A CFO’s Point of view on Papaya Global Retrospective Eps…
Papaya Global’s platform improves international labor force management for companies, ensuring compliance with local policies and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and participation tracking, and HR support. The platform centralizes global payroll operations, supplying organizations with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of international company operations, handling payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of an international business, I understand the vital significance of efficient and compliant payroll management. In our pursuit of quality, we have actually welcomed ingenious solutions to simplify our procedures, and one such transformative tool is Software application.
The Obstacle of International Payroll:
International growth produces varied difficulties, and payroll management is no exception. Differing tax policies, differing work laws, and several currencies make it imperative for companies to embrace advanced solutions to ensure precision, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Solution:
staff members so it’s really essential to guarantee that you’ve thought about from the start any post-termination restrictions that you want to put into the agreement of employment that they’re enforceable so that suggests you need to really think of what it is you’re seeking to secure and why clearly Define what’s included within the scope of that secret information and resolve the duration of limitation post-determination that you want to use and be really able to to justify that in relation to copyright the position really depends upon the kind of copyright you’re seeking to secure and also the jurisdiction so for instance from a copyright point of view in the Netherlands completion client is more likely to have the um copyright rights in a copyright that the workers produced who’s been under their guidance and control automatically nevertheless in somewhere like Poland for instance that automated right may not exist which task would require to stream through the chain uh contractually so it actually depends upon the jurisdiction and the type of IP all right thank you Elizabeth Steve was staying on the topic of contracts Miss categorized misclassifying employees
Papaya Global Software has actually emerged as a game-changer in the realm of international 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 positive effect of on our company’s financial operations.
Unified Global Payroll Processing:
enables our business to process payroll perfectly across numerous countries. The platform’s unified technique permits consistent payroll estimations, minimizing mistakes and making sure compliance with regional regulations. This has significantly reduced the risks connected with global payroll processing.
also key for if later on somebody states misclassification you have your file supported by the requisite documents which the best examination tools to show somebody that you had a thoughtful process therefore what do you need to consist of in that process it’s the who the what the where and the when who are you handling are you handling a specific or are you handling a personal Service Corporation and how are they operating what are they doing is it the kind of work that lends itself more to being an independent professional than an employee so for instance accounting
I.T engineering the creatives these all lend 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 site and handled again another essential element is the management and supervision of the uh employee and after that finally when is it a particular project is it a six-month job 6 years all of this is workable however it has to be recorded and it needs 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 globally these tools take a questionnaire list for the worker the worker completes and fills these questions out therefore does completion customer or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the different concerns because not every jurisdiction has the exact same feeling about a few of these concerns some think they’re more vital 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 probably assist you with that in regards to some of the important things you need to reinforce to make sure that you are given that assessment of uh independent specialist or green where you were examined as an as a independent contractor once that evaluation is done all the requisite files are beneath it so that if later there
Navigating the intricacies of international employment laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our organization updated with modifications in policies across jurisdictions. This ensures that our payroll procedures stick to the most recent requirements, decreasing the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal companies who help us keep our databases completely up to date and we likewise contact we require to when we see an uncommon or or especially complex scenarios all right thanks Steve I can simply see a quick concern in the Q a window yes the session will be taped and sent to participants later on um returning to to the webinar itself Ray company of record is regulated differently around the globe and the German law for instance it’s classed as worker leasing can you shed any light on some of the special factors to consider for countries and where the eor design isn’t regulated yes Ian employee leasing or labor leasing as it’s also called which prevails in several countries particularly in Europe enforces stringent regulations on items such as the length of project it also designates workers to collective bargaining arrangements that provides rights and benefits but even in the nations that don’t have those rigorous guidelines for example the UK Canada and the nordics there are guidelines for each nation and each employee is treated the like all the other workers in that nation and all those policies need to be abided by all right thank you Ray um Kathy moving I would state to yourself what do companies require to consider when identifying agreement status to secure themselves and the rights of hires what are the benefits and drawbacks of hiring contractors and Freelancers versus long-term staff members so undoubtedly the the advantage of professionals versus staff members is the the flexibility for both the employee and for the employer um however I can’t worry enough how essential it is to have a consistent extensive and a well-documented compliance
Papaya Global Retrospective Eps and Time Cost Savings:
The software’s automation capabilities have actually considerably decreased the time and effort needed for payroll processing. Manual data entry and recurring tasks have been lessened, allowing our financing team to focus on strategic efforts instead of administrative concerns. This has actually resulted in increased effectiveness and performance within our monetary operations.
in one since 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 details has to be on the payslip in the best format and in the best position if you’re in breach of of guidelines for payslips the fines are released per payslip so that’s each employee each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to stress to consider and we’re only two concerns in and 10 minutes or two hiring in one country is challenging enough however when working with in a you know on a global level it’s a totally different story you need to ensure that you’re up to date with current along with pending regional labor laws Steve um how do you make sure and ensure that the people 2.0 group is on top of an ever-changing landscape which your customers are fully supported and I’ll arrange this into three crucial things we carry out in primarily you require to have the ideal group so we work with a team of global specialists in Employment Practices um that ex that team of specialists includes legal representatives it consists of payroll specialists it consists of HR experts and these are people that not just know the laws in these in these nations and areas however they also understand the languages they understand the regional practices they know the cultures and it’s important to have that ideal team and truly have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and timely monetary data is important for decision-making. The platform’s reporting abilities empower me to make informed strategic choices based upon real-time insights into our global payroll information.
The practical application and level of the application to work law can be evaluated through the legal system using case law examples. For example, the obtained rights regulation, also known as the 2p policies in the UK, and the working time policies have gone through different legal interpretations, particularly concerning vacation pay. Furthermore, the concept of employment status has seen several legal precedents over the
Scalability for Organization Growth:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software flawlessly accommodates changes in our labor force and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the developing requirements of our global company.
Worldwide Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Look who is our senior vice president of client services and I would state separately and jointly these three people have Years of experience in in work law and international Employment Practices so thank you it’s an enjoyment to be with everybody here today sounds like we have actually 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 Worldwide tell us about yourself thank you Elin Ian hi my name is Elite I’ve been with the business for around 4 and a half years as head of Partnerships 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 have actually had the chance to transfer and operate in 3 various nations it is the company’s responsibility to guarantee my defense while living in a foreign country compliance with local laws and guidelines is important for me or anybody else as an expat or as a local so today we have actually welcomed our trusted Partners people 2.0 to show the significance of local
proficiency when companies Go Worldwide thank you and delight in alright thank you as I said let’s move on to the pact program today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking of we’ll go over the facts a company needs to think about when opening a brand-new entity and expanding into new nations in addition to keeping things going we’ll cover aspects such as local guidelines factors to consider when employing compliance essential obstacles payments and what not to do it is among the most essential things remembering what not to do um operating on a global level is not for the faint-hearted the larger a company grows the more they require to comprehend and manage knowing what to do in each new circumstance as it rises is essential on numerous levels understanding local regulations and local laws as well as company practices assists alleviate Associated and worldwide expansion papaya through our local experts can browse prospective dangers such as copyright defense data privacy security problems ensuring the company’s operations remain compliant and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has shown to be an invaluable possession in our quest for effective and certified worldwide payroll management. As the CFO of a worldwide business, I am confident in suggesting Papaya Global to companies seeking to simplify their payroll procedures, improve compliance, and attain greater effectiveness in handling their international workforce. The software’s innovative functions and dedication to excellence line up with our strategic objectives, making it an essential part of our financial operations.
openly announced and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly announced settlements there’s likewise substantial legal costs there’s there’s other charges there’s other expenses behind that as well so the total cost can be really considerable in the 10s of countless dollars or more and and those amounts are growing uh the reason business are getting it so incorrect is truly just the guidelines are complicated and they’re changing all the time believe ir-35 in the UK which has been a continuous development for numerous years now and and still a great deal of uncertainty among business on what it truly means and how you handle it most employers are simply not familiar with the rules and and act as if the the rules are the same everywhere which they’re not so so motivate you to to be very proactive as you’re engaging uh employees from a classification point of view all right thank you Stephen and moving back to yourself Ray it’s not just the business that suffers in the long run what impacts can this have on the staff member Papaya Global Retrospective Eps specifically when it pertains to their own tax liabilities social security and benefits for example jury and certainly the workers the opposite of the coin
I find time and time again the workers frequently misclassified unconsciously 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 employed or engaged in this fashion the employee might owe taxes and Social Security to the authorities the future pension and healthcare advantages of the worker can be impacted 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 impact that they never ever knew they were strolling into you couldn’t agree with you more if you say the UK for instance hmrc can go back as much as ten years um Kathy companies are getting insurance versus misclassification but usually premiums are only covering the expense of legal fees whilst the typical claim assessed versus companies equates to to 40 or half of the base pay of employee is there any point in securing insurance and what is the alternative yeah to your point um you do require to read 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 location that I do think if you managed to get the coverage what we are saying is is that if your compliance program is not up to pack you could be rejected coverage on the basis of the reality that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Retrospective Eps …
The extensive features of come at a cost,
Over the past couple of years, the workforce has actually gone through a significant improvement with the emergence of remote work, which has eliminated geographical constraints on hiring. This has enabled businesses to hire skill from all over the world, allowing them to put together the best possible team for each role. As a result, staff members have actually gained greater flexibility to work from home and increase their earnings without needing to relocate to costly locations or commute fars away. According to a 2022 study, 87% of employees who have the choice to work from another location pick to do so. The COVID-19 pandemic, combined with advancements in enterprise connection software application, has actually even more sped up the shift towards remote work, even in industries that were initially hesitant to embrace the trend.
insights are valuable to us and and your fellow attendees so first things initially though um let’s get to know everybody my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had functions in all type of Industries retail and Appeal to Aerospace in all kinds of businesses start-up to matrixed environments across the globe I offered management and strategy to populations of more than 100,000 staff members on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across the business guy maning and developing external relationships supporting Business clients and services and serving as a consultant I wish to present our first Greg um guest Greg who will kick things off by telling us um who he is and a bit more about bamboo HR Greg over to you thanks Ian yeah as Ian stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal team and in fact work really carefully with our um HR department as well to handle numerous legal and HR matters that turn up so really delighted to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our objective is to set you as HR experts totally free to do excellent
While Papaya Global offers integrations with various HR and finance systems, the execution process was not without challenges. Incorporating the software application with our existing infrastructure needed extra customization, leading to some delays in the initial rollout.
Paying FAQs Papaya Global Retrospective Eps 2024
and some smaller sized subsidiaries within our organization discovered the rates to be on the greater side. As a worldwide company, balancing the need for innovative features with budget restraints became a delicate workout.
Consumer Assistance Action Time:
There were circumstances where our groups dealt with concerns that required prompt help. However, the response time from’s customer assistance team was not always as quick as wanted, causing occasional delays in concern resolution.
Our implementation of included a phased method. We started by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This allowed us to identify and attend to combination obstacles early on. As the software became more ingrained in our operations, we gradually expanded its usage to cover our entire worldwide workforce.
The automated features structured our payroll processes, lowering the time spent on manual computations and compliance tracking. Routine training sessions and continuous assistance from Papaya helped our teams become proficient users of the software application, optimizing its potential for our organization.
Nevertheless, paying a workforce can be complex. It is particularly challenging for business who use staff throughout multiple nations, as they should continuously consolidate various data streams, by hand track local and national labor and policies, and spend important time and resources to establish local entities in brand-new areas. These business are faced with suboptimal, expensive choices, like opening a foreign subsidiary or employing an expert employment organization, which is a local company that hires staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported trouble hiring certified personnel, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is predicted to reach $50.4 billion by 2030.
provides a solution supporting all kinds of employment. It supplies an end-to-end platform, from employee onboarding and ongoing management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, uses management of work advantages, and makes sure data 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 expert in payroll and workforce management. She co-founded after seeing the innovation space in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to attend the complete webcast in order to get 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 internet browser with the webcast survey please be sure to finish it as quickly 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 enjoyed have you here as we start a journey of data to guideline accomplishing
360 degree employee compliance where we’ll dive into the vital aspects of the staff member compliance management design throughout the session we’ll check out real life difficulties real local guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to safeguard your company and employees while remaining certified in an
Ever progressing regulative environment in the everchanging world of company and finance making sure compliance with payroll guidelines is not just vital however also a legal necessary 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 significant consequences however with a deeper more nuanced understanding of their commitments companies can not only browse the detailed landscape however likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the understanding and tools necessary to navigate the complex Surface of compliance whether you’re an experienced P specialist a small business owner or somebody new to the field what I would like to do before we start and I believe it’s actually essential
In our mission to enhance efficiency and accuracy in handling our global labor force, our international corporation turned to, a leading and labor force management software. The transition intended to simplify the complex task of managing throughout various countries, currencies, and compliance policies.
One of the standout features of is its robust compliance management system. The software immediately updates itself to comply with ever-evolving tax and labor laws across multiple jurisdictions. This has actually been invaluable in guaranteeing that our procedures remain compliant in each country of operation.
is to state that the material here is not legal recommendations it is just for your details please consult your legal team needs to you have any questions or concerns in relation to anything that we’ve gone over today our secret take key takeaways by the end of the webinar will be an understanding of employee compliance threats how to work with ly with confidence how to streamline information management and automation so let’s take ourselves a minute to familiarize 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 worker life process throughout their Journey with you as as an employee in addition to a payroll module we need to help you pay those employees and compensate them and advantages Administration module that permits you to help handle the advantages you supply to your workers so actually thrilled to be here represent um bamb booy container and speak about this subject um and I guess from my perspective I’ll I’ll probably offer a lot of a concentrate on the US side of things when we talk about sort 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 little bit about papay worldwide yes absolutely thank you Ian hey there everybody 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 serve as us Council for I’m licensed in New York and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service work force provider to employees serving in over.
160 countries okay thank you so both I feel completely underqualified sitting here with you both well I forgot to mention as we were sort of like going through the intro so it’s really actually great to actually see in the webinar chat where everybody’s actually going to from today I can see that we have individuals in Las Vegas and Indiana already so if you wish to continue tell where you are that would be absolutely fantastic whilst we simply await everyone else to sort of like join in there we go Chicago as well well um so whil we’re doing that I’m waiting for everyone to type of join I’ll simply run us through the program um today we are going to discuss working with Talent brand-new higher Details Management termination compliance and automation wow the chat has got really truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is wonderful so uh I’m hoping that we’re really going to have some really excellent commentary and questions throughout the uh the webinar as well all right so that’s the agenda then what I want 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 Retrospective Eps multifaceted without fail and an.
Ever evolving relationship that starts the minute a person joins an organization it continues throughout their work and Beyond this journey can be divided into k to numerous essential phases whilst we’re really you understand that they’re utilized with us so on boarding daily operations compensation and advantages professional advancement then we get to the offboarding and even advocacy so it even happens after the worker has left your work throughout the journey companies are responsible for gathering keeping securing worker information in compliance with information personal privacy policies no matter where it is you’re running worldwide it frequently involves implementing safe and secure data management systems and ensuring stringent adherence to regional requirements to secure both the worker and the company the development of employee data and management c.