A CFO’s Perspective on Papaya Global Support Line…
Papaya Global’s platform enhances global workforce management for business, making sure compliance with regional guidelines and tax laws. Their services incorporate payroll processing, benefits administration, compliance oversight, time and attendance tracking, and HR support. The platform centralizes global payroll operations, offering businesses with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of global business operations, managing payroll across borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of an international company, I understand the vital importance of effective and certified payroll management. In our pursuit of excellence, we have actually accepted innovative options to streamline our processes, and one such transformative tool is Software.
The Challenge of Global Payroll:
International expansion produces diverse challenges, and payroll management is no exception. Differing tax regulations, differing employment laws, and several currencies make it imperative for companies to adopt sophisticated solutions to ensure precision, compliance, and performance in payroll processing.
Software application: A Comprehensive Option:
workers so it’s truly basic to guarantee that you have actually thought about from the beginning any post-termination constraints that you want to put into the contract of employment that they’re enforceable so that implies you require to really think about what it is you’re seeking to secure and why plainly Define what’s consisted of within the scope of that confidential information and deal with the duration of limitation post-determination that you want to apply and be really able to to validate that in relation to intellectual property the position really depends on the kind of intellectual property you’re aiming to safeguard and also the jurisdiction so for instance from a copyright perspective in the Netherlands completion client is most likely to have the um intellectual property rights in a copyright that the workers produced who’s been under their guidance and control instantly however in somewhere like Poland for example that automatic right might not be there which assignment would require to flow through the chain uh contractually so it really depends upon the jurisdiction and the type of IP all right thank you Elizabeth Steve was staying on the topic of agreements Miss classified misclassifying workers
Papaya Global Software has actually become a game-changer in the realm of global payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, easy to use interface. As the CFO, I have actually experienced firsthand the favorable impact of on our organization’s financial operations.
Unified International Payroll Processing:
enables our business to procedure payroll flawlessly across numerous nations. The platform’s unified approach allows for consistent payroll calculations, lowering errors and making sure compliance with regional guidelines. This has substantially alleviated the risks connected with global payroll processing.
likewise crucial for if in the future someone says misclassification you have your file supported by the requisite files and that the best assessment tools to show somebody that you had a thoughtful process therefore what do you have to consist of because process it’s the who the what the where and the when who are you dealing with are you handling an individual or are you handling an individual 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 professional than an employee so for example accounting
I.T crafting the creatives these all provide themselves more to that assessment of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they need to be on site and managed again another crucial aspect is the management and supervision of the uh worker and then lastly when is it a particular project is it a six-month task 6 years all of this is manageable however it has to be recorded and it needs to be completely 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 globally these tools take a survey list for the employee the worker fills out and fills these concerns out therefore does completion customer or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the various questions since not every jurisdiction has the very same sensation about some of these concerns some think they’re more crucial than others and it brings out 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 some of the important things you need to bolster to make sure that you are given that examination of uh independent contractor or green where you were examined as an as a independent specialist once that evaluation is done all the requisite documents are underneath it so that if later there
Navigating the complexities of international work laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization updated with modifications in policies across jurisdictions. This makes sure that our payroll procedures follow the most recent requirements, minimizing the risk of non-compliance and associated penalties.
network of In-House outside advisors accounting companies and legal companies who assist us keep our databases totally up to date and we likewise call on we require to when we see an uncommon or or especially intricate situations okay thanks Steve I can simply see a fast question in the Q a window yes the session will be recorded and sent to guests later on um returning to to the webinar itself Ray company of record is controlled in a different way all over the world and the German law for instance it’s classed as worker leasing can you shed any light on a few of the unique factors to consider for nations and where the eor design isn’t regulated yes Ian staff member leasing or labor leasing as it’s likewise called which is prevalent in a number of nations specifically in Europe imposes stringent guidelines on products such as the length of project it also appoints employees to collective bargaining contracts that gives them rights and advantages but even in the countries that don’t have those rigorous policies for example the UK Canada and the nordics there are policies for each nation and each employee is treated the same as all the other workers because country and all those guidelines need to be followed fine thank you Ray um Kathy moving I would say to yourself what do business require to consider when figuring out agreement status to secure themselves and the rights of hires what are the benefits and drawbacks of employing professionals and Freelancers versus irreversible workers so undoubtedly the the benefit of contractors versus workers is the the versatility for both the worker and for the company um but I can’t stress enough how important it is to have a consistent comprehensive and a well-documented compliance
Papaya Global Support Line and Time Savings:
The software application’s automation abilities have considerably lowered the time and effort needed for payroll processing. Handbook data entry and repeated jobs have actually been decreased, allowing our finance team to concentrate on tactical efforts rather than administrative burdens. This has actually led to increased effectiveness and performance within our monetary operations.
in one since each state has its own guidelines Californians are some of the most strict an example is pay slips on a payslip in California the ideal info needs to be on the payslip in the ideal format and in the best position if you remain in breach of of regulations 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 stress to consider and we’re just 2 concerns in and 10 minutes or two hiring in one nation is challenging enough but when working with in a you understand on a global level it’s an entirely different story you need to make certain that you depend on date with present along with pending local labor laws Steve um how do you ensure and make sure that individuals 2.0 team is on top of an ever-changing landscape and that your customers are totally supported and I’ll organize this into three essential things we perform in primarily you need to have the best team so we work with a team of worldwide experts in Work Practices um that ex that group of specialists consists of lawyers it consists of payroll professionals it consists of HR specialists and these are individuals that not only know the laws in these in these countries and areas but they also know the languages they understand the regional practices they know the cultures and it is very important to have that best group and really have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides detailed real-time analytics and reporting tools. As a CFO, having access to precise and prompt monetary information is crucial for decision-making. The platform’s reporting capabilities empower me to make educated strategic choices based on real-time insights into our global payroll information.
application and its scope and the way that it applies to employment law in practice can be evaluated through the judicial system by way of case law examples of that would be the obtained rights regulation otherwise referred to as the 2p guidelines in the UK the working time guidelines which has had numerous hairs of that legislation evaluated 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 actually that consistent evolution of the employment law landscape that you really need to browse when when operating in Europe all right thank you Elizabeth Ray what about you from your personal experience while crossing the pond as mentioned each nation has different regulations but the United States is basically 50 nations
Scalability for Service Growth:
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 workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the developing needs of our worldwide company.
International Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of client services and I would say separately and jointly these three people have Decades of experience in in work law and international Work Practices so thank you it’s a pleasure to be with everyone 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 erase share head of Global Solutions at papaya Worldwide tell us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the business for around four and a half years as head of Collaborations I have developed Papaya’s network of in-country Partners in over 160 areas on a personal aspect and related to our subject today I’ve had the chance to move and work in 3 various nations it is the business’s responsibility to guarantee my protection while living in a foreign country compliance with local laws and guidelines is important for me or anybody else as an expat or as a local so today we have actually welcomed our relied on Partners people 2.0 to demonstrate the value of regional
expertise when companies Go Global thank you and take pleasure in all right thank you as I stated let’s move on to the pact agenda today’s webinar is a chance to ask the panel the questions you have actually been considering we’ll talk about the facts a company requires to consider when opening a new entity and expanding into brand-new nations as well as keeping things going we’ll cover elements such as regional policies considerations when employing compliance crucial obstacles payments and what not to do it is among 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 need to understand and manage understanding what to do in each brand-new situation as it increases is necessary on many levels comprehending local guidelines and regional laws along with service practices helps alleviate Associated and global expansion papaya through our local professionals can navigate possible threats such as intellectual property security information personal privacy security concerns guaranteeing the company’s operations remain certified and secure tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has proven to be a vital asset in our mission for efficient and compliant worldwide payroll management. As the CFO of an international business, I am confident in recommending Papaya Global to companies looking for to enhance their payroll procedures, improve compliance, and accomplish higher performance in managing their international labor force. The software application’s innovative functions and dedication to quality line up with our strategic goals, making it an important part of our monetary operations.
publicly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly revealed settlements there’s likewise significant legal expenses there’s there’s other charges there’s other expenses behind that also so the overall expense can be very significant in the tens of countless dollars or more and and those quantities are growing uh the reason that business are getting it so incorrect is actually just the guidelines are complicated and they’re altering all the time believe ir-35 in the UK which has actually been a continuous development for a number of years now and and still a great deal of uncertainty among companies on what it really means and how you handle it most companies are just not aware of the guidelines and and act as if the the rules are the same all over which they’re not so so encourage you to to be extremely proactive as you’re engaging uh employees from a category point of view all right thank you Stephen and moving back to yourself Ray it’s not only the company that suffers in the long run what effects can this have on the employee Papaya Global Support Line specifically when it concerns their own tax liabilities social security and benefits for example jury and undoubtedly the employees the other side of the coin
I discover time and time again the workers typically misclassified unknowingly they do not comprehend the conditions of employment or agreement and are told by the client why it’s optimum primarily to the customer why you need to be used or engaged in this style the worker may owe taxes and Social Security to the authorities the future pension and health care privileges of the worker can be impacted and several times it can be years before this all falls out and by that time it’s too late years have actually passed they haven’t added to pensions Etc so it’s a big impact that they never understood they were walking into you could not agree with you more if you state the UK for instance hmrc can return as much as 10 years um Kathy companies are getting insurance coverage versus misclassification but normally premiums are just covering the expense of legal costs whilst the typical claim assessed versus companies relates to to 40 or 50 percent of the base pay of worker exists 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 most cases I haven’t seen it at least so uh the the other location that I do think if you managed to get the coverage what we are saying is is that if your compliance program is not up to stuff you could be rejected protection on the basis of the truth that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Support Line …
The detailed features of come at a cost,
Recent years have seen a significant modification to the workforce as the increase of remote work has actually broken down geographical barriers to working with. Businesses can now hire staff from anywhere worldwide, allowing them to access the best offered talent for any offered role. This offers employees more freedom to work from home and increase their income without transferring to costly areas or travelling fars away. A 2022 study found that 87% of staff members who have the opportunity to work from another location take that opportunity. The outbreak of COVID-19, in conjunction with brand-new business connection software application, sped up the transfer to remote work, consisting of in industries formerly reluctant to embrace the trend.
insights are valuable to us and and your fellow attendees so first things first though um let’s get to know everyone my name is Ian Charles and I have actually operated in payroll for the last 25 years I have actually had functions in all kind of Industries retail and Appeal to Aerospace in all types of businesses startup to matrixed environments around the world I supplied management and strategy to populations of more than 100,000 employees on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work throughout business male maning and building external relationships supporting Enterprise customers and options and functioning as an advisor I wish to present our first Greg um guest 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 business counsil at bambo HR so I lead our in-house legal team and actually work extremely closely with our um HR department also to handle different legal and HR matters that show up so actually excited to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our objective is to set you as HR specialists free to do fantastic
While Papaya Global offers integrations with numerous HR and financing systems, the application process was not without difficulties. Integrating the software with our existing infrastructure required extra personalization, resulting in some delays in the initial rollout.
Paying FAQs Papaya Global Support Line 2024
and some smaller sized subsidiaries within our company discovered the rates to be on the greater side. As an international company, balancing the need for innovative features with spending plan constraints ended up being a fragile workout.
Consumer Assistance Reaction Time:
There were instances where our groups faced concerns that needed prompt assistance. However, the action time from’s customer assistance team was not constantly as quick as preferred, leading to occasional hold-ups in concern resolution.
Our execution of involved a phased method. We started by onboarding a few subsidiaries to check the system’s compatibility with our existing processes. This permitted us to recognize and deal with combination difficulties early on. As the software ended up being more implanted in our operations, we slowly broadened its usage to cover our whole global labor force.
The automated functions structured our payroll processes, reducing the time spent on manual estimations and compliance tracking. Regular training sessions and ongoing assistance from Papaya helped our teams end up being proficient users of the software, maximizing its potential for our company.
Companies that staff member workers across multiple nations frequently deal with intricate challenges when it comes to handling their labor force. One of the biggest hurdles is consolidating different information streams and sticking to diverse regional and national labor policies, which can be both lengthy and expensive. Furthermore, setting up regional entities in new areas can be a pricey and suboptimal option, with options such as opening a foreign subsidiary or employing an expert work organization (PEO) frequently charging up to 15% of the payroll. These obstacles have actually led to a considerable increase in difficulty recruiting certified personnel, with 75% of employers reporting this issue 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.
offers a service supporting all types of employment. It provides an end-to-end platform, from staff member onboarding and ongoing management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they run, offers management of employment benefits, and ensures data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading expert in payroll and workforce management. She co-founded after seeing the innovation space in global.
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 get your credits if you have any questions during 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 make certain to finish 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 policy accomplishing
360 degree employee compliance where we’ll dive into the important elements of the employee compliance management model throughout the session we’ll explore real world challenges genuine local regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to protect your organization and workers while remaining certified in an
Ever evolving regulative environment in the everchanging world of service and financing making sure compliance with payroll regulations is not only important but likewise a legal imperative from the minute of working with to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance risks that have far-reaching consequences however with a deeper more nuanced understanding of their obligations organizations can not only navigate the intricate landscape however likewise proactively ensure this 360 degree compliance the webinar is created to equip you with the understanding and tools essential to navigate the complex Surface of compliance whether you’re a seasoned P professional a small company owner or somebody new to the field what I would like to do before we begin and I think it’s actually essential
In our mission to improve effectiveness and accuracy in managing our global workforce, our multinational corporation turned to, a leading and workforce management software. The transition aimed to streamline the complex task of handling throughout different countries, currencies, and compliance guidelines.
Among the standout functions of is its robust compliance management system. The software instantly updates itself to adhere to ever-evolving tax and labor laws across several jurisdictions. This has been important in guaranteeing that our procedures stay compliant in each country of operation.
is to state that the content here is illegal advice it is merely for your info please consult your legal group ought to you have any questions or concerns in relation to anything that we have actually talked about today our key take crucial takeaways by the end of the webinar will be an understanding of employee compliance risks how to work with ly with confidence how to streamline information management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
act as your hris or is kind of your core staff member record um to manage that staff member life process throughout their Journey with you as as a staff member in addition to a payroll module we need to assist you pay those employees and compensate them and benefits Administration module that allows you to assist handle the benefits you offer to your staff members so truly delighted to be here represent um bamb booy jar and talk about this topic um and I think from my point of view I’ll I’ll probably provide a great deal of a concentrate on the US side of things when we speak about type of compliance so pleased to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay international yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Work expert manager.
at I handle the employment Council in the US APAC EMA and Israel region I also work as us Council for I’m licensed 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 work force supplier to employees serving in over.
160 nations all right thank you so both I feel totally 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 really nice to actually see in the webinar chat where everyone’s in fact attending from today I can see that we have individuals in Las Vegas and Indiana already so if you want to continue inform where you are that would be absolutely fantastic whilst we just wait on everybody else to sort of like take part 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 simply run us through the program um today we are going to discuss employing Skill new higher Info 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 definitely everywhere which is fantastic so uh I’m hoping that we’re in fact going to have some really great commentary and concerns throughout the uh the webinar also okay so that’s the agenda then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their data is Papaya Global Support Line multifaceted without fail and an.
Ever evolving relationship that begins the minute a person joins a company it continues throughout their work and Beyond this journey can be divided into k to a number of essential stages whilst we’re really you know that they’re employed with us so on boarding daily operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even occurs after the worker has actually left your work throughout the journey organizations are responsible for collecting storing securing worker data in compliance with information personal privacy guidelines no matter where it is you’re running worldwide it often includes executing secure information management systems and making sure rigorous adherence to local requirements to safeguard both the employee and the company the advancement of employee data and management c.