As the nature of work has changed around the world, technology has responded to meet the needs of an increasingly global workforce. Employers and employees alike have sought solutions that make it easier to get paid across borders, and in different currencies, combined with the needs for fast payments that are not burdened by bank charges and delays.
Leading fintech innovator Papaya Global has responded to these and other challenges posed by the needs of a global workforce, and has brought a unique approach to helping businesses and organisations to manage their international payroll.
The company’s success and contribution to international business has been recognized by Papaya Global being included in the TIME100 2023 Most Influential Companies List, the first ever payroll and payments company to feature.
A Financial Evolution
Papaya Global a disruptor and leader in the global payroll sector, and has made essential financial processes, such as paying workers or making deductions, simpler and more efficient.
It has developed the technology also to make it easier for businesses and organizations of all sizes to engage the services of Global Professional Employer Organizations, also known as an EOR, or Employer of Record; in turn enabling companies and start-ups to more easily access the global talent pool when hiring overseas.
Papaya Global’s technology suite automates and unifies payroll and payments whilst also integrating with an organization’s existing software and critical tools such as Netsuite and Workday
CEO’s Financial Perspective
Papaya Global vision is to recognize the importance of payroll in an organization’s financial structure.
As Eynat Guez, CEO and Co-Founder of Papaya Global has said, “Payroll is the most important process in any organisation, and it deserves the best technology and attention.
“Today’s companies operate, employ, and pay globally, but rely on yesterday’s local manual tools. Thanks to Papaya’s innovation, these companies can cut 90% of payroll processing time and transform their entire Payroll & Payments operations within one payroll cycle.”
This is why Papaya’s technology has proved invaluable both to major corporations, middle-sized enterprises expanding into new markets, and startups looking to find and engage the best talent wherever in the world they’re located.
TIME100’s Financial Elite
“TIME100’s recognition is a validation of our vision to provide our customers with control, compliance, and transparency of their workforce worldwide,” said Eynat Guezin in response to being named in the 2023 list.
In compiling the list, the TIME100 Companies editors receive nominations in all sectors, and seek information from a global network of business analysts and writers. It evaluates each company in terms of its impact, innovation, ambition, and success, and the final list features 100 businesses driving change and charting the path forward.
Now valued at around $3.7 billion, Papaya Global has garnered large numbers of industry awards since its founding in 2016, of which being featured in the TIME100 2023 Most Influential Companies List is just the latest.
For instance, Papaya has received the Automation and Integration Award from the Global Payroll Association, been featured in the Forbes Cloud 100 for three years in a row, and been named as one of Dun & Bradstreet’s Top 10 Best Centaurs to Work For, while also winning Best Innovative or Emerging Tech Solution at the HR Tech Awards.
In addition, Eynat Guez was named one of Fortune’s 15 Most Powerful Women in Startups in 2022.