A CFO’s Point of view on Papaya Global Security…
Papaya Global’s platform simplifies international labor force management for companies, ensuring compliance with local policies and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes global payroll operations, providing companies with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of global organization operations, handling payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a global business, I comprehend the crucial importance of efficient and certified payroll management. In our pursuit of excellence, we have embraced innovative options to improve our procedures, and one such transformative tool is Software application.
The Difficulty of International Payroll:
Global expansion causes diverse difficulties, and payroll management is no exception. Differing tax guidelines, differing work laws, and multiple currencies make it important for companies to embrace advanced options to guarantee precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Solution:
workers so it’s actually essential to guarantee that you’ve thought about from the start any post-termination limitations that you want to take into the agreement of work that they’re enforceable so that means you need to truly consider what it is you’re aiming to protect and why plainly Define what’s included within the scope of that confidential information and deal with the duration of restriction post-determination that you wish to apply and be actually able to to validate that in relation to copyright the position really depends upon the type of intellectual property you’re aiming to protect and likewise the jurisdiction so for instance from a copyright viewpoint in the Netherlands completion customer is more likely to have the um intellectual property rights in a copyright that the employees produced who’s been under their guidance and control automatically however in someplace like Poland for instance that automated right may not exist which task would require to stream through the chain uh contractually so it really depends on the jurisdiction and the kind of IP all right thank you Elizabeth Steve was staying on the topic of agreements Miss classified misclassifying employees
Papaya Global Software application has emerged as a game-changer in the realm of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually seen firsthand the positive effect of on our company’s financial operations.
Unified Global Payroll Processing:
enables our company to process payroll perfectly across several nations. The platform’s unified technique enables constant payroll estimations, lowering mistakes and making sure compliance with regional regulations. This has considerably alleviated the threats related to global payroll processing.
likewise key for if in the future someone says misclassification you have your file supported by the requisite documents which the best evaluation tools to reveal someone that you had a thoughtful process therefore what do you need to include because process it’s the who the what the where and the when who are you handling are you dealing with a private or are you handling a personal Service Corporation and how are they running what are they doing is it the kind of work that lends itself more to being an independent contractor than a staff member so for example 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 website and handled once again another essential factor is the management and guidance of the uh worker and then lastly when is it a specific task is it a six-month job 6 years all of this is workable but it has 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 have actually enhanced it this year so that we can roll it out worldwide these tools take a questionnaire list for the employee the employee fills out and fills these questions 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 assessment waiting the various questions because not every jurisdiction has the same sensation about some of these questions 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 assist you with that in regards to a few of the important things you require to strengthen to make sure that you are considered that assessment of uh independent specialist or green where you were examined as an as a independent contractor once that assessment is done all the requisite documents are underneath it so that if later on there
Navigating the complexities of worldwide work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization current with modifications in guidelines across jurisdictions. This guarantees that our payroll procedures abide by the current standards, decreasing the danger of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal companies who help us keep our databases totally approximately date and we also get in touch with we need to when we see an uncommon or or particularly intricate situations alright thanks Steve I can simply see a fast question 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 around the world and the German law for example it’s classified as staff member leasing can you shed any light on a few of the unique factors to consider for countries and where the eor model isn’t controlled yes Ian employee leasing or labor leasing as it’s also called which prevails in several countries especially in Europe enforces strict regulations on products such as the length of assignment it also assigns employees to collective bargaining arrangements that gives them rights and benefits but even in the nations that don’t have those rigorous policies for instance 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 country and all those regulations need to be complied with alright thank you Ray um Kathy moving I would state to yourself what do companies require to consider when identifying contract status to safeguard themselves and the rights of hires what are the advantages and disadvantages of employing contractors and Freelancers versus long-term staff members so clearly the the benefit of specialists versus employees is the the versatility for both the worker and for the company um however I can’t stress enough how important it is to have a consistent extensive and a well-documented compliance
Papaya Global Security and Time Cost Savings:
The software’s automation capabilities have significantly lowered the time and effort needed for payroll processing. Handbook information entry and recurring tasks have actually been decreased, enabling our finance team to focus on tactical initiatives rather than administrative concerns. This has actually resulted in increased efficiency and productivity within our monetary operations.
in one given that each state has its own guidelines Californians are a few of the most rigorous an example is pay slips on a payslip in California the best info has to be on the payslip in the ideal format and in the best position if you’re in breach of of policies 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 worry to think of and we’re just 2 questions in and 10 minutes approximately hiring in one nation is difficult enough however when working with in a you know on a worldwide level it’s a completely different story you need to make sure that you’re up to date with existing as well as pending regional labor laws Steve um how do you make sure and make sure that the people 2.0 group is on top of an ever-changing landscape which your customers are completely supported and I’ll arrange this into 3 key things we perform in primarily you require to have the right team so we hire a team of worldwide specialists in Work Practices um that ex that group of experts consists of lawyers it includes payroll specialists it consists of HR experts and these are individuals that not just understand the laws in these in these nations and regions but they also know the languages they understand the regional practices they know the cultures and it is necessary to have that right group and truly have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides thorough real-time analytics and reporting tools. As a CFO, having access to accurate and timely monetary data is important for decision-making. The platform’s reporting abilities empower me to make educated strategic decisions based upon real-time insights into our global payroll information.
The useful application and degree of the application to employment law can be evaluated through the legal system utilizing case law examples. For instance, the obtained rights directive, likewise known as the 2p regulations in the UK, and the working time regulations have gone through numerous legal analyses, particularly regarding holiday pay. Additionally, the principle of work status has seen several legal precedents over the
Scalability for Service Development:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software application seamlessly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the progressing needs of our international organization.
Global Chief legal officer we’ve 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 client services and I would say individually and collectively these 3 people have Decades of experience in in employment law and worldwide 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 delete share head of Global Provider at papaya Global inform us about yourself thank you Elin Ian hi my name is Elite I’ve been with the company for around 4 and a half years as head of Collaborations I have developed 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 transfer and operate in three various nations it is the company’s obligation to guarantee my defense while living in a foreign country compliance with local laws and guidelines is essential for me or anybody else as an expat or as a regional so today we have invited our trusted Partners individuals 2.0 to show the importance of regional
proficiency when companies Go Worldwide thank you and enjoy okay thank you as I said let’s carry on to the pact agenda today’s webinar is an opportunity to ask the panel the questions you’ve been considering we’ll go over the realities a business needs to think about when opening a new entity and expanding into new countries as well as keeping things going we’ll cover elements such as regional regulations factors to consider when working with compliance essential difficulties payments and what not to do it’s one of the most crucial things remembering what not to do um operating on a worldwide level is not for the faint-hearted the larger a company grows the more they need to comprehend and manage knowing what to do in each new circumstance as it increases is essential on numerous levels comprehending local policies and local laws in addition to company practices assists reduce Associated and worldwide growth papaya through our regional specialists can browse prospective risks such as intellectual property security information privacy security problems making sure the business’s operations stay certified and safe tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually proven to be an indispensable possession in our quest for effective and compliant global payroll management. As the CFO of a global business, I am confident in advising Papaya Global to organizations seeking to enhance their payroll procedures, boost compliance, and achieve higher effectiveness in handling their worldwide labor force. The software’s innovative features and commitment to quality line up with our tactical goals, making it an integral part of our monetary operations.
I find time and time again the workers typically misclassified unknowingly they don’t comprehend the conditions of work or contract and are informed by the client why it’s optimum primarily to the client why you need to be employed or taken part in this fashion the employee may owe taxes and Social Security to the authorities the future pension and healthcare privileges of the employee can be affected and numerous 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 contributed to pensions And so on so it’s a big effect that they never knew they were strolling into you couldn’t agree with you more if you state the UK for example hmrc can go back as much as 10 years um Kathy companies are getting insurance coverage versus misclassification but typically premiums are just covering the expense of legal fees whilst the typical claim assessed versus companies equates to to 40 or 50 percent of the base pay of worker is there any point in getting insurance coverage and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes charge and interest in many cases I have not seen it at least so uh the the other area that I do think if you managed to get the coverage what we are stating is is that if your compliance program is not up to stuff you could be denied protection on the basis of the reality that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Security …
The extensive functions of come at an expense,
Over the past few years, the labor force has undergone a considerable improvement with the introduction of remote work, which has eliminated geographical restraints on hiring. This has allowed organizations to recruit talent from all over the world, permitting them to assemble the best possible group for each role. As a result, workers have acquired higher flexibility to work from home and increase their revenues without having to transfer to expensive locations or commute fars away. According to a 2022 study, 87% of staff members who have the choice to work from another location pick to do so. The COVID-19 pandemic, combined with improvements in business connection software, has even more accelerated the shift towards remote work, even in industries that were at first reluctant to embrace the pattern.
insights are important to us and and your fellow participants so first things first though um let’s get to know 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 types of companies startup to matrixed environments across the globe I supplied management and strategy to populations of more than 100,000 staff members on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work throughout business male maning and building external relationships supporting Business clients and options and acting as an advisor I want to present our very first Greg um guest 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 said 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 really closely with our um HR department also to manage various legal and HR matters that show up so really excited 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 experts totally free to do great
While Papaya Global deals combinations with numerous HR and financing systems, the application process was not without challenges. Integrating the software with our existing facilities needed additional customization, causing some delays in the initial rollout.
Paying FAQs Papaya Global Security 2024
and some smaller subsidiaries within our company discovered the pricing to be on the greater side. As a worldwide business, balancing the requirement for innovative features with spending plan restrictions became a delicate exercise.
Client Support Action Time:
There were circumstances where our groups faced concerns that needed prompt support. However, the reaction time from’s customer assistance group was not always as fast as wanted, causing periodic hold-ups in problem resolution.
Our implementation of involved a phased technique. We started by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This enabled us to recognize and resolve combination challenges early on. As the software application ended up being more instilled in our operations, we slowly expanded its usage to cover our whole international workforce.
The automated features structured our payroll procedures, reducing the time invested in manual computations and compliance tracking. Regular training sessions and continuous support from Papaya assisted our groups end up being skilled users of the software, maximizing its capacity for our organization.
Business that staff member workers throughout multiple countries typically face elaborate obstacles when it pertains to managing their labor force. One of the greatest obstacles is consolidating numerous information streams and sticking to diverse local and national labor guidelines, which can be both lengthy and expensive. Furthermore, setting up local entities in new regions can be a costly and suboptimal choice, with options such as opening a foreign subsidiary or hiring an expert employment organization (PEO) typically charging up to 15% of the payroll. These challenges have led to a significant increase in difficulty recruiting certified personnel, with 75% of employers reporting this problem 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 forms of work. It offers an end-to-end platform, from employee onboarding and ongoing management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they run, provides 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 specialist in payroll and workforce management. She co-founded after seeing the innovation gap in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to go to the total webcast in order to receive 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 brand-new tab will open in your internet browser with the webcast survey please make certain 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 discussion hi and thank you for joining us today we’re enjoyed have you here as we start a journey of information to policy attaining
360 degree staff member compliance where we’ll dive into the necessary elements of the worker compliance management model throughout the session we’ll explore real world difficulties genuine regional policies best practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to safeguard your company and workers while staying compliant in an
Ever evolving regulative environment in the everchanging world of organization and financing making sure compliance with payroll policies is not just essential however likewise a legal crucial from the moment of working with to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance threats that have significant repercussions nevertheless with a deeper more nuanced understanding of their commitments companies can not just browse the intricate landscape however likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools essential to browse the complex Terrain of compliance whether you’re a skilled P specialist a small business owner or someone new to the field what I would like to do before we begin and I think it’s actually important
In our mission to boost performance and accuracy in managing our international labor force, our international corporation turned to, a leading and workforce management software application. The transition intended to streamline the complex task of handling throughout numerous nations, currencies, and compliance policies.
One of the standout features of is its robust compliance management system. The software application instantly updates itself to follow ever-evolving tax and labor laws across several jurisdictions. This has actually been vital in ensuring that our processes remain certified in each nation of operation.
is to state that the material here is illegal recommendations it is merely for your details please consult your legal team needs to you have any questions or issues in relation to anything that we’ve talked about today our secret take key takeaways by the end of the webinar will be an understanding of employee compliance dangers how to hire ly with self-confidence how to simplify data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
work as your hris or is kind of your core employee record um to manage that employee life process throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those workers and compensate them and advantages Administration module that allows you to assist handle the advantages you provide to your employees so actually delighted to be here represent um bamb booy container and speak about this topic um and I guess from my perspective I’ll I’ll probably provide a great deal of a focus on the United States side of things when we speak about sort of compliance so pleased to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay global 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 US APAC EMA and Israel region I likewise serve as us Council for I’m certified in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and labor force management as a Service labor force service provider to employees serving in over.
160 nations 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 introduction so it’s truly actually good to in fact see in the webinar chat where everybody’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 tell where you are that would be absolutely wonderful whilst we just await everyone else to kind of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting on everybody to type of join I’ll just run us through the agenda um today we are going to discuss hiring Skill brand-new higher Information Management termination compliance and automation wow the chat has actually got truly actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is wonderful so uh I’m hoping that we’re really going to have some actually fantastic commentary and questions throughout the uh the webinar as well alright 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 staff member and their data is Papaya Global Security diverse without fail and an.
Ever progressing relationship that begins the moment a person signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to several essential phases whilst we’re really you know that they’re utilized with us so on boarding everyday operations compensation and advantages expert development then we get to the offboarding and even advocacy so it even takes place after the worker has left your employment throughout the journey companies are accountable for collecting storing securing employee information in compliance with data privacy guidelines no matter where it is you’re operating all over the world it frequently includes implementing secure information management systems and making sure strict adherence to regional requirements to secure both the employee and the organization the development of employee information and management c.