Vendor Analysis
published on Aug 19, 2024
Report Overview:
This NelsonHall vendor assessment analyzes Papaya Global's offerings and capabilities in Payroll Services
Who is this Report for:
NelsonHall’s Payroll Services profile on Papaya Global is a comprehensive assessment of Papaya Global’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Payroll Services and identifying vendor suitability for security services RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the Payroll Services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Papaya Global’s Payroll Services offerings and capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery centers.
Key Findings & Highlights:
Papaya Global (Papaya), headquartered in New York, NY, provides fintech and workforce management solutions across 160 countries. Papaya Global's core offerings (with an estimated share of revenue) include:
- Payroll services across (~57%)
- Global Employer of Record (~40%)
- Contractor Management and IC Compliance services, typically bundled with one of the above (~3%).
Both services include payments supporting money transfer, remittance, mobile, currency exchange, and fintech services.
The company was established in 2016 and began offering global employer of record (EOR) services, adding its first clients in 2017. In 2018, it began offering managed global payroll services through its proprietary aggregator platform, which it provides in support of ~160 countries.