A CFO’s Point of view on Papaya Global Slips…
Papaya Global’s platform streamlines worldwide labor force management for business, making sure compliance with regional policies and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes worldwide payroll operations, providing companies with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of international organization operations, managing payroll across borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a global business, I understand the crucial importance of effective and certified payroll management. In our pursuit of quality, we have actually welcomed innovative services to enhance our procedures, and one such transformative tool is Software application.
The Obstacle of International Payroll:
International expansion produces diverse challenges, and payroll management is no exception. Differing tax guidelines, differing employment laws, and multiple currencies make it imperative for organizations to adopt advanced services to ensure precision, compliance, and performance in payroll processing.
Software application: A Comprehensive Solution:
It is crucial to think about and consist of post-termination constraints in the employment agreement to ensure enforceability. You should carefully identify what you are seeking to protect and plainly define the secret information that falls within its scope. Furthermore, specify the duration of the post-termination restriction and be prepared to validate it in relation to copyright. The guidelines concerning intellectual property vary depending upon the kind of IP and the jurisdiction. For instance, in the Netherlands, the end customer is likely to have copyright rights over works produced by employees under their guidance, while in Poland, contractual assignment may be essential.
Papaya Global Software application has actually become a game-changer in the realm of international payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly interface. As the CFO, I have actually witnessed firsthand the positive impact of on our organization’s financial operations.
Unified Global Payroll Processing:
allows our business to procedure payroll effortlessly across numerous nations. The platform’s unified technique permits constant payroll estimations, lowering mistakes and ensuring compliance with local regulations. This has actually significantly alleviated the threats connected with worldwide payroll processing.
likewise key for if later somebody says misclassification you have your file supported by the requisite documents which the right examination 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 private or are you dealing with a personal Service Corporation and how are they operating what are they doing is it the kind of work that lends itself more to being an independent specialist than a staff member so for example accounting
I.T engineering the creatives these all provide themselves more to that examination of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they need to be on site and handled again another crucial aspect is the management and supervision of the uh employee and then finally when is it a specific job is it a six-month job six years all of this is workable however 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 worldwide these tools take a survey list for the employee the employee completes and fills these questions out therefore does the end customer or the recipient of the services they both put their information into the tool and after that it does an assessment waiting the different concerns since not every jurisdiction has the exact same feeling about some of these concerns some believe they’re more vital than others and it comes out with a red yellow or green red you’re most likely an employee yellow you’re on the cusp we can most likely assist you with that in terms of some of the things you need to bolster to make sure that you are considered that examination of uh independent contractor or green where you were examined as an as a independent professional once that evaluation is done all the requisite documents are underneath it so that if in the future there
Navigating the intricacies of worldwide employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization current with changes in regulations throughout jurisdictions. This ensures that our payroll processes abide by the current standards, decreasing the risk of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal firms who assist us keep our databases entirely as much as date and we likewise contact we need to when we see an unusual or or particularly complex scenarios okay thanks Steve I can simply see a fast question in the Q a window yes the session will be tape-recorded and sent out to attendees afterwards um returning to to the webinar itself Ray employer of record is regulated differently worldwide and the German law for instance it’s classed as staff member leasing can you shed any light on a few of the unique factors to consider for nations and where the eor design isn’t controlled yes Ian employee leasing or labor leasing as it’s likewise called which prevails in numerous nations specifically in Europe enforces strict regulations on products such as the length of task it likewise appoints employees to collective bargaining agreements that provides rights and benefits however even in the nations that don’t have those stringent regulations for example the UK Canada and the nordics there are policies for each country and each employee is dealt with the like all the other workers in that country and all those regulations require to be complied with alright thank you Ray um Kathy moving I would state to yourself what do companies need to consider when determining agreement status to secure themselves and the rights of hires what are the advantages and disadvantages of working with contractors and Freelancers versus long-term staff members so clearly the the benefit of specialists versus staff members is the the flexibility for both the worker and for the employer um however I can’t stress enough how important it is to have a constant extensive and a well-documented compliance
Papaya Global Slips and Time Savings:
The software’s automation abilities have actually significantly decreased the time and effort needed for payroll processing. Manual data entry and repetitive jobs have been reduced, enabling our finance group to concentrate on strategic efforts instead of administrative problems. This has actually led to increased performance and productivity within our financial operations.
in one because each state has its own policies Californians are a few of the most stringent an example is pay slips on a payslip in California the ideal information needs to be on the payslip in the right format and in the right position if you’re in breach of of regulations for payslips the fines are provided per payslip so that’s each staff member each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to worry to think of and we’re only 2 questions in and 10 minutes or two working with in one country is challenging enough but when hiring in a you know on a global level it’s an entirely various story you require to ensure that you’re up to date with existing in addition to pending local labor laws Steve um how do you ensure and ensure that the people 2.0 group is on top of an ever-changing landscape and that your clients are fully supported and I’ll arrange this into three essential things we carry out in firstly you need to have the right group so we hire a team of global professionals in Work Practices um that ex that group of experts includes legal representatives it includes payroll experts it includes HR experts and these are individuals that not only know the laws in these in these nations and regions however they likewise understand the languages they know the regional practices they know the cultures and it is very important to have that right group and genuinely have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to precise and prompt monetary data is important 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.
application and its scope and the way that it applies to work law in practice can be checked through the judicial system by way of case law examples of that would be the acquired rights instruction otherwise known as the 2p guidelines in the UK the working time guidelines which has actually had various strands of that legislation checked especially around holiday pay and naturally as Kathy’s going to come on to talk about later on employment status which there’s been multiple precedence set for many years so I believe it’s actually that constant advancement of the employment law landscape that you actually need to browse when when operating in Europe fine thank you Elizabeth Ray what about you from your personal experience while moving across the pond as mentioned each country has various regulations however the United States is essentially 50 nations
Scalability for Service Development:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and expand into brand-new markets, the software flawlessly accommodates modifications in our labor force and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the developing requirements of our international organization.
Global Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Gander who is our senior vice president of customer service and I would state individually and collectively these 3 people have Decades of experience in in work law and global Employment 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 erase share head of Global Provider at papaya Worldwide tell us about yourself thank you Elin Ian hi my name is Elite I’ve been with the business for around 4 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 element and related to our subject today I’ve had the opportunity to transfer and operate in 3 various countries it is the company’s obligation to guarantee my protection while residing in a foreign nation compliance with regional laws and guidelines is vital for me or anyone else as an expat or as a regional so today we have invited our relied on Partners people 2.0 to demonstrate the importance of regional
know-how when business Go International thank you and take pleasure in fine thank you as I stated let’s proceed to the pact agenda today’s webinar is a chance to ask the panel the questions you have actually been thinking about we’ll discuss the realities a company requires to consider when opening a brand-new entity and expanding into new countries in addition to keeping things going we’ll cover aspects such as local guidelines considerations when employing compliance crucial 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 bigger a business grows the more they require to understand and handle understanding what to do in each new scenario as it increases is necessary on many levels understanding regional guidelines and local laws as well as company practices assists mitigate Associated and international expansion papaya through our local professionals can browse prospective dangers such as intellectual property security data personal privacy security issues ensuring the business’s operations remain compliant and safe tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually proven to be an important possession in our quest for effective and compliant global payroll management. As the CFO of an international business, I am positive in advising Papaya Global to companies seeking to improve their payroll procedures, boost compliance, and accomplish higher efficiency in managing their international workforce. The software application’s ingenious features and dedication to excellence line up with our strategic objectives, making it an essential part of our monetary operations.
openly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly announced settlements there’s also considerable legal expenses there’s there’s other charges there’s other expenses behind that as well so the total expense can be extremely significant in the 10s of countless dollars or more and and those amounts are growing uh the reason companies are getting it so wrong is truly simply the rules are complex and they’re changing all the time think ir-35 in the UK which has been an ongoing advancement for numerous years now and and still a lot of unpredictability amongst business on what it actually indicates and how you deal with it most companies are simply not aware of 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 really proactive as you’re engaging uh workers from a category viewpoint okay thank you Stephen and moving back to yourself Ray it’s not just the company that suffers in the long run what impacts can this have on the employee Papaya Global Slips particularly when it comes to their own tax liabilities social security and benefits for example jury and clearly the workers the other side of the coin
I find time and time again the employees frequently misclassified unwittingly they don’t understand the conditions of work or contract and are informed by the customer why it’s most advantageous mainly to the customer why you must be utilized or taken part in this style the worker might owe taxes and Social Security to the authorities the future pension and health care advantages of the employee can be affected 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 contributed to pensions Etc so it’s a big effect that they never understood they were walking into you could not agree with you more if you state the UK for instance hmrc can go back as much as 10 years um Kathy companies are securing insurance against misclassification but usually premiums are only covering the expense of legal fees whilst the average claim examined versus employers relates to to 40 or 50 percent of the base salary of employee is there any point in taking out insurance coverage and what is the alternative yeah to your point um you do require to read 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 coverage what we are stating 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 Factors to consider and Papaya Global Slips …
The extensive functions of come at an expense,
Over the past few decades, the workforce has undergone a substantial transformation with the development of remote work, which has actually removed geographical restraints on hiring. This has actually allowed businesses to recruit talent from all over the world, allowing 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 profits without needing to transfer to pricey areas or commute fars away. According to a 2022 survey, 87% of employees who have the choice to work remotely select to do so. The COVID-19 pandemic, integrated with developments in business connection software application, has actually even more sped up the shift towards remote work, even in industries that were initially reluctant to adopt the pattern.
insights are important to us and and your fellow attendees so first things initially though um let’s be familiar with everyone my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had functions in all kind of Industries retail and Charm to Aerospace in all types of businesses start-up to matrixed environments around the world I offered management and strategy 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 the business male maning and constructing external relationships supporting Enterprise clients and services and serving as an advisor I wish to present our first Greg um visitor Greg who will kick things off by telling us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian stated my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our internal legal group and actually work really closely with our um HR department also to deal with different legal and HR matters that turn 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 mission is to set you as HR experts free to do terrific
While Papaya Global offers combinations with various HR and financing systems, the execution procedure was not without obstacles. Incorporating the software with our existing infrastructure required additional modification, leading to some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Slips 2024
and some smaller sized subsidiaries within our organization found the prices to be on the higher side. As an international company, stabilizing the requirement for innovative functions with budget constraints ended up being a delicate exercise.
Consumer Assistance Reaction Time:
There were instances where our groups faced concerns that needed prompt support. Nevertheless, the action time from’s customer assistance team was not constantly as quick as desired, resulting in periodic hold-ups in issue resolution.
Our application of involved a phased technique. We started by onboarding a few subsidiaries to check the system’s compatibility with our existing processes. This permitted us to determine and attend to combination difficulties early on. As the software ended up being more instilled in our operations, we slowly expanded its usage to cover our entire international labor force.
The automated features structured our payroll processes, minimizing the time invested in manual computations and compliance tracking. Regular training sessions and ongoing assistance from Papaya helped our groups become skilled users of the software application, optimizing its potential for our organization.
Business that staff member workers throughout several countries often face complex obstacles when it comes to handling their workforce. One of the greatest obstacles is combining different information streams and adhering to varied local and national labor regulations, which can be both time-consuming and expensive. Moreover, setting up regional entities in new regions can be a pricey and suboptimal alternative, with options such as opening a foreign subsidiary or hiring a professional work organization (PEO) typically charging up to 15% of the payroll. These obstacles have caused a substantial increase in problem hiring certified workers, with 75% of employers reporting this concern in 2022, a 21% increase from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
provides a service supporting all types of employment. It offers an end-to-end platform, from employee onboarding and ongoing management to worldwide payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, offers management of work 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 specialist in payroll and workforce management. She co-founded after seeing the technology space in global.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make certain to participate in the total webcast in order to get your credits if you have any concerns throughout the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your internet browser with the webcast 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 hey there and thank you for joining us today we’re thrilled to have you here as we embark on a journey of data to policy attaining
360 degree worker compliance where we’ll dive into the vital aspects of the employee compliance management model throughout the session we’ll explore real world obstacles real local policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your company and staff members while remaining certified in an
Ever developing regulative environment in the everchanging world of service and finance making sure compliance with payroll policies is not just vital but likewise a legal imperative from the moment of working with to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance threats that have far-reaching consequences however with a much deeper more nuanced understanding of their commitments companies can not only navigate the intricate landscape but likewise proactively guarantee this 360 degree compliance the webinar is developed to equip you with the understanding and tools necessary to browse the complex Surface of compliance whether you’re an experienced P specialist a small business owner or somebody new to the field what I would like to do before we start and I think it’s really important
In our mission to enhance efficiency and accuracy in handling our global labor force, our multinational corporation turned to, a leading and workforce management software application. The transition aimed to streamline the complex task of handling across various nations, currencies, and compliance guidelines.
Among the standout functions of is its robust compliance management system. The software application instantly updates itself to stick to ever-evolving tax and labor laws throughout numerous jurisdictions. This has actually been invaluable in ensuring that our processes stay compliant in each nation of operation.
is to state that the content here is illegal suggestions it is just for your info please consult your legal group ought to you have any questions or concerns in relation to anything that we’ve discussed 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 streamline data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
serve as your hris or is type of your core worker record um to manage that worker life process throughout their Journey with you as as a staff member in addition to a payroll module we need to help you pay those employees and compensate them and advantages Administration module that permits you to help handle the benefits you supply to your workers so actually delighted to be here represent um bamb booy container and talk about this subject um and I think from my point of view I’ll I’ll probably provide a great deal of a focus on the US side of things when we speak about kind of compliance so pleased to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to present yourself and tell the audience a bit about papay international yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Employment expert supervisor.
at I handle the employment Council in the US APAC EMA and Israel area I likewise function as us Council for I’m accredited in New York and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and workforce management as a Service work force company to workers serving in over.
160 nations fine thank you so both I feel entirely underqualified sitting here with you both well I forgot to point out as we were type of like going through the introduction so it’s really actually good to actually see in the webinar chat where everyone’s really attending from today I can see that we have people in Las Vegas and Indiana currently so if you wish to continue tell where you are that would be absolutely wonderful whilst we simply wait for everybody else to type of like participate in there we go Chicago also well um so whil we’re doing that I’m waiting on everybody to sort of join I’ll just run us through the agenda um today we are going to discuss hiring Skill brand-new greater Details Management termination compliance and automation wow the chat has actually got really truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely everywhere which is wonderful so uh I’m hoping that we’re really going to have some actually great commentary and questions throughout the uh the webinar also fine 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 an employee and their data is Papaya Global Slips diverse without fail and an.
Ever evolving relationship that starts the minute a person joins an organization it continues throughout their work and Beyond this journey can be divided into k to several key phases whilst we’re really you know that they’re utilized with us so on boarding daily operations compensation and benefits expert advancement then we get to the offboarding and even advocacy so it even happens after the staff member has actually left your work throughout the journey companies are accountable for gathering saving securing staff member data in compliance with information personal privacy regulations no matter where it is you’re operating around the world it often involves carrying out protected information management systems and guaranteeing stringent adherence to regional requirements to secure both the staff member and the organization the advancement of staff member data and management c.