A CFO’s Perspective on Will Papaya Global Run Without Sage Accounts…
Papaya Global’s platform streamlines worldwide workforce management for business, making sure compliance with regional policies and tax laws. Their services incorporate payroll processing, benefits administration, compliance oversight, time and participation tracking, and HR support. The platform centralizes worldwide payroll operations, providing organizations with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York, London, and Kiev.
In the vibrant landscape of global organization operations, handling payroll throughout borders can be a complex and tough job. As the Chief Financial Officer (CFO) of an international business, I comprehend the crucial value of effective and compliant payroll management. In our pursuit of quality, we have actually accepted ingenious solutions to simplify our processes, and one such transformative tool is Software application.
The Challenge of Global Payroll:
Worldwide growth produces diverse difficulties, and payroll management is no exception. Differing tax regulations, varying work laws, and several currencies make it vital for companies to embrace advanced solutions to guarantee precision, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Solution:
It is important to think about and consist of post-termination constraints in the employment agreement to make sure enforceability. You need to carefully determine what you are looking for to safeguard and clearly define the confidential information that falls within its scope. In addition, define the duration of the post-termination constraint and be prepared to validate it in relation to copyright. The rules relating to copyright vary depending on the kind of IP and the jurisdiction. For instance, in the Netherlands, completion client is most likely to have copyright rights over works produced by workers under their supervision, while in Poland, contractual task might be necessary.
Papaya Global Software application has actually become a game-changer in the world of worldwide payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, easy to use user interface. As the CFO, I have witnessed firsthand the positive impact of on our company’s financial operations.
Unified Worldwide Payroll Processing:
allows our business to process payroll effortlessly throughout numerous nations. The platform’s unified method enables constant payroll estimations, decreasing errors and making sure compliance with local guidelines. This has substantially mitigated the dangers related to international payroll processing.
also essential for if later somebody says misclassification you have your file supported by the requisite files which the right evaluation tools to show someone that you had a thoughtful procedure therefore what do you have to include because process it’s the who the what the where and the when who are you dealing with are you handling an individual or are you dealing with a personal Service Corporation and how are they operating what are they doing is it the type of work that provides itself more to being an independent specialist than a worker so for instance accounting
I.T engineering the creatives these all lend themselves more to that evaluation of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they have to be on site and managed once again another key factor is the management and supervision of the uh worker and after that finally when is it a specific job is it a six-month job six years all of this is manageable but it has to be documented and it has to be completely um examined so we have a tool we call it ic2 we had an ic1 and we have actually improved it this year so that we can roll it out internationally these tools take a questionnaire list for the employee the employee completes and fills these concerns out and so does completion client or the recipient of the services they both put their info into the tool and after that it does an assessment waiting the various concerns due to the fact that not every jurisdiction has the very same feeling about a few of these questions some think 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 regards to a few of the things you require to reinforce to ensure that you are given that evaluation of uh independent specialist or green where you were evaluated as an as a independent contractor once that examination is done all the requisite files are underneath it so that if later on there
Browsing the intricacies of worldwide work 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 stick to the current requirements, decreasing the risk of non-compliance and associated charges.
network of In-House outside advisors accounting companies and legal companies who assist us keep our databases completely as much as date and we also call on we need to when we see an unusual or or especially complicated situations okay thanks Steve I can just see a fast question in the Q a window yes the session will be taped and sent to participants afterwards um returning to to the webinar itself Ray employer of record is controlled in a different way around the world and the German law for instance it’s classed as employee leasing can you shed any light on some of the unique considerations for countries and where the eor design isn’t controlled yes Ian employee leasing or labor leasing as it’s likewise called which is prevalent in several countries specifically in Europe enforces strict policies on items such as the length of task it likewise assigns workers to collective bargaining arrangements that gives them rights and benefits however even in the nations that don’t have those rigorous policies for instance the UK Canada and the nordics there are regulations for each country and each worker is dealt with the like all the other workers in that nation and all those policies need to be complied with all right thank you Ray um Kathy moving I would say to yourself what do business need to factor in when identifying agreement status to safeguard themselves and the rights of hires what are the benefits and drawbacks of hiring contractors and Freelancers versus permanent employees so certainly the the advantage of professionals versus employees is the the flexibility for both the employee and for the employer um however I can’t stress enough how essential it is to have a constant extensive and a well-documented compliance
Will Papaya Global Run Without Sage Accounts and Time Cost Savings:
The software’s automation capabilities have substantially decreased the time and effort needed for payroll processing. Handbook data entry and recurring jobs have been reduced, permitting our finance team to focus on strategic initiatives rather than administrative concerns. This has led to increased performance and efficiency within our financial operations.
in one since each state has its own guidelines Californians are a few of the most rigorous an example is pay slips on a payslip in California the best information needs to be on the payslip in the right format and in the right position if you remain in breach of of guidelines for payslips the fines are released per payslip so that’s each staff member each pay slip will incur a great thanks Ray thank you Elizabeth a lot to fret to think of and we’re only 2 concerns in and 10 minutes or so hiring in one country is tough enough but when working with in a you understand on a worldwide level it’s a totally various story you require to make sure that you’re up to date with existing along with pending regional labor laws Steve um how do you make sure and guarantee that individuals 2.0 group is on top of an ever-changing landscape which your clients are totally supported and I’ll arrange this into three key things we do in first and foremost you need to have the right group so we work with a group of international experts in Work Practices um that ex that team of specialists consists of legal representatives it consists of payroll professionals it consists of HR experts and these are people that not just know the laws in these in these nations and regions but they likewise know the languages they know the regional practices they understand the cultures and it is essential to have that right team and truly have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to accurate and timely monetary information is crucial for decision-making. The platform’s reporting capabilities empower me to make informed strategic choices based on real-time insights into our international payroll information.
application and its scope and the way that it applies to employment law in practice can be tested through the judicial system by way of case law examples of that would be the gotten rights instruction otherwise called the 2p guidelines in the UK the working time policies which has had numerous hairs of that legislation tested especially around vacation pay and of course as Kathy’s going to come on to speak about later employment status which there’s been multiple precedence set for many years so I believe it’s actually that constant development of the employment law landscape that you actually need to navigate when when working in Europe all right thank you Elizabeth Ray what about you from your personal experience while moving across the pond as discussed each nation has different regulations but the United States is essentially 50 countries
Scalability for Service Development:
Among the standout features of Papaya Global is its scalability. As our business continues to grow and broaden into new markets, the software application seamlessly accommodates changes in our workforce and payroll requirements. This scalability ensures that our payroll facilities can adjust to the developing requirements of our worldwide company.
Global Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Look who is our senior vice president of customer service and I would say separately and collectively these three people have Years of experience in in work law and global Employment Practices so thank you it’s an enjoyment to be with everybody 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 Services at papaya Worldwide inform us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the business for around 4 and a half years as head of Partnerships 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 relocate and operate in 3 different countries it is the business’s responsibility to ensure my security while living in a foreign nation compliance with local laws and regulations is crucial for me or anybody else as an expat or as a regional so today we have actually welcomed our trusted Partners individuals 2.0 to show the significance of local
knowledge when business Go Global thank you and enjoy fine thank you as I said let’s move on to the pact program today’s webinar is an opportunity to ask the panel the concerns you’ve been thinking about we’ll discuss the facts a business needs to consider when opening a brand-new entity and broadening into brand-new nations as well as keeping things going we’ll cover elements such as local policies considerations when employing compliance key challenges payments and what not to do it is among the most important things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a business grows the more they need to understand and manage understanding what to do in each new scenario as it rises is important on lots of levels understanding regional policies and local laws along with organization practices assists reduce Associated and international expansion papaya through our local experts can browse prospective risks such as intellectual property security data personal privacy security concerns ensuring the business’s operations stay certified and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has actually proven to be an important possession in our mission for efficient and compliant international payroll management. As the CFO of a worldwide business, I am positive in advising Papaya Global to companies seeking to enhance their payroll processes, boost compliance, and attain greater efficiency in managing their worldwide labor force. The software application’s ingenious functions and dedication to quality line up with our tactical objectives, making it an important part of our financial operations.
I discover time and time again the employees often misclassified unknowingly they do not understand the conditions of employment or agreement and are told by the customer why it’s optimum primarily to the client why you ought to be employed or participated in this style the employee might owe taxes and Social Security to the authorities the future pension and healthcare opportunities of the worker can be impacted and numerous times it can be years before this all falls out and by that time it’s far too late years have gone by they haven’t added to pensions Etc so it’s a big effect that they never understood they were walking into you could not agree with you more if you state the UK for instance hmrc can go back as much as 10 years um Kathy business are taking out insurance versus misclassification however generally premiums are only covering the expense of legal fees whilst the typical claim assessed against employers corresponds to to 40 or 50 percent of the base pay of worker exists any point in getting insurance 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 most of the times I have not seen it a minimum of so uh the the other area that I do believe if you managed to get the protection what we are saying is is that if your compliance program is not up to stuff you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Expense Factors to consider and Will Papaya Global Run Without Sage Accounts …
The detailed functions of come at an expense,
Over the past couple of years, the labor force has actually undergone a significant change with the emergence of remote work, which has gotten rid of geographical restraints on hiring. This has allowed services to hire talent from all over the world, allowing them to put together the best possible team for each role. As a result, staff members have actually gained higher flexibility to work from home and increase their incomes without needing to transfer to costly locations or commute fars away. According to a 2022 survey, 87% of staff members who have the option to work from another location choose to do so. The COVID-19 pandemic, combined with improvements in business connection software application, has actually even more accelerated the shift towards remote work, even in industries that were initially reluctant to embrace the trend.
insights are important to us and and your fellow participants so first things initially though um let’s get to know everybody my name is Ian Charles and I have actually operated in payroll for the last 25 years I have actually had functions in all sort of Industries retail and Charm to Aerospace in all kinds of organizations start-up to matrixed environments around the world I supplied leadership and method to populations of more than 100,000 staff members on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across the business man maning and building external relationships supporting Business customers and services and functioning 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 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 in-house legal team and actually work extremely closely with our um HR department too to deal with numerous legal and HR matters that come up so truly delighted to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our mission is to set you as HR specialists free to do terrific
Although Papaya Global supplies integrations with numerous HR and finance systems, we experienced some hurdles throughout the combination procedure. Tailoring the software to line up with our existing facilities proved to be more complicated than anticipated, resulting in delays in the initial rollout.
The extensive features offered by Papaya Global come at an expense, which some of our smaller subsidiaries found to be excessively pricey. As a worldwide company, we had to thoroughly weigh the requirement for sophisticated performance against budget restrictions.
Assistance Reaction Time:
On occasion, our groups experienced issues that needed urgent help. Nevertheless, the reaction time from Papaya Global’s customer support group was not always as timely as we would have liked, leading to hold-ups in fixing those issues.
Our implementation of included a phased approach. We began by onboarding a couple of subsidiaries to check the system’s compatibility with our existing procedures. This enabled us to recognize and deal with combination challenges early on. As the software application ended up being more implanted in our operations, we gradually expanded its usage to cover our entire global labor force.
The automated features streamlined our payroll procedures, reducing the time invested in manual computations 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.
Companies that employee workers throughout several nations frequently face complex challenges when it concerns handling their labor force. One of the greatest obstacles is combining various information streams and sticking to varied regional and national labor guidelines, which can be both lengthy and pricey. Additionally, establishing local entities in brand-new areas can be a costly and suboptimal choice, with alternatives such as opening a foreign subsidiary or employing an expert work organization (PEO) typically charging up to 15% of the payroll. These obstacles have caused a considerable increase in difficulty hiring qualified personnel, with 75% of employers reporting this concern in 2022, a 21% increase from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
provides an option supporting all forms of work. It offers an end-to-end platform, from worker onboarding and ongoing management to global payments and. It helps business with labor law compliance in the jurisdictions in which they run, uses management of employment benefits, and guarantees information 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 specialist in payroll and labor force management. She co-founded after seeing the innovation gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to go to the total webcast in order to get 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 new tab will open in your internet browser with the webcast study please make sure 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 presentation hey there and thank you for joining us today we’re enjoyed have you here as we start a journey of information to regulation achieving
360 degree worker compliance where we’ll dive into the essential aspects of the employee compliance management model throughout the session we’ll explore real life obstacles real regional guidelines best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your organization and staff members while staying certified in an
Ever progressing regulatory environment in the everchanging world of company and financing guaranteeing compliance with payroll regulations is not just vital but also a legal crucial from the moment of working with to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance risks that have significant repercussions nevertheless with a much deeper more nuanced understanding of their commitments organizations can not just browse the intricate landscape however also proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools necessary to navigate the complex Surface of compliance whether you’re a skilled P professional a small business owner or someone new to the field what I wish to do before we begin and I believe it’s truly important
In our quest to boost efficiency and precision in handling our worldwide workforce, our multinational corporation turned to, a leading and labor force management software application. The shift intended to simplify the complex job of handling across various countries, currencies, and compliance guidelines.
Among the standout functions of is its robust compliance management system. The software instantly updates itself to follow ever-evolving tax and labor laws across numerous jurisdictions. This has been invaluable in making sure that our processes stay certified in each country of operation.
is to state that the content here is illegal recommendations it is just for your information please consult your legal team must you have any questions or issues in relation to anything that we’ve talked about today our secret take essential takeaways by the end of the webinar will be an understanding of staff member compliance threats how to employ ly with confidence how to streamline information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.
serve as your hris or is sort of your core employee record um to handle that employee life cycle throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those employees and compensate them and benefits Administration module that permits you to assist handle the benefits you supply to your workers so actually delighted to be here represent um bamb booy jar and speak about this subject um and I guess from my viewpoint I’ll I’ll probably provide a lot of a focus on the US side of things when we speak about kind of compliance so delighted to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to present yourself and tell the audience a little bit about papay global yes absolutely thank you Ian hello everybody I’m Gina dorelis I’m the Employment expert manager.
at I handle the employment Council in the US APAC EMA and Israel area I also serve 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 supply payroll payments and labor force management as a Service labor force supplier to workers serving in over.
160 nations okay thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the intro so it’s truly really nice to in fact see in the webinar chat where everybody’s actually going to 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 definitely wonderful whilst we just wait for everybody else to type of like join in 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 agenda um today we are going to go over employing Talent brand-new higher Information Management termination compliance and automation wow the chat has got actually truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is great so uh I’m hoping that we’re actually going to have some truly excellent commentary and concerns throughout the uh the webinar also alright 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 an employee and their information is Will Papaya Global Run Without Sage Accounts multifaceted without fail and an.
Ever progressing relationship that starts the minute a person joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous key stages whilst we’re actually you know that they’re utilized with us so on boarding everyday operations payment and benefits professional advancement then we get to the offboarding and even advocacy so it even happens after the worker has actually left your employment throughout the journey organizations are responsible for gathering storing securing worker information in compliance with data personal privacy regulations no matter where it is you’re running around the globe it frequently involves implementing safe information management systems and guaranteeing rigorous adherence to local requirements to protect both the staff member and the company the development of employee data and management c.