A CFO’s Viewpoint on Papaya Global Report 2019…
Papaya Global’s platform enhances worldwide labor force management for business, guaranteeing compliance with local guidelines and tax laws. Their services encompass payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes worldwide payroll operations, offering organizations with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of global service operations, managing payroll across borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of a global business, I understand the important value of efficient and certified payroll management. In our pursuit of quality, we have embraced ingenious solutions to improve our procedures, and one such transformative tool is Software.
The Challenge of International Payroll:
International expansion brings about diverse difficulties, and payroll management is no exception. Differing tax policies, varying work laws, and numerous currencies make it imperative for companies to adopt advanced services to ensure accuracy, compliance, and efficiency in payroll processing.
Software: A Comprehensive Service:
staff members so it’s actually essential to guarantee that you’ve thought about from the beginning any post-termination constraints that you wish to take into the agreement of employment that they’re enforceable so that means you need to actually consider what it is you’re aiming to safeguard and why clearly Define what’s included within the scope of that secret information and attend to the duration of limitation post-determination that you want to apply and be really able to to justify that in relation to intellectual property the position really depends upon the kind of intellectual property you’re aiming to secure and also the jurisdiction so for instance from a copyright viewpoint in the Netherlands completion customer is more likely to have the um copyright rights in a copyright that the employees produced who’s been under their supervision and control instantly however in somewhere like Poland for instance that automated right might not be there which assignment would need to stream through the chain uh contractually so it actually depends upon the jurisdiction and the type of IP alright thank you Elizabeth Steve was remaining on the subject of agreements Miss classified misclassifying employees
Papaya Global Software application has emerged as a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually witnessed firsthand the positive effect of on our company’s monetary operations.
Unified International Payroll Processing:
enables our company to procedure payroll seamlessly across several nations. The platform’s unified approach allows for consistent payroll estimations, lowering errors and guaranteeing compliance with regional guidelines. This has substantially reduced the risks connected with international payroll processing.
likewise key for if later someone states misclassification you have your file supported by the requisite documents and that the right evaluation tools to show someone that you had a thoughtful process and so what do you need to consist of in that process it’s the who the what the where and the when who are you handling are you handling a specific or are you handling a personal Service Corporation and how are they running what are they doing is it the kind of work that provides itself more to being an independent contractor than a staff member so for example accounting
I.T engineering 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 have to be on website and handled again another crucial element is the management and supervision of the uh employee and then lastly when is it a particular job is it a six-month job six years all of this is workable but it has to be documented and it needs to be thoroughly 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 internationally these tools take a survey list for the worker the employee submits and fills these concerns out therefore does completion customer or the recipient of the services they both put their information into the tool and then it does an examination waiting the various questions because not every jurisdiction has the very same feeling about some of these concerns some think they’re more vital than others and it comes out with a red yellow or green red you’re most likely a worker yellow you’re on the cusp we can most likely help you with that in terms of some of the things you require to strengthen to make certain that you are given that assessment of uh independent professional or green where you were examined as an as a independent contractor once that examination is done all the requisite documents are underneath it so that if in the future there
Browsing the intricacies of worldwide work laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our company up-to-date with changes in policies throughout jurisdictions. This makes sure that our payroll procedures comply with the latest standards, lessening the danger of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal firms who help us keep our databases completely as much as date and we also get in touch with we require to when we see an uncommon or or particularly complex situations fine thanks Steve I can just see a fast concern in the Q a window yes the session will be tape-recorded and sent out to attendees afterwards um moving back to to the webinar itself Ray company of record is controlled in a different way around the globe and the German law for instance it’s classed as worker 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 staff member leasing or labor leasing as it’s likewise called which prevails in numerous countries specifically in Europe enforces rigorous policies on items such as the length of task it also appoints employees to collective bargaining agreements that gives them rights and advantages however even in the countries that don’t have those stringent policies for example the UK Canada and the nordics there are regulations for each nation and each worker is dealt with the same as all the other employees because nation and all those regulations require to be followed okay thank you Ray um Kathy moving I would state to yourself what do companies need to factor in when determining agreement status to protect themselves and the rights of hires what are the pros and cons of hiring specialists and Freelancers versus long-term staff members so certainly the the benefit of contractors versus employees is the the flexibility for both the worker and for the employer um but I can’t stress enough how crucial it is to have a consistent extensive and a well-documented compliance
Papaya Global Report 2019 and Time Savings:
The software application’s automation abilities have actually considerably decreased the time and effort needed for payroll processing. Handbook data entry and repeated tasks have actually been reduced, allowing our financing team to concentrate on tactical efforts instead of administrative burdens. This has led to increased efficiency and efficiency within our financial operations.
in one since each state has its own regulations Californians are some of the most strict an example is pay slips on a payslip in California the right details has to be on the payslip in the ideal format and in the right position if you’re in breach of of guidelines for payslips the fines are issued per payslip so that’s each worker each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to fret to think about and we’re only two questions in and 10 minutes or two employing in one nation is tough enough however when hiring in a you know on a global level it’s a totally various story you require to make certain that you depend on date with current in addition to pending local labor laws Steve um how do you ensure and guarantee that the people 2.0 team is on top of an ever-changing landscape and that your clients are fully supported and I’ll organize this into three key things we perform in firstly you need to have the right team so we hire a team of global specialists in Work Practices um that ex that group of professionals includes lawyers it consists of payroll experts it consists of HR experts and these are people that not just understand the laws in these in these countries and regions however they also understand the languages they know the regional practices they understand the cultures and it is essential to have that ideal group and truly have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies thorough 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 capabilities empower me to make educated strategic choices based on real-time insights into our global payroll data.
application and its scope and the manner in which it applies to employment law in practice can be evaluated through the judicial system by way of case law examples of that would be the acquired rights instruction otherwise referred to as the 2p regulations in the UK the working time policies which has had various strands of that legislation evaluated particularly around vacation pay and obviously as Kathy’s going to come on to speak about later employment status which there’s been numerous precedence set throughout the years so I believe it’s really that consistent development of the employment law landscape that you truly need to browse when when operating in Europe all right thank you Elizabeth Ray what about you from your personal experience while crossing the pond as mentioned each country has various regulations but the United States is basically 50 nations
Scalability for Service Development:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into brand-new markets, the software application effortlessly accommodates changes in our workforce and payroll requirements. This scalability guarantees that our payroll facilities can adjust to the developing requirements of our worldwide company.
Global 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 customer service and I would state individually and jointly these three individuals have Years of experience in in work law and worldwide Work Practices so thank you it’s a pleasure to be with everyone 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 Provider 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 established Papaya’s network of in-country Partners in over 160 places on an individual element and related to our subject today I’ve had the chance to move and operate in 3 various countries it is the business’s duty to ensure my security while living in a foreign country compliance with regional laws and policies is essential for me or anyone else as an expat or as a local so today we have welcomed our trusted Partners people 2.0 to demonstrate the value of local
knowledge when companies Go International thank you and take pleasure in fine thank you as I stated let’s carry on to the pact program today’s webinar is a chance to ask the panel the concerns you have actually been considering we’ll talk about the realities a company needs to consider when opening a new entity and expanding into new countries in addition to keeping things going we’ll cover aspects such as regional guidelines considerations when hiring compliance key difficulties payments and what not to do it is among the most essential things remembering what not to do um operating on a global level is not for the faint-hearted the larger a business grows the more they require to comprehend and handle understanding what to do in each brand-new situation as it increases is essential on lots of levels comprehending local policies and regional laws along with service practices assists alleviate Associated and worldwide growth papaya through our regional professionals can browse possible dangers such as copyright protection information personal privacy security problems guaranteeing the company’s operations stay certified and safe and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software has actually shown to be an important property in our quest for effective and compliant international payroll management. As the CFO of an international company, I am positive in advising Papaya Global to organizations seeking to improve their payroll procedures, enhance compliance, and accomplish greater efficiency in managing their worldwide workforce. The software application’s ingenious functions and commitment to quality align with our tactical objectives, making it an integral part of our financial operations.
I find time and time again the workers typically misclassified unknowingly they do not comprehend the conditions of employment or agreement and are told by the customer why it’s most advantageous primarily to the client why you should be employed or taken part in this style the worker may owe taxes and Social Security to the authorities the future pension and healthcare opportunities of the worker can be affected and numerous times it can be years before this all falls out and by that time it’s too late years have actually gone by they haven’t contributed to pensions And so on so it’s a big impact that they never understood 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 business are taking out insurance versus misclassification however normally premiums are only covering the expense of legal costs whilst the typical claim evaluated versus companies equates to to 40 or half of the base pay of employee exists any point in securing insurance coverage and what is the alternative yeah to your point um you do require to check out the fine print it is not covering the taxes charge and interest most of the times I haven’t seen it at least 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 denied protection on the basis of the fact that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Report 2019 …
The detailed functions of come at a cost,
Over the past few years, the workforce has undergone a substantial improvement with the emergence of remote work, which has gotten rid of geographical restraints on hiring. This has allowed companies to recruit skill from all over the world, enabling them to assemble the very best possible team for each function. As a result, staff members have acquired higher flexibility to work from home and increase their incomes without needing to move to expensive areas or commute fars away. According to a 2022 survey, 87% of workers who have the option to work remotely choose to do so. The COVID-19 pandemic, combined with advancements in business connection software, has actually further sped up the shift towards remote work, even in industries that were at first reluctant to adopt the pattern.
insights are valuable to us and and your fellow attendees so first things first though um let’s be familiar with everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had roles in all sort of Industries retail and Charm to Aerospace in all kinds of organizations startup to matrixed environments around the world I supplied leadership and technique to populations of more than 100,000 staff members on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout the business man maning and developing external relationships supporting Business customers and solutions and functioning as a consultant I wish to present our first Greg um guest Greg who will kick things off by informing us um who he is and a little 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 internal legal group and really work very closely with our um HR department too to deal with different legal and HR matters that come up so really thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our objective is to set you as HR professionals totally free to do fantastic
While Papaya Global deals integrations with numerous HR and finance systems, the implementation process was not without obstacles. Incorporating the software with our existing facilities needed additional customization, leading to some delays in the initial rollout.
Paying FAQs Papaya Global Report 2019 2024
and some smaller subsidiaries within our company discovered the rates to be on the greater side. As an international company, stabilizing the need for innovative functions with budget restrictions ended up being a delicate workout.
Consumer Support Response Time:
There were circumstances where our groups dealt with issues that required prompt support. However, the response time from’s client assistance group was not constantly as fast as desired, leading to occasional hold-ups in issue resolution.
Our application of involved a phased technique. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing processes. This enabled us to identify and resolve integration difficulties early on. As the software became more ingrained in our operations, we slowly broadened its use to cover our whole worldwide workforce.
The automated functions structured our payroll processes, lowering the time invested in manual calculations and compliance tracking. Routine training sessions and continuous assistance from Papaya helped our groups become competent users of the software application, maximizing its capacity for our organization.
Business that employee workers across several nations frequently deal with complex difficulties when it comes to managing their workforce. Among the most significant difficulties is consolidating various information streams and sticking to varied regional and nationwide labor regulations, which can be both time-consuming and costly. Moreover, establishing local entities in brand-new regions can be a costly and suboptimal option, with options such as opening a foreign subsidiary or working with a professional employment organization (PEO) frequently charging up to 15% of the payroll. These difficulties have actually led to a substantial boost in trouble hiring qualified 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.
uses a service supporting all kinds of employment. It provides an end-to-end platform, from staff member onboarding and ongoing management to global payments and. It helps business with labor law compliance in the jurisdictions in which they run, offers management of employment advantages, and makes sure information personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading expert in payroll and labor force management. She co-founded after seeing the technology gap in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to attend the complete webcast in order to get your credits if you have any questions 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 study please make certain to finish it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hi and thank you for joining us today we’re enjoyed have you here as we embark on a journey of information to policy achieving
360 degree employee compliance where we’ll dive into the important elements of the employee compliance management model throughout the session we’ll check out real life obstacles genuine local regulations finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to safeguard your company and workers while remaining certified in an
Ever developing regulatory environment in the everchanging world of company and finance ensuring compliance with payroll policies is not just essential however also a legal necessary from the minute of employing to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance dangers that have significant consequences however with a deeper more nuanced understanding of their commitments organizations can not only browse the intricate landscape however also proactively guarantee this 360 degree compliance the webinar is designed to equip you with the understanding and tools required to navigate the complex Terrain of compliance whether you’re an experienced P expert a small business owner or someone new to the field what I would like to do before we start and I think it’s actually essential
In our mission to enhance performance and precision in handling our worldwide labor force, our multinational corporation turned to, a leading and labor force management software application. The shift aimed to simplify the complex task of handling throughout various nations, currencies, and compliance regulations.
One of the standout functions of is its robust compliance management system. The software application immediately updates itself to stick to ever-evolving tax and labor laws across several jurisdictions. This has actually been important in ensuring that our processes remain certified in each country of operation.
is to state that the material here is not legal suggestions it is just for your info please consult your legal team must you have any questions or concerns in relation to anything that we have actually discussed today our key take crucial takeaways by the end of the webinar will be an understanding of staff member compliance risks how to work with ly with self-confidence how to streamline information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.
serve as your hris or is type of your core employee 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 help you pay those employees and compensate them and benefits Administration module that allows you to assist manage the benefits you provide to your workers so truly excited to be here represent um bamb booy container and speak about this topic um and I think from my point of view I’ll I’ll most likely offer a great deal of a concentrate on the US side of things when we talk about kind of compliance so pleased to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a bit about papay worldwide yes definitely thank you Ian hi everyone I’m Gina dorelis I’m the Employment expert manager.
at I handle the employment Council in the United States APAC EMA and Israel area I also serve as us Council for I’m licensed 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 workforce management as a Service labor force provider to workers serving in over.
160 countries okay thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the introduction so it’s actually actually good to actually see in the webinar chat where everybody’s actually participating in from today I can see that we have people in Las Vegas and Indiana already so if you wish to carry on inform where you are that would be absolutely fantastic whilst we simply await everybody else to type of like participate there we go Chicago also 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 hiring Skill brand-new greater Info Management termination compliance and automation wow the chat has actually got really actually 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 really going to have some truly excellent commentary and questions throughout the uh the webinar as well all right so that’s the program then what I want to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their information is Papaya Global Report 2019 complex without fail and an.
Ever progressing relationship that begins the moment a person joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous essential phases whilst we’re really you understand that they’re employed with us so on boarding day-to-day operations compensation and benefits expert development then we get to the offboarding and even advocacy so it even occurs after the worker has left your work throughout the journey organizations are responsible for collecting storing safeguarding worker data in compliance with information privacy regulations no matter where it is you’re operating around the world it typically includes executing safe and secure data management systems and ensuring rigorous adherence to local requirements to safeguard both the staff member and the organization the development of employee information and management c.