A CFO’s Perspective on Papaya Global Pan Card…
The platform enables companies to handle their global workforce and abide by regional employment regulations and tax laws. Papaya Global uses a range of services, consisting of payroll management, benefits administration, compliance management, time and presence tracking, and HR management. The platform is created to simplify the intricacies of global payroll and provide real-time presence 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 dynamic landscape of global organization operations, managing payroll throughout borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a worldwide company, I understand the crucial significance of effective and certified payroll management. In our pursuit of excellence, we have welcomed innovative services to improve our processes, and one such transformative tool is Software application.
The Obstacle of Global Payroll:
Worldwide growth produces varied challenges, and payroll management is no exception. Differing tax policies, varying employment laws, and multiple currencies make it essential for companies to embrace advanced services to ensure precision, compliance, and performance in payroll processing.
Software application: A Comprehensive Solution:
It is essential to consider and include post-termination restrictions in the employment agreement to guarantee enforceability. You must thoroughly determine what you are looking for to secure and clearly define the secret information that falls within its scope. In addition, specify the period of the post-termination limitation and be prepared to justify it in relation to copyright. The guidelines relating to intellectual property vary depending on the kind of IP and the jurisdiction. For instance, in the Netherlands, completion client is likely to have copyright rights over works produced by workers under their guidance, while in Poland, contractual project might be essential.
Papaya Global Software has become a game-changer in the realm of worldwide payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, user-friendly interface. As the CFO, I have actually seen firsthand the positive effect of on our company’s financial operations.
Unified Worldwide Payroll Processing:
enables our business to process payroll seamlessly throughout multiple countries. The platform’s unified approach enables consistent payroll estimations, reducing mistakes and guaranteeing compliance with regional regulations. This has actually considerably mitigated the dangers associated with worldwide payroll processing.
likewise crucial for if in the future somebody states misclassification you have your file supported by the requisite documents and that the best assessment tools to reveal somebody that you had a thoughtful procedure and so what do you have to include in that procedure it’s the who the what the where and the when who are you dealing with are you handling a specific or are you dealing with a personal Service Corporation and how are they running what are they doing is it the type of work that provides itself more to being an independent professional than a staff member so for instance accounting
I.T crafting the creatives these all lend themselves more to that examination of being freelancer you know also uh where are they doing it can they work from anywhere or do they need to be on site and managed again another crucial element is the management and supervision of the uh worker and then finally when is it a particular job is it a six-month project six years all of this is workable however it needs to be documented and it needs to be completely um examined so we have a tool we call it ic2 we had an ic1 and we’ve enhanced 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 therefore 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 since not every jurisdiction has the same feeling about some of these questions some believe they’re more important than others and it brings out a red yellow or green red you’re probably a worker yellow you’re on the cusp we can most likely help you with that in terms of a few of the things you need to boost to make certain that you are given 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 files are beneath it so that if in the future there
Browsing the intricacies of global work laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our company current with modifications in guidelines throughout jurisdictions. This ensures that our payroll processes stick to the current standards, lessening the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal firms who assist us keep our databases totally as much as date and we likewise get in touch with we need to when we see an uncommon or or especially complicated circumstances okay thanks Steve I can just see a fast concern in the Q a window yes the session will be recorded and sent to participants later on um moving back to to the webinar itself Ray employer of record is controlled in a different way around the globe and the German law for instance it’s classified as worker leasing can you shed any light on a few of the unique factors to consider for countries and where the eor design isn’t managed yes Ian employee leasing or labor leasing as it’s likewise called which prevails in numerous nations particularly in Europe enforces rigorous regulations on items such as the length of task it likewise designates employees to collective bargaining agreements that provides rights and advantages but even in the nations that do not have those stringent regulations for example the UK Canada and the nordics there are guidelines for each nation and each employee is dealt with the like all the other employees because nation and all those policies require to be abided by all right thank you Ray um Kathy moving I would say to yourself what do business need to consider when figuring out agreement status to secure themselves and the rights of hires what are the advantages and disadvantages of employing specialists and Freelancers versus long-term employees so certainly the the advantage of specialists versus employees is the the versatility for both the worker and for the company um but I can’t worry enough how important it is to have a consistent comprehensive and a well-documented compliance
Papaya Global Pan Card and Time Savings:
The software application’s automation capabilities have actually significantly reduced the time and effort needed for payroll processing. Manual information entry and repeated tasks have actually been lessened, permitting our financing group to concentrate on tactical efforts instead of administrative problems. This has actually resulted in increased effectiveness and productivity within our financial operations.
in one because each state has its own regulations Californians are a few of the most strict an example is pay slips on a payslip in California the ideal details has to be on the payslip in the right format and in the best position if you’re in breach of of guidelines for payslips the fines are provided per payslip so that’s each worker each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to worry to think of and we’re just two concerns in and 10 minutes approximately employing in one country is hard enough however when working with in a you know on a global level it’s an entirely different story you need to make sure that you’re up to date with present along with pending local labor laws Steve um how do you ensure and guarantee that the people 2.0 group is on top of an ever-changing landscape and that your clients are completely supported and I’ll arrange this into 3 key things we perform in most importantly you require to have the ideal team so we work with a team of worldwide experts in Work Practices um that ex that group of professionals includes attorneys it consists of payroll experts it consists of HR specialists and these are people that not only understand the laws in these in these nations and regions but they also understand the languages they know the local practices they know the cultures and it’s 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 prompt financial information is crucial for decision-making. The platform’s reporting abilities empower me to make informed strategic decisions based upon real-time insights into our global payroll data.
The practical application and extent of the application to work law can be assessed through the legal system using case law examples. For instance, the obtained rights directive, also referred to as the 2p regulations in the UK, and the working time policies have gone through various legal analyses, particularly concerning vacation pay. Furthermore, the concept of work status has actually seen multiple legal precedents over the
Scalability for Service Development:
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 effortlessly accommodates modifications in our labor force and payroll requirements. This scalability guarantees that our payroll facilities can adjust to the developing needs of our worldwide organization.
Global 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 individually and collectively these three individuals have Decades of experience in in employment law and global Employment Practices so thank you it’s a satisfaction to be with everybody here today sounds like we have actually got the right people with us today and in in addition to to those well we also 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’ve been with the business for around four and a half years as head of Collaborations I have actually developed 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 opportunity to move and operate in three various nations it is the company’s obligation to guarantee my defense while residing in a foreign nation compliance with local laws and policies is crucial for me or anybody else as an expat or as a regional so today we have actually welcomed our trusted Partners people 2.0 to show the value of local
expertise when business Go International thank you and take pleasure in fine thank you as I stated let’s carry on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you have actually been considering we’ll talk about the facts a company requires to think about when opening a brand-new entity and broadening into new countries as well as keeping things going we’ll cover elements such as regional regulations considerations when employing compliance crucial obstacles payments and what not to do it is among the most important things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a company grows the more they need to comprehend and handle understanding what to do in each new scenario as it rises is essential on numerous levels comprehending local guidelines and regional laws as well as company practices assists alleviate Associated and worldwide growth papaya through our regional professionals can navigate possible threats such as copyright security information personal privacy security concerns ensuring the company’s operations stay compliant and safe tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has shown to be an important possession in our mission for efficient and compliant international payroll management. As the CFO of an international company, I am positive in recommending Papaya Global to companies seeking to simplify their payroll procedures, boost compliance, and achieve greater efficiency in handling their international workforce. The software’s ingenious functions and dedication to quality line up with our strategic objectives, making it an essential part of our monetary operations.
openly announced and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly announced settlements there’s also substantial legal expenses there exists’s other charges there’s other expenses behind that too so the total expense can be very substantial in the tens of millions of dollars or more and and those quantities are growing uh the reason business are getting it so incorrect is really simply the guidelines are complicated and they’re changing all the time believe ir-35 in the UK which has actually been a continuous advancement for a number of years now and and still a lot of uncertainty among business on what it really suggests and how you handle it most employers are merely not familiar with the guidelines and and act as if the the rules are the same all over which they’re not so so motivate you to to be extremely proactive as you’re engaging uh workers from a category point of view fine thank you Stephen and returning to yourself Ray it’s not only the company that suffers in the long run what results can this have on the worker Papaya Global Pan Card especially when it pertains to their own tax liabilities social security and benefits for instance jury and obviously the workers the opposite of the coin
I find time and time again the workers frequently misclassified unwittingly they do not comprehend the conditions of work or contract and are told by the customer why it’s optimum generally to the client why you ought to be used or engaged in this style the employee might owe taxes and Social Security to the authorities the future pension and healthcare opportunities 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 far too late years have gone by they have not added to pensions Etc so it’s a big impact that they never ever knew they were strolling into you couldn’t agree with you more if you say the UK for instance hmrc can return as much as ten years um Kathy companies are getting insurance versus misclassification however normally premiums are only covering the cost of legal costs whilst the typical claim examined versus employers equates to to 40 or half of the base salary of employee is there any point in getting insurance coverage and what is the alternative yeah to your point um you do require to read the small print it is not covering the taxes penalty and interest in most 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 protection what we are stating 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
Expense Factors to consider and Papaya Global Pan Card …
The comprehensive functions of come at a cost,
Over the past couple of decades, the labor force has actually gone through a considerable change with the development of remote work, which has eliminated geographical restraints on hiring. This has allowed companies to recruit talent from all over the world, enabling them to assemble the very best possible group for each role. As a result, employees have actually gained higher flexibility to work from home and increase their earnings without needing to move to expensive locations or commute long distances. According to a 2022 survey, 87% of workers who have the choice to work remotely pick to do so. The COVID-19 pandemic, combined with advancements in business connectivity software, has further accelerated the shift towards remote work, even in industries that were at first reluctant to adopt the trend.
insights are valuable to us and and your fellow participants so first things initially though um let’s get to know everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had functions in all sort of Industries retail and Beauty to Aerospace in all types of services start-up to matrixed environments across the globe I offered leadership and technique to populations of more than 100,000 employees on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across business man maning and constructing external relationships supporting Business customers and solutions and functioning as a consultant I ‘d like to introduce 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 stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal team and really work very carefully with our um HR department also to manage various legal and HR matters that come up so actually excited to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our mission is to set you as HR specialists free to do fantastic
Although Papaya Global offers combinations with numerous HR and finance systems, we experienced some difficulties during the combination process. Personalizing the software to align with our existing infrastructure showed to be more intricate than expected, leading to hold-ups in the initial rollout.
The extensive features used by Papaya Global come at an expense, which some of our smaller sized subsidiaries discovered to be prohibitively costly. As a global organization, we had to carefully weigh the requirement for advanced performance versus budget plan constraints.
Assistance Response Time:
On occasion, our groups experienced issues that needed immediate assistance. However, the response time from Papaya Global’s customer support team was not constantly as timely as we would have liked, resulting in hold-ups in dealing with those concerns.
Our application of involved a phased method. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This permitted us to identify and deal with combination obstacles early on. As the software application ended up being more ingrained in our operations, we gradually expanded its use to cover our whole worldwide labor force.
The automated functions structured our payroll processes, decreasing the time invested in manual computations and compliance tracking. Routine training sessions and ongoing support from Papaya assisted our teams end up being skilled users of the software application, maximizing its potential for our organization.
However, paying a labor force can be complex. It is especially challenging for companies who employ staff across multiple countries, as they should continuously consolidate various data streams, manually track regional and national labor and guidelines, and spend valuable time and resources to establish regional entities in brand-new locations. These business are faced with suboptimal, pricey alternatives, like opening a foreign subsidiary or employing an expert employment company, which is a regional firm that employs staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported trouble hiring qualified workers, a boost of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
provides a solution supporting all forms of work. It provides an end-to-end platform, from staff member onboarding and continuous management to global payments and. It helps business with labor law compliance in the jurisdictions in which they operate, uses management of employment benefits, and guarantees data privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading professional in payroll and workforce management. She co-founded after seeing the technology gap in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to participate in the complete webcast in order to get your credits if you have any questions 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 sure to finish it as soon as the webcast has 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 information to guideline achieving
360 degree worker compliance where we’ll dive into the essential aspects of the employee compliance management model throughout the session we’ll check out real life obstacles genuine local guidelines 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 employees while remaining certified in an
Ever progressing regulatory environment in the everchanging world of business and financing making sure compliance with payroll regulations is not just crucial but likewise a legal imperative from the minute of working with to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance risks that have far-reaching repercussions nevertheless with a deeper more nuanced understanding of their responsibilities companies can not only navigate the complex landscape but likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools necessary to navigate the complex Terrain of compliance whether you’re a skilled P professional a small business owner or someone brand-new to the field what I would like to do before we start and I think it’s actually essential
In our mission to boost performance and accuracy in managing our global labor force, our international corporation turned to, a leading and labor force management software. The transition aimed to simplify the complex job of managing throughout different nations, currencies, and compliance policies.
One of the standout functions of is its robust compliance management system. The software application automatically updates itself to abide by ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been vital in making sure that our procedures remain compliant in each nation of operation.
is to state that the material here is illegal advice it is just for your information please consult your legal team ought to you have any concerns or issues in relation to anything that we’ve gone over today our secret take crucial takeaways by the end of the webinar will be an understanding of worker compliance threats how to employ ly with self-confidence how to streamline data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we have actually.
work as your hris or is kind of your core worker record um to handle that worker life process throughout their Journey with you as as a worker in addition to a payroll module we have to help you pay those workers and compensate them and advantages Administration module that permits you to assist manage the advantages you offer to your workers so truly thrilled to be here represent um bamb booy jar and speak about this subject um and I guess from my viewpoint I’ll I’ll probably offer a great deal of a focus on the US side of things when we talk about kind of compliance so delighted to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay global yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Employment professional supervisor.
at I manage the employment Council in the US APAC EMA and Israel region I also function as us Council for I’m licensed in New York and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and workforce management as a Service work force company 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 point out as we were sort of like going through the intro so it’s actually truly good to really see in the webinar chat where everyone’s actually going to from today I can see that we have people in Las Vegas and Indiana currently so if you want to continue tell where you are that would be absolutely fantastic whilst we just wait for everyone else to kind of like participate in there we go Chicago too 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 discuss hiring Skill brand-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 originating from absolutely all over which is fantastic so uh I’m hoping that we’re actually going to have some actually fantastic commentary and concerns throughout the uh the webinar as well all right so that’s the program then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their information is Papaya Global Pan Card complex without fail and an.
Ever developing relationship that starts the minute an individual signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to numerous essential phases whilst we’re really you know that they’re used with us so on boarding everyday operations settlement and benefits expert development then we get to the offboarding and even advocacy so it even happens after the worker has actually left your employment throughout the journey companies are responsible for gathering saving securing staff member data in compliance with data privacy policies no matter where it is you’re operating around the globe it often includes carrying out safe information management systems and guaranteeing strict adherence to local requirements to protect both the employee and the company the evolution of employee information and management c.