A CFO’s Perspective on Papaya Global Tiers…
Papaya Global’s platform streamlines worldwide labor force management for business, ensuring compliance with local policies and tax laws. Their services include payroll processing, benefits administration, compliance oversight, time and attendance 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, London, and Kiev.
In the vibrant landscape of worldwide service operations, managing payroll throughout borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a worldwide business, I comprehend the crucial value of effective and certified payroll management. In our pursuit of excellence, we have welcomed ingenious options to improve our processes, and one such transformative tool is Software.
The Obstacle of Worldwide Payroll:
Global growth causes diverse obstacles, and payroll management is no exception. Differing tax guidelines, varying employment laws, and several currencies make it imperative for companies to embrace advanced solutions to make sure accuracy, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Solution:
workers so it’s really fundamental to make sure that you have actually thought about from the outset any post-termination constraints that you wish to put into the agreement of employment that they’re enforceable so that indicates you need to actually consider what it is you’re seeking to protect and why clearly Specify what’s included within the scope of that secret information and attend to the duration of limitation post-determination that you wish to apply and be truly able to to validate that in relation to intellectual property the position actually depends upon the kind of copyright you’re seeking to protect and likewise the jurisdiction so for example from a copyright viewpoint in the Netherlands completion customer is more likely to have the um copyright rights in a copyright that the employees produced who’s been under their guidance and control automatically nevertheless in someplace like Poland for instance that automated right may not exist which task would need to flow through the chain uh contractually so it truly depends on the jurisdiction and the type of IP all right thank you Elizabeth Steve was remaining on the subject of agreements Miss categorized misclassifying employees
Papaya Global Software application has become a game-changer in the realm of worldwide payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly user interface. As the CFO, I have witnessed firsthand the favorable impact of on our organization’s financial operations.
Unified Worldwide Payroll Processing:
enables our company to process payroll effortlessly across numerous nations. The platform’s unified method allows for constant payroll estimations, lowering mistakes and ensuring compliance with local policies. This has significantly mitigated the risks associated with worldwide payroll processing.
also crucial for if later someone states misclassification you have your file supported by the requisite documents and that the best evaluation tools to reveal somebody that you had a thoughtful process and so what do you have to consist of 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 type of work that provides itself more to being an independent specialist than a worker so for example accounting
I.T engineering the creatives these all lend themselves more to that examination of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they have to be on website and managed again another crucial factor is the management and supervision of the uh worker and after that finally when is it a particular job is it a six-month task 6 years all of this is manageable but it has to be documented and it needs to be completely um investigated 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 internationally these tools take a survey list for the worker the worker submits and fills these questions out and so does the end customer or the recipient of the services they both put their details into the tool and then it does an examination waiting the different concerns because not every jurisdiction has the same feeling about some of these questions some think 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 regards to a few of the things you require to strengthen to make sure that you are given that evaluation of uh independent contractor or green where you were evaluated as an as a independent specialist once that evaluation is done all the requisite files are underneath it so that if in the future there
Navigating the intricacies of international employment laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our company current with modifications in regulations throughout jurisdictions. This guarantees that our payroll procedures abide by the most recent standards, decreasing the risk of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal firms who help us keep our databases completely as much as date and we likewise get in touch with we need to when we see an unusual or or particularly complex circumstances alright thanks Steve I can simply see a quick concern in the Q a window yes the session will be taped and sent out to attendees later on um returning to to the webinar itself Ray company of record is controlled in a different way worldwide 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 nations and where the eor model isn’t regulated yes Ian employee leasing or labor leasing as it’s also called which is prevalent in several countries specifically in Europe enforces strict policies on products such as the length of task it likewise designates employees to collective bargaining arrangements 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 policies for each country and each employee is dealt with the same as all the other workers in that country and all those regulations require to be abided by alright thank you Ray um Kathy moving I would say to yourself what do business require to consider when identifying contract status to safeguard themselves and the rights of hires what are the advantages and disadvantages of hiring specialists and Freelancers versus permanent staff members so clearly the the benefit of professionals versus workers is the the versatility for both the worker and for the employer um however I can’t worry enough how important it is to have a consistent thorough and a well-documented compliance
Papaya Global Tiers and Time Cost Savings:
The software application’s automation capabilities have actually considerably decreased the time and effort required for payroll processing. Handbook data entry and repeated jobs have been lessened, permitting our finance team to focus on tactical efforts rather than administrative burdens. This has led to increased effectiveness and productivity within our financial operations.
in one considering that 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 best position if you remain in breach of of policies for payslips the fines are released per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to worry to think of and we’re just 2 concerns in and 10 minutes approximately hiring in one nation is challenging enough but when employing in a you know on a global level it’s a totally different 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 ensure and make sure that individuals 2.0 group is on top of an ever-changing landscape which your customers are fully supported and I’ll organize this into three essential things we do in primarily you need to have the best group so we hire a team of worldwide professionals in Employment Practices um that ex that group of specialists consists of attorneys it consists of payroll specialists it includes HR professionals and these are people that not only know the laws in these in these nations and regions however they likewise know the languages they understand the regional practices they understand the cultures and it is essential to have that ideal group and really have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers 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 informed strategic choices based upon real-time insights into our international payroll information.
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 acquired rights directive otherwise known as the 2p guidelines in the UK the working time guidelines which has had different strands of that legislation tested particularly around holiday pay and obviously as Kathy’s going to come on to talk about later work status which there’s been multiple precedence set throughout the years so I believe it’s really that consistent development of the work law landscape that you truly require to navigate when when working in Europe all right thank you Elizabeth Ray what about you from your individual experience while crossing the pond as mentioned each nation has various regulations but the United States is basically 50 countries
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 perfectly accommodates modifications in our workforce and payroll requirements. This scalability makes sure that our payroll facilities can adapt to the developing requirements of our worldwide organization.
International Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of customer service and I would state separately and collectively these three individuals have Years of experience in in employment law and worldwide Work Practices so thank you it’s a pleasure to be with everybody here today sounds like we have actually got the right people with us today and in in addition to to those well we likewise have one of our own Stars delete share head of Global Services at papaya International inform us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the company for around four and a half years as head of Partnerships I have actually established Papaya’s network of in-country Partners in over 160 locations on a personal aspect and related to our subject today I have actually had the opportunity to transfer and work in three different countries it is the company’s obligation to guarantee my defense while residing in a foreign country compliance with local laws and policies is crucial for me or anybody else as an expat or as a local so today we have actually invited our trusted Partners people 2.0 to demonstrate the significance of local
competence when companies Go Worldwide thank you and enjoy fine thank you as I said let’s move on to the pact agenda today’s webinar is a chance to ask the panel the concerns you have actually been thinking of we’ll go over the facts a company needs to consider when opening a new entity and broadening into new countries in addition to keeping things going we’ll cover aspects such as local guidelines factors to consider when hiring compliance crucial challenges payments and what not to do it’s one of the most important things remembering what not to do um operating on a global level is not for the faint-hearted the larger a business grows the more they require to understand and handle understanding what to do in each brand-new scenario as it increases is essential on numerous levels understanding local regulations and regional laws in addition to organization practices helps alleviate Associated and worldwide growth papaya through our regional professionals can browse potential dangers such as intellectual property defense data personal privacy security problems guaranteeing the business’s operations stay compliant and safe tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has proven to be an indispensable possession in our quest for efficient and certified international payroll management. As the CFO of an international company, I am positive in advising Papaya Global to companies looking for to enhance their payroll processes, enhance compliance, and attain greater performance in managing their global workforce. The software’s ingenious functions and dedication to excellence align with our strategic goals, making it an essential part of our financial 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 announced settlements there’s likewise substantial legal costs there’s there’s other penalties there’s other costs behind that as well so the total cost can be very substantial in the tens of countless dollars or more and and those amounts are growing uh the reason why companies are getting it so incorrect is truly simply the rules are intricate and they’re changing all the time believe ir-35 in the UK which has actually been an ongoing development for several years now and and still a great deal of unpredictability among companies on what it truly indicates and how you handle it most companies are just not knowledgeable about the rules and and act as if the the rules are the same all over which they’re not so so encourage you to to be very proactive as you’re engaging uh workers from a classification point of view alright thank you Stephen and returning to yourself Ray it’s not only the business that suffers in the long run what results can this have on the staff member Papaya Global Tiers particularly when it pertains to their own tax liabilities social security and advantages for instance jury and undoubtedly the workers the opposite of the coin
I discover time and time again the workers often misclassified unwittingly they do not comprehend the conditions of employment or agreement and are informed by the customer why it’s optimum primarily to the client why you must be used or engaged in this style the employee might owe taxes and Social Security to the authorities the future pension and healthcare opportunities of the worker can be impacted 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 passed they have not added to pensions And so on so it’s a huge effect that they never ever understood they were strolling into you couldn’t agree with you more if you state the UK for example hmrc can go back as much as ten years um Kathy companies are getting insurance coverage against misclassification but normally premiums are just covering the expense of legal charges whilst the typical claim examined versus employers relates to to 40 or 50 percent of the base pay of employee is there any point in getting insurance coverage and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes penalty and interest for the most part I haven’t seen it at least so uh the the other location 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 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 Factors to consider and Papaya Global Tiers …
The thorough features of come at an expense,
Recent years have seen a remarkable modification to the labor force as the increase of remote work has broken down geographical barriers to employing. Businesses can now work with personnel from anywhere worldwide, allowing them to access the best readily available skill for any offered role. This offers workers more freedom to work from home and increase their income without transferring to costly locations or travelling cross countries. A 2022 study discovered that 87% of workers who have the opportunity to work remotely take that opportunity. The break out of COVID-19, in conjunction with new business connection software, sped up the move to remote work, including in industries formerly reluctant to accept the trend.
insights are important to us and and your fellow attendees so first things initially though um let’s get to know everybody my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had roles in all sort of Industries retail and Beauty to Aerospace in all kinds of services start-up to matrixed environments around the world I provided leadership and strategy to populations of more than 100,000 employees on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
International I work throughout business male maning and developing external relationships supporting Enterprise customers and services and functioning as a consultant I wish to present our very first Greg um guest Greg who will kick things off by telling us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our internal legal group and actually work extremely closely with our um HR department too to manage numerous legal and HR matters that turn up so really delighted to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our objective is to set you as HR experts complimentary to do great
While Papaya Global deals integrations with numerous HR and finance systems, the execution procedure was not without difficulties. Incorporating the software with our existing facilities needed extra customization, causing some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Tiers 2024
and some smaller sized subsidiaries within our organization discovered the rates to be on the higher side. As a worldwide company, balancing the need for sophisticated functions with spending plan restrictions became a delicate workout.
Client Support Reaction Time:
There were instances where our teams dealt with issues that required prompt support. However, the action time from’s consumer support group was not always as quick as wanted, leading to occasional hold-ups in concern resolution.
Our execution of included a phased method. We started by onboarding a few subsidiaries to test the system’s compatibility with our existing processes. This permitted us to identify and attend to combination difficulties early on. As the software became more instilled in our operations, we slowly broadened its use to cover our whole international labor force.
The automated features streamlined our payroll processes, decreasing the time spent on manual computations and compliance tracking. Routine training sessions and continuous assistance from Papaya assisted our teams end up being proficient users of the software, optimizing its potential for our organization.
Business that staff member workers across multiple nations often face intricate obstacles when it pertains to handling their labor force. Among the greatest hurdles is combining different data streams and adhering to diverse local and national labor regulations, which can be both time-consuming and pricey. Additionally, establishing regional entities in brand-new areas can be a costly and suboptimal choice, with alternatives such as opening a foreign subsidiary or hiring an expert employment organization (PEO) frequently 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 issue in 2022, a 21% boost from 2019. The payroll and HR options market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers a solution supporting all forms of employment. It supplies an end-to-end platform, from worker onboarding and continuous management to global payments and. It assists companies with labor law compliance in the jurisdictions in which they operate, uses 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 expert in payroll and workforce management. She co-founded after seeing the innovation gap in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to participate in the complete 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 browser with the webcast study please make sure to complete 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 hi and thank you for joining us today we’re enjoyed have you here as we start a journey of information to regulation accomplishing
360 degree worker compliance where we’ll dive into the vital aspects of the staff member compliance management design throughout the session we’ll explore real life difficulties real local regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to protect your company and workers while remaining compliant in an
Ever progressing regulative environment in the everchanging world of business and finance ensuring compliance with payroll regulations is not just crucial but also a legal essential from the minute of employing to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance risks that have far-reaching repercussions nevertheless with a deeper more nuanced understanding of their commitments companies can not just browse the detailed landscape but likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools required to browse the complex Terrain of compliance whether you’re a skilled 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 actually crucial
In our quest to boost efficiency and precision in managing our worldwide labor force, our multinational corporation turned to, a leading and workforce management software. The shift aimed to streamline the complex task of handling throughout numerous nations, currencies, and compliance regulations.
One of the standout functions of is its robust compliance management system. The software application immediately updates itself to abide by ever-evolving tax and labor laws across several jurisdictions. This has been important in ensuring that our processes remain compliant in each nation of operation.
is to state that the material here is not legal guidance it is just for your information please consult your legal team 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 worker compliance risks how to hire ly with self-confidence how to streamline information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.
function as your hris or is type of your core worker record um to manage that worker life cycle 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 benefits Administration module that allows you to help manage the advantages you offer to your staff members so truly thrilled to be here represent um bamb booy jar and speak about this subject um and I think from my perspective I’ll I’ll most likely provide a great deal of a focus on the US side of things when we speak about sort of compliance so happy to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to introduce 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 professional supervisor.
at I handle the employment Council in the US APAC EMA and Israel region I also work as us Council for I’m certified in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and labor force management as a Service labor force service provider to employees serving in over.
160 countries okay thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were type of like going through the intro so it’s actually actually nice to actually see in the webinar chat where everyone’s in fact going to from today I can see that we have individuals in Las Vegas and Indiana already so if you want to continue tell where you are that would be absolutely fantastic whilst we just wait on everybody else to kind of like take part there we go Chicago also well um so whil we’re doing that I’m awaiting everyone to sort of join I’ll just run us through the program um today we are going to go over employing Talent brand-new higher Details Management termination compliance and automation wow the chat has actually got truly really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely everywhere which is fantastic so uh I’m hoping that we’re actually going to have some truly fantastic commentary and concerns throughout the uh the webinar also alright so that’s the agenda then what I want 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 Tiers multifaceted without fail and an.
Ever evolving relationship that starts the moment an individual joins a company it continues throughout their employment and Beyond this journey can be divided into k to numerous crucial phases whilst we’re in fact you understand that they’re utilized with us so on boarding everyday operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even occurs after the staff member has actually left your employment throughout the journey organizations are accountable for gathering storing safeguarding staff member data in compliance with data personal privacy policies no matter where it is you’re operating worldwide it frequently involves executing protected information management systems and guaranteeing stringent adherence to regional requirements to safeguard both the worker and the organization the advancement of staff member information and management c.