A CFO’s Viewpoint on Papaya Global Solutions Jacksonville Marketing Communications Manager…
The platform makes it possible for companies to manage their worldwide labor force and abide by local employment guidelines and tax laws. Papaya Global offers a variety of services, including payroll management, advantages administration, compliance management, time and participation tracking, and HR management. The platform is created to simplify the complexities of worldwide payroll and provide real-time presence and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New york city, London, and Kiev.
In the vibrant landscape of global business operations, managing payroll throughout borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of a worldwide business, I understand the important importance of effective and compliant payroll management. In our pursuit of excellence, we have actually accepted ingenious options to enhance our processes, and one such transformative tool is Software application.
The Obstacle of Worldwide Payroll:
International expansion causes diverse obstacles, and payroll management is no exception. Differing tax policies, differing employment laws, and several currencies make it vital for organizations to adopt sophisticated options to make sure accuracy, compliance, and performance in payroll processing.
Software application: A Comprehensive Service:
It is essential to think about and consist of post-termination restrictions in the employment agreement to make sure enforceability. You need to carefully identify what you are seeking to secure and plainly specify the confidential information that falls within its scope. Additionally, define the duration of the post-termination constraint and be prepared to validate it in relation to intellectual property. The guidelines relating to intellectual property vary depending upon the kind of IP and the jurisdiction. For example, in the Netherlands, the end customer is likely to have copyright rights over works produced by workers under their supervision, while in Poland, contractual task might be needed.
Papaya Global Software application has become a game-changer in the world of global payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, easy to use interface. As the CFO, I have witnessed firsthand the favorable impact of on our company’s financial operations.
Unified International Payroll Processing:
enables our business to process payroll effortlessly throughout several countries. The platform’s unified approach allows for consistent payroll estimations, reducing errors and ensuring compliance with local policies. This has considerably reduced the risks associated with global payroll processing.
also essential for if in the future someone states misclassification you have your file supported by the requisite files and that the best evaluation tools to reveal somebody that you had a thoughtful procedure and so what do you have to include because process it’s the who the what the where and the when who are you handling are you handling an individual or are you handling a personal Service Corporation and how are they operating what are they doing is it the type of work that lends itself more to being an independent professional than a worker so for instance accounting
I.T engineering 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 handled again another essential aspect is the management and supervision of the uh worker and after that lastly when is it a specific project is it a six-month project 6 years all of this is manageable however it has to be recorded and it has to be completely um investigated so we have a tool we call it ic2 we had an ic1 and we’ve improved it this year so that we can roll it out worldwide these tools take a questionnaire list for the employee the worker submits and fills these questions out therefore does completion customer or the recipient of the services they both put their information into the tool and then it does an assessment waiting the different concerns due to the fact that not every jurisdiction has the very same sensation about a few of these questions some think they’re more crucial than others and it comes out with a red yellow or green red you’re most likely a worker yellow you’re on the cusp we can probably assist you with that in regards to a few of the important things you require to reinforce to make certain that you are considered 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 complexities of worldwide employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our company current with changes in guidelines across jurisdictions. This makes sure that our payroll procedures abide by the current requirements, decreasing the danger of non-compliance and associated penalties.
network of In-House outside advisors accounting firms and legal companies who help us keep our databases completely approximately date and we also get in touch with we require to when we see an unusual or or especially complicated scenarios okay thanks Steve I can simply see a quick concern in the Q a window yes the session will be recorded and sent out to participants later on um moving back to to the webinar itself Ray employer of record is controlled 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 special considerations for countries and where the eor model isn’t regulated yes Ian employee leasing or labor leasing as it’s also called which prevails in numerous countries specifically in Europe imposes strict regulations on items such as the length of assignment it likewise designates workers to collective bargaining agreements that gives them rights and advantages but even in the nations that do not have those rigorous guidelines for instance the UK Canada and the nordics there are guidelines for each nation and each employee is dealt with the like all the other workers in that nation and all those policies require to be abided by alright thank you Ray um Kathy moving I would say to yourself what do business need to factor in when identifying contract status to safeguard themselves and the rights of hires what are the advantages and disadvantages of working with contractors and Freelancers versus long-term staff members so certainly the the benefit of contractors versus employees is the the flexibility for both the employee and for the company um however I can’t worry enough how important it is to have a consistent thorough and a well-documented compliance
Papaya Global Solutions Jacksonville Marketing Communications Manager and Time Cost Savings:
The software’s automation abilities have substantially reduced the time and effort required for payroll processing. Handbook data entry and repetitive tasks have been lessened, allowing our finance group to focus on strategic efforts rather than administrative burdens. This has resulted in increased efficiency and efficiency within our monetary operations.
in one given that each state has its own regulations Californians are some of the most rigorous an example is pay slips on a payslip in California the right information has to be on the payslip in the right format and in the right position if you’re in breach of of policies for payslips the fines are provided per payslip so that’s each employee each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to worry to consider and we’re just two concerns in and 10 minutes or two working with in one nation is tough enough but when working with in a you know on a global level it’s an entirely different story you need to ensure that you depend on date with present as well as pending local labor laws Steve um how do you make certain and ensure that the people 2.0 team is on top of an ever-changing landscape and that your customers are completely supported and I’ll arrange this into 3 crucial things we do in most importantly you require to have the best group so we hire a team of international specialists in Employment Practices um that ex that team of professionals includes legal representatives it includes payroll professionals it consists of HR specialists and these are people that not only know the laws in these in these countries and regions however they also understand the languages they know the local practices they understand the cultures and it is essential to have that right group and really have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides detailed 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 informed tactical choices based on real-time insights into our international payroll information.
The practical application and level of the application to work law can be examined through the legal system using case law examples. For example, the obtained rights regulation, likewise referred to as the 2p policies in the UK, and the working time policies have actually been subject to numerous legal interpretations, particularly concerning holiday pay. Furthermore, the principle of work status has seen several legal precedents over the
Scalability for Organization Growth:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and expand into brand-new markets, the software application flawlessly accommodates changes in our workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the progressing needs of our global organization.
International Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of client services and I would state individually and jointly these three people have Years of experience in in work law and global 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 International inform us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the company 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 places 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 company’s obligation to ensure my security while residing in a foreign country compliance with regional laws and policies is crucial for me or anyone else as an expat or as a regional so today we have actually welcomed our trusted Partners people 2.0 to show the importance of local
knowledge when business Go Global thank you and enjoy fine thank you as I stated let’s carry on to the pact agenda today’s webinar is an opportunity to ask the panel the questions you’ve been considering we’ll talk about the realities a company needs to consider when opening a new entity and broadening into new nations in addition to keeping things going we’ll cover aspects such as regional regulations factors to consider when working with compliance key obstacles payments and what not to do it is among the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the larger a company grows the more they require to understand and manage understanding what to do in each brand-new circumstance as it increases is important on numerous levels understanding local regulations and regional laws in addition to organization practices assists reduce Associated and international growth papaya through our local specialists can browse possible risks such as intellectual property security information privacy security issues guaranteeing the company’s operations remain certified and safe and secure tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has actually shown to be an invaluable possession in our mission for effective and certified worldwide payroll management. As the CFO of a global business, I am confident in recommending Papaya Global to organizations looking for to streamline their payroll processes, enhance compliance, and attain greater efficiency in managing their international labor force. The software application’s ingenious features and dedication to excellence align with our strategic objectives, making it an integral part of our financial operations.
I discover time and time again the employees typically misclassified unknowingly they don’t understand the conditions of employment or contract and are told by the customer why it’s most advantageous mainly to the client why you ought to be employed or taken part in this fashion the worker may owe taxes and Social Security to the authorities the future pension and healthcare benefits of the employee can be impacted and numerous times it can be years before this all falls out and by that time it’s too late years have actually passed they haven’t contributed to pensions And so on so it’s a big effect that they never ever 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 ten years um Kathy business are taking out insurance versus misclassification however usually premiums are only covering the expense of legal costs whilst the average claim evaluated versus companies equates to to 40 or 50 percent of the base salary of employee is there any point in securing insurance coverage 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 many cases I haven’t seen it a minimum of so uh the the other area that I do think if you managed to get the protection what we are stating is is that if your compliance program is not up to stuff you could be rejected coverage on the basis of the truth that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Solutions Jacksonville Marketing Communications Manager …
The extensive features of come at a cost,
Recent decades have actually seen a dramatic change to the labor force as the rise of remote work has actually broken down geographical barriers to working with. Services can now hire personnel from anywhere worldwide, allowing them to access the very best readily available talent for any provided function. This provides workers more flexibility to work from home and increase their earnings without relocating to pricey locations or commuting long distances. A 2022 survey found that 87% of staff members who have the possibility to work from another location take that chance. The outbreak of COVID-19, in conjunction with new enterprise connection software, sped up the move to remote work, consisting of 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 everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I have actually had roles in all type of Industries retail and Beauty to Aerospace in all types of services startup to matrixed environments around the world I provided management and method to populations of more than 100,000 workers on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
Worldwide I work throughout the business man maning and constructing external relationships supporting Business customers and options and serving as a consultant I wish to introduce our very 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 group and in fact work extremely closely with our um HR department as well to manage numerous legal and HR matters that turn up so really thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our objective is to set you as HR specialists free to do fantastic
While Papaya Global offers combinations with various HR and finance systems, the implementation process was not without obstacles. Integrating the software with our existing infrastructure needed additional personalization, leading to some delays in the initial rollout.
Paying FAQs Papaya Global Solutions Jacksonville Marketing Communications Manager 2024
and some smaller sized subsidiaries within our company found the rates to be on the greater side. As a global business, stabilizing the need for advanced features with budget constraints became a delicate exercise.
Customer Support Reaction Time:
There were circumstances where our teams dealt with concerns that needed prompt support. However, the reaction time from’s customer support team was not constantly as fast as preferred, causing periodic hold-ups in issue resolution.
Our execution of involved a phased approach. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This permitted us to recognize and deal with integration challenges early on. As the software application became more instilled in our operations, we slowly broadened its usage to cover our entire global labor force.
The automated functions structured our payroll procedures, reducing the time invested in manual calculations and compliance tracking. Routine training sessions and ongoing support from Papaya assisted our groups become competent users of the software application, optimizing its capacity for our company.
Companies that staff member workers across numerous countries often deal with intricate difficulties when it pertains to managing their workforce. One of the greatest difficulties is consolidating different information streams and sticking to varied local and national labor policies, which can be both lengthy and pricey. Furthermore, establishing local entities in new areas can be a pricey and suboptimal choice, with alternatives such as opening a foreign subsidiary or employing a professional work company (PEO) frequently charging up to 15% of the payroll. These challenges have actually caused a considerable increase in problem hiring qualified personnel, with 75% of companies reporting this issue 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.
provides an option supporting all kinds of work. It provides an end-to-end platform, from worker onboarding and ongoing management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they run, provides management of employment advantages, and ensures data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading professional in payroll and labor force management. She co-founded after seeing the technology gap in global.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to attend the complete webcast in order to receive your credits if you have any concerns 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 be 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 hi and thank you for joining us today we’re thrilled to have you here as we embark on a journey of data to guideline attaining
360 degree worker compliance where we’ll dive into the necessary elements of the employee compliance management design throughout the session we’ll check out real world obstacles genuine regional regulations finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to secure your company and workers while staying compliant in an
Ever developing regulatory environment in the everchanging world of organization and finance ensuring compliance with payroll policies is not just crucial but likewise a legal vital from the moment of working with to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance threats that have significant consequences however with a much deeper more nuanced understanding of their commitments companies can not only navigate the detailed landscape but likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the understanding and tools necessary to navigate the complex Surface of compliance whether you’re a skilled P expert a small company owner or somebody new to the field what I would like to do before we start and I think it’s actually essential
In our mission to boost effectiveness and precision in handling our international workforce, our multinational corporation turned to, a leading and labor force management software application. The shift aimed to simplify the complex task of managing throughout numerous nations, currencies, and compliance regulations.
Among the standout features of is its robust compliance management system. The software application immediately updates itself to follow ever-evolving tax and labor laws across numerous jurisdictions. This has actually been invaluable in ensuring that our processes remain compliant in each nation of operation.
is to state that the content here is illegal advice it is merely for your info please consult your legal group must you have any questions or issues in relation to anything that we’ve talked about today our secret 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 acquaint ourselves with the webinar platform once again as we have actually.
function as your hris or is type of your core staff member record um to manage that staff member 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 employees and compensate them and benefits Administration module that allows you to help manage the advantages you provide to your staff members so actually excited to be here represent um bamb booy jar and speak about this topic um and I guess from my perspective I’ll I’ll most likely supply a great deal of a concentrate on the US side of things when we discuss sort of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a bit about papay global yes definitely thank you Ian hello everyone I’m Gina dorelis I’m the Employment specialist manager.
at I manage the employment Council in the United States APAC EMA and Israel area I also act as us Council for I’m certified in New york city and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service labor force provider to workers serving in over.
160 countries alright 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 truly actually nice to really see in the webinar chat where everyone’s actually attending from today I can see that we have people in Las Vegas and Indiana already so if you want to continue tell where you are that would be definitely fantastic whilst we simply await everyone else to kind of like participate there we go Chicago too well um so whil we’re doing that I’m waiting for everybody to kind of join I’ll simply run us through the program um today we are going to go over working with Skill brand-new greater Information 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 fantastic so uh I’m hoping that we’re really going to have some really terrific commentary and questions throughout the uh the webinar too alright so that’s the program then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their information is Papaya Global Solutions Jacksonville Marketing Communications Manager complex without fail and an.
Ever progressing relationship that begins the minute a person signs up with an organization it continues throughout their work and Beyond this journey can be divided into k to a number of key stages whilst we’re in fact you understand that they’re employed with us so on boarding everyday operations settlement and benefits professional advancement then we get to the offboarding and even advocacy so it even happens after the employee has actually left your work throughout the journey companies are accountable for gathering storing protecting worker information in compliance with data privacy regulations no matter where it is you’re operating around the world it often involves executing safe and secure information management systems and making sure stringent adherence to local requirements to protect both the employee and the company the evolution of staff member information and management c.