Here at Papaya Global, we love the level of insight that we get from speaking with our enterprise customers, and it often informs our decision-making about the technology that we build. Over the last few years, we’ve heard a lot of customers talk about how they aren’t necessarily unhappy with their local or global solutions for payroll management, but they are suffering with a lack of visibility, control and automation when working in a global space.
Many of these companies have 5,000+ employees scattered across 15 or 20 locations, and the pandemic has only accelerated this disparate way of working. They may not be looking to spend the time and resources necessary to rip and replace all of their existing partnerships, but they do want a more flexible, modular, compliant, and automated way of managing a global workforce.
If this sounds familiar, then our Total Payroll Solution would probably solve a lot of your problems, and could shorten your route to digitization by as much as 90%.
Consolidate, Standardize and Automate Your Global Payroll Technology
The way it works is simple. We implement our technology as an interface between your enterprise and your existing in-country partners or payroll suppliers. This means that you can benefit from all of the features and functionality of our best-of-breed technology, without the need to replace your own partnerships.
Let’s imagine a typical enterprise, with 10,000 employees in 25 countries, plus dozens of additional locations where individuals or small teams work remotely or from home. This enterprise has a full technology stack, including HRIS and ERP systems, Expense Management, and both Time & Attendance and Scheduling platforms.
Papaya’s Total Payroll Solution sits holistically within your enterprise, pulling and integrating data from all of these systems in an agnostic way. That means no more manual work consolidating information, no more effortful labor-intensive processes, and a far more compliant environment where data is checked and managed using automation and AI.
Adding Data Security and Compliance to Your Processes
However, it’s about a lot more than simply consolidating your existing technology into one place. Papaya acts as an essential added layer of control and oversight for all of your existing local and global partnerships. That means your employee data (and let’s be honest – this is some of the most sensitive information you can think of, including social security or tax IDs, medical records, and financial data) is managed using the highest standards.
Our global payroll platform supports SSO, complies with GDPR and ISO 27001, and we are SOC1 compliant. When your providers download and upload information to and from Papaya, you’re eliminating the risks related with using email or shared files for communication.
We also safeguard your payroll from errors and non-compliance through our built-in compliance and accuracy engines. With the context for your local regulations baked into our calculations, the platform will detect any gaps or discrepancies, auditing your data so make sure there are no mistakes. If 1,023 employee records are sent to your vendor, we ensure you get 1,023 back, tracking that there are no errors in the files – such as pension or National Insurance contributions that exceed the maximum for your employee’s specific region.
Customize Your Workflow to the Way that You Work
Your enterprise is a small world in and of itself, and while other technologies might expect you to bend, we recognize that flexibility is our job – not yours. The Total Payroll solution is intended to give you the ultimate level of control over managing your people and payroll, so we offer fully customizable roles and permissions and tailor-made approval chains so that you can ensure only the right people have access to sensitive information.
Allow Gary from HR to view and edit your Scandinavian Payroll, while Alicia from the Operations team can view global payroll information, but can’t make any changes. Your VP Finance can view information for your global enterprise, and meanwhile, the Head of Finance for Europe has admin permissions in EMEA, but is locked out elsewhere. If you’ve ever sent an email to the wrong person, you’ll know how easily it can be done. With roles and permissions assigned and aligned with business requirements ahead of time, you’re never left unstuck.
Adding a Single View for a Global Workforce
Do you have staff members who are doing the exact same processes in different locations, leading to bookkeeping issues and compliance discrepancies? Our platform automates the mapping of General Ledger and Journal Entry files, so that they are aligned with your needs and fully compliant. You get a single view of the information pushed back into your ERP, with multiple rules consolidated into one file that provides all the information in one place.
This obviously reduces the risk of human error, but more than that – it also makes the process much faster, and frees up your accounting staff to do more elsewhere.
As we’ve already done the consolidation and mapping of all of your information, we can also offer live reporting capabilities for your global enterprise. You probably have a Business Intelligence team that collects information at the end of each month and perhaps presents it at quarter’s end with a retroactive report of how you’ve been doing across different business KPIs.
Scratch that, and reimagine the way you receive intelligence about your business. The Total Payroll Solution platform is a real-time data source for your employees all around the world, and presents a single place via our HR and payroll analytics to view all of your spending, processes and behavior, accurately and without gaps. Ask yourself questions like “Which location is providing ROI?” “How has employee turnover been this quarter, compared to this time last year?” and “Which local partner has compliance red flags?” and get answers at a glance.
Reduce Risk When Making Global Payments
Once the data has been securely pushed back into the management platform by your local in-country partners or payroll vendors, you can also generate and execute your payments from inside the platform with full automation. Our cross-border payment solution is known for offering short time to payment for your employees, and we also include a smart virtual bank account system to handle the transaction on your behalf, pre-funded each cycle to reduce your risk of working with local partners.
If Rip and Replace Feels Wrong for Your Enterprise – Add Automation and Flexibility to Your Current Processes Instead
Why should you need to end the partnerships that are working for your enterprise, or limit the technology that you use for streamlining and managing the complexities of your business environment? Instead of a comprehensive transition, we harness RPA, AI and cloud-based systems to play nicely with your existing workflow, giving you the full benefits of SaaS to provide a new layer of oversight and control.
Ready to enhance compliance, visibility, decision-making and control by bringing together real-time data on your globally distributed payroll? Schedule a demo to see how it works for yourself.