A CFO’s Perspective on Papaya Global 25.01…
Papaya Global’s platform streamlines worldwide labor force management for companies, making sure compliance with local regulations and tax laws. Their services incorporate payroll processing, benefits administration, compliance oversight, time and attendance tracking, and HR assistance. The platform centralizes international payroll operations, providing services with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of global company operations, managing payroll throughout borders can be a complex and tough job. As the Chief Financial Officer (CFO) of a global company, I understand the critical value of effective and compliant payroll management. In our pursuit of excellence, we have welcomed ingenious options to enhance our procedures, and one such transformative tool is Software application.
The Difficulty of Global Payroll:
International expansion produces varied difficulties, and payroll management is no exception. Differing tax policies, differing employment laws, and several currencies make it necessary for organizations to adopt advanced services to ensure precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Solution:
workers so it’s really basic to ensure that you have actually considered from the outset any post-termination constraints that you want to take into the agreement of employment that they’re enforceable so that indicates you require to truly think about what it is you’re looking to secure and why clearly Specify what’s consisted of within the scope of that secret information and deal with the duration of limitation post-determination that you wish to apply and be truly able to to justify that in relation to copyright the position really depends upon the kind of intellectual property you’re aiming to secure and likewise the jurisdiction so for instance from a copyright point of view in the Netherlands the end client is more likely to have the um copyright rights in a copyright that the workers produced who’s been under their supervision and control immediately nevertheless in someplace like Poland for instance that automated right may not exist which task 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 remaining on the topic of contracts Miss categorized misclassifying employees
Papaya Global Software has become a game-changer in the world of international 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 actually seen firsthand the favorable impact of on our organization’s financial operations.
Unified Worldwide Payroll Processing:
enables our business to process payroll perfectly throughout numerous nations. The platform’s unified method permits constant payroll computations, lowering mistakes and guaranteeing compliance with local policies. This has actually considerably reduced the dangers associated with international payroll processing.
likewise crucial for if later on someone says misclassification you have your file supported by the requisite files and that the ideal evaluation tools to reveal somebody that you had a thoughtful process therefore what do you need to include in that process it’s the who the what the where and the when who are you handling are you handling a specific or are you dealing with an individual Service Corporation and how are they operating what are they doing is it the type of work that lends itself more to being an independent specialist than an employee so for example accounting
I.T engineering the creatives these all lend themselves more to that examination of being freelancer you understand also uh where are they doing it can they work from anywhere or do they need to be on website and managed again another essential factor is the management and guidance of the uh employee and after that finally when is it a specific job is it a six-month project six years all of this is workable however it needs to be recorded and it needs to be completely 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 worldwide these tools take a questionnaire list for the employee the worker fills out and fills these questions out and so does the end client or the recipient of the services they both put their info into the tool and then it does an evaluation waiting the various questions due to the fact that not every jurisdiction has the exact same feeling about some of these concerns some think they’re more crucial than others and it comes out with a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can probably help you with that in terms of some of the things you need to bolster to make sure that you are given that examination of uh independent professional or green where you were examined as an as a independent contractor once that assessment is done all the requisite files are beneath it so that if later on there
Browsing the complexities of global work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our organization updated with changes in guidelines throughout jurisdictions. This ensures that our payroll procedures comply with the latest requirements, decreasing the danger of non-compliance and associated charges.
network of In-House outside consultants accounting companies and legal firms who help us keep our databases entirely as much as date and we also call on we require to when we see an unusual or or especially intricate circumstances all right thanks Steve I can just see a quick concern in the Q a window yes the session will be tape-recorded and sent to guests afterwards um returning to to the webinar itself Ray employer of record is regulated differently around the world and the German law for example it’s classed as staff member leasing can you shed any light on some of the unique considerations for nations and where the eor design isn’t controlled yes Ian employee leasing or labor leasing as it’s also called which is prevalent in several countries particularly in Europe enforces stringent guidelines on products such as the length of task it likewise assigns employees to collective bargaining arrangements that provides rights and benefits but even in the nations that do not have those stringent policies for example the UK Canada and the nordics there are guidelines for each country and each employee is treated the like all the other workers because country and all those guidelines need to be followed all right thank you Ray um Kathy moving I would say to yourself what do companies require to consider when figuring out contract status to protect themselves and the rights of hires what are the benefits and drawbacks of working with professionals and Freelancers versus permanent staff members so obviously the the benefit of specialists versus workers is the the flexibility for both the worker and for the employer um however I can’t stress enough how crucial it is to have a constant extensive and a well-documented compliance
Papaya Global 25.01 and Time Savings:
The software application’s automation abilities have actually significantly reduced the time and effort needed for payroll processing. Manual information entry and repetitive tasks have been decreased, enabling our finance team to concentrate on tactical efforts instead of administrative problems. This has actually led to increased efficiency and efficiency within our financial operations.
in one since each state has its own guidelines Californians are some of the most strict an example is pay slips on a payslip in California the right information needs to be on the payslip in the ideal format and in the best position if you’re in breach of of policies for payslips the fines are provided 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 of and we’re only two questions in and 10 minutes approximately hiring in one nation is challenging enough but when working with in a you know on a global level it’s a totally various story you need to make certain that you’re up to date with current as well as pending regional labor laws Steve um how do you make certain and make sure that the people 2.0 team is on top of an ever-changing landscape and that your customers are fully supported and I’ll organize this into 3 key things we do in most importantly you need to have the best team so we hire a team of global experts in Work Practices um that ex that group of specialists consists of legal representatives it includes payroll specialists it includes HR professionals and these are people that not just understand the laws in these in these countries and regions however they likewise understand the languages they understand the regional practices they know the cultures and it’s important to have that right team and truly have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies thorough real-time analytics and reporting tools. As a CFO, having access to precise and prompt monetary data is essential for decision-making. The platform’s reporting capabilities empower me to make educated strategic decisions based upon real-time insights into our global 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 obtained rights regulation, also known as the 2p guidelines in the UK, and the working time regulations have been subject to numerous legal analyses, especially relating to holiday pay. Furthermore, the concept of work status has actually seen several legal precedents over the
Scalability for Business Growth:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into brand-new markets, the software application effortlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll facilities can adjust to the progressing requirements of our global organization.
Global Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of client services and I would say individually and jointly these 3 individuals have Decades of experience in in work law and international Work Practices so thank you it’s an enjoyment to be with everyone here today seems like we’ve got the right people with us today and in in addition to to those well we also have among our own Stars delete share head of Global Solutions at papaya Global inform us about yourself thank you Elin Ian hi my name is Elite I have actually been with the business for around 4 and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 areas on a personal aspect and related to our subject today I’ve had the chance to transfer and operate in three various nations it is the business’s duty to guarantee my protection while residing in a foreign country compliance with regional laws and guidelines is vital for me or anyone else as an expat or as a regional so today we have actually welcomed our trusted Partners individuals 2.0 to demonstrate the value of regional
knowledge when companies Go Worldwide thank you and take pleasure in all right thank you as I said let’s move on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you’ve been thinking about we’ll discuss the facts a business needs to think about when opening a brand-new entity and expanding into new countries along with keeping things going we’ll cover elements such as regional guidelines factors to consider when hiring compliance essential difficulties payments and what not to do it’s one of the most essential things remembering what not to do um operating on a global level is not for the faint-hearted the larger a business grows the more they need to understand and manage understanding what to do in each new circumstance as it rises is very important on numerous levels comprehending regional policies and regional laws in addition to organization practices assists mitigate Associated and worldwide growth papaya through our regional professionals can browse prospective dangers such as intellectual property defense data personal privacy security concerns ensuring the business’s operations stay compliant and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software has actually shown to be an invaluable asset in our mission for effective and certified worldwide payroll management. As the CFO of an international company, I am positive in recommending Papaya Global to organizations seeking to improve their payroll processes, improve compliance, and accomplish greater performance in handling their worldwide labor force. The software’s ingenious features and commitment to quality line up with our tactical objectives, 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 revealed settlements there’s also substantial legal expenses there’s there’s other penalties there’s other expenses behind that also so the overall cost can be really considerable in the tens of millions of dollars or more and and those amounts are growing uh the reason why companies are getting it so wrong is really simply the guidelines are complex and they’re altering all the time believe ir-35 in the UK which has been an ongoing development for numerous years now and and still a lot of unpredictability among companies on what it really suggests and how you deal with it most employers are simply not familiar with the rules 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 workers from a classification perspective all right thank you Stephen and moving back to yourself Ray it’s not only the business that suffers in the long run what impacts can this have on the staff member Papaya Global 25.01 specifically when it pertains to their own tax liabilities social security and benefits for instance jury and obviously the workers the other side of the coin
I find time and time again the employees typically misclassified unconsciously they don’t comprehend the conditions of work or contract and are informed by the client why it’s optimum mainly to the client why you must be employed or engaged in this fashion the worker may owe taxes and Social Security to the authorities the future pension and health care opportunities of the employee can be affected and numerous times it can be years before this all falls out and by that time it’s too late years have gone by they haven’t added to pensions And so on so it’s a big effect that they never knew they were walking into you couldn’t agree with you more if you say the UK for instance hmrc can go back as much as ten years um Kathy companies are taking out insurance against misclassification however usually premiums are only covering the cost of legal fees whilst the typical claim examined versus employers relates to to 40 or half 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 read 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 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 rejected protection on the basis of the fact that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global 25.01 …
The detailed features of come at an expense,
Recent years have seen a remarkable modification to the labor force as the rise of remote work has broken down geographical barriers to working with. Organizations can now hire personnel from anywhere worldwide, enabling them to access the very best offered skill for any given function. This gives workers more liberty to work from home and increase their earnings without relocating to expensive areas or commuting cross countries. A 2022 survey found that 87% of employees who have the chance to work from another location take that chance. The outbreak of COVID-19, in conjunction with brand-new enterprise connectivity software, accelerated the move to remote work, consisting of in industries previously reluctant to accept the trend.
insights are important to us and and your fellow attendees 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’ve had roles in all type of Industries retail and Charm to Aerospace in all kinds of companies startup to matrixed environments across the globe I offered management and technique to populations of more than 100,000 employees on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across business guy maning and constructing external relationships supporting Enterprise customers and options and acting as an advisor I want to introduce our first Greg um guest Greg who will kick things off by informing us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal team and really work extremely closely with our um HR department also to manage various legal and HR matters that turn up so actually delighted to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our objective is to set you as HR specialists totally free to do excellent
Although Papaya Global supplies integrations with numerous HR and finance systems, we encountered some hurdles throughout the integration procedure. Customizing the software to line up with our existing infrastructure showed to be more complicated than prepared for, resulting in delays in the preliminary rollout.
The extensive features provided by Papaya Global come at a cost, which a few of our smaller subsidiaries discovered to be prohibitively costly. As a global company, we needed to carefully weigh the requirement for sophisticated functionality versus budget restrictions.
Support Reaction Time:
On occasion, our teams experienced concerns that required urgent support. Nevertheless, the reaction time from Papaya Global’s consumer assistance team was not constantly as prompt as we would have liked, causing delays in dealing with those concerns.
Our application of included a phased method. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This permitted us to identify and attend to integration obstacles early on. As the software became more implanted in our operations, we gradually expanded its use to cover our entire international labor force.
The automated features structured our payroll processes, decreasing the time spent on manual computations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our teams end up being proficient users of the software, optimizing its capacity for our organization.
However, paying a workforce can be complicated. It is especially challenging for companies who utilize personnel throughout several countries, as they should constantly consolidate various data streams, manually track local and national labor and policies, and spend important time and resources to establish regional entities in brand-new areas. These companies are faced with suboptimal, pricey choices, like opening a foreign subsidiary or hiring an expert work organization, which is a local company that employs staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported problem hiring certified workers, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
provides a service supporting all forms of employment. It offers an end-to-end platform, from worker onboarding and ongoing management to global payments and. It assists business with labor law compliance in the jurisdictions in which they run, uses management of employment benefits, and makes sure data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading expert in payroll and labor force management. She co-founded after seeing the technology space in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to attend the total webcast in order to get your credits if you have any concerns throughout the webcast please click the Q&A tab in your webinar controls and type the there a brand-new tab will open in your browser with the webcast study please be sure to finish 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 discussion hey there and thank you for joining us today we’re thrilled to have you here as we start a journey of information to guideline accomplishing
360 degree staff member compliance where we’ll dive into the vital aspects of the employee compliance management model throughout the session we’ll explore real world challenges real regional guidelines finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to secure your organization and employees while remaining compliant in an
Ever evolving regulatory environment in the everchanging world of organization and financing ensuring compliance with payroll guidelines is not only important but also a legal vital from the moment of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance risks that have far-reaching consequences nevertheless with a much deeper more nuanced understanding of their commitments organizations can not only navigate the detailed landscape however also proactively ensure this 360 degree compliance the webinar is created to equip you with the understanding and tools required to browse the complex Terrain of compliance whether you’re a skilled P professional a small business owner or somebody new to the field what I want to do before we begin and I think it’s truly important
In our mission to boost efficiency and accuracy in managing our global labor force, our multinational corporation turned to, a leading and workforce management software application. The transition aimed to simplify the complex job of managing throughout numerous countries, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software application automatically updates itself to adhere to ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been vital in guaranteeing that our procedures stay compliant in each country of operation.
is to state that the material here is not legal recommendations it is simply for your info please consult your legal team must you have any concerns or concerns in relation to anything that we’ve gone over today our secret take essential takeaways by the end of the webinar will be an understanding of staff member compliance risks how to hire ly with confidence how to simplify information management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
function as your hris or is kind of your core employee record um to manage that employee life process throughout their Journey with you as as a worker in addition to a payroll module we need to help you pay those workers and compensate them and advantages Administration module that permits you to assist manage the advantages you provide to your employees so really thrilled to be here represent um bamb booy container and speak about this subject um and I guess from my viewpoint I’ll I’ll probably provide a lot of a concentrate on the United States side of things when we talk about kind of compliance so delighted 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 bit about papay worldwide yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Work professional manager.
at I manage the work Council in the United States APAC EMA and Israel region I also function as us Council for I’m licensed in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service work force provider to workers 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 actually really great to in fact see in the webinar chat where everybody’s in fact going to from today I can see that we have individuals in Las Vegas and Indiana already so if you want to carry on inform where you are that would be definitely wonderful whilst we simply await everybody else to type of like participate there we go Chicago too well um so whil we’re doing that I’m waiting on everyone to sort of join I’ll simply run us through the program um today we are going to go over working with Talent new greater Details Management termination compliance and automation wow the chat has got really truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely everywhere which is fantastic so uh I’m hoping that we’re in fact going to have some actually excellent commentary and concerns throughout the uh the webinar too okay so that’s the program 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 25.01 multifaceted without fail and an.
Ever progressing relationship that begins the minute a person signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to a number of crucial stages whilst we’re actually you know that they’re employed with us so on boarding day-to-day operations compensation and advantages professional development then we get to the offboarding and even advocacy so it even takes place after the employee has left your employment throughout the journey companies are accountable for collecting saving safeguarding staff member information in compliance with data personal privacy regulations no matter where it is you’re operating worldwide it typically includes carrying out secure data management systems and guaranteeing stringent adherence to local requirements to secure both the employee and the company the development of staff member information and management c.