Papaya Global Webchat 2024 – All You Need To Know

A CFO’s Viewpoint on Papaya Global Webchat…

Papaya Global’s platform simplifies international workforce management for companies, ensuring compliance with regional guidelines and tax laws. Their services incorporate payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes international payroll operations, providing services with real-time insights and control. Founded in 2016, Papaya Global has actually expanded to Tel Aviv, New York City, London, and Kiev.

In the dynamic landscape of global organization operations, handling payroll across borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of a worldwide company, I comprehend the critical value 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.

The Obstacle of Worldwide Payroll:

International growth produces diverse obstacles, and payroll management is no exception. Differing tax policies, varying employment laws, and multiple currencies make it imperative for organizations to embrace advanced solutions to make sure precision, compliance, and performance in payroll processing.

Software: A Comprehensive Solution:

workers so it’s really basic to make sure that you’ve considered from the start any post-termination restrictions that you wish to take into the contract of employment that they’re enforceable so that means you require to truly think about what it is you’re looking to secure and why clearly Specify what’s included within the scope of that confidential information and attend to the duration of constraint post-determination that you want to apply and be really able to to validate that in relation to intellectual property the position really depends on the kind of copyright you’re wanting to safeguard and likewise the jurisdiction so for instance from a copyright point of view in the Netherlands the end client is most likely to have the um copyright rights in a copyright that the workers produced who’s been under their supervision and control immediately nevertheless in somewhere like Poland for instance that automated right may not be there and that task would need to flow through the chain uh contractually so it really depends upon the jurisdiction and the type of IP all right thank you Elizabeth Steve was remaining on the topic of contracts Miss classified misclassifying staff members

Papaya Global Software has actually emerged as a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use interface. As the CFO, I have seen firsthand the positive impact of on our company’s financial operations.

Unified Global Payroll Processing:
enables our business to process payroll perfectly across multiple nations. The platform’s unified method permits constant payroll estimations, minimizing errors and ensuring compliance with regional regulations. This has substantially mitigated the risks related to worldwide payroll processing.

also essential for if later someone states misclassification you have your file supported by the requisite files which the best assessment tools to show somebody that you had a thoughtful procedure and so what do you have to consist of because process it’s the who the what the where and the when who are you dealing with are you dealing with a private or are you handling an individual Service Corporation and how are they running what are they doing is it the kind of work that provides itself more to being an independent specialist than an employee so for instance accounting

I.T crafting the creatives these all provide 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 need to be on site and handled again another key factor is the management and guidance of the uh worker and then finally when is it a specific task is it a six-month task 6 years all of this is workable but it needs to be recorded and it needs to be thoroughly 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 globally these tools take a questionnaire list for the worker the employee fills out and fills these questions out therefore does completion customer or the recipient of the services they both put their info into the tool and then it does an assessment waiting the different questions due to the fact that not every jurisdiction has the very same feeling about a few of these concerns some believe they’re more vital than others and it comes out with a red yellow or green red you’re probably a staff member yellow you’re on the cusp we can probably help you with that in terms of some of the things you need to boost to make certain that you are considered that examination of uh independent specialist or green where you were assessed as an as a independent professional once that assessment is done all the requisite files are beneath it so that if later on there

Automated Compliance:
Navigating the intricacies of global work laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in guidelines throughout jurisdictions. This makes sure that our payroll processes comply with the most recent requirements, minimizing the risk of non-compliance and associated charges.

network of In-House outside advisors accounting companies and legal firms who assist us keep our databases completely up to date and we also call on we require to when we see an unusual or or especially intricate scenarios fine thanks Steve I can simply see a fast concern in the Q a window yes the session will be taped and sent out to guests later on um returning to to the webinar itself Ray employer of record is regulated in a different way all over the world and the German law for example it’s classed as employee leasing can you shed any light on a few of the special considerations for countries and where the eor model isn’t managed yes Ian staff member leasing or labor leasing as it’s likewise called which prevails in numerous countries particularly in Europe imposes stringent regulations on items such as the length of assignment it likewise appoints workers to collective bargaining contracts that provides rights and benefits but even in the countries that don’t have those rigorous policies for example the UK Canada and the nordics there are regulations for each country and each employee is dealt with the like all the other employees because country and all those regulations require to be abided by all right thank you Ray um Kathy moving I would say to yourself what do companies require to factor in when figuring out contract status to protect themselves and the rights of hires what are the pros and cons of hiring professionals and Freelancers versus long-term workers so certainly the the advantage of contractors versus employees is the the flexibility for both the employee and for the company um however I can’t worry enough how essential it is to have a consistent extensive and a well-documented compliance

Effectiveness

Papaya Global Webchat and Time Cost Savings:

The software application’s automation capabilities have significantly minimized the time and effort required for payroll processing. Manual information entry and repetitive tasks have actually been lessened, permitting our financing team to concentrate on tactical initiatives rather than administrative concerns. This has led to increased efficiency and performance within our financial operations.

in one because each state has its own regulations Californians are a few of the most strict an example is pay slips on a payslip in California the best info has to be on the payslip in the right 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 employee each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to worry to think about and we’re only 2 questions in and 10 minutes or so hiring in one nation is hard enough but when hiring in a you understand on a global level it’s an entirely different story you require to ensure that you’re up to date with existing in addition to pending local labor laws Steve um how do you make sure and ensure that individuals 2.0 group is on top of an ever-changing landscape and that your clients are totally supported and I’ll arrange this into three key things we perform in firstly you need to have the best team so we work with a group of worldwide specialists in Employment Practices um that ex that group of professionals consists of legal representatives it includes payroll experts it includes HR professionals and these are people that not just know the laws in these in these nations and areas however they also know the languages they know the local practices they understand the cultures and it is essential to have that right team and truly have the group on the ground uh working with cl

Real-time Analytics and Reporting:

Papaya Global supplies thorough real-time analytics and reporting tools. As a CFO, having access to precise and timely financial data is essential for decision-making. The platform’s reporting capabilities empower me to make educated strategic decisions based upon real-time insights into our international payroll information.

application and its scope and the way that it applies to work law in practice can be checked through the judicial system by way of case law examples of that would be the obtained rights regulation otherwise referred to as the 2p regulations in the UK the working time guidelines which has had numerous strands of that legislation checked especially around vacation pay and of course as Kathy’s going to come on to discuss later work status which there’s been numerous precedence set over the years so I believe it’s actually that consistent evolution of the work law landscape that you actually need to browse when when operating in Europe all right thank you Elizabeth Ray what about you from your personal experience while crossing the pond as discussed each nation has various regulations however the United States is basically 50 countries

Scalability for Organization Growth:
One of the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into brand-new markets, the software seamlessly accommodates changes in our labor force and payroll requirements. This scalability ensures that our payroll facilities can adjust to the progressing requirements of our international company.

Global 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 jointly these three people have Years of experience in in work law and global Employment Practices so thank you it’s a pleasure to be with everyone here today seems like we’ve 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 Solutions at papaya Worldwide inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the company for around four and a half years as head of Partnerships I have 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 opportunity to relocate and operate in three different countries it is the business’s responsibility to ensure my defense while living in a foreign country compliance with regional laws and policies is essential for me or anybody else as an expat or as a local so today we have welcomed our relied on Partners people 2.0 to demonstrate the value of local

competence when business Go International thank you and delight in all right thank you as I stated let’s carry 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 go over the truths a business needs to think about when opening a brand-new entity and broadening into brand-new nations as well as keeping things going we’ll cover aspects such as local policies considerations when working with compliance crucial obstacles payments and what not to do it is among the most essential things remembering what not to do um operating on a global 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 along with service practices assists mitigate Associated and global expansion papaya through our regional specialists can browse potential risks such as copyright security data personal privacy security issues ensuring the business’s operations stay compliant and safe and secure tax Social Security returns and remittances differ by nation

In conclusion, Papaya Global Software has actually shown to be an indispensable possession in our quest for efficient and certified global payroll management. As the CFO of an international company, I am positive in suggesting Papaya Global to organizations looking for to simplify their payroll processes, improve compliance, and accomplish higher efficiency in handling their international workforce. The software’s innovative features and commitment to excellence line up with our strategic goals, making it an integral part of our financial operations.

openly 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 substantial legal costs there’s there’s other penalties there’s other costs behind that too so the overall expense can be extremely considerable in the tens of countless dollars or more and and those quantities are growing uh the reason why companies are getting it so wrong is really just the guidelines are intricate and they’re altering all the time believe ir-35 in the UK which has been a continuous advancement for several years now and and still a great deal of uncertainty amongst business on what it really means and how you deal with it most employers are merely not aware of the guidelines and and act as if the the guidelines are the same all over which they’re not so so encourage you to to be really proactive as you’re engaging uh workers from a category point of view okay thank you Stephen and moving back to yourself Ray it’s not only the company that suffers in the long run what results can this have on the staff member Papaya Global Webchat particularly when it concerns their own tax liabilities social security and advantages for instance jury and undoubtedly the workers the other side of the coin

I find time and time again the workers frequently misclassified unconsciously they do not understand the conditions of work or contract and are informed by the customer why it’s most advantageous generally to the client why you ought to be used or engaged in this fashion the worker may owe taxes and Social Security to the authorities the future pension and healthcare advantages of the worker can be affected and a number of times it can be years before this all falls out and by that time it’s too late years have passed they have not added to pensions Etc so it’s a big effect that they never understood they were strolling into you couldn’t agree with you more if you state the UK for example hmrc can go back as much as 10 years um Kathy business are taking out insurance against misclassification but usually premiums are only covering the cost of legal fees whilst the average claim examined versus employers relates to to 40 or half of the base salary of worker exists any point in taking out insurance and what is the alternative yeah to your point um you do need to check out the small print it is not covering the taxes penalty and interest in many cases I have not seen it at least so uh the the other location that I do think 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 rejected coverage on the basis of the truth that you were not in compliance with laws um in the UK

 

 

Cost Factors to consider and Papaya Global Webchat …
The thorough features of come at a cost,

 

Recent decades have actually seen a significant change to the workforce as the increase of remote work has broken down geographical barriers to hiring. Companies can now hire personnel from anywhere worldwide, enabling them to access the very best readily available skill for any given function. This gives workers more flexibility to work from home and increase their income without relocating to pricey locations or commuting cross countries. A 2022 survey discovered that 87% of staff members who have the opportunity to work remotely take that opportunity. The break out of COVID-19, in conjunction with brand-new business connectivity software application, accelerated the transfer to remote work, including in industries formerly hesitant to welcome the pattern.

insights are important to us and and your fellow attendees so first things first though um let’s get to know everybody my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had roles in all type of Industries retail and Beauty to Aerospace in all kinds of services startup to matrixed environments around the world I provided leadership and strategy to populations of more than 100,000 employees on a monthly basis and in over 170 nations today I’m the perel strategist for papaya

Worldwide I work across business guy maning and constructing external relationships supporting Enterprise customers and solutions and acting as an advisor I wish to present our first Greg um guest Greg who will kick things off by informing us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal team and really work extremely carefully with our um HR department as well to deal with various legal and HR matters that show up so actually thrilled to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our mission is to set you as HR specialists free to do terrific

Execution Obstacles:
Although Papaya Global supplies combinations with numerous HR and finance systems, we experienced some hurdles during the combination procedure. Tailoring the software application to line up with our existing facilities proved to be more intricate than anticipated, leading to delays in the preliminary rollout.

Pricing Issues:
The comprehensive features offered by Papaya Global come at a cost, which a few of our smaller sized subsidiaries discovered to be excessively pricey. As a worldwide company, we needed to carefully weigh the requirement for advanced functionality against spending plan restraints.

Support Response Time:
On occasion, our teams experienced problems that needed immediate help. However, the action time from Papaya Global’s consumer support group was not always as prompt as we would have liked, leading to delays in fixing those concerns.

Our application of included a phased approach. We started by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This allowed us to recognize and deal with integration difficulties early on. As the software application became more instilled in our operations, we slowly expanded its use to cover our entire worldwide labor force.

The automated functions structured our payroll procedures, reducing the time invested in manual calculations and compliance tracking. Routine training sessions and continuous support from Papaya assisted our teams become skilled users of the software, maximizing its capacity for our organization.

Nevertheless, paying a labor force can be intricate. It is especially challenging for business who employ staff throughout several nations, as they need to constantly combine different information streams, by hand track regional and national labor and guidelines, and spend important time and resources to establish local entities in new locations. These companies are faced with suboptimal, expensive options, like opening a foreign subsidiary or employing an expert work company, which is a local firm that hires employees on their behalf and can charge up to 15% of. By 2022, 75% of companies reported trouble hiring qualified personnel, an increase of 21% from 2019. The payroll & HR options market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.

offers a service supporting all types of work. It provides an end-to-end platform, from worker onboarding and continuous management to global payments and. It assists business with labor law compliance in the jurisdictions in which they run, provides management of work advantages, and guarantees 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 innovation space in international.

papaya this webcast has actually been pre-approved for hrci and Sherm credit please make certain to attend the total webcast in order to receive your credits if you have any questions throughout the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your internet browser with the webcast study please make certain to finish 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 presentation hello and thank you for joining us today we’re thrilled to have you here as we embark on a journey of data to policy achieving

360 degree staff member compliance where we’ll dive into the vital elements of the staff member compliance management design throughout the session we’ll check out real life challenges real regional regulations best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to safeguard your organization and workers while staying compliant in an

Ever progressing regulatory environment in the everchanging world of service and finance making sure compliance with payroll policies is not just crucial but likewise a legal crucial 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 dangers that have significant repercussions however with a much deeper more nuanced understanding of their commitments organizations can not just navigate the elaborate landscape but also proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools required to navigate the complex Surface of compliance whether you’re a seasoned P expert a small business owner or someone brand-new to the field what I want to do before we start and I believe it’s really important

In our quest to enhance efficiency and accuracy in managing our worldwide workforce, our multinational corporation turned to, a leading and labor force management software. The transition aimed to simplify the complex job of handling throughout different nations, currencies, and compliance regulations.

The Great:

Compliance Management:
Among the standout functions of is its robust compliance management system. The software immediately updates itself to abide by ever-evolving tax and labor laws across numerous jurisdictions. This has actually been invaluable in guaranteeing that our processes stay compliant in each nation of operation.

is to state that the material here is illegal advice it is simply for your information please consult your legal group ought to you have any questions or issues in relation to anything that we’ve discussed today our key take key takeaways by the end of the webinar will be an understanding of employee compliance dangers 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’ve.

act as your hris or is type of your core employee record um to manage that employee life process throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those staff members and compensate them and benefits Administration module that permits you to help manage the benefits you supply to your employees so really excited to be here represent um bamb booy jar and speak about this topic um and I think from my point of view I’ll I’ll probably offer a great deal of a concentrate on the US side of things when we talk about type of compliance so delighted to be here thanks for having me Ian alright 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 specialist supervisor.

at I manage the employment Council in the United States APAC EMA and Israel region I also serve as us Council for I’m certified in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service work force company to employees 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 sort of like going through the intro so it’s really really good to really see in the webinar chat where everybody’s really attending from today I can see that we have individuals in Las Vegas and Indiana currently so if you want to carry on tell where you are that would be absolutely great whilst we simply await everybody else to kind of like participate in there we go Chicago too well um so whil we’re doing that I’m waiting for everyone to type of join I’ll just run us through the agenda um today we are going to discuss hiring Talent brand-new higher Information Management termination compliance and automation wow the chat has actually got really really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely all over which is fantastic so uh I’m hoping that we’re really going to have some actually fantastic commentary and questions throughout the uh the webinar as well fine so that’s the agenda then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a staff member and their data is Papaya Global Webchat complex without fail and an.

Ever progressing relationship that begins the minute an individual joins an organization it continues throughout their work and Beyond this journey can be divided into k to several crucial stages whilst we’re really you understand that they’re used with us so on boarding day-to-day operations compensation and advantages expert development then we get to the offboarding and even advocacy so it even occurs after the staff member has left your employment throughout the journey companies are accountable for gathering saving securing worker data in compliance with data privacy guidelines no matter where it is you’re operating around the world it frequently involves implementing secure data management systems and making sure stringent adherence to regional requirements to protect both the worker and the company the evolution of employee data and management c.