A CFO’s Point of view on Quickbooks Payroll Vs Papaya Global Payroll…
The platform allows business to manage their global workforce and comply with regional work policies and tax laws. Papaya Global offers a range of services, consisting of payroll management, benefits administration, compliance management, time and participation tracking, and HR management. The platform is designed to simplify the intricacies of worldwide payroll and supply real-time exposure and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New York, London, and Kiev.
In the dynamic landscape of worldwide service operations, managing payroll throughout borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a worldwide company, I understand the important importance of effective and certified payroll management. In our pursuit of quality, we have actually embraced innovative services to improve our processes, and one such transformative tool is Software.
The Challenge of Worldwide Payroll:
International expansion causes diverse difficulties, and payroll management is no exception. Differing tax regulations, varying employment laws, and several currencies make it essential for companies to adopt sophisticated services to make sure accuracy, compliance, and effectiveness in payroll processing.
Software: A Comprehensive Service:
employees so it’s truly essential to make sure that you have actually considered from the beginning any post-termination limitations that you wish to take into the agreement of work that they’re enforceable so that implies you need to really think about what it is you’re aiming to protect and why plainly Specify what’s consisted of within the scope of that secret information and deal with the period of limitation post-determination that you want to apply and be actually able to to justify that in relation to copyright the position truly depends on the kind of intellectual property you’re looking to secure and also the jurisdiction so for example from a copyright perspective 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 however in someplace like Poland for example that automatic right might not be there and that project would require to flow through the chain uh contractually so it really depends upon the jurisdiction and the type of IP alright thank you Elizabeth Steve was staying on the subject of contracts Miss classified misclassifying workers
Papaya Global Software has emerged as a game-changer in the realm of international payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, easy to use interface. As the CFO, I have experienced firsthand the favorable impact of on our company’s financial operations.
Unified International Payroll Processing:
enables our business to procedure payroll effortlessly throughout multiple countries. The platform’s unified technique permits constant payroll estimations, lowering errors and making sure compliance with regional regulations. This has significantly alleviated the risks associated with global payroll processing.
likewise essential for if later somebody says misclassification you have your file supported by the requisite files and that the best examination tools to show somebody that you had a thoughtful process and so what do you need 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 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 a worker so for instance accounting
I.T crafting the creatives these all lend 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 have to be on site and managed once again another key factor is the management and guidance of the uh worker and then finally when is it a specific task is it a six-month task six years all of this is manageable but it has to be recorded and it has to be thoroughly um investigated 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 worldwide these tools take a survey list for the employee the worker fills out and fills these concerns out therefore does the end client or the recipient of the services they both put their details into the tool and after that it does an evaluation waiting the different concerns because not every jurisdiction has the same feeling about some of these concerns some think they’re more important than others and it brings out a red yellow or green red you’re probably a worker yellow you’re on the cusp we can probably assist you with that in regards to a few of the important things you need to reinforce to make sure that you are considered that evaluation of uh independent specialist or green where you were assessed as an as a independent professional once that evaluation is done all the requisite files are below it so that if in the future there
Browsing the intricacies of international work laws and tax guidelines can be frustrating. Papaya Global’s automated compliance engine keeps our company updated with modifications in policies throughout jurisdictions. This makes sure that our payroll processes stick to the current standards, lessening the threat of non-compliance and associated charges.
network of In-House outside consultants accounting firms and legal companies who help us keep our databases totally as much as date and we likewise contact we need to when we see an unusual or or particularly complicated circumstances 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 participants afterwards um returning to to the webinar itself Ray employer of record is regulated differently worldwide and the German law for instance it’s classified as worker leasing can you shed any light on some of the special factors to consider for nations and where the eor model isn’t regulated yes Ian employee leasing or labor leasing as it’s likewise called which prevails in numerous countries especially in Europe enforces rigorous policies on products such as the length of task it likewise appoints workers to collective bargaining agreements that gives them rights and benefits but even in the nations that do not have those stringent regulations for example the UK Canada and the nordics there are policies for each country and each employee is dealt with the like all the other workers in that nation and all those policies require to be abided by okay thank you Ray um Kathy moving I would say to yourself what do companies need to factor in when figuring out contract status to safeguard themselves and the rights of hires what are the pros and cons of working with specialists and Freelancers versus permanent employees so clearly the the advantage of professionals versus workers is the the flexibility for both the worker and for the company um but I can’t worry enough how important it is to have a consistent comprehensive and a well-documented compliance
Quickbooks Payroll Vs Papaya Global Payroll and Time Cost Savings:
The software application’s automation capabilities have substantially lowered the time and effort required for payroll processing. Handbook information entry and recurring jobs have been lessened, permitting our finance team to focus on tactical initiatives rather than administrative burdens. This has led to increased efficiency and efficiency within our financial 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 ideal info has to be on the payslip in the best format and in the ideal position if you remain in breach of of guidelines for payslips the fines are released per payslip so that’s each employee each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to stress to think of and we’re just 2 concerns in and 10 minutes approximately employing in one country is difficult enough but when hiring in a you understand on an international level it’s a totally different story you need to ensure that you’re up to date with present along with pending local labor laws Steve um how do you ensure and make sure that the people 2.0 team is on top of an ever-changing landscape and that your customers are fully supported and I’ll arrange this into three crucial things we do in primarily you require to have the best team so we hire a team of worldwide experts in Work Practices um that ex that group of specialists includes lawyers it consists of payroll professionals it includes HR professionals and these are people that not just understand the laws in these in these countries and regions but they also know the languages they know the local practices they understand the cultures and it is necessary to have that best group and really have the group on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global provides thorough real-time analytics and reporting tools. As a CFO, having access to precise and prompt monetary 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 international payroll data.
The practical application and extent of the application to employment law can be assessed through the legal system utilizing case law examples. For example, the obtained rights instruction, also known as the 2p policies in the UK, and the working time policies have been subject to numerous legal interpretations, particularly relating to holiday pay. Furthermore, the idea of work status has seen several legal precedents over the
Scalability for Organization Growth:
One of the standout features of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software perfectly accommodates modifications in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adapt to the developing requirements of our international company.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of client services and I would state separately and collectively these three people have Years of experience in in employment law and international 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 one of our own Stars delete share head of Global Solutions at papaya International tell us about yourself thank you Elin Ian hi my name is Elite I have actually been with the company for around four and a half years as head of Partnerships I have established Papaya’s network of in-country Partners in over 160 areas on an individual aspect and related to our subject today I’ve had the chance to relocate and work in 3 different countries it is the business’s responsibility to ensure my defense while living in a foreign nation compliance with local laws and policies is important for me or anyone else as an expat or as a local so today we have invited our relied on Partners individuals 2.0 to demonstrate the significance of local
expertise when business Go Worldwide thank you and take pleasure in okay thank you as I stated let’s carry on to the pact program today’s webinar is a chance to ask the panel the concerns you have actually been thinking about we’ll go over the truths a company requires to consider when opening a brand-new entity and expanding into brand-new nations in addition to keeping things going we’ll cover elements such as local guidelines considerations when hiring compliance crucial challenges payments and what not to do it’s one of the most essential 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 comprehend and manage understanding what to do in each brand-new scenario as it increases is essential on lots of levels comprehending regional guidelines and regional laws along with organization practices helps reduce Associated and international growth papaya through our local experts can browse possible threats such as copyright security data privacy security concerns ensuring the company’s operations stay certified and safe tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has shown to be a vital property in our mission for efficient and certified international payroll management. As the CFO of an international business, I am positive in advising Papaya Global to companies looking for to improve their payroll processes, improve compliance, and attain higher efficiency in handling their worldwide workforce. The software’s ingenious features and dedication to excellence line up with our tactical objectives, making it an integral part of our financial operations.
openly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly announced settlements there’s also substantial legal expenses there exists’s other charges there’s other costs behind that too so the overall expense can be very significant in the tens of countless dollars or more and and those amounts are growing uh the reason that companies are getting it so wrong is truly just the guidelines are complicated and they’re altering all the time believe ir-35 in the UK which has actually been a continuous development for a number of years now and and still a great deal of unpredictability among companies on what it really means and how you deal with it most companies are simply not knowledgeable about 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 really proactive as you’re engaging uh workers from a category viewpoint okay thank you Stephen and moving back to yourself Ray it’s not just the company that suffers in the long run what results can this have on the staff member Quickbooks Payroll Vs Papaya Global Payroll specifically when it pertains to their own tax liabilities social security and advantages for example jury and obviously the employees the other side of the coin
I discover time and time again the employees typically misclassified unknowingly they do not understand the conditions of employment or contract and are informed by the customer why it’s optimum generally to the client why you need to be used or engaged in this fashion the employee 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 far too late years have passed they have not added to pensions Etc so it’s a big impact that they never knew they were walking into you couldn’t agree with you more if you state the UK for example hmrc can return as much as ten years um Kathy companies are getting insurance against misclassification but usually premiums are only covering the expense of legal costs whilst the average claim examined against employers corresponds to to 40 or half of the base salary of employee is there any point in securing 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 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 pack you could be rejected protection on the basis of the fact that you were not in compliance with laws um in the UK
Cost Considerations and Quickbooks Payroll Vs Papaya Global Payroll …
The thorough features of come at an expense,
Over the past few decades, the labor force has actually undergone a significant improvement with the emergence of remote work, which has actually eliminated geographical restraints on hiring. This has actually allowed services to recruit talent from all over the world, permitting them to put together the best possible team for each role. As a result, staff members have actually gained greater flexibility to work from home and increase their revenues without having to transfer to pricey locations or commute cross countries. According to a 2022 survey, 87% of workers who have the option to work from another location select to do so. The COVID-19 pandemic, combined with improvements in enterprise connectivity software application, has 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 get to know everyone my name is Ian Charles and I’ve worked in payroll for the last 25 years I have actually had functions in all kind of Industries retail and Beauty to Aerospace in all types of companies start-up to matrixed environments around the world I offered leadership and method to populations of more than 100,000 staff members on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work across the business guy maning and developing external relationships supporting Business clients and options and functioning as an advisor I wish to introduce our very first Greg um guest 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 internal legal group and in fact work very closely with our um HR department too to manage different legal and HR matters that show up so really thrilled to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our objective is to set you as HR specialists complimentary to do terrific
While Papaya Global offers combinations with numerous HR and financing systems, the application procedure was not without obstacles. Incorporating the software application with our existing facilities needed extra modification, resulting in some hold-ups in the initial rollout.
Paying FAQs Quickbooks Payroll Vs Papaya Global Payroll 2024
and some smaller sized subsidiaries within our organization discovered the rates to be on the greater side. As an international company, balancing the requirement for innovative functions with spending plan restrictions became a delicate workout.
Client Support Action Time:
There were circumstances where our groups faced problems that needed prompt support. Nevertheless, the reaction time from’s customer assistance group was not constantly as fast as preferred, resulting in occasional hold-ups in issue resolution.
Our execution of involved a phased approach. We started by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This permitted us to identify and deal with combination difficulties early on. As the software application became more instilled in our operations, we gradually expanded its use to cover our whole global workforce.
The automated features streamlined our payroll processes, minimizing the time invested in manual computations and compliance tracking. Regular training sessions and ongoing assistance from Papaya helped our groups become proficient users of the software, optimizing its capacity for our company.
Nevertheless, paying a workforce can be intricate. It is particularly challenging for business who utilize staff throughout multiple nations, as they must continuously combine various information streams, by hand track local and nationwide labor and guidelines, and spend important time and resources to set up local entities in new areas. These business are faced with suboptimal, expensive alternatives, like opening a foreign subsidiary or working with an expert work company, which is a regional company that hires staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty hiring qualified personnel, an increase of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
offers a solution supporting all forms of employment. It provides an end-to-end platform, from worker onboarding and ongoing management to worldwide payments and. It helps companies with labor law compliance in the jurisdictions in which they run, provides management of employment benefits, and guarantees data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading specialist in payroll and labor force management. She co-founded after seeing the innovation space in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to go to the total webcast in order to receive 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 internet browser with the webcast survey please be 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 discussion hi and thank you for joining us today we’re enjoyed have you here as we start a journey of information to regulation attaining
360 degree worker compliance where we’ll dive into the vital aspects of the staff member compliance management model throughout the session we’ll check out real life challenges genuine local guidelines best 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 employees while remaining compliant in an
Ever developing regulatory environment in the everchanging world of organization and financing ensuring compliance with payroll regulations is not only important however likewise a legal vital from the moment of employing to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance dangers that have significant repercussions nevertheless with a much deeper more nuanced understanding of their commitments companies can not only navigate the elaborate landscape but likewise proactively ensure this 360 degree compliance the webinar is created to equip you with the knowledge and tools essential to navigate the complex Terrain of compliance whether you’re a seasoned P specialist a small company owner or someone brand-new to the field what I want to do before we start and I think it’s really essential
In our mission to improve effectiveness and precision in managing our global labor force, our multinational corporation turned to, a leading and workforce 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 automatically updates itself to follow ever-evolving tax and labor laws across several jurisdictions. This has been invaluable in ensuring that our procedures stay compliant in each nation of operation.
is to state that the material here is illegal advice it is merely for your information please consult your legal group needs to you have any concerns or concerns in relation to anything that we’ve talked about today our key take key takeaways by the end of the webinar will be an understanding of worker compliance dangers how to work with ly with self-confidence how to simplify information management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we’ve.
work as your hris or is type of your core worker record um to handle that employee life process throughout their Journey with you as as a worker in addition to a payroll module we need to assist you pay those staff members and compensate them and advantages Administration module that permits you to help handle the benefits you supply to your staff members so really excited to be here represent um bamb booy container and speak about this subject um and I think from my perspective I’ll I’ll most likely offer a lot of a concentrate on the US side of things when we talk about kind of compliance so delighted to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a little bit about papay worldwide yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Work expert supervisor.
at I manage the work Council in the US APAC EMA and Israel region I also function as us Council for I’m certified in New York and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service work force supplier to employees serving in over.
160 countries all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were sort of like going through the introduction so it’s actually actually good to in fact 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 carry on inform where you are that would be definitely great whilst we simply wait on everybody 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 just run us through the agenda um today we are going to discuss working with Skill new higher Information Management termination compliance and automation wow the chat has actually got truly really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is wonderful so uh I’m hoping that we’re actually going to have some truly fantastic commentary and questions throughout the uh the webinar too all right so that’s the agenda then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their information is Quickbooks Payroll Vs Papaya Global Payroll diverse without fail and an.
Ever progressing relationship that starts the minute an individual signs up with a company it continues throughout their work and Beyond this journey can be divided into k to a number of essential phases whilst we’re in fact you know that they’re employed with us so on boarding daily operations payment and advantages expert development then we get to the offboarding and even advocacy so it even happens after the staff member has actually left your employment throughout the journey companies are accountable for gathering keeping safeguarding staff member data in compliance with information personal privacy policies no matter where it is you’re running around the globe it typically includes carrying out secure data management systems and making sure stringent adherence to local requirements to protect both the worker and the company the advancement of staff member data and management c.