A CFO’s Point of view on Papaya Global Courses Leicester…
The platform enables business to manage their worldwide labor force and abide by regional employment guidelines and tax laws. Papaya Global provides a range of services, including payroll management, advantages administration, compliance management, time and participation tracking, and HR management. The platform is designed to streamline the intricacies of global payroll and supply real-time presence and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New York, London, and Kiev.
In the vibrant landscape of global company operations, handling payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of an international company, I understand the critical significance of efficient and certified payroll management. In our pursuit of quality, we have accepted innovative solutions to enhance our procedures, and one such transformative tool is Software.
The Difficulty of Global Payroll:
Global growth causes varied challenges, and payroll management is no exception. Differing tax policies, differing work laws, and several currencies make it crucial for organizations to adopt sophisticated solutions to guarantee accuracy, compliance, and performance in payroll processing.
Software: A Comprehensive Service:
staff members so it’s truly fundamental to make sure that you have actually thought about from the outset any post-termination constraints that you wish to put into the agreement of employment that they’re enforceable so that implies you need to truly consider what it is you’re seeking to protect and why clearly Specify what’s included within the scope of that confidential information and resolve the duration of constraint post-determination that you want 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 safeguard and likewise the jurisdiction so for instance from a copyright point of view in the Netherlands the end customer is more likely to have the um intellectual property rights in a copyright that the employees produced who’s been under their guidance and control immediately however in someplace like Poland for instance that automatic right might not exist and that task would need to stream through the chain uh contractually so it actually depends on the jurisdiction and the type of IP fine thank you Elizabeth Steve was remaining on the topic of agreements Miss categorized misclassifying workers
Papaya Global Software application has actually become a game-changer in the realm of worldwide payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, user-friendly interface. As the CFO, I have seen firsthand the favorable effect of on our company’s monetary operations.
Unified Worldwide Payroll Processing:
allows our business to process payroll effortlessly across multiple nations. The platform’s unified approach allows for constant payroll estimations, reducing mistakes and making sure compliance with regional regulations. This has actually considerably alleviated the threats related to international payroll processing.
likewise crucial for if later on someone says misclassification you have your file supported by the requisite files and that the ideal evaluation tools to reveal 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 dealing with are you dealing with a specific 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 crafting 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 need to be on site and handled again another crucial aspect is the management and supervision of the uh worker and then lastly when is it a specific task is it a six-month task 6 years all of this is manageable but it needs 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 have actually enhanced it this year so that we can roll it out internationally these tools take a questionnaire list for the employee the worker submits and fills these questions out and so does the end customer or the recipient of the services they both put their information into the tool and then it does an assessment waiting the various questions because not every jurisdiction has the same feeling about a few of these questions some believe they’re more important than others and it brings out a red yellow or green red you’re probably a worker yellow you’re on the cusp we can most likely assist you with that in terms of some of the things you need to reinforce to ensure that you are given that examination of uh independent contractor or green where you were examined as an as a independent professional once that examination is done all the requisite files are below it so that if in the future there
Browsing the intricacies of worldwide employment laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization current with changes in policies across jurisdictions. This ensures that our payroll procedures stick to the current requirements, reducing the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal companies who assist us keep our databases completely as much as date and we also contact we require to when we see an uncommon or or particularly complex scenarios fine thanks Steve I can just see a fast question in the Q a window yes the session will be taped and sent out to attendees later on um moving back to to the webinar itself Ray company of record is controlled differently around the world and the German law for instance it’s classed as employee leasing can you shed any light on some of the unique factors to consider for countries and where the eor design isn’t controlled yes Ian worker leasing or labor leasing as it’s likewise called which prevails in numerous nations particularly in Europe enforces strict guidelines on products such as the length of assignment it likewise appoints employees to collective bargaining agreements that provides rights and advantages but even in the countries that don’t have those rigorous policies for example the UK Canada and the nordics there are regulations for each nation and each worker is treated the same as all the other employees in that country and all those guidelines need to be followed okay thank you Ray um Kathy moving I would state to yourself what do companies need to factor in when figuring out contract status to safeguard themselves and the rights of hires what are the advantages and disadvantages of employing contractors and Freelancers versus permanent staff members so certainly the the benefit of specialists versus workers is the the flexibility for both the worker and for the employer um but I can’t stress enough how essential it is to have a consistent extensive and a well-documented compliance
Papaya Global Courses Leicester and Time Cost Savings:
The software’s automation abilities have substantially lowered the time and effort needed for payroll processing. Handbook data entry and repeated tasks have been reduced, enabling our finance group to concentrate on tactical initiatives rather than administrative burdens. This has actually led to increased effectiveness and efficiency within our financial operations.
in one considering that 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 right details has to be on the payslip in the right format and in the ideal position if you’re in breach of of guidelines for payslips the fines are provided per payslip so that’s each worker each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to fret to think about and we’re just 2 questions in and 10 minutes approximately working with in one country is challenging enough but when employing in a you know on an international level it’s an entirely different story you require to make certain that you depend on date with current in addition to pending regional labor laws Steve um how do you make certain and ensure that the people 2.0 team is on top of an ever-changing landscape and that your clients are completely supported and I’ll arrange this into three essential things we do in first and foremost you require to have the right group so we hire a team of worldwide experts in Employment Practices um that ex that group of professionals includes lawyers it consists of payroll experts it consists of HR specialists and these are people that not only understand the laws in these in these countries and areas however they likewise know the languages they know the regional practices they understand the cultures and it is very important to have that best group and genuinely have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to precise and prompt financial data is important for decision-making. The platform’s reporting abilities empower me to make educated tactical decisions based upon real-time insights into our global payroll data.
application and its scope and the way that 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 obtained rights regulation otherwise called the 2p regulations in the UK the working time policies which has had various strands of that legislation tested particularly around vacation pay and naturally as Kathy’s going to come on to talk about later on work status which there’s been multiple precedence set for many years so I think it’s truly that continuous development of the work law landscape that you truly need to browse when when working in Europe fine thank you Elizabeth Ray what about you from your individual experience while crossing the pond as mentioned each nation has various policies but the United States is basically 50 countries
Scalability for Company Growth:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and expand into brand-new markets, the software flawlessly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll facilities can adapt to the developing requirements of our global organization.
International 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 state separately and jointly these 3 people have Decades of experience in in work law and worldwide 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 one of our own Stars erase share head of Global Provider at papaya Global tell us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the business for around four and a half years as head of Partnerships I have actually established Papaya’s network of in-country Partners in over 160 locations on an individual element and related to our subject today I have actually had the opportunity to transfer and work in 3 various nations it is the business’s obligation to ensure my security while living in a foreign country compliance with regional laws and policies is vital for me or anyone else as an expat or as a local so today we have actually welcomed our relied on Partners individuals 2.0 to show the value of regional
know-how when business Go International thank you and delight in alright thank you as I stated let’s proceed to the pact agenda today’s webinar is an opportunity to ask the panel the questions you have actually been thinking about we’ll discuss the realities a business needs to think about when opening a new entity and expanding into brand-new countries as well as keeping things going we’ll cover elements such as local policies factors to consider when working with compliance essential difficulties payments and what not to do it’s one of 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 knowing what to do in each brand-new circumstance as it rises is important on numerous levels comprehending local guidelines and local laws as well as service practices helps mitigate Associated and international growth papaya through our local experts can navigate potential threats such as intellectual property protection information privacy security issues making sure the company’s operations remain certified and safe tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has proven to be an indispensable possession in our mission for efficient and certified global payroll management. As the CFO of an international business, I am confident in suggesting Papaya Global to companies looking for to enhance their payroll processes, improve compliance, and attain greater efficiency in handling their global workforce. The software application’s innovative functions and dedication to quality align with our strategic objectives, making it an important 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 expenses there’s there’s other charges there’s other expenses behind that also so the total cost can be really significant in the 10s of countless dollars or more and and those amounts are growing uh the reason why companies are getting it so incorrect is truly just the rules are complex and they’re altering all the time think ir-35 in the UK which has been an ongoing advancement for a number of years now and and still a lot of uncertainty amongst companies on what it actually indicates and how you handle it most employers are simply not familiar with the rules and and act as if the the guidelines are the same everywhere which they’re not so so encourage you to to be really proactive as you’re engaging uh workers from a category point of view all right thank you Stephen and returning to yourself Ray it’s not only the business that suffers in the long run what impacts can this have on the employee Papaya Global Courses Leicester specifically when it pertains to their own tax liabilities social security and benefits for instance jury and certainly the workers the opposite of the coin
I discover time and time again the employees frequently misclassified unknowingly they do not understand the conditions of work or agreement and are told by the client why it’s most advantageous mainly to the client why you should be utilized or participated in this fashion the worker may owe taxes and Social Security to the authorities the future pension and health care privileges of the employee can be impacted and numerous times it can be years before this all falls out and by that time it’s too late years have passed they have not contributed to pensions Etc so it’s a big effect that they never ever understood they were walking into you couldn’t agree with you more if you say the UK for example hmrc can return as much as 10 years um Kathy business are securing insurance coverage versus misclassification however typically premiums are just covering the expense of legal fees whilst the typical claim examined versus companies relates to to 40 or half of the base salary of worker exists 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 most of the times I haven’t seen it at least so uh the the other area 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 stuff you could be rejected protection on the basis of the reality that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Courses Leicester …
The extensive features of come at a cost,
Over the past couple of years, the workforce has actually gone through a considerable change with the development of remote work, which has eliminated geographical constraints on hiring. This has actually made it possible for companies to recruit skill from all over the world, allowing them to assemble the best possible team for each function. As a result, workers have actually gained greater versatility to work from home and increase their earnings without needing to transfer to costly areas or commute long distances. According to a 2022 survey, 87% of staff members who have the alternative to work from another location choose to do so. The COVID-19 pandemic, combined with improvements in enterprise connectivity software, has actually even more sped up the shift towards remote work, even in industries that were at first hesitant to adopt the trend.
insights are important to us and and your fellow guests so first things first though um let’s get to know everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had roles in all type of Industries retail and Charm to Aerospace in all kinds of services startup to matrixed environments around the world I supplied leadership and method to populations of more than 100,000 employees on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work across business guy maning and constructing external relationships supporting Business customers and options and acting as a consultant I ‘d like to introduce our 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 said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal group and actually work extremely carefully with our um HR department too to deal with numerous legal and HR matters that turn up so truly thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our objective is to set you as HR experts free to do fantastic
While Papaya Global offers combinations with different HR and finance systems, the implementation process was not without difficulties. Incorporating the software with our existing facilities needed additional modification, causing some delays in the preliminary rollout.
Paying FAQs Papaya Global Courses Leicester 2024
and some smaller subsidiaries within our organization found the prices to be on the higher side. As a worldwide business, stabilizing the requirement for sophisticated features with budget plan constraints ended up being a delicate workout.
Customer Support Reaction Time:
There were circumstances where our groups dealt with issues that required prompt help. However, the action time from’s consumer assistance team was not constantly as fast as preferred, resulting in occasional hold-ups in issue resolution.
Our execution of included a phased method. We started by onboarding a few subsidiaries to check the system’s compatibility with our existing processes. This permitted us to identify and resolve integration difficulties early on. As the software ended up being more ingrained in our operations, we gradually broadened its use to cover our whole international workforce.
The automated functions streamlined our payroll processes, lowering the time spent on manual computations and compliance tracking. Regular training sessions and continuous support from Papaya helped our teams end up being competent users of the software application, optimizing its potential for our organization.
Companies that staff member workers throughout several countries frequently face complex challenges when it pertains to managing their workforce. One of the most significant hurdles is consolidating numerous data streams and adhering to diverse regional and national labor regulations, which can be both lengthy and expensive. Furthermore, setting up local entities in brand-new areas can be an expensive and suboptimal choice, with options such as opening a foreign subsidiary or working with an expert work organization (PEO) typically charging up to 15% of the payroll. These challenges have resulted in a considerable increase in difficulty recruiting certified personnel, with 75% of companies reporting this concern in 2022, a 21% increase from 2019. The payroll and HR options market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
provides an option supporting all types of employment. It provides an end-to-end platform, from employee onboarding and continuous management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they run, uses management of employment advantages, 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 labor force management. She co-founded after seeing the innovation gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to participate in 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 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 start a journey of information to policy achieving
360 degree staff member compliance where we’ll dive into the vital aspects of the employee compliance management model throughout the session we’ll check out real life obstacles real local guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to protect your company and employees while staying compliant in an
Ever progressing regulatory environment in the everchanging world of service and finance guaranteeing compliance with payroll guidelines is not just crucial but likewise a legal important from the moment of hiring to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance dangers that have far-reaching consequences nevertheless with a deeper more nuanced understanding of their obligations organizations can not only navigate the intricate landscape but also proactively ensure this 360 degree compliance the webinar is created to equip you with the understanding and tools required to browse the complex Surface of compliance whether you’re a skilled P specialist a small company owner or somebody brand-new to the field what I would like to do before we begin and I think it’s truly essential
In our quest to improve efficiency and precision in managing our international workforce, our international corporation turned to, a leading and labor force management software. The shift intended to streamline the complex job of managing throughout numerous nations, currencies, and compliance regulations.
One of the standout features of is its robust compliance management system. The software application immediately updates itself to adhere to ever-evolving tax and labor laws across several jurisdictions. This has actually been important in guaranteeing that our procedures remain compliant in each country of operation.
is to state that the material here is illegal advice it is simply for your info please consult your legal group needs to you have any concerns or concerns in relation to anything that we have actually discussed today our secret take key takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to hire ly with self-confidence how to simplify data management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
function as your hris or is type of your core employee record um to handle that employee life cycle throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those employees and compensate them and advantages Administration module that allows you to assist handle the advantages you offer to your employees so actually excited to be here represent um bamb booy jar and talk about this subject um and I think from my perspective I’ll I’ll probably supply a great deal of a focus on the United States side of things when we speak about kind of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to present yourself and tell the audience a bit about papay international yes definitely thank you Ian hey there everybody I’m Gina dorelis I’m the Work specialist supervisor.
at I handle the employment Council in the US APAC EMA and Israel area I also serve as us Council for I’m licensed in New york city and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service work force company to employees serving in over.
160 countries alright thank you so both I feel entirely underqualified sitting here with you both well I forgot to point out as we were sort of like going through the intro so it’s actually truly nice to really see in the webinar chat where everybody’s really attending from today I can see that we have people in Las Vegas and Indiana already so if you want to carry on inform where you are that would be absolutely wonderful whilst we simply wait on everyone else to kind of like participate in there we go Chicago too well um so whil we’re doing that I’m waiting on everybody to type of join I’ll simply run us through the program um today we are going to talk about employing Skill brand-new higher Info Management termination compliance and automation wow the chat has got really really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is wonderful so uh I’m hoping that we’re actually going to have some truly fantastic commentary and questions throughout the uh the webinar also all right so that’s the program then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of an employee and their information is Papaya Global Courses Leicester multifaceted without fail and an.
Ever progressing relationship that starts the minute a person signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to a number of crucial phases whilst we’re really you understand that they’re utilized with us so on boarding daily operations compensation and benefits professional development then we get to the offboarding and even advocacy so it even happens after the staff member has left your work throughout the journey organizations are responsible for collecting saving securing employee data in compliance with information privacy policies no matter where it is you’re running around the globe it frequently involves carrying out safe and secure data management systems and ensuring strict adherence to regional requirements to safeguard both the worker and the company the development of staff member information and management c.