A CFO’s Point of view on Papaya Global Solomon Islands…
Papaya Global’s platform simplifies global labor force management for business, ensuring compliance with regional policies and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and attendance tracking, and HR support. The platform centralizes global payroll operations, providing companies with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of worldwide business operations, managing payroll throughout borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a worldwide company, I understand the important value of effective and certified payroll management. In our pursuit of quality, we have actually accepted innovative services to improve our processes, and one such transformative tool is Software application.
The Challenge of International Payroll:
Global expansion causes diverse difficulties, and payroll management is no exception. Differing tax regulations, differing work laws, and several currencies make it vital for companies to embrace advanced options to guarantee accuracy, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Option:
staff members so it’s truly basic to ensure that you’ve considered from the beginning any post-termination constraints that you want to put into the contract of work that they’re enforceable so that means you need to truly think of what it is you’re seeking to secure and why clearly Specify what’s included within the scope of that confidential information and attend to the period of restriction post-determination that you want to apply and be really able to to justify that in relation to intellectual property the position really depends upon the type of intellectual property you’re seeking to safeguard and also the jurisdiction so for instance from a copyright viewpoint in the Netherlands the end client 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 automatically nevertheless in someplace like Poland for example that automated right might not exist which assignment would require to flow through the chain uh contractually so it truly depends on the jurisdiction and the kind of IP alright thank you Elizabeth Steve was remaining on the subject of contracts Miss classified misclassifying staff members
Papaya Global Software has actually emerged as a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, easy to use interface. As the CFO, I have actually seen firsthand the favorable impact of on our company’s financial operations.
Unified International Payroll Processing:
enables our business to process payroll seamlessly throughout numerous countries. The platform’s unified method permits constant payroll computations, minimizing errors and guaranteeing compliance with local guidelines. This has actually considerably mitigated the risks connected with international payroll processing.
likewise key for if later on somebody says misclassification you have your file supported by the requisite files which the best assessment tools to reveal someone that you had a thoughtful procedure therefore what do you need to consist of because procedure it’s the who the what the where and the when who are you handling are you dealing with a private or are you handling an individual Service Corporation and how are they running what are they doing is it the kind of work that lends itself more to being an independent contractor 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 likewise uh where are they doing it can they work from anywhere or do they need to be on site and managed again another essential element is the management and guidance of the uh worker and after that finally when is it a particular job is it a six-month project six years all of this is manageable however it needs to be recorded and it has to be completely 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 survey list for the employee the employee completes and fills these concerns out therefore 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 different questions since not every jurisdiction has the exact same feeling about a few of these questions some think they’re more crucial 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 a few of the things you need to bolster to ensure that you are given that evaluation of uh independent specialist or green where you were examined as an as a independent specialist once that assessment is done all the requisite files are below it so that if in the future there
Navigating the intricacies of global work laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization updated with modifications in guidelines across jurisdictions. This ensures that our payroll procedures follow the most recent requirements, lessening the threat of non-compliance and associated penalties.
network of In-House outside advisors accounting companies and legal companies who assist us keep our databases completely as much as date and we likewise call on we need to when we see an uncommon or or particularly complicated scenarios alright thanks Steve I can simply see a quick question in the Q a window yes the session will be recorded and sent to guests later on um returning to to the webinar itself Ray employer of record is managed in a different way around the globe and the German law for example it’s classified as staff member leasing can you shed any light on some of the special considerations for nations and where the eor design isn’t managed yes Ian employee leasing or labor leasing as it’s likewise called which is prevalent in a number of nations particularly in Europe imposes strict policies on products such as the length of task it also assigns employees to collective bargaining agreements that gives them rights and benefits but even in the countries that do not have those stringent policies for example the UK Canada and the nordics there are regulations for each country and each worker is treated the like all the other workers in that nation and all those regulations need to be complied with alright thank you Ray um Kathy moving I would say to yourself what do companies require to consider when determining contract status to secure themselves and the rights of hires what are the advantages and disadvantages of employing specialists and Freelancers versus irreversible workers so obviously the the advantage of professionals versus employees is the the flexibility for both the employee and for the employer um however I can’t stress enough how essential it is to have a constant thorough and a well-documented compliance
Papaya Global Solomon Islands and Time Savings:
The software’s automation abilities have significantly lowered the time and effort needed for payroll processing. Manual data entry and repeated tasks have been decreased, permitting our finance team to concentrate on strategic efforts rather than administrative burdens. This has actually led to increased efficiency and productivity within our financial operations.
in one because each state has its own regulations Californians are some of the most strict an example is pay slips on a payslip in California the ideal info needs to be on the payslip in the right format and in the right position if you’re in breach of of regulations for payslips the fines are provided per payslip so that’s each staff member each pay slip will incur a great thanks Ray thank you Elizabeth a lot to worry to think of and we’re only two concerns in and 10 minutes approximately employing in one country is tough enough however when employing in a you know on a worldwide level it’s an entirely various story you require to ensure that you’re up to date with present along with pending local 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 and that your clients are totally supported and I’ll arrange this into three key things we carry out in primarily you require to have the ideal group so we hire a team of international professionals in Employment Practices um that ex that team of experts consists of legal representatives it includes payroll experts it consists of HR professionals and these are people that not only know the laws in these in these nations and areas but they likewise know the languages they know the local practices they understand the cultures and it’s important to have that right group and truly have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides thorough real-time analytics and reporting tools. As a CFO, having access to precise and timely monetary data is important for decision-making. The platform’s reporting capabilities empower me to make educated tactical choices based on real-time insights into our global payroll data.
application and its scope and the way that it applies to employment law in practice can be checked through the judicial system by way of case law examples of that would be the acquired rights regulation otherwise called the 2p policies in the UK the working time regulations which has actually had various strands of that legislation evaluated especially around vacation pay and of course as Kathy’s going to come on to discuss later employment status which there’s been numerous precedence set over the years so I think it’s truly that consistent evolution of the employment law landscape that you really require to browse when when working in Europe alright thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each country has different guidelines however the United States is basically 50 countries
Scalability for Company Development:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and broaden into brand-new markets, the software application flawlessly accommodates changes in our workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adjust to the developing needs of our global company.
Global Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Gander who is our senior vice president of client services and I would state separately and collectively these three people have Years of experience in in work law and worldwide Work Practices so thank you it’s an enjoyment 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 likewise have among our own Stars delete share head of Global Services at papaya Global inform us about yourself thank you Elin Ian hello my name is Elite I’ve 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 element and related to our subject today I have actually had the opportunity to transfer and work in 3 different nations it is the company’s obligation to guarantee my protection while living in a foreign nation compliance with local laws and policies is crucial for me or anybody else as an expat or as a local so today we have actually welcomed our trusted Partners individuals 2.0 to show the value of local
competence when companies Go Global thank you and take pleasure in all right thank you as I stated let’s carry on to the pact agenda today’s webinar is a chance to ask the panel the concerns you’ve been considering we’ll discuss the realities a business needs to think about when opening a brand-new entity and broadening into new countries along with keeping things going we’ll cover aspects such as regional policies considerations when employing compliance crucial challenges payments and what not to do it’s one of the most important things remembering what not to do um operating on a global level is not for the faint-hearted the bigger a company grows the more they require to comprehend and handle understanding what to do in each brand-new scenario as it increases is necessary on many levels understanding local policies and regional laws in addition to business practices assists mitigate Associated and global growth papaya through our local specialists can browse prospective risks such as copyright defense information personal privacy security concerns guaranteeing the business’s operations remain compliant and safe tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software application has actually proven to be an important asset in our mission for efficient and certified worldwide payroll management. As the CFO of a worldwide business, I am confident in recommending Papaya Global to organizations looking for to enhance their payroll processes, boost compliance, and accomplish higher efficiency in managing their international workforce. The software’s ingenious features and dedication to excellence line up with our strategic goals, making it an integral part of our monetary operations.
publicly announced 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 considerable legal expenses there’s there’s other penalties there’s other costs behind that as well so the total cost can be extremely significant in the tens of countless dollars or more and and those quantities are growing uh the reason why business are getting it so incorrect is actually just the rules are complicated and they’re changing all the time think ir-35 in the UK which has actually been an ongoing advancement for numerous years now and and still a great deal of unpredictability amongst business on what it actually implies and how you deal with it most companies are simply not knowledgeable about the rules and and act as if the the rules are the same all over which they’re not so so motivate you to to be very proactive as you’re engaging uh employees from a category point of view fine thank you Stephen and returning to yourself Ray it’s not only the company that suffers in the long run what effects can this have on the employee Papaya Global Solomon Islands particularly when it concerns their own tax liabilities social security and benefits for example jury and obviously the workers the other side of the coin
I find time and time again the employees frequently misclassified unwittingly they do not understand the conditions of employment or contract and are told by the customer why it’s optimum primarily to the customer why you should be utilized or engaged in this fashion the worker may owe taxes and Social Security to the authorities the future pension and health care benefits of the employee can be impacted and a number of 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 added to pensions And so on so it’s a big effect that they never ever understood they were strolling into you could not agree with you more if you say the UK for example hmrc can go back as much as 10 years um Kathy companies are getting insurance versus misclassification however usually premiums are only covering the cost of legal fees whilst the typical claim evaluated versus employers relates to to 40 or half of the base pay of employee is there any point in getting insurance coverage and what is the alternative yeah to your point um you do require to check out the small print it is not covering the taxes charge and interest in most cases I have not seen it at least 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 stuff you could be rejected coverage on the basis of the reality that you were not in compliance with laws um in the UK
Cost Considerations and Papaya Global Solomon Islands …
The thorough features of come at a cost,
Over the past couple of years, the labor force has actually undergone a substantial transformation with the emergence of remote work, which has actually eliminated geographical constraints on hiring. This has enabled companies to hire skill from all over the world, enabling them to put together the best possible team for each function. As a result, staff members have actually gotten higher versatility to work from home and increase their earnings without needing to transfer to expensive areas or commute fars away. According to a 2022 survey, 87% of employees who have the alternative to work from another location pick to do so. The COVID-19 pandemic, integrated with improvements in enterprise connectivity software application, has actually further sped up the shift towards remote work, even in industries that were initially reluctant to adopt the trend.
insights are important to us and and your fellow guests so first things initially though um let’s learn more about everybody my name is Ian Charles and I’ve worked in payroll for the last 25 years I’ve had functions in all sort of Industries retail and Charm to Aerospace in all kinds of services startup to matrixed environments across the globe I supplied leadership and strategy to populations of more than 100,000 employees on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across business guy maning and building external relationships supporting Enterprise clients and services and functioning as an advisor I wish to introduce our first Greg um guest 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 internal legal group and actually work really carefully with our um HR department also to manage numerous legal and HR matters that come up so truly thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our objective is to set you as HR specialists totally free to do great
Although Papaya Global provides integrations with numerous HR and finance systems, we came across some difficulties throughout the integration process. Personalizing the software to line up with our existing facilities showed to be more complicated than anticipated, leading to hold-ups in the preliminary rollout.
The comprehensive features used by Papaya Global come at an expense, which some of our smaller sized subsidiaries found to be prohibitively costly. As an international company, we needed to thoroughly weigh the need for advanced functionality against budget plan constraints.
Assistance Reaction Time:
On occasion, our groups experienced concerns that needed immediate help. Nevertheless, the action time from Papaya Global’s client support group was not always as prompt as we would have liked, causing hold-ups in solving those problems.
Our execution of included a phased method. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This permitted us to determine and resolve integration difficulties early on. As the software became more implanted in our operations, we gradually expanded its usage to cover our whole international workforce.
The automated functions structured our payroll processes, decreasing the time invested in manual estimations and compliance tracking. Routine training sessions and continuous support from Papaya helped our teams become competent users of the software application, optimizing its potential for our company.
Nevertheless, paying a workforce can be intricate. It is especially challenging for business who use staff throughout numerous nations, as they should constantly consolidate different information streams, manually track regional and nationwide labor and regulations, and invest important time and resources to establish regional entities in new locations. These companies are faced with suboptimal, expensive choices, like opening a foreign subsidiary or hiring an expert work company, which is a local firm that works with employees on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble hiring certified personnel, a boost 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.
offers a service supporting all forms of employment. It provides an end-to-end platform, from employee onboarding and ongoing management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they run, uses management of employment 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 expert in payroll and labor force management. She co-founded after seeing the technology gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to attend the complete webcast in order to get your credits if you have any concerns throughout the webcast please click on the Q&A tab in your webinar controls and type the there a new tab will open in your internet browser with the webcast survey please make sure to complete it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hi and thank you for joining us today we’re thrilled to have you here as we embark on a journey of data to guideline accomplishing
360 degree staff member compliance where we’ll dive into the necessary elements of the employee compliance management model throughout the session we’ll explore real world obstacles genuine local policies best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to protect your organization and workers while staying certified in an
Ever evolving regulatory environment in the everchanging world of company and financing ensuring compliance with payroll guidelines is not only crucial however also a legal imperative from the moment of hiring to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance dangers that have significant effects nevertheless with a deeper more nuanced understanding of their obligations companies can not just navigate the elaborate landscape but also proactively ensure this 360 degree compliance the webinar is created to equip you with the understanding and tools needed to navigate the complex Terrain of compliance whether you’re a skilled P specialist a small company owner or someone new to the field what I would like to do before we start and I think it’s really important
In our mission to improve efficiency and accuracy in managing our worldwide workforce, our international corporation turned to, a leading and labor force management software. The transition intended to streamline the complex job of managing throughout different nations, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software application automatically updates itself to abide by ever-evolving tax and labor laws throughout numerous jurisdictions. This has been important in ensuring that our processes stay compliant in each nation of operation.
is to state that the content here is not legal advice it is merely for your details please consult your legal team needs to you have any concerns or issues in relation to anything that we have actually talked about today our secret take key takeaways by the end of the webinar will be an understanding of worker compliance dangers how to hire 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’ve.
serve as your hris or is type of your core employee record um to manage that worker life process 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 benefits Administration module that enables you to help handle the advantages you provide to your employees so actually excited to be here represent um bamb booy container and speak about this subject um and I guess from my perspective I’ll I’ll most likely supply a lot of a focus on the US side of things when we discuss sort of compliance so pleased 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 Employment expert manager.
at I manage the work Council in the United States APAC EMA and Israel region I also work as us Council for I’m certified in New york city and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we offer 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 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 truly truly nice to really see in the webinar chat where everybody’s in fact going to from today I can see that we have people in Las Vegas and Indiana already so if you wish to continue inform where you are that would be definitely great whilst we just await everybody else to type of like take part 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 just run us through the agenda um today we are going to discuss hiring Talent new higher Details Management termination compliance and automation wow the chat has actually got actually truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is wonderful so uh I’m hoping that we’re actually going to have some truly 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 Privacy side of things so the the Journey of a worker and their information is Papaya Global Solomon Islands diverse without fail and an.
Ever developing relationship that begins the moment a person joins a company it continues throughout their work and Beyond this journey can be divided into k to several essential phases whilst we’re in fact you understand that they’re employed with us so on boarding daily operations compensation and benefits expert advancement then we get to the offboarding and even advocacy so it even occurs after the staff member has actually left your employment throughout the journey companies are responsible for collecting saving safeguarding employee data in compliance with data personal privacy guidelines no matter where it is you’re running around the globe it frequently includes implementing protected information management systems and guaranteeing stringent adherence to local requirements to safeguard both the employee and the organization the development of employee data and management c.