Papaya Global Launches New Suite of AI-Based Solutions to Enable Global Enterprises to Pay Their Workforce with Ease and Confidence

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Nov 19, 2024, 09:00 ET

Papaya's AI-powered platform serves enterprises via specific features designed to support large-scale multiple workforce and payments needs and offers digitalization, compliance, and cost savings.

NEW YORK, Nov. 19, 2024 /PRNewswire/ -- Papaya Global, the workforce payment and payroll platform, today announced a groundbreaking suite of innovations set to revolutionize global workforce management in 2025. This innovative platform addresses the complex challenges faced by multinational enterprises in managing payroll and payments across borders. This newest innovation from Papaya is the product of two dedicated development teams and 5000 development hours.

"After listening to our customers and rigorously planning and developing how to serve their global workforce needs, I'm excited to launch the next phase of our platform technology," said Amit Levi, Papaya Global's SVP Product."

The new Papaya Global platform transforms payroll and payments through the following four pillars:

Real-time Workforce Payments: Enable payments to anyone, anywhere, in 130+ currencies with real-time or same-day transactions. This single flow process provides full visibility and control over global payments through a single interface, effectively transforming global payroll data into global payments in 130 currencies. Papaya offers a set of unique features designed for workforce – split payments, payments in multiple currencies, guaranteed land date, and authorities' payments.
AI-powered Payroll Data Validation Agent: An industry-first AI system that achieves 99.7% data accuracy and ensures compliance with local regulations in over 160 countries. This breakthrough reduces manual validation work by 90%.
AI Data Cloud Connectors for Payroll and Payments: Seamlessly integrate HR and financial data from multiple sources into a single, unified platform. This AI-based technology reduces implementation time to just four weeks and eliminates up to 90% of manual data entry errors.

With Cloud Connectors, clients can review and execute payments in a click, on one screen. Papaya standardizes and transforms workforce data (employee personal and bank details, salary, benefits, etc.) into pay-out-ready files. This transforms payroll data into payment execution through dedicated rails, powered by J.P. Morgan's infrastructure.
Papaya 360 Support: Offers direct access to local payroll experts through the platform, complemented by a real-time support monitoring system and collaboration, visible SLA and open items and an employee self-service app. Papaya's vast knowledge base is now easily accessible via AI-powered engine, which effectively acts as a payroll and payments expert, ready and able to answer any question.

These innovations offer solutions to critical pain points for global enterprises:

Connect the full cycle of payroll – from data mapping to payments execution
Reduce global payroll processing time by up to 80%.
Cut operational costs by up to 25%.
Ensure 100% compliance across all global operations.
Improve employee satisfaction scores related to payroll by 40%.
Unified all your workforce (employees/ contractors/ EOR/ IC's)
Enable rapid scaling of global workforce, entering new markets in weeks instead of months.

For more information about these innovations, visit our website.

About Papaya Global:
In an ever-expanding world economy, Papaya Global is the ultimate 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 Global's payment services are offered through Azimo, Papaya's licensed payments arm. Azimo is a globally licensed payment services provider. For further information on Azimo's licenses worldwide, check out licensing page.

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's team is nearly 1000 strong, serving customers like E-Toro, SentinelOne, SodaStream and others, in 160+ countries worldwide.

SOURCE Papaya Global