Papaya Global Completes the SOC 1 Type II Audit Report Reinforcing its Commitment to Protect Financial Data for its Clients and Internal Operations

TEL AVIV, Israel, March 2, 2022 /PRNewswire/ -- Papaya Global, the leading payroll and workforce management SaaS platform, announced today they successfully completed their SOC 1 Type II Audit Report. The audit was conducted by a third-party validation provider over multiple months to demonstrate the effectiveness of the Papaya Platform's internal financial controls. The audit affirmed that Papaya Global's payroll and workforce management platform operates with proper and effective controls in all areas that can impact the financial statements of its clients. 

Papaya Global is entrusted with payroll data for tens of thousands of employees and over 800 organizations around the globe. As such, building systems to ensure the safety and privacy of their client's sensitive data, along with implementing controls and safeguards on all its financial operations, is of utmost priority of the company. In addition to the newly obtained SOC 1 Type II report, Papaya Global sets the standard in their industry by also adhering to all standards set by GDPR, maintaining ISO27001 compliance, and holding the SOC 2 Type II report.

"Trust is the foundation of our company," says Eynat Guez, CEO and Co-Founder of Papaya Global. "We lead the market in delivering the most robust and innovative payroll platform while also providing our customers with unparalleled transparency. Completing the SOC 1 Type II audit verifies this commitment and enables us to deliver the solutions our clients need, while providing them with the confidence that their financial data is secure."

SOC is a set of guidelines generated by the American Institute of Certified Public Accountants (AICPA) and developed to ensure security, availability, confidentiality, and process integrity of financial organizations.  When Papaya Global received the final report, there were no comments or deviations to report, indicating that all audited systems were proven effective – a rare accomplishment for any company who undergoes the audit.

"Completing this examination was a rigorous and welcomed process," says Inbal Aviad, Chief Legal and Compliance Officer at Papaya Global. "This highly regarded reporting provides our clients peace of mind that their data is secure and that we maintain effective internal controls and safeguards, a true accomplishment."

About Papaya Global

Papaya Global offers a people, payroll, and payment management solution supporting all types of global employment (payroll, EoR, and contractors) in over 160 countries to remove barriers to global hiring, enhance collaboration and engagement, and provide a first-rate employment experience.

The automated, cloud-based SaaS platform provides an end-to-end solution, from onboarding to on-going management and cross-border payments. The platform is customizable to all business requirements, integrates with existing HRIS management tools, and uses intelligent technology to ensure compliance and eliminate errors. It gathers all employee information into one place, creating a highly visible system for tracking payroll spending and provides real-time business intelligence. The platform ensures GDPR and SOC compliance to maintain the highest standard of security.

Papaya's team currently spans Tel Aviv, New York, Austin, London, Kiev, Singapore, and Melbourne, Papaya's technology has been recognized by all leading global analysts, including Gartner, Visa, NelsonHall and others, as disruptive in the field of global people, payroll, and payments. Papaya Global was included in the Forbes Cloud 100, the definitive ranking of the top 100 private cloud companies in the world.

Learn more about Papaya Global and their security and privacy policies at Papayaglobal.com

SOURCE Papaya Global