Papaya Global, the SaaS fintech company providing global payroll and payments technology, has been named to Fast Company's prestigious annual list of the World's Most Innovative Companies for 2023.

This year's list highlights businesses at the forefront of their respective industries, paving the way for the innovations of tomorrow. These companies are setting the standard with some of the greatest accomplishments of the modern world. In addition to the World's 50 Most Innovative Companies, 540 organizations are recognized across 54 sectors and regions.

"Innovation is in our DNA at Papaya. We have entirely upended how global enterprise companies think about payroll. We are the first payroll payments company in the industry to help its clients navigate the needs of the local employee and the global employer. So to be named on Fast Company's impressive list is both humbling and motivating," said Eynat Guez, co-founder and CEO of Papaya Global. "We are inspired to continue creating and changing our industry to make it easier for global companies to support their workforces, despite increasingly complex local hurdles. Our team is dedicated to providing solutions that empower global companies and their employees to thrive, and we're honored to be recognized for that."

Payroll is the biggest expense, liability and commitment that a company has. As remote work and global teams are now here to stay in the new global workforce technology ecosystem, the last few years have seen significant investment in tech to make the complexity of managing global payroll and payments more simple and efficient. Ultimately, however, it seemed that many companies merely piled tech onto their existing systems in an attempt to contend with the new workforce reality.

Papaya Global launched an automated, end-to-end and flexible platform that takes on all that complexity without cobbling together multiple tools and vendors. Papaya is the only company in the industry that has the technology, compliance, infrastructure and partnerships to change how companies deliver global payroll and payments. With this innovative platform, Papaya gave global clients a tool that adapts to their needs rather than the other way around.

In the past year, Papaya acquired Azimo to provide the capability of licensed and regulated cross-border payments in over 160 countries and partnered with JPMorgan, Citibank and others to provide the "banking rails" for a cross-border payments solution within 72 hours. Papaya also partnered with Netsuite, Workday and other enterprise mainstays to bring seamless integration and automation to its clients and enhance their productivity and profitability with more automated services.

The World's Most Innovative Companies is Fast Company's signature franchise and one of its most highly anticipated editorial efforts of the year. It provides a firsthand look at the inspiring and innovative efforts of companies across all sectors.