A CFO’s Perspective on Papaya Global 123…
The platform allows business to manage their global workforce and abide by local work guidelines and tax laws. Papaya Global provides a variety of services, including payroll management, benefits administration, compliance management, time and presence tracking, and HR management. The platform is developed to simplify the intricacies of global payroll and provide real-time presence and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New york city, London, and Kiev.
In the vibrant landscape of global company operations, managing payroll throughout borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a global business, I comprehend the critical importance of efficient and compliant payroll management. In our pursuit of quality, we have embraced ingenious options to improve our processes, and one such transformative tool is Software application.
The Difficulty of Worldwide Payroll:
Global growth produces diverse difficulties, and payroll management is no exception. Differing tax policies, varying employment laws, and numerous currencies make it vital for organizations to embrace sophisticated services to make sure accuracy, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Solution:
staff members so it’s truly fundamental to make sure that you’ve thought about from the outset any post-termination restrictions that you want to take into the agreement of work that they’re enforceable so that implies you need to really consider what it is you’re looking to secure and why plainly Define what’s included within the scope of that confidential information and deal with the duration of restriction post-determination that you want to apply and be actually able to to justify that in relation to intellectual property the position actually depends upon the type of intellectual property you’re seeking to secure and also the jurisdiction so for instance from a copyright viewpoint in the Netherlands completion client is more likely to have the um copyright rights in a copyright that the workers produced who’s been under their guidance and control immediately nevertheless in somewhere like Poland for example that automated right might not exist which task would need to flow through the chain uh contractually so it really depends upon the jurisdiction and the type of IP alright thank you Elizabeth Steve was staying on the topic of agreements Miss categorized misclassifying workers
Papaya Global Software has become a game-changer in the realm of global payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have witnessed firsthand the favorable effect of on our company’s monetary operations.
Unified Global Payroll Processing:
allows our business to process payroll flawlessly throughout several nations. The platform’s unified approach enables consistent payroll calculations, decreasing errors and guaranteeing compliance with local guidelines. This has substantially alleviated the dangers related to global payroll processing.
also essential for if later on someone says misclassification you have your file supported by the requisite documents and that the right assessment tools to reveal someone that you had a thoughtful procedure therefore what do you have to include because procedure it’s the who the what the where and the when who are you handling are you dealing with a private or are you handling a personal Service Corporation and how are they running what are they doing is it the type of work that provides itself more to being an independent contractor than a worker so for example accounting
I.T crafting the creatives these all provide themselves more to that assessment of being freelancer you know also uh where are they doing it can they work from anywhere or do they have to be on site and handled once again another essential factor is the management and guidance of the uh employee and after that lastly when is it a specific task is it a six-month task 6 years all of this is workable but it needs to be recorded and it has to be completely um examined so we have a tool we call it ic2 we had an ic1 and we’ve improved it this year so that we can roll it out globally these tools take a survey list for the employee the worker submits and fills these concerns out and so does completion customer or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the different concerns due to the fact that not every jurisdiction has the exact same sensation about a few of these questions some think they’re more vital 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 probably help you with that in terms of a few of the things you require to boost to make certain that you are considered that assessment of uh independent contractor or green where you were assessed as an as a independent contractor once that evaluation is done all the requisite documents are beneath it so that if in the future there
Browsing the intricacies of international employment laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our company up-to-date with changes in policies across jurisdictions. This ensures that our payroll procedures comply with the latest requirements, lessening 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 entirely approximately date and we likewise get in touch with we require to when we see an unusual or or especially complicated scenarios fine thanks Steve I can simply see a quick concern in the Q a window yes the session will be taped and sent out to guests afterwards um moving back to to the webinar itself Ray company of record is regulated differently around the globe and the German law for instance it’s classed as worker leasing can you shed any light on a few of the special 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 a number of countries especially in Europe enforces rigorous policies on items such as the length of task it also designates employees to collective bargaining contracts that provides rights and advantages but even in the nations that don’t have those stringent regulations for instance the UK Canada and the nordics there are regulations for each country and each employee is dealt with the like all the other employees in that nation and all those regulations need to be abided by alright thank you Ray um Kathy moving I would say to yourself what do companies require to consider when identifying contract status to protect themselves and the rights of hires what are the benefits and drawbacks of working with professionals and Freelancers versus permanent employees so clearly the the advantage of contractors versus staff members is the the versatility for both the worker and for the company um but I can’t worry enough how important it is to have a consistent thorough and a well-documented compliance
Papaya Global 123 and Time Savings:
The software application’s automation capabilities have actually significantly minimized the time and effort needed for payroll processing. Handbook information entry and repeated jobs have actually been lessened, permitting our financing group to focus on tactical efforts rather than administrative concerns. This has actually resulted in increased efficiency and productivity within our financial operations.
in one considering that 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 needs to be on the payslip in the right format and in the ideal position if you remain in breach of of guidelines for payslips the fines are issued per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to consider and we’re just 2 concerns in and 10 minutes or two hiring in one nation is tough enough however when hiring 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 existing in addition to pending local labor laws Steve um how do you ensure and guarantee 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 three crucial things we perform in most importantly you require to have the right group so we work with a group of global professionals in Work Practices um that ex that team of specialists includes lawyers it consists of payroll professionals it includes HR professionals and these are people that not just understand the laws in these in these nations and regions but they also know the languages they know the regional practices they know the cultures and it is necessary to have that right group and genuinely have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies extensive real-time analytics and reporting tools. As a CFO, having access to accurate and prompt monetary information is important for decision-making. The platform’s reporting abilities empower me to make educated tactical choices based upon real-time insights into our international payroll information.
The useful application and extent of the application to work law can be evaluated through the legal system utilizing case law examples. For example, the acquired rights regulation, likewise called the 2p guidelines in the UK, and the working time policies have undergone numerous legal analyses, particularly regarding holiday pay. In addition, the principle of work status has seen several legal precedents over the
Scalability for Business Growth:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software application perfectly accommodates changes in our workforce and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the developing requirements of our international 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 Look who is our senior vice president of client services and I would state separately and collectively these 3 individuals have Decades of experience in in employment law and international Work Practices so thank you it’s an enjoyment to be with everyone here today sounds like we’ve got the right people with us today and in in addition to to those well we also have one of our own Stars erase share head of Global Services at papaya Global tell us about yourself thank you Elin Ian hello my name is Elite I have actually been with the company for around four and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 locations on a personal 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 ensure my protection while living in a foreign country compliance with regional laws and policies is crucial for me or anyone else as an expat or as a regional so today we have invited our trusted Partners people 2.0 to show the importance of regional
know-how when business Go Global thank you and enjoy okay thank you as I said let’s move on to the pact agenda today’s webinar is a chance to ask the panel the concerns you have actually been thinking about we’ll discuss the truths a business needs to think about when opening a new entity and expanding into brand-new nations in addition to keeping things going we’ll cover aspects such as regional regulations considerations when working with compliance crucial challenges payments and what not to do it’s one of the most important things remembering what not to do um operating on an international level is not for the faint-hearted the larger a company grows the more they require to understand and handle knowing what to do in each brand-new situation as it increases is necessary on lots of levels comprehending regional regulations and regional laws in addition to service practices helps mitigate Associated and international expansion papaya through our local experts can navigate possible threats such as intellectual property security information personal privacy security issues ensuring the business’s operations stay compliant and protected tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software application has actually shown to be an invaluable property in our mission for efficient and certified worldwide payroll management. As the CFO of a worldwide business, I am confident in recommending Papaya Global to organizations looking for to enhance their payroll procedures, enhance compliance, and achieve greater effectiveness in managing their worldwide labor force. The software’s ingenious functions and commitment to quality align with our strategic goals, making it an important part of our monetary operations.
I discover time and time again the workers frequently misclassified unconsciously they do not comprehend the conditions of work or agreement and are informed by the customer why it’s optimum primarily to the client why you ought to be used or participated in this fashion 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 several times it can be years before this all falls out and by that time it’s too late years have passed they have not contributed to pensions Etc so it’s a huge impact that they never knew they were strolling into you couldn’t agree with you more if you say the UK for example hmrc can return as much as ten years um Kathy companies are getting insurance coverage versus misclassification but normally premiums are just covering the cost of legal costs whilst the typical claim examined against employers relates to to 40 or 50 percent of the base pay of employee is there any point in securing insurance and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes penalty and interest in most cases I haven’t 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 stuff you could be denied coverage on the basis of the reality that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global 123 …
The comprehensive features of come at an expense,
Current decades have actually seen a dramatic change to the labor force as the rise of remote work has broken down geographical barriers to hiring. Companies can now hire personnel from anywhere worldwide, permitting them to access the best offered talent for any offered function. This offers employees more freedom to work from home and increase their income without moving to pricey locations or commuting fars away. A 2022 survey discovered that 87% of workers who have the opportunity to work remotely take that chance. The break out of COVID-19, in conjunction with new business connectivity software, sped up the move to remote work, consisting of in industries formerly reluctant to accept the pattern.
insights are valuable to us and and your fellow participants so first things first though um let’s be familiar with everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had functions in all kind of Industries retail and Beauty to Aerospace in all types of businesses start-up to matrixed environments around the world I offered management 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 throughout the business male maning and building external relationships supporting Business customers and services and functioning as an advisor I ‘d like to introduce our very first Greg um visitor Greg who will kick things off by telling 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 business counsil at bambo HR so I lead our internal legal team and really work really closely with our um HR department as well to manage various legal and HR matters that come up so truly excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our objective is to set you as HR specialists complimentary to do excellent
Although Papaya Global offers combinations with various HR and financing systems, we encountered some hurdles throughout the integration procedure. Tailoring the software application to align with our existing infrastructure proved to be more complex than prepared for, leading to delays in the initial rollout.
The comprehensive functions provided by Papaya Global come at a cost, which some of our smaller sized subsidiaries discovered to be prohibitively pricey. As a worldwide organization, we needed to carefully weigh the need for advanced functionality versus budget restrictions.
Support Reaction Time:
On occasion, our groups experienced issues that required urgent help. Nevertheless, the action time from Papaya Global’s client support group was not constantly as prompt as we would have liked, causing delays in solving those issues.
Our implementation of included a phased method. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing processes. This enabled us to identify and address integration challenges early on. As the software ended up being more instilled in our operations, we slowly broadened its usage to cover our whole international workforce.
The automated functions structured our payroll processes, decreasing the time spent on manual computations and compliance tracking. Regular training sessions and ongoing assistance from Papaya assisted our teams end up being skilled users of the software, maximizing its potential for our company.
Business that staff member workers across numerous nations frequently face intricate challenges when it pertains to managing their labor force. Among the most significant obstacles is consolidating various data streams and sticking to varied local and nationwide labor regulations, which can be both time-consuming and costly. Furthermore, establishing local entities in new areas can be a pricey and suboptimal choice, with alternatives such as opening a foreign subsidiary or hiring a professional employment organization (PEO) often charging up to 15% of the payroll. These challenges have actually caused a significant increase in trouble recruiting certified workers, with 75% of companies reporting this problem in 2022, a 21% increase from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
uses a service supporting all forms of employment. It offers an end-to-end platform, from staff member onboarding and continuous management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they run, uses management of work benefits, and ensures 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 workforce management. She co-founded after seeing the technology space in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to go to 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 web browser with the webcast survey 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 hello and thank you for joining us today we’re enjoyed have you here as we start a journey of information to regulation accomplishing
360 degree worker compliance where we’ll dive into the necessary aspects of the employee compliance management model throughout the session we’ll check out real world challenges real local policies best practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to secure your organization and employees while staying certified in an
Ever evolving regulatory environment in the everchanging world of service and finance ensuring compliance with payroll policies is not just important however likewise a legal important from the minute of employing to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance dangers that have significant effects nevertheless with a much deeper more nuanced understanding of their responsibilities companies can not just browse the detailed landscape however also proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools essential to navigate the complex Surface of compliance whether you’re a skilled P professional a small business owner or someone brand-new to the field what I wish to do before we start and I believe it’s truly crucial
In our mission to boost performance and accuracy in handling our international labor force, our international corporation turned to, a leading and labor force management software. The shift aimed to simplify the complex job of managing throughout different countries, currencies, and compliance regulations.
Among the standout functions of is its robust compliance management system. The software application instantly updates itself to comply with ever-evolving tax and labor laws across numerous jurisdictions. This has actually been invaluable in guaranteeing that our processes remain certified in each nation of operation.
is to state that the content here is illegal recommendations it is simply for your information please consult your legal group ought to you have any concerns or issues in relation to anything that we have actually discussed today our key take crucial takeaways by the end of the webinar will be an understanding of worker compliance dangers how to hire ly with confidence how to streamline data management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we’ve.
function as your hris or is sort of your core worker record um to handle that worker life cycle throughout their Journey with you as as an employee in addition to a payroll module we have to assist you pay those employees and compensate them and advantages Administration module that permits you to assist manage the benefits you supply to your staff members so truly thrilled to be here represent um bamb booy container and speak about this subject um and I guess from my point of view I’ll I’ll most likely supply a lot of a focus on the US side of things when we discuss type of compliance so happy 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 international yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Employment expert manager.
at I handle the work Council in the US APAC EMA and Israel area I also 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 offer payroll payments and labor force management as a Service labor force company to workers serving in over.
160 nations fine thank you so both I feel totally underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the intro so it’s actually actually nice to really see in the webinar chat where everyone’s really attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to carry on inform where you are that would be definitely fantastic whilst we simply wait for everybody else to sort of like participate in there we go Chicago also well um so whil we’re doing that I’m waiting for everyone to kind of join I’ll simply run us through the program um today we are going to go over working with Talent brand-new greater Details Management termination compliance and automation wow the chat has actually got really really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely everywhere which is fantastic so uh I’m hoping that we’re in fact going to have some really fantastic commentary and questions 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 Personal privacy side of things so the the Journey of a staff member and their data is Papaya Global 123 diverse without fail and an.
Ever progressing relationship that begins the minute a person joins an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous essential stages whilst we’re actually you understand that they’re employed with us so on boarding day-to-day operations payment and advantages expert development then we get to the offboarding and even advocacy so it even takes place after the staff member has left your employment throughout the journey companies are responsible for gathering keeping securing employee information in compliance with data personal privacy guidelines no matter where it is you’re operating around the globe it typically includes executing protected information management systems and ensuring rigorous adherence to regional requirements to safeguard both the staff member and the company the advancement of employee data and management c.