A CFO’s Point of view on Papaya Global Solutions Address…
Papaya Global’s platform improves global 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 presence tracking, and HR support. The platform centralizes international payroll operations, supplying services 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 service operations, managing 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 effective and compliant payroll management. In our pursuit of excellence, we have embraced ingenious services to streamline our procedures, and one such transformative tool is Software application.
The Obstacle of International Payroll:
International expansion causes varied difficulties, and payroll management is no exception. Differing tax guidelines, varying employment laws, and multiple currencies make it crucial for organizations to embrace advanced solutions to make sure precision, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Solution:
employees so it’s really essential to make sure that you have actually thought about from the beginning any post-termination constraints that you want to take into the agreement of work that they’re enforceable so that indicates you require to actually consider what it is you’re looking to protect and why plainly Specify what’s consisted of within the scope of that secret information and address the period of constraint post-determination that you want to apply and be truly able to to validate that in relation to copyright the position really depends on the kind of intellectual property you’re aiming to safeguard and likewise the jurisdiction so for example from a copyright point of view in the Netherlands the end customer is most 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 instance that automated right might not exist which project would require to stream through the chain uh contractually so it really depends on the jurisdiction and the kind of IP all right thank you Elizabeth Steve was remaining on the subject of contracts Miss categorized misclassifying employees
Papaya Global Software has become a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, user-friendly interface. As the CFO, I have seen firsthand the favorable impact of on our organization’s monetary operations.
Unified Worldwide Payroll Processing:
allows our company to process payroll effortlessly across numerous nations. The platform’s unified method permits constant payroll estimations, minimizing errors and making sure compliance with local guidelines. This has actually significantly reduced the dangers related to worldwide payroll processing.
likewise essential for if later on someone says misclassification you have your file supported by the requisite files and that the right examination tools to show someone that you had a thoughtful process and so what do you have to include because procedure 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 running what are they doing is it the type of work that provides itself more to being an independent specialist 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 likewise uh where are they doing it can they work from anywhere or do they need to be on site and handled once again another essential aspect is the management and supervision of the uh employee and after that lastly when is it a specific job is it a six-month task six years all of this is workable but 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 improved it this year so that we can roll it out worldwide these tools take a survey list for the worker the employee fills out and fills these questions out therefore does the end client or the recipient of the services they both put their info into the tool and after that it does an examination waiting the various concerns because not every jurisdiction has the same feeling about some of these concerns some think they’re more important than others and it comes out with a red yellow or green red you’re most likely a worker yellow you’re on the cusp we can most likely help you with that in regards to some of the things you need to bolster to make certain that you are considered that assessment of uh independent contractor or green where you were assessed as an as a independent specialist once that assessment is done all the requisite documents are underneath it so that if later there
Navigating the intricacies of international work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our company up-to-date with changes in guidelines across jurisdictions. This ensures that our payroll procedures comply with the latest standards, minimizing the danger of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal companies who assist us keep our databases entirely approximately date and we likewise contact we require to when we see an uncommon or or particularly complex situations alright thanks Steve I can simply see a fast question in the Q a window yes the session will be taped and sent out to guests later on um moving back to to the webinar itself Ray employer 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 special factors to consider for nations and where the eor model isn’t controlled yes Ian employee leasing or labor leasing as it’s likewise called which is prevalent in a number of countries especially in Europe imposes strict regulations on products such as the length of assignment it also appoints workers to collective bargaining arrangements that provides rights and benefits but even in the countries that don’t have those strict guidelines for example the UK Canada and the nordics there are guidelines for each country and each employee is dealt with the like all the other workers because nation and all those guidelines require to be followed okay thank you Ray um Kathy moving I would say to yourself what do companies need to factor in when identifying contract status to safeguard themselves and the rights of hires what are the benefits and drawbacks of hiring contractors and Freelancers versus permanent employees so certainly the the advantage of professionals versus employees 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 Solutions Address and Time Cost Savings:
The software application’s automation capabilities have substantially decreased the time and effort required for payroll processing. Manual information entry and repetitive jobs have actually been minimized, allowing our financing group to focus on strategic efforts rather than administrative problems. This has actually led to increased performance and efficiency within our monetary operations.
in one since each state has its own policies Californians are a few of the most stringent an example is pay slips on a payslip in California the right info has to be on the payslip in the ideal format and in the ideal position if you’re in breach of of regulations for payslips the fines are provided per payslip so that’s each worker each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think of and we’re only two concerns in and 10 minutes or two hiring in one nation is tough enough but when employing in a you know on a global level it’s a completely different story you require to make sure that you depend on date with present as well as pending regional labor laws Steve um how do you ensure and ensure that the people 2.0 team is on top of an ever-changing landscape and that your customers are fully supported and I’ll organize this into 3 essential things we carry out in primarily you require to have the best team so we work with a group of global experts in Employment Practices um that ex that team of experts includes legal representatives it includes payroll experts it includes HR experts and these are people that not only know the laws in these in these nations and areas but they also know the languages they understand the local practices they understand the cultures and it is very important to have that right team and truly have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global supplies extensive 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 choices based upon real-time insights into our worldwide payroll information.
application and its scope and the manner in which 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 obtained rights regulation otherwise called the 2p policies in the UK the working time policies which has actually had different hairs of that legislation tested particularly around holiday pay and of course as Kathy’s going to come on to discuss later employment status which there’s been several precedence set for many years so I think it’s really that consistent development of the employment law landscape that you really need to navigate when when operating in Europe okay thank you Elizabeth Ray what about you from your individual experience while crossing the pond as discussed each country has different guidelines but the United States is essentially 50 nations
Scalability for Organization Growth:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software effortlessly accommodates modifications in our labor force and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the evolving needs of our international company.
Worldwide Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Look who is our senior vice president of client services and I would state separately and collectively these 3 individuals have Years of experience in in work law and international Employment Practices so thank you it’s a pleasure 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 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 have actually 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 element and related to our subject today I have actually had the chance to relocate and operate in 3 various nations it is the company’s obligation to guarantee my protection while living in a foreign nation compliance with local laws and guidelines is essential for me or anybody else as an expat or as a local so today we have invited our trusted Partners individuals 2.0 to demonstrate the importance of regional
expertise when business Go International thank you and delight in alright thank you as I stated let’s carry 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 talk about the facts a business requires to consider when opening a brand-new entity and broadening into brand-new nations as well as keeping things going we’ll cover aspects such as regional policies considerations when working with compliance essential obstacles payments and what not to do it is among the most crucial things remembering what not to do um operating on an international level is not for the faint-hearted the larger a company grows the more they require to comprehend and handle knowing what to do in each brand-new scenario as it increases is necessary on lots of levels comprehending regional guidelines and regional laws along with service practices assists mitigate Associated and global growth papaya through our local specialists can browse potential dangers such as intellectual property protection information personal privacy security problems ensuring the business’s operations stay compliant and protected tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually shown to be an indispensable asset in our quest for efficient and certified global payroll management. As the CFO of an international business, I am positive in advising Papaya Global to companies looking for to streamline their payroll processes, boost compliance, and accomplish higher efficiency in managing their international labor force. The software application’s ingenious functions and commitment to quality align with our tactical goals, making it an essential part of our financial operations.
I discover time and time again the workers often misclassified unconsciously they do not comprehend the conditions of work or contract and are informed by the client why it’s optimum generally to the customer why you ought to be utilized or participated in this fashion the employee may owe taxes and Social Security to the authorities the future pension and healthcare advantages of the employee 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 gone by they haven’t contributed to pensions Etc so it’s a huge effect that they never ever knew they were strolling 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 taking out insurance against misclassification but typically premiums are just covering the cost of legal fees whilst the typical claim examined versus employers relates to to 40 or half of the base salary of worker is there any point in getting insurance coverage and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes charge and interest in many cases I have not seen it at least so uh the the other area that I do believe 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 denied 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 Solutions Address …
The comprehensive functions of come at a cost,
Recent decades have seen a remarkable modification to the labor force as the rise of remote work has actually broken down geographical barriers to hiring. Companies can now work with staff from anywhere worldwide, permitting them to access the very best readily available talent for any offered function. This gives workers more flexibility to work from home and increase their income without moving to costly areas or travelling long distances. A 2022 study found that 87% of workers who have the chance to work remotely take that opportunity. The break out of COVID-19, in conjunction with new business connection software, sped up the move to remote work, including in industries formerly reluctant to welcome the pattern.
insights are important to us and and your fellow participants so first things first though um let’s learn more about everyone my name is Ian Charles and I have actually operated 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 services startup to matrixed environments around the world I supplied leadership and strategy to populations of more than 100,000 workers on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work across the business man maning and constructing external relationships supporting Business customers and options and functioning as an advisor I ‘d like 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 said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal group and in fact work very carefully with our um HR department as well to manage numerous legal and HR matters that come 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 mission is to set you as HR specialists free to do fantastic
While Papaya Global deals combinations with numerous HR and financing systems, the application process was not without challenges. Integrating the software application with our existing infrastructure required extra modification, leading to some hold-ups in the preliminary rollout.
Paying FAQs Papaya Global Solutions Address 2024
and some smaller sized subsidiaries within our organization discovered the rates to be on the greater side. As a worldwide company, balancing the requirement for sophisticated features with budget constraints ended up being a fragile workout.
Consumer Assistance Action Time:
There were circumstances where our groups dealt with issues that required prompt help. Nevertheless, the action time from’s consumer assistance group was not always as fast as wanted, resulting in periodic hold-ups in issue resolution.
Our implementation of included a phased technique. We started by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This permitted us to identify and deal with integration difficulties early on. As the software ended up being more instilled in our operations, we slowly broadened its use to cover our whole global labor force.
The automated features structured our payroll processes, minimizing the time invested in manual calculations and compliance tracking. Regular training sessions and ongoing assistance from Papaya assisted our teams become competent users of the software application, optimizing its potential for our company.
Business that employee workers across several nations often deal with intricate obstacles when it concerns handling their labor force. One of the most significant difficulties is consolidating numerous information streams and adhering to varied regional and national labor policies, which can be both time-consuming and expensive. Furthermore, establishing regional entities in new regions can be a costly and suboptimal alternative, with alternatives such as opening a foreign subsidiary or employing an expert employment company (PEO) typically charging up to 15% of the payroll. These obstacles have caused a substantial increase in trouble recruiting qualified personnel, with 75% of employers reporting this problem in 2022, a 21% boost from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers a solution supporting all forms of employment. It supplies an end-to-end platform, from worker onboarding and ongoing management to international payments and. It helps business with labor law compliance in the jurisdictions in which they run, uses management of employment benefits, and ensures 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 worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to attend the total webcast in order to get your credits if you have any questions throughout the webcast please click on the Q&A tab in your webinar controls and type the there a brand-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 presentation hi and thank you for joining us today we’re thrilled to have you here as we start a journey of information to guideline accomplishing
360 degree employee compliance where we’ll dive into the vital elements of the employee compliance management design throughout the session we’ll explore real life difficulties genuine 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 company and employees while staying compliant in an
Ever developing regulatory environment in the everchanging world of service and finance guaranteeing compliance with payroll guidelines is not only vital however likewise a legal crucial from the minute of employing to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance threats that have far-reaching consequences however with a deeper more nuanced understanding of their responsibilities companies can not just navigate the intricate landscape however likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to browse the complex Surface of compliance whether you’re a seasoned P professional a small business owner or someone new to the field what I wish to do before we begin and I believe it’s truly essential
In our mission to boost performance and precision in managing our international labor force, our multinational corporation turned to, a leading and workforce management software. The transition aimed to streamline the complex task of handling across different countries, currencies, and compliance regulations.
Among the standout features of is its robust compliance management system. The software application immediately updates itself to follow ever-evolving tax and labor laws across multiple jurisdictions. This has been indispensable in making sure that our procedures stay certified in each nation of operation.
is to state that the material here is not legal advice it is simply for your information please consult your legal team must you have any concerns or concerns in relation to anything that we have actually discussed today our key take key takeaways by the end of the webinar will be an understanding of worker compliance threats how to work with ly with confidence how to streamline data management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.
act as your hris or is type of your core worker record um to handle that worker life process throughout their Journey with you as as a staff member in addition to a payroll module we need to help you pay those staff members and compensate them and advantages Administration module that permits you to assist handle the benefits you provide to your workers so actually thrilled to be here represent um bamb booy container and speak about this subject um and I think from my point of view I’ll I’ll most likely provide a great deal of a focus on the United States side of things when we talk about type 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 handle the employment Council in the United States APAC EMA and Israel region I also function 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 offer payroll payments and labor force management as a Service work force provider to workers serving in over.
160 countries okay thank you so both I feel totally underqualified sitting here with you both well I forgot to mention as we were kind of like going through the introduction so it’s really truly nice to actually see in the webinar chat where everybody’s actually participating in 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 definitely fantastic whilst we simply wait for everybody else to sort of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting for everybody to kind of join I’ll just run us through the program um today we are going to talk about working with Talent new higher Information 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 everywhere which is great so uh I’m hoping that we’re actually going to have some actually excellent commentary and questions throughout the uh the webinar as well alright 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 data is Papaya Global Solutions Address diverse without fail and an.
Ever evolving relationship that starts the moment a person joins an organization it continues throughout their employment and Beyond this journey can be divided into k to several essential stages whilst we’re actually you know that they’re employed with us so on boarding daily operations compensation and advantages expert development then we get to the offboarding and even advocacy so it even happens after the worker has actually left your work throughout the journey companies are responsible for gathering saving securing employee information in compliance with data personal privacy policies no matter where it is you’re operating all over the world it often involves executing protected data management systems and ensuring strict adherence to local requirements to protect both the employee and the company the evolution of worker information and management c.