A CFO’s Perspective on Facebook Papaya Global…
Papaya Global’s platform improves worldwide workforce management for business, making sure compliance with regional policies and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes international payroll operations, supplying services with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of worldwide business operations, handling payroll across borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of a global company, I comprehend the critical value of effective and certified payroll management. In our pursuit of excellence, we have actually embraced innovative services to improve our procedures, and one such transformative tool is Software.
The Challenge of Worldwide Payroll:
International expansion causes diverse obstacles, and payroll management is no exception. Differing tax guidelines, differing employment laws, and several currencies make it imperative for companies to embrace sophisticated services to ensure precision, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Service:
staff members so it’s actually basic to guarantee that you have actually thought about from the beginning any post-termination restrictions that you wish to put into the contract of work that they’re enforceable so that suggests you require to really think about what it is you’re aiming to protect and why plainly Define what’s consisted of within the scope of that secret information and address the duration of constraint post-determination that you want to apply and be actually able to to validate that in relation to copyright the position really depends upon the kind of copyright you’re aiming to secure and likewise the jurisdiction so for example from a copyright perspective in the Netherlands the end client is more likely to have the um copyright rights in a copyright that the employees produced who’s been under their guidance and control automatically nevertheless in somewhere like Poland for example that automated right may not be there and that assignment would require to stream through the chain uh contractually so it actually depends upon 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 has emerged as a game-changer in the realm of global 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 experienced firsthand the positive effect of on our organization’s financial operations.
Unified Global Payroll Processing:
allows our company to procedure payroll perfectly throughout numerous countries. The platform’s unified technique enables consistent payroll calculations, decreasing mistakes and making sure compliance with regional regulations. This has actually substantially reduced the dangers connected with worldwide payroll processing.
likewise crucial for if in the future somebody states misclassification you have your file supported by the requisite files and that the right assessment tools to show someone that you had a thoughtful process 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 dealing with a specific or are you dealing with 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 assessment of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they have to be on website and handled again another key aspect is the management and supervision of the uh worker and then lastly when is it a specific job is it a six-month project six years all of this is workable however it needs to be recorded and it has to be completely 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 worldwide these tools take a survey list for the worker the worker fills out and fills these questions out therefore does the end customer or the recipient of the services they both put their info into the tool and then it does an evaluation waiting the different concerns since not every jurisdiction has the very same sensation about a few of these questions some think they’re more crucial than others and it comes out with a red yellow or green red you’re probably an employee yellow you’re on the cusp we can most likely assist you with that in regards to some of the things you need to boost to make certain that you are given that evaluation of uh independent specialist or green where you were evaluated as an as a independent professional once that examination is done all the requisite documents are below it so that if later on there
Navigating the complexities of worldwide work laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization updated with changes in policies across jurisdictions. This guarantees that our payroll processes abide by the most recent requirements, decreasing the danger of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal companies who help us keep our databases completely up to date and we likewise get in touch with we need to when we see an unusual or or especially intricate situations 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 differently worldwide and the German law for example it’s classified as worker leasing can you shed any light on a few of the unique considerations for countries and where the eor design isn’t controlled yes Ian staff member leasing or labor leasing as it’s likewise called which prevails in a number of nations specifically in Europe enforces rigorous regulations on items such as the length of assignment it likewise assigns employees to collective bargaining contracts that gives them rights and benefits but even in the countries that don’t have those strict guidelines for instance the UK Canada and the nordics there are guidelines for each country and each worker is dealt with the like all the other employees because nation and all those policies require to be abided by alright thank you Ray um Kathy moving I would state to yourself what do business need to consider when determining agreement status to protect themselves and the rights of hires what are the pros and cons of employing contractors and Freelancers versus permanent staff members so obviously the the benefit of contractors versus workers is the the versatility for both the employee and for the company um however I can’t stress enough how crucial it is to have a constant comprehensive and a well-documented compliance
Facebook Papaya Global and Time Savings:
The software application’s automation capabilities have significantly decreased the time and effort needed for payroll processing. Manual data entry and recurring jobs have been lessened, permitting our finance team to focus on strategic efforts rather than administrative burdens. This has actually resulted in increased performance and efficiency within our monetary operations.
in one since each state has its own regulations Californians are a few of the most stringent an example is pay slips on a payslip in California the right info has to be on the payslip in the best format and in the ideal position if you’re in breach of of regulations for payslips the fines are released per payslip so that’s each staff member each pay slip will incur a great thanks Ray thank you Elizabeth a lot to fret to think about and we’re just two questions in and 10 minutes or so working with in one country is difficult enough but when employing in a you know on an international level it’s an entirely different story you need to make certain that you depend on date with existing in addition to pending local labor laws Steve um how do you ensure and ensure that the people 2.0 group is on top of an ever-changing landscape which your customers are totally supported and I’ll organize this into 3 key things we carry out in firstly you need to have the best group so we employ a team of global specialists in Employment Practices um that ex that team of professionals includes attorneys it includes payroll specialists it consists of HR experts and these are individuals that not only know the laws in these in these countries and areas but they also understand the languages they understand the local practices they understand the cultures and it is very important to have that best group and genuinely have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies detailed real-time analytics and reporting tools. As a CFO, having access to accurate and timely financial data is essential for decision-making. The platform’s reporting capabilities empower me to make educated strategic choices based on real-time insights into our global payroll information.
application and its scope and the manner in which it applies to employment law in practice can be tested through the judicial system by way of case law examples of that would be the obtained rights directive otherwise known as the 2p guidelines in the UK the working time regulations which has actually had different strands of that legislation tested particularly around vacation pay and obviously as Kathy’s going to come on to speak about later employment status which there’s been several precedence set for many years so I believe it’s truly that constant advancement of the work law landscape that you really need to navigate when when operating in Europe all right thank you Elizabeth Ray what about you from your personal experience while moving across the pond as mentioned each country has different regulations however the United States is basically 50 countries
Scalability for Business Growth:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software application perfectly accommodates modifications in our workforce and payroll requirements. This scalability guarantees that our payroll facilities can adapt to the evolving requirements of our global organization.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Glimpse who is our senior vice president of client services and I would say separately and collectively these three people have Years of experience in in employment law and worldwide Work Practices so thank you it’s an enjoyment to be with everyone 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 one of our own Stars delete share head of Global Provider at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the company for around four and a half years as head of Partnerships I have actually established Papaya’s network of in-country Partners in over 160 areas on an individual element 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 protection while residing in a foreign nation compliance with regional laws and guidelines is crucial for me or anybody else as an expat or as a regional so today we have invited our trusted Partners individuals 2.0 to demonstrate the value of regional
knowledge when companies Go Worldwide thank you and enjoy okay thank you as I stated let’s proceed to the pact agenda today’s webinar is an opportunity to ask the panel the questions you’ve been considering we’ll go over the facts a company requires to think about when opening a new entity and broadening into brand-new countries along with keeping things going we’ll cover elements such as local guidelines considerations when hiring compliance essential challenges payments and what not to do it’s one of the most crucial 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 situation as it rises is very important on numerous levels comprehending regional guidelines and regional laws in addition to company practices assists reduce Associated and worldwide growth papaya through our local professionals can navigate prospective dangers such as copyright defense information privacy security problems ensuring the company’s operations remain compliant and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software has proven to be a vital property in our mission for effective and certified global payroll management. As the CFO of a global company, I am positive in advising Papaya Global to companies seeking to improve their payroll processes, improve compliance, and achieve higher performance in handling their global workforce. The software’s ingenious features and dedication to quality align with our tactical goals, making it an important part of our monetary operations.
openly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly announced settlements there’s likewise substantial legal expenses there exists’s other charges there’s other expenses behind that too so the overall expense can be extremely significant in the 10s of countless dollars or more and and those amounts are growing uh the reason business are getting it so incorrect is really just the rules are complex and they’re altering all the time believe ir-35 in the UK which has actually been a continuous development for several years now and and still a lot of uncertainty amongst companies on what it actually means and how you handle it most employers are merely not familiar with the rules and and act as if the the guidelines are the same everywhere 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 moving back to yourself Ray it’s not only the business that suffers in the long run what effects can this have on the worker Facebook Papaya Global specifically when it comes to their own tax liabilities social security and advantages for instance jury and obviously the workers the other side of the coin
I find time and time again the workers often misclassified unconsciously they don’t understand the conditions of employment or agreement and are informed by the client why it’s most advantageous primarily to the client why you need to be utilized or taken part in this style the employee may owe taxes and Social Security to the authorities the future pension and health care advantages of the employee 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 gone by they have not added to pensions And so on so it’s a big effect that they never knew 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 ten years um Kathy business are taking out insurance against misclassification however generally premiums are only covering the expense of legal fees whilst the typical claim examined versus employers equates to to 40 or 50 percent 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 charge and interest in many cases I haven’t seen it at least so uh the the other area that I do think if you managed to get the coverage what we are stating is is that if your compliance program is not up to stuff you could be denied protection on the basis of the reality that you were not in compliance with laws um in the UK
Cost Factors to consider and Facebook Papaya Global …
The comprehensive functions of come at an expense,
Current decades have actually seen a dramatic change to the workforce as the rise of remote work has broken down geographical barriers to working with. Services can now employ personnel from anywhere worldwide, enabling them to access the very best offered talent for any offered function. This offers employees more flexibility to work from home and increase their earnings without moving to pricey locations or commuting cross countries. A 2022 study found that 87% of employees who have the possibility to work remotely take that opportunity. The break out of COVID-19, in conjunction with brand-new business connectivity software application, sped up the relocate to remote work, including in industries formerly hesitant to embrace the trend.
insights are important to us and and your fellow guests so first things first 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’ve had functions in all kind of Industries retail and Appeal to Aerospace in all types of companies startup to matrixed environments around the world I offered leadership and technique to populations of more than 100,000 staff members on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across the business man maning and building external relationships supporting Enterprise customers and services and acting as an advisor I wish 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 business counsil at bambo HR so I lead our internal legal group and actually work really closely with our um HR department as well to deal with numerous 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 objective is to set you as HR experts free to do excellent
While Papaya Global offers combinations with numerous HR and finance systems, the application process was not without difficulties. Incorporating the software with our existing infrastructure needed extra personalization, resulting in some hold-ups in the preliminary rollout.
Paying FAQs Facebook Papaya Global 2024
and some smaller sized subsidiaries within our company found the prices to be on the greater side. As a global company, balancing the requirement for innovative functions with spending plan restrictions ended up being a delicate workout.
Customer Assistance Response Time:
There were instances where our groups dealt with problems that required prompt assistance. Nevertheless, the reaction time from’s customer assistance team was not always as quick as wanted, causing periodic hold-ups in issue resolution.
Our execution of involved a phased method. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This allowed us to recognize and resolve integration difficulties early on. As the software became more ingrained in our operations, we gradually broadened its usage to cover our whole global labor force.
The automated features structured our payroll procedures, minimizing the time spent on manual estimations and compliance tracking. Routine training sessions and ongoing assistance from Papaya assisted our groups end up being competent users of the software, maximizing its capacity for our organization.
However, paying a labor force can be complicated. It is particularly challenging for business who use personnel throughout several nations, as they should continuously combine different data streams, manually track local and national labor and policies, and invest important time and resources to establish local entities in brand-new areas. These business are faced with suboptimal, expensive alternatives, like opening a foreign subsidiary or employing 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 employers reported problem hiring certified workers, a boost 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.
offers a service supporting all kinds of employment. It provides an end-to-end platform, from worker onboarding and continuous management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they operate, provides management of employment benefits, and ensures information personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading expert in payroll and workforce management. She co-founded after seeing the innovation space in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to go to the complete webcast in order to receive your credits if you have any concerns throughout the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your browser with the webcast study please be sure to complete 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 guideline attaining
360 degree staff member compliance where we’ll dive into the vital aspects of the employee compliance management model throughout the session we’ll check out real life difficulties genuine regional guidelines finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to secure your company and staff members while staying compliant in an
Ever developing regulative environment in the everchanging world of service and finance guaranteeing compliance with payroll policies is not just essential however likewise a legal vital from the moment of employing to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance dangers that have far-reaching consequences nevertheless with a much deeper more nuanced understanding of their commitments organizations can not just browse the detailed landscape however also proactively guarantee this 360 degree compliance the webinar is created to equip you with the knowledge and tools necessary to navigate the complex Surface of compliance whether you’re a skilled P professional a small company owner or someone new to the field what I want to do before we start and I believe it’s truly crucial
In our quest to enhance efficiency and accuracy in handling our global labor force, our multinational corporation turned to, a leading and labor force management software application. The shift intended to streamline the complex task of managing across numerous countries, currencies, and compliance policies.
One of the standout functions of is its robust compliance management system. The software application automatically updates itself to adhere to ever-evolving tax and labor laws across numerous jurisdictions. This has been invaluable in making sure that our processes remain compliant in each nation of operation.
is to state that the content here is illegal advice it is merely for your info 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 confidence how to streamline information management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
function as your hris or is type of your core employee record um to manage that staff member life cycle throughout their Journey with you as as a staff member in addition to a payroll module we need to assist you pay those employees and compensate them and benefits Administration module that permits you to assist handle the advantages you provide to your staff members so actually thrilled to be here represent um bamb booy container and discuss this topic um and I think from my point of view I’ll I’ll most likely offer a lot of a focus on the United States side of things when we discuss kind of compliance so delighted to be here thanks for having me Ian okay 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 Work expert manager.
at I handle the employment Council in the US APAC EMA and Israel area I also serve 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 provide payroll payments and workforce management as a Service work force company to workers serving in over.
160 countries all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were type of like going through the intro so it’s really actually good to actually see in the webinar chat where everyone’s really going to from today I can see that we have people in Las Vegas and Indiana currently so if you want to carry on tell where you are that would be definitely great whilst we just wait for everybody else to sort of like participate there we go Chicago too well um so whil we’re doing that I’m awaiting everyone to sort of join I’ll simply run us through the program um today we are going to discuss hiring Skill brand-new higher Info Management termination compliance and automation wow the chat has got truly truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over which is fantastic so uh I’m hoping that we’re actually going to have some truly excellent commentary and concerns throughout the uh the webinar too okay 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 information is Facebook Papaya Global complex without fail and an.
Ever progressing relationship that begins the moment a person joins an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous crucial stages whilst we’re really you know that they’re employed with us so on boarding day-to-day operations compensation and advantages expert advancement 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 gathering storing securing employee information in compliance with data personal privacy guidelines no matter where it is you’re running worldwide it frequently involves executing safe and secure data management systems and making sure rigorous adherence to local requirements to secure both the staff member and the company the advancement of staff member information and management c.