A CFO’s Perspective on Papaya Global 1 401 398…
Papaya Global’s platform enhances international workforce management for companies, making sure compliance with regional policies and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and attendance tracking, and HR support. The platform centralizes international payroll operations, providing organizations with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of international business operations, handling payroll across borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a worldwide company, I comprehend the important significance of effective and compliant payroll management. In our pursuit of quality, we have actually welcomed ingenious services to improve our procedures, and one such transformative tool is Software.
The Challenge of International Payroll:
Global growth brings about varied difficulties, and payroll management is no exception. Differing tax policies, differing employment laws, and numerous currencies make it imperative for companies to adopt advanced options to make sure accuracy, compliance, and performance in payroll processing.
Software application: A Comprehensive Solution:
It is important to think about and consist of post-termination restrictions in the employment agreement to ensure enforceability. You should thoroughly identify what you are seeking to safeguard and clearly define the secret information that falls within its scope. In addition, specify the period of the post-termination limitation and be prepared to validate it in relation to copyright. The rules concerning copyright differ depending on the kind of IP and the jurisdiction. For instance, in the Netherlands, the end customer is likely to have copyright rights over works produced by workers under their supervision, while in Poland, contractual task may be needed.
Papaya Global Software application has emerged as a game-changer in the realm of worldwide payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly interface. As the CFO, I have witnessed firsthand the favorable effect of on our company’s monetary operations.
Unified International Payroll Processing:
enables our company to process payroll flawlessly throughout multiple countries. The platform’s unified approach enables constant payroll calculations, decreasing mistakes and guaranteeing compliance with regional regulations. This has considerably mitigated the dangers connected with worldwide payroll processing.
likewise crucial for if later someone states misclassification you have your file supported by the requisite files which the right evaluation tools to show somebody that you had a thoughtful process and so 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 an individual 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 provides itself more to being an independent contractor than a worker so for instance accounting
I.T crafting the creatives these all lend themselves more to that evaluation of being freelancer you understand also uh where are they doing it can they work from anywhere or do they have to be on site and managed once again another crucial element is the management and guidance of the uh employee and then finally when is it a specific project is it a six-month job 6 years all of this is manageable however it has to be recorded and it needs to be thoroughly um examined so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out internationally these tools take a questionnaire list for the employee the employee completes and fills these questions out therefore does completion client or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the different concerns since not every jurisdiction has the same sensation about a few of these concerns some believe they’re more vital than others and it comes out with a red yellow or green red you’re probably a staff member yellow you’re on the cusp we can probably help you with that in regards to a few of the important things you need to boost to make certain that you are considered that examination of uh independent contractor or green where you were evaluated as an as a independent specialist once that examination is done all the requisite documents are underneath it so that if later there
Browsing the intricacies of worldwide employment laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our company up-to-date with changes in policies throughout jurisdictions. This guarantees that our payroll procedures follow the most recent requirements, reducing the risk of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal companies who assist us keep our databases totally up to date and we likewise call on we need to when we see an uncommon or or particularly intricate scenarios alright thanks Steve I can simply see a quick question in the Q a window yes the session will be tape-recorded and sent out to participants afterwards um moving back to to the webinar itself Ray company of record is controlled differently around the globe and the German law for instance it’s classed as worker leasing can you shed any light on some of the unique considerations for countries and where the eor design isn’t controlled yes Ian worker leasing or labor leasing as it’s likewise called which is prevalent in numerous nations particularly in Europe enforces stringent guidelines on items such as the length of task it also appoints workers to collective bargaining contracts that gives them rights and advantages however even in the countries that do not have those strict regulations for example the UK Canada and the nordics there are policies for each nation and each worker is dealt with the like all the other employees in that country and all those regulations require to be complied with all right thank you Ray um Kathy moving I would state to yourself what do business need to factor in when identifying agreement status to protect themselves and the rights of hires what are the benefits and drawbacks of working with professionals and Freelancers versus long-term staff members so clearly the the benefit of contractors versus staff members is the the flexibility for both the worker and for the company um however I can’t stress enough how essential it is to have a consistent thorough and a well-documented compliance
Papaya Global 1 401 398 and Time Savings:
The software’s automation abilities have actually considerably minimized the time and effort needed for payroll processing. Handbook information entry and recurring tasks have been minimized, permitting our finance group to focus on tactical efforts instead of administrative concerns. This has actually resulted in increased effectiveness and performance within our financial operations.
in one because each state has its own regulations Californians are some of the most stringent an example is pay slips on a payslip in California the best info has to be on the payslip in the ideal format and in the ideal position if you’re in breach of of regulations for payslips the fines are issued per payslip so that’s each staff member each pay slip will incur a great thanks Ray thank you Elizabeth a lot to stress to think about and we’re just two concerns in and 10 minutes approximately hiring in one nation is difficult enough however when employing in a you understand on a global level it’s a totally various story you need to make sure that you depend on date with existing along with pending local labor laws Steve um how do you make sure and ensure that the people 2.0 group is on top of an ever-changing landscape and that your customers are fully supported and I’ll arrange this into 3 crucial things we do in firstly you require to have the ideal team so we hire a team of worldwide professionals in Employment Practices um that ex that team of experts consists of attorneys it includes payroll experts it consists of HR specialists and these are people that not only know the laws in these in these nations and regions but they likewise understand the languages they know the regional practices they understand the cultures and it is very important to have that ideal group and truly have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to precise and timely financial information is vital for decision-making. The platform’s reporting abilities empower me to make educated tactical choices based on real-time insights into our international payroll data.
application and its scope and the way that it applies to work law in practice can be evaluated through the judicial system by way of case law examples of that would be the obtained rights instruction otherwise known as the 2p guidelines in the UK the working time policies which has actually had numerous hairs of that legislation tested especially around vacation pay and obviously as Kathy’s going to come on to discuss later on employment status which there’s been multiple precedence set for many years so I think it’s actually that constant evolution of the work law landscape that you actually need to browse when when working in Europe all right thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each nation has different regulations but the United States is basically 50 countries
Scalability for Company 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 seamlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll facilities 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 client services and I would say separately and jointly these 3 individuals 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 sounds like we have actually got the right people with us today and in in addition to to those well we likewise have one of our own Stars delete share head of Global Provider at papaya Global inform us about yourself thank you Elin Ian hi my name is Elite I’ve been with the business for around 4 and a half years as head of Collaborations I have developed Papaya’s network of in-country Partners in over 160 places on an individual element and related to our subject today I have actually had the chance to relocate and work in 3 different countries it is the business’s responsibility to guarantee my defense 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 regional so today we have actually invited our trusted Partners people 2.0 to show the importance of local
proficiency when companies Go International thank you and delight 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 questions you have actually been considering we’ll talk about the truths a business needs to think about when opening a new entity and expanding into new nations as well as keeping things going we’ll cover aspects such as regional policies factors to consider when employing compliance essential difficulties 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 larger a business grows the more they require to comprehend and handle knowing what to do in each new situation as it increases is very important on numerous levels comprehending regional regulations and regional laws in addition to service practices assists reduce Associated and global expansion papaya through our local experts can browse potential risks such as copyright protection information personal privacy security concerns making sure the business’s operations remain compliant and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software application has shown to be a vital property in our mission for effective and compliant global payroll management. As the CFO of a global business, I am positive in advising Papaya Global to organizations seeking to enhance their payroll procedures, boost compliance, and accomplish greater performance in handling their worldwide workforce. The software’s ingenious functions and dedication to quality line up with our tactical objectives, making it an important part of our financial operations.
I discover time and time again the employees frequently misclassified unconsciously they don’t understand the conditions of work or agreement and are told by the client why it’s optimum primarily to the customer why you need to be utilized or engaged in this style the employee might 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 far too late years have actually gone by they haven’t contributed to pensions And so on so it’s a huge impact that they never ever 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 business are taking out insurance versus misclassification however normally premiums are just covering the cost of legal charges whilst the average claim examined versus companies relates to to 40 or 50 percent of the base pay of employee is there any point in taking out insurance coverage and what is the alternative yeah to your point um you do need to check out the small print it is not covering the taxes penalty and interest most of the times I have not seen it a minimum of so uh the the other location 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 rejected coverage on the basis of the truth that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global 1 401 398 …
The extensive features of come at an expense,
Over the past couple of years, the labor force has undergone a significant transformation with the emergence of remote work, which has eliminated geographical restrictions on hiring. This has enabled services to hire skill from all over the world, enabling them to put together the very best possible team for each role. As a result, employees have acquired higher versatility to work from home and increase their earnings without having to relocate to expensive locations or commute cross countries. According to a 2022 study, 87% of employees who have the alternative to work remotely choose to do so. The COVID-19 pandemic, combined with improvements in business connection software application, has further sped up the shift towards remote work, even in industries that were initially hesitant to adopt the trend.
insights are important to us and and your fellow attendees so first things first though um let’s get to know everyone my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had functions in all sort of Industries retail and Beauty to Aerospace in all types of companies start-up to matrixed environments around the world I supplied management and technique to populations of more than 100,000 employees on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
International I work across the business male maning and constructing external relationships supporting Enterprise customers and solutions and acting as an advisor I want to introduce our very first Greg um visitor Greg who will kick things off by telling 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 internal legal group and really work really carefully with our um HR department too to deal with different legal and HR matters that show up so really delighted to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our mission is to set you as HR professionals totally free to do fantastic
While Papaya Global offers combinations with numerous HR and finance systems, the application procedure was not without difficulties. Integrating the software application with our existing infrastructure required extra customization, leading to some delays in the initial rollout.
Paying FAQs Papaya Global 1 401 398 2024
and some smaller sized subsidiaries within our company discovered the prices to be on the higher side. As an international business, stabilizing the requirement for sophisticated functions with spending plan constraints became a delicate workout.
Customer Support Action Time:
There were circumstances where our groups dealt with issues that needed timely support. Nevertheless, the reaction time from’s customer assistance team was not constantly as fast as desired, resulting in periodic hold-ups in concern resolution.
Our execution of involved a phased method. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This allowed us to identify and address integration challenges early on. As the software ended up being more implanted in our operations, we gradually expanded its use to cover our entire international labor force.
The automated features streamlined our payroll procedures, decreasing the time invested in manual estimations and compliance tracking. Regular training sessions and continuous support from Papaya helped our groups end up being proficient users of the software application, maximizing its potential for our organization.
Business that employee workers throughout multiple countries often face complex difficulties when it concerns handling their workforce. One of the greatest difficulties is combining various information streams and adhering to diverse local and nationwide labor regulations, which can be both time-consuming and pricey. Furthermore, establishing regional entities in new areas can be an expensive and suboptimal choice, with alternatives such as opening a foreign subsidiary or employing a professional employment organization (PEO) typically charging up to 15% of the payroll. These challenges have actually caused a considerable boost in difficulty recruiting certified personnel, with 75% of employers reporting this concern in 2022, a 21% increase from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
uses a service supporting all kinds of employment. It provides an end-to-end platform, from employee onboarding and ongoing 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 ensures data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading professional in payroll and labor force management. She co-founded after seeing the innovation space in international.
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 receive your credits if you have any questions 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 study please make sure to finish it as quickly as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hey there and thank you for joining us today we’re thrilled to have you here as we start a journey of data to guideline attaining
360 degree employee compliance where we’ll dive into the important aspects of the staff member compliance management design throughout the session we’ll check out real life obstacles real regional regulations finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to protect your organization and staff members while remaining compliant in an
Ever progressing regulatory environment in the everchanging world of business and financing ensuring compliance with payroll guidelines is not only essential but likewise a legal crucial 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 repercussions however with a deeper more nuanced understanding of their responsibilities companies can not only browse the detailed landscape however also proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools essential to browse the complex Terrain of compliance whether you’re a skilled P professional a small company owner or somebody brand-new to the field what I want to do before we begin and I think it’s truly essential
In our quest to boost effectiveness and precision in managing our global workforce, our international corporation turned to, a leading and labor force management software. The shift aimed to streamline the complex job of handling throughout various nations, currencies, and compliance guidelines.
Among the standout features of is its robust compliance management system. The software application instantly updates itself to stick to ever-evolving tax and labor laws across numerous jurisdictions. This has been indispensable in ensuring that our processes remain compliant in each country of operation.
is to state that the content here is not legal suggestions it is just for your details please consult your legal group must you have any concerns or concerns in relation to anything that we have actually gone over today our key take crucial takeaways by the end of the webinar will be an understanding of employee compliance dangers how to employ 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.
serve 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 an employee in addition to a payroll module we need to assist you pay those workers and compensate them and benefits Administration module that permits you to help handle the benefits 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 perspective 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 delighted to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a little bit about papay international yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Work professional 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 make sure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service labor force company to workers serving in over.
160 nations okay thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were type of like going through the introduction so it’s actually actually nice to really see in the webinar chat where everybody’s actually attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to continue tell where you are that would be definitely great whilst we simply wait for everyone else to kind of like take part there we go Chicago too well um so whil we’re doing that I’m awaiting everybody to kind of join I’ll simply run us through the agenda um today we are going to talk about hiring Talent new higher Information Management termination compliance and automation wow the chat has actually got actually truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is fantastic so uh I’m hoping that we’re actually going to have some really fantastic commentary and concerns throughout the uh the webinar also alright so that’s the agenda then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of an employee and their information is Papaya Global 1 401 398 complex without fail and an.
Ever evolving relationship that begins the minute an individual joins an organization it continues throughout their employment and Beyond this journey can be divided into k to a number of essential phases whilst we’re actually you know that they’re utilized with us so on boarding daily operations compensation and benefits professional development then we get to the offboarding and even advocacy so it even happens after the employee has left your employment throughout the journey companies are accountable for collecting storing protecting staff member information in compliance with data personal privacy guidelines no matter where it is you’re running around the globe it frequently includes executing secure information management systems and ensuring strict adherence to regional requirements to secure both the staff member and the company the evolution of staff member data and management c.