A CFO’s Viewpoint on Papaya Global Calendar 19/20…
The platform allows companies to manage their global workforce and abide by local employment policies and tax laws. Papaya Global offers a variety of services, including payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is designed to simplify the complexities of worldwide payroll and offer real-time exposure and control over payroll operations. The company 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 worldwide business operations, handling payroll across borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of an international company, I comprehend the vital value of efficient and compliant payroll management. In our pursuit of excellence, we have welcomed innovative options to enhance our procedures, and one such transformative tool is Software application.
The Obstacle of Worldwide Payroll:
Worldwide growth causes varied difficulties, and payroll management is no exception. Differing tax regulations, differing work laws, and several currencies make it essential for organizations to embrace sophisticated solutions to make sure accuracy, compliance, and performance in payroll processing.
Software application: A Comprehensive Option:
employees so it’s really basic to make sure that you have actually considered from the outset any post-termination restrictions that you wish to put into the agreement of work that they’re enforceable so that suggests you require to actually consider what it is you’re wanting to protect and why plainly Specify what’s included within the scope of that secret information and address the duration of constraint post-determination that you wish to apply and be truly able to to justify that in relation to intellectual property the position really depends upon the type of copyright you’re aiming to secure and also the jurisdiction so for example from a copyright viewpoint in the Netherlands completion customer is most 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 automatic right might not exist which project would require to flow through the chain uh contractually so it actually depends upon the jurisdiction and the type of IP fine thank you Elizabeth Steve was remaining on the subject of agreements Miss categorized misclassifying workers
Papaya Global Software has become a game-changer in the world of global payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, user-friendly user interface. As the CFO, I have actually seen firsthand the favorable effect of on our organization’s monetary operations.
Unified Worldwide Payroll Processing:
allows our business to process payroll seamlessly throughout numerous countries. The platform’s unified method permits constant payroll calculations, decreasing errors and making sure compliance with regional regulations. This has substantially reduced the risks associated with international payroll processing.
likewise crucial for if later on someone states misclassification you have your file supported by the requisite documents and that the best evaluation tools to show someone that you had a thoughtful process and so what do you need to include in that 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 a personal Service Corporation and how are they running what are they doing is it the kind of work that lends itself more to being an independent specialist than a staff member so for example accounting
I.T crafting the creatives these all lend themselves more to that assessment 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 managed once again another crucial element is the management and guidance of the uh employee and after that lastly when is it a specific job is it a six-month project six years all of this is workable however it needs to be documented and it needs to be completely 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 worldwide these tools take a questionnaire list for the employee the employee submits and fills these questions out therefore does completion client or the recipient of the services they both put their details into the tool and after that it does an assessment waiting the various questions because not every jurisdiction has the very same feeling about some of these concerns some believe they’re more important than others and it brings out a red yellow or green red you’re probably an employee yellow you’re on the cusp we can most likely assist you with that in terms of some of the things you require to boost to make sure that you are given that assessment of uh independent specialist or green where you were examined as an as a independent contractor once that assessment is done all the requisite documents are underneath it so that if later there
Navigating the complexities of worldwide work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization current with changes in regulations throughout jurisdictions. This makes sure that our payroll procedures abide by the latest requirements, lessening the threat of non-compliance and associated charges.
Papaya Global Calendar 19/20 and Time Savings:
The software’s automation abilities have actually substantially decreased the time and effort needed for payroll processing. Manual data entry and recurring jobs have actually been reduced, enabling our finance group to focus on tactical initiatives rather than administrative problems. This has resulted in increased performance and efficiency within our financial operations.
in one given that each state has its own regulations Californians are a few of the most rigorous an example is pay slips on a payslip in California the right details has to be on the payslip in the ideal format and in the ideal position if you remain in breach of of guidelines for payslips the fines are provided per payslip so that’s each worker each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to fret to think of and we’re just 2 questions in and 10 minutes or two hiring in one country is hard enough however when hiring in a you understand on a worldwide level it’s a completely different story you need to ensure that you depend on date with current in addition to pending regional labor laws Steve um how do you make sure and make sure that individuals 2.0 team is on top of an ever-changing landscape which your clients are totally supported and I’ll organize this into 3 crucial things we perform in first and foremost you require to have the right group so we employ a team of international specialists in Employment Practices um that ex that group of specialists includes attorneys it consists of payroll specialists it includes HR professionals and these are people that not only know the laws in these in these countries and areas but they also understand the languages they understand the regional practices they understand the cultures and it’s important to have that best group and genuinely 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 prompt financial data is vital for decision-making. The platform’s reporting abilities empower me to make informed tactical choices based on real-time insights into our worldwide payroll data.
application and its scope and the way that it applies to work law in practice can be tested through the judicial system by way of case law examples of that would be the gotten rights directive otherwise called the 2p regulations in the UK the working time policies which has had numerous hairs of that legislation checked especially around vacation pay and of course as Kathy’s going to come on to discuss later on employment status which there’s been numerous precedence set throughout the years so I believe it’s really that constant advancement of the work law landscape that you truly need to navigate when when operating in Europe alright thank you Elizabeth Ray what about you from your individual experience while crossing the pond as mentioned each country has different guidelines however the United States is basically 50 countries
Scalability for Organization Development:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software application seamlessly accommodates changes in our labor force and payroll requirements. This scalability ensures that our payroll infrastructure can adjust to the developing requirements of our global company.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Gander who is our senior vice president of client services and I would say individually and jointly these three individuals have Years of experience in in employment law and international Work Practices so thank you it’s a pleasure to be with everyone 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 erase share head of Global Provider at papaya International inform us about yourself thank you Elin Ian hey there 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 developed Papaya’s network of in-country Partners in over 160 locations on an individual aspect and related to our subject today I have actually had the chance to transfer and operate in 3 various nations it is the business’s duty to ensure my security while residing in a foreign nation compliance with local laws and policies is vital for me or anyone else as an expat or as a regional so today we have invited our relied on Partners people 2.0 to show the significance of regional
knowledge when business Go International thank you and take pleasure in alright thank you as I stated let’s proceed to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you have actually been thinking of we’ll talk about the truths a business needs to think about when opening a new entity and expanding into new nations in addition to keeping things going we’ll cover elements such as regional policies considerations when hiring compliance key challenges payments and what not to do it is among the most essential things remembering what not to do um operating on a worldwide level is not for the faint-hearted the larger a business grows the more they require to comprehend and handle understanding what to do in each new circumstance as it increases is important on numerous levels comprehending regional policies and regional laws as well as organization practices helps mitigate Associated and worldwide expansion papaya through our regional experts can navigate potential risks such as copyright defense information privacy security issues guaranteeing the business’s operations remain certified and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually proven to be an indispensable property in our mission for effective and compliant global payroll management. As the CFO of a worldwide company, I am confident in recommending Papaya Global to organizations looking for to simplify their payroll procedures, enhance compliance, and attain greater performance in handling their international workforce. The software application’s innovative features and dedication to excellence align with our strategic goals, making it an important part of our monetary operations.
publicly announced and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly announced settlements there’s also significant legal costs there’s there’s other charges there’s other costs behind that as well so the overall cost can be really considerable in the 10s of millions of dollars or more and and those quantities are growing uh the reason that companies are getting it so wrong is truly simply the guidelines are complicated and they’re changing all the time believe ir-35 in the UK which has been an ongoing development for a number of years now and and still a lot of unpredictability amongst business on what it really means and how you deal with it most employers are merely not familiar with the guidelines and and act as if the the rules are the same everywhere which they’re not so so encourage you to to be really proactive as you’re engaging uh workers from a classification point of view alright thank you Stephen and moving back to yourself Ray it’s not only the business that suffers in the long run what results can this have on the staff member Papaya Global Calendar 19/20 particularly when it concerns their own tax liabilities social security and benefits for instance jury and obviously the employees the other side of the coin
I discover time and time again the workers typically misclassified unknowingly they do not comprehend the conditions of employment or contract and are told by the customer why it’s most advantageous generally to the client why you should be utilized or taken part in this style the worker may owe taxes and Social Security to the authorities the future pension and health care opportunities of the employee can be affected and numerous times it can be years before this all falls out and by that time it’s too late years have actually gone by they have not added to pensions And so on 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 example hmrc can go back as much as 10 years um Kathy business are getting insurance against misclassification however typically premiums are only covering the cost of legal costs whilst the average claim evaluated versus employers corresponds to to 40 or 50 percent of the base pay of employee exists any point in getting insurance coverage and what is the alternative yeah to your point um you do need to read the fine print it is not covering the taxes charge and interest for the most part I have not seen it a minimum of so uh the the other area that I do believe if you managed to get the coverage 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 truth that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Calendar 19/20 …
The thorough features of come at an expense,
Recent years have seen a significant change to the workforce as the increase of remote work has broken down geographical barriers to working with. Services can now hire staff from anywhere worldwide, enabling them to access the best readily available talent for any offered function. This gives employees more liberty to work from home and increase their earnings without relocating to expensive locations or travelling long distances. A 2022 survey discovered that 87% of workers who have the possibility to work remotely take that opportunity. The outbreak of COVID-19, in conjunction with brand-new business connection software application, accelerated the transfer to remote work, including in industries formerly hesitant to accept the pattern.
insights are valuable to us and and your fellow attendees so first things first 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 have actually had roles in all type of Industries retail and Charm to Aerospace in all kinds of organizations start-up 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 countries today I’m the perel strategist for papaya
Worldwide I work throughout the business male maning and building external relationships supporting Business clients and solutions and serving as an advisor I want to present our very 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 really work very closely with our um HR department also to handle various legal and HR matters that turn up so really thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our mission is to set you as HR specialists totally free to do great
While Papaya Global offers integrations with numerous HR and finance systems, the execution process was not without difficulties. Incorporating the software application with our existing facilities required extra customization, resulting in some delays in the initial rollout.
Paying FAQs Papaya Global Calendar 19/20 2024
and some smaller subsidiaries within our organization discovered the pricing to be on the greater side. As a global company, balancing the need for innovative functions with spending plan restrictions ended up being a fragile workout.
Client Support Response Time:
There were circumstances where our teams dealt with concerns that required timely help. Nevertheless, the response time from’s customer support team was not constantly as fast as wanted, resulting in periodic delays in issue resolution.
Our implementation of included a phased method. We began by onboarding a few subsidiaries to test the system’s compatibility with our existing procedures. This enabled us to determine and resolve combination obstacles early on. As the software application became more instilled in our operations, we slowly expanded its use to cover our whole international labor force.
The automated functions structured our payroll procedures, lowering the time invested in manual estimations and compliance tracking. Regular training sessions and ongoing support from Papaya helped our teams become skilled users of the software application, maximizing its capacity for our organization.
However, paying a labor force can be intricate. It is especially challenging for business who employ staff throughout multiple countries, as they should constantly combine various information streams, manually track regional and nationwide labor and regulations, and spend important time and resources to establish regional entities in new areas. These companies are confronted with suboptimal, costly options, like opening a foreign subsidiary or hiring an expert employment company, which is a regional firm that works with staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported problem recruiting qualified workers, an increase of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is predicted to reach $50.4 billion by 2030.
uses 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 helps companies with labor law compliance in the jurisdictions in which they run, uses management of employment benefits, and makes sure data 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 workforce management. She co-founded after seeing the technology gap in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to participate in the total webcast in order to get your credits if you have any questions 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 browser with the webcast study please make certain to complete it as quickly as the webcast has actually 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 thrilled to have you here as we embark on a journey of information to regulation achieving
360 degree employee compliance where we’ll dive into the important elements of the staff member compliance management model throughout the session we’ll explore real life obstacles real regional guidelines best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your organization and employees while staying compliant in an
Ever evolving regulatory environment in the everchanging world of company and financing guaranteeing compliance with payroll guidelines is not only crucial but likewise a legal vital 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 significant repercussions nevertheless with a deeper more nuanced understanding of their responsibilities companies can not just browse the elaborate landscape but likewise proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools necessary to navigate the complex Terrain of compliance whether you’re a seasoned P professional a small company owner or someone brand-new to the field what I wish to do before we start and I think it’s truly essential
In our quest to enhance efficiency and accuracy in handling our international labor force, our multinational corporation turned to, a leading and labor force management software. The shift aimed to streamline the complex task of managing throughout numerous countries, currencies, and compliance policies.
Among the standout functions of is its robust compliance management system. The software instantly updates itself to adhere to ever-evolving tax and labor laws throughout numerous jurisdictions. This has been invaluable in ensuring that our processes stay certified in each nation of operation.
is to state that the content here is not legal suggestions it is merely for your info please consult your legal group should you have any concerns or concerns in relation to anything that we’ve talked about today our secret take key takeaways by the end of the webinar will be an understanding of worker compliance dangers how to hire ly with confidence how to streamline 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 manage 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 staff members and compensate them and advantages Administration module that enables you to help handle the benefits you provide to your staff members so actually delighted to be here represent um bamb booy jar and talk about this topic um and I guess from my perspective I’ll I’ll probably provide a great deal of a focus on the United States side of things when we speak about kind of compliance so happy to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and inform the audience a little bit about papay global yes definitely thank you Ian hi everybody I’m Gina dorelis I’m the Employment professional supervisor.
at I manage the employment Council in the United States APAC EMA and Israel region I likewise function as us Council for I’m certified in New York and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and labor force management as a Service work force company to workers serving in over.
160 countries okay thank you so both I feel completely underqualified sitting here with you both well I forgot to point out as we were sort of like going through the introduction so it’s truly actually great to really see in the webinar chat where everybody’s really going to from today I can see that we have people in Las Vegas and Indiana currently so if you want to continue inform where you are that would be definitely wonderful whilst we just await everyone else to type of like take part there we go Chicago as well well um so whil we’re doing that I’m waiting on everyone to type of join I’ll simply run us through the program um today we are going to talk about working with Skill 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 absolutely all over which is wonderful so uh I’m hoping that we’re in fact going to have some actually great commentary and questions throughout the uh the webinar as well fine so that’s the program then what I ‘d like to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their data is Papaya Global Calendar 19/20 multifaceted without fail and an.
Ever progressing relationship that begins the minute a person joins an organization it continues throughout their work and Beyond this journey can be divided into k to numerous essential stages whilst we’re actually you know that they’re used with us so on boarding daily operations settlement and advantages expert advancement then we get to the offboarding and even advocacy so it even occurs after the worker has actually left your employment throughout the journey companies are responsible for collecting saving safeguarding worker information in compliance with information privacy regulations no matter where it is you’re operating around the world it frequently includes implementing secure information management systems and guaranteeing stringent adherence to local requirements to protect both the staff member and the organization the evolution of worker information and management c.