Papaya Global Web Chat 2024 – All You Need To Know

A CFO’s Point of view on Papaya Global Web Chat…

Papaya Global’s platform enhances worldwide labor force management for companies, making sure compliance with regional regulations and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and attendance tracking, and HR assistance. The platform centralizes worldwide payroll operations, supplying services with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York City, London, and Kiev.

In the dynamic landscape of worldwide service operations, managing payroll throughout borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of a global business, I understand the crucial importance of effective and compliant payroll management. In our pursuit of excellence, we have actually welcomed innovative options to improve our procedures, and one such transformative tool is Software application.

The Challenge of Global Payroll:

Worldwide growth causes varied difficulties, and payroll management is no exception. Differing tax guidelines, differing employment laws, and several currencies make it crucial for companies to embrace advanced services to make sure accuracy, compliance, and efficiency in payroll processing.

Software application: A Comprehensive Option:

It is important to consider and include post-termination limitations in the employment contract to ensure enforceability. You need to carefully identify what you are looking for to protect and plainly define the confidential information that falls within its scope. Additionally, define the period of the post-termination restriction and be prepared to justify it in relation to copyright. The rules regarding intellectual property vary depending on the type of IP and the jurisdiction. For instance, in the Netherlands, the end customer is likely to have copyright rights over works produced by employees under their supervision, while in Poland, legal project might be required.

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

Unified Worldwide Payroll Processing:
enables our business to procedure payroll seamlessly across several nations. The platform’s unified technique permits consistent payroll estimations, decreasing mistakes and making sure compliance with local policies. This has actually significantly alleviated the risks associated with worldwide payroll processing.

also key for if later somebody states misclassification you have your file supported by the requisite files and that the ideal examination tools to show someone that you had a thoughtful process and so what do you have to consist of because procedure it’s the who the what the where and the when who are you dealing with are you dealing with an individual or are you dealing with an individual Service Corporation and how are they running what are they doing is it the type of work that provides itself more to being an independent professional than a staff member so for instance accounting

I.T crafting the creatives these all provide themselves more to that assessment of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they have to be on site and handled again another key aspect is the management and guidance of the uh employee and then lastly when is it a particular task is it a six-month task 6 years all of this is manageable but it needs to be documented and it needs to be completely um examined so we have a tool we call it ic2 we had an ic1 and we have actually enhanced it this year so that we can roll it out worldwide these tools take a questionnaire list for the worker the worker completes and fills these concerns out therefore does the end customer or the recipient of the services they both put their details into the tool and then it does an assessment waiting the various questions due to the fact that not every jurisdiction has the very same sensation about some of these concerns some think they’re more important 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 terms of some of the important things you require to strengthen to ensure that you are considered that evaluation of uh independent contractor or green where you were assessed as an as a independent specialist once that examination is done all the requisite files are underneath it so that if later on there

Automated Compliance:
Navigating the intricacies of international employment laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our company updated with changes in policies throughout jurisdictions. This makes sure that our payroll processes stick to the latest standards, decreasing the danger of non-compliance and associated charges.

network of In-House outside consultants accounting companies and legal companies who help us keep our databases totally approximately date and we likewise contact we need to when we see an uncommon or or especially complex circumstances okay thanks Steve I can just see a quick concern in the Q a window yes the session will be recorded and sent out to participants afterwards um returning to to the webinar itself Ray employer of record is managed in a different way around the world and the German law for instance it’s classified as staff member leasing can you shed any light on a few of the unique factors to consider for countries and where the eor design isn’t regulated yes Ian staff member leasing or labor leasing as it’s also called which is prevalent in a number of nations particularly in Europe enforces stringent guidelines on products such as the length of project it likewise appoints workers to collective bargaining contracts that gives them rights and advantages but even in the countries that don’t have those stringent regulations for example the UK Canada and the nordics there are regulations for each country and each worker is dealt with the like all the other workers in that country and all those guidelines need to be followed fine thank you Ray um Kathy moving I would state to yourself what do companies require to consider when identifying contract status to safeguard themselves and the rights of hires what are the advantages and disadvantages of employing contractors and Freelancers versus long-term employees so clearly the the benefit of contractors versus staff members is the the flexibility for both the worker and for the company um but I can’t stress enough how essential it is to have a constant comprehensive and a well-documented compliance

Performance

Papaya Global Web Chat and Time Savings:

The software application’s automation abilities have substantially lowered the time and effort required for payroll processing. Manual information entry and recurring jobs have actually been reduced, allowing our financing team to focus on tactical initiatives instead of administrative burdens. This has resulted in increased efficiency and productivity within our financial operations.

in one given that each state has its own guidelines Californians are a few of the most rigorous an example is pay slips on a payslip in California the best details needs to be on the payslip in the ideal format and in the ideal position if you’re in breach of of policies for payslips the fines are provided per payslip so that’s each worker each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to fret to think of and we’re only two concerns in and 10 minutes or two working with in one country is challenging enough but when employing in a you know on an international level it’s an entirely various story you require to make sure that you depend on date with current as well as pending local labor laws Steve um how do you make certain and guarantee that individuals 2.0 group is on top of an ever-changing landscape which your customers are completely supported and I’ll organize this into 3 key things we do in first and foremost you require to have the best group so we employ a group of international specialists in Employment Practices um that ex that group of professionals includes legal representatives it consists of payroll professionals it includes HR professionals and these are individuals that not just know the laws in these in these nations and regions but they also know the languages they understand the local 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 provides comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt financial data is essential for decision-making. The platform’s reporting capabilities empower me to make educated tactical choices based upon real-time insights into our global payroll data.

The practical application and level of the application to employment law can be assessed through the legal system utilizing case law examples. For example, the gotten rights directive, likewise called the 2p guidelines in the UK, and the working time regulations have gone through various legal interpretations, particularly concerning holiday pay. Furthermore, the principle of work status has seen numerous legal precedents over the

Scalability for Organization Growth:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and expand into brand-new markets, the software application effortlessly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll facilities can adjust to the developing requirements of our worldwide organization.

International Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Gander who is our senior vice president of client services and I would state individually and jointly these 3 individuals have Decades of experience in in work law and global Employment Practices so thank you it’s a satisfaction to be with everybody here today seems 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 delete share head of Global Services at papaya Worldwide inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the company 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 transfer and operate in 3 various countries it is the company’s obligation to guarantee my security while residing in a foreign country compliance with local laws and guidelines is important for me or anybody else as an expat or as a regional so today we have actually welcomed our trusted Partners individuals 2.0 to demonstrate the significance of regional

competence when companies Go Global thank you and enjoy all right thank you as I said let’s carry on to the pact agenda today’s webinar is an opportunity to ask the panel the questions you’ve been thinking of we’ll go over the realities a company requires to consider when opening a brand-new entity and expanding into brand-new countries as well as keeping things going we’ll cover elements such as local policies considerations when working with 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 larger a company grows the more they require to understand and manage knowing what to do in each new circumstance as it rises is very important on lots of levels comprehending local guidelines and local laws as well as company practices helps alleviate Associated and global growth papaya through our regional specialists can navigate prospective dangers such as copyright protection information personal privacy security issues making sure the business’s operations stay compliant and secure tax Social Security returns and remittances differ by nation

In conclusion, Papaya Global Software application has actually proven to be a vital property in our mission for effective and certified worldwide payroll management. As the CFO of a global company, I am confident in recommending Papaya Global to organizations looking for to simplify their payroll processes, enhance compliance, and attain higher efficiency in managing their worldwide workforce. The software application’s ingenious features and commitment to excellence line up with our strategic objectives, making it an integral part of our monetary 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 announced settlements there’s also considerable legal costs there’s there’s other penalties there’s other expenses behind that as well so the overall expense can be really substantial in the 10s of countless dollars or more and and those amounts are growing uh the reason that companies are getting it so wrong is actually simply the rules are complicated and they’re altering all the time believe ir-35 in the UK which has actually been a continuous advancement for several years now and and still a lot of uncertainty amongst business on what it actually suggests and how you handle it most employers are merely not familiar with the guidelines and and act as if the the rules are the same all over which they’re not so so encourage you to to be extremely proactive as you’re engaging uh employees from a category point of view all right thank you Stephen and returning to yourself Ray it’s not just the company that suffers in the long run what effects can this have on the employee Papaya Global Web Chat especially when it pertains to their own tax liabilities social security and benefits for example jury and undoubtedly the employees the opposite of the coin

I find time and time again the workers often misclassified unconsciously they don’t understand the conditions of work or contract and are informed by the client why it’s most advantageous primarily to the customer why you must be employed or engaged in this style the worker might owe taxes and Social Security to the authorities the future pension and healthcare privileges of the worker can be affected and numerous times it can be years before this all falls out and by that time it’s too late years have actually passed they haven’t 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 state the UK for instance hmrc can return as much as ten years um Kathy business are securing insurance versus misclassification however usually premiums are just covering the expense of legal charges whilst the average claim examined against employers equates to to 40 or 50 percent of the base salary of employee is there any point in taking out insurance coverage and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes penalty and interest in many cases I haven’t seen it a minimum of so uh the the other area that I do believe if you managed to get the protection what we are saying is is that if your compliance program is not up to stuff 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 Papaya Global Web Chat …
The detailed features of come at an expense,

 

Current decades have seen a significant modification to the workforce as the rise of remote work has actually broken down geographical barriers to employing. Services can now work with personnel from anywhere worldwide, enabling them to access the best offered talent for any provided role. This gives employees more liberty to work from home and increase their earnings without relocating to costly areas or commuting fars away. A 2022 survey found that 87% of employees who have the chance to work from another location take that chance. The break out of COVID-19, in conjunction with new business connection software, accelerated the relocate to remote work, consisting of in industries formerly hesitant to welcome the trend.

insights are important to us and and your fellow participants so first things initially though um let’s get to know everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I have actually had roles in all sort of Industries retail and Appeal to Aerospace in all types of organizations start-up to matrixed environments across the globe I supplied management and technique to populations of more than 100,000 employees on a monthly basis and in over 170 nations today I’m the perel strategist for papaya

Worldwide I work throughout business man maning and developing external relationships supporting Enterprise customers and options and serving as an advisor I wish to present our very first Greg um guest 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 stated my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal team and really work very carefully with our um HR department as well to handle various legal and HR matters that show up so actually excited 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 terrific

Implementation Challenges:
Although Papaya Global offers integrations with various HR and financing systems, we came across some hurdles throughout the integration process. Tailoring the software to line up with our existing facilities showed to be more complicated than prepared for, leading to delays in the preliminary rollout.

Prices Issues:
The comprehensive functions used by Papaya Global come at a cost, which a few of our smaller sized subsidiaries found to be prohibitively expensive. As a global company, we needed to thoroughly weigh the need for sophisticated performance versus budget plan restrictions.

Assistance Response Time:
On occasion, our teams experienced issues that needed immediate help. Nevertheless, the response time from Papaya Global’s client support team was not always as prompt as we would have liked, resulting in hold-ups in dealing with those concerns.

Our execution of involved a phased technique. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing processes. This permitted us to recognize and attend to combination challenges early on. As the software application became more instilled in our operations, we slowly broadened its usage to cover our whole worldwide workforce.

The automated features structured our payroll procedures, minimizing the time invested in manual estimations and compliance tracking. Regular training sessions and continuous support from Papaya helped our groups end up being proficient users of the software, maximizing its potential for our company.

However, paying a labor force can be complicated. It is especially challenging for business who utilize personnel throughout numerous countries, as they should constantly consolidate different information streams, manually track local and nationwide labor and guidelines, and invest important time and resources to establish local entities in new locations. These companies are faced with suboptimal, costly options, like opening a foreign subsidiary or hiring a professional work company, which is a local company that works with workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported problem recruiting certified workers, an increase of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.

provides a solution supporting all forms of work. It supplies an end-to-end platform, from employee onboarding and continuous management to worldwide payments and. It helps 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 labor force management. She co-founded after seeing the technology gap in worldwide.

papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to go to the complete webcast in order to get your credits if you have any concerns throughout 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 study please make certain to finish it as quickly as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hello and thank you for joining us today we’re enjoyed have you here as we embark on a journey of information to regulation achieving

360 degree staff member compliance where we’ll dive into the necessary aspects of the employee compliance management model throughout the session we’ll check out real life challenges real local policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to protect your company and employees while remaining certified in an

Ever developing regulatory environment in the everchanging world of company and finance guaranteeing compliance with payroll policies is not only important however likewise a legal important from the moment of working with to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance risks that have significant effects however with a much deeper more nuanced understanding of their obligations companies can not just navigate the elaborate landscape but also proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools necessary to browse the complex Surface of compliance whether you’re a skilled P expert a small company owner or someone new to the field what I want to do before we start and I believe it’s actually crucial

In our mission to boost efficiency and accuracy in managing our worldwide labor force, our international corporation turned to, a leading and workforce management software application. The transition intended to simplify the complex job of managing throughout various nations, currencies, and compliance guidelines.

The Excellent:

Compliance Management:
One of the standout functions of is its robust compliance management system. The software application immediately updates itself to adhere to ever-evolving tax and labor laws across several jurisdictions. This has actually been vital in guaranteeing that our procedures remain compliant in each country of operation.

is to state that the material here is not legal suggestions it is just for your details please consult your legal group must you have any concerns or concerns in relation to anything that we’ve discussed today our secret take key takeaways by the end of the webinar will be an understanding of worker compliance risks how to hire ly with confidence how to streamline information management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we have actually.

function as your hris or is sort of your core staff member record um to manage that staff member life cycle throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those staff members and compensate them and advantages Administration module that permits you to help manage the advantages you provide to your workers so actually excited to be here represent um bamb booy jar and talk 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 speak about sort 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 present yourself and tell the audience a little bit about papay worldwide yes absolutely thank you Ian hey there everyone I’m Gina dorelis I’m the Employment specialist manager.

at I manage the employment Council in the United States APAC EMA and Israel area I also function as us Council for I’m licensed in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and labor force management as a Service work force company to workers serving in over.

160 countries alright thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were sort of like going through the intro so it’s truly actually nice to in fact see in the webinar chat where everybody’s really attending from today I can see that we have individuals in Las Vegas and Indiana already so if you want to continue inform where you are that would be definitely wonderful whilst we simply wait for everyone else to kind of like join in there we go Chicago also well um so whil we’re doing that I’m awaiting everyone to kind of join I’ll simply run us through the program um today we are going to go over hiring Skill new greater Information Management termination compliance and automation wow the chat has got truly actually 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 really great commentary and concerns throughout the uh the webinar also all right so that’s the agenda 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 data is Papaya Global Web Chat multifaceted without fail and an.

Ever progressing relationship that starts the moment an individual joins a company it continues throughout their work and Beyond this journey can be divided into k to several crucial phases whilst we’re actually you understand that they’re utilized with us so on boarding everyday operations compensation and advantages expert advancement then we get to the offboarding and even advocacy so it even happens after the staff member has left your employment throughout the journey organizations are accountable for collecting storing securing worker data in compliance with data privacy guidelines no matter where it is you’re operating around the world it typically involves carrying out safe information management systems and making sure stringent adherence to local requirements to secure both the staff member and the organization the development of staff member information and management c.