A CFO’s Point of view on Papaya Global Deel…
Papaya Global’s platform streamlines global labor force management for companies, guaranteeing compliance with regional policies and tax laws. Their services incorporate payroll processing, advantages administration, compliance oversight, time and attendance tracking, and HR assistance. The platform centralizes worldwide payroll operations, supplying organizations with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of global service operations, managing payroll throughout borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a worldwide business, I understand the crucial significance of effective and certified payroll management. In our pursuit of quality, we have actually accepted innovative solutions to enhance our processes, and one such transformative tool is Software.
The Difficulty of International Payroll:
Worldwide expansion causes varied challenges, and payroll management is no exception. Differing tax policies, differing work laws, and numerous currencies make it imperative for organizations to adopt advanced solutions to guarantee precision, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Option:
workers so it’s truly essential to guarantee that you’ve thought about from the start any post-termination limitations that you want to take into the contract of work that they’re enforceable so that means you need to really think of what it is you’re looking to safeguard and why clearly Define what’s included within the scope of that confidential information and resolve the duration of limitation post-determination that you wish to apply and be actually able to to justify that in relation to intellectual property the position actually depends upon the kind of copyright you’re aiming to safeguard and likewise the jurisdiction so for example from a copyright perspective in the Netherlands completion customer 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 require to stream through the chain uh contractually so it truly depends upon the jurisdiction and the type of IP fine thank you Elizabeth Steve was staying on the subject of contracts Miss classified 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 experienced firsthand the favorable effect of on our organization’s financial operations.
Unified Global Payroll Processing:
enables our company to procedure payroll flawlessly throughout multiple nations. The platform’s unified approach enables consistent payroll estimations, decreasing mistakes and guaranteeing compliance with local guidelines. This has substantially reduced the dangers related to international payroll processing.
also crucial for if later on someone states misclassification you have your file supported by the requisite files and that the best assessment tools to show someone that you had a thoughtful procedure therefore what do you need to consist of because process it’s the who the what the where and the when who are you dealing with are you handling a specific or are you dealing with a personal Service Corporation and how are they running what are they doing is it the kind of work that lends itself more to being an independent professional than a worker so for example accounting
I.T crafting the creatives these all provide 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 have to be on website and handled again another essential aspect is the management and supervision of the uh employee and then finally when is it a particular project is it a six-month task 6 years all of this is manageable however it has to be recorded and it has to be thoroughly um examined so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out globally these tools take a questionnaire list for the employee the worker completes and fills these concerns out therefore does the end client or the recipient of the services they both put their details into the tool and then it does an examination waiting the various concerns because not every jurisdiction has the exact same feeling about some of these questions some believe they’re more crucial than others and it brings out a red yellow or green red you’re probably a worker yellow you’re on the cusp we can probably assist you with that in terms of some of the things you need to strengthen to make certain that you are given that examination of uh independent professional or green where you were assessed as an as a independent professional once that evaluation is done all the requisite files are underneath it so that if in the future there
Navigating the complexities of worldwide employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our company updated with modifications in guidelines throughout jurisdictions. This guarantees that our payroll procedures adhere to the most recent standards, minimizing the threat of non-compliance and associated charges.
network of In-House outside consultants accounting companies and legal firms who assist us keep our databases completely as much as date and we likewise get in touch with we require to when we see an uncommon or or particularly intricate situations alright thanks Steve I can just see a quick question in the Q a window yes the session will be taped and sent to attendees afterwards um returning to to the webinar itself Ray company of record is managed differently all over the world and the German law for instance it’s classified as staff member leasing can you shed any light on a few of the unique considerations for nations and where the eor model isn’t regulated yes Ian employee leasing or labor leasing as it’s likewise called which prevails in a number of countries especially in Europe imposes stringent guidelines on products such as the length of task it likewise assigns workers to collective bargaining arrangements that gives them rights and benefits however even in the countries that don’t have those rigorous policies for instance the UK Canada and the nordics there are guidelines for each country and each worker is dealt with the like all the other employees in that nation and all those regulations need to be abided by okay thank you Ray um Kathy moving I would state to yourself what do companies need to consider when identifying contract status to safeguard themselves and the rights of hires what are the advantages and disadvantages of working with specialists and Freelancers versus permanent employees so clearly the the advantage of professionals versus workers is the the versatility for both the employee and for the employer um however I can’t worry enough how crucial it is to have a constant comprehensive and a well-documented compliance
Papaya Global Deel and Time Cost Savings:
The software application’s automation capabilities have actually substantially decreased the time and effort needed for payroll processing. Handbook data entry and repeated tasks have been reduced, permitting our financing team to concentrate on strategic efforts instead of administrative burdens. This has resulted in increased performance and performance within our financial operations.
in one since each state has its own policies Californians are a few of the most rigorous an example is pay slips on a payslip in California the best details needs to be on the payslip in the best format and in the best position if you’re in breach of of guidelines for payslips the fines are issued per payslip so that’s each staff member each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to worry to consider and we’re only 2 concerns in and 10 minutes or two working with in one nation is challenging enough but when working with in a you know on an international level it’s a totally various story you need to make certain that you’re up to date with present as well as 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 which your customers are fully supported and I’ll arrange this into 3 crucial things we perform in primarily you require to have the best team so we employ a team of worldwide specialists in Employment Practices um that ex that group of professionals includes attorneys it consists of payroll professionals it includes HR specialists and these are people that not only understand the laws in these in these nations and regions but they likewise know the languages they understand the regional practices they know the cultures and it is essential to have that right group and genuinely have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers extensive real-time analytics and reporting tools. As a CFO, having access to precise and timely monetary data is crucial for decision-making. The platform’s reporting capabilities empower me to make educated strategic choices based upon real-time insights into our global payroll data.
The useful application and level of the application to work law can be examined through the legal system utilizing case law examples. For example, the acquired rights regulation, also referred to as the 2p guidelines in the UK, and the working time policies have been subject to different legal interpretations, especially regarding vacation pay. In addition, the concept of employment status has seen numerous legal precedents over the
Scalability for Company Development:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software application effortlessly accommodates changes in our workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the developing needs of our international organization.
Worldwide 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 state separately and collectively these three individuals have Years of experience in in employment law and worldwide Employment Practices so thank you it’s a pleasure 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 also have one of our own Stars erase share head of Global Services at papaya Worldwide tell us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the business for around four and a half years as head of Partnerships I have actually established Papaya’s network of in-country Partners in over 160 places on a personal aspect and related to our subject today I have actually had the opportunity to relocate and operate in three various countries it is the business’s obligation to ensure my defense while living in a foreign nation compliance with regional laws and guidelines is important for me or anybody else as an expat or as a regional so today we have invited our trusted Partners individuals 2.0 to show the importance of regional
competence when business Go Global thank you and enjoy fine thank you as I stated let’s move on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking of we’ll talk about the facts a company requires to think about when opening a new entity and expanding into new countries as well as keeping things going we’ll cover aspects such as regional policies considerations when hiring compliance key difficulties payments and what not to do it’s one of the most essential 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 need to understand and handle understanding what to do in each brand-new situation as it rises is necessary on many levels comprehending local guidelines and regional laws as well as service practices assists reduce Associated and global expansion papaya through our regional specialists can browse potential risks such as copyright protection data privacy security issues ensuring the company’s operations stay compliant and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has shown to be an important possession in our quest for efficient and compliant international payroll management. As the CFO of a global business, I am positive in suggesting Papaya Global to organizations looking for to streamline their payroll procedures, boost compliance, and achieve higher efficiency in managing their worldwide labor force. The software’s ingenious functions and commitment to excellence align with our strategic goals, making it an important part of our financial operations.
I discover time and time again the employees typically misclassified unknowingly they do not understand the conditions of employment or contract and are informed by the customer why it’s most advantageous mainly to the customer why you ought to be used or taken part in this fashion the worker may owe taxes and Social Security to the authorities the future pension and health care privileges of the employee can be impacted and several times it can be years before this all falls out and by that time it’s too late years have passed they haven’t contributed to pensions Etc so it’s a big effect that they never ever knew they were walking into you could not agree with you more if you say the UK for instance hmrc can go back as much as 10 years um Kathy companies are getting insurance coverage versus misclassification but generally premiums are only covering the cost of legal costs whilst the typical claim assessed against companies relates to to 40 or half of the base salary 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 small print it is not covering the taxes charge and interest most of the times 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 saying is is that if your compliance program is not up to stuff you could be denied protection on the basis of the fact that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Deel …
The extensive features of come at an expense,
Current decades have seen a dramatic change to the labor force as the rise of remote work has actually broken down geographical barriers to working with. Companies can now work with personnel from anywhere worldwide, permitting them to access the very best available skill for any provided role. This gives employees more freedom to work from home and increase their earnings without transferring to costly locations or travelling fars away. A 2022 study found that 87% of workers who have the opportunity to work from another location take that opportunity. The break out of COVID-19, in conjunction with brand-new enterprise connectivity software, sped up the relocate to remote work, consisting of in industries formerly hesitant to welcome the trend.
insights are valuable to us and and your fellow attendees so first things initially 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’ve had roles in all kind of Industries retail and Charm to Aerospace in all types of businesses start-up to matrixed environments across the globe I provided leadership and method to populations of more than 100,000 employees on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout business guy maning and constructing external relationships supporting Enterprise clients and services and serving as a consultant I wish to present our 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 corporate counsil at bambo HR so I lead our in-house legal group and really work really carefully with our um HR department too to manage different legal and HR matters that show up so actually excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our mission is to set you as HR professionals free to do excellent
Although Papaya Global provides combinations with various HR and financing systems, we experienced some hurdles during the combination process. Tailoring the software to line up with our existing facilities proved to be more intricate than expected, leading to delays in the preliminary rollout.
The comprehensive features offered by Papaya Global come at a cost, which some of our smaller subsidiaries discovered to be prohibitively costly. As a global organization, we needed to thoroughly weigh the requirement for innovative functionality against spending plan restrictions.
Assistance Response Time:
On occasion, our groups experienced concerns that required immediate assistance. Nevertheless, the response time from Papaya Global’s customer support team was not always as prompt as we would have liked, causing hold-ups in resolving those concerns.
Our implementation of involved a phased technique. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This allowed us to recognize and address integration difficulties early on. As the software application ended up being more instilled in our operations, we slowly broadened its usage to cover our entire global workforce.
The automated functions streamlined our payroll procedures, minimizing the time spent on manual estimations and compliance tracking. Regular training sessions and continuous assistance from Papaya assisted our groups end up being skilled users of the software application, maximizing its potential for our company.
Companies that employee workers across numerous countries often face detailed obstacles when it concerns managing their labor force. One of the most significant difficulties is combining different information streams and sticking to diverse regional and nationwide labor regulations, which can be both lengthy and costly. Moreover, establishing regional entities in new regions can be a pricey and suboptimal alternative, with options such as opening a foreign subsidiary or employing an expert employment company (PEO) typically charging up to 15% of the payroll. These difficulties have led to a substantial boost in trouble hiring qualified personnel, with 75% of employers reporting this issue in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
offers an option supporting all types of work. It offers an end-to-end platform, from staff member onboarding and continuous management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they run, uses management of work advantages, and ensures information privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading specialist in payroll and labor force management. She co-founded after seeing the technology space in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to attend the complete webcast in order to receive 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 make certain to complete it as soon 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 thrilled to have you here as we start a journey of information to regulation accomplishing
360 degree staff member compliance where we’ll dive into the vital aspects of the staff member compliance management model throughout the session we’ll explore real world obstacles genuine local regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to safeguard your organization and employees while staying compliant in an
Ever evolving regulatory environment in the everchanging world of service and finance making sure compliance with payroll regulations is not only essential but also a legal crucial from the minute of working with to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance threats that have far-reaching consequences nevertheless with a much 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 created to equip you with the understanding and tools essential to navigate the complex Terrain of compliance whether you’re an experienced P expert a small business owner or someone brand-new to the field what I would like to do before we begin and I believe it’s actually crucial
In our mission to improve effectiveness and precision in managing our worldwide labor force, our international corporation turned to, a leading and workforce management software application. The transition aimed to simplify the complex job of managing throughout different countries, currencies, and compliance policies.
One of the standout features of is its robust compliance management system. The software application immediately updates itself to follow ever-evolving tax and labor laws across multiple jurisdictions. This has been vital in guaranteeing that our procedures stay certified in each nation of operation.
is to state that the content here is not legal advice it is merely for your info please consult your legal group should you have any questions or issues in relation to anything that we’ve talked about today our key take essential takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to work with ly with confidence how to simplify data management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.
act as your hris or is type of your core employee record um to handle that worker life process throughout their Journey with you as as a worker in addition to a payroll module we have to help you pay those employees and compensate them and benefits Administration module that enables you to help manage the advantages you provide to your staff members so really excited to be here represent um bamb booy jar and discuss this topic um and I guess from my point of view I’ll I’ll most likely provide a great deal of a focus on the United States side of things when we discuss kind 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 bit about papay worldwide yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Employment expert supervisor.
at I handle the employment Council in the US APAC EMA and Israel area I also function 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 offer payroll payments and labor force management as a Service labor force provider to workers serving in over.
160 countries fine thank you so both I feel entirely 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 really truly nice to in fact see in the webinar chat where everybody’s actually participating in 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 just wait on everyone else to sort of like participate there we go Chicago also well um so whil we’re doing that I’m awaiting everyone to type of join I’ll simply run us through the program um today we are going to discuss working with Skill new higher Details Management termination compliance and automation wow the chat has actually got really really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is great so uh I’m hoping that we’re actually going to have some really terrific commentary and questions throughout the uh the webinar as well okay so that’s the agenda then what I want to Now cover is the the compliance and the Privacy side of things so the the Journey of an employee and their data is Papaya Global Deel complex without fail and an.
Ever evolving relationship that starts the minute an individual joins an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous essential phases whilst we’re really you understand that they’re utilized with us so on boarding daily operations payment and benefits professional advancement then we get to the offboarding and even advocacy so it even happens after the staff member has left your work throughout the journey organizations are responsible for collecting keeping securing staff member data in compliance with information personal privacy regulations no matter where it is you’re operating around the globe it frequently involves implementing safe and secure information management systems and guaranteeing strict adherence to local requirements to protect both the employee and the company the advancement of worker data and management c.