A CFO’s Point of view on Papaya Global Payroll Services Phone Number…
The platform enables companies to handle their worldwide labor force and abide by local employment policies and tax laws. Papaya Global uses a series of services, including payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is designed to streamline the intricacies of international payroll and provide real-time exposure and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New York, London, and Kiev.
In the vibrant landscape of worldwide business operations, managing payroll throughout borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a worldwide business, I understand the crucial importance of effective and certified payroll management. In our pursuit of quality, we have welcomed ingenious options to streamline our procedures, and one such transformative tool is Software application.
The Difficulty of Worldwide Payroll:
International growth causes varied difficulties, and payroll management is no exception. Differing tax regulations, varying employment laws, and multiple currencies make it essential for companies to embrace advanced solutions to guarantee precision, compliance, and performance in payroll processing.
Software: A Comprehensive Option:
workers so it’s actually essential to guarantee that you’ve considered from the beginning any post-termination limitations that you want to take into the agreement of employment that they’re enforceable so that suggests you need to truly think of what it is you’re looking to protect and why clearly Define what’s included within the scope of that secret information and attend to the period of limitation post-determination that you want to apply and be actually able to to justify that in relation to intellectual property the position really depends upon the kind of copyright you’re wanting to secure and also the jurisdiction so for instance from a copyright perspective in the Netherlands the end client is more likely to have the um intellectual property rights in a copyright that the workers produced who’s been under their guidance and control instantly nevertheless in somewhere like Poland for instance that automated right might not exist which project would need to flow through the chain uh contractually so it truly depends on the jurisdiction and the type of IP all right thank you Elizabeth Steve was remaining on the subject of contracts Miss categorized misclassifying staff members
Papaya Global Software application has become a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, easy to use user interface. As the CFO, I have experienced firsthand the favorable impact of on our organization’s monetary operations.
Unified Global Payroll Processing:
enables our business to procedure payroll flawlessly across several countries. The platform’s unified approach enables constant payroll estimations, lowering mistakes and guaranteeing compliance with local guidelines. This has significantly reduced the threats associated with global payroll processing.
also essential for if in the future somebody says misclassification you have your file supported by the requisite files which the right assessment tools to reveal somebody that you had a thoughtful process and so what do you need to consist of because 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 provides itself more to being an independent contractor than a worker so for instance 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 website and managed once again another essential factor is the management and guidance of the uh worker and then finally when is it a particular project is it a six-month job six years all of this is workable but it needs to be documented and it needs to be thoroughly um examined so we have a tool we call it ic2 we had an ic1 and we have actually improved it this year so that we can roll it out globally these tools take a questionnaire list for the employee the employee fills out and fills these questions out and so does completion customer or the recipient of the services they both put their info into the tool and after that it does an evaluation waiting the different questions since not every jurisdiction has the exact same feeling about some of these questions some think they’re more crucial than others and it comes out with a red yellow or green red you’re probably a staff member yellow you’re on the cusp we can probably assist you with that in regards to some of the things you require to strengthen to make sure that you are given that assessment of uh independent contractor or green where you were assessed as an as a independent specialist once that assessment is done all the requisite documents are beneath it so that if later on there
Browsing the complexities of worldwide work laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in guidelines throughout jurisdictions. This makes sure that our payroll procedures comply with the most recent requirements, reducing the danger of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal companies who assist us keep our databases entirely as much as date and we also get in touch with we require to when we see an uncommon or or particularly complex scenarios fine thanks Steve I can simply see a fast question in the Q a window yes the session will be taped and sent to attendees later on um moving back to to the webinar itself Ray company of record is regulated in a different way worldwide and the German law for example it’s classified as employee leasing can you shed any light on some of the unique considerations for nations and where the eor design isn’t managed yes Ian worker leasing or labor leasing as it’s also called which is prevalent in numerous nations especially in Europe imposes stringent regulations on products such as the length of project it also assigns workers to collective bargaining agreements that provides rights and advantages but even in the nations that do not have those stringent policies for instance the UK Canada and the nordics there are policies for each nation and each employee is dealt with the like all the other workers in that country and all those guidelines require to be followed fine thank you Ray um Kathy moving I would state to yourself what do business require to factor in when identifying agreement status to protect themselves and the rights of hires what are the benefits and drawbacks of hiring specialists and Freelancers versus irreversible workers so undoubtedly the the benefit of professionals versus staff members is the the versatility for both the worker and for the company um but I can’t worry enough how crucial it is to have a constant thorough and a well-documented compliance
Papaya Global Payroll Services Phone Number and Time Savings:
The software application’s automation capabilities have actually considerably lowered the time and effort needed for payroll processing. Handbook information entry and recurring jobs have actually been lessened, allowing our financing group to concentrate on strategic initiatives rather than administrative concerns. This has actually led to increased efficiency and productivity within our monetary operations.
in one since each state has its own regulations Californians are a few of the most rigorous an example is pay slips on a payslip in California the best info needs to be on the payslip in the ideal format and in the right position if you remain in breach of of policies for payslips the fines are issued per payslip so that’s each staff member each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to fret to think of and we’re just two concerns in and 10 minutes or two hiring in one country is hard enough however when hiring in a you understand on a global level it’s an entirely various story you need to ensure that you’re up to date with present along with pending regional labor laws Steve um how do you make certain and guarantee that individuals 2.0 group is on top of an ever-changing landscape and that your clients are fully supported and I’ll organize this into three essential things we do in first and foremost you require to have the ideal team so we hire a group of international professionals in Work Practices um that ex that team of specialists includes lawyers it consists of payroll specialists it consists of HR experts and these are people that not only know the laws in these in these nations and regions however they also know the languages they understand the regional practices they know the cultures and it is very important to have that right team and really have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers comprehensive real-time analytics and reporting tools. As a CFO, having access to accurate and timely financial information is crucial for decision-making. The platform’s reporting capabilities empower me to make educated tactical choices based upon real-time insights into our global payroll information.
application and its scope and the manner in which it applies to work 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 called the 2p regulations in the UK the working time regulations which has had numerous strands of that legislation evaluated particularly around holiday pay and obviously as Kathy’s going to come on to speak about later on employment status which there’s been multiple precedence set over the years so I think it’s actually that continuous evolution of the work law landscape that you actually require to browse when when operating in Europe alright thank you Elizabeth Ray what about you from your individual experience while crossing the pond as discussed each nation has different guidelines however the United States is essentially 50 countries
Scalability for Service Growth:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into brand-new markets, the software application flawlessly accommodates changes in our labor force and payroll requirements. This scalability guarantees that our payroll facilities can adapt to the developing needs of our international organization.
Global Chief legal officer we have actually 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 say individually and collectively these three individuals have Years of experience in in work law and international Employment Practices so thank you it’s a satisfaction 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 Services at papaya Global inform us about yourself thank you Elin Ian hello my name is Elite I have actually been with the company for around four and a half years as head of Partnerships I have developed Papaya’s network of in-country Partners in over 160 places on a personal aspect and related to our subject today I have actually had the opportunity to transfer and operate in 3 different nations it is the company’s obligation to guarantee my security while living in a foreign nation compliance with regional laws and policies is crucial for me or anybody else as an expat or as a regional so today we have actually invited our relied on Partners individuals 2.0 to demonstrate the importance of local
competence when companies Go Global thank you and enjoy fine thank you as I said let’s move on to the pact program today’s webinar is a chance to ask the panel the concerns you have actually been thinking of we’ll discuss the realities a company requires to think about when opening a new entity and expanding into brand-new countries along with keeping things going we’ll cover aspects such as local regulations factors to consider when working with compliance key challenges payments and what not to do it’s one of the most important things remembering what not to do um operating on an international 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 new scenario as it increases is important on numerous levels comprehending regional policies and local laws in addition to service practices assists reduce Associated and worldwide growth papaya through our regional specialists can navigate potential threats such as copyright security information personal privacy security issues guaranteeing the company’s operations remain compliant and safe tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software has actually proven to be a vital possession in our quest for effective and compliant worldwide payroll management. As the CFO of a global business, I am confident in recommending Papaya Global to companies looking for to improve their payroll processes, enhance compliance, and attain higher performance in managing their global labor force. The software’s innovative features and commitment to quality line up with our strategic objectives, making it an essential part of our monetary operations.
openly 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 also considerable legal expenses there’s there’s other charges there’s other costs behind that as well so the overall expense can be very considerable in the tens of millions of dollars or more and and those quantities are growing uh the reason business are getting it so incorrect is really simply the guidelines are intricate and they’re altering all the time think ir-35 in the UK which has actually been a continuous development for several years now and and still a great deal of unpredictability amongst business on what it really suggests and how you handle 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 encourage you to to be extremely proactive as you’re engaging uh workers from a classification perspective fine thank you Stephen and returning to yourself Ray it’s not just the business that suffers in the long run what results can this have on the worker Papaya Global Payroll Services Phone Number particularly when it comes to their own tax liabilities social security and benefits for instance jury and certainly the employees the opposite of the coin
I find time and time again the workers typically misclassified unwittingly they don’t understand the conditions of employment or agreement and are told by the customer why it’s most advantageous generally to the client why you need to be used or participated in this style the worker may owe taxes and Social Security to the authorities the future pension and health care benefits of the employee can be impacted and several times it can be years before this all falls out and by that time it’s too late years have passed they have not contributed to pensions And so on so it’s a big impact that they never ever understood they were walking into you couldn’t agree with you more if you say the UK for example hmrc can return as much as 10 years um Kathy business are securing insurance coverage versus misclassification but generally premiums are just covering the expense of legal charges whilst the average claim assessed versus companies corresponds to to 40 or half of the base salary of employee is there any point in securing insurance and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes penalty and interest in many cases I have not seen it a minimum of so uh the the other area that I do think if you managed to get the coverage what we are stating is is that if your compliance program is not up to stuff you could be rejected coverage on the basis of the fact that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Payroll Services Phone Number …
The detailed functions of come at a cost,
Current decades have seen a remarkable modification to the labor force as the increase of remote work has actually broken down geographical barriers to hiring. Businesses can now hire staff from anywhere worldwide, allowing them to access the best offered talent for any offered function. This offers employees more liberty to work from home and increase their income without transferring to expensive areas or commuting cross countries. A 2022 study discovered that 87% of workers who have the possibility to work remotely take that opportunity. The break out of COVID-19, in conjunction with brand-new enterprise connectivity software application, sped up the transfer to remote work, consisting of in industries previously hesitant to welcome the pattern.
insights are important to us and and your fellow attendees so first things initially 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’ve had functions in all kind of Industries retail and Appeal 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 workers on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout the business man maning and building external relationships supporting Enterprise customers and solutions and acting as an advisor I want to present our first Greg um visitor Greg who will kick things off by informing us um who he is and a little 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 corporate counsil at bambo HR so I lead our in-house legal group and actually work very carefully with our um HR department as well to deal with different legal and HR matters that come up so actually thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our mission is to set you as HR specialists free to do terrific
Although Papaya Global supplies integrations with various HR and finance systems, we came across some hurdles during the combination process. Tailoring the software to align with our existing infrastructure proved to be more complex than prepared for, leading to delays in the initial rollout.
The comprehensive features offered by Papaya Global come at a cost, which some of our smaller sized subsidiaries found to be prohibitively pricey. As an international organization, we needed to carefully weigh the requirement for innovative functionality against budget restraints.
Assistance Response Time:
On occasion, our groups experienced concerns that needed urgent help. Nevertheless, the action time from Papaya Global’s client assistance group was not constantly as timely as we would have liked, leading to delays in dealing with those issues.
Our application of included a phased technique. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This permitted us to recognize and resolve integration difficulties early on. As the software application became more instilled in our operations, we slowly broadened its usage to cover our entire global workforce.
The automated functions structured our payroll processes, minimizing the time invested in manual estimations and compliance tracking. Routine training sessions and continuous support from Papaya assisted our teams become competent users of the software, maximizing its capacity for our company.
Nevertheless, paying a workforce can be complex. It is particularly challenging for business who use staff throughout numerous countries, as they should constantly combine different information streams, manually track regional and national labor and policies, and spend valuable time and resources to set up local entities in new areas. These companies are faced with suboptimal, costly choices, like opening a foreign subsidiary or working with a professional work organization, which is a regional firm that works with staff members on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble recruiting certified personnel, an increase of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
uses a service supporting all types of work. It supplies an end-to-end platform, from worker onboarding and continuous management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, uses management of work advantages, and guarantees information privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading professional in payroll and labor force management. She co-founded after seeing the technology gap in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to go to the complete webcast in order to receive your credits if you have any concerns 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 browser with the webcast survey please be sure to complete it as soon 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 thrilled to have you here as we embark on a journey of data to regulation achieving
360 degree employee compliance where we’ll dive into the vital elements of the employee compliance management design throughout the session we’ll check out real life challenges genuine regional policies best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your company and workers while remaining certified in an
Ever developing regulatory environment in the everchanging world of company and finance making sure compliance with payroll policies is not only vital but also a legal crucial from the minute of employing to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance dangers that have significant consequences however with a much deeper more nuanced understanding of their obligations organizations can not just navigate the intricate landscape however also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools essential to navigate the complex Terrain of compliance whether you’re an experienced P expert a small business owner or somebody brand-new to the field what I want to do before we begin and I think it’s truly crucial
In our mission to boost efficiency and accuracy in managing our global labor force, our international corporation turned to, a leading and workforce management software application. The shift intended to streamline the complex job of managing throughout various countries, currencies, and compliance guidelines.
One of the standout functions of is its robust compliance management system. The software instantly updates itself to comply with ever-evolving tax and labor laws throughout several jurisdictions. This has been important 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 simply for your info please consult your legal group must you have any questions or concerns in relation to anything that we’ve talked about today our key take crucial takeaways by the end of the webinar will be an understanding of worker compliance threats how to employ ly with self-confidence how to simplify data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
function as your hris or is type of your core staff member record um to manage that staff member 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 staff members and compensate them and benefits Administration module that enables you to assist handle the benefits you provide to your employees so really thrilled to be here represent um bamb booy jar and speak about this subject um and I think from my viewpoint I’ll I’ll most likely offer a lot of a focus on the US side of things when we talk about type of compliance so happy to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a bit about papay worldwide yes definitely thank you Ian hi everybody I’m Gina dorelis I’m the Work specialist manager.
at I handle the employment Council in the US APAC EMA and Israel area I also act as us Council for I’m certified in New York and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and workforce management as a Service work force company to workers serving in over.
160 nations alright thank you so both I feel entirely 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 truly truly nice to actually see in the webinar chat where everyone’s really going to from today I can see that we have individuals in Las Vegas and Indiana currently so if you wish to continue inform where you are that would be absolutely wonderful whilst we simply wait on everybody else to type of like participate there we go Chicago as well well um so whil we’re doing that I’m waiting on everybody to kind of join I’ll simply run us through the agenda um today we are going to discuss employing Skill brand-new higher Information Management termination compliance and automation wow the chat has actually got actually really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over which is wonderful so uh I’m hoping that we’re actually going to have some truly great commentary and concerns throughout the uh the webinar too fine so that’s the program then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of an employee and their information is Papaya Global Payroll Services Phone Number complex without fail and an.
Ever developing relationship that starts the minute a person joins a company it continues throughout their work and Beyond this journey can be divided into k to several key stages whilst we’re actually you know that they’re utilized with us so on boarding day-to-day operations compensation and benefits expert development then we get to the offboarding and even advocacy so it even occurs after the employee has actually left your work throughout the journey companies are responsible for collecting storing safeguarding employee information in compliance with information personal privacy policies no matter where it is you’re running all over the world it often includes implementing safe and secure data management systems and guaranteeing strict adherence to regional requirements to safeguard both the staff member and the company the advancement of worker data and management c.