A CFO’s Point of view on Papaya Global Tiger…
Papaya Global’s platform simplifies worldwide workforce management for companies, ensuring compliance with local guidelines and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes global payroll operations, supplying companies with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of global organization operations, handling payroll throughout borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a global company, I understand the important importance of effective and compliant payroll management. In our pursuit of excellence, we have actually embraced innovative solutions to improve our procedures, and one such transformative tool is Software.
The Obstacle of International Payroll:
Global growth produces varied challenges, and payroll management is no exception. Differing tax guidelines, varying work laws, and numerous currencies make it necessary for organizations to embrace sophisticated services to make sure accuracy, compliance, and performance in payroll processing.
Software application: A Comprehensive Solution:
workers so it’s really essential to make sure that you have actually thought about from the start any post-termination limitations that you wish to take into the agreement of employment that they’re enforceable so that indicates you need to really think of what it is you’re aiming to protect and why clearly Define what’s included within the scope of that secret information and attend to the duration of restriction post-determination that you want to apply and be really able to to justify that in relation to copyright the position really depends upon the type of copyright you’re looking to secure and likewise the jurisdiction so for instance from a copyright perspective in the Netherlands the end customer is most 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 automatic right may not exist which project would need to stream through the chain uh contractually so it really depends upon the jurisdiction and the kind of IP all right thank you Elizabeth Steve was staying on the topic of contracts Miss categorized misclassifying staff members
Papaya Global Software has actually become 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 user interface. As the CFO, I have experienced firsthand the favorable effect of on our organization’s financial operations.
Unified Worldwide Payroll Processing:
enables our company to process payroll effortlessly throughout numerous nations. The platform’s unified method allows for consistent payroll estimations, minimizing mistakes and ensuring compliance with local regulations. This has actually substantially mitigated the dangers associated with worldwide payroll processing.
likewise crucial for if in the future somebody says misclassification you have your file supported by the requisite files and that the right assessment tools to reveal somebody that you had a thoughtful process and so what do you need to include because procedure it’s the who the what the where and the when who are you handling are you handling an individual 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 contractor than an employee so for instance accounting
I.T engineering the creatives these all lend themselves more to that assessment of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they need to be on website and handled once again another key aspect is the management and guidance of the uh employee and then lastly when is it a specific project is it a six-month project 6 years all of this is workable however it has 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’ve enhanced it this year so that we can roll it out globally these tools take a questionnaire list for the employee the employee fills out and fills these questions out and so does the end customer or the recipient of the services they both put their info into the tool and after that it does an assessment waiting the various concerns because not every jurisdiction has the very same feeling about some of these concerns some believe they’re more vital than others and it comes out with a red yellow or green red you’re probably a worker yellow you’re on the cusp we can most likely assist you with that in terms of a few of the things you need to bolster to make sure that you are given that examination of uh independent specialist or green where you were assessed as an as a independent professional once that assessment is done all the requisite files are below it so that if later on there
Navigating the intricacies of global work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our company up-to-date with changes in policies throughout jurisdictions. This ensures that our payroll processes comply with the latest requirements, reducing the risk of non-compliance and associated charges.
Papaya Global Tiger and Time Cost Savings:
The software application’s automation abilities have considerably decreased the time and effort needed for payroll processing. Handbook data entry and repetitive tasks have actually been reduced, enabling our finance group to concentrate on strategic efforts rather than administrative problems. This has led to increased efficiency and productivity within our financial operations.
in one because each state has its own regulations Californians are some of the most stringent an example is pay slips on a payslip in California the best info has to be on the payslip in the right format and in the ideal position if you remain in breach of of policies for payslips the fines are released per payslip so that’s each staff member each pay slip will incur a great thanks Ray thank you Elizabeth a lot to worry to consider and we’re just 2 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 worldwide level it’s a completely various story you need to ensure that you depend on date with present in addition to pending local labor laws Steve um how do you make certain and ensure that the people 2.0 team is on top of an ever-changing landscape and that your clients are totally supported and I’ll organize this into three crucial things we carry out in first and foremost you need to have the right team so we employ a team of international experts in Employment Practices um that ex that group of experts consists of legal representatives it includes payroll professionals it consists of HR specialists and these are individuals that not only know the laws in these in these nations and areas however they also understand the languages they understand the local practices they know the cultures and it’s important to have that right group and really have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies extensive real-time analytics and reporting tools. As a CFO, having access to precise and timely financial information is essential for decision-making. The platform’s reporting capabilities empower me to make educated strategic choices based on real-time insights into our international payroll information.
application and its scope and the way that it applies to work law in practice can be evaluated through the judicial system by way of case law examples of that would be the gotten rights regulation otherwise called the 2p policies in the UK the working time regulations which has actually had numerous hairs of that legislation tested particularly around holiday pay and of course as Kathy’s going to come on to discuss later work status which there’s been multiple precedence set over the years so I think it’s truly that continuous development of the work law landscape that you truly require to browse when when working in Europe fine thank you Elizabeth Ray what about you from your personal experience while crossing the pond as mentioned each country has various guidelines but the United States is essentially 50 nations
Scalability for Organization Development:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and expand into brand-new markets, the software application flawlessly accommodates modifications in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the developing needs of our global organization.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Gander who is our senior vice president of client services and I would state individually and jointly these three individuals have Decades of experience in in work law and global Work Practices so thank you it’s a satisfaction to be with everybody here today seems like we have actually got the right people with us today and in in addition to to those well we likewise have among our own Stars erase share head of Global Services 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 4 and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 locations on an individual element and related to our subject today I have actually had the opportunity to relocate and work in 3 different nations it is the business’s obligation to ensure my security while residing in a foreign country compliance with regional laws and regulations is important for me or anyone else as an expat or as a regional so today we have actually welcomed our trusted Partners people 2.0 to demonstrate the value of local
proficiency when business Go Global thank you and enjoy alright thank you as I stated let’s proceed to the pact program today’s webinar is a chance to ask the panel the questions you have actually been thinking of we’ll talk about the truths a business requires to consider when opening a new entity and broadening into brand-new countries along with keeping things going we’ll cover elements such as local regulations factors to consider when hiring compliance essential difficulties payments and what not to do it is among the most essential things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a company grows the more they need to understand and handle knowing what to do in each new scenario as it rises is very important on many levels comprehending regional regulations and local laws in addition to company practices assists mitigate Associated and global growth papaya through our local professionals can browse potential dangers such as intellectual property security information personal privacy security problems guaranteeing the business’s operations stay compliant and safe tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has actually shown to be an indispensable property in our mission for efficient and certified international payroll management. As the CFO of a global business, I am confident in advising Papaya Global to organizations looking for to enhance their payroll processes, boost compliance, and achieve greater effectiveness in managing their global workforce. The software’s ingenious features and commitment to excellence align with our tactical objectives, making it an integral part of our monetary operations.
openly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly announced settlements there’s also considerable legal expenses there exists’s other penalties there’s other expenses behind that as well so the total expense can be really significant in the tens of countless dollars or more and and those quantities are growing uh the reason why business are getting it so incorrect is really just the rules are intricate and they’re altering all the time think ir-35 in the UK which has been an ongoing advancement for several years now and and still a lot of unpredictability among business on what it actually means and how you handle it most employers are merely not familiar with the guidelines and and act as if the the rules are the same all over which they’re not so so motivate you to to be really proactive as you’re engaging uh employees from a category perspective fine thank you Stephen and returning to yourself Ray it’s not just the company that suffers in the long run what effects can this have on the employee Papaya Global Tiger particularly when it concerns their own tax liabilities social security and advantages for instance jury and undoubtedly the workers the other side of the coin
I discover time and time again the workers often misclassified unknowingly 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 participated in this style the employee may owe taxes and Social Security to the authorities the future pension and healthcare privileges of the employee can be impacted and a number of times it can be years before this all falls out and by that time it’s far too late years have gone by they have not added to pensions Etc so it’s a huge effect that they never ever understood they were walking into you couldn’t agree with you more if you say the UK for instance hmrc can return as much as ten years um Kathy companies are taking out insurance coverage versus misclassification but generally premiums are only covering the expense of legal charges whilst the average claim evaluated versus employers relates to to 40 or 50 percent of the base salary of employee is there any point in securing insurance 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 have not seen it a minimum of 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 pack you could be denied coverage on the basis of the reality that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Tiger …
The comprehensive functions of come at an expense,
Over the past few decades, the labor force has gone through a substantial change with the development of remote work, which has actually removed geographical restraints on hiring. This has actually allowed services to recruit skill from all over the world, enabling them to put together the best possible team for each role. As a result, employees have acquired higher flexibility to work from home and increase their revenues without needing to move to costly locations or commute long distances. According to a 2022 survey, 87% of employees who have the option to work from another location pick to do so. The COVID-19 pandemic, integrated with developments in enterprise connectivity software application, has actually further sped up the shift towards remote work, even in industries that were at first hesitant to adopt the pattern.
insights are important to us and and your fellow guests so first things initially though um let’s be familiar with everybody my name is Ian Charles and I have actually operated in payroll for the last 25 years I’ve had functions in all type of Industries retail and Charm to Aerospace in all kinds of businesses start-up to matrixed environments across the globe I supplied management 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
Global I work throughout the business guy maning and developing external relationships supporting Enterprise clients and options and functioning as an advisor I want to introduce our first Greg um visitor Greg who will kick things off by informing 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 business counsil at bambo HR so I lead our in-house legal group and in fact work extremely closely with our um HR department as well to handle different legal and HR matters that turn up so truly excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our objective is to set you as HR specialists free to do fantastic
While Papaya Global offers combinations with various HR and finance systems, the implementation procedure was not without challenges. Integrating the software application with our existing infrastructure required additional personalization, resulting in some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Tiger 2024
and some smaller sized subsidiaries within our organization found the pricing to be on the higher side. As an international company, stabilizing the requirement for innovative functions with budget restraints became a delicate exercise.
Client Support Reaction Time:
There were circumstances where our teams faced issues that needed timely assistance. However, the action time from’s consumer assistance team was not always as quick as preferred, leading to occasional delays in issue resolution.
Our execution of included a phased method. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This enabled us to determine and deal with integration obstacles early on. As the software became more implanted in our operations, we slowly broadened its usage to cover our whole international workforce.
The automated features structured our payroll procedures, reducing the time spent on manual computations and compliance tracking. Routine training sessions and continuous support from Papaya helped our teams end up being competent users of the software, maximizing its capacity for our organization.
Companies that employee workers across multiple countries frequently deal with detailed obstacles when it comes to handling their workforce. Among the most significant hurdles is combining numerous data streams and adhering to diverse regional and nationwide labor regulations, which can be both time-consuming and pricey. Additionally, establishing regional entities in brand-new areas can be an expensive and suboptimal choice, with options such as opening a foreign subsidiary or hiring a professional employment organization (PEO) typically charging up to 15% of the payroll. These challenges have resulted in a significant boost in difficulty recruiting certified personnel, with 75% of companies reporting this concern in 2022, a 21% increase from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
provides an option supporting all types of employment. It offers an end-to-end platform, from staff member onboarding and continuous management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, uses management of work advantages, and ensures 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 professional in payroll and workforce management. She co-founded after seeing the innovation gap in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to attend the total webcast in order to receive your credits if you have any concerns during the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your internet browser with the webcast survey please be sure 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 presentation hey there and thank you for joining us today we’re enjoyed have you here as we embark on a journey of information to guideline attaining
360 degree staff member compliance where we’ll dive into the essential aspects of the worker compliance management model throughout the session we’ll check out real life challenges genuine regional policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to safeguard your company and employees while remaining certified in an
Ever developing regulative environment in the everchanging world of business and financing guaranteeing compliance with payroll regulations is not only crucial however likewise a legal important from the moment of employing to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance dangers that have significant repercussions nevertheless with a deeper more nuanced understanding of their obligations organizations can not just browse the detailed landscape however also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to browse the complex Terrain of compliance whether you’re a seasoned P specialist a small company owner or somebody new to the field what I wish to do before we start and I believe it’s truly essential
In our quest to boost effectiveness and precision in managing our international labor force, our international corporation turned to, a leading and workforce management software. The shift intended to streamline the complex job of managing throughout numerous countries, currencies, and compliance regulations.
One of the standout features of is its robust compliance management system. The software instantly updates itself to adhere to ever-evolving tax and labor laws across numerous jurisdictions. This has been indispensable in ensuring that our procedures stay compliant in each country of operation.
is to state that the material here is illegal recommendations it is simply for your information please consult your legal group must you have any questions or concerns in relation to anything that we’ve gone over today our key take essential takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to employ ly with confidence how to simplify data 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 handle that employee life cycle throughout their Journey with you as as a staff member in addition to a payroll module we have to assist you pay those workers and compensate them and benefits Administration module that allows you to help manage the advantages you provide to your employees so truly delighted to be here represent um bamb booy jar and talk about this topic um and I guess from my point of view I’ll I’ll most likely offer a lot of a focus on the United States side of things when we talk about type of compliance so happy to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and tell the audience a little bit about papay global yes absolutely thank you Ian hey there everybody 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 likewise serve as us Council for I’m accredited in New york city 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 supplier to employees serving in over.
160 countries okay thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were sort of like going through the intro so it’s truly really great to in fact see in the webinar chat where everyone’s actually attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you wish to continue tell where you are that would be definitely great whilst we simply wait for everybody else to type of like join in there we go Chicago also well um so whil we’re doing that I’m waiting for everybody to type of join I’ll just run us through the agenda um today we are going to talk about working with Skill brand-new greater Information Management termination compliance and automation wow the chat has actually got truly really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over which is great so uh I’m hoping that we’re actually going to have some really great commentary and concerns throughout the uh the webinar also okay 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 an employee and their information is Papaya Global Tiger complex without fail and an.
Ever progressing relationship that begins the moment an individual joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous essential phases whilst we’re actually you understand that they’re used with us so on boarding daily operations payment and benefits professional advancement then we get to the offboarding and even advocacy so it even takes place after the staff member has actually left your employment throughout the journey companies are accountable for gathering keeping securing worker data in compliance with information privacy regulations no matter where it is you’re running worldwide it typically includes carrying out safe information management systems and ensuring strict adherence to local requirements to secure both the worker and the company the advancement of employee data and management c.