The modern workforce is changing. Teams are more global and more distributed (these are not EXACTLY the same, when you think about it). Hiring categories used to be “full-time” or “part-time.” Now we use terms like gig worker, digital nomad, and Employer of Record.
Payroll complexity has grown but traditional payroll providers have not kept pace. They’re locked in an earlier era that doesn’t support the needs of modern companies.
Want to consolidate your global payroll? You’ll have to replace all your partners. That will take a year before you see results. Want a quick glimpse of your global workforce spending? Get your calculator. You’ll spend months adding things up by hand. You don’t get a global view with the legacy payroll companies.
Global payroll technology was broken. So we fixed it.
In recent weeks and months, we ran a campaign that focused on precisely that – on how Papaya is actually helping modern companies manage their people, payroll and payments, globally. No buzzwords, no bull$#*t. Just result. One part of that campaign spoke of how we can save companies 12% of their global payroll costs. And, in the name of transparency, we thought it might be a good idea to show how you how we got to this number, and how you can expect to achieve it, too.
We “could” tell all about how our technology supports the real needs of modern companies like yours and how it brings you unparalleled efficiency, stunning visibility, and total control, how we s can transition your part-time digital nomad into a full employee in just one payroll cycle…
But this article is really just about the numbers. We based the figures below on the typical costs of companies with 5,000 employees in 10 locations.
Integrating Data with Your HCM, HRIS, or ERP System
With Papaya
Papaya’s integrations come out of the box – a self-serve dashboard to seamlessly integrate HR and payroll data through pre-built APIs, file uploads, and custom API development (no coding skills needed). It can go live in 1-4 months at a low cost of $10K- $50K and no 3rd party integrators.
With Traditional Global Payroll Providers
All integrations take 12-24 months to complete with implementation fees ranging from $2K to $10K per country as well as recurring maintenance fees. They also require a 3rd party integrator at an additional charge.
You save: $350K
Selecting Your Own Partner
With Papaya
Keep your current local partners or work with Papaya’s network in 160+ countries. Either way, you can consolidate all the data into a single platform, gain visibility and control, and go live in one payroll cycle.
With Traditional Payroll Providers
You get no choice or flexibility: you must replace your current partners with the payroll provider’s network. The process can take 3-6 months to go live, with additional fees of $15-40K for transition.
You save: $200K
Payroll Cycle Costs
With Papaya
Payroll costs are fixed per payslip, with discounts available depending on volume.
Traditional Payroll Providers
Costs are variable, with additional fees for numerous unexpected hourly and out-of-scope services.
You save: $25K annually
Payslip Delivery Through Personal Portal
With Papaya
All payslips are delivered directly to each employee through a personal employee portal. Both are part of Papaya’s core service – at no additional fee. The portal also includes annual tax reporting, onboarding forms, and SSO configuration.
With Traditional Payroll Providers
Payslips are delivered as large PDF with extra charges for splitting payslips for each employee. A personal portal for employees is also available at an additional charge of $3-$5 per employee, per month
You save: $180K annually
BI & Analytics
With Papaya
Workforce analytics are a strategic tool that can help any company improve business functions. A full suite of analytics dashboards, powered by Tableau, is part of our platform at no extra cost. See all global payroll spending with one click – and find a goldmine of information for global workforce and finance planning.
With Traditional Payroll Providers
Analytics are not included. To view your payroll costs, you have to add special products to the service at heavy implementation costs.
You save: $70K annually
Customized Payroll Journal Entries
With Papaya
Included in core service and can be fully customized to ERP with customers’ accounting codes.
With Traditional Payroll Providers
Not Included in the core service. Customizations often require 3rd party integrators.
You save: $15K annually
Global Payment Capability
With Papaya
Core offering includes payroll payments to employees, social and tax authorities, and 3rd party benefits vendors in 160+ countries so you are always in full control.
With Traditional Payroll Providers
Payments are not included so you will either have to process payments yourself manually or grant tokens to a local partner at extra cost – a solution with more risk and limited control.
You save: $30K annually on average
Center of Excellence, Knowledge Base, and Legal Team
With Papaya
Our core offering includes access to in-house experts on global employment, taxes, benefits, and labor laws, and a knowledge base on hiring in 160 countries – all with no additional charges.
With Traditional Payroll Providers
No support is included in core service. Access to experts available at an additional cost.
You save: $20K annually
Global Medical Benefits
With Papaya
Medical coverage is available as a benefit to employees on a customized global policy through Papaya’s Global Benefits Service. The service includes support and guidance for benefits in 160+ countries. Papaya leverages the buying power of tens of thousands of employees to keep rates low.
With Traditional Payroll Providers
No medical coverage is included. Customers have to handle benefits themselves, without any guidance or support from their payroll provider.
You Save: $60K annually
Your Choice for Global People, Payroll, and Payments
Find out how you can boost your productivity and and performance – while saving time and money on your global payroll.
Schedule a demo today.
