somebody brand-new to the field what I wish to do before we begin and I believe it’s really essential

In our mission to improve effectiveness and precision in managing our worldwide workforce, our multinational corporation turned to, a leading and workforce management software application. The shift aimed to simplify the complex job of handling across different countries, currencies, and compliance policies.

The Great:

Compliance Management:
Among the standout features of is its robust compliance management system. The software immediately updates itself to follow ever-evolving tax and labor laws across several jurisdictions. This has been indispensable in making sure that our processes stay certified in each nation of operation.

is to state that the content here is not legal suggestions it is just for your details please consult your legal team should you have any questions or issues in relation to anything that we’ve gone over today our key take key takeaways by the end of the webinar will be an understanding of employee compliance risks how to work with ly with confidence how to streamline data management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we’ve.

work as your hris or is sort of your core employee record um to manage that staff member life cycle throughout their Journey with you as as a staff member in addition to a payroll module we need to help you pay those workers and compensate them and advantages Administration module that permits you to help handle the benefits you offer to your workers so really excited to be here represent um bamb booy container and speak about this subject um and I think from my perspective I’ll I’ll most likely provide a great deal of a focus on the US side of things when we discuss kind of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a little bit about papay worldwide yes definitely thank you Ian hi everyone I’m Gina dorelis I’m the Employment specialist manager.

at I handle the employment Council in the United States APAC EMA and Israel area I also act as us Council for I’m accredited in New york city and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and labor force management as a Service labor force service provider to workers serving in over.

160 countries alright thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were kind of like going through the intro so it’s actually truly good to really see in the webinar chat where everyone’s in fact going to 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 absolutely wonderful whilst we just await 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 sort of join I’ll simply run us through the program um today we are going to discuss working with Skill new greater Information Management termination compliance and automation wow the chat has got truly really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is great so uh I’m hoping that we’re actually going to have some truly terrific commentary and concerns throughout the uh the webinar too all right so that’s the agenda then what I want to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their information is Firdaus Azizi Papaya Global multifaceted without fail and an.

Ever evolving relationship that starts the minute an individual joins a company it continues throughout their employment and Beyond this journey can be divided into k to numerous key phases whilst we’re really you understand that they’re used with us so on boarding everyday operations payment and advantages professional advancement then we get to the offboarding and even advocacy so it even takes place after the employee has left your employment throughout the journey companies are accountable for gathering saving safeguarding employee information in compliance with information personal privacy guidelines no matter where it is you’re running all over the world it frequently involves executing secure data management systems and guaranteeing stringent adherence to local requirements to secure both the employee and the organization the development of employee data and management c.