A CFO’s Perspective on Papaya Global Videos…
Papaya Global’s platform enhances global workforce management for companies, ensuring compliance with local policies and tax laws. Their services incorporate payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes global payroll operations, offering organizations with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of international business operations, managing payroll across borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a global company, I understand the crucial value of effective and certified payroll management. In our pursuit of excellence, we have embraced ingenious options to streamline our processes, and one such transformative tool is Software.
The Challenge of Worldwide Payroll:
Global growth brings about diverse difficulties, and payroll management is no exception. Differing tax regulations, differing employment laws, and several currencies make it important for companies to embrace sophisticated services to ensure accuracy, compliance, and efficiency in payroll processing.
Software: A Comprehensive Solution:
It is essential to think about and include post-termination limitations in the employment agreement to ensure enforceability. You should carefully determine what you are looking for to secure and plainly specify the secret information that falls within its scope. Furthermore, specify the period of the post-termination restriction and be prepared to validate it in relation to intellectual property. The rules regarding intellectual property differ depending on the type of IP and the jurisdiction. For instance, in the Netherlands, completion client is most likely to have copyright rights over works produced by employees under their supervision, while in Poland, legal project may be needed.
Papaya Global Software has actually become a game-changer in the realm of international payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have experienced firsthand the favorable effect of on our company’s financial operations.
Unified Global Payroll Processing:
enables our business to procedure payroll effortlessly across numerous countries. The platform’s unified approach enables constant payroll calculations, lowering mistakes and guaranteeing compliance with local guidelines. This has actually considerably alleviated the dangers associated with international payroll processing.
also crucial for if later somebody says misclassification you have your file supported by the requisite files which the best assessment tools to reveal someone that you had a thoughtful process therefore what do you have to include in that process it’s the who the what the where and the when who are you handling are you handling an individual or are you handling an individual Service Corporation and how are they running what are they doing is it the kind of work that provides itself more to being an independent contractor than a staff member so for instance accounting
I.T engineering the creatives these all lend 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 have to be on site and handled again another essential element is the management and supervision of the uh employee and then lastly when is it a specific project is it a six-month job six years all of this is manageable however it has to be recorded and it has to be thoroughly um investigated 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 internationally these tools take a survey list for the employee the employee submits and fills these questions out and so does the end client or the recipient of the services they both put their information into the tool and after that it does an examination waiting the different concerns due to the fact that not every jurisdiction has the same sensation about a few of these questions some believe they’re more crucial 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 regards to a few of the things you require to strengthen to make certain that you are considered that assessment of uh independent specialist or green where you were examined as an as a independent contractor once that assessment is done all the requisite documents are underneath it so that if in the future there
Navigating the intricacies of worldwide work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization current with changes in guidelines throughout jurisdictions. This ensures that our payroll procedures comply with the current standards, lessening the risk of non-compliance and associated penalties.
Papaya Global Videos and Time Cost Savings:
The software application’s automation capabilities have actually substantially minimized the time and effort needed for payroll processing. Handbook data entry and repetitive jobs have been reduced, enabling our financing team to concentrate on strategic efforts instead of administrative problems. This has led to increased efficiency and productivity within our monetary operations.
in one since each state has its own regulations Californians are a few of the most strict an example is pay slips on a payslip in California the right information needs to be on the payslip in the right format and in the right position if you remain in breach of of policies for payslips the fines are released per payslip so that’s each worker each pay slip will incur a great thanks Ray thank you Elizabeth a lot to worry to consider and we’re only two concerns in and 10 minutes or two hiring in one country is difficult enough however when working with in a you understand on an international level it’s an entirely different story you need to make sure that you depend on date with present as well as pending regional labor laws Steve um how do you make certain and guarantee that individuals 2.0 team is on top of an ever-changing landscape which your customers are totally supported and I’ll arrange this into three key things we carry out in first and foremost you require to have the ideal team so we hire a team of worldwide specialists in Work Practices um that ex that team of professionals consists of lawyers it includes payroll specialists it includes HR professionals and these are individuals that not only know the laws in these in these nations and areas however they likewise know the languages they know the local practices they know the cultures and it’s important to have that best team and really have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and timely financial information is essential for decision-making. The platform’s reporting capabilities empower me to make educated strategic decisions 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 regulation otherwise referred to as the 2p guidelines in the UK the working time regulations which has actually had different hairs of that legislation tested especially around vacation pay and naturally as Kathy’s going to come on to speak about later employment status which there’s been multiple precedence set for many years so I think it’s really that continuous development of the work law landscape that you really need to navigate when when operating in Europe alright thank you Elizabeth Ray what about you from your individual experience while moving across the pond as mentioned each nation has different regulations but the United States is essentially 50 nations
Scalability for Organization Growth:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software application perfectly accommodates modifications in our labor force and payroll requirements. This scalability makes sure that our payroll facilities can adjust to the developing requirements of our international company.
Global Chief legal officer we’ve 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 jointly these three people have Decades of experience in in work law and global Employment Practices so thank you it’s a satisfaction to be with everybody here today seems like we’ve 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 International tell us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the company for around 4 and a half years as head of Partnerships I have developed Papaya’s network of in-country Partners in over 160 places on an individual element and related to our subject today I’ve had the opportunity to transfer and work in three different countries it is the business’s duty to ensure my defense while living in a foreign country compliance with regional laws and policies is vital for me or anybody else as an expat or as a regional so today we have actually welcomed our trusted Partners individuals 2.0 to show the importance of local
proficiency when companies Go Global 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 have actually been thinking of we’ll go over the truths a company requires to think about when opening a new entity and expanding into brand-new nations along with keeping things going we’ll cover elements such as regional guidelines considerations when hiring compliance key 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 business grows the more they require to comprehend and handle understanding what to do in each new circumstance as it rises is very important on many levels comprehending regional policies and local laws as well as company practices helps mitigate Associated and global expansion papaya through our local specialists can browse potential threats such as copyright security information privacy security concerns ensuring the business’s operations stay certified and safe tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software application has proven to be an indispensable possession in our quest for effective and compliant global payroll management. As the CFO of a global company, I am positive in suggesting Papaya Global to companies looking for to enhance their payroll procedures, enhance compliance, and achieve greater effectiveness in managing their global labor force. The software application’s innovative functions and dedication to quality line up with our strategic goals, making it an essential part of our monetary operations.
publicly announced 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 significant legal expenses there’s there’s other penalties there’s other expenses behind that also so the overall expense can be extremely considerable in the 10s of millions of dollars or more and and those amounts are growing uh the reason that business are getting it so incorrect is actually just the guidelines are complex and they’re changing all the time think ir-35 in the UK which has actually been an ongoing advancement for a number of years now and and still a great deal of uncertainty amongst companies on what it actually implies and how you deal with it most employers are just not aware of the guidelines and and act as if the the rules are the same everywhere which they’re not so so encourage you to to be very proactive as you’re engaging uh workers from a category point of view fine thank you Stephen and returning to yourself Ray it’s not only the company that suffers in the long run what impacts can this have on the worker Papaya Global Videos particularly when it pertains to their own tax liabilities social security and benefits for example jury and certainly the employees the opposite of the coin
I discover time and time again the employees often misclassified unknowingly they do not understand the conditions of employment or agreement and are told by the client why it’s optimum mainly to the client why you need to be used or participated in this style the employee may owe taxes and Social Security to the authorities the future pension and health care privileges of the employee can be affected and several times it can be years before this all falls out and by that time it’s too late years have actually gone by they haven’t contributed to pensions And so on so it’s a huge impact that they never understood they were walking into you couldn’t agree with you more if you state the UK for example hmrc can go back as much as 10 years um Kathy business are taking out insurance coverage against misclassification but generally premiums are only covering the cost of legal charges whilst the average claim examined against companies corresponds to to 40 or half of the base salary of worker exists any point in getting 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 for the most part I haven’t 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 saying is is that if your compliance program is not up to pack you could be rejected protection on the basis of the reality that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Videos …
The thorough functions of come at a cost,
Over the past couple of years, the workforce has actually undergone a substantial improvement with the emergence of remote work, which has actually removed geographical restraints on hiring. This has actually enabled businesses to hire talent from all over the world, allowing them to assemble the best possible group for each role. As a result, workers have actually gained greater flexibility to work from home and increase their incomes without having to transfer to pricey locations or commute long distances. According to a 2022 survey, 87% of workers who have the alternative to work remotely pick to do so. The COVID-19 pandemic, integrated with improvements in business connection software, has actually even more accelerated the shift towards remote work, even in industries that were initially reluctant to adopt the pattern.
insights are valuable to us and and your fellow attendees so first things initially though um let’s learn more about everybody my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had roles in all sort of Industries retail and Appeal to Aerospace in all types of businesses startup to matrixed environments across the globe I supplied management and strategy to populations of more than 100,000 staff members on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
International I work across business male maning and constructing external relationships supporting Enterprise customers and services and serving as a consultant I want to introduce our very first Greg um guest 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 stated my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal team and actually work extremely carefully with our um HR department too to manage 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 free to do great
While Papaya Global deals integrations with numerous HR and financing systems, the application procedure was not without obstacles. Integrating the software application with our existing infrastructure needed additional personalization, leading to some hold-ups in the initial rollout.
Paying FAQs Papaya Global Videos 2024
and some smaller subsidiaries within our company discovered the rates to be on the higher side. As an international business, balancing the need for sophisticated functions with budget plan restraints ended up being a delicate exercise.
Consumer Support Reaction Time:
There were instances where our groups dealt with problems that required prompt assistance. However, the response time from’s consumer support group was not constantly as quick as desired, resulting in periodic delays in problem resolution.
Our application of included a phased approach. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing processes. This permitted us to recognize and address integration challenges early on. As the software ended up being more implanted in our operations, we slowly broadened its use to cover our entire worldwide workforce.
The automated functions streamlined our payroll procedures, reducing the time spent on manual computations and compliance tracking. Routine training sessions and ongoing assistance from Papaya assisted our groups end up being proficient users of the software application, optimizing its potential for our company.
However, paying a workforce can be intricate. It is especially challenging for companies who employ staff across several countries, as they need to continuously consolidate different information streams, by hand track regional and nationwide labor and regulations, and invest valuable time and resources to set up local entities in 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 regional 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 forecasted to reach $50.4 billion by 2030.
offers a service supporting all kinds of employment. It supplies an end-to-end platform, from worker onboarding and ongoing management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, provides management of work benefits, and guarantees data 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 technology space in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to go to the complete webcast in order to receive your credits if you have any concerns throughout the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your browser with the webcast survey please be sure to finish it as quickly as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hey there and thank you for joining us today we’re thrilled to have you here as we embark on a journey of data to regulation accomplishing
360 degree employee compliance where we’ll dive into the necessary aspects of the staff member compliance management model throughout the session we’ll explore real world challenges genuine regional guidelines best practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to safeguard your organization and employees while remaining compliant in an
Ever evolving regulatory environment in the everchanging world of business and finance guaranteeing compliance with payroll regulations is not only essential however likewise a legal essential from the moment of employing to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance threats that have significant repercussions nevertheless with a deeper more nuanced understanding of their responsibilities companies can not only navigate the intricate landscape however likewise proactively ensure this 360 degree compliance the webinar is created to equip you with the knowledge and tools needed to navigate the complex Surface of compliance whether you’re a seasoned P expert a small company owner or somebody brand-new to the field what I want to do before we start and I believe it’s actually crucial
In our mission to boost performance and accuracy in handling our international workforce, our multinational corporation turned to, a leading and workforce management software application. The shift intended to simplify the complex job of handling across different countries, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software application instantly updates itself to follow ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been important in ensuring that our processes remain compliant in each nation of operation.
is to state that the content here is illegal guidance it is merely for your details please consult your legal group ought to you have any concerns or issues in relation to anything that we have actually gone over today our key take crucial takeaways by the end of the webinar will be an understanding of employee compliance dangers how to work with ly with 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 employee life cycle throughout their Journey with you as as a staff member in addition to a payroll module we need to assist you pay those workers and compensate them and advantages Administration module that enables you to help manage the benefits you provide to your employees so truly excited to be here represent um bamb booy container and speak about this topic um and I guess from my viewpoint I’ll I’ll most likely supply a great deal of a focus on the US side of things when we talk about sort of compliance so pleased to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay worldwide yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Employment professional manager.
at I handle the work Council in the United States APAC EMA and Israel region I also work as us Council for I’m licensed in New york city and New Jersey um we make sure 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 nations okay thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were type of like going through the introduction so it’s really truly good to actually see in the webinar chat where everyone’s actually going to from today I can see that we have people in Las Vegas and Indiana already so if you wish to carry on tell where you are that would be definitely wonderful whilst we simply await everybody 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 type of join I’ll simply run us through the agenda um today we are going to talk about employing Skill brand-new higher Info Management termination compliance and automation wow the chat has got actually really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is great so uh I’m hoping that we’re in fact going to have some actually terrific commentary and concerns throughout the uh the webinar also all right 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 data is Papaya Global Videos multifaceted without fail and an.
Ever progressing relationship that starts the moment an individual signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to several key phases whilst we’re really you know that they’re employed with us so on boarding daily operations compensation and advantages professional development then we get to the offboarding and even advocacy so it even occurs after the staff member has left your work throughout the journey companies are accountable for gathering keeping securing employee data in compliance with data personal privacy policies no matter where it is you’re operating all over the world it often includes implementing safe information management systems and making sure rigorous adherence to local requirements to safeguard both the staff member and the organization the development of worker data and management c.