A CFO’s Point of view on Papaya Global Templates…
Papaya Global’s platform simplifies worldwide workforce management for companies, ensuring compliance with regional regulations and tax laws. Their services incorporate payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes international 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 dynamic landscape of global service operations, handling payroll throughout borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a worldwide business, I understand the important value of effective and compliant payroll management. In our pursuit of quality, we have embraced innovative solutions to streamline our procedures, and one such transformative tool is Software application.
The Challenge of Worldwide Payroll:
International growth brings about varied difficulties, and payroll management is no exception. Differing tax guidelines, differing employment laws, and several currencies make it crucial for organizations to embrace sophisticated solutions to ensure precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Service:
It is essential to consider and include post-termination restrictions in the employment agreement to guarantee enforceability. You need to carefully identify what you are looking for to safeguard and plainly specify the confidential information that falls within its scope. Furthermore, define the period of the post-termination restriction and be prepared to justify it in relation to intellectual property. The rules regarding intellectual property differ depending upon the type of IP and the jurisdiction. For example, in the Netherlands, completion customer is likely to have copyright rights over works produced by employees under their supervision, while in Poland, contractual project might be necessary.
Papaya Global Software application has actually emerged as a game-changer in the world of worldwide 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 seen firsthand the positive effect of on our organization’s monetary operations.
Unified International Payroll Processing:
allows our business to process payroll flawlessly across numerous countries. The platform’s unified method permits constant payroll calculations, lowering mistakes and making sure compliance with regional guidelines. This has actually substantially reduced the threats related to international payroll processing.
also key for if in the future someone states misclassification you have your file supported by the requisite documents and that the best examination tools to show somebody that you had a thoughtful process therefore what do you need to include because procedure it’s the who the what the where and the when who are you dealing with are you handling an individual or are you dealing with an individual Service Corporation and how are they running what are they doing is it the type of work that provides itself more to being an independent specialist 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 also uh where are they doing it can they work from anywhere or do they need to be on website and managed once again another key aspect is the management and supervision of the uh employee and then finally when is it a specific project is it a six-month task six years all of this is manageable but it has to be recorded and it has to be completely um investigated so we have a tool we call it ic2 we had an ic1 and we’ve improved it this year so that we can roll it out internationally these tools take a questionnaire list for the worker the employee completes and fills these concerns out and so does the end customer or the recipient of the services they both put their information into the tool and then it does an evaluation waiting the various concerns because not every jurisdiction has the very same feeling 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 most likely an employee yellow you’re on the cusp we can most likely help you with that in terms of some of the important things you need to strengthen to make sure that you are considered that assessment of uh independent specialist or green where you were assessed as an as a independent contractor once that examination is done all the requisite files are beneath it so that if later on there
Browsing the intricacies of global work laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our company up-to-date with modifications in policies across jurisdictions. This ensures that our payroll processes follow the most recent standards, decreasing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal companies who help us keep our databases totally approximately date and we also contact we require to when we see an uncommon or or particularly complex situations all right thanks Steve I can just see a fast question in the Q a window yes the session will be taped and sent out to attendees afterwards um moving back to to the webinar itself Ray employer of record is regulated differently all over the world and the German law for example it’s classed as employee leasing can you shed any light on a few of the special 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 is prevalent in numerous countries specifically in Europe enforces rigorous guidelines on items such as the length of task it also designates workers to collective bargaining contracts that gives them rights and benefits however even in the nations that do not have those strict regulations for example the UK Canada and the nordics there are guidelines for each country and each worker is treated the same as all the other workers because nation and all those guidelines require to be followed alright thank you Ray um Kathy moving I would state to yourself what do companies require to consider when identifying contract status to secure themselves and the rights of hires what are the advantages and disadvantages of working with specialists and Freelancers versus irreversible staff members so undoubtedly the the benefit of contractors versus employees is the the flexibility for both the worker and for the employer um however I can’t stress enough how essential it is to have a consistent comprehensive and a well-documented compliance
Papaya Global Templates and Time Cost Savings:
The software application’s automation abilities have actually significantly minimized the time and effort needed for payroll processing. Handbook information entry and repetitive tasks have actually been reduced, allowing our financing group to focus on tactical initiatives rather than administrative burdens. This has actually resulted in increased performance and performance within our monetary operations.
in one since each state has its own policies Californians are some of the most strict an example is pay slips on a payslip in California the ideal info has to be on the payslip in the right format and in the right position if you’re in breach of of policies for payslips the fines are released per payslip so that’s each staff member each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to stress to think of and we’re just two questions in and 10 minutes approximately employing in one nation is hard enough however when working with in a you understand on a global level it’s an entirely various story you require to make sure that you depend on date with current in addition to pending regional labor laws Steve um how do you make certain and guarantee that the people 2.0 team is on top of an ever-changing landscape and that your customers are completely supported and I’ll arrange this into three crucial things we carry out in firstly you require to have the right group so we hire a group of global professionals in Work Practices um that ex that team of experts consists of attorneys it includes payroll specialists it includes HR professionals and these are individuals that not just know the laws in these in these countries and areas however they likewise understand the languages they understand the regional practices they understand the cultures and it’s important to have that ideal team 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 accurate and timely monetary data is essential for decision-making. The platform’s reporting capabilities empower me to make educated tactical choices based upon real-time insights into our worldwide payroll information.
The useful application and level of the application to employment law can be assessed through the legal system using case law examples. For example, the obtained rights directive, likewise referred to as the 2p guidelines in the UK, and the working time guidelines have actually undergone different legal analyses, especially relating to holiday pay. Furthermore, the idea of work status has seen multiple legal precedents over the
Scalability for Company Growth:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software application perfectly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll facilities can adapt to the developing requirements of our worldwide company.
Global Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Look who is our senior vice president of customer service and I would say separately and collectively these three people have Decades of experience in in employment law and worldwide Employment Practices so thank you it’s a pleasure to be with everybody here today sounds like we’ve got the right people with us today and in in addition to to those well we likewise have among our own Stars delete share head of Global Provider at papaya International 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 locations on a personal element and related to our subject today I’ve had the opportunity to relocate and operate in three different countries it is the business’s obligation to ensure my security while residing in a foreign country compliance with local laws and guidelines is important for me or anyone else as an expat or as a regional so today we have welcomed our trusted Partners people 2.0 to show the importance of local
competence when companies Go Worldwide thank you and delight in all right thank you as I said let’s carry on to the pact program today’s webinar is a chance to ask the panel the questions you’ve been thinking of we’ll talk about the realities a business needs to think about when opening a new entity and expanding into new nations in addition to keeping things going we’ll cover aspects such as local policies considerations when hiring compliance crucial difficulties payments and what not to do it is among the most important 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 need to comprehend and handle knowing what to do in each new situation as it rises is essential on many levels comprehending local guidelines and local laws in addition to business practices helps mitigate Associated and worldwide growth papaya through our regional professionals can navigate potential threats such as intellectual property protection information personal privacy security issues making sure the company’s operations remain certified and safe tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has actually shown to be a vital possession in our mission for effective and compliant international payroll management. As the CFO of a worldwide company, I am positive in recommending Papaya Global to organizations seeking to improve their payroll processes, improve compliance, and achieve greater performance in managing their global labor force. The software application’s innovative features and commitment to excellence line up with our strategic goals, making it an important part of our monetary operations.
I discover time and time again the employees frequently misclassified unwittingly they don’t comprehend the conditions of work or agreement and are informed by the client why it’s most advantageous generally to the client why you must be used or engaged in this style the worker might owe taxes and Social Security to the authorities the future pension and healthcare opportunities of the employee can be affected 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 have not contributed to pensions Etc so it’s a huge impact that they never understood they were strolling 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 taking out insurance coverage against misclassification however normally premiums are just covering the expense of legal charges whilst the typical claim evaluated against employers relates to to 40 or half of the base pay of employee exists any point in getting insurance 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 for the most part I haven’t seen it at least so uh the the other location that I do believe if you managed to get the protection what we are saying is is that if your compliance program is not up to stuff you could be denied coverage on the basis of the fact that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Templates …
The extensive functions of come at a cost,
Over the past few years, the workforce has actually gone through a significant improvement with the emergence of remote work, which has gotten rid of geographical constraints on hiring. This has actually made it possible for services to hire skill from all over the world, permitting them to put together the very best possible team for each function. As a result, employees have acquired greater versatility to work from home and increase their revenues without needing to relocate to pricey areas or commute long distances. According to a 2022 survey, 87% of employees who have the option to work from another location choose to do so. The COVID-19 pandemic, integrated with improvements in business connectivity software, has even more accelerated the shift towards remote work, even in industries that were at first hesitant to adopt the pattern.
insights are valuable to us and and your fellow attendees so first things initially though um let’s get to know everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I have actually had roles in all kind of Industries retail and Charm to Aerospace in all types of businesses start-up to matrixed environments across the globe I provided leadership and technique to populations of more than 100,000 workers on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
International I work across business male maning and developing external relationships supporting Business clients and options and functioning 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 business counsil at bambo HR so I lead our internal legal group and actually work extremely carefully with our um HR department as well to deal with 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 mission is to set you as HR professionals totally free to do great
Although Papaya Global supplies combinations with numerous HR and finance systems, we encountered some obstacles during the integration process. Customizing the software application to line up with our existing facilities proved to be more intricate than prepared for, leading to delays in the preliminary rollout.
The extensive features provided by Papaya Global come at an expense, which a few of our smaller subsidiaries found to be excessively costly. As a worldwide company, we needed to carefully weigh the requirement for innovative functionality against budget plan constraints.
Assistance Response Time:
On occasion, our teams experienced concerns that required immediate support. However, the reaction time from Papaya Global’s customer support group was not constantly as timely as we would have liked, causing hold-ups in dealing with those problems.
Our application of included a phased method. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This allowed us to determine and deal with combination obstacles early on. As the software application ended up being more instilled in our operations, we slowly expanded its use to cover our entire global labor force.
The automated features structured our payroll procedures, minimizing the time invested in manual estimations and compliance tracking. Routine training sessions and continuous support from Papaya helped our groups end up being skilled users of the software application, optimizing its potential for our company.
However, paying a workforce can be complicated. It is especially challenging for business who use staff across numerous nations, as they should constantly combine different information streams, manually track local and nationwide labor and regulations, and invest important time and resources to establish regional entities in brand-new areas. These business are faced with suboptimal, expensive options, like opening a foreign subsidiary or working with an expert work organization, which is a local firm that hires employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported problem recruiting certified workers, an increase of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers an option supporting all forms of employment. It provides an end-to-end platform, from worker 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 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 professional in payroll and workforce management. She co-founded after seeing the innovation gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to attend the total webcast in order to get your credits if you have any questions during the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your web browser with the webcast study please make sure to finish it as soon as the webcast has 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 start a journey of data to regulation attaining
360 degree staff member compliance where we’ll dive into the essential aspects of the employee compliance management design throughout the session we’ll check out real life obstacles genuine local regulations 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 employees while remaining compliant in an
Ever progressing regulative environment in the everchanging world of business and finance guaranteeing compliance with payroll regulations is not just vital but also a legal essential from the moment of employing 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 nevertheless with a deeper more nuanced understanding of their obligations organizations can not just navigate the complex landscape however also proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools necessary to browse the complex Terrain of compliance whether you’re a seasoned P specialist a small company owner or someone brand-new to the field what I would like to do before we start and I believe it’s truly crucial
In our mission to boost performance and precision in handling our global workforce, our multinational corporation turned to, a leading and workforce management software. The transition aimed to simplify the complex task of handling across numerous countries, currencies, and compliance guidelines.
One of the standout functions of is its robust compliance management system. The software application immediately updates itself to adhere to ever-evolving tax and labor laws throughout numerous jurisdictions. This has been vital in ensuring that our procedures stay compliant in each country of operation.
is to state that the content here is illegal recommendations it is just for your info please consult your legal group must 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 employ ly with confidence how to streamline data management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we have actually.
work as your hris or is kind of your core employee record um to manage that worker life cycle throughout their Journey with you as as an employee 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 workers so actually excited to be here represent um bamb booy jar and discuss this subject um and I think from my viewpoint I’ll I’ll most likely provide a great deal of a focus on the United States side of things when we discuss type of compliance so happy 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 absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment professional supervisor.
at I manage the work Council in the United States APAC EMA and Israel region I likewise serve as us Council for I’m licensed in New york city and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and labor force management as a Service work force company to workers serving in over.
160 countries fine thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the introduction so it’s really truly great to in fact see in the webinar chat where everybody’s in fact participating in 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 await everyone else to type of like join in there we go Chicago too well um so whil we’re doing that I’m waiting for everybody to kind of join I’ll just run us through the agenda um today we are going to talk about working with Talent brand-new higher Details Management termination compliance and automation wow the chat has actually got really really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely everywhere which is wonderful so uh I’m hoping that we’re in fact going to have some really excellent commentary and concerns throughout the uh the webinar too fine so that’s the agenda then what I ‘d like to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a staff member and their information is Papaya Global Templates diverse without fail and an.
Ever developing relationship that starts the minute an individual signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to numerous essential phases whilst we’re really you know that they’re used with us so on boarding daily operations payment and benefits professional development then we get to the offboarding and even advocacy so it even happens after the staff member has left your work throughout the journey organizations are responsible for gathering storing securing worker information in compliance with data personal privacy policies no matter where it is you’re operating around the world it often involves executing protected information management systems and ensuring strict adherence to local requirements to safeguard both the employee and the organization the advancement of staff member data and management c.