A CFO’s Perspective on Papaya Global Lessons…
The platform enables business to manage their global labor force and adhere to local work policies and tax laws. Papaya Global offers a variety of services, including payroll management, advantages administration, compliance management, time and presence tracking, and HR management. The platform is developed to simplify the intricacies of worldwide payroll and supply real-time visibility and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the dynamic landscape of international company operations, handling payroll across borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a global business, I comprehend the critical value of efficient and certified payroll management. In our pursuit of excellence, we have actually embraced ingenious options to streamline our procedures, and one such transformative tool is Software.
The Difficulty of Worldwide Payroll:
Global expansion brings about diverse difficulties, and payroll management is no exception. Differing tax guidelines, differing work laws, and numerous currencies make it important for organizations to embrace advanced services to ensure accuracy, compliance, and efficiency in payroll processing.
Software: A Comprehensive Option:
workers so it’s actually basic to make sure that you have actually thought about from the beginning any post-termination restrictions that you wish to put into the contract of work that they’re enforceable so that means you require to truly consider what it is you’re seeking to secure and why plainly Define what’s consisted of within the scope of that confidential information and attend to the duration of restriction post-determination that you want to apply and be truly able to to validate that in relation to copyright the position truly depends on the type of copyright you’re aiming to protect and also the jurisdiction so for example from a copyright point of view in the Netherlands the end client is most likely to have the um copyright rights in a copyright that the workers produced who’s been under their guidance and control immediately however in somewhere like Poland for instance that automatic right might not be there and that task would require to flow through the chain uh contractually so it truly depends upon the jurisdiction and the type of IP fine thank you Elizabeth Steve was remaining on the subject of contracts Miss classified misclassifying staff members
Papaya Global Software application has become a game-changer in the world of international payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, user-friendly interface. As the CFO, I have seen firsthand the positive effect of on our company’s monetary operations.
Unified International Payroll Processing:
allows our company to procedure payroll perfectly throughout several nations. The platform’s unified method allows for consistent payroll computations, decreasing mistakes and making sure compliance with local guidelines. This has actually substantially mitigated the dangers associated with international payroll processing.
likewise crucial for if later somebody says misclassification you have your file supported by the requisite files which the ideal examination tools to reveal someone that you had a thoughtful procedure and so what do you need to include in that procedure it’s the who the what the where and the when who are you dealing with are you dealing with a specific or are you dealing with a personal 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 professional than an employee so for example accounting
I.T engineering the creatives these all provide themselves more to that examination of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they need to be on website and handled once again another essential aspect is the management and guidance of the uh worker and then lastly when is it a particular project is it a six-month task 6 years all of this is manageable however it has to be documented and it has 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 globally these tools take a questionnaire list for the employee the worker fills out and fills these concerns out and so does completion client or the recipient of the services they both put their information into the tool and then it does an assessment waiting the different questions due to the fact that not every jurisdiction has the exact same sensation about some of these concerns some believe they’re more crucial than others and it comes out with a red yellow or green red you’re most likely an employee yellow you’re on the cusp we can most likely help you with that in terms of a few of the things you require to strengthen to ensure that you are given that assessment of uh independent professional or green where you were evaluated as an as a independent professional once that assessment is done all the requisite documents are below it so that if later on there
Navigating the intricacies of international employment laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in policies throughout jurisdictions. This guarantees that our payroll procedures follow the most recent standards, reducing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting companies and legal firms who help us keep our databases entirely approximately date and we likewise call on we need to when we see an uncommon or or particularly intricate scenarios okay thanks Steve I can simply see a quick concern in the Q a window yes the session will be tape-recorded and sent to guests afterwards um moving back to to the webinar itself Ray employer of record is controlled differently around the globe and the German law for example it’s classed as staff member leasing can you shed any light on some of the special factors to consider for nations and where the eor model isn’t managed yes Ian worker leasing or labor leasing as it’s likewise called which prevails in numerous countries especially in Europe enforces rigorous policies on items such as the length of assignment it likewise designates employees to collective bargaining agreements that provides rights and benefits but even in the countries that do not have those rigorous guidelines for example the UK Canada and the nordics there are regulations for each nation and each employee is treated the same as all the other workers because country and all those regulations require to be complied with alright thank you Ray um Kathy moving I would say to yourself what do business require to consider when determining agreement status to secure themselves and the rights of hires what are the pros and cons of hiring specialists and Freelancers versus long-term workers so clearly the the advantage of contractors versus employees is the the versatility for both the worker and for the company um but I can’t stress enough how important it is to have a constant thorough and a well-documented compliance
Papaya Global Lessons and Time Cost Savings:
The software’s automation abilities have actually significantly lowered the time and effort needed for payroll processing. Manual information entry and repeated tasks have been reduced, enabling our finance group to concentrate on strategic efforts instead of administrative problems. This has actually resulted in increased efficiency and performance within our financial operations.
in one considering that each state has its own regulations Californians are a few of the most stringent an example is pay slips on a payslip in California the best information 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 worker each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to worry to consider and we’re only two questions in and 10 minutes or two hiring in one nation is difficult enough however when hiring in a you understand on an international level it’s an entirely different story you need to ensure that you’re up to date with existing along with pending regional labor laws Steve um how do you make certain and guarantee that the people 2.0 team is on top of an ever-changing landscape and that your customers are totally supported and I’ll arrange this into 3 key things we do in most importantly you require to have the ideal group so we employ a group of worldwide professionals in Work Practices um that ex that group of specialists includes attorneys it consists of payroll professionals it includes HR professionals and these are individuals 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 know the cultures and it’s important to have that best team and really have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides detailed real-time analytics and reporting tools. As a CFO, having access to accurate and timely monetary data is important for decision-making. The platform’s reporting abilities empower me to make educated strategic choices based on real-time insights into our global payroll information.
application and its scope and the way that it applies to employment law in practice can be checked through the judicial system by way of case law examples of that would be the gotten rights regulation otherwise known as the 2p regulations in the UK the working time policies which has had numerous strands of that legislation tested particularly around holiday pay and obviously as Kathy’s going to come on to speak about later on work status which there’s been numerous precedence set over the years so I think it’s truly that consistent advancement of the employment law landscape that you really need to browse when when operating in Europe all right 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 basically 50 countries
Scalability for Company Growth:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software effortlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the developing needs of our worldwide company.
Worldwide 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 client services and I would say individually and collectively these 3 individuals have Decades of experience in in work law and worldwide Work Practices so thank you it’s a satisfaction to be with everybody here today seems like we’ve got the right people with us today and in in addition to to those well we also have one of our own Stars delete share head of Global Solutions at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business for around 4 and a half years as head of Collaborations I have developed Papaya’s network of in-country Partners in over 160 locations on an individual element and related to our subject today I’ve had the opportunity to transfer and operate in 3 different nations it is the business’s obligation to guarantee my security while residing in a foreign nation compliance with regional laws and policies is essential for me or anyone else as an expat or as a local so today we have invited our trusted Partners people 2.0 to demonstrate the significance of local
competence when business Go Worldwide thank you and enjoy all right thank you as I stated let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the questions you have actually been thinking of we’ll discuss the truths a business requires to think about when opening a new entity and broadening into brand-new countries as well as keeping things going we’ll cover aspects such as regional regulations considerations when working with compliance essential challenges payments and what not to do it is among 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 handle understanding what to do in each new situation as it rises is important on many levels understanding local guidelines and local laws as well as service practices helps reduce Associated and global growth papaya through our local experts can browse potential dangers such as copyright defense data personal privacy security concerns ensuring the company’s operations remain certified and safe and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has shown to be an important possession in our mission for effective and compliant international payroll management. As the CFO of a global business, I am confident in suggesting Papaya Global to organizations seeking to enhance their payroll procedures, enhance compliance, and accomplish greater efficiency in managing their international workforce. The software’s innovative features and commitment to quality align with our tactical goals, making it an essential part of our monetary operations.
I discover time and time again the employees often misclassified unknowingly they don’t understand the conditions of work or contract and are informed by the client why it’s most advantageous mainly to the customer why you need to be utilized or engaged in this style the employee might owe taxes and Social Security to the authorities the future pension and health care privileges of the worker can be impacted and a number of times it can be years before this all falls out and by that time it’s too late years have passed they have not contributed to pensions Etc so it’s a big effect that they never understood they were strolling into you could not agree with you more if you say the UK for instance hmrc can go back as much as ten years um Kathy business are getting insurance coverage against misclassification however typically premiums are just covering the cost of legal fees whilst the typical claim examined against employers equates to to 40 or 50 percent of the base salary of employee exists any point in getting insurance and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes charge and interest most of the times I have not seen it at least so uh the the other location that I do think if you managed to get the protection what we are saying is is that if your compliance program is not up to pack you could be rejected protection 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 Lessons …
The thorough features of come at a cost,
Recent decades have actually seen a remarkable modification to the workforce as the rise of remote work has actually broken down geographical barriers to working with. Businesses can now hire staff from anywhere worldwide, allowing them to access the very best readily available skill for any offered function. This provides workers more liberty to work from home and increase their earnings without moving to pricey locations or travelling fars away. A 2022 study discovered that 87% of employees who have the opportunity to work from another location take that chance. The break out of COVID-19, in conjunction with brand-new business connectivity software application, accelerated the transfer 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 first though um let’s learn more about everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I have actually had roles in all kind of Industries retail and Charm to Aerospace in all types of organizations start-up to matrixed environments across the globe I supplied management and strategy 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
International I work across the business guy maning and constructing external relationships supporting Business clients and services and functioning as a consultant I wish to present our very first Greg um visitor Greg who will kick things off by informing us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal team and really work really closely with our um HR department too to manage numerous legal and HR matters that show up so truly thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our mission is to set you as HR experts complimentary to do great
While Papaya Global deals integrations with various HR and finance systems, the application procedure was not without challenges. Incorporating the software with our existing facilities needed extra modification, causing some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Lessons 2024
and some smaller sized subsidiaries within our organization discovered the pricing to be on the greater side. As a worldwide company, balancing the requirement for advanced features with budget constraints became a delicate workout.
Client Support Reaction Time:
There were circumstances where our groups dealt with problems that needed prompt help. However, the response time from’s consumer support team was not always as quick as wanted, resulting in periodic delays in problem resolution.
Our execution of involved a phased technique. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This permitted us to determine and deal with combination obstacles early on. As the software ended up being more implanted in our operations, we slowly broadened its use to cover our entire global workforce.
The automated features structured our payroll procedures, minimizing the time spent on manual computations and compliance tracking. Regular training sessions and ongoing assistance from Papaya assisted our groups become competent users of the software application, optimizing its capacity for our organization.
However, paying a labor force can be complex. It is particularly challenging for business who utilize personnel across numerous countries, as they must constantly combine different information streams, by hand track regional and nationwide labor and guidelines, and spend important time and resources to establish regional entities in brand-new locations. These business are faced with suboptimal, expensive options, like opening a foreign subsidiary or employing an expert employment company, which is a regional company that employs employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported trouble hiring qualified workers, an increase of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
offers an option supporting all types of work. It provides an end-to-end platform, from staff member onboarding and continuous management to worldwide payments and. It helps companies with labor law compliance in the jurisdictions in which they run, provides management of employment benefits, and ensures data 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 workforce management. She co-founded after seeing the innovation gap in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to go to the complete webcast in order to get your credits if you have any concerns during 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 survey please make certain to complete it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hey there and thank you for joining us today we’re thrilled to have you here as we start a journey of data to regulation attaining
360 degree employee compliance where we’ll dive into the vital elements of the worker compliance management model throughout the session we’ll explore real life obstacles real regional guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to secure your company and employees while staying compliant in an
Ever progressing regulative environment in the everchanging world of service and finance ensuring compliance with payroll policies is not only crucial but also a legal important from the moment of working with to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance threats that have far-reaching consequences nevertheless with a much deeper more nuanced understanding of their commitments companies can not just navigate the elaborate landscape however likewise proactively guarantee this 360 degree compliance the webinar is designed to equip you with the knowledge and tools necessary to browse the complex Terrain of compliance whether you’re a seasoned P specialist a small company owner or somebody new to the field what I wish to do before we begin and I think it’s really essential
In our quest to enhance effectiveness and accuracy in handling our international workforce, our international corporation turned to, a leading and workforce management software application. The shift aimed to simplify the complex task of handling across various nations, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software automatically updates itself to stick to ever-evolving tax and labor laws throughout several jurisdictions. This has actually been indispensable in ensuring that our procedures remain certified 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 team needs to you have any concerns or issues in relation to anything that we have actually talked about today our key take key takeaways by the end of the webinar will be an understanding of worker compliance threats how to work with ly with confidence how to simplify data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
act as your hris or is type of your core worker record um to manage that employee life process throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those employees and compensate them and advantages Administration module that permits you to help handle the advantages you supply to your workers so actually excited to be here represent um bamb booy jar and speak about this topic um and I guess from my viewpoint I’ll I’ll probably supply a lot of a concentrate on the United States side of things when we discuss sort of compliance so pleased 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 global yes definitely thank you Ian hi everyone I’m Gina dorelis I’m the Work expert manager.
at I manage the employment Council in the US APAC EMA and Israel area I also work as us Council for I’m accredited in New York and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service labor force service provider to workers serving in over.
160 countries alright thank you so both I feel totally underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the introduction so it’s actually truly great to actually see in the webinar chat where everybody’s actually going to from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to continue inform where you are that would be absolutely wonderful whilst we simply wait on everybody else to sort of like take part there we go Chicago also well um so whil we’re doing that I’m waiting for everybody to type of join I’ll just run us through the agenda um today we are going to discuss employing Talent brand-new greater Info Management termination compliance and automation wow the chat has actually got truly truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over which is great so uh I’m hoping that we’re really going to have some truly excellent commentary and questions throughout the uh the webinar as well fine so that’s the agenda 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 worker and their data is Papaya Global Lessons complex without fail and an.
Ever progressing relationship that begins the minute a person joins an organization it continues throughout their work and Beyond this journey can be divided into k to a number of key phases whilst we’re in fact you understand that they’re employed with us so on boarding day-to-day operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the employee has left your work throughout the journey companies are accountable for collecting saving safeguarding worker data in compliance with information privacy guidelines no matter where it is you’re running all over the world it often involves executing safe information management systems and guaranteeing stringent adherence to local requirements to safeguard both the worker and the company the evolution of worker information and management c.