A CFO’s Perspective on Papaya Global Support Telephone…
The platform enables business to manage their worldwide workforce and abide by regional work regulations and tax laws. Papaya Global offers a range of services, consisting of payroll management, benefits administration, compliance management, time and participation tracking, and HR management. The platform is developed to streamline the complexities of worldwide payroll and offer real-time presence and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New York, London, and Kiev.
In the vibrant landscape of worldwide business operations, handling payroll across borders can be a complex and tough job. As the Chief Financial Officer (CFO) of an international business, I comprehend the crucial importance of efficient and compliant payroll management. In our pursuit of excellence, we have welcomed ingenious options to improve our processes, and one such transformative tool is Software application.
The Difficulty of International Payroll:
Worldwide expansion causes diverse difficulties, and payroll management is no exception. Differing tax regulations, varying work laws, and several currencies make it necessary for organizations to embrace sophisticated services to guarantee precision, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Option:
staff members so it’s actually basic to ensure that you’ve thought about from the outset any post-termination restrictions that you want to take into the agreement of employment that they’re enforceable so that means you need to really think of what it is you’re looking to safeguard and why clearly Define what’s included within the scope of that secret information and resolve the duration of constraint post-determination that you wish to use and be actually able to to validate that in relation to intellectual property the position really depends upon the type of copyright you’re wanting to secure and likewise the jurisdiction so for instance from a copyright viewpoint in the Netherlands completion customer is more likely to have the um intellectual property rights in a copyright that the employees produced who’s been under their supervision and control immediately however in somewhere like Poland for instance that automated right might not be there and that project would require to flow through the chain uh contractually so it truly depends upon the jurisdiction and the type of IP alright thank you Elizabeth Steve was remaining on the topic of agreements Miss categorized misclassifying staff members
Papaya Global Software application has emerged as a game-changer in the world of global payroll management. Its cloud-based platform integrates payroll, workforce management, and employee benefits into a single, easy to use interface. As the CFO, I have seen firsthand the positive effect of on our company’s financial operations.
Unified International Payroll Processing:
allows our company to procedure payroll effortlessly throughout several nations. The platform’s unified approach enables constant payroll calculations, lowering errors and making sure compliance with regional policies. This has substantially mitigated the threats connected with global payroll processing.
likewise key for if later somebody says misclassification you have your file supported by the requisite documents which the best examination 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 handling a specific or are you dealing with an individual Service Corporation and how are they running what are they doing is it the kind of work that provides itself more to being an independent professional than a worker so for example accounting
I.T engineering the creatives these all lend themselves more to that assessment of being freelancer you understand also uh where are they doing it can they work from anywhere or do they have to be on site and managed once again another key aspect is the management and supervision of the uh employee and then finally when is it a specific job is it a six-month job 6 years all of this is manageable but it needs to be recorded and it needs 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 worker the employee completes and fills these concerns out therefore does completion client or the recipient of the services they both put their information into the tool and after that it does an examination waiting the different questions due to the fact that not every jurisdiction has the same feeling 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 an employee yellow you’re on the cusp we can most likely help you with that in terms of a few of the things you need to bolster to ensure that you are given that assessment of uh independent contractor or green where you were evaluated as an as a independent contractor once that assessment is done all the requisite files are underneath it so that if in the future there
Navigating the intricacies of international work laws and tax regulations can be frustrating. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in regulations throughout jurisdictions. This ensures that our payroll processes follow the current standards, reducing the threat of non-compliance and associated penalties.
network of In-House outside advisors accounting companies and legal firms who assist us keep our databases entirely up to date and we likewise get in touch with we need to when we see an uncommon or or especially complicated circumstances okay thanks Steve I can simply see a fast question in the Q a window yes the session will be recorded and sent out to guests afterwards um returning to to the webinar itself Ray employer of record is regulated in a different way all over the world and the German law for instance it’s classified as worker leasing can you shed any light on some of the unique factors to consider for countries and where the eor model isn’t controlled yes Ian employee leasing or labor leasing as it’s also called which prevails in several nations specifically in Europe imposes rigorous regulations on items such as the length of assignment it also assigns workers to collective bargaining contracts that provides rights and advantages but even in the nations that don’t have those stringent policies for instance the UK Canada and the nordics there are regulations for each country and each worker is dealt with the same as all the other workers because nation and all those guidelines require to be complied with all right thank you Ray um Kathy moving I would say to yourself what do business require to consider when identifying agreement status to safeguard themselves and the rights of hires what are the pros and cons of working with professionals and Freelancers versus permanent workers so clearly the the benefit of professionals versus workers is the the flexibility for both the worker and for the employer um but I can’t worry enough how essential it is to have a consistent comprehensive and a well-documented compliance
Papaya Global Support Telephone and Time Savings:
The software’s automation abilities have substantially reduced the time and effort required for payroll processing. Manual information entry and recurring jobs have been lessened, allowing our finance group to concentrate on strategic initiatives rather than administrative problems. This has led to increased performance and performance within our monetary operations.
in one because each state has its own guidelines Californians are a few of the most stringent an example is pay slips on a payslip in California the ideal details needs to be on the payslip in the right format and in the ideal position if you’re in breach of of guidelines for payslips the fines are provided per payslip so that’s each employee each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think of and we’re just 2 questions in and 10 minutes approximately hiring in one country is hard enough but when working with in a you understand on a global level it’s a totally various story you need to make sure that you’re up to date with present in addition to pending regional labor laws Steve um how do you ensure and make sure 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 3 key things we do in most importantly you need to have the right team so we work with a team of worldwide experts in Employment Practices um that ex that team of specialists consists of legal representatives it includes payroll professionals it consists of HR experts and these are individuals that not only understand the laws in these in these nations and areas but they also know the languages they know the local practices they understand the cultures and it is necessary to have that ideal team and genuinely have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers extensive real-time analytics and reporting tools. As a CFO, having access to precise and prompt financial information is crucial for decision-making. The platform’s reporting capabilities empower me to make informed strategic choices based on real-time insights into our worldwide payroll information.
application and its scope and the manner in which it applies to work law in practice can be checked through the judicial system by way of case law examples of that would be the acquired rights instruction otherwise called the 2p regulations in the UK the working time policies which has actually had different strands of that legislation tested especially around vacation pay and naturally as Kathy’s going to come on to talk about later on employment status which there’s been several precedence set throughout the years so I think it’s actually that consistent evolution of the employment law landscape that you truly need to navigate when when operating in Europe all right thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each country has various guidelines but the United States is basically 50 countries
Scalability for Organization Development:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software application seamlessly accommodates modifications in our workforce and payroll requirements. This scalability guarantees that our payroll infrastructure can adjust to the evolving requirements of our global company.
Worldwide Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Look who is our senior vice president of customer service and I would state separately and jointly these three individuals have Decades of experience in in work law and international Employment Practices so thank you it’s a satisfaction to be with everybody here today seems like we have actually got the right people with us today and in in addition to to those well we also have one of our own Stars delete share head of Global Provider at papaya Global tell us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business for around 4 and a half years as head of Collaborations I have actually developed Papaya’s network of in-country Partners in over 160 locations on an individual aspect and related to our subject today I’ve had the opportunity to transfer and operate 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 regulations is important for me or anybody else as an expat or as a local so today we have invited our trusted Partners people 2.0 to show the importance of regional
know-how when companies Go Worldwide thank you and take pleasure in alright thank you as I stated let’s move on to the pact agenda today’s webinar is a chance to ask the panel the concerns you have actually been thinking about we’ll talk about the realities a business requires to think about when opening a new entity and broadening into brand-new countries along with keeping things going we’ll cover aspects such as local regulations factors to consider when hiring compliance key difficulties 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 need to comprehend and manage knowing what to do in each new circumstance as it increases is necessary on lots of levels comprehending local policies and local laws in addition to business practices assists reduce Associated and worldwide expansion papaya through our regional professionals can browse prospective risks such as intellectual property protection information privacy security concerns ensuring the company’s operations remain certified and safe and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software application has actually proven to be an important possession in our quest for effective and certified international payroll management. As the CFO of an international company, I am confident in suggesting Papaya Global to companies seeking to simplify their payroll procedures, boost compliance, and attain greater effectiveness in managing their international workforce. The software application’s innovative features and dedication to quality align with our tactical objectives, making it an essential part of our monetary operations.
I discover time and time again the employees frequently misclassified unconsciously they do not comprehend the conditions of employment or contract and are informed by the client why it’s most advantageous primarily to the customer why you must be utilized or participated in this style the employee might owe taxes and Social Security to the authorities the future pension and health care privileges of the worker can be affected 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 have not added to pensions Etc so it’s a huge effect that they never ever understood they were walking into you could not agree with you more if you state the UK for instance hmrc can go back as much as 10 years um Kathy companies are getting insurance versus misclassification but typically premiums are only covering the cost of legal fees whilst the average claim assessed versus companies corresponds to to 40 or 50 percent of the base pay of worker exists any point in taking out insurance and what is the alternative yeah to your point um you do need to check out the small print it is not covering the taxes penalty and interest in most cases I have not seen it a minimum of so uh the the other area that I do believe if you managed to get the protection what we are saying is is that if your compliance program is not up to pack you could be denied coverage on the basis of the fact that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Support Telephone …
The comprehensive functions of come at a cost,
Current years have seen a remarkable change to the labor force as the rise of remote work has broken down geographical barriers to working with. Organizations can now employ personnel from anywhere worldwide, enabling them to access the very best available talent for any provided role. This offers employees more freedom to work from home and increase their earnings without relocating to pricey locations or commuting fars away. A 2022 survey discovered that 87% of staff members who have the possibility to work remotely take that chance. The outbreak of COVID-19, in conjunction with new enterprise connection software, accelerated the relocate to remote work, including in industries formerly reluctant to accept the pattern.
insights are valuable to us and and your fellow guests so first things initially though um let’s be familiar with everybody my name is Ian Charles and I have actually 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 types of businesses startup to matrixed environments around the world I provided leadership and method to populations of more than 100,000 workers on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across business man maning and developing external relationships supporting Enterprise clients and solutions and acting as an advisor I wish to present our first Greg um guest Greg who will kick things off by informing us um who he is and a little 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 in-house legal team and actually work very closely with our um HR department too to deal with different legal and HR matters that turn up so actually excited to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we say our objective is to set you as HR experts complimentary to do terrific
Although Papaya Global offers combinations with various HR and finance systems, we encountered some hurdles throughout the integration procedure. Customizing the software to line up with our existing infrastructure showed to be more intricate than expected, leading to hold-ups in the initial rollout.
The substantial features offered by Papaya Global come at a cost, which a few of our smaller subsidiaries found to be excessively pricey. As a global company, we needed to carefully weigh the need for innovative performance against budget restraints.
Assistance Reaction Time:
On occasion, our groups experienced problems that needed urgent assistance. However, the action time from Papaya Global’s client assistance group was not constantly as timely as we would have liked, resulting in delays in resolving those problems.
Our execution of included a phased approach. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This permitted us to determine and deal with integration challenges early on. As the software application ended up being more instilled in our operations, we gradually expanded its usage to cover our whole global labor force.
The automated features streamlined our payroll processes, lowering the time invested in manual calculations and compliance tracking. Regular training sessions and ongoing support from Papaya assisted our groups become skilled users of the software application, optimizing its potential for our organization.
Business that employee workers across multiple nations often face intricate difficulties when it concerns managing their labor force. One of the most significant obstacles is consolidating various data streams and sticking to varied local and nationwide labor guidelines, which can be both lengthy and expensive. Furthermore, establishing regional entities in brand-new regions can be a costly and suboptimal option, with options such as opening a foreign subsidiary or working with an expert work company (PEO) often charging up to 15% of the payroll. These difficulties have actually led to a substantial boost in trouble recruiting certified personnel, with 75% of companies 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 kinds of employment. It offers an end-to-end platform, from worker onboarding and continuous management to international payments and. It assists business with labor law compliance in the jurisdictions in which they operate, uses management of work advantages, and makes sure information privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading professional in payroll and workforce management. She co-founded after seeing the innovation space in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to participate in the complete webcast in order to receive 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 internet browser with the webcast study 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 hello and thank you for joining us today we’re thrilled to have you here as we start a journey of data to policy attaining
360 degree staff member compliance where we’ll dive into the necessary aspects of the employee compliance management design throughout the session we’ll explore real world challenges genuine local regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to safeguard your organization and workers while staying certified in an
Ever developing regulative environment in the everchanging world of company and financing guaranteeing compliance with payroll regulations is not just crucial but likewise a legal necessary from the moment of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance risks that have far-reaching repercussions however with a much deeper more nuanced understanding of their obligations organizations can not only navigate the complex landscape but also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to browse the complex Terrain of compliance whether you’re a seasoned P specialist a small business owner or someone brand-new to the field what I would like to do before we begin and I think it’s truly important
In our mission to enhance efficiency and accuracy in managing our international labor force, our international corporation turned to, a leading and labor force management software application. The shift intended to streamline the complex task of handling across various countries, currencies, and compliance policies.
One of the standout features of is its robust compliance management system. The software instantly updates itself to abide by ever-evolving tax and labor laws across numerous jurisdictions. This has been vital in making sure that our processes remain compliant in each country of operation.
is to state that the content here is illegal suggestions it is just for your information please consult your legal group needs to you have any concerns or concerns in relation to anything that we’ve discussed today our key take crucial takeaways by the end of the webinar will be an understanding of employee compliance risks how to work with ly with confidence how to simplify information management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
function as your hris or is sort of your core employee record um to handle that employee life process throughout their Journey with you as as an employee in addition to a payroll module we have to help you pay those staff members and compensate them and advantages Administration module that enables you to help manage the benefits you provide to your employees so truly excited to be here represent um bamb booy jar and speak about this subject um and I think from my point of view I’ll I’ll most likely offer a great deal of a concentrate on the United States side of things when we talk about sort of compliance so pleased to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to present yourself and tell the audience a little bit about papay international yes definitely thank you Ian hey there everyone I’m Gina dorelis I’m the Employment specialist supervisor.
at I handle the work Council in the US APAC EMA and Israel region I likewise function as us Council for I’m licensed in New York and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and workforce management as a Service labor force provider to workers serving in over.
160 nations okay thank you so both I feel completely 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 actually nice to actually see in the webinar chat where everyone’s in fact going to from today I can see that we have people in Las Vegas and Indiana currently so if you wish to continue tell where you are that would be absolutely wonderful whilst we simply await everyone else to type of like participate in there we go Chicago also well um so whil we’re doing that I’m awaiting everyone to type of join I’ll just run us through the agenda um today we are going to go over working with Talent new greater Details Management termination compliance and automation wow the chat has got really really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is fantastic so uh I’m hoping that we’re actually going to have some actually excellent commentary and concerns throughout the uh the webinar also alright so that’s the program then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of an employee and their data is Papaya Global Support Telephone diverse without fail and an.
Ever evolving relationship that begins the minute an individual signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to a number of crucial stages whilst we’re in fact you know that they’re utilized with us so on boarding everyday operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the worker has left your employment throughout the journey organizations are responsible for collecting saving protecting employee data in compliance with information privacy policies no matter where it is you’re operating all over the world it frequently includes implementing safe and secure data management systems and making sure strict adherence to local requirements to safeguard both the staff member and the company the advancement of employee data and management c.