A CFO’s Point of view on Papaya Global Online Chat…
Papaya Global’s platform enhances international labor force management for business, guaranteeing compliance with regional guidelines and tax laws. Their services incorporate payroll processing, benefits administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes global payroll operations, offering businesses with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of international company operations, managing payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of an international business, I comprehend the important importance of efficient and compliant payroll management. In our pursuit of excellence, we have embraced ingenious solutions to streamline our processes, and one such transformative tool is Software application.
The Obstacle of Global Payroll:
International growth produces diverse difficulties, and payroll management is no exception. Differing tax regulations, varying work laws, and numerous currencies make it essential for organizations to adopt sophisticated options to make sure accuracy, compliance, and performance in payroll processing.
Software application: A Comprehensive Option:
staff members so it’s actually fundamental to make sure that you’ve considered from the outset any post-termination constraints that you want to take into the agreement of work that they’re enforceable so that indicates you need to really think of what it is you’re wanting to secure and why clearly Specify what’s consisted of within the scope of that confidential information and resolve the period of limitation post-determination that you wish to use and be really able to to justify that in relation to intellectual property the position actually depends on the kind of intellectual property you’re seeking to secure and also the jurisdiction so for instance from a copyright viewpoint in the Netherlands the end client is most likely to have the um intellectual property rights in a copyright that the workers produced who’s been under their guidance and control automatically however in someplace like Poland for example that automatic right might not exist and that project would need to flow through the chain uh contractually so it really depends upon the jurisdiction and the type of IP all right thank you Elizabeth Steve was staying on the subject of contracts Miss classified misclassifying staff members
Papaya Global Software has emerged as a game-changer in the world of global 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 experienced firsthand the positive effect of on our company’s monetary operations.
Unified Worldwide Payroll Processing:
allows our business to procedure payroll flawlessly across numerous countries. The platform’s unified method allows for constant payroll calculations, minimizing mistakes and making sure compliance with regional guidelines. This has actually considerably alleviated the risks related to global payroll processing.
also key for if later someone states misclassification you have your file supported by the requisite documents which the best evaluation tools to reveal someone that you had a thoughtful process therefore what do you need to include in that process 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 dealing with an individual 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 worker so for instance accounting
I.T crafting the creatives these all lend 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 need to be on site and managed once again another crucial element is the management and guidance of the uh worker and after that finally when is it a particular project is it a six-month job six years all of this is manageable but it needs to be recorded and it needs to be completely um investigated so we have a tool we call it ic2 we had an ic1 and we have actually enhanced it this year so that we can roll it out globally these tools take a questionnaire list for the worker the worker completes and fills these questions out and so does the end customer or the recipient of the services they both put their information into the tool and then it does an assessment waiting the different concerns since not every jurisdiction has the same sensation about a few of these concerns some believe they’re more important than others and it comes out with a red yellow or green red you’re probably an employee yellow you’re on the cusp we can probably help you with that in regards to some of the things you need to reinforce to make certain that you are given that examination of uh independent specialist or green where you were examined as an as a independent contractor once that evaluation is done all the requisite files are underneath it so that if later there
Navigating the intricacies of worldwide employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization updated with changes in policies throughout jurisdictions. This makes sure that our payroll procedures comply with the current requirements, minimizing the danger of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal companies who assist us keep our databases completely as much as date and we likewise call on we need to when we see an unusual or or especially intricate scenarios fine thanks Steve I can just see a fast concern in the Q a window yes the session will be taped and sent to guests afterwards um moving back to to the webinar itself Ray employer of record is regulated differently around the world and the German law for example it’s classed as staff member leasing can you shed any light on a few of the unique considerations for nations and where the eor model isn’t controlled yes Ian employee leasing or labor leasing as it’s also called which is prevalent in numerous nations especially in Europe enforces stringent guidelines on products such as the length of project it also designates workers to collective bargaining contracts that gives them rights and advantages but even in the countries that do not have those stringent regulations for instance the UK Canada and the nordics there are guidelines for each nation and each worker is treated the like all the other workers because nation and all those guidelines need to be complied with all right thank you Ray um Kathy moving I would state to yourself what do companies need to consider when identifying contract status to secure themselves and the rights of hires what are the pros and cons of employing contractors and Freelancers versus long-term employees so certainly the the advantage of specialists versus staff members is the the flexibility for both the employee and for the employer um but I can’t stress enough how essential it is to have a constant extensive and a well-documented compliance
Papaya Global Online Chat and Time Cost Savings:
The software’s automation abilities have considerably decreased the time and effort required for payroll processing. Handbook data entry and repeated jobs have been decreased, enabling our finance team to concentrate on strategic initiatives rather than administrative problems. This has actually resulted in increased effectiveness and efficiency within our monetary operations.
in one because each state has its own policies Californians are some of the most strict an example is pay slips on a payslip in California the right info needs to be on the payslip in the ideal format and in the best position if you remain in breach of of policies for payslips the fines are released per payslip so that’s each worker each pay slip will incur a great thanks Ray thank you Elizabeth a lot to stress to consider and we’re just two concerns in and 10 minutes or two hiring in one country is tough enough however when employing in a you know on a worldwide level it’s an entirely various story you need to make certain that you’re up to date with current along with pending regional labor laws Steve um how do you make sure and make sure that individuals 2.0 team is on top of an ever-changing landscape which your clients are totally supported and I’ll arrange this into three key things we carry out in firstly you need to have the ideal team so we hire a group of worldwide professionals in Work Practices um that ex that group of specialists consists of attorneys it consists of payroll professionals it consists of HR specialists and these are individuals that not only know the laws in these in these countries and regions but they also know the languages they know the local practices they know the cultures and it is very important to have that right 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 timely monetary data is crucial for decision-making. The platform’s reporting abilities empower me to make informed tactical decisions based on real-time insights into our international payroll information.
The practical application and extent of the application to work law can be evaluated through the legal system using case law examples. For example, the obtained rights directive, also referred to as the 2p guidelines in the UK, and the working time guidelines have actually been subject to numerous legal interpretations, especially regarding vacation pay. Furthermore, the idea of employment 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 business continues to grow and broaden into brand-new markets, the software application effortlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the developing requirements of our global organization.
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 customer service and I would say separately and jointly these three people have Decades of experience in in employment law and international Work Practices so thank you it’s a pleasure to be with everybody 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 Services at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I have actually been with the company for around 4 and a half years as head of Partnerships I have actually established Papaya’s network of in-country Partners in over 160 areas on a personal aspect and related to our subject today I’ve had the chance to relocate and work in 3 different countries it is the company’s obligation to ensure my protection while residing in a foreign country compliance with regional laws and regulations is important for me or anybody else as an expat or as a regional so today we have actually invited our trusted Partners individuals 2.0 to demonstrate the value of local
know-how when business Go Global thank you and take pleasure in all right thank you as I stated let’s carry on to the pact agenda today’s webinar is an opportunity to ask the panel the questions you have actually been thinking of we’ll talk about the truths a business requires to consider when opening a new entity and expanding into brand-new countries along with keeping things going we’ll cover elements such as regional policies factors to consider when hiring compliance key challenges 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 bigger a business grows the more they need to comprehend and manage knowing what to do in each new situation as it increases is important on lots of levels understanding local policies and local laws as well as service practices helps reduce Associated and worldwide expansion papaya through our regional experts can browse prospective threats such as intellectual property defense data privacy security issues guaranteeing the company’s operations stay compliant and secure 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 efficient and certified global payroll management. As the CFO of a worldwide business, I am positive in recommending Papaya Global to organizations seeking to improve their payroll procedures, enhance compliance, and attain higher efficiency in handling their global workforce. The software’s innovative functions and dedication to excellence line up with our tactical goals, making it an important part of our monetary operations.
I find time and time again the employees typically misclassified unconsciously they don’t comprehend the conditions of work or contract and are informed by the customer why it’s optimum generally to the customer why you must be utilized or participated in this fashion the worker might owe taxes and Social Security to the authorities the future pension and health care privileges of the employee 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 passed they haven’t contributed to pensions And so on so it’s a huge impact that they never ever understood they were strolling into you couldn’t agree with you more if you say the UK for instance hmrc can go back as much as 10 years um Kathy business are securing insurance coverage versus misclassification but normally premiums are just covering the cost of legal costs whilst the average claim evaluated versus employers equates to to 40 or 50 percent of the base pay of employee exists any point in getting insurance and what is the alternative yeah to your point um you do require to check out the small print it is not covering the taxes charge and interest in most cases I haven’t seen it a minimum of so uh the the other area that I do believe if you managed to get the protection what we are saying is is that if your compliance program is not up to pack you could be rejected 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 Online Chat …
The extensive functions of come at a cost,
Current years have actually seen a remarkable change to the workforce as the increase of remote work has actually broken down geographical barriers to hiring. Companies can now hire staff from anywhere worldwide, enabling them to access the very best readily available talent for any offered function. This provides workers more freedom to work from home and increase their earnings without relocating to costly areas or travelling long distances. A 2022 survey found that 87% of workers who have the opportunity to work from another location take that chance. The break out of COVID-19, in conjunction with new business connectivity software, sped up the move to remote work, consisting of in industries formerly hesitant to accept the trend.
insights are important to us and and your fellow attendees so first things initially though um let’s be familiar with everybody my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had roles in all kind of Industries retail and Charm to Aerospace in all types of companies start-up to matrixed environments around the world I supplied leadership and technique to populations of more than 100,000 employees on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work across the business guy maning and developing external relationships supporting Enterprise clients and services and serving as a consultant I want to present our very first Greg um guest 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 in-house legal team and actually work very carefully with our um HR department also to deal with different legal and HR matters that come up so truly 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 free to do excellent
While Papaya Global deals integrations with numerous HR and finance systems, the implementation procedure was not without obstacles. Incorporating the software with our existing infrastructure needed extra modification, leading to some delays in the preliminary rollout.
Paying FAQs Papaya Global Online Chat 2024
and some smaller sized subsidiaries within our company discovered the pricing to be on the greater side. As a worldwide business, balancing the need for sophisticated features with budget constraints became a fragile exercise.
Client Assistance Action Time:
There were instances where our teams dealt with concerns that needed timely assistance. However, the response time from’s consumer support group was not always as fast as desired, leading to occasional delays in problem resolution.
Our execution of involved a phased approach. We started by onboarding a few subsidiaries to test the system’s compatibility with our existing processes. This permitted us to recognize and address integration obstacles early on. As the software application became more implanted in our operations, we gradually broadened its usage to cover our entire international workforce.
The automated features structured our payroll processes, reducing the time spent on manual estimations and compliance tracking. Regular training sessions and ongoing assistance from Papaya assisted our groups become competent users of the software, optimizing its capacity for our company.
Companies that staff member workers throughout multiple countries frequently deal with complex difficulties when it concerns managing their labor force. Among the biggest obstacles is consolidating different information streams and adhering to varied regional and national labor guidelines, which can be both time-consuming and costly. Furthermore, setting up regional entities in brand-new areas can be a costly and suboptimal alternative, with options such as opening a foreign subsidiary or employing an expert work organization (PEO) typically charging up to 15% of the payroll. These challenges have caused a substantial boost in difficulty hiring certified workers, with 75% of employers reporting this problem in 2022, a 21% increase from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers a solution supporting all forms of employment. It offers an end-to-end platform, from staff member onboarding and continuous management to international payments and. It assists companies with labor law compliance in the jurisdictions in which they run, uses management of employment benefits, and guarantees information 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 global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to go to the complete webcast in order to get your credits if you have any concerns throughout the webcast please click on the Q&A tab in your webinar controls and type the there a new tab will open in your web browser with the webcast survey please be sure 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 discussion hi and thank you for joining us today we’re thrilled to have you here as we start a journey of information to policy achieving
360 degree employee compliance where we’ll dive into the vital elements of the worker compliance management design throughout the session we’ll check out real world difficulties real local policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to protect your organization and workers while remaining certified in an
Ever progressing regulatory environment in the everchanging world of business and financing guaranteeing compliance with payroll guidelines is not just crucial however also a legal crucial from the minute of employing to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance threats that have significant repercussions however with a deeper more nuanced understanding of their responsibilities organizations can not just browse the detailed landscape but also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the understanding and tools necessary to navigate the complex Surface of compliance whether you’re a seasoned P professional a small company owner or somebody new to the field what I would like to do before we start and I believe it’s really essential
In our quest to boost efficiency and accuracy in managing our international workforce, our multinational corporation turned to, a leading and workforce management software. The shift intended to streamline the complex job of managing throughout numerous nations, currencies, and compliance policies.
Among the standout functions of is its robust compliance management system. The software immediately updates itself to stick to ever-evolving tax and labor laws across multiple jurisdictions. This has actually been vital in ensuring that our procedures remain certified in each country of operation.
is to state that the material here is not legal advice it is just for your details please consult your legal team should you have any questions or concerns in relation to anything that we have actually gone over today our key take crucial takeaways by the end of the webinar will be an understanding of employee compliance dangers how to hire ly with self-confidence how to streamline 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 employee record um to manage that staff member life cycle throughout their Journey with you as as a worker in addition to a payroll module we have to help you pay those staff members and compensate them and benefits Administration module that enables you to assist manage the advantages 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 think from my perspective I’ll I’ll most likely provide a great deal of a concentrate on the US side of things when we discuss sort 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 little bit about papay international yes definitely thank you Ian hi everybody I’m Gina dorelis I’m the Employment professional supervisor.
at I handle the employment Council in the United States APAC EMA and Israel area I likewise function as us Council for I’m accredited in New york city and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service work force company to employees serving in over.
160 countries all right thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were type of like going through the intro so it’s truly really good to really see in the webinar chat where everyone’s really participating in from today I can see that we have individuals in Las Vegas and Indiana already so if you wish to carry on tell where you are that would be definitely fantastic whilst we just wait for everybody else to type of like join in there we go Chicago also well um so whil we’re doing that I’m waiting for everybody to type of join I’ll simply run us through the agenda um today we are going to go over employing Talent new higher Details 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 coming from absolutely everywhere which is fantastic so uh I’m hoping that we’re actually going to have some really great commentary and concerns throughout the uh the webinar also fine so that’s the agenda then what I wish 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 Online Chat multifaceted without fail and an.
Ever developing relationship that begins the minute a person signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous key phases whilst we’re really you know that they’re employed with us so on boarding daily operations settlement and benefits expert advancement then we get to the offboarding and even advocacy so it even takes place after the employee has actually left your employment throughout the journey organizations are accountable for collecting keeping securing employee information in compliance with data personal privacy guidelines no matter where it is you’re running around the world it typically includes carrying out safe and secure data management systems and making sure strict adherence to local requirements to safeguard both the staff member and the company the development of staff member data and management c.