A CFO’s Point of view on Papaya Global 2018 19…
Papaya Global’s platform simplifies global labor force management for business, making sure compliance with local policies and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes global payroll operations, supplying businesses with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of global organization operations, handling payroll across borders can be a complex and tough job. As the Chief Financial Officer (CFO) of a global business, I comprehend the vital importance of effective and compliant payroll management. In our pursuit of quality, we have actually accepted innovative services to enhance our processes, and one such transformative tool is Software.
The Obstacle of International Payroll:
International growth brings about diverse challenges, and payroll management is no exception. Differing tax guidelines, differing employment laws, and numerous currencies make it essential for companies to adopt advanced solutions to ensure accuracy, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Option:
staff members so it’s really basic to ensure that you’ve considered from the outset any post-termination limitations that you want to take into the contract of employment that they’re enforceable so that implies you require to actually think of what it is you’re wanting to protect and why clearly Define what’s consisted of within the scope of that secret information and deal with the period of constraint post-determination that you wish to apply and be really able to to validate that in relation to copyright the position actually depends upon the type of copyright you’re wanting to safeguard and likewise the jurisdiction so for example from a copyright point of view in the Netherlands completion client is most likely to have the um copyright rights in a copyright that the employees produced who’s been under their supervision and control automatically however in someplace like Poland for example that automated right may not be there and that assignment would need to stream through the chain uh contractually so it actually depends upon the jurisdiction and the type of IP alright thank you Elizabeth Steve was staying on the subject of agreements Miss classified misclassifying employees
Papaya Global Software has actually emerged as a game-changer in the world of global payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, easy to use interface. As the CFO, I have seen firsthand the favorable effect of on our organization’s financial operations.
Unified Worldwide Payroll Processing:
allows our company to process payroll flawlessly across multiple nations. The platform’s unified technique permits consistent payroll computations, minimizing errors and making sure compliance with regional regulations. This has substantially reduced the dangers associated with worldwide payroll processing.
likewise key for if later on somebody states misclassification you have your file supported by the requisite documents and that the ideal evaluation tools to reveal someone that you had a thoughtful procedure therefore what do you have to include in that procedure it’s the who the what the where and the when who are you handling are you handling a private or are you handling 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 professional than a staff member so for example 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 managed once again another key element is the management and supervision of the uh worker and after that finally when is it a specific job is it a six-month project 6 years all of this is workable but it has to be documented 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 internationally these tools take a survey list for the worker the employee submits and fills these questions out and so does completion client or the recipient of the services they both put their details into the tool and then it does an evaluation waiting the different questions due to the fact that not every jurisdiction has the very same feeling about a few 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 an employee yellow you’re on the cusp we can most likely assist you with that in terms of some of the important things you need to strengthen to ensure that you are considered that examination of uh independent professional or green where you were evaluated as an as a independent professional once that evaluation is done all the requisite documents are beneath it so that if later on there
Browsing the complexities of international work laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in policies across jurisdictions. This ensures that our payroll processes stick to the most recent standards, reducing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal companies who help us keep our databases totally up to date and we also get in touch with we require to when we see an unusual or or particularly complicated scenarios alright thanks Steve I can simply see a quick question in the Q a window yes the session will be taped and sent out to attendees afterwards um moving back to to the webinar itself Ray employer of record is managed in a different way around the globe and the German law for example it’s classified as staff member leasing can you shed any light on some of the special factors to consider for countries and where the eor design isn’t controlled yes Ian worker leasing or labor leasing as it’s likewise called which prevails in numerous nations specifically in Europe enforces strict policies on items such as the length of assignment it likewise appoints employees to collective bargaining agreements that provides rights and advantages but even in the countries that don’t have those stringent policies for example the UK Canada and the nordics there are guidelines for each nation and each worker is treated the like all the other employees in that country and all those guidelines need to be followed okay thank you Ray um Kathy moving I would say to yourself what do companies need to factor in when identifying contract status to safeguard themselves and the rights of hires what are the benefits and drawbacks of employing contractors and Freelancers versus irreversible staff members so undoubtedly the the benefit of contractors versus workers is the the versatility for both the worker and for the employer um but I can’t worry enough how essential it is to have a consistent extensive and a well-documented compliance
Papaya Global 2018 19 and Time Cost Savings:
The software’s automation abilities have actually considerably reduced the time and effort required for payroll processing. Handbook data entry and repeated tasks have been minimized, allowing our finance group to focus on tactical initiatives rather than administrative concerns. This has actually led to increased effectiveness and performance within our financial operations.
in one because each state has its own guidelines Californians are a few of the most strict an example is pay slips on a payslip in California the best info has to be on the payslip in the right format and in the ideal position if you’re in breach of of guidelines for payslips the fines are provided per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to worry to think of and we’re just 2 questions in and 10 minutes approximately hiring in one nation is challenging enough however when working with in a you understand on an international level it’s a totally different story you require to make sure that you’re up to date with current in addition to pending regional labor laws Steve um how do you make certain and guarantee that the people 2.0 team is on top of an ever-changing landscape and that your customers are totally supported and I’ll organize this into 3 essential things we do in first and foremost you need to have the ideal team so we work with a group of global specialists in Employment Practices um that ex that group of experts includes legal representatives it includes payroll professionals it includes HR experts and these are people that not only know the laws in these in these countries and areas but they also know the languages they know the local practices they understand the cultures and it is necessary to have that ideal team and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides detailed real-time analytics and reporting tools. As a CFO, having access to precise and timely financial data is important for decision-making. The platform’s reporting abilities empower me to make informed tactical choices based upon real-time insights into our international payroll data.
The useful application and extent of the application to work law can be assessed through the legal system using case law examples. For instance, the gotten rights instruction, likewise known as the 2p regulations in the UK, and the working time policies have been subject to various legal interpretations, particularly concerning holiday pay. In addition, the idea of employment status has actually seen numerous legal precedents over the
Scalability for Company Development:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into brand-new markets, the software seamlessly accommodates modifications in our labor force and payroll requirements. This scalability makes sure that our payroll facilities can adjust to the developing requirements of our global company.
Global Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Gander who is our senior vice president of customer service and I would say separately and jointly these 3 people have Decades of experience in in work law and worldwide 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 business for around 4 and a half years as head of Partnerships I have actually developed Papaya’s network of in-country Partners in over 160 areas on a personal element and related to our subject today I’ve had the chance to transfer and operate in three different countries it is the business’s obligation to ensure my security while residing in a foreign nation compliance with regional laws and regulations is crucial for me or anyone else as an expat or as a local so today we have invited our relied on Partners individuals 2.0 to demonstrate the significance of local
expertise when companies Go Worldwide thank you and delight in okay thank you as I said let’s proceed to the pact program today’s webinar is a chance to ask the panel the questions you have actually been thinking of we’ll discuss the facts a business needs to think about when opening a new entity and expanding into new nations in addition to keeping things going we’ll cover elements such as local 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 a worldwide level is not for the faint-hearted the larger a company grows the more they require to comprehend and manage understanding what to do in each brand-new situation as it increases is important on numerous levels comprehending regional guidelines and local laws along with organization practices helps mitigate Associated and global growth papaya through our local experts can browse potential risks such as intellectual property protection information personal privacy security concerns guaranteeing the company’s operations stay certified and protected tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software application has actually proven to be an invaluable possession in our quest for efficient and certified global payroll management. As the CFO of an international company, I am confident in advising Papaya Global to organizations looking for to improve their payroll procedures, improve compliance, and accomplish higher effectiveness in handling their international workforce. The software’s ingenious functions and commitment to excellence line up with our strategic goals, making it an important part of our financial 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 considerable legal costs there’s there’s other penalties there’s other costs behind that also so the total cost can be extremely considerable in the tens of millions of dollars or more and and those quantities are growing uh the reason business are getting it so wrong is really simply the guidelines are complicated and they’re changing all the time think ir-35 in the UK which has been an ongoing development for a number of years now and and still a lot of uncertainty amongst companies on what it really indicates and how you handle it most companies are just not familiar with the guidelines and and act as if the the rules are the same everywhere which they’re not so so motivate you to to be very proactive as you’re engaging uh workers from a classification viewpoint all right thank you Stephen and moving back to yourself Ray it’s not just the business that suffers in the long run what effects can this have on the worker Papaya Global 2018 19 specifically when it comes to their own tax liabilities social security and benefits for example jury and certainly 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 work or agreement and are informed by the customer why it’s optimum generally to the customer why you need to be used or participated in this fashion the employee might owe taxes and Social Security to the authorities the future pension and healthcare privileges of the employee 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 passed they haven’t contributed to pensions And so on so it’s a big effect that they never ever understood they were strolling into you could not agree with you more if you say the UK for example hmrc can go back as much as 10 years um Kathy companies are securing insurance coverage against misclassification but normally premiums are just covering the cost of legal charges whilst the average claim evaluated versus companies relates to to 40 or 50 percent of the base pay of worker exists any point in taking out insurance 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 most cases I have not seen it at least 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 pack you could be denied coverage on the basis of the fact that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global 2018 19 …
The detailed functions of come at an expense,
Over the past few decades, the workforce has undergone a considerable improvement with the introduction of remote work, which has removed geographical constraints on hiring. This has made it possible for services to recruit skill from all over the world, allowing them to put together the best possible group for each function. As a result, workers have gotten higher versatility to work from home and increase their earnings without having to move to costly areas or commute cross countries. According to a 2022 survey, 87% of workers who have the choice to work from another location pick to do so. The COVID-19 pandemic, combined with improvements in enterprise connection software, has further accelerated the shift towards remote work, even in industries that were at first hesitant to embrace the trend.
insights are important to us and and your fellow guests so first things initially though um let’s learn more about everyone my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had roles in all type of Industries retail and Appeal to Aerospace in all types of organizations start-up to matrixed environments across the globe I provided leadership and method to populations of more than 100,000 employees on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work throughout business male maning and building external relationships supporting Business customers and options and serving as an advisor I wish to present our 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 corporate counsil at bambo HR so I lead our internal legal team and really work extremely closely with our um HR department as well to deal with different legal and HR matters that show up so actually thrilled 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 free to do great
While Papaya Global deals combinations with various HR and finance systems, the implementation process was not without obstacles. Integrating the software with our existing infrastructure needed additional modification, leading to some delays in the preliminary rollout.
Paying FAQs Papaya Global 2018 19 2024
and some smaller subsidiaries within our organization discovered the prices to be on the higher side. As an international company, balancing the requirement for sophisticated functions with spending plan restrictions became a fragile workout.
Client Assistance Response Time:
There were instances where our teams dealt with concerns that needed timely help. Nevertheless, the reaction time from’s customer assistance team was not always as fast as preferred, causing periodic delays in issue resolution.
Our implementation of included a phased approach. We began by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing procedures. This enabled us to recognize and deal with combination challenges early on. As the software became more ingrained in our operations, we gradually broadened its use to cover our whole worldwide labor force.
The automated functions streamlined our payroll processes, reducing the time spent on manual estimations and compliance tracking. Routine training sessions and continuous support from Papaya assisted our teams become skilled users of the software, optimizing its potential for our organization.
Companies that worker workers across numerous nations typically deal with detailed difficulties when it concerns handling their workforce. Among the most significant difficulties is consolidating numerous data streams and adhering to varied regional and national labor guidelines, which can be both lengthy and expensive. Additionally, setting up regional entities in new regions can be a costly and suboptimal choice, with alternatives such as opening a foreign subsidiary or working with an expert work organization (PEO) frequently charging up to 15% of the payroll. These challenges have led to a considerable increase in difficulty recruiting qualified personnel, with 75% of companies reporting this concern in 2022, a 21% increase from 2019. The payroll and HR options market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
uses a service supporting all types of work. It supplies an end-to-end platform, from staff member onboarding and ongoing management to international payments and. It assists companies with labor law compliance in the jurisdictions in which they operate, offers management of employment advantages, and guarantees 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 workforce management. She co-founded after seeing the technology gap in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make certain to participate in 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 new tab will open in your web browser with the webcast survey please be sure to complete it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hey there and thank you for joining us today we’re enjoyed have you here as we start a journey of information to regulation attaining
360 degree worker compliance where we’ll dive into the essential elements of the employee compliance management design throughout the session we’ll explore real life challenges genuine regional regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to safeguard your company and employees while remaining compliant in an
Ever developing regulatory environment in the everchanging world of service and financing guaranteeing compliance with payroll guidelines is not just vital but likewise a legal crucial from the moment of employing to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance dangers that have far-reaching repercussions nevertheless with a much deeper more nuanced understanding of their obligations companies can not only browse the detailed landscape but likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools required to browse the complex Surface of compliance whether you’re a seasoned P professional a small business owner or somebody brand-new to the field what I would like to do before we start and I believe it’s really important
In our mission to improve performance and precision in handling our worldwide workforce, our multinational corporation turned to, a leading and workforce management software application. The shift intended to simplify the complex task of managing throughout numerous nations, currencies, and compliance regulations.
Among the standout functions of is its robust compliance management system. The software application immediately updates itself to adhere to ever-evolving tax and labor laws throughout numerous jurisdictions. This has been vital in ensuring that our processes remain compliant in each nation of operation.
is to state that the material here is illegal suggestions it is just for your information please consult your legal team ought to you have any questions or issues in relation to anything that we’ve talked about today our secret take key takeaways by the end of the webinar will be an understanding of employee 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 employee record um to manage that worker life process throughout their Journey with you as as a worker in addition to a payroll module we need to help you pay those staff members and compensate them and benefits Administration module that allows you to help handle the advantages you provide to your employees so truly thrilled to be here represent um bamb booy container and talk about this subject um and I guess from my perspective I’ll I’ll most likely offer a great deal of a concentrate on the United States side of things when we discuss sort of compliance so happy to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a bit about papay worldwide yes definitely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment specialist manager.
at I handle the work Council in the US APAC EMA and Israel region I also act as us Council for I’m accredited in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and labor force management as a Service work force provider to employees serving in over.
160 nations alright thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were sort of like going through the introduction so it’s truly actually nice to really see in the webinar chat where everybody’s really attending from today I can see that we have individuals in Las Vegas and Indiana already so if you want to carry on tell where you are that would be absolutely fantastic whilst we just await everybody else to kind of like join in there we go Chicago as well well um so whil we’re doing that I’m waiting on everybody to sort of join I’ll simply run us through the program um today we are going to talk about hiring Skill brand-new greater Info 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 originating from absolutely all over which is great so uh I’m hoping that we’re in fact going to have some actually fantastic commentary and concerns throughout the uh the webinar too alright so that’s the program then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their information is Papaya Global 2018 19 multifaceted without fail and an.
Ever progressing relationship that starts the moment an individual joins an organization it continues throughout their work and Beyond this journey can be divided into k to several crucial phases whilst we’re really you know that they’re employed with us so on boarding everyday operations compensation and benefits expert advancement then we get to the offboarding and even advocacy so it even happens after the worker has actually left your employment throughout the journey organizations are accountable for collecting keeping protecting worker information in compliance with information personal privacy guidelines no matter where it is you’re operating around the world it often involves executing protected data management systems and making sure rigorous adherence to local requirements to secure both the worker and the company the development of staff member data and management c.