A CFO’s Point of view on Papaya Global Pocket Guide 2022…
Papaya Global’s platform improves worldwide labor force management for companies, making sure compliance with regional guidelines and tax laws. Their services incorporate payroll processing, benefits 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 actually broadened to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of worldwide organization operations, handling payroll across borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a worldwide company, I understand the critical value of effective and compliant payroll management. In our pursuit of excellence, we have embraced innovative services to improve our processes, and one such transformative tool is Software.
The Challenge of International Payroll:
Global expansion produces diverse obstacles, and payroll management is no exception. Differing tax policies, varying work laws, and numerous currencies make it crucial for companies to embrace advanced options to guarantee precision, compliance, and performance in payroll processing.
Software application: A Comprehensive Service:
It is essential to consider and consist of post-termination restrictions in the employment agreement to make sure enforceability. You need to carefully identify what you are looking for to protect and clearly define the secret information that falls within its scope. Furthermore, specify the period of the post-termination restriction and be prepared to justify it in relation to copyright. The rules concerning copyright vary depending upon the kind of IP and the jurisdiction. For example, in the Netherlands, the end customer is most likely to have copyright rights over works produced by employees under their guidance, while in Poland, contractual task might be necessary.
Papaya Global Software application has actually become a game-changer in the world of worldwide payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have experienced firsthand the favorable effect of on our organization’s financial operations.
Unified International Payroll Processing:
allows our business to procedure payroll seamlessly throughout multiple countries. The platform’s unified technique permits consistent payroll calculations, decreasing errors and ensuring compliance with regional regulations. This has significantly alleviated the dangers associated with worldwide payroll processing.
also essential for if later on someone says misclassification you have your file supported by the requisite documents which the best examination tools to show someone that you had a thoughtful process therefore what do you have to include because process it’s the who the what the where and the when who are you dealing with are you dealing with a private or are you dealing with a personal Service Corporation and how are they operating what are they doing is it the type of work that lends itself more to being an independent professional than an employee so for example accounting
I.T crafting the creatives these all provide themselves more to that examination of being freelancer you understand also uh where are they doing it can they work from anywhere or do they need to be on website and managed once again another key aspect is the management and supervision of the uh employee and then finally when is it a specific project is it a six-month project six years all of this is workable however it has to be documented and it has to be thoroughly um examined so we have a tool we call it ic2 we had an ic1 and we have actually improved it this year so that we can roll it out globally these tools take a survey list for the worker the employee completes and fills these questions out therefore does completion customer or the recipient of the services they both put their info into the tool and after that it does an evaluation waiting the various questions because not every jurisdiction has the same sensation about some of these concerns some think they’re more vital 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 regards to some of the important things you need to boost to ensure that you are given that evaluation of uh independent contractor or green where you were examined as an as a independent specialist once that evaluation is done all the requisite documents are below it so that if later there
Browsing the intricacies of worldwide work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in policies across jurisdictions. This guarantees that our payroll procedures abide by the most recent standards, reducing the danger of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal firms who assist us keep our databases entirely approximately date and we likewise call on we need to when we see an uncommon or or particularly intricate circumstances okay thanks Steve I can simply see a fast concern in the Q a window yes the session will be taped and sent out to attendees afterwards um moving back to to the webinar itself Ray company of record is regulated differently worldwide and the German law for example it’s classified as employee leasing can you shed any light on a few of the special factors to consider for countries and where the eor model isn’t managed yes Ian staff member leasing or labor leasing as it’s also called which prevails in numerous nations particularly in Europe enforces stringent policies on products such as the length of project it also assigns employees to collective bargaining contracts that provides rights and benefits however even in the nations that do not have those strict policies for example the UK Canada and the nordics there are policies for each nation and each worker is dealt with the same as all the other employees because country and all those regulations require to be abided by okay thank you Ray um Kathy moving I would say to yourself what do companies need to factor in when identifying contract status to protect themselves and the rights of hires what are the advantages and disadvantages of employing professionals and Freelancers versus irreversible employees so undoubtedly the the benefit of contractors versus staff members is the the flexibility for both the worker and for the employer um however I can’t stress enough how essential it is to have a consistent thorough and a well-documented compliance
Papaya Global Pocket Guide 2022 and Time Savings:
The software’s automation capabilities have actually significantly minimized the time and effort required for payroll processing. Manual information entry and repetitive jobs have actually been lessened, enabling our financing team to concentrate on tactical efforts instead of administrative burdens. This has resulted in increased performance and performance within our monetary operations.
in one considering that each state has its own guidelines Californians are some of the most rigorous an example is pay slips on a payslip in California the right info needs to be on the payslip in the ideal format and in the right position if you’re in breach of of guidelines for payslips the fines are issued per payslip so that’s each staff member each pay slip will sustain 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 hiring in one nation is challenging enough but when working with in a you understand on a worldwide level it’s a completely various story you require to make sure that you depend on date with current along with pending regional labor laws Steve um how do you make sure and make sure that the people 2.0 group is on top of an ever-changing landscape which your customers are completely supported and I’ll organize this into 3 key things we perform in primarily you require to have the right team so we work with a team of worldwide professionals in Employment Practices um that ex that group of specialists consists of lawyers it consists of payroll experts it consists of HR specialists and these are people that not only know the laws in these in these nations and areas but they likewise know the languages they understand the regional practices they understand the cultures and it is essential to have that ideal team and genuinely have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global offers detailed real-time analytics and reporting tools. As a CFO, having access to accurate and timely monetary data is crucial for decision-making. The platform’s reporting capabilities empower me to make informed tactical decisions based upon real-time insights into our worldwide 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 referred to as the 2p guidelines in the UK the working time guidelines which has had numerous strands of that legislation checked especially around holiday pay and obviously as Kathy’s going to come on to discuss later employment status which there’s been several precedence set for many years so I believe it’s really that continuous evolution of the work law landscape that you actually need to navigate when when operating in Europe alright thank you Elizabeth Ray what about you from your personal experience while crossing the pond as mentioned each country has various policies however the United States is essentially 50 countries
Scalability for Business Development:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and expand into brand-new markets, the software seamlessly accommodates changes in our labor force and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the progressing requirements of our worldwide organization.
International Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of client services and I would state individually and jointly these 3 individuals have Decades of experience in in work law and global Employment Practices so thank you it’s a satisfaction to be with everyone here today sounds like we’ve got the right people with us today and in in addition to to those well we also have among our own Stars erase share head of Global Services at papaya International tell us about yourself thank you Elin Ian hello my name is Elite I have actually been with the company 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 places on a personal aspect and related to our subject today I have actually had the opportunity to move and operate in three different nations it is the company’s obligation to guarantee my security while residing in a foreign country compliance with regional laws and regulations is important for me or anyone else as an expat or as a regional so today we have actually welcomed our relied on Partners people 2.0 to demonstrate the importance of local
know-how when companies Go Worldwide thank you and take pleasure in alright thank you as I said let’s move on to the pact program today’s webinar is a chance to ask the panel the questions you have actually been thinking of we’ll discuss the truths a company requires to consider when opening a new entity and broadening into new countries in addition to keeping things going we’ll cover elements such as regional policies factors to consider when working with compliance key challenges payments and what not to do it’s one of the most crucial things remembering what not to do um operating on an international level is not for the faint-hearted the larger a business grows the more they need to comprehend and handle knowing what to do in each brand-new scenario as it increases is necessary on many levels comprehending local regulations and regional laws in addition to organization practices assists reduce Associated and international growth papaya through our local specialists can browse prospective dangers such as intellectual property security data privacy security concerns guaranteeing the company’s operations remain certified and safe tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has shown to be an important property in our quest for effective and compliant international payroll management. As the CFO of a global company, I am positive in advising Papaya Global to companies seeking to streamline their payroll procedures, boost compliance, and achieve higher efficiency in managing their international labor force. The software application’s innovative functions and commitment to quality align with our tactical objectives, making it an integral part of our financial operations.
I discover time and time again the employees often misclassified unwittingly they do not comprehend the conditions of work or contract and are informed by the customer why it’s optimum generally to the customer why you must be utilized or taken part in this fashion the employee may owe taxes and Social Security to the authorities the future pension and healthcare opportunities 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 passed they haven’t contributed to pensions And so on so it’s a huge impact that they never understood they were walking into you couldn’t agree with you more if you state the UK for example hmrc can go back as much as 10 years um Kathy companies are getting insurance coverage against misclassification however generally premiums are just covering the expense of legal charges whilst the average claim examined versus companies equates to to 40 or half of the base salary of employee is there any point in getting insurance and what is the alternative yeah to your point um you do need to read the fine print it is not covering the taxes charge and interest in many cases I have not seen it a minimum of so uh the the other location that I do think if you managed to get the protection what we are stating is is that if your compliance program is not up to pack you could be rejected coverage 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 Pocket Guide 2022 …
The detailed features of come at a cost,
Over the past couple of years, the workforce has undergone a substantial improvement with the emergence of remote work, which has eliminated geographical restraints on hiring. This has enabled businesses to recruit talent from all over the world, allowing them to assemble the very best possible team for each function. As a result, employees have actually acquired greater versatility to work from home and increase their profits without needing to move to costly areas or commute long distances. According to a 2022 survey, 87% of employees who have the alternative to work remotely select to do so. The COVID-19 pandemic, combined with improvements in enterprise connection software, has further sped up the shift towards remote work, even in industries that were at first hesitant to adopt the pattern.
insights are valuable to us and and your fellow attendees so first things first though um let’s get to know everyone my name is Ian Charles and I have actually operated in payroll for the last 25 years I’ve had roles in all sort of Industries retail and Beauty to Aerospace in all types of services start-up to matrixed environments around the world I provided leadership and technique to populations of more than 100,000 staff members on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work throughout business man maning and developing external relationships supporting Enterprise customers and solutions and acting as an advisor I wish to present our first Greg um visitor 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 stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal team and actually work really closely with our um HR department as well to deal with various legal and HR matters that show up so really delighted 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
While Papaya Global offers integrations with various HR and financing systems, the implementation process was not without difficulties. Integrating the software application with our existing facilities needed extra customization, causing some hold-ups in the initial rollout.
Paying FAQs Papaya Global Pocket Guide 2022 2024
and some smaller subsidiaries within our organization discovered the rates to be on the greater side. As a worldwide business, balancing the need for advanced features with spending plan restrictions ended up being a delicate exercise.
Customer Assistance Response Time:
There were circumstances where our teams dealt with problems that needed timely support. However, the action time from’s customer support group was not constantly as fast as wanted, resulting in occasional delays in issue resolution.
Our implementation of included a phased approach. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This permitted us to determine and attend to integration obstacles early on. As the software application became more ingrained in our operations, we slowly expanded its usage to cover our entire global workforce.
The automated features streamlined our payroll procedures, minimizing the time invested in manual computations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our groups become proficient users of the software application, optimizing its capacity for our organization.
Nevertheless, paying a workforce can be intricate. It is especially challenging for business who utilize personnel across multiple nations, as they need to continuously consolidate various data streams, manually track local and national labor and policies, and spend important time and resources to set up local entities in brand-new areas. These companies are faced with suboptimal, expensive options, like opening a foreign subsidiary or employing a professional work company, which is a local firm that hires workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty hiring qualified workers, a boost of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is predicted to reach $50.4 billion by 2030.
offers an option supporting all kinds of work. It offers an end-to-end platform, from employee onboarding and continuous management to global payments and. It helps business with labor law compliance in the jurisdictions in which they run, offers management of employment benefits, and guarantees information personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading specialist in payroll and labor force management. She co-founded after seeing the innovation gap in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to participate in the complete webcast in order to get your credits if you have any questions 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 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 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 attaining
360 degree employee compliance where we’ll dive into the necessary aspects of the staff member compliance management model throughout the session we’ll explore real world obstacles real local policies finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to safeguard your organization and staff members while staying compliant in an
Ever developing regulatory environment in the everchanging world of service and finance guaranteeing compliance with payroll guidelines is not just important however likewise a legal crucial from the minute of working with to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance risks that have far-reaching effects nevertheless with a deeper more nuanced understanding of their commitments 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 knowledge and tools required to browse the complex Surface of compliance whether you’re a seasoned P specialist a small company owner or someone brand-new to the field what I want to do before we begin and I think it’s actually essential
In our quest to boost performance and precision in managing our international workforce, our multinational corporation turned to, a leading and labor force management software application. The transition aimed to streamline the complex job of managing throughout various nations, currencies, and compliance regulations.
One of the standout functions of is its robust compliance management system. The software automatically updates itself to abide by ever-evolving tax and labor laws throughout numerous jurisdictions. This has been invaluable in guaranteeing that our procedures remain certified in each nation of operation.
is to state that the content here is not legal suggestions it is simply for your details please consult your legal team should you have any questions or concerns in relation to anything that we have actually talked about today our secret take crucial takeaways by the end of the webinar will be an understanding of worker compliance risks how to hire ly with confidence how to simplify data management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we have actually.
work as your hris or is type of your core employee record um to manage that worker life cycle throughout their Journey with you as as a worker in addition to a payroll module we need to help you pay those workers and compensate them and benefits Administration module that enables you to assist handle the benefits you provide to your employees so truly delighted to be here represent um bamb booy jar and speak about this subject um and I guess from my point of view I’ll I’ll probably offer a lot of a focus on the United States side of things when we discuss kind of compliance so happy to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay international yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Employment professional supervisor.
at I handle the employment Council in the US APAC EMA and Israel area I likewise work as us Council for I’m accredited in New York and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service work force provider to workers serving in over.
160 nations all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the intro so it’s actually truly nice to in fact see in the webinar chat where everyone’s in fact going to from today I can see that we have individuals in Las Vegas and Indiana already so if you want to continue tell where you are that would be definitely great whilst we simply wait on everybody else to kind of like participate there we go Chicago too well um so whil we’re doing that I’m waiting on everyone to type of join I’ll simply run us through the program um today we are going to go over hiring Talent brand-new greater Details Management termination compliance and automation wow the chat has actually got actually really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is great so uh I’m hoping that we’re really going to have some really great commentary and concerns throughout the uh the webinar also okay so that’s the program then what I ‘d like to Now cover is the the compliance and the Personal privacy side of things so the the Journey of an employee and their information is Papaya Global Pocket Guide 2022 multifaceted without fail and an.
Ever progressing relationship that begins the moment an individual signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to several key stages whilst we’re in fact you understand that they’re employed with us so on boarding daily operations payment and advantages expert development then we get to the offboarding and even advocacy so it even occurs after the staff member has actually left your work throughout the journey companies are accountable for gathering keeping securing employee information in compliance with data personal privacy regulations no matter where it is you’re operating all over the world it frequently involves executing secure information management systems and ensuring stringent adherence to local requirements to safeguard both the staff member and the organization the advancement of staff member information and management c.