A CFO’s Perspective on App.Papaya Global…
The platform allows companies to handle their global labor force and comply with regional work guidelines and tax laws. Papaya Global provides a range of services, including payroll management, advantages administration, compliance management, time and presence tracking, and HR management. The platform is designed to simplify the complexities of worldwide payroll and offer real-time presence and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the dynamic landscape of worldwide organization operations, handling payroll throughout borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of an international business, I understand the crucial value of effective and certified payroll management. In our pursuit of excellence, we have accepted ingenious options to simplify our processes, and one such transformative tool is Software application.
The Obstacle of Worldwide Payroll:
Worldwide expansion brings about diverse challenges, and payroll management is no exception. Differing tax policies, differing employment laws, and several currencies make it crucial for organizations to adopt advanced services to guarantee accuracy, compliance, and performance in payroll processing.
Software application: A Comprehensive Option:
employees so it’s really essential to make sure that you have actually thought about from the start any post-termination limitations that you want to take into the contract of work that they’re enforceable so that indicates you require to really consider what it is you’re aiming to protect and why plainly Specify what’s consisted of within the scope of that secret information and address the duration of constraint post-determination that you wish to apply and be actually able to to justify that in relation to intellectual property the position truly depends upon the kind of intellectual property you’re aiming to protect and also the jurisdiction so for example from a copyright perspective in the Netherlands the end customer is most likely to have the um copyright rights in a copyright that the workers produced who’s been under their guidance and control automatically nevertheless in somewhere like Poland for instance that automatic right may not exist and that task would need to flow through the chain uh contractually so it really depends upon the jurisdiction and the kind of IP alright thank you Elizabeth Steve was staying on the subject of agreements Miss classified misclassifying staff members
Papaya Global Software has become a game-changer in the world of global payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, user-friendly interface. As the CFO, I have experienced firsthand the favorable effect of on our organization’s financial operations.
Unified Worldwide Payroll Processing:
enables our business to procedure payroll perfectly throughout multiple countries. The platform’s unified technique permits constant payroll calculations, minimizing errors and making sure compliance with regional guidelines. This has significantly alleviated the risks associated with worldwide payroll processing.
likewise key for if in the future someone states misclassification you have your file supported by the requisite files which the right examination tools to show somebody that you had a thoughtful process therefore what do you need to consist of because process it’s the who the what the where and the when who are you handling are you handling a private or are you handling a personal Service Corporation and how are they operating what are they doing is it the kind of work that lends itself more to being an independent specialist than a worker so for example accounting
I.T engineering the creatives these all provide themselves more to that examination of being freelancer you know also uh where are they doing it can they work from anywhere or do they need to be on website and managed again another essential aspect is the management and guidance of the uh employee and after that finally when is it a particular project is it a six-month job 6 years all of this is workable but it needs to be recorded and it has to be thoroughly um investigated 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 internationally these tools take a survey list for the employee the employee submits and fills these questions out therefore does completion customer or the recipient of the services they both put their details into the tool and after that it does an examination waiting the different questions due to the fact that not every jurisdiction has the same feeling about a few of these questions some believe they’re more crucial than others and it comes out with a red yellow or green red you’re probably an employee 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 strengthen to make certain that you are considered that evaluation of uh independent professional or green where you were evaluated as an as a independent contractor once that evaluation is done all the requisite documents are beneath it so that if later on there
Navigating the intricacies of global work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our company up-to-date with changes in regulations throughout jurisdictions. This ensures that our payroll processes follow the latest standards, lessening the danger of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal companies who assist us keep our databases entirely approximately date and we also call on we need to when we see an uncommon or or particularly intricate situations all right thanks Steve I can just see a fast concern in the Q a window yes the session will be tape-recorded and sent out to participants later on um moving back to to the webinar itself Ray company of record is regulated in a different way around the globe and the German law for instance it’s classed as staff member leasing can you shed any light on a few of the unique considerations for nations and where the eor model isn’t managed yes Ian staff member leasing or labor leasing as it’s likewise called which is prevalent in numerous countries particularly in Europe enforces rigorous guidelines on products such as the length of assignment it likewise assigns workers to collective bargaining arrangements that provides rights and benefits but even in the countries that do not have those strict regulations for example the UK Canada and the nordics there are regulations for each country and each employee is treated the same as all the other employees because country and all those policies need to be abided by all right thank you Ray um Kathy moving I would state to yourself what do companies need to factor in when figuring out contract status to safeguard themselves and the rights of hires what are the benefits and drawbacks of hiring professionals and Freelancers versus long-term staff members so clearly the the advantage of professionals versus staff members is the the flexibility for both the employee and for the employer um but I can’t worry enough how important it is to have a consistent extensive and a well-documented compliance
App.Papaya Global and Time Cost Savings:
The software’s automation abilities have actually significantly reduced the time and effort needed for payroll processing. Manual data entry and repetitive tasks have been minimized, permitting our financing team to focus on tactical initiatives instead of administrative burdens. This has resulted in increased efficiency and efficiency within our monetary operations.
in one given that each state has its own policies Californians are a few of the most stringent 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 ideal position if you remain in breach of of guidelines for payslips the fines are provided per payslip so that’s each employee each pay slip will incur a great thanks Ray thank you Elizabeth a lot to fret to think of and we’re just two questions in and 10 minutes approximately working with in one nation is tough enough but when hiring in a you know on a global level it’s a totally different story you require to make certain that you depend on date with existing as well as pending local labor laws Steve um how do you make certain and make sure that individuals 2.0 group is on top of an ever-changing landscape and that your customers are fully supported and I’ll arrange this into three essential things we perform in first and foremost you require to have the ideal team so we hire a team of global specialists in Employment Practices um that ex that group of experts includes legal representatives it includes payroll specialists it consists of HR experts and these are individuals that not just know the laws in these in these countries and regions however they likewise know the languages they know the local practices they understand the cultures and it is necessary to have that ideal group and really have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides thorough real-time analytics and reporting tools. As a CFO, having access to precise and timely financial data is crucial for decision-making. The platform’s reporting abilities empower me to make educated strategic decisions based on real-time insights into our international payroll data.
application and its scope and the way that it applies to employment law in practice can be checked through the judicial system by way of case law examples of that would be the acquired rights instruction otherwise called the 2p guidelines in the UK the working time policies which has actually had numerous hairs of that legislation checked especially around vacation pay and obviously as Kathy’s going to come on to speak about later work status which there’s been numerous precedence set over the years so I believe it’s actually that consistent evolution of the work law landscape that you really need to browse when when operating in Europe okay thank you Elizabeth Ray what about you from your personal experience while crossing the pond as pointed out each country has different guidelines however the United States is essentially 50 nations
Scalability for Company Growth:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software seamlessly accommodates changes in our labor force and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the progressing needs of our international organization.
International Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Gander who is our senior vice president of customer service and I would say individually and collectively these three people have Years of experience in in employment law and worldwide Work Practices so thank you it’s a satisfaction to be with everybody here today seems 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 Solutions at papaya Worldwide tell us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the company for around four and a half years as head of Partnerships I have actually developed Papaya’s network of in-country Partners in over 160 locations on an individual element and related to our subject today I’ve had the opportunity to relocate and operate in three various countries it is the business’s responsibility to guarantee my security while living in a foreign nation compliance with local laws and regulations is crucial for me or anybody else as an expat or as a regional so today we have invited our trusted Partners people 2.0 to show the significance of local
expertise when companies Go International thank you and take pleasure in all right thank you as I stated let’s move on to the pact program today’s webinar is an opportunity to ask the panel the concerns you’ve been thinking of we’ll discuss the truths a business needs to think about when opening a new entity and broadening into new countries as well as keeping things going we’ll cover elements such as local regulations factors to consider when working with compliance essential challenges payments and what not to do it is among the most important things remembering what not to do um operating on an international level is not for the faint-hearted the bigger a business grows the more they need to understand and manage knowing what to do in each new circumstance as it rises is essential on many levels comprehending regional regulations and regional laws along with company practices helps alleviate Associated and worldwide expansion papaya through our local experts can browse prospective dangers such as copyright defense information privacy security concerns ensuring the business’s operations remain certified and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has actually proven to be an important possession 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 improve their payroll procedures, improve compliance, and attain greater efficiency in managing their global workforce. The software’s innovative functions and dedication to excellence line up with our tactical 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 openly revealed settlements there’s likewise considerable legal expenses there exists’s other penalties there’s other costs behind that too so the overall expense can be extremely considerable in the 10s of countless dollars or more and and those amounts are growing uh the reason business are getting it so wrong is really simply the guidelines are complex and they’re changing all the time believe ir-35 in the UK which has been an ongoing advancement for several years now and and still a great deal of unpredictability among companies on what it actually indicates and how you handle it most employers are just not knowledgeable about the guidelines and and act as if the the rules are the same all over which they’re not so so motivate you to to be really proactive as you’re engaging uh employees from a classification viewpoint all right thank you Stephen and returning to yourself Ray it’s not only the company that suffers in the long run what impacts can this have on the staff member App.Papaya Global specifically when it concerns their own tax liabilities social security and benefits for instance jury and clearly the workers the opposite of the coin
I discover time and time again the employees typically misclassified unconsciously they do not comprehend the conditions of work or contract and are told by the customer why it’s most advantageous generally to the customer why you must be employed or engaged in this style the worker may owe taxes and Social Security to the authorities the future pension and healthcare privileges of the worker can be impacted and numerous times it can be years before this all falls out and by that time it’s too late years have passed they haven’t added to pensions Etc so it’s a big impact that they never ever knew they were strolling into you couldn’t agree with you more if you say the UK for instance hmrc can return as much as 10 years um Kathy companies are securing insurance against misclassification however normally premiums are only covering the expense of legal charges whilst the typical claim examined against companies relates to to 40 or 50 percent of the base salary of worker is there any point in getting insurance coverage and what is the alternative yeah to your point um you do require to read the small print it is not covering the taxes charge and interest in many cases I have not 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 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
Cost Factors to consider and App.Papaya Global …
The extensive functions of come at a cost,
Over the past couple of decades, the labor force has actually gone through a substantial transformation with the emergence of remote work, which has actually eliminated geographical restrictions on hiring. This has enabled services to recruit skill from all over the world, enabling them to put together the best possible group for each role. As a result, workers have actually gained higher versatility to work from home and increase their revenues without needing to relocate to expensive areas or commute fars away. According to a 2022 survey, 87% of workers who have the option to work remotely choose to do so. The COVID-19 pandemic, integrated with advancements in enterprise connectivity software, has even more accelerated the shift towards remote work, even in industries that were at first reluctant to adopt the pattern.
insights are important to us and and your fellow participants so first things initially though um let’s learn more about everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had roles in all kind of Industries retail and Appeal to Aerospace in all types of businesses start-up to matrixed environments across the globe I offered leadership and strategy to populations of more than 100,000 staff members on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Worldwide I work across the business guy maning and constructing external relationships supporting Business clients and solutions and acting as an advisor I ‘d like to introduce 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 really carefully with our um HR department as well to manage different legal and HR matters that show up so actually thrilled to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our objective is to set you as HR experts totally free to do great
Although Papaya Global supplies integrations with numerous HR and finance systems, we came across some obstacles throughout the integration process. Personalizing the software to line up with our existing infrastructure proved to be more complex than expected, leading to hold-ups in the initial rollout.
The substantial features used by Papaya Global come at a cost, which a few of our smaller sized subsidiaries discovered to be excessively costly. As a global company, we had to carefully weigh the requirement for sophisticated performance against budget plan restrictions.
Assistance Response Time:
On occasion, our teams experienced problems that needed immediate help. Nevertheless, the reaction time from Papaya Global’s customer assistance team was not always as prompt as we would have liked, leading to hold-ups in fixing those concerns.
Our application of involved a phased approach. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This allowed us to determine and address combination challenges early on. As the software application became more instilled in our operations, we gradually expanded its use to cover our whole international labor force.
The automated functions streamlined our payroll processes, reducing the time invested in manual calculations and compliance tracking. Regular training sessions and ongoing support from Papaya helped our groups end up being proficient users of the software, optimizing its potential for our company.
Nevertheless, paying a labor force can be intricate. It is especially challenging for companies who employ personnel throughout multiple nations, as they must continuously consolidate different data streams, by hand track regional and national labor and regulations, and invest valuable time and resources to set up local entities in brand-new locations. These business are confronted with suboptimal, pricey choices, like opening a foreign subsidiary or working with a professional employment organization, which is a local company that employs staff members on their behalf and can charge up to 15% of. By 2022, 75% of companies reported problem recruiting certified personnel, a boost of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
provides a service supporting all kinds of employment. It supplies an end-to-end platform, from worker onboarding and ongoing management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they run, provides management of employment advantages, and makes sure information 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 labor force management. She co-founded after seeing the technology space in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to attend the total 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 internet browser with the webcast survey please be sure to finish it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hey there and thank you for joining us today we’re thrilled to have you here as we start a journey of data to policy attaining
360 degree employee compliance where we’ll dive into the vital elements of the employee compliance management model throughout the session we’ll explore real life difficulties real regional policies best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to secure your company and employees while staying compliant in an
Ever progressing regulatory environment in the everchanging world of service and finance guaranteeing compliance with payroll policies is not only crucial but likewise a legal essential from the minute of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance dangers that have significant consequences nevertheless with a deeper more nuanced understanding of their responsibilities companies can not just browse the elaborate landscape but also proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools required to browse the complex Terrain of compliance whether you’re a seasoned P professional a small company owner or someone brand-new to the field what I would like to do before we start and I believe it’s truly important
In our quest to boost effectiveness and precision in handling our international labor force, our multinational corporation turned to, a leading and labor force management software application. The transition intended to simplify the complex job of handling throughout numerous nations, currencies, and compliance guidelines.
One of the standout functions of is its robust compliance management system. The software automatically updates itself to abide by ever-evolving tax and labor laws across numerous jurisdictions. This has actually been indispensable in guaranteeing that our processes remain compliant in each nation of operation.
is to state that the content here is not legal recommendations it is just for your details please consult your legal team ought to you have any questions or concerns in relation to anything that we’ve gone over today our secret take key takeaways by the end of the webinar will be an understanding of staff member compliance risks how to hire 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’ve.
work as your hris or is sort of your core worker record um to manage that staff member life cycle throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those workers and compensate them and benefits Administration module that allows you to help manage the advantages you provide to your staff members so really excited to be here represent um bamb booy jar and speak about this subject um and I think from my point of view I’ll I’ll most likely provide a great deal of a focus on the United States side of things when we talk about type of compliance so pleased to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay global yes definitely thank you Ian hello everyone I’m Gina dorelis I’m the Employment specialist manager.
at I handle the work Council in the United States APAC EMA and Israel area I likewise serve as us Council for I’m certified in New york city and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and labor force management as a Service labor force service provider to employees serving in over.
160 nations fine thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were type of like going through the intro so it’s really really good to really see in the webinar chat where everyone’s really attending from today I can see that we have people in Las Vegas and Indiana already so if you wish to carry on tell where you are that would be absolutely wonderful whilst we simply await everybody else to type of like participate there we go Chicago too well um so whil we’re doing that I’m waiting on everybody to type of join I’ll simply run us through the agenda um today we are going to talk about working with Skill new higher Information Management termination compliance and automation wow the chat has got actually truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely 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 too okay so that’s the program then what I ‘d like to Now cover is the the compliance and the Personal privacy side of things so the the Journey of an employee and their data is App.Papaya Global diverse without fail and an.
Ever evolving relationship that begins the minute an individual joins a company it continues throughout their employment and Beyond this journey can be divided into k to several essential phases whilst we’re actually you know that they’re used with us so on boarding day-to-day operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even occurs after the worker has actually left your employment throughout the journey organizations are accountable for collecting keeping protecting staff member information in compliance with information personal privacy guidelines no matter where it is you’re running worldwide it frequently involves executing secure information management systems and making sure strict adherence to local requirements to safeguard both the staff member and the organization the advancement of worker data and management c.