A CFO’s Viewpoint on Papaya Global Telephone Support…
The platform makes it possible for business to manage their global workforce and abide by local work policies and tax laws. Papaya Global offers a range of services, consisting of payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is developed to simplify the intricacies of international 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 city, London, and Kiev.
In the vibrant landscape of global organization operations, handling payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a global company, I understand the vital value of effective and compliant payroll management. In our pursuit of excellence, we have actually accepted innovative solutions to enhance our processes, and one such transformative tool is Software.
The Difficulty of International Payroll:
Worldwide expansion brings about varied difficulties, and payroll management is no exception. Differing tax regulations, varying employment laws, and several currencies make it vital for organizations to adopt sophisticated options to make sure accuracy, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Service:
workers so it’s actually basic to make sure that you have actually considered from the start any post-termination restrictions that you want to put into the contract of work that they’re enforceable so that means you need to really consider what it is you’re aiming to safeguard and why plainly Define what’s included within the scope of that confidential information and resolve the period of constraint post-determination that you wish to use and be actually able to to justify that in relation to intellectual property the position truly depends upon the kind of intellectual property you’re wanting to protect and likewise the jurisdiction so for example 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 workers produced who’s been under their guidance and control immediately nevertheless in someplace like Poland for instance that automatic right may not be there and that assignment would require to stream through the chain uh contractually so it actually depends on the jurisdiction and the kind of IP fine thank you Elizabeth Steve was staying on the subject of contracts Miss categorized misclassifying employees
Papaya Global Software application has become a game-changer in the world of worldwide payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly interface. As the CFO, I have experienced firsthand the favorable effect of on our company’s monetary operations.
Unified Global Payroll Processing:
enables our company to procedure payroll perfectly across several nations. The platform’s unified method enables consistent payroll calculations, decreasing mistakes and ensuring compliance with regional policies. This has actually significantly alleviated the threats related to global payroll processing.
also essential for if later someone says misclassification you have your file supported by the requisite documents and that the ideal assessment tools to show somebody that you had a thoughtful procedure therefore what do you need to include in that procedure it’s the who the what the where and the when who are you dealing with are you handling a private or are you handling an individual 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 contractor than a worker so for example accounting
I.T engineering the creatives these all lend themselves more to that evaluation of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they need to be on website and handled once again another key aspect is the management and guidance of the uh worker and after that finally when is it a particular job is it a six-month task 6 years all of this is manageable but it has to be recorded and it needs to be thoroughly um examined 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 internationally these tools take a survey list for the employee the worker completes and fills these questions out and so does completion customer or the recipient of the services they both put their info into the tool and then it does an examination waiting the various concerns because not every jurisdiction has the exact same sensation about a few of these concerns some believe they’re more important 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 probably help you with that in terms of a few of the things you require to boost to ensure that you are given that evaluation of uh independent professional or green where you were examined as an as a independent professional once that evaluation is done all the requisite documents are below it so that if in the future there
Navigating the complexities of global work laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our company updated with changes in policies across jurisdictions. This ensures that our payroll processes follow the latest requirements, minimizing the threat of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal companies who assist us keep our databases entirely approximately date and we likewise contact we need to when we see an uncommon or or especially intricate circumstances alright thanks Steve I can just see a fast question in the Q a window yes the session will be taped and sent to participants afterwards um moving back to to the webinar itself Ray employer of record is managed differently worldwide and the German law for example it’s classed as employee leasing can you shed any light on a few of the special considerations for nations and where the eor model isn’t managed yes Ian worker leasing or labor leasing as it’s likewise called which prevails in numerous countries especially in Europe enforces stringent regulations on items such as the length of project it likewise designates workers to collective bargaining contracts that gives them rights and advantages however even in the countries that do not have those stringent regulations for example the UK Canada and the nordics there are guidelines for each country and each worker is treated the like all the other workers in that nation and all those regulations require to be abided by fine thank you Ray um Kathy moving I would state to yourself what do companies require to consider when identifying contract status to protect themselves and the rights of hires what are the benefits and drawbacks of working with professionals and Freelancers versus long-term staff members so undoubtedly the the advantage of contractors versus staff members is the the versatility for both the worker and for the employer um however I can’t stress enough how crucial it is to have a consistent thorough and a well-documented compliance
Papaya Global Telephone Support and Time Cost Savings:
The software application’s automation capabilities have considerably reduced the time and effort required for payroll processing. Manual data entry and repeated jobs have actually been minimized, permitting our finance group to focus on tactical efforts instead of administrative concerns. This has resulted in increased performance and efficiency within our financial operations.
in one because each state has its own policies Californians are some of the most stringent an example is pay slips on a payslip in California the right information needs to be on the payslip in the best format and in the best position if you’re in breach of of regulations for payslips the fines are released per payslip so that’s each worker each pay slip will incur a great thanks Ray thank you Elizabeth a lot to fret to consider and we’re only two questions in and 10 minutes or two employing in one nation is challenging enough however when hiring in a you know on a worldwide level it’s a totally different story you need to make certain that you depend on date with current as well as pending regional labor laws Steve um how do you ensure and ensure that individuals 2.0 team is on top of an ever-changing landscape which your clients are fully supported and I’ll organize this into three essential things we perform in firstly you require to have the best team so we work with a team of worldwide experts in Employment Practices um that ex that group of professionals consists of lawyers it consists of payroll professionals it consists of HR specialists and these are people that not only know the laws in these in these countries and areas but they also know the languages they know the local practices they understand the cultures and it is essential to have that best group and truly have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to accurate and timely financial data is crucial for decision-making. The platform’s reporting capabilities empower me to make informed strategic decisions based on real-time insights into our international payroll information.
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 gotten rights instruction otherwise called the 2p policies in the UK the working time guidelines which has had numerous hairs of that legislation evaluated particularly 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 throughout the years so I think it’s really that consistent development of the work law landscape that you truly need to navigate when when working in Europe fine thank you Elizabeth Ray what about you from your individual experience while crossing the pond as pointed out each country has various policies but the United States is basically 50 nations
Scalability for Organization Growth:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into new markets, the software effortlessly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll facilities can adapt to the evolving needs of our international company.
International Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Look who is our senior vice president of customer service and I would state separately and collectively these three individuals have Decades of experience in in employment law and international Employment Practices so thank you it’s an enjoyment 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 likewise have among our own Stars delete share head of Global Solutions at papaya Global inform us about yourself thank you Elin Ian hello my name is Elite I have actually been with the company for around 4 and a half years as head of Collaborations I have actually established 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 chance to move and operate in three various nations it is the company’s duty to guarantee my defense while residing in a foreign country compliance with regional laws and policies is important for me or anybody else as an expat or as a regional so today we have welcomed our trusted Partners people 2.0 to show the importance of regional
know-how when companies Go Worldwide thank you and enjoy all right 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’ve been thinking of we’ll go over the truths a company requires to consider when opening a brand-new entity and expanding into new nations along with keeping things going we’ll cover elements such as regional regulations factors to consider when hiring compliance essential challenges payments and what not to do it’s one of the most important things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a business grows the more they need to comprehend and manage knowing what to do in each brand-new situation as it rises is necessary on many levels understanding regional policies and regional laws along with company practices assists reduce Associated and international growth papaya through our local experts can browse prospective risks such as intellectual property protection data privacy security problems guaranteeing the company’s operations remain compliant and protected tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software application has actually proven to be an indispensable property in our mission for effective and certified worldwide payroll management. As the CFO of a worldwide company, I am positive in recommending Papaya Global to companies seeking to enhance their payroll processes, enhance compliance, and accomplish higher performance in managing their international labor force. The software’s innovative features and commitment to excellence line up with our tactical goals, making it an important part of our monetary operations.
I find time and time again the workers typically misclassified unknowingly they do not understand the conditions of employment or contract and are told by the client why it’s most advantageous mainly to the customer why you ought to be employed or taken part in this style the employee may owe taxes and Social Security to the authorities the future pension and healthcare opportunities of the worker can be impacted and numerous times it can be years before this all falls out and by that time it’s far too late years have passed they haven’t added to pensions And so on so it’s a big impact that they never knew they were strolling into you couldn’t agree with you more if you say the UK for example hmrc can go back as much as 10 years um Kathy business are getting insurance coverage versus misclassification however usually premiums are just covering the cost of legal fees whilst the average claim examined versus employers corresponds to to 40 or 50 percent of the base pay 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 penalty and interest in most cases I haven’t 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 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 Considerations and Papaya Global Telephone Support …
The thorough functions of come at an expense,
Over the past couple of years, the workforce has actually gone through a significant change with the development of remote work, which has actually gotten rid of geographical constraints on hiring. This has actually allowed organizations to recruit talent from all over the world, enabling them to put together the best possible group for each function. As a result, staff members have actually acquired higher flexibility to work from home and increase their incomes without having to transfer to costly locations or commute cross countries. According to a 2022 survey, 87% of staff members who have the choice to work from another location choose to do so. The COVID-19 pandemic, combined with advancements in enterprise connectivity software, has actually even more sped up the shift towards remote work, even in industries that were initially hesitant to adopt the trend.
insights are valuable to us and and your fellow participants so first things initially though um let’s learn more about everybody my name is Ian Charles and I’ve operated in payroll for the last 25 years I’ve had roles in all sort of Industries retail and Charm to Aerospace in all kinds of companies startup to matrixed environments across the globe I supplied leadership and strategy to populations of more than 100,000 staff members on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work across business guy maning and constructing external relationships supporting Enterprise customers and services and functioning as a consultant I ‘d like 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 team and in fact work very carefully with our um HR department also to handle numerous legal and HR matters that show up so truly thrilled 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 totally free to do excellent
Although Papaya Global offers integrations with various HR and financing systems, we encountered some obstacles during the integration process. Personalizing the software to align with our existing facilities showed to be more complex than anticipated, leading to delays in the preliminary rollout.
The substantial features used by Papaya Global come at a cost, which some of our smaller sized subsidiaries found to be prohibitively expensive. As a worldwide company, we needed to carefully weigh the requirement for innovative performance versus budget restraints.
Support Response Time:
On occasion, our groups experienced concerns that required immediate support. However, the reaction time from Papaya Global’s consumer assistance team was not constantly as prompt as we would have liked, resulting in delays in dealing with those problems.
Our application of included a phased method. We began by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing procedures. This enabled us to recognize and deal with combination obstacles early on. As the software became more ingrained in our operations, we gradually broadened its use to cover our entire worldwide labor force.
The automated features structured our payroll procedures, lowering the time invested in manual estimations and compliance tracking. Routine training sessions and continuous support from Papaya helped our groups end up being skilled users of the software, maximizing its capacity for our company.
Companies that staff member workers across several nations frequently face elaborate challenges when it comes to managing their workforce. One of the most significant difficulties is combining various data streams and adhering to diverse local and national labor guidelines, which can be both time-consuming and pricey. Furthermore, establishing regional entities in new regions can be a costly and suboptimal option, with alternatives such as opening a foreign subsidiary or hiring an expert work organization (PEO) frequently charging up to 15% of the payroll. These obstacles have actually caused a substantial boost in difficulty hiring qualified workers, with 75% of employers reporting this problem in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
provides a solution supporting all forms of work. It offers an end-to-end platform, from worker onboarding and ongoing management to worldwide payments and. It assists companies with labor law compliance in the jurisdictions in which they operate, uses management of work benefits, 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 expert in payroll and labor force management. She co-founded after seeing the technology space in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to participate in the complete webcast in order to receive your credits if you have any concerns during 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 be sure to complete 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 regulation accomplishing
360 degree employee compliance where we’ll dive into the vital aspects of the employee compliance management design throughout the session we’ll check out real life difficulties genuine regional guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to secure your organization and staff members while remaining compliant in an
Ever developing regulatory environment in the everchanging world of company and finance making sure compliance with payroll guidelines is not just important but likewise a legal essential from the minute of working with to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance dangers that have far-reaching consequences nevertheless with a much deeper more nuanced understanding of their responsibilities companies can not only 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 navigate the complex Terrain of compliance whether you’re a seasoned P specialist a small company owner or someone brand-new to the field what I wish to do before we begin and I believe it’s actually important
In our quest to enhance efficiency and accuracy in managing our worldwide labor force, our multinational corporation turned to, a leading and workforce management software application. The transition intended to streamline the complex task of handling across numerous countries, currencies, and compliance guidelines.
Among the standout features of is its robust compliance management system. The software application instantly updates itself to adhere to ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been vital in ensuring that our processes stay certified in each country of operation.
is to state that the material here is not legal guidance it is merely for your info please consult your legal team should you have any questions or concerns in relation to anything that we have actually talked about today our secret take crucial takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to hire ly with self-confidence how to simplify information 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 kind of your core worker record um to handle that employee 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 workers and compensate them and benefits Administration module that allows you to help handle the advantages you provide to your staff members so truly delighted to be here represent um bamb booy jar and speak about this topic um and I think from my viewpoint I’ll I’ll probably offer a lot of a focus on the US side of things when we talk about type 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 introduce yourself and inform the audience a little bit about papay global yes definitely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment specialist supervisor.
at I manage the employment Council in the US APAC EMA and Israel region I also serve as us Council for I’m certified 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 labor force provider to workers serving in over.
160 nations all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the introduction so it’s truly actually great to in fact see in the webinar chat where everybody’s really attending from today I can see that we have people in Las Vegas and Indiana already so if you wish to carry on tell where you are that would be definitely fantastic whilst we just wait for everybody 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 everybody to kind of join I’ll just run us through the program um today we are going to talk about working with Skill brand-new greater Info Management termination compliance and automation wow the chat has actually got actually really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely everywhere which is wonderful so uh I’m hoping that we’re in fact going to have some really fantastic commentary and questions throughout the uh the webinar also all right so that’s the agenda then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of an employee and their data is Papaya Global Telephone Support diverse without fail and an.
Ever developing relationship that begins the moment an individual signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to a number of essential phases whilst we’re actually you know that they’re used with us so on boarding daily operations compensation and advantages expert advancement then we get to the offboarding and even advocacy so it even occurs after the employee has actually left your employment throughout the journey companies are responsible for collecting saving safeguarding staff member information in compliance with information privacy regulations no matter where it is you’re operating around the world it often involves carrying out protected information management systems and ensuring rigorous adherence to regional requirements to safeguard both the staff member and the organization the development of staff member information and management c.