A CFO’s Point of view on Webroot Papaya Global…
Papaya Global’s platform improves worldwide labor force management for business, making sure compliance with regional regulations and tax laws. Their services encompass payroll processing, benefits administration, compliance oversight, time and attendance tracking, and HR support. The platform centralizes worldwide payroll operations, providing businesses with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of worldwide business operations, handling payroll throughout borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of a global company, I understand the crucial significance of effective and compliant payroll management. In our pursuit of quality, we have actually embraced ingenious options to improve our procedures, and one such transformative tool is Software.
The Difficulty of Global Payroll:
International expansion brings about diverse difficulties, and payroll management is no exception. Differing tax regulations, differing employment laws, and several currencies make it vital for organizations to adopt advanced solutions to ensure precision, compliance, and efficiency in payroll processing.
Software: A Comprehensive Solution:
employees so it’s truly fundamental to ensure that you’ve considered from the outset any post-termination limitations that you wish to take into the contract of work that they’re enforceable so that suggests you require to truly think of what it is you’re wanting to secure and why clearly Specify what’s consisted of within the scope of that confidential information and address the period of restriction post-determination that you wish to apply and be truly able to to validate that in relation to intellectual property the position actually depends upon the kind of intellectual property you’re looking to secure and also the jurisdiction so for instance from a copyright point of view in the Netherlands completion customer is most likely to have the um copyright rights in a copyright that the workers produced who’s been under their supervision and control instantly nevertheless in someplace like Poland for instance that automated right may not exist and that assignment would need to flow through the chain uh contractually so it truly depends upon the jurisdiction and the type of IP okay thank you Elizabeth Steve was remaining on the subject of agreements Miss categorized misclassifying workers
Papaya Global Software application has actually become 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, easy to use user interface. As the CFO, I have experienced firsthand the positive impact of on our organization’s financial operations.
Unified Worldwide Payroll Processing:
allows our company to procedure payroll perfectly across numerous countries. The platform’s unified approach enables constant payroll computations, reducing errors and guaranteeing compliance with regional policies. This has actually considerably reduced the threats connected with global payroll processing.
likewise crucial for if in the future somebody states misclassification you have your file supported by the requisite documents which the best evaluation tools to reveal somebody that you had a thoughtful procedure therefore what do you need to include because process it’s the who the what the where and the when who are you handling are you dealing with an individual or are you dealing with an individual 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 professional than an employee so for example accounting
I.T engineering the creatives these all provide themselves more to that examination of being freelancer you know also uh where are they doing it can they work from anywhere or do they have to be on site and handled again another essential aspect is the management and supervision of the uh worker and after that lastly when is it a specific job is it a six-month task 6 years all of this is manageable but it needs 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 have actually enhanced it this year so that we can roll it out globally these tools take a survey list for the worker the worker submits and fills these concerns out therefore does the end client or the recipient of the services they both put their details into the tool and after that it does an evaluation waiting the various concerns since not every jurisdiction has the same feeling about some of these questions some believe they’re more important than others and it brings out a red yellow or green red you’re probably an employee yellow you’re on the cusp we can most likely assist you with that in terms of some of the things you need to strengthen to make sure that you are given that assessment of uh independent professional or green where you were evaluated as an as a independent specialist once that evaluation is done all the requisite files are underneath it so that if later on there
Browsing the complexities of global employment laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization current with modifications in policies throughout jurisdictions. This guarantees that our payroll procedures abide by the most recent requirements, minimizing the risk of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal firms who assist us keep our databases completely approximately date and we also get in touch with we need to when we see an uncommon or or especially intricate situations fine thanks Steve I can simply see a quick question in the Q a window yes the session will be tape-recorded and sent out to guests afterwards um moving back to to the webinar itself Ray employer of record is regulated differently all over the world and the German law for instance it’s classified as staff member 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 worker leasing or labor leasing as it’s also called which is prevalent in several countries particularly in Europe enforces rigorous regulations on items such as the length of assignment it likewise assigns workers to collective bargaining agreements that provides rights and advantages but even in the nations that do not have those strict regulations for instance the UK Canada and the nordics there are policies for each nation and each worker is treated the like all the other employees because nation and all those regulations need to be followed all right thank you Ray um Kathy moving I would state to yourself what do companies need to factor in when determining agreement status to protect themselves and the rights of hires what are the benefits and drawbacks of working with professionals and Freelancers versus long-term staff members so undoubtedly the the advantage of professionals versus workers 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 constant thorough and a well-documented compliance
Webroot Papaya Global and Time Savings:
The software’s automation abilities have actually significantly decreased the time and effort needed for payroll processing. Handbook data entry and repeated jobs have been decreased, enabling our financing group to focus 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 guidelines Californians are a few of the most rigorous an example is pay slips on a payslip in California the best info has to be on the payslip in the best format and in the ideal position if you remain in breach of of guidelines for payslips the fines are provided 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 approximately hiring in one nation is tough enough but when employing in a you know on an international level it’s a totally different story you require to make sure that you depend on date with existing in addition to pending regional labor laws Steve um how do you make certain and ensure that individuals 2.0 team is on top of an ever-changing landscape which your clients are fully supported and I’ll organize this into three key things we carry out in most importantly you need to have the right team so we employ a group of worldwide specialists in Employment Practices um that ex that team of specialists includes legal representatives it includes payroll professionals it consists of HR professionals and these are people that not only understand the laws in these in these nations and areas but they likewise know the languages they understand the local practices they understand the cultures and it is essential to have that best group and really have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides thorough real-time analytics and reporting tools. As a CFO, having access to accurate and timely monetary data is essential for decision-making. The platform’s reporting capabilities empower me to make informed strategic choices based on real-time insights into our global payroll data.
The practical application and level of the application to work law can be evaluated through the legal system utilizing case law examples. For instance, the acquired rights instruction, also called the 2p guidelines in the UK, and the working time policies have undergone different legal interpretations, especially relating to holiday pay. Additionally, the principle of work status has seen multiple legal precedents over the
Scalability for Organization Development:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software effortlessly accommodates modifications in our labor force and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the evolving 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 Glimpse who is our senior vice president of customer service and I would state individually and jointly these three people have Decades of experience in in work law and international Employment Practices so thank you it’s a satisfaction 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 also have one of our own Stars erase share head of Global Services at papaya Global tell 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 actually developed Papaya’s network of in-country Partners in over 160 locations on an individual aspect and related to our subject today I have actually had the opportunity to relocate and work in three various nations it is the business’s responsibility to guarantee my protection while residing in a foreign nation compliance with local laws and regulations is vital for me or anyone else as an expat or as a regional so today we have welcomed our relied on Partners individuals 2.0 to show the significance of regional
proficiency when business Go International thank you and delight in alright 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 about we’ll talk about the facts a business requires to consider when opening a brand-new entity and expanding into brand-new nations along with keeping things going we’ll cover aspects such as regional guidelines considerations when working with compliance key obstacles payments and what not to do it’s one of the most crucial things remembering what not to do um operating on a global level is not for the faint-hearted the bigger a business grows the more they need to understand and manage understanding what to do in each new situation as it rises is essential on numerous levels comprehending local policies and regional laws along with service practices helps reduce Associated and worldwide expansion papaya through our local professionals can browse prospective risks such as intellectual property security information privacy security concerns ensuring the company’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 important possession in our quest for effective and compliant worldwide payroll management. As the CFO of an international company, I am confident in recommending Papaya Global to companies seeking to enhance their payroll processes, enhance compliance, and attain greater effectiveness in handling their global workforce. The software application’s innovative features and commitment to excellence align with our strategic objectives, making it an essential part of our monetary operations.
I find time and time again the workers frequently misclassified unknowingly they do not comprehend the conditions of work or contract and are told by the client why it’s most advantageous mainly to the customer why you ought to be utilized or taken part in this style the employee may owe taxes and Social Security to the authorities the future pension and healthcare privileges of the worker can be affected and numerous times it can be years before this all falls out and by that time it’s too late years have passed they haven’t added to pensions And so on so it’s a big impact that they never knew they were walking into you could not agree with you more if you say the UK for instance hmrc can return as much as 10 years um Kathy business are securing insurance versus misclassification however generally premiums are only covering the cost of legal costs whilst the typical claim assessed versus companies corresponds to to 40 or half of the base pay of employee is there any point in securing insurance coverage 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 penalty and interest most of the times I have not 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 stating is is that if your compliance program is not up to pack you could be rejected coverage on the basis of the fact that you were not in compliance with laws um in the UK
Expense Factors to consider and Webroot Papaya Global …
The detailed features of come at a cost,
Current years have seen a remarkable change to the labor force as the increase of remote work has broken down geographical barriers to hiring. Organizations can now employ personnel from anywhere worldwide, allowing them to access the very best available skill for any offered role. This offers employees more freedom to work from home and increase their income without moving to expensive locations or travelling cross countries. A 2022 survey found that 87% of workers who have the possibility to work from another location take that opportunity. The outbreak of COVID-19, in conjunction with brand-new enterprise connection software, 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 participants so first things initially though um let’s get to know 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 Beauty to Aerospace in all kinds of services start-up to matrixed environments around the world I supplied leadership and strategy to populations of more than 100,000 staff members on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work across the business male maning and building external relationships supporting Enterprise customers and services and functioning as an advisor I wish to introduce our very first Greg um visitor Greg who will kick things off by informing us um who he is and a 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 really carefully with our um HR department as well to manage different legal and HR matters that come up so really thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our mission is to set you as HR experts complimentary to do terrific
Although Papaya Global provides combinations with numerous HR and finance systems, we came across some hurdles during the integration procedure. Personalizing the software application to align with our existing facilities proved to be more complex than anticipated, leading to hold-ups in the preliminary rollout.
The extensive functions offered by Papaya Global come at an expense, which some of our smaller sized subsidiaries found to be excessively costly. As a worldwide company, we had to thoroughly weigh the requirement for advanced performance against budget restraints.
Assistance Reaction Time:
On occasion, our groups experienced issues that needed immediate help. However, the action time from Papaya Global’s customer support group was not constantly as prompt as we would have liked, leading to delays in resolving those problems.
Our implementation of involved a phased method. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This permitted us to determine and attend to combination challenges early on. As the software became more instilled in our operations, we gradually expanded its usage to cover our entire worldwide workforce.
The automated features structured our payroll processes, decreasing the time invested in manual computations and compliance tracking. Regular training sessions and continuous assistance from Papaya assisted our teams end up being skilled users of the software, optimizing its capacity for our company.
However, paying a labor force can be complex. It is especially challenging for companies who employ personnel across numerous countries, as they need to constantly combine different data streams, by hand track regional and national labor and policies, and spend important time and resources to establish local entities in new areas. These business are faced with suboptimal, pricey choices, like opening a foreign subsidiary or hiring an expert employment organization, which is a regional company that employs staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty recruiting certified workers, a boost of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers a solution supporting all forms of work. It offers an end-to-end platform, from employee onboarding and ongoing management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, offers management of work 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 professional in payroll and workforce management. She co-founded after seeing the technology space in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to go to the total 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 brand-new tab will open in your web browser with the webcast study please make certain 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 hey there and thank you for joining us today we’re enjoyed have you here as we start a journey of data to guideline attaining
360 degree worker compliance where we’ll dive into the essential elements of the staff member compliance management model throughout the session we’ll explore real world obstacles real regional policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to secure your company and employees while staying certified in an
Ever progressing regulative environment in the everchanging world of company and financing making sure compliance with payroll regulations is not only crucial however likewise a legal important from the moment of hiring to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance dangers that have far-reaching repercussions nevertheless with a much deeper more nuanced understanding of their obligations companies can not only browse the elaborate landscape however also proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools necessary to browse the complex Surface of compliance whether you’re an experienced P specialist a small company owner or somebody new to the field what I want to do before we begin and I think it’s really important
In our mission to improve effectiveness and accuracy in handling our worldwide labor force, our international corporation turned to, a leading and labor force management software application. The shift intended to streamline the complex job of managing throughout numerous countries, currencies, and compliance policies.
Among the standout functions of is its robust compliance management system. The software application immediately updates itself to adhere to ever-evolving tax and labor laws across numerous jurisdictions. This has been indispensable in guaranteeing that our procedures stay certified in each country of operation.
is to state that the material here is not legal guidance it is merely for your info please consult your legal team ought to you have any questions or issues in relation to anything that we have actually talked about today our key take key takeaways by the end of the webinar will be an understanding of employee compliance dangers how to employ ly with confidence how to streamline data management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we’ve.
serve as your hris or is type 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 help you pay those workers and compensate them and advantages Administration module that enables you to assist manage the advantages you provide to your staff members so actually delighted to be here represent um bamb booy container and speak about this subject um and I guess from my viewpoint I’ll I’ll probably supply a lot of a focus on the US side of things when we discuss kind of compliance so happy to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a little bit about papay worldwide yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Work professional supervisor.
at I handle the employment Council in the US APAC EMA and Israel area 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 supply payroll payments and workforce management as a Service work force provider to workers serving in over.
160 countries fine thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the intro so it’s actually actually nice to really see in the webinar chat where everybody’s in fact 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 absolutely wonderful whilst we just wait on everybody else to sort of like participate in there we go Chicago also well um so whil we’re doing that I’m awaiting everybody to kind of join I’ll just run us through the agenda um today we are going to discuss hiring Skill brand-new higher Info Management termination compliance and automation wow the chat has got truly actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is fantastic so uh I’m hoping that we’re in fact going to have some actually excellent commentary and concerns throughout the uh the webinar too all right so that’s the program then what I want to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their information is Webroot Papaya Global diverse without fail and an.
Ever developing relationship that starts the moment an individual signs up with a company it continues throughout their work and Beyond this journey can be divided into k to numerous essential phases whilst we’re in fact you understand that they’re utilized with us so on boarding day-to-day operations payment and benefits expert advancement then we get to the offboarding and even advocacy so it even happens after the staff member has actually left your employment throughout the journey companies are responsible for gathering saving securing employee data in compliance with information privacy policies no matter where it is you’re running worldwide it frequently involves executing secure information management systems and ensuring stringent adherence to regional requirements to safeguard both the staff member and the organization the advancement of worker data and management c.