A CFO’s Viewpoint on Papaya Global Webinar…
The platform allows companies to manage their international labor force and adhere to local work guidelines and tax laws. Papaya Global provides a variety of services, including payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is designed to streamline the intricacies of global payroll and supply real-time exposure and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the dynamic landscape of global organization operations, managing payroll across borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a global company, I comprehend the critical significance of efficient and compliant payroll management. In our pursuit of quality, we have actually embraced innovative services to enhance our procedures, and one such transformative tool is Software.
The Difficulty of International Payroll:
Worldwide expansion brings about varied challenges, and payroll management is no exception. Differing tax regulations, varying employment laws, and numerous currencies make it essential for organizations to embrace advanced services to ensure precision, compliance, and performance in payroll processing.
Software application: A Comprehensive Option:
It is essential to think about and consist of post-termination constraints in the employment agreement to guarantee enforceability. You need to thoroughly identify what you are looking for to safeguard and clearly define the confidential information that falls within its scope. Additionally, define the duration of the post-termination constraint and be prepared to justify it in relation to intellectual property. The rules concerning intellectual property vary depending upon the type of IP and the jurisdiction. For instance, in the Netherlands, completion client is likely to have copyright rights over works produced by employees under their supervision, while in Poland, legal assignment might be needed.
Papaya Global Software application has emerged as 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, easy to use user interface. As the CFO, I have seen firsthand the favorable effect of on our organization’s monetary operations.
Unified International Payroll Processing:
allows our business to process payroll flawlessly across numerous nations. The platform’s unified approach permits constant payroll estimations, reducing mistakes and guaranteeing compliance with local guidelines. This has actually considerably reduced the risks associated with global payroll processing.
also crucial for if later someone states misclassification you have your file supported by the requisite files which the ideal examination tools to reveal someone that you had a thoughtful procedure 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 a specific 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 an employee so for example accounting
I.T crafting the creatives these all provide themselves more to that evaluation of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they need to be on website and handled again another essential aspect is the management and guidance of the uh employee and after that lastly when is it a specific project is it a six-month task 6 years all of this is workable but it has to be documented and it has to be completely um examined so we have a tool we call it ic2 we had an ic1 and we have actually enhanced it this year so that we can roll it out internationally these tools take a questionnaire list for the worker the worker submits and fills these questions out therefore does completion customer or the recipient of the services they both put their details into the tool and after that it does an examination waiting the different concerns due to the fact that not every jurisdiction has the exact same sensation about a few of these concerns some believe they’re more important than others and it brings out a red yellow or green red you’re probably a staff member yellow you’re on the cusp we can probably help you with that in regards to a few of the important things you require to reinforce to make certain 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 in the future there
Browsing the intricacies of international employment laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our organization current with modifications in policies throughout jurisdictions. This ensures that our payroll procedures stick to the most recent standards, reducing the danger of non-compliance and associated charges.
Papaya Global Webinar and Time Cost Savings:
The software application’s automation abilities have actually significantly decreased the time and effort required for payroll processing. Handbook data entry and repeated jobs have actually been lessened, enabling our finance team to concentrate on tactical efforts instead of administrative problems. This has led to increased effectiveness and efficiency within our financial operations.
in one because each state has its own policies Californians are some 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 best format and in the right position if you’re in breach of of guidelines for payslips the fines are provided per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to fret to think about and we’re just two concerns in and 10 minutes or so employing in one nation is challenging enough but when working with in a you understand on an international level it’s a totally different story you require to ensure that you depend on date with current as well as pending regional labor laws Steve um how do you ensure and make sure that the people 2.0 group is on top of an ever-changing landscape and that your clients are fully supported and I’ll organize this into 3 key things we carry out in first and foremost you require to have the best team so we hire a team of global experts in Employment Practices um that ex that team of professionals includes attorneys it includes payroll specialists it consists of HR professionals and these are people that not only know the laws in these in these nations and regions but they likewise know the languages they know the local practices they understand the cultures and it is necessary to have that right team and really have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies detailed real-time analytics and reporting tools. As a CFO, having access to accurate and prompt financial information is important for decision-making. The platform’s reporting capabilities empower me to make informed tactical decisions based on real-time insights into our international payroll data.
application and its scope and the manner in which it applies to work law in practice can be tested through the judicial system by way of case law examples of that would be the acquired rights regulation otherwise called the 2p policies in the UK the working time guidelines which has actually had various strands of that legislation evaluated especially around holiday pay and of course as Kathy’s going to come on to discuss later on work status which there’s been multiple precedence set over the years so I think it’s really that continuous development of the work law landscape that you really require to browse when when operating in Europe fine thank you Elizabeth Ray what about you from your personal experience while crossing the pond as pointed out each nation has different policies however the United States is basically 50 countries
Scalability for Organization Development:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software seamlessly accommodates modifications in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the evolving requirements of our worldwide company.
Global Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Gander who is our senior vice president of client services and I would say separately and collectively these 3 individuals have Years of experience in in employment law and worldwide Work Practices so thank you it’s an enjoyment to be with everyone here today seems 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 Global inform us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the business for around four and a half years as head of Collaborations I have actually established 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 chance to move and operate in three various nations it is the company’s duty to ensure my protection while residing in a foreign nation compliance with regional laws and regulations is essential for me or anyone else as an expat or as a local so today we have welcomed our trusted Partners people 2.0 to show the significance of local
competence when companies Go International thank you and delight in fine thank you as I stated let’s carry on to the pact program today’s webinar is a chance to ask the panel the questions you’ve been considering we’ll talk about the facts a business requires to consider when opening a new entity and expanding into brand-new countries along with keeping things going we’ll cover elements such as regional regulations factors to consider when employing compliance essential challenges payments and what not to do it’s one of the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the bigger a business grows the more they require to comprehend and handle knowing what to do in each new situation as it rises is important on many levels comprehending regional regulations and local laws as well as business practices assists reduce Associated and global expansion papaya through our local professionals can browse prospective dangers such as intellectual property protection data personal privacy security concerns making sure the business’s operations stay compliant and safe and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has proven to be a vital asset in our quest for effective and compliant global payroll management. As the CFO of a worldwide business, I am positive in recommending Papaya Global to companies looking for to streamline their payroll processes, enhance compliance, and attain greater effectiveness in handling their global labor force. The software application’s innovative functions and commitment to quality align with our strategic objectives, making it an essential part of our financial operations.
I find time and time again the workers frequently misclassified unknowingly they don’t comprehend the conditions of work or agreement and are informed by the client why it’s optimum generally to the customer why you ought to be used or participated in this fashion the worker may owe taxes and Social Security to the authorities the future pension and health care advantages 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 far too late years have passed they have not added to pensions And so on so it’s a big effect that they never understood they were strolling into you couldn’t agree with you more if you say the UK for example hmrc can go back as much as ten years um Kathy companies are securing insurance versus misclassification but normally premiums are just covering the expense of legal charges whilst the average claim evaluated versus employers corresponds to to 40 or half of the base salary of employee exists any point in getting insurance and what is the alternative yeah to your point um you do need to check out the fine print it is not covering the taxes charge and interest in most cases I haven’t seen it a minimum of so uh the the other area that I do think if you managed to get the coverage what we are saying is is that if your compliance program is not up to pack you could be rejected protection 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 Webinar …
The thorough features of come at an expense,
Recent decades have actually seen a remarkable change to the workforce as the rise of remote work has actually broken down geographical barriers to employing. Businesses can now work with personnel from anywhere worldwide, enabling them to access the very best readily available skill for any offered function. This provides employees more liberty to work from home and increase their income without transferring to costly locations or commuting cross countries. A 2022 survey discovered that 87% of staff members who have the possibility to work remotely take that chance. The outbreak of COVID-19, in conjunction with new business connectivity software application, accelerated the relocate to remote work, including in industries previously hesitant to accept the pattern.
insights are important to us and and your fellow attendees so first things first though um let’s be familiar with everybody my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had functions in all sort of Industries retail and Charm to Aerospace in all types of companies startup to matrixed environments across the globe I provided leadership and technique to populations of more than 100,000 workers on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
International I work across business guy maning and constructing external relationships supporting Business customers and services and functioning as an advisor I wish to introduce our very first Greg um guest 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 said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal group and really work very carefully with our um HR department too to manage different legal and HR matters that show up so actually delighted to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we say our mission is to set you as HR specialists free to do great
Although Papaya Global offers combinations with various HR and finance systems, we came across some obstacles during the integration procedure. Tailoring the software application to line up with our existing infrastructure showed to be more complex than expected, leading to delays in the initial rollout.
The extensive features used by Papaya Global come at a cost, which some of our smaller sized subsidiaries discovered to be prohibitively costly. As a global company, we needed to thoroughly weigh the need for sophisticated performance against budget restraints.
Support Action Time:
On occasion, our teams experienced concerns that needed immediate assistance. Nevertheless, the action time from Papaya Global’s consumer assistance group was not constantly as prompt as we would have liked, leading to hold-ups in resolving those concerns.
Our application of included a phased approach. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This allowed us to recognize and attend to combination obstacles early on. As the software ended up being more instilled in our operations, we slowly broadened its use to cover our entire global workforce.
The automated features streamlined our payroll procedures, lowering the time invested in manual calculations and compliance tracking. Routine training sessions and ongoing assistance from Papaya assisted our teams end up being skilled users of the software, maximizing its capacity for our organization.
Nevertheless, paying a workforce can be complicated. It is especially challenging for companies who employ personnel across multiple nations, as they must continuously consolidate various data streams, by hand track local and national labor and regulations, and spend important time and resources to set up local entities in new locations. These business are faced with suboptimal, costly choices, like opening a foreign subsidiary or working with a professional employment company, which is a regional firm that hires employees on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty hiring qualified personnel, a boost 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.
uses a solution supporting all forms of work. It offers an end-to-end platform, from staff member onboarding and continuous management to international payments and. It helps business with labor law compliance in the jurisdictions in which they run, provides management of employment benefits, and guarantees information 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 gap in global.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to go to the complete webcast in order to receive your credits if you have any questions throughout 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 internet browser with the webcast study please be sure to complete it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hello and thank you for joining us today we’re thrilled to have you here as we start a journey of information to policy attaining
360 degree staff member compliance where we’ll dive into the necessary aspects of the worker compliance management design throughout the session we’ll explore real life obstacles genuine 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 organization and workers while remaining certified in an
Ever developing regulatory environment in the everchanging world of organization and financing making sure compliance with payroll policies is not only essential however also a legal necessary from the minute of employing to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance threats that have far-reaching effects however with a deeper more nuanced understanding of their responsibilities companies can not just navigate the intricate landscape however likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the understanding and tools needed to navigate the complex Surface of compliance whether you’re a skilled P expert a small company owner or someone brand-new to the field what I wish to do before we begin and I think it’s really important
In our mission to enhance performance and precision in handling our international labor force, our international corporation turned to, a leading and workforce management software application. The transition aimed 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 automatically updates itself to stick to ever-evolving tax and labor laws across multiple jurisdictions. This has been vital in guaranteeing that our processes remain compliant in each country of operation.
is to state that the content here is illegal advice it is just for your information please consult your legal group needs to you have any concerns or issues in relation to anything that we have actually gone over today our secret take key takeaways by the end of the webinar will be an understanding of worker compliance risks how to hire ly with self-confidence how to simplify information management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
act as your hris or is kind of your core staff member record um to handle that staff member life process throughout their Journey with you as as a worker in addition to a payroll module we need to assist you pay those staff members and compensate them and benefits Administration module that enables you to help manage the benefits you provide to your workers so really excited to be here represent um bamb booy container and speak about this subject um and I guess from my point of view I’ll I’ll most likely supply a great deal of a focus on the United States side of things when we speak about type of compliance so delighted to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to present yourself and tell the audience a little bit about papay international yes absolutely thank you Ian hey there everyone I’m Gina dorelis I’m the Work expert supervisor.
at I handle the employment Council in the US APAC EMA and Israel area I likewise serve as us Council for I’m accredited in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service work force supplier to employees serving in over.
160 countries alright thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were kind of like going through the introduction so it’s actually truly nice to really see in the webinar chat where everybody’s in fact participating in from today I can see that we have people in Las Vegas and Indiana already so if you want to carry on tell where you are that would be definitely fantastic whilst we just wait on everybody else to sort of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting for everybody to kind of join I’ll just run us through the program um today we are going to talk about working with Talent new higher Information 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 originating from absolutely all over which is wonderful so uh I’m hoping that we’re in fact going to have some truly great commentary and questions throughout the uh the webinar too alright so that’s the agenda then what I want to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their data is Papaya Global Webinar multifaceted without fail and an.
Ever progressing 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 really you understand that they’re utilized with us so on boarding day-to-day operations payment and advantages professional development then we get to the offboarding and even advocacy so it even takes place after the employee has actually left your work throughout the journey organizations are accountable for gathering storing safeguarding worker information in compliance with data privacy policies no matter where it is you’re operating worldwide it often involves carrying out safe information management systems and guaranteeing rigorous adherence to regional requirements to secure both the employee and the organization the advancement of worker data and management c.