Papaya Global and Worksome have teamed up to streamline the management and compensation of contingent workers for enterprises.
Their collaboration has resulted in an integrated platform that merges Papaya’s global payments infrastructure with Worksome’s contractor management interface.
Unified Solution for Global Freelance Management
This joint solution allows businesses to onboard, classify, and pay freelancers across more than 160 countries using local currencies while ensuring compliance with local regulations. It offers features like agent-of-record (AOR) and employer-of-record (EOR) capabilities, real-time payments, and in-product worker classification tools through a unified interface.
Responding to the Rise of Contingent Workforce
With freelancers, contractors, and gig workers now making up about 40% of the global workforce, and this share expected to reach over 50% by 2050, many organizations are still utilizing fragmented systems or manual processes for managing these segments. Papaya and Worksome assert that their new solution is tailored to simplify operations for large enterprises relying on flexible staffing models.
Papaya Global officials view contingent workforce management as one of the more challenging issues faced by large employers. They believe this partnership will help companies manage these complexities, particularly in areas such as onboarding, compliance, and cross-border payments.
Worksome describes its platform as a modern alternative to traditional contractor management systems. The company claims that partnering with Papaya will allow clients to operate more efficiently while minimizing delays and regulatory risks.
Key Features of the New Platform
The new platform is designed as a purpose-built Freelance Management System (FMS) to meet enterprise needs for managing independent talent. It includes automated onboarding, built-in compliance mechanisms, and localised payments with an emphasis on visibility and process integration.
Worksome operates in Copenhagen, London, and New York and works with over 350 clients. Papaya Global, through its licensed payment services arm Azimo, facilitates workforce payments across multiple jurisdictions and has secured regulatory approvals in five Tier-1 markets.
