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Papaya Global - Payroll Services 2021
Vendor Analysis
published on Jan 11, 2021
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Report Overview:
This NelsonHall 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 its offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of managed 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 HR and payroll technology and services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Papaya Global’s payroll services offering, 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 locations.
Key Findings & Highlights:
Papaya Global, founded in 2016, and headquartered in New York, NY, is a provider of global workforce management technology and services.
The firm initially began offering global employer of record (EOR) services, and in 2018 expanded its offering to include managed global payroll services through its proprietary platform, which it provides in support of >140 countries today. In 2019, it further expanded its services, adding independent contractor management support to its offering.
In 2020, the firm announced it had acquired Israeli based HRIS technology provider Mench, Inc., adding its comprehensive human capital management platform to complement and further enable Papaya's services offering. Further, Papaya Global became a Workday Ventures portfolio partner, joining a select group of emerging, technology-enabled firms that receive Workday investment to advance and accelerate innovation for integrated solutions that extend Workday's value.
Today Papaya Global supports ~$1.7b in payroll managed through its service offerings, which includes:
- Managed payroll services
- Global Employer of Record services
- Contractor Management and IC Compliance.
Papaya Global positions itself as a global provider of SaaS-based payroll and EoR solutions. It targets its services to growing multinational corporations of all sizes, seeking support for populations of employees and operations globally. Its current client base is predominately derived from North American and EMEA headquartered firms.