A CFO’s Point of view on Papaya Global Online…
The platform enables business to handle their international workforce and adhere to regional employment policies and tax laws. Papaya Global offers a series of services, including payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is developed to streamline the intricacies of global payroll and provide real-time exposure and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New York, London, and Kiev.
In the vibrant landscape of global company operations, handling payroll throughout borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of an international company, I comprehend the crucial importance of effective and compliant payroll management. In our pursuit of quality, we have embraced innovative options to streamline our processes, and one such transformative tool is Software application.
The Challenge of International Payroll:
International growth produces diverse difficulties, and payroll management is no exception. Differing tax regulations, differing work laws, and numerous currencies make it important for companies to adopt sophisticated services to guarantee precision, compliance, and performance in payroll processing.
Software: A Comprehensive Option:
It is crucial to think about and include post-termination limitations in the employment agreement to guarantee enforceability. You need to thoroughly identify what you are seeking to secure and clearly specify the confidential information that falls within its scope. Additionally, define the period of the post-termination constraint and be prepared to validate it in relation to copyright. The guidelines regarding copyright differ depending on the type of IP and the jurisdiction. For instance, in the Netherlands, the end customer is likely to have copyright rights over works produced by employees under their supervision, while in Poland, legal task might be necessary.
Papaya Global Software has actually become a game-changer in the realm of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, user-friendly user interface. As the CFO, I have actually witnessed firsthand the positive effect of on our company’s financial operations.
Unified Worldwide Payroll Processing:
allows our company to procedure payroll seamlessly throughout several nations. The platform’s unified approach allows for constant payroll computations, lowering mistakes and ensuring compliance with local policies. This has considerably mitigated the dangers related to international payroll processing.
also crucial for if later somebody states misclassification you have your file supported by the requisite documents which the ideal evaluation tools to show someone that you had a thoughtful process therefore what do you have to include because procedure it’s the who the what the where and the when who are you handling are you dealing with a specific or are you handling 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 contractor than an employee so for example accounting
I.T crafting the creatives these all provide themselves more to that assessment of being freelancer you know also uh where are they doing it can they work from anywhere or do they have to be on website and managed again another key factor is the management and supervision of the uh employee and after that finally when is it a particular job is it a six-month task 6 years all of this is manageable however it has 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 have actually improved it this year so that we can roll it out globally these tools take a survey list for the worker the worker completes and fills these concerns out therefore does completion customer or the recipient of the services they both put their details into the tool and after that it does an examination waiting the different questions because not every jurisdiction has the very same feeling about a few of these concerns some believe they’re more important than others and it brings out a red yellow or green red you’re most likely an employee yellow you’re on the cusp we can most likely assist you with that in regards to a few of the things you need to bolster to make certain that you are considered that assessment of uh independent professional or green where you were assessed as an as a independent specialist once that assessment is done all the requisite documents are beneath it so that if in the future there
Navigating the complexities of international work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our company current with changes in guidelines across jurisdictions. This guarantees that our payroll procedures adhere to the most recent requirements, decreasing the threat of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal companies who assist us keep our databases totally up to date and we also call on we need to when we see an unusual or or especially intricate scenarios okay thanks Steve I can simply see a quick concern in the Q a window yes the session will be recorded and sent out to attendees afterwards um returning to to the webinar itself Ray company of record is controlled in a different way worldwide and the German law for instance it’s classed as worker leasing can you shed any light on some of the special considerations for nations and where the eor design isn’t managed yes Ian worker leasing or labor leasing as it’s also called which is prevalent in numerous countries specifically in Europe imposes stringent policies on products such as the length of assignment it likewise assigns workers to collective bargaining contracts that gives them rights and advantages however even in the nations that don’t have those strict policies for example the UK Canada and the nordics there are policies for each nation and each employee is dealt with the like all the other workers in that country and all those guidelines require to be followed all right thank you Ray um Kathy moving I would say to yourself what do business require to factor in when identifying agreement status to safeguard themselves and the rights of hires what are the advantages and disadvantages of employing contractors and Freelancers versus irreversible staff members so clearly the the benefit of professionals versus workers is the the flexibility for both the worker and for the company um however I can’t worry enough how essential it is to have a consistent comprehensive and a well-documented compliance
Papaya Global Online and Time Savings:
The software’s automation capabilities have actually considerably reduced the time and effort needed for payroll processing. Handbook data entry and recurring jobs have been lessened, permitting our finance team to concentrate on tactical initiatives rather than administrative burdens. This has actually resulted in increased performance and productivity within our monetary operations.
in one because each state has its own policies Californians are some of the most rigorous an example is pay slips on a payslip in California the right info needs to be on the payslip in the right format and in the best position if you remain in breach of of regulations for payslips the fines are provided per payslip so that’s each worker each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to worry to think about and we’re only 2 concerns in and 10 minutes or two hiring in one country is hard enough however when employing in a you know on an international level it’s a totally different story you require to ensure that you depend on date with current as well as 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 which your customers are fully supported and I’ll arrange this into three crucial things we perform in primarily you require to have the ideal group so we hire a team of global experts in Work Practices um that ex that team of professionals consists of lawyers it consists of payroll experts it consists of HR professionals and these are people that not only know the laws in these in these countries and regions but they also know the languages they know the regional practices they know the cultures and it is very important to have that ideal group and truly have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers 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 educated tactical choices based on real-time insights into our global payroll data.
The practical application and level of the application to employment law can be examined through the legal system utilizing case law examples. For instance, the gotten rights instruction, likewise known as the 2p regulations in the UK, and the working time policies have been subject to different legal interpretations, especially relating to vacation pay. Furthermore, the concept of employment status has seen multiple legal precedents over the
Scalability for Organization Growth:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and expand into brand-new markets, the software perfectly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll facilities can adapt to the progressing requirements of our global company.
Worldwide Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Look who is our senior vice president of client services and I would say individually and collectively these three people have Years of experience in in work law and worldwide Employment Practices so thank you it’s an enjoyment to be with everybody here today seems like we have actually got the right people with us today and in in addition to to those well we also have among our own Stars delete share head of Global Solutions at papaya International tell us about yourself thank you Elin Ian hey there my name is Elite I have actually 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 aspect and related to our subject today I have actually had the chance to transfer and operate in three various countries it is the business’s responsibility to ensure my security while residing in a foreign country compliance with local laws and regulations is important for me or anyone else as an expat or as a regional so today we have actually welcomed our relied on Partners individuals 2.0 to demonstrate the value of local
knowledge when business Go Worldwide thank you and take pleasure in alright thank you as I stated let’s move on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking about we’ll go over the facts a business requires to consider when opening a new entity and broadening into new nations as well as keeping things going we’ll cover aspects such as regional guidelines considerations when working with compliance key challenges payments and what not to do it is among the most crucial things remembering what not to do um operating on a global level is not for the faint-hearted the bigger a company grows the more they need to comprehend and handle knowing what to do in each new circumstance as it increases is important on numerous levels understanding regional policies and local laws in addition to company practices assists reduce Associated and global growth papaya through our regional experts can browse prospective threats such as copyright security information privacy security issues making sure the business’s operations remain compliant and protected tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software application has proven to be an indispensable asset in our mission for efficient and compliant global payroll management. As the CFO of an international business, I am positive in advising Papaya Global to organizations seeking to enhance their payroll processes, boost compliance, and accomplish higher performance in handling their international labor force. The software application’s ingenious features and dedication to excellence align with our tactical objectives, making it an integral part of our financial operations.
publicly 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 likewise considerable legal expenses there exists’s other charges there’s other expenses behind that as well so the total cost can be very significant in the 10s of countless dollars or more and and those amounts are growing uh the reason business are getting it so wrong is really simply the guidelines are intricate and they’re altering all the time think ir-35 in the UK which has actually been an ongoing advancement for a number of years now and and still a great deal of unpredictability among business on what it truly means and how you handle it most companies are just not aware of the rules and and act as if the the rules are the same all over which they’re not so so encourage you to to be extremely proactive as you’re engaging uh employees from a classification perspective fine thank you Stephen and moving back to yourself Ray it’s not just the company that suffers in the long run what effects can this have on the staff member Papaya Global Online particularly when it concerns their own tax liabilities social security and benefits for example jury and clearly the workers the opposite of the coin
I discover time and time again the workers typically misclassified unknowingly they do not understand the conditions of employment or agreement and are informed by the customer why it’s most advantageous mainly to the customer why you must be employed or taken part in this style the worker may owe taxes and Social Security to the authorities the future pension and healthcare benefits of the employee 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 actually passed they have not added to pensions Etc so it’s a huge impact that they never knew 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 taking out insurance coverage against misclassification but typically premiums are just covering the cost of legal charges whilst the typical claim assessed versus employers equates to to 40 or half of the base pay of employee exists any point in getting insurance coverage 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 in many cases I haven’t 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 saying is is that if your compliance program is not up to pack you could be denied coverage on the basis of the reality that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Online …
The thorough functions of come at a cost,
Recent decades have seen a dramatic modification to the workforce as the rise of remote work has actually broken down geographical barriers to working with. Organizations can now hire staff from anywhere worldwide, allowing them to access the best available talent for any provided role. This provides employees more freedom to work from home and increase their income without moving to expensive areas or commuting fars away. A 2022 study found that 87% of workers who have the possibility to work remotely take that opportunity. The outbreak of COVID-19, in conjunction with new business connectivity software application, accelerated the move to remote work, consisting of in industries previously reluctant to embrace the pattern.
insights are valuable to us and and your fellow participants so first things initially though um let’s be familiar with everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had functions in all type of Industries retail and Appeal to Aerospace in all types of services start-up to matrixed environments around the world I offered leadership and technique to populations of more than 100,000 workers on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work throughout business guy maning and developing external relationships supporting Enterprise clients and solutions and acting as an advisor I wish to introduce our 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 stated my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our internal legal group and in fact work very carefully with our um HR department as well to handle various legal and HR matters that turn up so really thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our mission is to set you as HR experts complimentary to do excellent
Although Papaya Global offers combinations with different HR and financing systems, we came across some difficulties during the combination procedure. Personalizing the software to line up with our existing infrastructure showed to be more intricate than prepared for, resulting in hold-ups in the preliminary rollout.
The comprehensive functions provided by Papaya Global come at a cost, which some of our smaller sized subsidiaries found to be prohibitively pricey. As an international company, we needed to thoroughly weigh the requirement for advanced performance against budget restraints.
Support Response Time:
On occasion, our groups experienced concerns that needed immediate help. Nevertheless, the action time from Papaya Global’s consumer support team was not constantly as timely as we would have liked, causing delays in fixing those problems.
Our application of involved a phased technique. We began by onboarding a few subsidiaries to test the system’s compatibility with our existing processes. This allowed us to determine and address integration difficulties early on. As the software became more implanted in our operations, we gradually broadened its usage to cover our entire global labor force.
The automated functions streamlined our payroll processes, reducing the time invested in manual estimations and compliance tracking. Routine training sessions and ongoing assistance from Papaya helped our groups become proficient users of the software, maximizing its capacity for our company.
Companies that worker workers across multiple countries frequently deal with elaborate challenges when it comes to managing their workforce. One of the biggest hurdles is consolidating various information streams and sticking to varied regional and national labor guidelines, which can be both lengthy and costly. Additionally, establishing local entities in new areas can be a costly and suboptimal option, with options such as opening a foreign subsidiary or working with a professional work company (PEO) frequently charging up to 15% of the payroll. These obstacles have caused a considerable boost in trouble recruiting certified workers, with 75% of employers reporting this concern in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
offers a service supporting all types of work. It supplies an end-to-end platform, from employee onboarding and continuous management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they run, offers management of employment advantages, and makes sure data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading professional in payroll and labor force management. She co-founded after seeing the technology gap in global.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to participate in the total webcast in order to get your credits if you have any concerns throughout the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your internet browser with the webcast survey please make sure to complete it as soon as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hello and thank you for joining us today we’re thrilled to have you here as we embark on a journey of information to regulation accomplishing
360 degree worker compliance where we’ll dive into the essential aspects of the staff member compliance management model throughout the session we’ll explore real life challenges genuine local policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to protect your company and staff members while staying certified in an
Ever developing regulatory environment in the everchanging world of business and finance ensuring compliance with payroll regulations is not only vital however likewise a legal essential from the moment of hiring to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance risks that have far-reaching repercussions nevertheless with a deeper more nuanced understanding of their responsibilities companies can not just browse the elaborate landscape however likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools required to browse the complex Terrain of compliance whether you’re an experienced P specialist a small company owner or somebody new to the field what I want to do before we begin and I believe it’s truly essential
In our quest to improve performance and accuracy in managing our global labor force, our multinational corporation turned to, a leading and labor force management software application. The shift aimed to streamline the complex task of managing across different nations, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software instantly updates itself to abide by ever-evolving tax and labor laws across several jurisdictions. This has actually been indispensable in ensuring that our processes stay certified in each nation of operation.
is to state that the material here is illegal guidance it is simply for your info please consult your legal team needs to you have any concerns or concerns in relation to anything that we have actually gone over today our secret take essential takeaways by the end of the webinar will be an understanding of worker compliance dangers how to work with ly with self-confidence how to streamline information management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
function as your hris or is type of your core employee record um to handle that staff member life process throughout their Journey with you as as a staff member in addition to a payroll module we have to help you pay those staff members and compensate them and benefits Administration module that permits you to assist handle the benefits you offer to your employees so actually excited to be here represent um bamb booy container and talk about this subject um and I think from my perspective I’ll I’ll probably provide a great deal of a concentrate on the US side of things when we discuss kind of compliance so happy to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a little bit about papay worldwide yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Employment expert supervisor.
at I manage the employment Council in the US APAC EMA and Israel region I likewise function as us Council for I’m certified in New york city and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and labor force management as a Service work force service provider to employees serving in over.
160 countries fine thank you so both I feel totally underqualified sitting here with you both well I forgot to mention as we were sort of like going through the intro so it’s truly actually nice to in fact see in the webinar chat where everybody’s really participating in from today I can see that we have individuals in Las Vegas and Indiana already so if you want to carry on tell where you are that would be absolutely great whilst we simply wait on everyone else to sort of like join in there we go Chicago as well well um so whil we’re doing that I’m waiting on everyone to kind of join I’ll just run us through the agenda um today we are going to talk about working with Talent brand-new greater Info Management termination compliance and automation wow the chat has got really actually 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 in fact going to have some actually great commentary and questions throughout the uh the webinar as well all right 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 a worker and their data is Papaya Global Online diverse without fail and an.
Ever progressing relationship that starts the moment a person signs up with a company it continues throughout their work and Beyond this journey can be divided into k to several essential phases whilst we’re in fact you know that they’re used with us so on boarding daily operations payment and advantages professional advancement then we get to the offboarding and even advocacy so it even takes place after the staff member has left your employment throughout the journey organizations are responsible for gathering saving protecting employee data in compliance with information privacy regulations no matter where it is you’re running around the world it often includes carrying out safe information management systems and ensuring strict adherence to regional requirements to protect both the worker and the company the evolution of employee information and management c.