A CFO’s Viewpoint on Papaya Global Netherlands…
Papaya Global’s platform streamlines global workforce management for companies, ensuring compliance with regional guidelines and tax laws. Their services incorporate payroll processing, advantages administration, compliance oversight, time and attendance tracking, and HR assistance. The platform centralizes global payroll operations, supplying organizations with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of worldwide business operations, handling payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of an international business, I comprehend the critical importance of efficient and compliant payroll management. In our pursuit of quality, we have actually accepted ingenious solutions to simplify our processes, and one such transformative tool is Software.
The Obstacle of Worldwide Payroll:
Global growth brings about varied challenges, and payroll management is no exception. Differing tax policies, differing employment laws, and numerous currencies make it crucial for companies to embrace sophisticated options to make sure precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Service:
It is essential to think about and consist of post-termination restrictions in the employment contract to make sure enforceability. You should thoroughly determine what you are seeking to safeguard and clearly define the confidential information that falls within its scope. Furthermore, define the duration of the post-termination constraint and be prepared to justify it in relation to copyright. The rules relating to copyright differ depending on the type of IP and the jurisdiction. For instance, in the Netherlands, completion client is most likely to have copyright rights over works produced by workers under their supervision, while in Poland, contractual project may be required.
Papaya Global Software has actually emerged as a game-changer in the realm of international payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly user interface. As the CFO, I have experienced firsthand the favorable impact of on our organization’s financial operations.
Unified Global Payroll Processing:
allows our business to procedure payroll flawlessly throughout numerous nations. The platform’s unified technique permits consistent payroll computations, minimizing errors and making sure compliance with regional guidelines. This has actually significantly reduced the risks related to worldwide payroll processing.
likewise crucial for if in the future someone says misclassification you have your file supported by the requisite documents and that the best evaluation tools to reveal somebody that you had a thoughtful process and so 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 dealing with an individual or are you dealing with a personal Service Corporation and how are they operating what are they doing is it the kind of work that provides itself more to being an independent specialist than a staff member so for example accounting
I.T crafting the creatives these all lend 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 website and managed again another essential factor is the management and supervision of the uh employee and then lastly when is it a particular project is it a six-month project 6 years all of this is manageable however it has to be documented and it needs to be thoroughly um investigated 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 employee fills out and fills these questions 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 evaluation waiting the various concerns because not every jurisdiction has the same sensation 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 probably a staff member yellow you’re on the cusp we can most likely help you with that in terms of some of the things you require to reinforce to ensure that you are considered that assessment of uh independent specialist or green where you were evaluated as an as a independent professional once that assessment is done all the requisite files are beneath it so that if later there
Browsing the intricacies of international employment laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our company current with modifications in policies throughout jurisdictions. This makes sure that our payroll procedures follow the latest standards, minimizing the risk of non-compliance and associated charges.
network of In-House outside consultants accounting companies and legal firms who help us keep our databases entirely up to date and we likewise contact we require to when we see an unusual or or particularly complicated scenarios all right thanks Steve I can just see a fast concern in the Q a window yes the session will be recorded and sent to attendees later on um moving back to to the webinar itself Ray employer of record is regulated in a different way all over the world and the German law for instance it’s classed as worker leasing can you shed any light on some of the unique considerations 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 a number of nations particularly in Europe enforces strict guidelines on products such as the length of task it likewise designates workers to collective bargaining contracts that gives them rights and advantages however even in the countries that don’t have those rigorous policies for example the UK Canada and the nordics there are guidelines for each nation and each worker is dealt with the same as all the other employees because country and all those regulations need to be complied with okay thank you Ray um Kathy moving I would state to yourself what do companies need to consider when figuring out agreement status to protect themselves and the rights of hires what are the pros and cons of hiring specialists and Freelancers versus permanent workers so clearly the the advantage of professionals versus employees is the the versatility for both the worker and for the employer um however I can’t stress enough how crucial it is to have a consistent thorough and a well-documented compliance
Papaya Global Netherlands and Time Savings:
The software application’s automation capabilities have substantially lowered the time and effort required for payroll processing. Manual information entry and recurring jobs have been reduced, permitting our financing group to concentrate on strategic initiatives rather than administrative concerns. This has actually 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 rigorous an example is pay slips on a payslip in California the right information needs to be on the payslip in the ideal format and in the best position if you’re in breach of of regulations for payslips the fines are provided per payslip so that’s each employee each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to stress to consider and we’re just two questions in and 10 minutes approximately hiring in one country is hard enough but when employing in a you understand on a worldwide level it’s a completely various story you need to make sure that you’re up to date with present in addition to pending local labor laws Steve um how do you ensure and ensure that the people 2.0 team is on top of an ever-changing landscape and that your clients are fully supported and I’ll arrange this into three essential things we carry out in firstly you need to have the best team so we employ a group of international specialists in Work Practices um that ex that team of experts includes attorneys it includes payroll experts it includes HR professionals and these are individuals that not just 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 is very important to have that best group and really have the team 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 financial information is essential for decision-making. The platform’s reporting abilities empower me to make informed tactical choices based on real-time insights into our international payroll information.
The practical application and level of the application to work law can be assessed through the legal system utilizing case law examples. For example, the gotten rights regulation, also known as the 2p guidelines in the UK, and the working time policies have actually gone through various legal analyses, especially regarding holiday pay. Additionally, the principle of work status has seen numerous legal precedents over the
Scalability for Service Development:
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 seamlessly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the developing requirements of our international organization.
International Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Gander who is our senior vice president of client services and I would say separately and jointly these 3 individuals have Years of experience in in work law and global Work Practices so thank you it’s an enjoyment 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 delete share head of Global Provider at papaya Worldwide 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 established Papaya’s network of in-country Partners in over 160 areas on an individual element and related to our subject today I’ve had the opportunity to relocate and work in 3 different nations it is the company’s duty to ensure my security while residing in a foreign nation compliance with regional laws and regulations is vital for me or anybody else as an expat or as a local so today we have invited our relied on Partners people 2.0 to demonstrate the importance of regional
expertise when companies Go International thank you and enjoy alright thank you as I said let’s move on to the pact program today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking of we’ll talk about the realities a company requires to think about when opening a brand-new entity and expanding into new nations as well as keeping things going we’ll cover elements such as regional guidelines factors to consider when working with compliance key difficulties payments and what not to do it’s one of the most crucial things remembering what not to do um operating on a global level is not for the faint-hearted the bigger a business grows the more they need to understand and handle understanding what to do in each brand-new circumstance as it increases is very important on lots of levels understanding local guidelines and regional laws in addition to business practices helps alleviate Associated and worldwide expansion papaya through our regional specialists can navigate potential risks such as copyright defense information personal privacy security issues ensuring the company’s operations remain certified and protected tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has actually shown to be an indispensable possession in our quest for effective and certified international payroll management. As the CFO of an international company, I am positive in recommending Papaya Global to companies seeking to simplify their payroll processes, enhance compliance, and achieve higher performance in managing their worldwide labor force. The software’s innovative functions and dedication to quality align with our strategic goals, making it an important part of our financial 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 announced settlements there’s also significant legal expenses there’s there’s other penalties there’s other costs behind that also so the overall expense can be very significant in the 10s of countless dollars or more and and those amounts are growing uh the reason that companies are getting it so incorrect is really simply the guidelines are complex and they’re changing all the time think ir-35 in the UK which has actually been an ongoing development for a number of years now and and still a lot of unpredictability amongst business on what it truly implies and how you handle it most employers are just not knowledgeable about the guidelines and and act as if the the rules are the same everywhere which they’re not so so encourage you to to be very proactive as you’re engaging uh employees from a classification point of view okay thank you Stephen and returning to yourself Ray it’s not only the business that suffers in the long run what effects can this have on the staff member Papaya Global Netherlands particularly when it comes to their own tax liabilities social security and advantages for instance jury and obviously the employees the other side of the coin
I discover time and time again the workers frequently misclassified unknowingly they don’t comprehend the conditions of work or contract and are told by the client why it’s most advantageous mainly to the customer why you must be utilized or engaged in this style the employee might owe taxes and Social Security to the authorities the future pension and health care opportunities 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 have not added to pensions Etc so it’s a huge impact that they never ever 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 10 years um Kathy companies are securing insurance coverage versus misclassification but generally premiums are only covering the expense of legal costs whilst the average claim examined versus companies relates to to 40 or 50 percent 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 read the fine print it is not covering the taxes charge and interest in most cases I have not seen it a minimum of so uh the the other location that I do think if you managed to get the coverage what we are stating is is that if your compliance program is not up to stuff you could be rejected protection on the basis of the reality that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Netherlands …
The extensive functions of come at an expense,
Over the past couple of decades, the workforce has undergone a substantial change with the introduction of remote work, which has removed geographical constraints on hiring. This has made it possible for companies to hire skill from all over the world, allowing them to assemble the best possible group for each role. As a result, employees have gained greater versatility to work from home and increase their earnings without having to transfer to expensive locations or commute fars away. According to a 2022 survey, 87% of workers who have the alternative to work remotely choose to do so. The COVID-19 pandemic, integrated with advancements in enterprise connectivity software application, has actually even more accelerated the shift towards remote work, even in industries that were at first hesitant to adopt the trend.
insights are valuable to us and and your fellow participants so first things first though um let’s learn more about everybody my name is Ian Charles and I have actually worked in payroll for the last 25 years I have actually had roles in all kind of Industries retail and Beauty to Aerospace in all types of companies startup to matrixed environments across the globe I offered leadership and technique to populations of more than 100,000 employees on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
Global I work throughout business man maning and building external relationships supporting Business customers and solutions and serving as an advisor I ‘d like to introduce 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 group and actually work extremely carefully with our um HR department also to deal with various legal and HR matters that turn up so truly 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 professionals free to do terrific
Although Papaya Global offers integrations with numerous HR and financing systems, we experienced some hurdles throughout the integration procedure. Personalizing the software application to line up with our existing facilities showed to be more intricate than prepared for, leading to delays in the initial rollout.
The substantial features offered by Papaya Global come at a cost, which a few of our smaller subsidiaries found to be excessively pricey. As a worldwide company, we had to thoroughly weigh the need for advanced performance against budget restraints.
Assistance Action Time:
On occasion, our groups experienced issues that required immediate support. However, the action time from Papaya Global’s consumer assistance team was not constantly as timely as we would have liked, leading to hold-ups in resolving those concerns.
Our application of involved a phased approach. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This allowed us to determine and deal with integration challenges early on. As the software application became more instilled in our operations, we gradually expanded its use to cover our whole global workforce.
The automated functions streamlined our payroll procedures, lowering the time invested in manual computations and compliance tracking. Regular training sessions and continuous support from Papaya assisted our groups become skilled users of the software, optimizing its capacity for our organization.
Nevertheless, paying a workforce can be complex. It is especially challenging for business who use staff across several nations, as they should continuously consolidate various information streams, manually track local and national labor and policies, and spend valuable time and resources to establish local entities in brand-new locations. These business are confronted with suboptimal, pricey alternatives, like opening a foreign subsidiary or hiring a professional employment organization, which is a regional firm that works with staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported problem recruiting qualified workers, a boost of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is predicted to reach $50.4 billion by 2030.
offers a solution supporting all forms of employment. It supplies an end-to-end platform, from worker onboarding and continuous management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they operate, offers management of employment advantages, and ensures data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading expert in payroll and workforce management. She co-founded after seeing the innovation gap in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make certain to go to the total webcast in order to get 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 new tab will open in your browser with the webcast study please make sure 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 discussion hello and thank you for joining us today we’re thrilled to have you here as we start a journey of information to regulation attaining
360 degree employee compliance where we’ll dive into the essential elements of the worker compliance management model throughout the session we’ll check out real life difficulties real local guidelines best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to protect your organization and workers while staying compliant in an
Ever evolving regulative environment in the everchanging world of organization and financing ensuring compliance with payroll guidelines is not just crucial but likewise a legal necessary from the moment of employing to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance threats that have significant consequences however with a much deeper more nuanced understanding of their responsibilities organizations can not only browse the elaborate landscape however likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools essential to browse the complex Surface of compliance whether you’re a seasoned P specialist a small company owner or somebody brand-new to the field what I wish to do before we begin and I think it’s truly important
In our quest to enhance effectiveness and precision in handling our international workforce, our international corporation turned to, a leading and labor force management software. The shift intended to simplify the complex task of handling across various countries, currencies, and compliance guidelines.
Among the standout features of is its robust compliance management system. The software automatically updates itself to comply with ever-evolving tax and labor laws throughout several jurisdictions. This has actually been indispensable in making sure that our processes stay compliant in each country of operation.
is to state that the material here is not legal recommendations it is merely for your details please consult your legal group should you have any concerns or issues in relation to anything that we have actually gone over today our key take essential takeaways by the end of the webinar will be an understanding of worker compliance dangers how to hire 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.
work as your hris or is type of your core worker record um to manage that staff member life process throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those workers and compensate them and advantages Administration module that enables you to help manage the advantages you offer to your employees so really thrilled to be here represent um bamb booy container and discuss this topic um and I think 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 discuss sort of compliance so pleased to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay worldwide yes definitely thank you Ian hello everyone I’m Gina dorelis I’m the Employment professional supervisor.
at I handle the employment Council in the US APAC EMA and Israel region I also work 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 workforce management as a Service labor force supplier to workers 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 type of like going through the intro so it’s truly actually nice to actually see in the webinar chat where everybody’s actually going to from today I can see that we have people in Las Vegas and Indiana currently so if you wish to carry on tell where you are that would be definitely great whilst we just wait for everybody else to sort of like participate there we go Chicago also well um so whil we’re doing that I’m awaiting everybody to kind of join I’ll just run us through the agenda um today we are going to discuss employing Talent new higher Details Management termination compliance and automation wow the chat has got truly really hectic 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 really going to have some truly terrific commentary and concerns throughout the uh the webinar also alright 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 an employee and their information is Papaya Global Netherlands complex without fail and an.
Ever progressing relationship that starts the moment a person joins an organization it continues throughout their work and Beyond this journey can be divided into k to a number of essential stages whilst we’re in fact you know that they’re utilized with us so on boarding everyday operations payment and advantages expert development then we get to the offboarding and even advocacy so it even occurs after the worker has actually left your work throughout the journey companies are accountable for collecting keeping safeguarding employee information in compliance with information personal privacy regulations no matter where it is you’re running around the world it typically involves carrying out protected data management systems and making sure stringent adherence to local requirements to secure both the worker and the company the advancement of employee information and management c.