A CFO’s Viewpoint on Payroll Papaya Global Inc…
Papaya Global’s platform improves international workforce management for business, guaranteeing compliance with local policies 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 broadened to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of global organization operations, handling payroll across borders can be a complex and tough job. As the Chief Financial Officer (CFO) of an international business, I understand the important value of efficient and certified payroll management. In our pursuit of excellence, we have actually accepted innovative solutions to streamline our procedures, and one such transformative tool is Software application.
The Difficulty of Global Payroll:
International growth causes varied challenges, and payroll management is no exception. Differing tax guidelines, varying employment laws, and several currencies make it essential for companies to embrace sophisticated solutions to guarantee accuracy, compliance, and efficiency in payroll processing.
Software: A Comprehensive Service:
staff members so it’s actually basic to guarantee that you’ve considered from the start any post-termination limitations that you wish to put into the agreement of work that they’re enforceable so that suggests you require to actually think about what it is you’re seeking to protect and why clearly Define what’s included within the scope of that secret information and deal with the duration of restriction post-determination that you want to apply and be really able to to justify that in relation to intellectual property the position truly depends upon the kind of intellectual property you’re aiming to safeguard and also the jurisdiction so for example from a copyright viewpoint in the Netherlands the end customer is more likely to have the um intellectual property rights in a copyright that the workers produced who’s been under their guidance and control instantly however in somewhere like Poland for instance that automatic right may not be there which project would need to stream through the chain uh contractually so it actually depends on the jurisdiction and the kind of IP alright thank you Elizabeth Steve was remaining on the topic of contracts Miss classified misclassifying employees
Papaya Global Software application has emerged as a game-changer in the world of global 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 actually experienced firsthand the favorable effect of on our company’s financial operations.
Unified International Payroll Processing:
enables our business to process payroll flawlessly across numerous nations. The platform’s unified technique enables consistent payroll computations, reducing mistakes and ensuring compliance with regional policies. This has significantly reduced the threats related to worldwide payroll processing.
likewise crucial for if later someone says misclassification you have your file supported by the requisite files which the best examination tools to show somebody that you had a thoughtful procedure and so what do you have to consist of because process it’s the who the what the where and the when who are you handling are you dealing with a private or are you handling an individual 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 contractor than a staff member so for example accounting
I.T engineering the creatives these all provide 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 handled once again another essential aspect is the management and supervision of the uh employee and then lastly when is it a specific job is it a six-month task 6 years all of this is workable but it has to be recorded and it needs to be completely um examined so we have a tool we call it ic2 we had an ic1 and we’ve improved it this year so that we can roll it out globally these tools take a questionnaire list for the employee the worker submits and fills these questions out and so does completion client or the recipient of the services they both put their information into the tool and then it does an evaluation waiting the various questions due to the fact that not every jurisdiction has the same feeling about a few of these concerns some believe they’re more crucial than others and it brings out a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can most likely assist you with that in terms of some of the things you need to reinforce to make sure that you are given that examination of uh independent contractor or green where you were evaluated as an as a independent contractor once that evaluation is done all the requisite documents are beneath it so that if later there
Browsing the complexities of international work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization current with changes in regulations throughout jurisdictions. This ensures that our payroll procedures abide by the current standards, lessening the risk of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal firms who assist us keep our databases completely as much as date and we also get in touch with we need to when we see an unusual or or particularly complex situations fine thanks Steve I can just see a fast 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 employer of record is managed differently around the world and the German law for instance it’s classified as worker leasing can you shed any light on a few of the special considerations for nations and where the eor model isn’t managed yes Ian employee leasing or labor leasing as it’s also called which is prevalent in a number of nations especially in Europe enforces rigorous policies on products such as the length of task it likewise designates workers to collective bargaining agreements that provides rights and advantages however even in the nations that don’t have those strict policies for instance the UK Canada and the nordics there are policies for each nation and each worker is dealt with the like all the other workers in that nation and all those policies require to be complied with all right thank you Ray um Kathy moving I would say to yourself what do companies need to consider when figuring out agreement status to safeguard themselves and the rights of hires what are the advantages and disadvantages of working with specialists and Freelancers versus long-term workers so obviously the the advantage of professionals versus staff members is the the flexibility for both the worker and for the company um however I can’t stress enough how essential it is to have a consistent comprehensive and a well-documented compliance
Payroll Papaya Global Inc and Time Savings:
The software’s automation abilities have significantly lowered the time and effort required for payroll processing. Handbook data entry and recurring jobs have actually been decreased, allowing our finance team to concentrate on tactical initiatives instead of administrative burdens. This has led to increased effectiveness and productivity within our monetary operations.
in one because each state has its own regulations Californians are some of the most strict an example is pay slips on a payslip in California the right info needs 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 issued per payslip so that’s each employee each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to fret to think about and we’re only two concerns in and 10 minutes or two hiring in one nation is tough enough but when working with in a you understand on a global level it’s a completely different story you need to make certain that you depend on date with existing along with pending local labor laws Steve um how do you ensure and make sure that individuals 2.0 team is on top of an ever-changing landscape which your customers are fully supported and I’ll arrange this into 3 essential things we carry out in primarily you need to have the ideal team so we work with a group of global specialists in Employment Practices um that ex that group of experts consists of attorneys it consists of payroll specialists it includes HR experts and these are individuals that not only understand the laws in these in these nations and regions but they likewise know the languages they understand the local practices they understand the cultures and it is necessary to have that best team and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides thorough real-time analytics and reporting tools. As a CFO, having access to precise and timely monetary information is important for decision-making. The platform’s reporting capabilities empower me to make educated tactical decisions based upon real-time insights into our worldwide payroll data.
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 gotten rights directive otherwise called the 2p guidelines in the UK the working time guidelines which has had various hairs of that legislation tested especially around holiday pay and naturally as Kathy’s going to come on to speak about later work status which there’s been multiple precedence set over the years so I think it’s actually that constant evolution of the employment law landscape that you really require to browse when when working in Europe okay thank you Elizabeth Ray what about you from your individual experience while moving across the pond as mentioned each country has different regulations however the United States is basically 50 nations
Scalability for Service Development:
Among the standout functions of Papaya Global is its scalability. As our business continues to grow and broaden into new markets, the software application flawlessly accommodates modifications in our workforce and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the evolving requirements of our international organization.
Global Chief legal officer we have actually got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Look who is our senior vice president of customer service and I would say individually and jointly these 3 individuals have Decades of experience in in work law and global Employment Practices so thank you it’s a pleasure 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 one of our own Stars delete share head of Global Solutions at papaya Worldwide inform us about yourself thank you Elin Ian hi my name is Elite I have actually been with the business for around four and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 places on a personal aspect and related to our subject today I’ve had the chance to move and work in 3 various nations it is the company’s obligation to guarantee my security while residing in a foreign nation compliance with regional laws and guidelines is crucial for me or anybody else as an expat or as a local so today we have invited our relied on Partners people 2.0 to show the value of regional
competence when business Go International thank you and delight in fine thank you as I said let’s carry on to the pact program today’s webinar is an opportunity to ask the panel the questions you have actually been thinking of we’ll talk about the truths a company requires to consider when opening a brand-new entity and broadening into brand-new nations along with keeping things going we’ll cover elements such as regional regulations factors to consider when hiring compliance crucial 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 company grows the more they need to understand and manage knowing what to do in each new circumstance as it rises is very important on many levels understanding local guidelines and local laws as well as company practices helps alleviate Associated and international expansion papaya through our local specialists can navigate possible dangers such as intellectual property defense information privacy security concerns guaranteeing the business’s operations stay compliant and protected tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually shown to be an invaluable asset in our mission for efficient and certified international payroll management. As the CFO of an international business, I am confident in suggesting Papaya Global to organizations looking for to improve their payroll processes, boost compliance, and attain greater performance in managing their international labor force. The software’s ingenious features and commitment to excellence align with our tactical goals, making it an essential 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 publicly revealed settlements there’s also significant legal costs there’s there’s other penalties there’s other expenses behind that also so the overall cost can be very significant in the tens of countless dollars or more and and those quantities are growing uh the reason companies are getting it so incorrect is actually just the guidelines are intricate and they’re altering all the time believe ir-35 in the UK which has actually been a continuous development for several years now and and still a lot of uncertainty among companies on what it truly suggests and how you handle it most employers are merely not familiar with 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 extremely proactive as you’re engaging uh workers from a classification point of view fine 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 worker Payroll Papaya Global Inc specifically when it pertains to their own tax liabilities social security and advantages for example jury and clearly the workers the opposite of the coin
I find time and time again the employees often misclassified unwittingly they don’t comprehend the conditions of work or contract and are informed by the customer why it’s optimum generally to the client why you ought to be utilized or participated in this style the employee may owe taxes and Social Security to the authorities the future pension and healthcare benefits of the worker can be affected and several times it can be years before this all falls out and by that time it’s far too late years have actually passed they haven’t contributed to pensions Etc so it’s a huge effect that they never understood they were walking 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 taking out insurance coverage against misclassification however usually premiums are only covering the expense of legal charges whilst the typical claim examined against companies relates to to 40 or half of the base salary of employee is there any point in securing insurance coverage and what is the alternative yeah to your point um you do require to check out the fine 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 area that I do believe if you managed to get the coverage what we are stating is is that if your compliance program is not up to pack you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Payroll Papaya Global Inc …
The thorough features of come at a cost,
Current decades have actually seen a dramatic modification to the workforce as the increase of remote work has actually broken down geographical barriers to hiring. Organizations can now work with personnel from anywhere worldwide, enabling them to access the very best available talent for any provided role. This provides workers more liberty to work from home and increase their earnings without moving to expensive areas or travelling cross countries. A 2022 study found that 87% of employees who have the chance to work remotely take that chance. The break out of COVID-19, in conjunction with new enterprise connectivity software application, sped up the move to remote work, including in industries previously hesitant to embrace the pattern.
insights are valuable to us and and your fellow guests so first things first though um let’s learn more about everybody my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had functions in all kind of Industries retail and Beauty to Aerospace in all types of organizations start-up to matrixed environments around the world I offered leadership and strategy to populations of more than 100,000 workers on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout business man maning and constructing external relationships supporting Business clients and solutions and serving as an advisor I ‘d like to present our 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 stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal group and actually work very closely with our um HR department also to handle various legal and HR matters that turn up so really thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our objective is to set you as HR professionals totally free to do fantastic
Although Papaya Global offers integrations with numerous HR and finance systems, we experienced some obstacles throughout the integration process. Personalizing the software application to line up with our existing facilities showed to be more intricate than expected, leading to delays in the preliminary rollout.
The comprehensive functions provided by Papaya Global come at an expense, which a few of our smaller sized subsidiaries discovered to be prohibitively pricey. As an international organization, we had to thoroughly weigh the need for sophisticated functionality against spending plan constraints.
Support Response Time:
On occasion, our teams experienced concerns that needed immediate support. However, the action time from Papaya Global’s consumer support group was not always as timely as we would have liked, resulting in hold-ups in solving those issues.
Our application of involved a phased method. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This enabled us to recognize and deal with combination challenges early on. As the software ended up being more ingrained in our operations, we gradually expanded its use to cover our whole worldwide workforce.
The automated features streamlined our payroll procedures, decreasing the time spent on manual calculations and compliance tracking. Regular training sessions and ongoing assistance from Papaya assisted our teams end up being proficient users of the software, optimizing its potential for our organization.
Nevertheless, paying a labor force can be intricate. It is particularly challenging for companies who employ staff throughout numerous nations, as they must constantly consolidate different information streams, by hand track local and nationwide labor and guidelines, and spend important time and resources to establish local entities in new locations. These business are faced with suboptimal, expensive options, like opening a foreign subsidiary or employing a professional employment organization, which is a local company that hires workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported problem hiring certified personnel, an increase of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers an option supporting all types of work. It offers an end-to-end platform, from employee onboarding and continuous management to worldwide payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, offers management of employment advantages, and makes sure information privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading professional in payroll and labor force 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 sure to attend the complete webcast in order to receive your credits if you have any questions during the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your browser with the webcast study please be sure to finish it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hey there and thank you for joining us today we’re thrilled to have you here as we embark on a journey of information to regulation accomplishing
360 degree employee compliance where we’ll dive into the essential elements of the staff member compliance management design throughout the session we’ll explore real world difficulties real regional policies finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to protect your company and workers while staying compliant in an
Ever evolving regulatory environment in the everchanging world of company and financing making sure compliance with payroll regulations is not only crucial but likewise a legal imperative from the minute of hiring to the in intri intricacies even sorry of termination every step along the employee journey is Frau with compliance dangers that have significant repercussions however with a much deeper more nuanced understanding of their responsibilities organizations can not just navigate the complex landscape but also proactively ensure this 360 degree compliance the webinar is created to equip you with the knowledge and tools essential to navigate the complex Terrain of compliance whether you’re an experienced P professional a small business owner or somebody new to the field what I wish to do before we begin and I believe it’s actually important
In our quest to improve effectiveness 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 task of managing across numerous countries, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software application instantly updates itself to comply with ever-evolving tax and labor laws across several jurisdictions. This has actually been invaluable in ensuring that our processes remain compliant in each nation of operation.
is to state that the content here is illegal advice it is merely for your info please consult your legal group must you have any concerns or concerns in relation to anything that we’ve discussed today our key take crucial takeaways by the end of the webinar will be an understanding of worker compliance dangers how to employ ly with self-confidence how to streamline information management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we have actually.
function as your hris or is sort of your core worker record um to manage that employee life process throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those workers and compensate them and advantages Administration module that permits you to help handle the advantages you supply to your employees so really excited to be here represent um bamb booy container and talk about this subject um and I think from my point of view I’ll I’ll most likely offer a lot of a concentrate on the US side of things when we speak about type of compliance so delighted to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a little bit about papay global yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Work professional manager.
at I manage the employment Council in the United States APAC EMA and Israel region I also work as us Council for I’m certified in New york city and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and workforce management as a Service work force company to workers serving in over.
160 countries all right thank you so both I feel totally underqualified sitting here with you both well I forgot to mention as we were kind of like going through the intro so it’s truly actually great to in fact see in the webinar chat where everybody’s in fact going to from today I can see that we have people in Las Vegas and Indiana already so if you want to continue tell where you are that would be definitely fantastic whilst we simply wait for everyone else to kind of like join in there we go Chicago also well um so whil we’re doing that I’m waiting for everybody to kind of join I’ll simply run us through the agenda um today we are going to discuss employing Talent brand-new greater Info Management termination compliance and automation wow the chat has got really actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is wonderful so uh I’m hoping that we’re in fact going to have some truly great commentary and concerns throughout the uh the webinar as well all right so that’s the program then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of an employee and their data is Payroll Papaya Global Inc diverse without fail and an.
Ever evolving relationship that begins the moment a person signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to several essential stages whilst we’re actually you understand that they’re used with us so on boarding everyday operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the staff member has left your work throughout the journey organizations are accountable for collecting saving protecting worker information in compliance with information privacy guidelines no matter where it is you’re operating worldwide it typically includes implementing protected information management systems and ensuring rigorous adherence to local requirements to protect both the employee and the company the evolution of staff member data and management c.