A CFO’s Perspective on Papaya Global Email Setup…
The platform allows business to manage their international labor force and adhere to regional employment regulations and tax laws. Papaya Global provides a variety of services, including payroll management, advantages administration, compliance management, time and participation tracking, and HR management. The platform is created to streamline the complexities of global payroll and offer real-time exposure and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the vibrant landscape of global service operations, managing payroll throughout borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of an international company, I understand the crucial importance of efficient and compliant payroll management. In our pursuit of excellence, we have actually welcomed innovative solutions to streamline our processes, and one such transformative tool is Software.
The Challenge of International Payroll:
Global expansion causes varied obstacles, and payroll management is no exception. Differing tax policies, varying employment laws, and several currencies make it necessary for companies to embrace advanced services to guarantee precision, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Solution:
It is vital to consider and consist of post-termination constraints in the employment contract to guarantee enforceability. You should carefully identify what you are looking for to protect and plainly define the confidential information that falls within its scope. Additionally, specify the period of the post-termination limitation and be prepared to justify it in relation to copyright. The rules relating to intellectual property vary depending upon the type of IP and the jurisdiction. For instance, in the Netherlands, completion customer is likely to have copyright rights over works produced by workers under their supervision, while in Poland, legal project may be required.
Papaya Global Software application has actually emerged as a game-changer in the world of worldwide payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, easy to use interface. As the CFO, I have seen firsthand the positive impact of on our company’s monetary operations.
Unified Global Payroll Processing:
enables our business to procedure payroll perfectly across several countries. The platform’s unified method enables consistent payroll calculations, minimizing errors and guaranteeing compliance with local policies. This has considerably mitigated the dangers associated with international payroll processing.
likewise essential for if later on somebody states misclassification you have your file supported by the requisite documents and that the right assessment tools to reveal someone that you had a thoughtful process and so what do you have to include because procedure it’s the who the what the where and the when who are you dealing with are you dealing with 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 specialist than a worker so for instance accounting
I.T engineering the creatives these all provide themselves more to that evaluation of being freelancer you understand also uh where are they doing it can they work from anywhere or do they need to be on site and handled once again another key aspect is the management and supervision of the uh employee and then finally when is it a specific task is it a six-month task six years all of this is workable but it needs 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 globally these tools take a questionnaire list for the worker the employee completes and fills these questions out therefore does completion client or the recipient of the services they both put their details into the tool and then it does an assessment waiting the different concerns since not every jurisdiction has the same feeling about a few of these concerns some think they’re more crucial than others and it brings out a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can probably assist you with that in regards to some of the things you require to bolster to make sure that you are considered that examination of uh independent contractor or green where you were examined as an as a independent contractor once that examination is done all the requisite documents are underneath it so that if in the future there
Browsing the intricacies of worldwide work laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our company updated with modifications in policies throughout jurisdictions. This guarantees that our payroll procedures stick to the latest requirements, minimizing the threat of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal firms who assist us keep our databases totally approximately date and we likewise contact we require to when we see an unusual or or particularly complicated scenarios alright thanks Steve I can just see a quick concern in the Q a window yes the session will be recorded and sent to attendees afterwards um returning to to the webinar itself Ray company of record is regulated differently around the world and the German law for instance it’s classified as employee leasing can you shed any light on a few of the unique factors to consider for nations and where the eor design isn’t managed yes Ian employee leasing or labor leasing as it’s likewise called which is prevalent in several nations specifically in Europe enforces strict guidelines on items such as the length of task it also appoints employees to collective bargaining agreements that provides rights and benefits however even in the countries that do not have those strict policies for instance the UK Canada and the nordics there are guidelines for each nation and each worker is dealt with the like all the other workers in that nation and all those policies require to be complied with okay thank you Ray um Kathy moving I would say to yourself what do companies need to consider when identifying contract status to secure themselves and the rights of hires what are the advantages and disadvantages of employing professionals and Freelancers versus long-term staff members so undoubtedly the the advantage of professionals versus employees is the the versatility for both the worker and for the company um however I can’t stress enough how important it is to have a consistent extensive and a well-documented compliance
Papaya Global Email Setup and Time Cost Savings:
The software’s automation capabilities have considerably reduced the time and effort needed for payroll processing. Manual information entry and repeated jobs have actually been minimized, allowing our financing team to concentrate on tactical efforts rather than administrative burdens. This has led to increased performance and efficiency within our monetary operations.
in one given that 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 right details has to be on the payslip in the best format and in the ideal position if you’re in breach of of policies for payslips the fines are released per payslip so that’s each worker each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think about and we’re only 2 concerns in and 10 minutes or so working with in one country is challenging enough but when working with in a you understand on an international level it’s an entirely different story you need 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 ensure that individuals 2.0 team is on top of an ever-changing landscape and that your clients are completely supported and I’ll arrange this into three crucial things we do in firstly you need to have the ideal team so we work with a group of worldwide experts in Employment Practices um that ex that group of experts consists of legal representatives it includes payroll professionals it consists of HR professionals and these are people that not only know the laws in these in these nations and areas but they also know the languages they understand the local practices they know the cultures and it is very important to have that ideal team and genuinely have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt monetary information is crucial for decision-making. The platform’s reporting capabilities empower me to make educated strategic choices based on real-time insights into our global payroll information.
application and its scope and the manner in which it applies to work law in practice can be evaluated through the judicial system by way of case law examples of that would be the gotten rights directive otherwise called the 2p guidelines in the UK the working time guidelines which has had various strands of that legislation checked particularly around holiday pay and naturally as Kathy’s going to come on to discuss later work status which there’s been multiple precedence set throughout the years so I believe it’s really that continuous advancement of the employment law landscape that you truly require to navigate when when working in Europe okay thank you Elizabeth Ray what about you from your personal experience while crossing the pond as pointed out each country has various guidelines but the United States is essentially 50 countries
Scalability for Service Growth:
Among the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software application seamlessly accommodates changes in our workforce and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the progressing needs of our international company.
International Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Glimpse who is our senior vice president of customer service and I would say individually and collectively these 3 people 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 sounds like we’ve got the right people with us today and in in addition to to those well we likewise have among our own Stars erase share head of Global Solutions 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 Collaborations I have established Papaya’s network of in-country Partners in over 160 areas on an individual aspect and related to our subject today I have actually had the opportunity to relocate and work in 3 different countries it is the company’s responsibility to ensure my defense while living in a foreign nation compliance with regional laws and regulations is important for me or anyone else as an expat or as a regional so today we have actually welcomed our relied on Partners individuals 2.0 to show the value of local
know-how when business Go International thank you and delight in okay thank you as I stated let’s carry on to the pact program today’s webinar is a chance to ask the panel the questions you’ve been considering we’ll go over the realities a business needs to consider when opening a brand-new entity and expanding into brand-new nations along with keeping things going we’ll cover elements such as local regulations considerations when employing compliance essential obstacles payments and what not to do it is among the most essential things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a company grows the more they require to understand and handle knowing what to do in each brand-new scenario as it rises is necessary on many levels comprehending local regulations and regional laws along with service practices assists mitigate Associated and international growth papaya through our local professionals can navigate possible risks such as copyright security information personal privacy security concerns guaranteeing the company’s operations remain compliant and safe tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually shown to be an important possession in our quest for effective and compliant worldwide payroll management. As the CFO of an international company, I am positive in suggesting Papaya Global to organizations looking for to streamline their payroll processes, improve compliance, and achieve higher performance in handling their worldwide labor force. The software application’s innovative functions and commitment to excellence line up with our tactical objectives, making it an important part of our monetary 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 publicly revealed settlements there’s also considerable legal costs there’s there’s other penalties there’s other costs behind that too so the total cost can be extremely significant in the 10s of countless dollars or more and and those amounts are growing uh the reason companies are getting it so incorrect is truly simply the rules are complicated and they’re changing all the time think ir-35 in the UK which has been a continuous advancement for several years now and and still a lot of uncertainty among business on what it truly indicates and how you deal with it most companies are just not aware of the rules and and act as if the the rules are the same everywhere which they’re not so so encourage you to to be extremely proactive as you’re engaging uh employees from a category point of view fine thank you Stephen and moving back to yourself Ray it’s not only the business that suffers in the long run what effects can this have on the worker Papaya Global Email Setup especially when it concerns their own tax liabilities social security and benefits for example jury and clearly the workers the opposite of the coin
I discover time and time again the workers frequently misclassified unknowingly they do not understand the conditions of work or contract and are informed by the customer why it’s optimum generally to the client why you must be used or taken part in this fashion the employee might owe taxes and Social Security to the authorities the future pension and health care advantages of the worker can be affected and several times it can be years before this all falls out and by that time it’s far too late years have actually passed they have not added to pensions And so on so it’s a huge effect that they never ever knew they were walking into you couldn’t agree with you more if you say the UK for example hmrc can go back as much as ten years um Kathy companies are securing insurance coverage versus misclassification however normally premiums are only covering the cost of legal costs whilst the average claim examined against employers relates to to 40 or half of the base salary of employee exists any point in securing insurance coverage and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes charge and interest in most cases I haven’t seen it at least so uh the the other area that I do think if you managed to get the coverage what we are saying 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 Considerations and Papaya Global Email Setup …
The comprehensive functions of come at a cost,
Over the past few years, the workforce has undergone a significant change with the introduction of remote work, which has removed geographical restrictions on hiring. This has actually made it possible for companies to hire talent from all over the world, enabling them to assemble the very best possible group for each role. As a result, staff members have actually gained greater flexibility to work from home and increase their earnings without needing to move to pricey areas or commute long distances. According to a 2022 study, 87% of workers who have the choice to work from another location select to do so. The COVID-19 pandemic, integrated with improvements in business connectivity software application, has further sped up the shift towards remote work, even in industries that were at first hesitant to embrace the pattern.
insights are valuable to us and and your fellow participants so first things initially though um let’s be familiar with everyone my name is Ian Charles and I have actually operated in payroll for the last 25 years I’ve had functions in all type of Industries retail and Appeal to Aerospace in all kinds of organizations start-up to matrixed environments across the globe I offered leadership and method to populations of more than 100,000 staff members on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
Worldwide I work across the business male maning and constructing external relationships supporting Business clients and options and functioning as a consultant I want to introduce our first Greg um visitor Greg who will kick things off by informing us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our internal legal team and actually work extremely closely with our um HR department also to manage numerous legal and HR matters that turn up so really thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our objective is to set you as HR specialists complimentary to do fantastic
Although Papaya Global supplies combinations with various HR and finance systems, we came across some hurdles during the integration process. Customizing the software application to line up with our existing infrastructure showed to be more complex than prepared for, leading to hold-ups in the preliminary rollout.
The comprehensive functions offered by Papaya Global come at a cost, which a few of our smaller sized subsidiaries discovered to be prohibitively costly. As an international company, we needed to carefully weigh the requirement for advanced performance against spending plan constraints.
Support Reaction Time:
On occasion, our groups experienced problems that required urgent help. However, the reaction time from Papaya Global’s client assistance team was not always as timely as we would have liked, leading to delays in fixing those problems.
Our execution of included a phased method. We started by onboarding a few subsidiaries to test the system’s compatibility with our existing procedures. This permitted us to identify and attend to combination obstacles early on. As the software ended up being more implanted in our operations, we slowly expanded its use to cover our whole global workforce.
The automated functions streamlined our payroll procedures, reducing the time invested in manual estimations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our teams become proficient users of the software application, optimizing its capacity for our company.
However, paying a workforce can be complicated. It is especially challenging for companies who use personnel throughout multiple countries, as they must continuously consolidate different information streams, manually track regional and nationwide labor and policies, and spend valuable time and resources to set up local entities in brand-new locations. These business are confronted with suboptimal, pricey choices, like opening a foreign subsidiary or employing a professional employment organization, which is a local firm that employs workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble hiring qualified personnel, a boost of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
uses a solution supporting all kinds of work. It offers an end-to-end platform, from employee onboarding and ongoing management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they run, provides management of work advantages, and makes sure data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading expert in payroll and workforce management. She co-founded after seeing the technology gap in global.
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 questions throughout the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your web browser with the webcast study please make sure 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 enjoyed have you here as we embark on a journey of information to regulation achieving
360 degree employee compliance where we’ll dive into the essential elements of the staff member compliance management model throughout the session we’ll check out real world challenges genuine regional regulations finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to safeguard your company and workers while remaining certified in an
Ever evolving regulatory environment in the everchanging world of organization and finance ensuring compliance with payroll regulations is not just essential however also a legal crucial from the minute of hiring 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 however with a much deeper more nuanced understanding of their obligations companies can not only browse the elaborate landscape however likewise proactively guarantee this 360 degree compliance the webinar is created to equip you with the knowledge and tools needed to navigate the complex Surface of compliance whether you’re a seasoned P specialist a small company owner or someone brand-new to the field what I want to do before we begin and I think it’s truly essential
In our mission to enhance performance and precision in managing our global labor force, our international corporation turned to, a leading and labor force management software. The transition intended to simplify the complex job of managing throughout various countries, currencies, and compliance regulations.
Among the standout functions of is its robust compliance management system. The software application automatically updates itself to comply with ever-evolving tax and labor laws throughout several jurisdictions. This has been invaluable in making sure that our processes remain compliant in each country of operation.
is to state that the content here is not legal suggestions it is merely for your info please consult your legal group needs to you have any questions or concerns in relation to anything that we’ve talked about today our secret take essential takeaways by the end of the webinar will be an understanding of employee compliance threats how to work with ly with confidence how to simplify information 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 type of your core employee record um to manage that worker life cycle throughout their Journey with you as as a worker in addition to a payroll module we need to assist you pay those staff members and compensate them and benefits Administration module that allows you to assist manage the advantages you supply to your employees so really excited 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 supply a great deal of a focus on the US side of things when we talk about 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 present yourself and inform the audience a bit about papay international yes definitely thank you Ian hello everyone I’m Gina dorelis I’m the Work professional supervisor.
at I handle the employment Council in the US APAC EMA and Israel area I also act as us Council for I’m certified in New York and New Jersey um we ensure 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 employees serving in over.
160 countries all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were kind of like going through the introduction so it’s actually actually nice to really see in the webinar chat where everyone’s in fact going to from today I can see that we have people in Las Vegas and Indiana already so if you want to continue tell where you are that would be absolutely wonderful whilst we simply await everyone else to type of like join in there we go Chicago too well um so whil we’re doing that I’m waiting on everybody to type of join I’ll just run us through the agenda um today we are going to talk about working with Talent new higher Information Management termination compliance and automation wow the chat has got really really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over 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 all right so that’s the agenda then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their information is Papaya Global Email Setup multifaceted without fail and an.
Ever evolving relationship that begins the moment a person 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 know that they’re used with us so on boarding day-to-day operations settlement and benefits professional development then we get to the offboarding and even advocacy so it even occurs after the employee has left your employment throughout the journey organizations are responsible for gathering storing protecting employee information in compliance with data privacy regulations no matter where it is you’re running all over the world it typically includes executing secure data management systems and ensuring stringent adherence to local requirements to safeguard both the staff member and the organization the development of employee data and management c.