A CFO’s Perspective on Quickbooks Online Payroll Vs Papaya Global…
The platform enables companies to manage their worldwide labor force and adhere to local employment policies and tax laws. Papaya Global offers a variety of services, including payroll management, benefits administration, compliance management, time and presence tracking, and HR management. The platform is designed to streamline the complexities of global payroll and provide real-time visibility and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New york city, London, and Kiev.
In the vibrant landscape of worldwide organization operations, managing payroll across borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a global business, I understand the crucial value of effective and certified payroll management. In our pursuit of quality, we have embraced ingenious options to simplify our procedures, and one such transformative tool is Software.
The Difficulty of Worldwide Payroll:
Global expansion causes diverse difficulties, and payroll management is no exception. Differing tax policies, differing employment laws, and numerous currencies make it important for companies to adopt sophisticated options to guarantee precision, compliance, and performance in payroll processing.
Software: A Comprehensive Solution:
employees so it’s truly fundamental to make sure that you’ve considered from the outset any post-termination constraints that you want to put into the contract of work that they’re enforceable so that means you require to really think of what it is you’re wanting to protect and why clearly Specify what’s included within the scope of that confidential information and attend to the duration of constraint post-determination that you want to use and be truly able to to justify that in relation to intellectual property the position actually depends on the type of copyright you’re looking to protect and likewise the jurisdiction so for instance from a copyright point of view in the Netherlands completion 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 automatically however in someplace like Poland for instance that automatic right may not exist which task would need to stream through the chain uh contractually so it really depends upon the jurisdiction and the kind of IP all right thank you Elizabeth Steve was remaining on the topic of agreements Miss classified misclassifying employees
Papaya Global Software has become a game-changer in the realm of international payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have witnessed firsthand the favorable effect of on our company’s financial operations.
Unified Global Payroll Processing:
enables our company to process payroll effortlessly across numerous countries. The platform’s unified technique enables consistent payroll calculations, decreasing mistakes and making sure compliance with regional guidelines. This has actually significantly alleviated the dangers related to global payroll processing.
also crucial for if in the future somebody states misclassification you have your file supported by the requisite documents which the best assessment tools to reveal someone that you had a thoughtful procedure and so what do you have to include 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 dealing with an individual Service Corporation and how are they running what are they doing is it the type of work that lends itself more to being an independent contractor than a staff member so for instance accounting
I.T engineering the creatives these all lend themselves more to that evaluation of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they need to be on site and managed again another key factor is the management and guidance of the uh worker and after that finally when is it a specific task is it a six-month job 6 years all of this is manageable but it has to be documented and it has to be thoroughly 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 internationally these tools take a survey list for the employee the worker fills out and fills these concerns out and so does completion customer or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the different questions since not every jurisdiction has the very same sensation about some of these questions some think they’re more vital than others and it brings out a red yellow or green red you’re most likely an employee yellow you’re on the cusp we can most likely help you with that in regards to some of the things you require to boost to ensure that you are considered that assessment of uh independent professional or green where you were examined as an as a independent contractor once that evaluation is done all the requisite documents are beneath it so that if later on there
Browsing the intricacies of global work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization current with modifications in regulations throughout jurisdictions. This makes sure that our payroll processes abide by the most recent requirements, lessening the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal companies who assist us keep our databases completely approximately date and we also call on we require to when we see an unusual or or particularly complicated situations okay thanks Steve I can simply see a quick concern in the Q a window yes the session will be taped and sent out to participants later on um moving back to to the webinar itself Ray employer of record is controlled in a different way around the globe and the German law for example it’s classed as worker leasing can you shed any light on some of the unique factors to consider for nations and where the eor design isn’t controlled yes Ian worker leasing or labor leasing as it’s also called which is prevalent in several countries particularly in Europe imposes stringent guidelines on products such as the length of assignment it also assigns workers to collective bargaining arrangements that gives them rights and advantages however even in the countries that don’t have those strict regulations for example the UK Canada and the nordics there are guidelines for each nation and each employee is dealt with the like all the other workers because nation and all those regulations require to be abided by all right thank you Ray um Kathy moving I would state to yourself what do companies require to consider when identifying agreement status to protect themselves and the rights of hires what are the advantages and disadvantages of hiring specialists and Freelancers versus irreversible workers so clearly the the advantage of specialists versus employees is the the flexibility for both the worker and for the company um however I can’t worry enough how important it is to have a consistent extensive and a well-documented compliance
Quickbooks Online Payroll Vs Papaya Global and Time Savings:
The software’s automation abilities have substantially reduced the time and effort required for payroll processing. Handbook information entry and repetitive jobs have been minimized, permitting our financing team to concentrate on tactical efforts instead of administrative concerns. This has led to increased effectiveness and productivity within our monetary operations.
in one since 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 ideal info has to be on the payslip in the right format and in the best position if you remain in breach of of guidelines for payslips the fines are released per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think about and we’re just two questions in and 10 minutes or so working with in one country is tough enough but when working with in a you know on a worldwide level it’s a completely various story you require to ensure that you’re up to date with present as well as pending local labor laws Steve um how do you make sure and guarantee that the people 2.0 team is on top of an ever-changing landscape which your customers are fully supported and I’ll arrange this into 3 key things we perform in firstly you require to have the ideal team so we employ a group of worldwide professionals in Work Practices um that ex that team of specialists consists of legal representatives it consists of payroll professionals it consists of HR professionals and these are individuals that not just understand the laws in these in these nations and areas however they also know the languages they know the regional practices they know the cultures and it is necessary to have that ideal group and truly have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies comprehensive real-time analytics and reporting tools. As a CFO, having access to accurate and prompt financial data is vital for decision-making. The platform’s reporting capabilities empower me to make educated tactical decisions based upon real-time insights into our worldwide payroll information.
application and its scope and the way that it applies to employment law in practice can be evaluated through the judicial system by way of case law examples of that would be the acquired rights regulation otherwise referred to as the 2p guidelines in the UK the working time policies which has actually had numerous hairs of that legislation tested especially around holiday pay and of course as Kathy’s going to come on to talk about later on work status which there’s been multiple precedence set over the years so I think it’s truly that constant 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 personal experience while moving across the pond as discussed each nation has various policies however the United States is basically 50 nations
Scalability for Organization Growth:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into new markets, the software application effortlessly accommodates changes in our labor force and payroll requirements. This scalability guarantees that our payroll facilities can adjust to the progressing requirements of our international company.
Global Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of customer service and I would say individually and collectively these three individuals have Years of experience in in work law and worldwide Work 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 likewise have one of our own Stars erase share head of Global Services at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business for around 4 and a half years as head of Collaborations I have actually established Papaya’s network of in-country Partners in over 160 places on an individual aspect and related to our subject today I have actually had the chance to relocate and operate in three various countries it is the business’s duty to ensure my defense while living in a foreign country compliance with regional laws and guidelines is important for me or anybody else as an expat or as a regional so today we have actually invited our trusted Partners individuals 2.0 to demonstrate the significance of local
competence when business Go International thank you and enjoy fine thank you as I said let’s move on to the pact program today’s webinar is an opportunity to ask the panel the questions you have actually been considering we’ll go over the truths a company needs to think about when opening a brand-new entity and expanding into brand-new nations in addition to keeping things going we’ll cover elements such as regional regulations considerations when working with compliance crucial challenges payments and what not to do it is among the most essential 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 require to comprehend and handle knowing what to do in each new scenario as it rises is essential on lots of levels comprehending regional policies and local laws along with service practices helps mitigate Associated and worldwide growth papaya through our local experts can navigate possible dangers such as intellectual property defense information privacy security issues guaranteeing the company’s operations remain certified and safe tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has proven to be a vital property in our mission for efficient and certified global payroll management. As the CFO of an international company, I am confident in advising Papaya Global to companies looking for to enhance their payroll processes, boost compliance, and achieve greater efficiency in handling their worldwide labor force. The software application’s innovative functions and commitment to excellence align with our strategic objectives, making it an integral part of our financial operations.
I find time and time again the workers often misclassified unconsciously they do not comprehend the conditions of work or contract and are told by the customer why it’s most advantageous primarily to the customer why you must be employed or engaged in this style the employee may owe taxes and Social Security to the authorities the future pension and health care opportunities of the worker can be impacted and numerous times it can be years before this all falls out and by that time it’s far too late years have passed they haven’t added to pensions Etc so it’s a huge impact that they never understood they were walking into you couldn’t agree with you more if you state the UK for example hmrc can go back as much as 10 years um Kathy companies are securing insurance coverage against misclassification however usually premiums are just covering the cost of legal costs whilst the average claim examined versus companies equates to to 40 or half of the base salary of employee exists any point in getting insurance and what is the alternative yeah to your point um you do need to check out the small print it is not covering the taxes charge and interest in most cases I haven’t seen it a minimum of so uh the the other location that I do believe if you managed to get the coverage what we are saying is is that if your compliance program is not up to stuff you could be rejected coverage on the basis of the truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Quickbooks Online Payroll Vs Papaya Global …
The comprehensive features of come at an expense,
Over the past couple of years, the workforce has actually undergone a significant improvement with the emergence of remote work, which has removed geographical restraints on hiring. This has actually made it possible for companies to recruit skill from all over the world, permitting them to assemble the very best possible team for each role. As a result, employees have gotten greater versatility to work from home and increase their incomes without needing to transfer to pricey areas or commute long distances. According to a 2022 survey, 87% of employees who have the choice to work from another location choose to do so. The COVID-19 pandemic, combined with advancements in business connectivity software, has even more accelerated the shift towards remote work, even in industries that were initially reluctant to adopt the trend.
insights are important to us and and your fellow attendees 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 functions in all type of Industries retail and Charm to Aerospace in all types of companies startup to matrixed environments across the globe I supplied management and technique to populations of more than 100,000 employees on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout the business man maning and developing external relationships supporting Enterprise clients and options and functioning as a consultant I want to introduce our very first Greg um visitor 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 stated 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 closely with our um HR department too to handle numerous legal and HR matters that show up so truly thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our objective is to set you as HR professionals totally free to do excellent
While Papaya Global offers integrations with different HR and financing systems, the implementation procedure was not without obstacles. Integrating the software application with our existing facilities required additional customization, causing some hold-ups in the initial rollout.
Paying FAQs Quickbooks Online Payroll Vs Papaya Global 2024
and some smaller sized subsidiaries within our organization found the rates to be on the higher side. As a global company, balancing the requirement for sophisticated functions with budget restrictions ended up being a delicate exercise.
Client Assistance Reaction Time:
There were instances where our teams dealt with problems that required prompt assistance. However, the reaction time from’s consumer assistance team was not constantly as quick as desired, resulting in periodic delays in issue resolution.
Our application of involved a phased technique. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This enabled us to identify and address combination difficulties early on. As the software application became more instilled in our operations, we gradually expanded its usage to cover our entire international workforce.
The automated functions structured our payroll processes, reducing the time spent on manual estimations and compliance tracking. Regular training sessions and ongoing support from Papaya helped our teams end up being skilled users of the software application, maximizing its potential for our company.
Business that staff member workers throughout numerous countries often deal with elaborate obstacles when it concerns managing their workforce. Among the biggest obstacles is consolidating numerous data streams and adhering to varied local and nationwide labor regulations, which can be both lengthy and pricey. Additionally, setting up regional entities in new areas can be a costly and suboptimal option, with alternatives such as opening a foreign subsidiary or hiring a professional work company (PEO) often charging up to 15% of the payroll. These difficulties have actually led to a considerable increase in trouble recruiting certified workers, with 75% of companies reporting this issue in 2022, a 21% increase from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
provides a service supporting all forms of employment. It provides an end-to-end platform, from employee onboarding and ongoing management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they run, provides management of employment advantages, and ensures data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading specialist in payroll and workforce management. She co-founded after seeing the innovation gap in worldwide.
papaya this webcast has actually 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 questions during the webcast please click on the Q&A tab in your webinar controls and type the there a new tab will open in your browser with the webcast study please make sure to complete it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hi and thank you for joining us today we’re enjoyed have you here as we embark on a journey of data to policy accomplishing
360 degree employee compliance where we’ll dive into the important aspects of the employee compliance management design throughout the session we’ll explore real world difficulties genuine regional policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to protect your organization and workers while staying compliant in an
Ever developing regulatory environment in the everchanging world of business and finance guaranteeing compliance with payroll policies is not just essential but likewise a legal necessary from the minute of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance risks that have far-reaching repercussions however with a deeper more nuanced understanding of their obligations companies can not just navigate the elaborate landscape but also proactively guarantee this 360 degree compliance the webinar is designed to equip you with the knowledge and tools needed to browse the complex Surface of compliance whether you’re a seasoned P professional a small company owner or somebody brand-new to the field what I would like to do before we start and I believe it’s actually important
In our quest to improve effectiveness and accuracy in handling our worldwide workforce, our international corporation turned to, a leading and workforce management software. The transition aimed to simplify the complex job of handling across various countries, currencies, and compliance policies.
Among the standout functions of is its robust compliance management system. The software application immediately updates itself to abide by ever-evolving tax and labor laws across numerous jurisdictions. This has been important in making sure that our procedures stay compliant in each nation of operation.
is to state that the content here is illegal guidance it is just for your info please consult your legal group needs to you have any questions or concerns in relation to anything that we have actually discussed today our key take essential takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to hire ly with self-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’ve.
function as your hris or is sort of your core worker record um to manage that employee life cycle throughout their Journey with you as as a staff member in addition to a payroll module we have to help you pay those employees and compensate them and advantages Administration module that allows you to help manage the advantages you offer to your workers so really excited to be here represent um bamb booy jar and talk about this topic um and I guess from my perspective I’ll I’ll most likely provide a lot of a concentrate on the US side of things when we speak about kind of compliance so delighted to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to present yourself and tell the audience a little bit about papay global yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Employment specialist manager.
at I handle the work Council in the US APAC EMA and Israel region I likewise serve as us Council for I’m licensed in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service labor force provider to employees serving in over.
160 countries all right thank you so both I feel totally underqualified sitting here with you both well I forgot to mention as we were sort of like going through the intro so it’s truly really nice to actually see in the webinar chat where everybody’s really participating in from today I can see that we have individuals in Las Vegas and Indiana already so if you want to carry on tell where you are that would be absolutely great whilst we simply wait for everybody else to type of like take part there we go Chicago also well um so whil we’re doing that I’m waiting for everyone to type of join I’ll just run us through the program um today we are going to go over working with Skill brand-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 coming from absolutely everywhere which is fantastic so uh I’m hoping that we’re really going to have some really fantastic 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 an employee and their data is Quickbooks Online Payroll Vs Papaya Global complex without fail and an.
Ever developing relationship that starts the minute a person signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to a number of essential stages whilst we’re in fact you understand that they’re utilized with us so on boarding everyday operations settlement and advantages expert advancement then we get to the offboarding and even advocacy so it even happens after the employee has left your work throughout the journey organizations are responsible for collecting storing securing employee information in compliance with information privacy regulations no matter where it is you’re operating around the globe it typically includes implementing protected data management systems and ensuring strict adherence to regional requirements to protect both the employee and the company the evolution of worker data and management c.