A CFO’s Point of view on Can You Pay Your Papaya Global Payroll With A Credit Card…
The platform allows business to manage their international workforce and adhere to local work guidelines and tax laws. Papaya Global uses a series of services, including payroll management, benefits administration, compliance management, time and attendance tracking, and HR management. The platform is developed to simplify the intricacies of international payroll and provide real-time exposure and control over payroll operations. The business was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the dynamic landscape of worldwide service operations, handling payroll throughout borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of an international business, I understand the critical importance of efficient and certified payroll management. In our pursuit of excellence, we have actually embraced ingenious solutions to streamline our procedures, and one such transformative tool is Software application.
The Challenge of Worldwide Payroll:
International expansion causes diverse difficulties, and payroll management is no exception. Differing tax policies, differing employment laws, and multiple currencies make it essential for organizations to embrace advanced options to ensure accuracy, compliance, and efficiency in payroll processing.
Software: A Comprehensive Service:
staff members so it’s actually fundamental to make sure that you’ve thought about from the outset any post-termination constraints that you want to put into the agreement of employment that they’re enforceable so that indicates you require to really think of what it is you’re seeking to safeguard and why plainly Define what’s included within the scope of that secret information and address the duration of limitation post-determination that you wish to use and be actually able to to validate that in relation to intellectual property the position truly depends upon the kind of intellectual property you’re wanting to safeguard and also the jurisdiction so for example from a copyright point of view in the Netherlands the end 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 nevertheless in somewhere like Poland for example that automated right may not exist and that task would require to flow through the chain uh contractually so it really depends upon the jurisdiction and the type of IP okay thank you Elizabeth Steve was staying on the topic of contracts Miss categorized misclassifying employees
Papaya Global Software has actually become a game-changer in the realm of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, user-friendly user interface. As the CFO, I have seen firsthand the favorable impact of on our organization’s monetary operations.
Unified Worldwide Payroll Processing:
enables our company to process payroll effortlessly throughout several countries. The platform’s unified method allows for consistent payroll calculations, reducing errors and guaranteeing compliance with regional regulations. This has considerably alleviated the dangers connected with global payroll processing.
also crucial for if later someone states misclassification you have your file supported by the requisite files which the ideal assessment tools to show someone that you had a thoughtful procedure and so what do you have to include in that procedure 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 kind of work that provides itself more to being an independent professional than an employee so for instance accounting
I.T engineering the creatives these all provide themselves more to that assessment of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they need to be on site and managed again another key factor is the management and supervision of the uh worker and then 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 documented and it needs 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 globally these tools take a survey list for the employee the worker fills out and fills these questions out therefore does the end client or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the various questions due to the fact that not every jurisdiction has the exact same feeling about a few of these concerns some believe they’re more vital than others and it comes out with a red yellow or green red you’re most likely a worker yellow you’re on the cusp we can most likely assist you with that in terms of a few of the things you need to bolster to make certain that you are considered that assessment of uh independent professional or green where you were assessed as an as a independent contractor once that assessment is done all the requisite files are below it so that if later on there
Browsing the intricacies of global employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization updated with changes in regulations across jurisdictions. This makes sure that our payroll procedures stick to the most recent requirements, decreasing the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal companies who help us keep our databases completely approximately date and we also call on we require to when we see an uncommon or or especially intricate situations okay thanks Steve I can simply see a fast concern in the Q a window yes the session will be taped and sent to participants afterwards um returning to to the webinar itself Ray company of record is managed in a different way around the globe and the German law for example it’s classed as employee leasing can you shed any light on a few of the unique factors to consider for nations and where the eor design isn’t managed yes Ian staff member leasing or labor leasing as it’s likewise called which is prevalent in a number of nations particularly in Europe enforces stringent guidelines on products such as the length of assignment it also designates workers to collective bargaining arrangements that gives them rights and benefits however even in the countries that do not have those rigorous policies for example the UK Canada and the nordics there are policies for each nation and each worker is treated the like all the other workers because country and all those regulations need to be complied with okay thank you Ray um Kathy moving I would say to yourself what do business need to consider when figuring out contract status to secure themselves and the rights of hires what are the pros and cons of working with contractors and Freelancers versus permanent staff members so obviously the the benefit of contractors versus staff members is the the versatility for both the employee and for the company um but I can’t worry enough how essential it is to have a consistent extensive and a well-documented compliance
Can You Pay Your Papaya Global Payroll With A Credit Card and Time Cost Savings:
The software application’s automation capabilities have actually substantially lowered the time and effort needed for payroll processing. Manual information entry and repeated tasks have been decreased, enabling our financing team to concentrate on tactical efforts rather than administrative concerns. This has actually resulted in increased effectiveness and performance within our monetary operations.
in one because each state has its own policies Californians are a few of the most stringent an example is pay slips on a payslip in California the best information needs to be on the payslip in the best format and in the best position if you’re in breach of of regulations for payslips the fines are issued per payslip so that’s each worker each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to stress to think about and we’re only two questions in and 10 minutes or so employing in one nation is challenging enough but when working with in a you understand on an international level it’s a totally various story you need to ensure that you depend on date with current along with pending regional labor laws Steve um how do you make certain and guarantee that the people 2.0 team is on top of an ever-changing landscape which your clients are completely supported and I’ll organize this into 3 crucial things we do in first and foremost you require to have the right group so we employ a team of global specialists in Work Practices um that ex that group of professionals includes lawyers it consists of payroll professionals it consists of HR experts and these are people that not only understand the laws in these in these countries and regions however they likewise know the languages they know the local practices they understand the cultures and it’s important to have that best team and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides extensive real-time analytics and reporting tools. As a CFO, having access to accurate and timely financial information is vital for decision-making. The platform’s reporting abilities empower me to make educated tactical decisions based on real-time insights into our global payroll information.
application and its scope and the way that it applies to employment law in practice can be tested through the judicial system by way of case law examples of that would be the obtained rights directive otherwise called the 2p guidelines in the UK the working time regulations which has actually had different hairs of that legislation checked particularly around vacation pay and naturally as Kathy’s going to come on to discuss later on work status which there’s been multiple precedence set for many years so I think it’s really that continuous advancement of the employment law landscape that you really require 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 mentioned each nation has various guidelines 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 expand into new markets, the software flawlessly accommodates modifications in our labor force and payroll requirements. This scalability guarantees that our payroll infrastructure can adapt to the developing requirements of our international organization.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Gander who is our senior vice president of customer service and I would say separately and jointly these three people have Decades of experience in in work law and worldwide Employment Practices so thank you it’s an enjoyment to be with everybody here today sounds like we have actually got the right people with us today and in in addition to to those well we likewise have one of our own Stars erase share head of Global Provider at papaya Worldwide tell us about yourself thank you Elin Ian hello my name is Elite I have actually been with the company for around 4 and a half years as head of Partnerships I have developed Papaya’s network of in-country Partners in over 160 places on a personal aspect and related to our subject today I’ve had the opportunity to move and work in 3 different nations it is the company’s duty to guarantee my protection while residing in a foreign country compliance with regional laws and regulations is essential for me or anybody else as an expat or as a local so today we have invited our trusted Partners individuals 2.0 to show the importance of regional
expertise when companies Go Global thank you and enjoy alright thank you as I said let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the questions you’ve been considering we’ll discuss the realities a company needs to think about when opening a brand-new entity and expanding into new countries along with keeping things going we’ll cover aspects such as local guidelines considerations when working with compliance essential challenges payments and what not to do it is among the most important 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 need to comprehend and manage understanding what to do in each new situation as it increases is necessary on numerous levels understanding regional guidelines and local laws along with organization practices helps mitigate Associated and international growth papaya through our regional professionals can navigate possible dangers such as intellectual property defense information privacy security problems guaranteeing the company’s operations stay certified and safe tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has shown to be an indispensable possession in our quest for efficient and certified worldwide payroll management. As the CFO of a worldwide business, I am positive in suggesting Papaya Global to companies looking for to streamline their payroll processes, enhance compliance, and accomplish higher efficiency in handling their global labor force. The software’s ingenious features and dedication to excellence line up with our strategic goals, making it an important 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 publicly revealed settlements there’s likewise significant legal costs there exists’s other charges there’s other expenses behind that also so the overall cost can be really substantial in the 10s of millions of dollars or more and and those quantities are growing uh the reason why business are getting it so wrong is truly simply the guidelines are intricate and they’re changing all the time believe ir-35 in the UK which has actually been an ongoing development for several years now and and still a lot of unpredictability amongst business on what it actually implies and how you deal with it most employers are merely not familiar with the rules and and act as if the the rules are the same all over which they’re not so so motivate you to to be very proactive as you’re engaging uh employees from a classification perspective alright thank you Stephen and returning to yourself Ray it’s not only the company that suffers in the long run what results can this have on the employee Can You Pay Your Papaya Global Payroll With A Credit Card particularly when it pertains to their own tax liabilities social security and advantages for example jury and undoubtedly the employees the opposite of the coin
I discover time and time again the employees typically misclassified unknowingly they do not comprehend the conditions of work or agreement and are informed by the customer why it’s most advantageous primarily to the customer why you must be utilized or engaged in this fashion the employee might owe taxes and Social Security to the authorities the future pension and healthcare advantages of the employee can be impacted and several times it can be years before this all falls out and by that time it’s far too late years have gone by they have not added to pensions And so on so it’s a huge impact that they never understood they were walking 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 coverage versus misclassification but usually premiums are just covering the expense of legal fees whilst the typical claim assessed 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 check out the small print it is not covering the taxes penalty and interest in many cases I haven’t 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 denied coverage on the basis of the truth that you were not in compliance with laws um in the UK
Cost Factors to consider and Can You Pay Your Papaya Global Payroll With A Credit Card …
The detailed features of come at a cost,
Over the past few decades, the workforce has gone through a significant transformation with the introduction of remote work, which has eliminated geographical restraints on hiring. This has actually enabled businesses to recruit talent from all over the world, allowing them to assemble the best possible group for each function. As a result, staff members have actually acquired higher flexibility to work from home and increase their earnings without having to relocate to costly locations or commute fars away. According to a 2022 study, 87% of employees who have the option to work remotely choose to do so. The COVID-19 pandemic, combined with improvements in enterprise connection software application, has actually even more sped up the shift towards remote work, even in industries that were at first reluctant to adopt the pattern.
insights are important 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 functions in all type of Industries retail and Appeal to Aerospace in all kinds of businesses startup to matrixed environments around the world I provided leadership and strategy to populations of more than 100,000 employees on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout business man maning and developing external relationships supporting Business customers and solutions and acting as an advisor I want to introduce our very first Greg um visitor Greg who will kick things off by informing us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal team and actually work extremely closely with our um HR department too to manage various legal and HR matters that come up so really excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our objective is to set you as HR professionals totally free to do fantastic
Although Papaya Global supplies integrations with numerous HR and finance systems, we experienced some difficulties during the combination procedure. Personalizing the software to line up with our existing infrastructure showed to be more intricate than expected, leading to hold-ups in the preliminary rollout.
The substantial functions offered by Papaya Global come at an expense, which some of our smaller subsidiaries found to be prohibitively costly. As a global organization, we needed to thoroughly weigh the need for advanced performance against budget constraints.
Support Action Time:
On occasion, our groups experienced concerns that needed immediate assistance. However, the reaction time from Papaya Global’s consumer assistance team was not always as prompt as we would have liked, causing delays in resolving those issues.
Our execution of included a phased method. We started by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This permitted us to determine and resolve combination obstacles early on. As the software application became more instilled in our operations, we slowly broadened its use to cover our entire global workforce.
The automated functions streamlined our payroll processes, minimizing the time spent on manual calculations and compliance tracking. Regular training sessions and ongoing assistance from Papaya helped our teams become competent users of the software application, optimizing its potential for our company.
Companies that staff member workers across numerous nations frequently deal with elaborate obstacles when it comes to handling their workforce. Among the biggest obstacles is combining various data streams and sticking to diverse regional and national labor guidelines, which can be both time-consuming and costly. Furthermore, establishing regional entities in brand-new areas can be an expensive and suboptimal choice, with alternatives such as opening a foreign subsidiary or employing an expert work company (PEO) typically charging up to 15% of the payroll. These obstacles have resulted in a considerable boost in trouble recruiting certified personnel, with 75% of companies reporting this problem in 2022, a 21% boost from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
offers an option supporting all kinds of work. It provides an end-to-end platform, from employee onboarding and ongoing management to international payments and. It helps business with labor law compliance in the jurisdictions in which they run, offers management of work 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 expert in payroll and labor force management. She co-founded after seeing the innovation space in global.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make certain to attend the total webcast in order to get your credits if you have any concerns 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 internet browser with the webcast survey please be sure 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 enjoyed have you here as we start a journey of data to guideline accomplishing
360 degree staff member compliance where we’ll dive into the essential elements of the employee compliance management model throughout the session we’ll check out real life difficulties real regional policies finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to safeguard your company and workers while staying compliant in an
Ever developing regulative environment in the everchanging world of service and financing making sure compliance with payroll regulations is not just vital however likewise a legal imperative from the minute 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 far-reaching repercussions however with a deeper more nuanced understanding of their responsibilities organizations can not only browse the intricate landscape but also proactively ensure this 360 degree compliance the webinar is designed to equip you with the understanding and tools required to browse the complex Terrain of compliance whether you’re a seasoned P specialist a small company owner or somebody brand-new to the field what I wish to do before we start and I believe it’s really essential
In our mission to improve performance and accuracy in handling our worldwide labor force, our international corporation turned to, a leading and labor force management software. The shift intended to streamline the complex job of handling across numerous nations, currencies, and compliance regulations.
One of the standout features of is its robust compliance management system. The software application instantly updates itself to comply with ever-evolving tax and labor laws across multiple jurisdictions. This has actually been vital in making sure that our processes stay certified in each nation of operation.
is to state that the material here is not legal guidance it is merely for your details please consult your legal team ought to you have any concerns or issues in relation to anything that we have actually gone over today our key take crucial takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to hire ly with self-confidence how to streamline information management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we have actually.
serve as your hris or is kind of your core employee record um to manage that staff member life process throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those employees and compensate them and benefits Administration module that allows you to help manage the benefits you supply to your workers so truly excited to be here represent um bamb booy jar and speak about this topic um and I guess from my point of view I’ll I’ll probably provide a lot of a concentrate on the United States 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 present yourself and inform the audience a little bit about papay worldwide yes definitely thank you Ian hi everybody I’m Gina dorelis I’m the Employment expert supervisor.
at I manage the work Council in the US APAC EMA and Israel area I likewise work as us Council for I’m accredited in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and workforce management as a Service work force supplier to employees serving in over.
160 nations fine thank you so both I feel completely underqualified sitting here with you both well I forgot to point out as we were type of like going through the introduction so it’s truly really 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 already so if you want to continue inform where you are that would be definitely great whilst we simply await everyone else to type of like take part there we go Chicago also well um so whil we’re doing that I’m waiting for everybody to type of join I’ll simply run us through the program um today we are going to discuss employing Skill new greater Information Management termination compliance and automation wow the chat has got truly actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is fantastic so uh I’m hoping that we’re really going to have some truly terrific commentary and questions throughout the uh the webinar as well okay so that’s the agenda 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 data is Can You Pay Your Papaya Global Payroll With A Credit Card complex without fail and an.
Ever developing relationship that starts the minute a person signs up with 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 understand that they’re employed with us so on boarding daily operations payment and advantages 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 accountable for collecting storing protecting worker data in compliance with information personal privacy policies no matter where it is you’re running around the globe it often involves carrying out secure data management systems and making sure rigorous adherence to local requirements to safeguard both the employee and the company the evolution of employee information and management c.