Why We Chose the Preferred Partner Model – To Give You the Best
Alex Margolin| Jun 29, 2023
Papaya’s preferred partners are board-certified accountants at the most respected CPA firms in each location. You won’t find that level of quality and reliability with payroll companies that open their own entities.
- The preferred partner model is designed to ensure quick and accurate responses to the toughest payroll questions.
- The Papaya solution is cost-effective because our global model and open competition allows us to negotiate the widest scope of services for the lowest price.
- If you don’t have certified experts with years of local experience handling your payroll, your compliance may be at risk.
Global payroll is hard and compliance across numerous countries is even harder. No one can know all the tax codes and regulations in numerous countries. You need a seasoned expert to guide your payroll process in a foreign market.
Today, many payroll providers are choosing to open their own entities in many countries rather than working with established experts in those regions. At Papaya, we consider this a mistake: their service can never compete with the top CPAs in each country.
Opening entities is easy – all it takes is time and money. What’s hard is ensuring your compliance in every location. And to do that, you need access to the best in every country.
Instead of opening entities, we chose to build partnerships with the most respected accounting firms in the country. Accountants that are board-certified, with years or even decades of local experience at the most established local firms – those are the people you want in charge of your payroll.
But wouldn’t that cost more money? That’s often the first question we get when we explain that your payroll calculations are handled by the most sought-after experts in the industry. Surprisingly, the answer is no. Our global model and open competition allows us to negotiate the widest scope of services for the lowest price.
The Advantages of Working with Certified Experts
Companies that open their own entities can’t guarantee that your payroll will be processed by board-certified accountants. Many entities are merely shell companies that outsource the work to save money – and cost you more in the long run because they can’t handle real complexity, or the advanced planning required when it comes to issues like terminations.
Here are some of the advantages you get with our Preferred In-Country Partner model that you won’t get with companies that open their own entities.
Vetted for highest standards
Papaya is extremely selective about its in-country partners, applying a total of 60 criteria when evaluating the fit for a partnership. It looks at the full scope of its services, invoicing, incident reports, contingency planning. We also pay close attention to how the company handles responses from our clients and how plans to deliver quick answers to questions.
After we choose a preferred ICP, we continue to evaluate the relationship to make sure our clients receive ongoing service at the highest level. We hold formal evaluations twice a year and weekly meetings to keep operations on track.
Designed for quick response
We designed the partner model to provide the best service possible for each client, including fast response time for clients.
But most questions our clients have can be answered immediately. We keep careful records of questions and responses that recur in every region we cover. Those questions often comprise as much as 80% of the questions we receive.
With the remaining 20%, which require the special expertise of our experienced partners, you can expect an acknowledgement within 4 hours and a response or resolution within 24-48 hours.
Experience, experience, experience – and local know-how
All our partners are board-certified accountants at the most prestigious accounting firms. They have extensive experience in the local market, often decades of experience. They specialize in the local market and know all the intricacies involved.
Each preferred partner firm has full capacity to run your entire business – with onboarding, legal, finance, and payroll capabilities. They have unlimited capacity for growth, supporting one payslip or 10,000 in any region.
With the fully-owned entity model, you have no option but to work with their entity in each location. With Papaya’s model, you can choose to work with our preferred experts or stay with your own partner. Even if you choose to work with ours, you can switch if you’re not fully satisfied, or add a second partner if your payroll requires particular specialization.
The owned-entity model is also rife with comflict of interest. If you have a dispute with their entity, whose side will your payroll provider take? Naturally, they will look out for their interests. In contrast, Papaya can advocate for you in disputes with no conflict of interest.
Learn More About Papaya’s Preferred Partner Model
If your payroll partners aren’t certified experts in every region, your compliance is at risk.
Schedule a demo today to find out more about Papaya’s preferred in-country partner model and how it makes compliance concerns disappear.