A CFO’s Perspective on Why Are So Many Nascar Events Show Papaya Global Tv…
The platform enables business to handle their international labor force and adhere to local work guidelines and tax laws. Papaya Global offers a range of services, including payroll management, benefits administration, compliance management, time and presence tracking, and HR management. The platform is developed to streamline the intricacies of worldwide payroll and offer real-time exposure and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with offices in New York, London, and Kiev.
In the vibrant landscape of global business operations, managing payroll across borders can be a complex and challenging task. As the Chief Financial Officer (CFO) of a worldwide company, I comprehend the important significance of effective and compliant payroll management. In our pursuit of quality, we have accepted ingenious solutions to simplify our processes, and one such transformative tool is Software.
The Obstacle of Global Payroll:
Worldwide expansion brings about varied challenges, and payroll management is no exception. Differing tax policies, differing employment laws, and several currencies make it necessary for companies to adopt advanced solutions to make sure precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Solution:
workers so it’s actually fundamental to make sure that you’ve considered from the outset any post-termination restrictions that you wish to put into the contract of employment that they’re enforceable so that implies you require to really think about what it is you’re aiming to secure and why plainly Define what’s consisted of within the scope of that confidential information and attend to the period of constraint post-determination that you want to use and be really able to to justify that in relation to copyright the position truly depends on the kind of copyright you’re seeking to secure and likewise the jurisdiction so for example from a copyright perspective in the Netherlands completion 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 instantly however in somewhere like Poland for instance that automatic right may not exist and that task would need to flow through the chain uh contractually so it actually depends upon the jurisdiction and the kind of IP fine thank you Elizabeth Steve was remaining on the subject of agreements Miss classified misclassifying employees
Papaya Global Software has actually emerged as a game-changer in the world of international payroll management. Its cloud-based platform incorporates payroll, labor force management, and employee benefits into a single, user-friendly user interface. As the CFO, I have actually witnessed firsthand the favorable impact of on our company’s monetary operations.
Unified Worldwide Payroll Processing:
enables our company to procedure payroll perfectly across numerous nations. The platform’s unified technique enables constant payroll estimations, decreasing errors and ensuring compliance with local guidelines. This has actually significantly alleviated the risks related to international payroll processing.
also crucial for if later on somebody states misclassification you have your file supported by the requisite documents and that the best assessment tools to reveal somebody that you had a thoughtful procedure and so what do you need to consist of because process it’s the who the what the where and the when who are you dealing with are you handling a specific 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 lends itself more to being an independent professional than an employee so for example accounting
I.T crafting the creatives these all provide themselves more to that assessment of being freelancer you understand also uh where are they doing it can they work from anywhere or do they need to be on website 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 project is it a six-month project 6 years all of this is workable but it has to be recorded 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 internationally these tools take a survey list for the worker the employee completes and fills these concerns out and so does completion client or the recipient of the services they both put their information into the tool and then it does an examination waiting the different questions due to the fact that not every jurisdiction has the exact same sensation about a few of these concerns some think they’re more vital than others and it brings out 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 regards to a few of the important things you require to reinforce to ensure that you are given that assessment of uh independent professional or green where you were examined as an as a independent professional once that examination is done all the requisite files are underneath it so that if later on there
Navigating the intricacies of worldwide employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our company up-to-date with modifications in policies throughout jurisdictions. This ensures that our payroll processes comply with the most recent requirements, minimizing the danger of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal firms who help us keep our databases totally approximately date and we likewise call on we require to when we see an unusual or or particularly complicated scenarios okay thanks Steve I can simply see a quick concern in the Q a window yes the session will be tape-recorded and sent to guests later on um moving back to to the webinar itself Ray employer of record is managed differently worldwide and the German law for example it’s classified as staff member leasing can you shed any light on some of the unique considerations for countries and where the eor model isn’t controlled yes Ian worker leasing or labor leasing as it’s also called which prevails in numerous nations specifically in Europe enforces stringent guidelines on products such as the length of project it likewise designates employees to collective bargaining contracts that gives them rights and advantages however even in the countries that don’t have those stringent regulations for example the UK Canada and the nordics there are guidelines for each nation and each worker is dealt with the same as all the other workers in that nation and all those guidelines require to be followed okay thank you Ray um Kathy moving I would say to yourself what do business require to consider when identifying agreement status to secure themselves and the rights of hires what are the benefits and drawbacks of hiring professionals and Freelancers versus irreversible workers so certainly the the benefit of contractors versus workers is the the versatility for both the employee and for the company um however I can’t stress enough how essential it is to have a consistent thorough and a well-documented compliance
Why Are So Many Nascar Events Show Papaya Global Tv and Time Cost Savings:
The software application’s automation capabilities have actually significantly lowered the time and effort needed for payroll processing. Handbook data entry and recurring tasks have been reduced, enabling our finance team to focus on tactical initiatives instead of administrative problems. This has led to increased effectiveness and efficiency within our financial operations.
in one given that each state has its own policies Californians are a few of the most strict an example is pay slips on a payslip in California the ideal info has 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 issued per payslip so that’s each worker each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to worry to consider and we’re just two questions in and 10 minutes approximately working with in one nation is hard enough however when hiring in a you know on a worldwide level it’s a completely various story you need to make sure that you depend on date with current in addition to pending regional labor laws Steve um how do you make certain and make sure that individuals 2.0 group is on top of an ever-changing landscape and that your customers are totally supported and I’ll organize this into 3 essential things we do in primarily you need to have the ideal group so we work with a team of international experts in Work Practices um that ex that team of specialists consists of legal representatives it includes payroll professionals it consists of HR specialists and these are people that not just understand the laws in these in these nations and regions but they also understand the languages they know the local practices they know the cultures and it is necessary to have that right team and truly have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides extensive real-time analytics and reporting tools. As a CFO, having access to precise 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 worldwide payroll data.
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 acquired rights directive otherwise known as the 2p policies in the UK the working time guidelines which has actually had different strands of that legislation evaluated especially around vacation pay and of course as Kathy’s going to come on to discuss later on employment status which there’s been several precedence set throughout the years so I think it’s really that consistent development of the work law landscape that you truly require to browse when when operating in Europe okay thank you Elizabeth Ray what about you from your individual experience while moving across the pond as pointed out each nation has different guidelines but the United States is basically 50 countries
Scalability for Organization Development:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software application effortlessly accommodates modifications in our labor force and payroll requirements. This scalability ensures that our payroll facilities can adjust to the progressing needs of our international organization.
Global Chief legal officer we’ve 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 state individually and jointly these 3 individuals have Years of experience in in employment law and worldwide 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 also have one of our own Stars delete share head of Global Solutions at papaya International inform us about yourself thank you Elin Ian hello my name is Elite I’ve been with the business for around four and a half years as head of Collaborations I have developed Papaya’s network of in-country Partners in over 160 areas on a personal element and related to our subject today I have actually had the chance to move and operate in three different nations it is the business’s responsibility to ensure my defense while residing in a foreign country compliance with regional laws and policies is crucial for me or anybody else as an expat or as a local so today we have actually invited our relied on Partners individuals 2.0 to demonstrate the importance of local
competence when business Go Worldwide thank you and enjoy 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 of we’ll talk about the facts a business requires to consider when opening a brand-new entity and expanding into new countries along with keeping things going we’ll cover aspects such as regional guidelines factors to consider when employing compliance crucial obstacles payments and what not to do it is among the most crucial things remembering what not to do um operating on a global level is not for the faint-hearted the bigger a business grows the more they require to understand and handle knowing what to do in each brand-new scenario as it rises is essential on many levels comprehending local guidelines and local laws in addition to company practices helps mitigate Associated and global growth papaya through our regional specialists can browse prospective threats such as intellectual property protection data privacy security issues making sure the company’s operations remain certified and safe and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually proven to be an indispensable asset in our quest for effective and compliant global payroll management. As the CFO of a worldwide company, I am confident in suggesting Papaya Global to organizations looking for to enhance their payroll processes, enhance compliance, and accomplish greater performance in handling their global labor force. The software application’s ingenious features and dedication to excellence line up with our tactical goals, making it an essential part of our monetary operations.
I discover time and time again the employees typically misclassified unconsciously they do not comprehend the conditions of employment or agreement and are informed by the customer why it’s most advantageous primarily to the customer why you must be employed or participated in this fashion the worker may owe taxes and Social Security to the authorities the future pension and healthcare opportunities of the employee can be affected and several times it can be years before this all falls out and by that time it’s too late years have gone by they haven’t added to pensions Etc so it’s a big impact that they never understood they were walking into you couldn’t agree with you more if you say the UK for example hmrc can go back as much as 10 years um Kathy companies are taking out insurance versus misclassification but generally premiums are only covering the cost of legal charges whilst the typical claim assessed against companies relates to to 40 or 50 percent of the base salary of worker exists any point in getting insurance coverage and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes penalty and interest for the most part I haven’t seen it at least so uh the the other location 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 denied protection on the basis of the fact that you were not in compliance with laws um in the UK
Cost Considerations and Why Are So Many Nascar Events Show Papaya Global Tv …
The thorough functions of come at a cost,
Over the past few years, the workforce has gone through a significant improvement with the introduction of remote work, which has gotten rid of geographical restrictions on hiring. This has made it possible for services to hire talent from all over the world, enabling them to assemble the very best possible group for each function. As a result, workers have actually gotten higher flexibility to work from home and increase their revenues without having to transfer to pricey areas or commute long distances. According to a 2022 survey, 87% of employees who have the option to work from another location pick to do so. The COVID-19 pandemic, combined with improvements in enterprise connectivity software application, has actually further 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 learn more about everyone 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 Charm to Aerospace in all kinds of businesses start-up to matrixed environments around the world I supplied leadership and technique to populations of more than 100,000 workers on a monthly basis and in over 170 nations today I’m the perel strategist for papaya
International I work throughout business male maning and developing external relationships supporting Enterprise clients and solutions and functioning as an advisor I ‘d like to introduce our very 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 stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal group and in fact work really closely with our um HR department too to handle different legal and HR matters that turn up so truly thrilled 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 professionals totally free to do terrific
While Papaya Global deals integrations with various HR and finance systems, the execution process was not without difficulties. Integrating the software application with our existing infrastructure required additional personalization, causing some delays in the initial rollout.
Paying FAQs Why Are So Many Nascar Events Show Papaya Global Tv 2024
and some smaller sized subsidiaries within our organization found the pricing to be on the higher side. As an international company, balancing the need for sophisticated features with budget constraints ended up being a delicate workout.
Customer Assistance Response Time:
There were instances where our teams dealt with concerns that needed prompt help. However, the action time from’s consumer support team was not constantly as quick as wanted, resulting in occasional hold-ups in problem resolution.
Our application of involved 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 identify and address integration difficulties early on. As the software application became more implanted in our operations, we slowly expanded its usage to cover our entire worldwide labor force.
The automated functions streamlined our payroll processes, minimizing the time spent on manual estimations and compliance tracking. Regular training sessions and ongoing assistance from Papaya assisted our groups become competent users of the software application, optimizing its capacity for our organization.
Companies that staff member workers throughout numerous nations often deal with intricate obstacles when it concerns managing their workforce. Among the greatest difficulties is combining various data streams and adhering to diverse regional and nationwide labor regulations, which can be both lengthy and pricey. Moreover, establishing local entities in new regions can be a costly and suboptimal choice, with options such as opening a foreign subsidiary or employing a professional work organization (PEO) typically charging up to 15% of the payroll. These challenges have actually caused a significant boost in difficulty hiring qualified workers, with 75% of employers reporting this problem in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers an option supporting all types of employment. It supplies an end-to-end platform, from staff member onboarding and continuous management to international payments and. It assists business with labor law compliance in the jurisdictions in which they operate, offers management of work advantages, and makes sure information privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading expert in payroll and labor force management. She co-founded after seeing the innovation gap in global.
papaya this webcast has 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 throughout the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your web browser with the webcast survey please make sure to finish it as soon 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 information to guideline attaining
360 degree worker compliance where we’ll dive into the necessary aspects of the employee compliance management model throughout the session we’ll check out real life challenges genuine local guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to secure your organization and workers while remaining certified in an
Ever evolving regulatory environment in the everchanging world of organization and financing ensuring compliance with payroll policies is not only crucial however also a legal crucial from the minute of employing to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance dangers that have far-reaching repercussions however with a much deeper more nuanced understanding of their commitments companies can not only navigate the detailed landscape however also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the understanding and tools essential to navigate the complex Terrain of compliance whether you’re an experienced P specialist a small company owner or someone new to the field what I want to do before we begin and I believe it’s truly crucial
In our quest to enhance performance and precision in handling our global labor force, our multinational corporation turned to, a leading and labor force management software application. The transition intended to simplify the complex job of handling throughout different nations, currencies, and compliance policies.
One of the standout functions of is its robust compliance management system. The software application immediately updates itself to adhere to ever-evolving tax and labor laws across several jurisdictions. This has been important in ensuring that our processes stay compliant in each nation of operation.
is to state that the material here is illegal advice it is just for your info please consult your legal group must you have any concerns or issues in relation to anything that we’ve gone over today our key take essential takeaways by the end of the webinar will be an understanding of worker compliance risks how to employ ly with confidence how to simplify data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
serve as your hris or is kind of your core staff member record um to handle that worker life cycle throughout their Journey with you as as a worker in addition to a payroll module we need to assist you pay those workers and compensate them and advantages Administration module that enables you to assist handle the advantages you offer to your employees so actually excited to be here represent um bamb booy container and talk about this topic um and I guess from my point of view I’ll I’ll most likely supply a lot of a focus on the United States side of things when we discuss sort 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 introduce yourself and tell the audience a little bit about papay global yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Work expert supervisor.
at I handle the work Council in the US APAC EMA and Israel area I likewise work as us Council for I’m licensed in New york city and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and workforce management as a Service work force supplier to workers serving in over.
160 countries all right thank you so both I feel totally underqualified sitting here with you both well I forgot to mention as we were type of like going through the introduction so it’s actually actually nice to really see in the webinar chat where everybody’s actually attending from today I can see that we have people in Las Vegas and Indiana already so if you wish to continue inform where you are that would be definitely wonderful whilst we simply await everyone else to sort of like take part there we go Chicago too well um so whil we’re doing that I’m awaiting everyone to kind of join I’ll simply run us through the program um today we are going to discuss employing Skill new greater Details Management termination compliance and automation wow the chat has actually got really really busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely everywhere which is wonderful so uh I’m hoping that we’re really going to have some actually excellent commentary and questions throughout the uh the webinar as well fine 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 an employee and their data is Why Are So Many Nascar Events Show Papaya Global Tv multifaceted without fail and an.
Ever developing relationship that begins the minute a person joins a company it continues throughout their work and Beyond this journey can be divided into k to several crucial phases whilst we’re in fact you understand that they’re employed with us so on boarding everyday operations settlement and advantages expert development then we get to the offboarding and even advocacy so it even occurs after the worker has left your employment throughout the journey companies are responsible for collecting keeping safeguarding employee data in compliance with information personal privacy regulations no matter where it is you’re operating around the world it often includes executing safe and secure data management systems and making sure strict adherence to regional requirements to protect both the employee and the organization the advancement of worker information and management c.