A CFO’s Point of view on Loket Papaya Globals Surabaya…
Papaya Global’s platform simplifies worldwide workforce management for business, guaranteeing compliance with regional policies and tax laws. Their services encompass payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes international payroll operations, offering companies with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of international company operations, handling payroll throughout borders can be a complex and challenging job. As the Chief Financial Officer (CFO) of an international company, I comprehend the important importance of effective and compliant payroll management. In our pursuit of excellence, we have actually embraced innovative solutions to enhance our processes, and one such transformative tool is Software.
The Challenge of International Payroll:
International growth produces diverse difficulties, and payroll management is no exception. Differing tax guidelines, varying employment laws, and multiple currencies make it essential for companies to embrace sophisticated services to guarantee precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Service:
It is important to consider and include post-termination restrictions in the employment agreement to guarantee enforceability. You should thoroughly determine what you are seeking to protect and clearly define the secret information that falls within its scope. Furthermore, define the period of the post-termination constraint and be prepared to validate it in relation to intellectual property. The rules concerning intellectual property differ depending upon the type of IP and the jurisdiction. For example, in the Netherlands, completion customer is most likely to have copyright rights over works produced by workers under their guidance, while in Poland, contractual assignment might be necessary.
Papaya Global Software has emerged as a game-changer in the world of global payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly interface. As the CFO, I have actually experienced firsthand the positive impact of on our company’s monetary operations.
Unified Worldwide Payroll Processing:
allows our business to procedure payroll effortlessly across multiple countries. The platform’s unified approach permits consistent payroll computations, reducing errors and guaranteeing compliance with regional guidelines. This has actually significantly reduced the threats connected with global payroll processing.
also key for if later someone says misclassification you have your file supported by the requisite documents which the best examination tools to reveal someone that you had a thoughtful procedure therefore 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 dealing with a private or are you handling an individual 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 staff member so for example accounting
I.T engineering the creatives these all provide 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 website and managed once again another essential factor is the management and supervision of the uh worker and after that lastly when is it a particular project is it a six-month project six years all of this is workable however it needs 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 enhanced it this year so that we can roll it out internationally these tools take a survey list for the worker the worker completes and fills these concerns out therefore does the end client or the recipient of the services they both put their info into the tool and then it does an evaluation waiting the various questions since not every jurisdiction has the same sensation about some 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 some of the things you need to reinforce to make sure that you are considered that evaluation of uh independent specialist or green where you were evaluated as an as a independent professional once that evaluation is done all the requisite documents are below it so that if later on there
Automated Compliance:
Browsing the complexities of global work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization updated with changes in regulations across jurisdictions. This guarantees that our payroll procedures abide by the current requirements, minimizing the threat of non-compliance and associated penalties.
network of In-House outside advisors accounting companies and legal firms who help us keep our databases entirely approximately date and we likewise get in touch with we require to when we see an uncommon or or especially complex scenarios fine thanks Steve I can simply see a fast concern in the Q a window yes the session will be recorded and sent to guests afterwards um moving back to to the webinar itself Ray company 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 some of the unique considerations for countries and where the eor model isn’t regulated yes Ian worker leasing or labor leasing as it’s also called which prevails in numerous countries particularly in Europe enforces rigorous guidelines on items such as the length of project it likewise assigns employees to collective bargaining agreements that gives them rights and advantages but even in the nations that don’t have those strict policies for example the UK Canada and the nordics there are guidelines for each country and each employee is dealt with the same as all the other employees in that country and all those guidelines need to be followed okay thank you Ray um Kathy moving I would state to yourself what do companies need to consider when figuring out agreement status to secure themselves and the rights of hires what are the pros and cons of hiring professionals and Freelancers versus permanent workers so undoubtedly the the advantage of contractors versus workers is the the versatility for both the employee and for the employer um however I can’t worry enough how essential it is to have a constant thorough and a well-documented compliance
Performance
Loket Papaya Globals Surabaya and Time Savings:
The software application’s automation capabilities have actually significantly decreased the time and effort required for payroll processing. Handbook information entry and repetitive jobs have actually been minimized, allowing our finance team to focus on tactical initiatives rather than administrative concerns. This has actually resulted in increased efficiency and efficiency within our monetary operations.
in one because each state has its own regulations 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 best format and in the right position if you’re in breach of of policies for payslips the fines are released per payslip so that’s each staff member each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to stress to think of and we’re just 2 questions in and 10 minutes or so working with in one nation is challenging enough however 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 existing in addition to pending regional labor laws Steve um how do you ensure and ensure that the people 2.0 group is on top of an ever-changing landscape and that your clients are fully supported and I’ll arrange this into three crucial things we carry out in firstly you need to have the right group so we hire a team of worldwide professionals in Employment Practices um that ex that group of professionals consists of lawyers it consists of payroll specialists it consists of HR specialists and these are people that not just know the laws in these in these countries and areas but they also understand the languages they understand the regional practices they understand the cultures and it is essential to have that ideal group and really have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides detailed real-time analytics and reporting tools. As a CFO, having access to precise and prompt financial information is vital for decision-making. The platform’s reporting capabilities empower me to make educated tactical decisions based upon real-time insights into our global payroll data.
The practical application and extent of the application to work law can be assessed through the legal system using case law examples. For example, the gotten rights regulation, also known as the 2p policies in the UK, and the working time policies have gone through different legal interpretations, especially regarding vacation pay. In addition, the concept of employment status has seen several legal precedents over the
Scalability for Service Growth:
Among the standout functions of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software application effortlessly accommodates changes in our workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the evolving 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 Look who is our senior vice president of client services and I would state separately and jointly these three people have Years of experience in in employment law and international Work Practices so thank you it’s an enjoyment to be with everybody here today sounds 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 Provider at papaya Worldwide tell us about yourself thank you Elin Ian hi my name is Elite I’ve been with the business for around 4 and a half years as head of Collaborations I have actually established Papaya’s network of in-country Partners in over 160 places on a personal aspect and related to our subject today I have actually had the opportunity to move and operate in three different nations it is the company’s responsibility to guarantee my defense while living in a foreign country compliance with regional laws and guidelines is vital for me or anybody else as an expat or as a regional so today we have actually welcomed our trusted Partners people 2.0 to demonstrate the value of local
proficiency when companies Go Worldwide thank you and delight in all right thank you as I said let’s proceed to the pact agenda today’s webinar is an opportunity to ask the panel the questions you have actually been thinking of we’ll go over the realities a business requires to think about when opening a new entity and expanding into brand-new countries along with keeping things going we’ll cover elements such as local regulations considerations when working with compliance essential challenges payments and what not to do it is among the most crucial things remembering what not to do um operating on an international 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 increases is necessary on numerous levels understanding regional guidelines and local laws in addition to company practices assists alleviate Associated and global growth papaya through our local experts can navigate possible threats such as copyright protection data privacy security issues ensuring the business’s operations stay certified and protected tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has shown to be an indispensable asset in our mission for efficient and compliant worldwide payroll management. As the CFO of a worldwide company, I am positive in suggesting Papaya Global to organizations seeking to improve their payroll procedures, enhance compliance, and attain higher performance in handling their worldwide workforce. The software’s innovative features and dedication to excellence align with our tactical goals, making it an essential part of our financial operations.
publicly 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 expenses there exists’s other penalties there’s other costs behind that as well so the total expense can be very significant in the 10s of millions of dollars or more and and those amounts are growing uh the reason business are getting it so wrong is actually simply the guidelines are intricate and they’re altering all the time believe ir-35 in the UK which has been a continuous advancement for numerous years now and and still a lot of unpredictability among business on what it truly indicates and how you handle it most employers are merely not knowledgeable about the guidelines and and act as if the the rules are the same all over which they’re not so so encourage you to to be extremely proactive as you’re engaging uh workers from a classification perspective fine thank you Stephen and returning to yourself Ray it’s not just the company that suffers in the long run what results can this have on the staff member Loket Papaya Globals Surabaya especially when it concerns their own tax liabilities social security and advantages for example jury and clearly the employees the other side of the coin
I find time and time again the employees often misclassified unknowingly they do not comprehend the conditions of work or contract and are informed by the client why it’s most advantageous generally to the customer why you ought to be used or taken part in this fashion the worker might owe taxes and Social Security to the authorities the future pension and healthcare privileges 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 gone by they haven’t contributed to pensions Etc so it’s a huge effect that they never understood they were strolling into you could not agree with you more if you say the UK for example hmrc can go back as much as ten years um Kathy business are getting insurance coverage against misclassification however usually premiums are only covering the expense of legal charges whilst the average claim evaluated against companies corresponds to to 40 or 50 percent of the base salary of worker is there any point in securing insurance coverage and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes charge and interest in most cases I haven’t seen it a minimum of 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 pack you could be rejected protection on the basis of the reality that you were not in compliance with laws um in the UK
Expense Considerations and Loket Papaya Globals Surabaya …
The extensive features of come at a cost,
Over the past few decades, the workforce has gone through a considerable transformation with the development of remote work, which has actually gotten rid of geographical restraints on hiring. This has enabled companies to recruit skill from all over the world, permitting them to put together the best possible group for each role. As a result, staff members have gained greater versatility to work from home and increase their revenues without having to relocate to costly areas or commute long distances. According to a 2022 study, 87% of staff members who have the option to work remotely select to do so. The COVID-19 pandemic, combined with advancements in business connection software, has actually even more sped up the shift towards remote work, even in industries that were at first hesitant to embrace the trend.
insights are important to us and and your fellow attendees so first things initially 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’ve had roles in all sort of Industries retail and Appeal to Aerospace in all types of services startup to matrixed environments across the globe I provided management and technique 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
International I work throughout the business guy maning and building external relationships supporting Business clients and services and serving as an advisor I want to present our first Greg um guest Greg who will kick things off by telling 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 in-house legal team and in fact work very closely with our um HR department too to handle different legal and HR matters that turn up so really excited to be here about bambo HR if if you’re not familiar with us uh at bambo HR we say our objective is to set you as HR professionals complimentary to do terrific
integration Challenges:
While Papaya Global offers combinations with numerous HR and finance systems, the application procedure was not without challenges. Incorporating the software with our existing facilities required additional personalization, resulting in some delays in the initial rollout.
Paying FAQs Loket Papaya Globals Surabaya 2024
and some smaller sized subsidiaries within our company discovered the pricing to be on the higher side. As a worldwide company, stabilizing the requirement for advanced functions with budget constraints ended up being a delicate workout.
Customer Assistance Action Time:
There were circumstances where our groups dealt with problems that needed prompt assistance. However, the reaction time from’s customer support group was not always as fast as preferred, leading to periodic hold-ups in problem resolution.
Our implementation of included a phased method. We began by onboarding a few subsidiaries to test the system’s compatibility with our existing procedures. This permitted us to recognize and address integration obstacles early on. As the software application became more ingrained in our operations, we gradually broadened its usage to cover our entire international workforce.
The automated functions structured our payroll processes, decreasing the time invested in manual calculations and compliance tracking. Regular training sessions and ongoing support from Papaya assisted our groups become proficient users of the software, optimizing its capacity for our organization.
Business that employee workers throughout numerous nations frequently deal with intricate challenges when it concerns managing their labor force. Among the greatest hurdles is consolidating numerous information streams and adhering to diverse local and national labor policies, which can be both lengthy and costly. Furthermore, establishing regional entities in new areas can be a costly and suboptimal alternative, with options such as opening a foreign subsidiary or employing a professional work organization (PEO) frequently charging up to 15% of the payroll. These obstacles have actually led to a significant increase in difficulty recruiting qualified personnel, with 75% of companies reporting this concern in 2022, a 21% increase from 2019. The payroll and HR solutions market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
provides a service supporting all forms of employment. It offers an end-to-end platform, from employee onboarding and ongoing management to global payments and. It assists business with labor law compliance in the jurisdictions in which they operate, provides management of work benefits, and ensures 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 workforce management. She co-founded after seeing the innovation space in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure 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 new tab will open in your web browser with the webcast survey please be sure to finish it as quickly as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hi and thank you for joining us today we’re thrilled to have you here as we embark on a journey of data to regulation achieving
360 degree employee compliance where we’ll dive into the vital elements of the worker compliance management model throughout the session we’ll check out real life obstacles genuine local guidelines finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to secure your organization and staff members while remaining compliant in an
Ever developing regulatory environment in the everchanging world of organization and finance guaranteeing compliance with payroll policies is not just vital however likewise a legal crucial from the moment of working with to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance risks that have significant consequences however with a deeper more nuanced understanding of their commitments companies can not only browse the elaborate landscape however also proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools needed to navigate the complex Surface of compliance whether you’re a skilled P professional a small company owner or somebody brand-new to the field what I wish to do before we start and I think it’s truly important
In our quest to boost performance and precision in managing our worldwide labor force, our international corporation turned to, a leading and labor force management software. The shift aimed to streamline the complex job of handling across various countries, currencies, and compliance guidelines.
The Excellent:
Compliance Management:
Among the standout features of is its robust compliance management system. The software instantly updates itself to stick to ever-evolving tax and labor laws across numerous jurisdictions. This has been vital in guaranteeing that our processes remain compliant in each country of operation.
is to state that the content here is not legal suggestions it is just for your information please consult your legal group ought to you have any questions or concerns in relation to anything that we have actually gone over today our secret take essential takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to employ ly with 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.
function as your hris or is type of your core staff member record um to manage that worker life cycle throughout their Journey with you as as a staff member in addition to a payroll module we need to assist you pay those workers and compensate them and benefits Administration module that enables you to assist manage the benefits you provide to your employees so truly thrilled to be here represent um bamb booy jar and talk about this subject um and I think from my point of view I’ll I’ll most likely supply a great deal of a concentrate on the US side of things when we discuss sort of compliance so delighted to be here thanks for having me Ian alright thanks Greg um Gina over to you would you like to present yourself and inform the audience a bit about papay worldwide yes definitely thank you Ian hi everybody I’m Gina dorelis I’m the Work expert supervisor.
at I manage the employment Council in the US APAC EMA and Israel area I likewise work as us Council for I’m licensed in New York and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service work force supplier to employees serving in over.
160 nations alright thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the introduction so it’s actually actually great to actually see in the webinar chat where everybody’s actually going to from today I can see that we have people in Las Vegas and Indiana currently so if you wish to continue tell where you are that would be definitely great whilst we just await everybody else to type of like join in there we go Chicago also well um so whil we’re doing that I’m waiting on everyone to type of join I’ll just run us through the program um today we are going to discuss working with Skill new higher Details 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 originating from absolutely everywhere which is wonderful so uh I’m hoping that we’re in fact going to have some really excellent commentary and concerns throughout the uh the webinar too all right so that’s the agenda then what I want 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 Loket Papaya Globals Surabaya complex without fail and an.
Ever progressing relationship that begins the moment a person signs up with a company it continues throughout their employment and Beyond this journey can be divided into k to several crucial stages whilst we’re actually you understand that they’re employed with us so on boarding day-to-day operations settlement and benefits expert advancement then we get to the offboarding and even advocacy so it even occurs after the staff member has left your work 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 operating all over the world it often involves executing safe information management systems and ensuring rigorous adherence to regional requirements to safeguard both the worker and the organization the advancement of employee data and management c.