What takes other solutions years to achieve, Papaya’s platform completes in just four weeks
NEW YORK, Sept. 3, 2024 /PRNewswire/ — Papaya Global, the workforce payroll and payments platform, is transforming payroll by making it a tech-first solution. Instead of the rip-and-replace approach of changing payroll country by country, which takes years, Papaya enables customers to streamline their global payroll processes in every location in just four weeks. Papaya’s solution meets the needs of large-scale multinational companies, with both in-house and outsourced payroll teams. The announcement comes in time for companies to adopt before Q4 and strategic planning for 2025 begins.
The current implementation approach requires a separate transition process per country, since it’s forcing the change of the local payroll providers. This long and complex process requires a tight plan and a time frame of 1-5 years. Papaya’s 4-week “Platform first” approach changes the traditional order of things by offering technology first, and local payroll providers later. In this way, clients gain a positive ROI in just four weeks, with fast, easy and effortless implementation which is executed in just four steps:
- Week One: Data onboarding – Papaya’s platform imports data, automatically recognizing any data format for up to 100,000 workers – no manual data mapping required by clients.
- Week Two: Data validated by AI – Papaya’s AI-powered tools validate all data automatically, no matter which local partners or data formats are used.
- Week Three: Business intelligence (BI) and analytics – All data from existing partners can now be seen and managed via Papaya Workforce OS, providing full transparency of global payroll in every location in one place.
- Week Four: Payments ready – Embedded payment solution is available for clients enabling them to pay local currency of 160+ countries via Workforce OS, with same-day delivery including authority payments.
Using Papaya, companies can easily connect all current payroll data and payroll processing teams (either in country partners or in-house teams) and gain data validation, unified formats, data connectors, and payments connector first. Once global payroll unified is completed, companies can choose, per location, whether to change the ICP to Papaya’s direct processing team, or keep the platform as is, on top of existing processors. This approach provides immediate ROI on their global payroll platform and saves hours of manual processes while ensuring privacy and data requirements.
Advantages of this process include:
- Full visibility: Customers have end-to-end visibility and control of their entire global payroll and payments. Papaya’s HCM Cloud Connector syncs and consolidates all pre-payroll data from any source and formats it to Workforce OS without manual work, reducing errors by 95%.
- Payroll validation: Once all data is onboarded, Papaya uses its AI-powered payroll validation engines to make sure all payroll and payments data is 100% accurate for every employee.
- BI and analytics: Once data is consolidated and standardized, customers can access robust reporting and analytics tools that enable them to turn global data into powerful business insights like the full-picture-view of payroll, all the way to individual employee specific info.
- Payroll payments: Papaya automatically transforms payroll data into full-service payment execution. Now, customers can pay their global employees in 160+ countries in their local currency accurately and on-time, using dedicated payment rails for payroll payments, enabling 95% same-day payroll payments.
- Employees mobile app: Employees can easily access payslips, periodic statements, benefits information through the personal mobile app, helping employees stay on top of their personal finances, which enhances employee retention and productivity.
“We can see the actual value of tech only when it’s implemented. Innovation is only as good as its adaptability,” said Eynat Guez, Papaya CEO and Co-Founder. “Our platform-first approach is all about quick implementation and fast adoption, while giving our customers the flexibility and reliability they seek. Global enterprises don’t just need tools, they need tools that can lead to scale, without slowing down operations. That’s what we aim to achieve here: an interconnected and effortless payroll and payments process while running business as usual.”
To support the launch, Papaya Global is also running a digital ad campaign with a commercial that reflects on the failed payroll transformation processes of the past, and how Papaya can help companies achieve their goals in just four weeks. The commercial will run on YouTube and via paid media campaigns with publications including Forbes, The Wall Street Journal, Bloomberg, Washington Post, The Economist, Fortune, and Fox Business.
Papaya’s Global Workforce Platform is available now. To learn more, visit https://www.papayaglobal.com/platform/.
About Papaya:
In an ever-expanding world economy, Papaya Global, co-founded by CEO Eynat Guez in 2016, is the tech-first workforce payments platform. Papaya’s Workforce OS enables organizations to hire globally and pay locally, on time every time. Delivering full compliance and liability coverage, and supporting all employment models, Papaya’s platform uses AI to consolidate and automate payroll and payments operations to seamlessly connect HR and Finance tech stacks. Streamlining these business-critical processes optimizes their efficiency and transparency, transforming workforce payments from an organization’s biggest expense and liability, into its strongest strategic asset. Papaya has recently been named NetSuite International Partner of the Year, as a Leader in NelsonHall’s NEAT Matrix, and recognized by top tier publications including Inc, Forbes, and CNBC. Papaya Global serves customers like E-Toro, SentinelOne, Soda Stream, Contentsquare and others, in 160+ countries worldwide.
SOURCE Papaya Global