Papaya is dedicated to revolutionizing global payroll, payments, and workforce management through our breakthrough technology for all types of companies and all employment options.
The goal is to create the workforce management platform that will become the industry standard. A look at Gartner’s Market Guide for Multi-country Payroll Solutions for 2021 shows that Papaya is well on its way to that goal.
For the third straight year, Papaya Global has been featured in Gartner’s definitive report on key trends in the global payroll industry. Papaya Global was one of 18 multi-country payroll companies profiled individually in the report.
Taken together, the companies provide a broad view of the entire industry. With Papaya’s leadership position, it is no longer possible to present a view of global payroll without including Papaya’s contribution to the field.
Papaya was singled out as representative of several trends:
- Gartner noted that the shift to remote has opened opportunities for multi-country payroll providers like Papaya, which offer EoR solutions alongside their payroll offerings.
- In the section on pay equity, the report noted that Papaya was among a small group of payroll companies that provide pay equity dashboards to address the growing trend of companies looking to monitor disparities in pay across the company and hiring across gender and ethnicity.
In Gartner’s profile of Papaya, the report singles out recent innovations by Papaya, including the automatic payslip parsing through automated context detection; RPA-based payment processing; and salary benchmarking that gives clients a salary range for multiple locations and hiring trends in those locations.
Papaya’s Solution Well Ahead of the Market
A broader look at the Gartner report, including its assessment of the field and recommendations for moving forward show that Papaya’s key offerings are well ahead of the industry.
- In the “Key Findings” section, Gartner points to the emerging importance of payroll data for keeping track workforce costs – something Papaya has been offering its clients for years through Papaya’s real time workforce analytics suite.
- The report notes that hyper-automation of payroll is moving toward mainstream adoption. In the “Emerging Trends” section, the report adds that hyper-automation often includes the use of RPA. This is a major part of the technology revolution Papaya has been leading – and a key pillar for the Papaya Platform.
- In the “Recommendations” section, Gartner suggests investing in a multi-country payroll strategy that emphasizes compliance and suggests selecting providers that are vigilant and pro-active on regulatory changes. As a benefit of the aggregate model, Papaya’s network of in-country partners is always pro-active about labor law and tax changes.
- Another recommendation offered in the report is to place an emphasis on the employee experience. Papaya has already unveiled a series of tools designed specifically to help companies engage employees and provide a first-rate employment experience.
- In the “Strategic Planning Assumptions” section, the report predicts that by 2024, 60% of payroll processing and audits will be automated. The Papaya Platform is fully automated and it includes an advanced compliance and accuracy engine.
- The report put a special emphasis on the importance of Certified Integrations, particularly in the area of Human Capital Management. HRIS integration (along with integration for all workforce management tools) is a core element of Papaya’s offering, which is system agnostic and integrates will all management tools on the market today.
- In the “Multi-country Payroll Investment Drivers, the report included standardization of processes for all countries. This has been part of Papaya’s core offering since Papaya first introduced the Papaya Platform.
All of these elements show that Papaya’s vision for the future of multi-country payroll is only now being recognized as the correct path – one that Papaya has been leading for years. In the meantime, Papaya continues to point the way to the future with its new offerings and innovations.
Get the Papaya Experience in People, Payroll, and Payment Management
Papaya offers an end-to-end solution for the total workforce, supporting all types of global workers (payroll, EoR, and contractors) in over 160 countries.
Our automated, cloud-based SaaS payroll software provides an end-to-end solution, from onboarding and people management to payroll processing to payments.
The automated platform ensures payroll compliance, provides benefit management, and ensure data privacy in compliance with GDPR. Papaya’s knowledge center provides updated information on salary benchmarks, mandatory benefits, tax rates, and more – everything you need to know before hiring overseas.
Contact us for a strategic consultation on our global workforce management platform.