A CFO’s Viewpoint on Papaya Global Israel…
Papaya Global’s platform improves worldwide workforce management for companies, ensuring compliance with local regulations and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes global payroll operations, supplying services with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of international organization operations, managing payroll across borders can be a complex and tough job. As the Chief Financial Officer (CFO) of a global company, I comprehend the critical value of efficient and certified payroll management. In our pursuit of excellence, we have welcomed ingenious solutions to improve our processes, and one such transformative tool is Software.
The Difficulty of Global Payroll:
International expansion causes diverse obstacles, and payroll management is no exception. Differing tax policies, varying work laws, and multiple currencies make it crucial for companies to embrace sophisticated options to make sure accuracy, compliance, and performance in payroll processing.
Software: A Comprehensive Option:
It is crucial to think about and consist of post-termination restrictions in the employment agreement to guarantee enforceability. You should thoroughly determine what you are seeking to safeguard and clearly define the confidential information that falls within its scope. In addition, define the period of the post-termination restriction and be prepared to justify it in relation to intellectual property. The guidelines relating to copyright differ depending upon the kind of IP and the jurisdiction. For instance, in the Netherlands, completion customer is most likely to have copyright rights over works produced by employees under their guidance, while in Poland, legal project may be necessary.
Papaya Global Software has actually emerged as a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually seen firsthand the favorable impact of on our organization’s monetary operations.
Unified Global Payroll Processing:
allows our company to procedure payroll effortlessly throughout numerous countries. The platform’s unified method allows for consistent payroll calculations, reducing errors and making sure compliance with local regulations. This has actually significantly alleviated the risks related to international payroll processing.
likewise crucial for if later on somebody states misclassification you have your file supported by the requisite documents and that the ideal evaluation tools to show someone that you had a thoughtful process therefore what do you need to consist of because process it’s the who the what the where and the when who are you handling are you dealing with an individual or are you dealing with a personal Service Corporation and how are they running what are they doing is it the type of work that provides itself more to being an independent 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 have to be on website and managed once again another key aspect is the management and guidance of the uh worker and after that lastly when is it a particular task is it a six-month job 6 years all of this is workable but 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’ve improved it this year so that we can roll it out worldwide these tools take a questionnaire list for the employee the worker submits 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 because not every jurisdiction has the very same sensation about a few of these questions some believe they’re more vital 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 important things you need to bolster to make certain that you are considered that assessment of uh independent contractor or green where you were assessed as an as a independent specialist once that assessment is done all the requisite documents are below it so that if in the future there
Navigating the intricacies of worldwide employment laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in policies across jurisdictions. This makes sure that our payroll procedures abide by the most recent standards, reducing the threat of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal companies who assist us keep our databases totally as much as date and we also call on we require to when we see an uncommon or or especially complicated situations fine thanks Steve I can simply see a quick concern in the Q a window yes the session will be recorded and sent out to participants later on um moving back to to the webinar itself Ray company of record is regulated in a different way around the world and the German law for instance it’s classed as worker leasing can you shed any light on a few of the special considerations for countries and where the eor model isn’t managed yes Ian worker leasing or labor leasing as it’s also called which is prevalent in several countries especially in Europe imposes rigorous regulations on items such as the length of project it also assigns employees to collective bargaining contracts that provides rights and benefits however even in the nations that don’t have those strict guidelines for example the UK Canada and the nordics there are regulations for each nation and each employee is dealt with the same as all the other workers because country and all those guidelines require to be complied with okay thank you Ray um Kathy moving I would say to yourself what do companies require to factor in when figuring out contract status to secure themselves and the rights of hires what are the benefits and drawbacks of working with contractors and Freelancers versus long-term employees so obviously the the benefit of professionals versus workers is the the flexibility for both the employee and for the employer um however I can’t worry enough how important it is to have a constant extensive and a well-documented compliance
Papaya Global Israel and Time Cost Savings:
The software’s automation capabilities have actually considerably minimized the time and effort needed for payroll processing. Manual information entry and repeated jobs have actually been minimized, permitting our financing group to focus on tactical efforts instead of administrative problems. This has led to increased performance and performance within our financial operations.
in one since each state has its own policies Californians are a few of the most strict an example is pay slips on a payslip in California the ideal info has to be on the payslip in the ideal format and in the best position if you remain in breach of of regulations for payslips the fines are issued per payslip so that’s each employee each pay slip will incur a great thanks Ray thank you Elizabeth a lot to fret to think about and we’re only two concerns in and 10 minutes or two employing in one nation is challenging enough but when working with in a you know on a worldwide level it’s an entirely different story you require to ensure that you depend on date with existing as well as 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 which your clients are completely supported and I’ll arrange this into 3 essential things we carry out in most importantly you require to have the right team so we hire a team of global experts in Employment Practices um that ex that team of experts includes attorneys it includes payroll experts it consists of HR specialists and these are people that not only know the laws in these in these countries and areas however they also know the languages they understand the regional practices they understand the cultures and it is necessary to have that best group and truly have the group 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 prompt monetary information is vital for decision-making. The platform’s reporting capabilities empower me to make informed strategic decisions based on 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 utilizing case law examples. For instance, the obtained rights directive, also referred to as the 2p guidelines in the UK, and the working time regulations have undergone numerous legal analyses, particularly concerning holiday pay. In addition, the concept of work status has seen multiple legal precedents over the
Scalability for Business Growth:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software application perfectly accommodates modifications in our labor force and payroll requirements. This scalability ensures that our payroll facilities can adjust to the evolving needs of our international company.
Global Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of client services and I would state individually and collectively these three people have Years of experience in in work law and global Employment Practices so thank you it’s an enjoyment to be with everybody here today sounds like we have actually got the right people with us today and in in addition to to those well we likewise 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 four and a half years as head of Partnerships I have developed Papaya’s network of in-country Partners in over 160 locations on a personal element and related to our subject today I’ve had the chance to transfer and work in three different countries it is the business’s responsibility to ensure my security while living in a foreign country compliance with regional laws and policies is vital for me or anybody else as an expat or as a local so today we have actually welcomed our relied on Partners individuals 2.0 to show the significance of regional
expertise when business Go Global thank you and take pleasure in fine thank you as I said let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the questions you’ve been thinking of we’ll go over the facts a business requires to consider when opening a new entity and broadening into new countries in addition to keeping things going we’ll cover elements such as regional policies considerations when hiring compliance crucial difficulties payments and what not to do it’s one of the most crucial 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 require to understand and handle understanding what to do in each new situation as it rises is important on numerous levels comprehending regional policies and local laws along with business practices helps mitigate Associated and worldwide expansion papaya through our regional specialists can navigate possible dangers such as copyright security data privacy security concerns guaranteeing the company’s operations stay compliant and protected tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software application has actually shown to be a vital asset in our mission for efficient and certified international payroll management. As the CFO of a global business, I am positive in advising Papaya Global to companies looking for to streamline their payroll processes, enhance compliance, and attain greater efficiency in handling their international labor force. The software application’s ingenious features and commitment to excellence line up with our tactical goals, making it an integral part of our monetary operations.
openly announced 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 costs there exists’s other penalties there’s other costs behind that too so the overall expense 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 incorrect is actually simply the guidelines are complicated and they’re altering all the time believe ir-35 in the UK which has actually been an ongoing development for several years now and and still a lot of unpredictability amongst companies on what it truly means and how you handle it most companies are merely not aware of the rules 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 employees from a category perspective fine thank you Stephen and returning 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 Israel specifically when it comes to their own tax liabilities social security and advantages for example jury and undoubtedly the workers the other side of the coin
I discover time and time again the employees often misclassified unconsciously they do not comprehend the conditions of employment or contract and are informed by the customer why it’s optimum generally to the customer why you must be utilized or engaged in this fashion the worker may owe taxes and Social Security to the authorities the future pension and healthcare benefits of the employee can be affected and several times it can be years before this all falls out and by that time it’s too late years have actually passed they have not contributed to pensions Etc so it’s a huge effect that they never knew they were strolling into you could not agree with you more if you say the UK for instance hmrc can return as much as ten years um Kathy companies are getting insurance versus misclassification but typically premiums are only covering the cost of legal charges whilst the typical claim assessed against employers corresponds to to 40 or 50 percent of the base salary of employee exists any point in securing insurance and what is the alternative yeah to your point um you do need to read the fine print it is not covering the taxes penalty and interest for the most part I haven’t seen it at least so uh the the other location that I do think if you managed to get the protection what we are stating is is that if your compliance program is not up to stuff you could be denied coverage on the basis of the truth that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Israel …
The comprehensive features of come at a cost,
Over the past few years, the workforce has gone through a substantial improvement with the introduction of remote work, which has gotten rid of geographical constraints on hiring. This has actually enabled organizations to hire talent from all over the world, permitting them to put together the very best possible group for each role. As a result, employees have gained greater flexibility to work from home and increase their revenues without needing to move to pricey areas or commute cross countries. According to a 2022 study, 87% of employees who have the choice to work remotely pick to do so. The COVID-19 pandemic, combined with developments in business connectivity software, has even more sped up the shift towards remote work, even in industries that were initially hesitant to adopt the pattern.
insights are valuable to us and and your fellow participants so first things first though um let’s get to know everybody my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had functions in all type of Industries retail and Beauty to Aerospace in all kinds of services startup to matrixed environments across the globe I provided management and strategy 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
Worldwide I work across the business man maning and building external relationships supporting Enterprise customers and services and functioning as a consultant I wish to introduce our very first Greg um guest 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 team and in fact work extremely closely with our um HR department also to manage numerous legal and HR matters that come up so really delighted to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our mission is to set you as HR specialists free to do excellent
While Papaya Global deals combinations with numerous HR and finance systems, the execution process was not without challenges. Integrating the software application with our existing infrastructure required additional modification, causing some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Israel 2024
and some smaller subsidiaries within our company discovered the rates to be on the greater side. As a global business, balancing the need for innovative features with spending plan constraints became a delicate workout.
Client Assistance Reaction Time:
There were circumstances where our teams faced problems that needed prompt support. Nevertheless, the response time from’s customer assistance group was not always as fast as desired, resulting in periodic hold-ups in problem resolution.
Our execution of involved a phased approach. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This enabled us to recognize and attend to combination challenges early on. As the software became more implanted in our operations, we gradually expanded its use to cover our whole worldwide workforce.
The automated functions structured our payroll procedures, lowering the time spent on manual estimations and compliance tracking. Regular training sessions and continuous support from Papaya helped our groups become competent users of the software, maximizing its potential for our company.
Companies that staff member workers across several nations often deal with elaborate difficulties when it comes to handling their labor force. One of the most significant obstacles is consolidating different data streams and adhering to varied regional and national labor policies, which can be both time-consuming and pricey. Moreover, setting up regional entities in brand-new areas can be an expensive and suboptimal option, with options such as opening a foreign subsidiary or working with an expert work company (PEO) often charging up to 15% of the payroll. These obstacles have actually resulted in a substantial increase in difficulty hiring certified personnel, with 75% of companies reporting this concern in 2022, a 21% boost from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
uses an option supporting all kinds of employment. It supplies an end-to-end platform, from employee onboarding and ongoing management to global payments and. It assists companies with labor law compliance in the jurisdictions in which they operate, offers management of employment benefits, and makes sure information 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 innovation gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to participate in the total webcast in order to receive your credits if you have any questions 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 finish 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 hello and thank you for joining us today we’re thrilled to have you here as we embark on a journey of information to guideline accomplishing
360 degree worker compliance where we’ll dive into the necessary aspects of the worker compliance management design throughout the session we’ll explore real world difficulties genuine local guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to protect your company and workers while remaining certified in an
Ever progressing regulatory environment in the everchanging world of service and finance making sure compliance with payroll regulations is not just important however likewise a legal imperative from the minute of hiring to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance risks that have significant repercussions however with a deeper more nuanced understanding of their commitments organizations can not just browse the intricate landscape however also proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools necessary to navigate the complex Terrain of compliance whether you’re a seasoned P expert a small business owner or somebody new to the field what I wish to do before we start and I think it’s truly essential
In our mission to improve efficiency and accuracy in handling our global labor force, our multinational corporation turned to, a leading and labor force management software application. The shift aimed to simplify the complex job of handling throughout different countries, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software application automatically updates itself to comply with ever-evolving tax and labor laws across several jurisdictions. This has been important in making sure that our processes remain certified in each country of operation.
is to state that the content here is illegal guidance it is just for your details please consult your legal team should you have any questions or concerns in relation to anything that we’ve gone over today our secret take crucial takeaways by the end of the webinar will be an understanding of worker compliance threats how to work with ly with self-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 have actually.
serve as your hris or is sort of your core staff member record um to manage that worker life cycle throughout their Journey with you as as a worker in addition to a payroll module we have to help you pay those workers and compensate them and benefits Administration module that permits you to assist manage the benefits you provide to your staff members so truly thrilled to be here represent um bamb booy container and talk about this subject um and I guess from my viewpoint I’ll I’ll most likely supply a great deal of a focus on the United States side of things when we talk about kind of compliance so happy to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay global yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment professional manager.
at I handle the employment Council in the US APAC EMA and Israel region I likewise act as us Council for I’m certified in New york city and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and workforce management as a Service labor force supplier to workers serving in over.
160 nations all right thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were kind of like going through the intro so it’s truly truly good to in fact see in the webinar chat where everyone’s really going to from today I can see that we have people 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 await everyone else to kind of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting for everybody to sort of join I’ll just run us through the agenda um today we are going to talk about hiring Talent brand-new greater Details Management termination compliance and automation wow the chat has got really actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is great so uh I’m hoping that we’re actually going to have some actually fantastic commentary and questions throughout the uh the webinar also all right so that’s the agenda then what I want to Now cover is the the compliance and the Personal privacy side of things so the the Journey of an employee and their data is Papaya Global Israel complex without fail and an.
Ever developing relationship that begins the minute an individual joins a company it continues throughout their employment and Beyond this journey can be divided into k to several key stages whilst we’re actually you know that they’re used with us so on boarding daily operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the employee has actually left your work throughout the journey organizations are accountable for gathering saving protecting worker information in compliance with data personal privacy regulations no matter where it is you’re running around the globe it frequently includes carrying out secure data management systems and ensuring strict adherence to regional requirements to safeguard both the worker and the organization the advancement of employee information and management c.