A CFO’s Perspective on Papaya Global Says No Pension Data To Export…
Papaya Global’s platform improves international labor force management for companies, ensuring compliance with local regulations and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and attendance tracking, and HR support. The platform centralizes international payroll operations, supplying companies with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of global business operations, handling payroll across borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of an international company, I comprehend the vital significance of efficient and compliant payroll management. In our pursuit of quality, we have welcomed innovative options to simplify our processes, and one such transformative tool is Software.
The Challenge of Global Payroll:
International growth causes varied difficulties, and payroll management is no exception. Differing tax guidelines, differing work laws, and several currencies make it vital for companies to adopt sophisticated services to ensure precision, compliance, and efficiency in payroll processing.
Software: A Comprehensive Service:
workers so it’s truly essential to ensure that you’ve considered from the outset any post-termination limitations that you wish to put into the contract of employment that they’re enforceable so that implies you need to actually think about what it is you’re aiming to protect and why clearly Define what’s included within the scope of that confidential information and deal with the period of limitation post-determination that you wish to use and be really able to to justify that in relation to intellectual property the position truly depends on the type of copyright you’re aiming to safeguard and likewise the jurisdiction so for instance from a copyright perspective in the Netherlands the end customer is more likely to have the um copyright rights in a copyright that the workers produced who’s been under their supervision and control immediately nevertheless in somewhere like Poland for instance that automated right might not exist and that assignment would need to flow through the chain uh contractually so it actually depends on the jurisdiction and the type of IP all right thank you Elizabeth Steve was remaining on the topic of contracts Miss classified misclassifying employees
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 positive effect of on our organization’s financial operations.
Unified Worldwide Payroll Processing:
allows our business to process payroll seamlessly across numerous countries. The platform’s unified approach enables constant payroll estimations, lowering errors and guaranteeing compliance with regional policies. This has actually considerably mitigated the threats related to international payroll processing.
likewise essential for if later on someone states misclassification you have your file supported by the requisite documents and that the right assessment tools to show someone that you had a thoughtful procedure and so what do you need to include in that process 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 kind of work that provides itself more to being an independent professional than a staff member so for example accounting
I.T crafting the creatives these all lend themselves more to that assessment of being freelancer you know also uh where are they doing it can they work from anywhere or do they have to be on website and handled once again another crucial factor is the management and guidance of the uh employee and then finally when is it a specific project is it a six-month project six years all of this is workable but it needs to be documented and it needs to be thoroughly um investigated so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out globally these tools take a survey list for the worker the worker submits and fills these concerns out therefore does completion client or the recipient of the services they both put their details into the tool and after that it does an evaluation waiting the various concerns since not every jurisdiction has the exact same sensation about a few of these concerns some believe 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 help you with that in regards to a few of the things you require to boost to make certain that you are given that examination of uh independent contractor or green where you were assessed as an as a independent contractor once that examination is done all the requisite files are beneath it so that if in the future there
Navigating the complexities of international work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our organization updated with changes in guidelines throughout jurisdictions. This guarantees that our payroll processes adhere to the latest standards, decreasing 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 also contact we need to when we see an unusual or or particularly intricate situations okay thanks Steve I can simply see a quick concern in the Q a window yes the session will be taped and sent to attendees afterwards um returning to to the webinar itself Ray employer of record is managed in a different way all over the world and the German law for example it’s classed as employee leasing can you shed any light on some of the unique considerations for countries and where the eor model isn’t managed yes Ian worker leasing or labor leasing as it’s also called which prevails in a number of countries especially in Europe imposes strict policies on items such as the length of project it likewise assigns employees to collective bargaining arrangements that gives them rights and benefits however even in the countries that do not have those rigorous policies for example the UK Canada and the nordics there are policies for each country and each worker is dealt with the same as all the other workers because country and all those policies need to be complied with all right thank you Ray um Kathy moving I would say to yourself what do business require to factor in when figuring out contract status to secure themselves and the rights of hires what are the advantages and disadvantages of working with contractors and Freelancers versus long-term workers so clearly the the advantage of professionals versus workers is the the versatility for both the employee and for the employer um however I can’t worry enough how important it is to have a constant thorough and a well-documented compliance
Papaya Global Says No Pension Data To Export and Time Savings:
The software’s automation capabilities have substantially decreased the time and effort needed for payroll processing. Handbook data entry and repetitive tasks have actually been decreased, allowing our finance group to concentrate on strategic initiatives instead of administrative concerns. This has actually resulted in increased effectiveness and efficiency within our monetary operations.
in one given that each state has its own regulations Californians are a few of the most strict an example is pay slips on a payslip in California the right details has to be on the payslip in the ideal format and in the right position if you remain in breach of of regulations for payslips the fines are provided per payslip so that’s each employee each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to fret to think of and we’re only two questions in and 10 minutes approximately working with in one country is difficult enough but when working with in a you understand on a global level it’s a totally different story you require to ensure that you’re up to date with existing as well as pending regional labor laws Steve um how do you make certain and guarantee 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 essential things we perform in most importantly you require to have the right group so we employ a team of global specialists in Employment Practices um that ex that group of specialists includes legal representatives it includes payroll experts it includes HR specialists and these are people that not only know the laws in these in these countries and regions however they likewise understand the languages they know the regional practices they understand the cultures and it is essential to have that ideal group and truly have the group 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 data is crucial for decision-making. The platform’s reporting capabilities empower me to make educated strategic choices based upon real-time insights into our international payroll information.
The practical application and level of the application to work law can be examined through the legal system using case law examples. For instance, the gotten rights regulation, also referred to as the 2p policies in the UK, and the working time policies have actually been subject to numerous legal analyses, especially concerning holiday pay. In addition, the principle of work status has actually seen multiple legal precedents over the
Scalability for Business Growth:
Among the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software seamlessly accommodates modifications in our labor force and payroll requirements. This scalability guarantees that our payroll infrastructure can adapt to the developing requirements of our worldwide company.
Global Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Gander who is our senior vice president of client services and I would state individually and jointly these 3 people have Years of experience in in employment law and international Employment Practices so thank you it’s a pleasure 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 among our own Stars delete 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 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 locations on an individual element and related to our subject today I have actually had the chance to relocate and operate in 3 different countries it is the company’s obligation to guarantee my defense while residing in a foreign country compliance with regional laws and regulations is crucial for me or anybody else as an expat or as a local so today we have invited our trusted Partners people 2.0 to show the significance of local
proficiency when companies Go Global thank you and delight 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 concerns you have actually been thinking about we’ll go over the truths a business requires to consider when opening a new entity and expanding into brand-new countries as well as keeping things going we’ll cover elements such as regional policies considerations when hiring compliance essential obstacles payments and what not to do it’s one of the most essential things remembering what not to do um operating on a global level is not for the faint-hearted the larger a business grows the more they need to comprehend and handle understanding what to do in each brand-new circumstance as it increases is necessary on numerous levels comprehending local guidelines and regional laws along with service practices assists alleviate Associated and worldwide expansion papaya through our local experts can browse potential threats such as intellectual property protection data privacy security issues ensuring the business’s operations remain compliant and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually shown to be an invaluable asset in our mission for effective and certified international payroll management. As the CFO of a global business, I am confident in recommending Papaya Global to organizations looking for to streamline their payroll procedures, improve compliance, and attain greater efficiency in managing their global workforce. The software’s ingenious features and dedication to excellence align with our tactical goals, making it an essential part of our financial operations.
publicly announced and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly revealed settlements there’s also significant legal costs there exists’s other penalties there’s other expenses behind that as well so the total expense can be very considerable in the tens of countless dollars or more and and those quantities are growing uh the reason that business are getting it so incorrect is really simply the guidelines are complex and they’re altering all the time think ir-35 in the UK which has been an ongoing advancement for several years now and and still a lot of uncertainty among companies on what it actually indicates and how you handle it most companies are simply not familiar with the rules and and act as if the the rules 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 category perspective all right thank you Stephen and returning to yourself Ray it’s not just the business that suffers in the long run what impacts can this have on the staff member Papaya Global Says No Pension Data To Export specifically when it concerns their own tax liabilities social security and advantages for instance jury and undoubtedly the employees the opposite of the coin
I discover time and time again the workers typically misclassified unwittingly they do not understand the conditions of employment or contract and are told by the customer why it’s optimum generally to the client why you need to be utilized or taken part in this style the employee might owe taxes and Social Security to the authorities the future pension and health care benefits of the employee can be affected and several times it can be years before this all falls out and by that time it’s far too late years have gone by they have not contributed to pensions And so on so it’s a big effect that they never understood they were strolling into you could not agree with you more if you state the UK for instance hmrc can return as much as 10 years um Kathy business are securing insurance versus misclassification however normally premiums are just covering the cost of legal fees whilst the typical claim examined against companies relates to to 40 or half of the base pay of employee is there any point in getting insurance coverage and what is the alternative yeah to your point um you do require to check out the fine print it is not covering the taxes penalty and interest in most cases 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 pack you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Says No Pension Data To Export …
The extensive functions of come at a cost,
Current decades have seen a remarkable change to the workforce as the increase of remote work has actually broken down geographical barriers to employing. Businesses can now employ staff from anywhere worldwide, allowing them to access the very best available talent for any given role. This offers employees more flexibility to work from home and increase their earnings without transferring to costly areas or commuting long distances. A 2022 survey discovered that 87% of employees who have the chance to work from another location take that chance. The outbreak of COVID-19, in conjunction with new enterprise connectivity software application, accelerated the transfer to remote work, consisting of in industries formerly reluctant to embrace the pattern.
insights are important to us and and your fellow guests 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 have actually had roles in all type of Industries retail and Beauty to Aerospace in all types of services start-up to matrixed environments across the globe I supplied leadership and strategy 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
Global I work throughout business guy maning and building external relationships supporting Business clients and solutions and functioning as a consultant I want to present our very first Greg um visitor Greg who will kick things off by telling us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal team and in fact work really closely with our um HR department also to handle different legal and HR matters that come up so truly thrilled to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our mission is to set you as HR experts complimentary to do excellent
Although Papaya Global provides integrations with various HR and financing systems, we experienced some hurdles during the integration procedure. Personalizing the software application to align with our existing facilities proved to be more complex than anticipated, leading to hold-ups in the initial rollout.
The comprehensive functions used by Papaya Global come at an expense, which some of our smaller sized subsidiaries discovered to be prohibitively pricey. As a global company, we had to thoroughly weigh the requirement for advanced functionality versus budget constraints.
Assistance Action Time:
On occasion, our teams experienced issues that needed immediate assistance. However, the reaction time from Papaya Global’s consumer assistance team was not always as prompt as we would have liked, resulting in hold-ups in fixing those issues.
Our application of involved a phased technique. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This permitted us to recognize and deal with integration obstacles early on. As the software ended up being more implanted in our operations, we gradually broadened its use to cover our whole international labor force.
The automated features streamlined our payroll procedures, lowering the time invested in manual estimations and compliance tracking. Routine training sessions and ongoing assistance from Papaya assisted our groups end up being skilled users of the software, maximizing its capacity for our organization.
Companies that staff member workers across numerous countries frequently deal with detailed obstacles when it concerns managing their workforce. Among the greatest hurdles is combining various data streams and sticking to diverse local and nationwide labor policies, which can be both lengthy and expensive. Furthermore, establishing regional entities in brand-new regions can be a pricey and suboptimal option, with options such as opening a foreign subsidiary or employing a professional employment organization (PEO) often charging up to 15% of the payroll. These challenges have resulted in a considerable boost in trouble recruiting qualified personnel, with 75% of companies reporting this issue in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
provides a solution supporting all types of employment. It provides an end-to-end platform, from employee onboarding and ongoing management to worldwide payments and. It assists business with labor law compliance in the jurisdictions in which they run, provides management of employment benefits, and guarantees data 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 workforce management. She co-founded after seeing the technology gap in global.
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 receive your credits if you have any questions throughout 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 internet browser with the webcast study please make certain to finish it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hey there and thank you for joining us today we’re thrilled to have you here as we start a journey of information to policy accomplishing
360 degree worker compliance where we’ll dive into the essential elements of the staff member compliance management design throughout the session we’ll check out real life obstacles real regional guidelines best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to secure your organization and employees while staying certified in an
Ever progressing regulatory environment in the everchanging world of business and finance making sure compliance with payroll regulations is not only crucial however also a legal necessary from the moment of employing to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance threats that have far-reaching effects however with a deeper more nuanced understanding of their commitments companies can not only browse the detailed landscape however likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to browse the complex Surface of compliance whether you’re a skilled P expert a small company owner or somebody new to the field what I would like to do before we start and I think it’s truly crucial
In our quest to improve effectiveness and precision in handling our global labor force, our international corporation turned to, a leading and workforce management software application. The transition aimed to streamline the complex task of handling throughout different nations, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software application automatically updates itself to follow ever-evolving tax and labor laws across numerous jurisdictions. This has been important in guaranteeing that our procedures stay certified in each nation of operation.
is to state that the content here is not legal recommendations it is merely for your details please consult your legal group should you have any questions or concerns 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 employee compliance dangers how to work with 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 sort of your core staff member record um to manage that employee life process throughout their Journey with you as as a worker in addition to a payroll module we have to help you pay those staff members and compensate them and benefits Administration module that allows you to assist handle the advantages you supply to your employees so actually thrilled to be here represent um bamb booy jar and talk about this subject um and I think from my viewpoint I’ll I’ll probably offer a great deal of a concentrate on the US side of things when we talk about type of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay global yes absolutely thank you Ian hi everybody I’m Gina dorelis I’m the Employment professional supervisor.
at I handle the employment Council in the US APAC EMA and Israel region I also work as us Council for I’m accredited in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and labor force management as a Service work force service provider to workers serving in over.
160 countries okay thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the introduction so it’s truly really nice to really see in the webinar chat where everyone’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 inform where you are that would be definitely wonderful whilst we simply await everyone else to type of like take part there we go Chicago too well um so whil we’re doing that I’m waiting on everyone to type of join I’ll simply run us through the program um today we are going to talk about hiring Talent new higher Info Management termination compliance and automation wow the chat has got actually really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is fantastic so uh I’m hoping that we’re really going to have some truly terrific commentary and questions throughout the uh the webinar as well all right so that’s the agenda then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their data is Papaya Global Says No Pension Data To Export complex without fail and an.
Ever developing relationship that starts the minute an individual signs up with 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 development then we get to the offboarding and even advocacy so it even takes place after the staff member has actually left your work throughout the journey companies are responsible for collecting storing securing employee data in compliance with information privacy policies no matter where it is you’re running worldwide it frequently includes implementing safe and secure information management systems and making sure stringent adherence to local requirements to secure both the worker and the company the development of worker information and management c.