A CFO’s Viewpoint on Papaya Global Training Youtube…
Papaya Global’s platform improves international workforce management for companies, making sure compliance with local regulations and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes global payroll operations, providing services with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of worldwide company operations, managing payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a worldwide company, I understand the crucial significance of efficient and certified payroll management. In our pursuit of excellence, we have actually welcomed innovative solutions to streamline our procedures, and one such transformative tool is Software application.
The Obstacle of Global Payroll:
International expansion produces diverse challenges, and payroll management is no exception. Differing tax policies, varying employment laws, and several currencies make it necessary for organizations to embrace advanced solutions to ensure precision, compliance, and efficiency in payroll processing.
Software application: A Comprehensive Option:
workers so it’s truly fundamental to guarantee that you’ve thought about from the beginning any post-termination limitations that you wish to put into the agreement of employment that they’re enforceable so that implies you require to really think of what it is you’re wanting to secure and why plainly Define what’s consisted of within the scope of that confidential information and resolve the duration of limitation post-determination that you want to use and be truly able to to justify that in relation to intellectual property the position really depends upon the type of copyright you’re looking to protect and likewise the jurisdiction so for example from a copyright viewpoint in the Netherlands the end customer is most likely to have the um copyright rights in a copyright that the employees produced who’s been under their supervision and control immediately nevertheless in somewhere like Poland for example that automated right may 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 okay thank you Elizabeth Steve was remaining on the topic of contracts Miss classified misclassifying staff members
Papaya Global Software application has actually emerged as a game-changer in the realm 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 actually experienced firsthand the positive effect of on our organization’s financial operations.
Unified International Payroll Processing:
allows our company to process payroll seamlessly throughout multiple nations. The platform’s unified approach permits constant payroll estimations, reducing mistakes and making sure compliance with local guidelines. This has actually considerably mitigated the risks associated with international payroll processing.
likewise crucial for if later someone says misclassification you have your file supported by the requisite documents which the right evaluation tools to reveal somebody that you had a thoughtful procedure and so what do you need to consist of because process it’s the who the what the where and the when who are you handling are you dealing with an individual 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 an employee so for example accounting
I.T engineering the creatives these all lend themselves more to that examination of being freelancer you know also uh where are they doing it can they work from anywhere or do they have to be on site and handled again another key element is the management and guidance of the uh worker and after that finally when is it a specific task is it a six-month project six years all of this is manageable however it needs to be documented and it has to be thoroughly um investigated so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out worldwide these tools take a questionnaire list for the employee the worker fills out and fills these questions out and so does completion customer or the recipient of the services they both put their information into the tool and after that it does an assessment waiting the different concerns due to the fact that not every jurisdiction has the exact same feeling about a few of these concerns some believe they’re more vital than others and it brings out 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 terms of some of the things you require to reinforce to make sure that you are considered that examination of uh independent professional or green where you were assessed as an as a independent contractor once that assessment is done all the requisite documents are underneath it so that if in the future there
Browsing the complexities of global employment laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in regulations across jurisdictions. This ensures that our payroll procedures adhere to the latest requirements, decreasing the danger of non-compliance and associated penalties.
Papaya Global Training Youtube and Time Cost Savings:
The software application’s automation abilities have actually significantly reduced the time and effort needed for payroll processing. Handbook data entry and repeated tasks have been minimized, allowing our finance group to focus on strategic efforts rather than administrative concerns. This has resulted in increased efficiency and performance within our monetary operations.
in one given that each state has its own policies Californians are some of the most strict an example is pay slips on a payslip in California the right info has to be on the payslip in the best format and in the ideal position if you remain in breach of of regulations for payslips the fines are provided per payslip so that’s each worker each pay slip will incur a great thanks Ray thank you Elizabeth a lot to worry to think about and we’re just 2 questions in and 10 minutes approximately working with in one country is difficult enough but when working with in a you understand on a global level it’s a completely various story you need to make certain that you’re up to date with present in addition to pending local labor laws Steve um how do you ensure and guarantee that the people 2.0 group is on top of an ever-changing landscape which your clients are completely supported and I’ll organize this into three essential things we carry out in primarily you need to have the ideal team so we hire a team of international experts in Employment Practices um that ex that team of professionals includes legal representatives it consists of payroll specialists it consists of HR professionals and these are people that not just understand the laws in these in these nations and areas however they likewise know the languages they know the local practices they understand the cultures and it’s important to have that right team and really have the group 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 accurate and timely financial information is crucial for decision-making. The platform’s reporting capabilities empower me to make educated strategic decisions based on real-time insights into our global payroll information.
application and its scope and the way that it applies to employment law in practice can be evaluated through the judicial system by way of case law examples of that would be the gotten rights regulation otherwise referred to as the 2p regulations in the UK the working time guidelines which has actually had numerous strands of that legislation tested particularly around vacation pay and obviously as Kathy’s going to come on to discuss later work status which there’s been several precedence set over the years so I believe it’s truly that continuous development of the work law landscape that you really require to browse when when operating in Europe alright thank you Elizabeth Ray what about you from your individual experience while crossing the pond as mentioned each nation has various guidelines however the United States is basically 50 nations
Scalability for Service Growth:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software application effortlessly accommodates changes in our labor force and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the developing requirements of our global company.
International Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Glimpse who is our senior vice president of client services and I would state individually and collectively these 3 people have Years of experience in in work law and international Employment 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 also have one of our own Stars delete share head of Global Solutions at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business for around four and a half years as head of Collaborations I have actually established Papaya’s network of in-country Partners in over 160 areas on a personal element and related to our subject today I’ve had the opportunity to relocate and operate in three different countries it is the business’s duty to guarantee my protection while residing in a foreign country compliance with local laws and guidelines is important for me or anyone else as an expat or as a local so today we have actually invited our trusted Partners people 2.0 to demonstrate the value of regional
knowledge when business Go International thank you and delight in alright thank you as I stated let’s move on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking about we’ll talk about the truths a company requires to consider when opening a brand-new entity and expanding into brand-new countries along with keeping things going we’ll cover aspects such as local guidelines considerations when working with compliance essential challenges payments and what not to do it’s one of the most crucial things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a company grows the more they require to understand and handle understanding what to do in each brand-new situation as it rises is important on many levels understanding local guidelines and regional laws along with company practices helps alleviate Associated and worldwide expansion papaya through our regional experts can navigate potential threats such as intellectual property protection information personal privacy security issues ensuring the company’s operations remain certified and safe tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has proven to be an indispensable possession in our quest for efficient and compliant global payroll management. As the CFO of a worldwide business, I am confident in advising Papaya Global to companies looking for to enhance their payroll procedures, boost compliance, and attain higher efficiency in handling their global labor force. The software application’s innovative features and commitment to excellence align with our tactical goals, making it an essential part of our monetary operations.
I discover time and time again the workers typically misclassified unknowingly they don’t understand the conditions of work or contract and are told by the client why it’s optimum primarily to the client why you need to be employed or taken part in this style the employee may owe taxes and Social Security to the authorities the future pension and health care privileges of the employee can be affected and numerous times it can be years before this all falls out and by that time it’s far too late years have actually gone by they haven’t contributed to pensions And so on so it’s a big effect that they never understood they were walking into you couldn’t agree with you more if you say the UK for instance hmrc can go back as much as 10 years um Kathy business are taking out insurance coverage versus misclassification however typically premiums are just covering the expense of legal costs whilst the typical claim assessed versus companies relates to to 40 or 50 percent of the base salary of employee is there any point in securing insurance and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes penalty and interest in most cases I have not seen it a minimum of so uh the the other location that I do think if you managed to get the protection what we are saying is is that if your compliance program is not up to pack you could be denied protection on the basis of the fact that you were not in compliance with laws um in the UK
Expense Factors to consider and Papaya Global Training Youtube …
The detailed features of come at a cost,
Over the past few decades, the labor force has actually undergone a considerable transformation with the development of remote work, which has gotten rid of geographical constraints on hiring. This has allowed organizations to recruit skill from all over the world, enabling them to put together the very best possible group for each role. As a result, staff members have gotten greater flexibility to work from home and increase their profits without needing to transfer to expensive areas or commute long distances. According to a 2022 survey, 87% of employees who have the choice to work from another location pick to do so. The COVID-19 pandemic, combined with improvements in business connectivity software, has actually even more accelerated the shift towards remote work, even in industries that were initially hesitant to adopt the pattern.
insights are important to us and and your fellow participants so first things initially though um let’s be familiar with everybody my name is Ian Charles and I have actually operated in payroll for the last 25 years I’ve had roles in all sort of Industries retail and Appeal to Aerospace in all kinds of organizations start-up to matrixed environments across the globe I supplied leadership and strategy to populations of more than 100,000 staff members on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Worldwide I work throughout business man maning and constructing external relationships supporting Business clients and solutions and acting as a consultant I ‘d like to present our first Greg um visitor 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 said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal team and in fact work really carefully with our um HR department too to deal with different legal and HR matters that show up so actually delighted to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our objective is to set you as HR experts totally free to do fantastic
While Papaya Global offers combinations with various HR and financing systems, the application procedure was not without difficulties. Incorporating the software application with our existing facilities needed extra personalization, causing some delays in the initial rollout.
Paying FAQs Papaya Global Training Youtube 2024
and some smaller subsidiaries within our organization found the rates to be on the higher side. As a worldwide business, stabilizing the requirement for advanced features with spending plan constraints became a fragile workout.
Client Assistance Action Time:
There were circumstances where our teams dealt with concerns that required prompt help. However, the reaction time from’s consumer assistance group was not constantly as quick as desired, causing periodic hold-ups in problem resolution.
Our implementation of included a phased method. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This permitted us to determine and resolve combination obstacles early on. As the software application ended up being more ingrained in our operations, we slowly broadened its use to cover our entire international labor force.
The automated functions structured our payroll processes, decreasing the time invested in manual computations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our teams end up being competent users of the software, maximizing its potential for our organization.
Business that staff member workers throughout numerous countries frequently face complex difficulties when it pertains to handling their labor force. Among the biggest hurdles is combining different data streams and adhering to varied regional and national labor regulations, which can be both lengthy and expensive. Additionally, establishing regional entities in brand-new areas can be a costly and suboptimal choice, with alternatives such as opening a foreign subsidiary or employing a professional employment organization (PEO) often charging up to 15% of the payroll. These challenges have actually led to a substantial increase in difficulty recruiting qualified personnel, with 75% of employers reporting this concern 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.
offers a solution supporting all kinds of employment. It offers an end-to-end platform, from staff member onboarding and ongoing management to global payments and. It assists business with labor law compliance in the jurisdictions in which they run, provides management of work benefits, and makes sure data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading specialist in payroll and workforce management. She co-founded after seeing the technology gap in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please be sure to attend the total webcast in order to receive your credits if you have any concerns during the webcast please click the Q&A tab in your webinar controls and type the there a brand-new tab will open in your browser with the webcast survey please be sure to finish it as soon as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hi and thank you for joining us today we’re enjoyed have you here as we start a journey of data to policy achieving
360 degree employee compliance where we’ll dive into the important elements of the worker compliance management design throughout the session we’ll explore real world obstacles genuine regional policies best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your company and workers while remaining certified in an
Ever evolving regulative environment in the everchanging world of organization and finance ensuring compliance with payroll policies is not only vital however likewise a legal necessary from the moment of working with to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance threats that have far-reaching consequences however with a deeper more nuanced understanding of their commitments organizations can not only browse the intricate landscape but also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools essential to browse the complex Terrain of compliance whether you’re an experienced P specialist a small company owner or someone new to the field what I would like to do before we begin and I think it’s really important
In our mission to boost efficiency and precision in managing our worldwide labor force, our multinational corporation turned to, a leading and workforce management software application. The transition intended to simplify the complex job of handling across different nations, currencies, and compliance regulations.
Among the standout functions of is its robust compliance management system. The software automatically updates itself to follow ever-evolving tax and labor laws throughout numerous jurisdictions. This has actually been important in guaranteeing that our processes stay certified in each nation of operation.
is to state that the content here is illegal advice it is simply for your info please consult your legal group ought to you have any questions or issues in relation to anything that we’ve talked about today our key take crucial takeaways by the end of the webinar will be an understanding of worker compliance dangers how to work with ly with confidence how to streamline 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 type of your core staff member record um to handle that staff member life cycle throughout their Journey with you as as an employee in addition to a payroll module we have to assist you pay those employees and compensate them and benefits Administration module that permits you to assist handle the advantages you supply to your staff members so truly delighted to be here represent um bamb booy jar and discuss this topic um and I think from my perspective I’ll I’ll most likely offer a lot of a concentrate on the United States side of things when we discuss kind of compliance so delighted to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay global yes definitely thank you Ian hello everybody I’m Gina dorelis I’m the Employment expert manager.
at I manage the work Council in the US APAC EMA and Israel area I likewise work as us Council for I’m certified in New york city and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and labor force management as a Service work force provider to workers serving in over.
160 countries all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were type of like going through the introduction 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 individuals in Las Vegas and Indiana already so if you wish to continue inform where you are that would be definitely wonderful whilst we simply wait for everybody else to type of like take part there we go Chicago as well well um so whil we’re doing that I’m awaiting everyone to kind of join I’ll just run us through the program um today we are going to go over working with Talent new greater Info Management termination compliance and automation wow the chat has actually got truly truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is great so uh I’m hoping that we’re really going to have some truly terrific commentary and concerns throughout the uh the webinar too okay 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 staff member and their data is Papaya Global Training Youtube multifaceted without fail and an.
Ever developing relationship that begins the moment an individual joins an organization it continues throughout their work and Beyond this journey can be divided into k to a number of crucial phases whilst we’re actually you understand that they’re utilized with us so on boarding everyday operations compensation and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the staff member has actually left your employment throughout the journey companies are accountable for collecting saving protecting worker information in compliance with data personal privacy regulations no matter where it is you’re running worldwide it frequently involves executing safe and secure data management systems and making sure stringent adherence to local requirements to safeguard both the staff member and the company the advancement of worker information and management c.