A CFO’s Viewpoint on Papaya Global Sales…
The platform enables business to manage their worldwide workforce and abide by local employment guidelines and tax laws. Papaya Global uses a range of services, including payroll management, advantages administration, compliance management, time and presence tracking, and HR management. The platform is created to streamline the complexities of global payroll and offer real-time exposure and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the vibrant landscape of international organization operations, handling payroll throughout borders can be a complex and tough job. As the Chief Financial Officer (CFO) of a global business, I understand the vital importance of effective and certified payroll management. In our pursuit of quality, we have embraced ingenious services to enhance our procedures, and one such transformative tool is Software.
The Challenge of International Payroll:
Worldwide expansion produces varied challenges, and payroll management is no exception. Differing tax guidelines, differing work laws, and several currencies make it vital for organizations to embrace advanced services to guarantee accuracy, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Option:
employees so it’s truly basic to make sure that you have actually considered from the start any post-termination restrictions that you wish to take into the agreement of employment that they’re enforceable so that means you need to truly think of what it is you’re aiming to secure and why plainly Specify what’s consisted of within the scope of that secret information and address the duration of restriction post-determination that you wish to use and be really able to to justify that in relation to intellectual property the position really depends upon the kind of copyright you’re seeking to protect and likewise the jurisdiction so for instance from a copyright viewpoint in the Netherlands the end 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 immediately nevertheless in someplace like Poland for example that automatic right may not exist which task would require to stream through the chain uh contractually so it actually depends on the jurisdiction and the kind of IP all right thank you Elizabeth Steve was remaining on the topic of contracts Miss classified misclassifying employees
Papaya Global Software has emerged as a game-changer in the world of global payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, user-friendly user interface. As the CFO, I have witnessed firsthand the positive effect of on our company’s monetary operations.
Unified Worldwide Payroll Processing:
allows our business to process payroll seamlessly across several nations. The platform’s unified method enables constant payroll computations, reducing errors and making sure compliance with regional guidelines. This has significantly alleviated the dangers connected with worldwide payroll processing.
also crucial for if in the future somebody states misclassification you have your file supported by the requisite files which the ideal assessment tools to show 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 dealing with an individual 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 contractor than an employee so for example accounting
I.T engineering the creatives these all lend themselves more to that assessment of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they have to be on site and managed once again another key aspect is the management and supervision of the uh employee and then finally when is it a particular task is it a six-month task 6 years all of this is manageable however it has to be recorded and it has to be thoroughly um investigated 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 worldwide these tools take a questionnaire list for the worker the employee completes and fills these concerns out and so does completion customer or the recipient of the services they both put their info into the tool and after that it does an evaluation waiting the different questions due to the fact that not every jurisdiction has the exact same feeling about some of these concerns some think they’re more crucial than others and it comes out with a red yellow or green red you’re probably a staff member yellow you’re on the cusp we can most likely assist you with that in regards to a few 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 specialist once that examination is done all the requisite documents are underneath it so that if later on there
Navigating the intricacies of international work laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our organization updated with modifications in guidelines across jurisdictions. This guarantees that our payroll procedures adhere to the most recent requirements, reducing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting companies and legal companies who help us keep our databases entirely up to date and we likewise get in touch with we need to when we see an unusual or or particularly intricate situations all right thanks Steve I can just see a quick concern in the Q a window yes the session will be recorded and sent to participants later on um returning to to the webinar itself Ray company of record is managed in a different way all over the world and the German law for instance it’s classed as employee leasing can you shed any light on some of the special factors to consider for countries and where the eor model isn’t managed yes Ian staff member leasing or labor leasing as it’s also called which prevails in several countries especially in Europe imposes rigorous policies on items such as the length of assignment it likewise assigns workers to collective bargaining contracts that gives them rights and advantages but even in the countries that don’t have those rigorous policies for instance the UK Canada and the nordics there are regulations for each nation and each employee is dealt with the like all the other employees because nation and all those regulations need to be abided by all right thank you Ray um Kathy moving I would state to yourself what do business need to consider when identifying agreement status to safeguard themselves and the rights of hires what are the advantages and disadvantages of hiring contractors and Freelancers versus permanent staff members so clearly the the advantage of specialists versus workers is the the versatility for both the worker and for the company um but I can’t worry enough how crucial it is to have a constant comprehensive and a well-documented compliance
Papaya Global Sales and Time Savings:
The software application’s automation capabilities have actually significantly lowered the time and effort required for payroll processing. Handbook data entry and recurring jobs have actually been reduced, allowing our finance group to concentrate on strategic efforts rather than administrative concerns. This has actually resulted in increased performance and efficiency 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 ideal details has to be on the payslip in the ideal format and in the right position if you remain in breach of of policies for payslips the fines are issued per payslip so that’s each worker each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to fret to think of and we’re only two concerns in and 10 minutes approximately employing in one country is challenging enough but when hiring in a you understand on a global level it’s a completely various story you need to make certain that you’re up to date with present in addition to pending local labor laws Steve um how do you make certain and guarantee that individuals 2.0 group is on top of an ever-changing landscape and that your clients are completely supported and I’ll arrange this into three key things we do in primarily you need to have the ideal group so we employ a team of global specialists in Work Practices um that ex that team of experts consists of attorneys it consists of payroll specialists it includes HR specialists and these are individuals that not just understand the laws in these in these nations and areas but they likewise understand the languages they understand the local practices they know the cultures and it is very important to have that right team and genuinely have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides extensive real-time analytics and reporting tools. As a CFO, having access to precise and timely financial data is vital for decision-making. The platform’s reporting abilities empower me to make informed tactical decisions based upon real-time insights into our international payroll information.
application and its scope and the way that it applies to employment law in practice can be tested through the judicial system by way of case law examples of that would be the gotten rights instruction otherwise called the 2p regulations in the UK the working time policies which has actually had numerous hairs of that legislation tested especially around holiday pay and obviously as Kathy’s going to come on to discuss later on employment status which there’s been several precedence set throughout the years so I believe it’s really that constant evolution of the work law landscape that you truly need to browse when when operating in Europe okay thank you Elizabeth Ray what about you from your personal experience while moving across the pond as discussed each country has various guidelines however the United States is essentially 50 nations
Scalability for Organization Development:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and expand into brand-new markets, the software flawlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the developing needs of our global company.
Global Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Look who is our senior vice president of customer service and I would say individually and jointly these 3 people have Years of experience in in employment law and international Work Practices so thank you it’s a satisfaction 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 one of our own Stars erase share head of Global Solutions at papaya Worldwide tell us about yourself thank you Elin Ian hello my name is Elite I’ve been with the company for around four and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 locations on a personal aspect and related to our subject today I’ve had the chance to relocate and operate in three different countries it is the company’s responsibility to ensure my protection while residing in a foreign nation compliance with regional laws and policies is essential for me or anybody else as an expat or as a regional so today we have invited our trusted Partners people 2.0 to demonstrate the value of local
proficiency when companies Go Worldwide thank you and delight in okay thank you as I said let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the concerns you’ve been thinking of we’ll discuss the facts a company requires to think about when opening a new entity and broadening into new nations in addition to keeping things going we’ll cover aspects such as local guidelines factors to consider when hiring compliance key difficulties payments and what not to do it is among the most important 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 understand and manage knowing what to do in each brand-new scenario as it increases is essential on many levels comprehending regional guidelines and local laws as well as business practices assists reduce Associated and global expansion papaya through our regional experts can browse potential dangers such as intellectual property security data personal privacy security issues making sure the company’s operations remain compliant and safe and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has shown to be an important possession in our quest for efficient and certified global payroll management. As the CFO of a global business, I am confident in suggesting Papaya Global to organizations looking for to streamline their payroll processes, improve compliance, and achieve higher efficiency in managing their global workforce. The software application’s ingenious functions and dedication to quality align with our tactical objectives, making it an important part of our financial operations.
I discover time and time again the workers typically misclassified unwittingly they do not comprehend the conditions of employment or contract and are told by the client why it’s optimum mainly to the customer why you should be employed or participated in this style the employee might owe taxes and Social Security to the authorities the future pension and health care 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 gone by they have not added to pensions And so on so it’s a big impact that they never ever knew they were walking into you could not agree with you more if you state the UK for example hmrc can return as much as ten years um Kathy companies are taking out insurance against misclassification but generally premiums are just covering the cost of legal costs whilst the typical claim assessed against employers equates to to 40 or 50 percent of the base salary of employee is there any point in taking out insurance 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 for the most part 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 Sales …
The comprehensive features of come at a cost,
Over the past few years, the workforce has actually gone through a considerable improvement with the emergence of remote work, which has removed geographical constraints on hiring. This has allowed services to hire talent from all over the world, enabling them to put together the best possible team for each function. As a result, employees have actually gotten higher versatility to work from home and increase their revenues without needing to move to expensive areas or commute cross countries. According to a 2022 study, 87% of employees who have the option to work remotely choose to do so. The COVID-19 pandemic, combined with improvements in business connectivity software, has further sped up the shift towards remote work, even in industries that were initially hesitant 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’ve operated in payroll for the last 25 years I have actually had roles in all kind of Industries retail and Charm to Aerospace in all kinds of businesses startup to matrixed environments around the world I provided management 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
International I work across the business man maning and building external relationships supporting Enterprise customers and options and functioning as a consultant I wish to introduce our very first Greg um visitor Greg who will kick things off by telling 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 actually work very carefully with our um HR department also to handle numerous legal and HR matters that come up so actually 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 fantastic
While Papaya Global deals combinations with numerous HR and finance systems, the application process was not without challenges. Incorporating the software with our existing infrastructure needed additional personalization, leading to some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Sales 2024
and some smaller subsidiaries within our company discovered the pricing to be on the higher side. As a global company, stabilizing the need for innovative features with budget restrictions ended up being a fragile workout.
Customer Assistance Reaction Time:
There were circumstances where our teams dealt with problems that required prompt help. However, the reaction time from’s consumer support team was not always as fast as preferred, leading to occasional delays in concern resolution.
Our application of involved a phased technique. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This allowed us to identify and address combination difficulties early on. As the software application became more instilled in our operations, we slowly expanded its use to cover our whole worldwide labor force.
The automated functions streamlined our payroll processes, lowering the time invested in manual estimations and compliance tracking. Regular training sessions and continuous support from Papaya helped our groups become proficient users of the software application, maximizing its potential for our company.
However, paying a workforce can be complicated. It is particularly challenging for companies who use staff throughout multiple nations, as they must constantly consolidate different information streams, by hand track regional and nationwide labor and regulations, and spend important time and resources to establish local entities in new areas. These companies are faced with suboptimal, pricey choices, like opening a foreign subsidiary or employing a professional employment company, which is a local firm that hires workers on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty hiring certified 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 an option supporting all types of work. It supplies an end-to-end platform, from worker onboarding and continuous management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, uses management of employment benefits, and makes sure information 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 labor force management. She co-founded after seeing the innovation space in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to attend the total webcast in order to get your credits if you have any concerns during the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your internet browser with the webcast survey please be sure to complete it as quickly as the webcast has 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 enjoyed have you here as we embark on a journey of information to regulation accomplishing
360 degree employee compliance where we’ll dive into the necessary elements of the employee compliance management model throughout the session we’ll explore real world difficulties real regional guidelines best practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to secure your organization and employees while remaining compliant in an
Ever evolving regulative environment in the everchanging world of organization and finance guaranteeing compliance with payroll policies is not just essential but also a legal necessary from the moment of employing to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance dangers that have significant repercussions however with a deeper more nuanced understanding of their responsibilities organizations can not just navigate the complex landscape however likewise proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools required to browse the complex Terrain of compliance whether you’re a skilled P professional a small company owner or someone brand-new to the field what I want to do before we begin and I believe it’s truly essential
In our quest to boost performance and precision in handling our global labor force, our international corporation turned to, a leading and workforce management software. The shift aimed to streamline the complex task of managing throughout numerous countries, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software immediately updates itself to follow ever-evolving tax and labor laws across several jurisdictions. This has actually been invaluable in guaranteeing that our processes remain compliant in each country of operation.
is to state that the content here is not legal recommendations it is just for your information please consult your legal group needs to you have any concerns or concerns in relation to anything that we have actually discussed today our secret take key takeaways by the end of the webinar will be an understanding of employee compliance dangers how to employ ly with self-confidence how to simplify data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
work as your hris or is type of your core worker record um to handle that staff member life cycle throughout their Journey with you as as a staff member in addition to a payroll module we have to assist you pay those employees and compensate them and benefits Administration module that permits you to help manage the advantages you supply to your employees so really excited to be here represent um bamb booy jar and speak about this topic um and I guess from my viewpoint I’ll I’ll probably provide a lot of a concentrate on the US side of things when we speak about kind of compliance so happy to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and tell the audience a bit about papay worldwide yes definitely thank you Ian hi everyone I’m Gina dorelis I’m the Work professional supervisor.
at I handle the employment Council in the US APAC EMA and Israel area I likewise function as us Council for I’m certified in New York and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and workforce management as a Service labor force service provider to workers serving in over.
160 nations fine thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were kind of like going through the intro so it’s really actually good to in fact see in the webinar chat where everyone’s really participating in from today I can see that we have people in Las Vegas and Indiana currently so if you want to continue inform where you are that would be absolutely great whilst we simply wait on everybody else to kind of like participate in there we go Chicago too well um so whil we’re doing that I’m awaiting everybody to kind of join I’ll simply run us through the agenda um today we are going to discuss working with Talent brand-new greater Information Management termination compliance and automation wow the chat has actually got actually really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is wonderful so uh I’m hoping that we’re actually going to have some really terrific commentary and questions throughout the uh the webinar as well alright 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 an employee and their information is Papaya Global Sales complex without fail and an.
Ever progressing relationship that begins the moment an individual joins an organization it continues throughout their employment and Beyond this journey can be divided into k to several key stages whilst we’re really you understand that they’re used with us so on boarding everyday operations settlement and advantages expert development then we get to the offboarding and even advocacy so it even occurs after the staff member has actually left your employment throughout the journey organizations are accountable for gathering saving safeguarding worker data in compliance with data privacy guidelines no matter where it is you’re operating around the globe it typically involves carrying out safe and secure information management systems and making sure rigorous adherence to regional requirements to secure both the employee and the company the development of employee data and management c.