A CFO’s Viewpoint on How To Use Papaya Global…
Papaya Global’s platform streamlines international workforce management for companies, ensuring compliance with local guidelines and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes worldwide payroll operations, providing services with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of global company operations, managing payroll throughout borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a global business, I understand the important value of effective and compliant payroll management. In our pursuit of excellence, we have welcomed innovative services to enhance our procedures, and one such transformative tool is Software.
The Challenge of International Payroll:
International expansion produces diverse challenges, and payroll management is no exception. Differing tax guidelines, varying work laws, and numerous currencies make it necessary for companies to embrace advanced solutions to make sure precision, compliance, and performance in payroll processing.
Software: A Comprehensive Service:
staff members so it’s really basic to ensure that you’ve thought about from the start any post-termination restrictions that you want to put into the contract of work that they’re enforceable so that indicates you require to truly think of what it is you’re wanting to protect and why clearly Define what’s included within the scope of that secret information and deal with the duration of constraint post-determination that you want to apply and be truly able to to justify that in relation to copyright the position truly depends upon the type of intellectual property you’re aiming to secure and also the jurisdiction so for example from a copyright viewpoint in the Netherlands completion client is most 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 somewhere like Poland for example that automatic right may not be there and that assignment would need to flow through the chain uh contractually so it actually depends on the jurisdiction and the kind of IP okay thank you Elizabeth Steve was staying on the subject of contracts Miss classified misclassifying staff members
Papaya Global Software application has emerged as a game-changer in the world of global payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly user interface. As the CFO, I have witnessed firsthand the positive impact of on our organization’s monetary operations.
Unified Global Payroll Processing:
allows our company to procedure payroll flawlessly across multiple nations. The platform’s unified technique enables constant payroll estimations, reducing mistakes and making sure compliance with regional regulations. This has actually substantially reduced the threats connected with global payroll processing.
likewise key for if in the future somebody says misclassification you have your file supported by the requisite documents which the right examination tools to reveal someone that you had a thoughtful procedure therefore what do you need to include because process it’s the who the what the where and the when who are you dealing with are you dealing with a specific or are you dealing with an individual 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 contractor than a staff member so for instance accounting
I.T engineering the creatives these all provide 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 website and handled once again another key aspect is the management and guidance of the uh worker and then finally when is it a particular job is it a six-month project 6 years all of this is workable but it has to be recorded 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 improved it this year so that we can roll it out internationally these tools take a questionnaire list for the worker the worker completes and fills these concerns out and so does completion client or the recipient of the services they both put their information into the tool and then it does an examination waiting the different questions due to the fact that not every jurisdiction has the exact 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 worker yellow you’re on the cusp we can probably assist you with that in terms of some of the things you need to strengthen to make sure that you are considered that assessment of uh independent professional or green where you were evaluated as an as a independent specialist once that evaluation is done all the requisite documents are underneath it so that if in the future there
Navigating the complexities of global employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization current with modifications in policies throughout jurisdictions. This ensures that our payroll procedures adhere to the most recent requirements, reducing the danger of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal firms who assist us keep our databases totally approximately date and we also contact we require to when we see an uncommon or or especially intricate scenarios all right thanks Steve I can just see a fast concern in the Q a window yes the session will be recorded and sent out to participants afterwards um moving back to to the webinar itself Ray employer of record is regulated in a different way worldwide 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 countries and where the eor design isn’t regulated yes Ian employee leasing or labor leasing as it’s likewise called which prevails in several countries particularly in Europe enforces strict policies on items such as the length of project it also appoints employees to collective bargaining arrangements that gives them rights and advantages however even in the nations that do not have those stringent policies for example the UK Canada and the nordics there are policies for each nation and each employee is dealt with the same as all the other employees because nation and all those regulations need to be abided by all right thank you Ray um Kathy moving I would state to yourself what do companies require to consider when figuring out agreement status to safeguard themselves and the rights of hires what are the advantages and disadvantages of hiring professionals and Freelancers versus long-term employees so obviously the the benefit of contractors 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 constant comprehensive and a well-documented compliance
How To Use Papaya Global and Time Cost Savings:
The software’s automation capabilities have significantly decreased the time and effort required for payroll processing. Manual information entry and repeated jobs have been reduced, permitting our finance team to concentrate on strategic initiatives instead of administrative concerns. This has led to increased efficiency and performance within our monetary operations.
in one because 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 ideal information needs to be on the payslip in the right format and in the best position if you remain in breach of of policies for payslips the fines are provided per payslip so that’s each employee each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to worry to think of and we’re just two concerns in and 10 minutes or so hiring in one country is difficult enough however when employing in a you understand on a global level it’s a totally various story you require to make certain that you’re up to date with present along with pending local labor laws Steve um how do you make certain and ensure that individuals 2.0 team is on top of an ever-changing landscape which your clients are totally supported and I’ll arrange this into three crucial things we do in firstly you require to have the right group so we employ a team of international professionals in Work Practices um that ex that team of experts consists of attorneys it consists of payroll professionals it includes HR specialists and these are people that not just understand the laws in these in these nations and regions but they likewise know the languages they understand the regional practices they know the cultures and it’s important to have that best group and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers detailed real-time analytics and reporting tools. As a CFO, having access to accurate and timely monetary information is essential for decision-making. The platform’s reporting abilities empower me to make educated strategic decisions based upon real-time insights into our international payroll data.
application and its scope and the manner in which it applies to work law in practice can be tested through the judicial system by way of case law examples of that would be the gotten rights directive otherwise known as the 2p policies in the UK the working time regulations which has actually had various strands of that legislation evaluated 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 throughout the years so I think it’s really that constant advancement of the work law landscape that you truly need to navigate when when working in Europe okay thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each country has different policies but the United States is basically 50 countries
Scalability for Company Development:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software effortlessly accommodates modifications in our labor force and payroll requirements. This scalability ensures that our payroll facilities can adapt to the progressing requirements of our international organization.
International Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Look who is our senior vice president of client services and I would state individually and collectively these 3 individuals have Years of experience in in work law and global Work Practices so thank you it’s an enjoyment to be with everybody here today sounds like we have actually got the right people with us today and in in addition to to those well we likewise have among our own Stars delete share head of Global Solutions at papaya International tell us about yourself thank you Elin Ian hi my name is Elite I have actually been with the business 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 places on a personal element and related to our subject today I’ve had the chance to move and operate in 3 various nations it is the company’s responsibility to guarantee my protection while living in a foreign country compliance with regional laws and regulations is crucial for me or anyone else as an expat or as a local so today we have welcomed our relied on Partners people 2.0 to demonstrate the importance of local
knowledge when companies Go International thank you and enjoy okay thank you as I stated let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the questions you’ve been thinking about we’ll discuss the realities a company requires to think about when opening a brand-new entity and expanding into new nations as well as keeping things going we’ll cover aspects such as local guidelines considerations when working with compliance essential obstacles 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 bigger 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 numerous levels understanding regional regulations and local laws as well as company practices assists mitigate Associated and worldwide expansion papaya through our local experts can navigate possible threats such as intellectual property protection information personal privacy security concerns ensuring the business’s operations stay compliant and safe and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software has actually proven to be a vital asset in our mission for efficient and compliant worldwide payroll management. As the CFO of an international company, I am positive in recommending Papaya Global to organizations looking for to enhance their payroll processes, boost compliance, and attain higher performance in handling their international labor force. The software application’s innovative features and commitment to excellence align 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 also considerable legal costs there exists’s other charges there’s other costs behind that also so the total expense can be extremely substantial in the 10s of countless dollars or more and and those amounts are growing uh the reason companies are getting it so wrong is really just the guidelines are complex and they’re changing all the time believe ir-35 in the UK which has actually been an ongoing advancement for several years now and and still a lot of uncertainty among companies on what it truly indicates and how you handle it most employers are just not familiar with the guidelines and and act as if the the guidelines are the same all over which they’re not so so encourage you to to be very proactive as you’re engaging uh employees from a classification point of view okay thank you Stephen and moving back to yourself Ray it’s not only the company that suffers in the long run what results can this have on the staff member How To Use Papaya Global specifically when it concerns their own tax liabilities social security and advantages for example jury and obviously the employees the other side of the coin
I discover time and time again the employees often misclassified unconsciously they don’t comprehend the conditions of employment or agreement and are told by the customer why it’s optimum primarily to the customer why you need to be employed or participated in this style the employee may owe taxes and Social Security to the authorities the future pension and healthcare opportunities of the worker can be affected and several times it can be years before this all falls out and by that time it’s too late years have actually gone by they haven’t added to pensions Etc so it’s a big impact that they never ever understood they were strolling into you couldn’t agree with you more if you say the UK for example hmrc can go back as much as 10 years um Kathy business are getting insurance coverage versus misclassification but generally premiums are just covering the expense of legal costs whilst the average claim assessed versus employers relates to to 40 or 50 percent of the base salary of employee is there any point in securing insurance and what is the alternative yeah to your point um you do require to check out the small print it is not covering the taxes charge and interest in most cases I have not seen it at least 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 rejected coverage on the basis of the reality that you were not in compliance with laws um in the UK
Expense Factors to consider and How To Use Papaya Global …
The thorough functions of come at a cost,
Current years have actually seen a dramatic change to the workforce as the rise of remote work has broken down geographical barriers to working with. Organizations can now hire personnel from anywhere worldwide, permitting them to access the very best offered skill for any provided role. This gives employees more flexibility to work from home and increase their earnings without transferring to pricey areas or commuting long distances. A 2022 study discovered that 87% of workers who have the opportunity to work from another location take that opportunity. The break out of COVID-19, in conjunction with new business connectivity software, accelerated the transfer to remote work, including in industries previously reluctant to embrace the trend.
insights are important to us and and your fellow guests so first things initially though um let’s be familiar with everyone my name is Ian Charles and I have actually operated in payroll for the last 25 years I’ve had roles in all kind of Industries retail and Charm to Aerospace in all kinds of services startup to matrixed environments around the world I offered leadership and strategy to populations of more than 100,000 staff members on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work throughout business guy maning and building external relationships supporting Business clients and options and functioning as an advisor I want 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 said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal team and actually work really closely with our um HR department too to handle various legal and HR matters that turn up so really thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our mission is to set you as HR specialists complimentary to do great
While Papaya Global deals integrations with different HR and financing systems, the execution procedure was not without obstacles. Incorporating the software with our existing facilities required additional modification, resulting in some hold-ups in the initial rollout.
Paying FAQs How To Use Papaya Global 2024
and some smaller subsidiaries within our organization discovered the pricing to be on the higher side. As an international company, balancing the requirement for sophisticated functions with budget restraints became a fragile workout.
Customer Assistance Action Time:
There were instances where our groups dealt with problems that needed prompt help. However, the response time from’s consumer support team was not constantly as fast as desired, resulting in occasional hold-ups in issue resolution.
Our application of included a phased method. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This permitted us to recognize and deal with integration difficulties early on. As the software application became more ingrained in our operations, we slowly broadened its usage to cover our whole worldwide labor force.
The automated functions structured our payroll procedures, reducing the time invested in manual estimations and compliance tracking. Regular training sessions and continuous assistance from Papaya helped our groups become competent users of the software application, optimizing its potential for our company.
However, paying a labor force can be complex. It is especially challenging for business who employ personnel across multiple nations, as they need to constantly consolidate different information streams, by hand track regional and nationwide labor and guidelines, and spend important time and resources to establish regional entities in brand-new locations. These companies are faced with suboptimal, pricey alternatives, like opening a foreign subsidiary or working with a professional employment organization, which is a regional firm that hires employees on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble recruiting qualified personnel, 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.
offers a solution supporting all forms of work. It provides an end-to-end platform, from staff member onboarding and continuous management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, provides management of work advantages, and guarantees 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 professional in payroll and workforce management. She co-founded after seeing the technology space in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to participate in the total webcast in order to get your credits if you have any concerns 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 internet browser with the webcast study please make sure to finish it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hi and thank you for joining us today we’re enjoyed have you here as we start a journey of information to guideline accomplishing
360 degree worker compliance where we’ll dive into the essential aspects of the employee compliance management design throughout the session we’ll check out real world obstacles genuine local guidelines finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to safeguard your organization and staff members while staying compliant in an
Ever progressing regulatory environment in the everchanging world of service and finance ensuring compliance with payroll policies is not just crucial however likewise a legal crucial from the minute of working with to the in intri complexities even sorry of termination every step along the worker 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 browse the elaborate landscape but likewise proactively guarantee this 360 degree compliance the webinar is developed to equip you with the understanding and tools needed to navigate the complex Surface of compliance whether you’re a skilled P specialist a small business owner or somebody new to the field what I wish to do before we begin and I think it’s really crucial
In our mission to boost effectiveness and precision in handling our global labor force, our international corporation turned to, a leading and workforce management software application. The transition aimed to streamline the complex task of managing across various countries, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software application immediately updates itself to stick to ever-evolving tax and labor laws throughout several jurisdictions. This has been indispensable in making sure that our processes remain compliant in each country of operation.
is to state that the content here is not legal advice it is merely for your details please consult your legal team needs to you have any questions or concerns in relation to anything that we’ve talked about today our key take essential takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to employ ly with confidence how to simplify information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.
function as your hris or is kind of your core employee record um to handle that staff member 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 workers and compensate them and benefits Administration module that allows you to help manage the advantages you supply to your workers so really delighted to be here represent um bamb booy container and discuss this topic um and I guess from my point of view I’ll I’ll probably supply a lot of a concentrate on the United States side of things when we discuss kind of compliance so happy to be here thanks for having me Ian alright 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 professional manager.
at I handle the work Council in the US APAC EMA and Israel region I likewise act as us Council for I’m licensed in New York and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and labor force management as a Service labor force supplier to employees serving in over.
160 countries okay thank you so both I feel totally underqualified sitting here with you both well I forgot to mention as we were type of like going through the introduction so it’s actually actually good to really see in the webinar chat where everybody’s in fact attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you wish to continue inform where you are that would be absolutely fantastic whilst we just wait on everyone else to type of like take part there we go Chicago too well um so whil we’re doing that I’m awaiting everybody to sort of join I’ll simply run us through the program um today we are going to discuss hiring Skill brand-new higher Information Management termination compliance and automation wow the chat has actually got actually actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is great so uh I’m hoping that we’re in fact going to have some really excellent commentary and questions throughout the uh the webinar also alright so that’s the program then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their information is How To Use Papaya Global complex without fail and an.
Ever progressing relationship that starts the minute a person signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to several essential stages whilst we’re really you know that they’re used with us so on boarding everyday operations compensation and advantages expert development then we get to the offboarding and even advocacy so it even occurs after the worker has actually left your work throughout the journey organizations are responsible for gathering storing protecting worker information in compliance with data personal privacy guidelines no matter where it is you’re running around the world it frequently includes implementing safe information management systems and making sure stringent adherence to regional requirements to safeguard both the employee and the organization the advancement of worker information and management c.