A CFO’s Viewpoint on Papaya Global Slovenia…
The platform allows business to manage their worldwide labor force and comply with local employment guidelines and tax laws. Papaya Global provides a range of services, consisting of payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is designed to streamline the complexities of global payroll and offer real-time presence and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New York, London, and Kiev.
In the vibrant landscape of global company operations, managing payroll across borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of a global company, I comprehend the vital importance of efficient and compliant payroll management. In our pursuit of quality, we have accepted innovative options to streamline our processes, and one such transformative tool is Software.
The Obstacle of International Payroll:
Worldwide expansion produces varied challenges, and payroll management is no exception. Differing tax policies, varying employment laws, and several currencies make it crucial for organizations to adopt advanced services to ensure accuracy, compliance, and performance in payroll processing.
Software: A Comprehensive Solution:
It is essential to think about and consist of post-termination constraints in the employment agreement to ensure enforceability. You should thoroughly identify what you are seeking to safeguard and clearly specify the secret information that falls within its scope. In addition, specify the duration of the post-termination restriction and be prepared to justify it in relation to intellectual property. The rules relating to intellectual property vary depending on the kind of IP and the jurisdiction. For example, in the Netherlands, the end customer is most likely to have copyright rights over works produced by workers under their guidance, while in Poland, legal task may be required.
Papaya Global Software has actually 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, user-friendly interface. As the CFO, I have actually seen firsthand the favorable effect of on our organization’s monetary operations.
Unified International Payroll Processing:
allows our company to process payroll effortlessly throughout numerous countries. The platform’s unified approach permits consistent payroll calculations, decreasing mistakes and guaranteeing compliance with regional guidelines. This has significantly reduced the risks associated with worldwide payroll processing.
likewise essential for if later somebody states misclassification you have your file supported by the requisite files and that the ideal evaluation tools to show somebody that you had a thoughtful process therefore 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 a specific 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 provides itself more to being an independent professional than a worker so for example accounting
I.T engineering the creatives these all provide themselves more to that evaluation of being freelancer you understand also uh where are they doing it can they work from anywhere or do they have to be on website and handled once again another key element is the management and guidance of the uh employee and then lastly when is it a specific task is it a six-month task six years all of this is workable but it needs to be recorded and it needs to be thoroughly um examined 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 worker submits and fills these concerns out therefore does the end client or the recipient of the services they both put their info into the tool and after that it does an assessment waiting the various questions due to the fact that not every jurisdiction has the exact same sensation about a few of these questions some believe they’re more important than others and it brings out 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 terms of some of the important things you require to bolster to make sure that you are given that assessment of uh independent specialist or green where you were examined as an as a independent contractor once that evaluation is done all the requisite documents are beneath it so that if later there
Browsing the intricacies of worldwide employment laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our company up-to-date with modifications in regulations across jurisdictions. This makes sure that our payroll processes comply with the current standards, reducing the risk of non-compliance and associated penalties.
network of In-House outside advisors accounting companies and legal firms who help us keep our databases totally approximately date and we likewise call on we need to when we see an unusual or or particularly intricate scenarios okay thanks Steve I can just see a fast question in the Q a window yes the session will be recorded and sent to participants afterwards um moving back to to the webinar itself Ray employer of record is managed in a different way around the world and the German law for instance it’s classed as staff member leasing can you shed any light on some of the special considerations for countries and where the eor design isn’t regulated yes Ian employee leasing or labor leasing as it’s likewise called which prevails in a number of countries particularly in Europe imposes rigorous guidelines on products such as the length of assignment it likewise appoints workers to collective bargaining arrangements that gives them rights and benefits however even in the countries that do not have those strict guidelines for instance the UK Canada and the nordics there are guidelines for each country and each employee is dealt with the same as all the other workers in that nation and all those policies need to be followed okay thank you Ray um Kathy moving I would state to yourself what do companies require to consider when figuring out agreement status to secure themselves and the rights of hires what are the benefits and drawbacks of working with professionals and Freelancers versus irreversible employees so certainly the the advantage of contractors versus workers is the the versatility for both the employee 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 Slovenia and Time Cost Savings:
The software’s automation abilities have actually significantly reduced the time and effort needed for payroll processing. Handbook data entry and recurring jobs have actually been reduced, enabling our financing team to focus on strategic efforts instead of administrative burdens. This has actually resulted in increased performance and performance within our monetary operations.
in one because each state has its own guidelines Californians are some of the most strict an example is pay slips on a payslip in California the best details has to be on the payslip in the ideal 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 about and we’re just two questions in and 10 minutes or so working with in one nation is difficult enough but when working with in a you know on a global level it’s an entirely various story you need to make certain that you depend on date with existing in addition to pending regional labor laws Steve um how do you make sure and guarantee that the people 2.0 group is on top of an ever-changing landscape and that your customers are fully supported and I’ll arrange this into 3 crucial things we perform in most importantly you require to have the best team so we hire a group of global professionals in Work Practices um that ex that team of professionals consists of lawyers it includes payroll professionals it consists of HR experts and these are individuals that not only understand the laws in these in these countries and areas but they likewise know the languages they understand the regional practices they understand the cultures and it’s important to have that best group and truly have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers comprehensive 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 capabilities empower me to make informed strategic choices based upon real-time insights into our global payroll data.
application and its scope and the way that it applies to employment law in practice can be checked 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 different strands of that legislation checked especially around holiday pay and of course as Kathy’s going to come on to speak about later on employment status which there’s been multiple precedence set throughout the years so I think it’s truly that continuous advancement of the work law landscape that you really need to browse when when working in Europe all right thank you Elizabeth Ray what about you from your individual experience while moving across the pond as pointed out each nation has various guidelines however the United States is essentially 50 nations
Scalability for Company Development:
Among the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into brand-new markets, the software application seamlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the progressing needs of our worldwide organization.
International Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Look who is our senior vice president of customer service and I would state separately and jointly these 3 individuals have Decades of experience in in work law and global Work Practices so thank you it’s an enjoyment 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 Solutions at papaya Global tell us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the business for around 4 and a half years as head of Partnerships I have established Papaya’s network of in-country Partners in over 160 areas on an individual element and related to our subject today I’ve had the opportunity to transfer and operate in 3 various countries it is the business’s obligation to ensure my protection while residing in a foreign nation compliance with regional laws and regulations is vital for me or anyone else as an expat or as a regional so today we have welcomed our relied on Partners people 2.0 to show the significance of regional
know-how when business Go Worldwide thank you and delight in alright thank you as I said let’s carry on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you’ve been thinking about we’ll talk about the realities a business needs to consider when opening a new entity and broadening into brand-new countries along with keeping things going we’ll cover aspects such as regional policies considerations when employing compliance key difficulties payments and what not to do it is among the most crucial things remembering what not to do um operating on an international level is not for the faint-hearted the bigger a company grows the more they require to understand and manage knowing what to do in each new scenario as it rises is very important on many levels comprehending local policies and regional laws as well as business practices helps mitigate Associated and international growth papaya through our local specialists can browse possible dangers such as copyright defense data privacy security problems making sure the business’s operations remain compliant and safe tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software application has proven to be an important possession in our mission for effective and compliant international payroll management. As the CFO of an international business, I am positive in advising Papaya Global to companies seeking to streamline their payroll processes, enhance compliance, and attain greater performance in managing their international workforce. The software’s ingenious features and dedication to quality line up with our tactical objectives, making it an essential part of our financial operations.
I find time and time again the workers frequently misclassified unknowingly they don’t comprehend the conditions of employment or agreement and are informed by the customer why it’s most advantageous mainly to the client why you need to be employed or participated in this style the worker may owe taxes and Social Security to the authorities the future pension and healthcare privileges of the employee can be impacted and numerous times it can be years before this all falls out and by that time it’s too late years have gone by they haven’t added to pensions And so on so it’s a big impact that they never knew they were strolling into you could not agree with you more if you say the UK for example hmrc can return as much as ten years um Kathy companies are taking out insurance versus misclassification however usually premiums are only covering the cost of legal charges whilst the average claim assessed versus companies corresponds to to 40 or half of the base salary of employee exists any point in getting insurance coverage and what is the alternative yeah to your point um you do need to check out the small print it is not covering the taxes charge and interest in most cases I haven’t seen it at least so uh the the other area 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 coverage on the basis of the truth that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Slovenia …
The detailed features of come at an expense,
Current years have seen a dramatic modification to the labor force as the rise of remote work has broken down geographical barriers to employing. Organizations can now employ staff from anywhere worldwide, permitting them to access the very best offered talent for any offered role. This provides workers more freedom to work from home and increase their earnings without transferring to pricey areas or travelling fars away. A 2022 survey discovered that 87% of workers who have the chance to work from another location take that chance. The break out of COVID-19, in conjunction with new enterprise connectivity software, sped up the relocate to remote work, consisting of in industries previously hesitant to welcome the pattern.
insights are important to us and and your fellow participants so first things initially though um let’s be familiar with everybody my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had functions in all sort of Industries retail and Appeal to Aerospace in all kinds of organizations start-up to matrixed environments around the world I provided leadership and method to populations of more than 100,000 workers on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across business male maning and constructing external relationships supporting Business customers and solutions and functioning as an advisor I want to present our very first Greg um visitor Greg who will kick things off by informing us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian stated my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal team and in fact work extremely closely with our um HR department too to handle different legal and HR matters that come up so truly excited 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 experts free to do excellent
Although Papaya Global offers integrations with numerous HR and financing systems, we encountered some hurdles throughout the integration process. Customizing the software application to line up with our existing facilities proved to be more complicated than prepared for, resulting in delays in the preliminary rollout.
The substantial features used by Papaya Global come at a cost, which some of our smaller sized subsidiaries discovered to be prohibitively costly. As an international organization, we needed to thoroughly weigh the requirement for advanced functionality versus spending plan constraints.
Assistance Reaction Time:
On occasion, our teams experienced issues that required urgent assistance. Nevertheless, the action time from Papaya Global’s customer assistance group was not constantly as timely as we would have liked, causing hold-ups in resolving those issues.
Our implementation of involved a phased technique. We began by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing processes. This permitted us to identify and address integration difficulties early on. As the software became more instilled in our operations, we gradually broadened its use to cover our whole worldwide labor force.
The automated features structured our payroll procedures, decreasing the time spent on manual computations and compliance tracking. Regular training sessions and ongoing support from Papaya helped our teams end up being competent users of the software, maximizing its potential for our company.
Business that worker workers throughout several nations typically deal with intricate difficulties when it concerns managing their labor force. Among the greatest hurdles is consolidating different data streams and sticking to diverse regional and nationwide labor regulations, which can be both lengthy and expensive. Moreover, establishing local entities in brand-new areas can be a costly and suboptimal alternative, with alternatives such as opening a foreign subsidiary or hiring an expert employment company (PEO) often charging up to 15% of the payroll. These challenges have actually led to a substantial boost in problem recruiting certified workers, with 75% of companies reporting this problem in 2022, a 21% boost from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers an option supporting all forms of work. It provides an end-to-end platform, from staff member onboarding and ongoing management to global payments and. It assists companies with labor law compliance in the jurisdictions in which they operate, provides management of employment advantages, and ensures information 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 technology gap in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to go to the complete webcast in order to get your credits if you have any questions throughout the webcast please click 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 study please be sure 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 thrilled to have you here as we embark on a journey of information to regulation achieving
360 degree staff member compliance where we’ll dive into the vital aspects of the employee compliance management design throughout the session we’ll check out real life obstacles real local policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to safeguard your organization and employees while staying certified in an
Ever evolving regulatory environment in the everchanging world of service and financing making sure compliance with payroll regulations is not just crucial however also a legal necessary 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 dangers that have far-reaching effects however with a deeper more nuanced understanding of their obligations companies can not just browse the complex 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 Surface of compliance whether you’re an experienced P professional a small business owner or someone brand-new to the field what I wish to do before we start and I believe it’s actually important
In our mission to improve performance and accuracy in handling our international labor force, our international corporation turned to, a leading and labor force management software. The shift intended to streamline the complex job of handling throughout different 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 multiple jurisdictions. This has been important in guaranteeing that our processes stay certified in each nation of operation.
is to state that the content here is not legal guidance it is just for your info please consult your legal team must you have any concerns or issues in relation to anything that we’ve gone over today our secret take essential takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to employ ly with self-confidence how to streamline data management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.
work as your hris or is type of your core staff member record um to handle that employee life process throughout their Journey with you as as a worker in addition to a payroll module we have to help you pay those workers and compensate them and benefits Administration module that enables you to assist manage the advantages you provide to your employees so truly delighted to be here represent um bamb booy container and speak about this topic um and I guess from my viewpoint I’ll I’ll most likely offer a lot of a focus on the United States side of things when we discuss kind of compliance so delighted to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to present yourself and inform the audience a little bit about papay global yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Employment specialist manager.
at I manage the work Council in the United States APAC EMA and Israel area I also serve as us Council for I’m accredited in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service work force provider to workers serving in over.
160 nations all right 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 intro so it’s really truly great to in fact see in the webinar chat where everyone’s in fact attending 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 definitely fantastic whilst we just await everyone else to sort of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting for everyone to type of join I’ll just run us through the agenda um today we are going to discuss hiring Talent brand-new higher Information Management termination compliance and automation wow the chat has got actually actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely everywhere which is great so uh I’m hoping that we’re in fact going to have some really great commentary and concerns throughout the uh the webinar too all right so that’s the program then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their information is Papaya Global Slovenia multifaceted without fail and an.
Ever evolving relationship that starts the moment an individual signs up with a company it continues throughout their work and Beyond this journey can be divided into k to a number of key phases whilst we’re really you understand that they’re employed with us so on boarding everyday operations settlement and advantages professional development then we get to the offboarding and even advocacy so it even happens after the worker has left your employment throughout the journey companies are responsible for gathering storing securing employee information in compliance with information privacy policies no matter where it is you’re operating worldwide it typically involves carrying out safe and secure data management systems and ensuring strict adherence to regional requirements to protect both the worker and the company the evolution of worker information and management c.