How Papaya Global Reduced Manual Tasks on Bank Reconciliation by 90% with Ledge: Case Study

Ledge Team
December 11, 2023
Case Study

Company name

Papaya Global

About the company

Papaya Global is the ultimate payroll solution that gets workforces paid worldwide. Its technology powers cross-border payments and enables organizations to hire globally and pay locally, while effortlessly managing workforce complexities. Papaya has recently been named as TIME100’s Most Influential Companies, as SuiteCloud International Partner of the Year, and as a Leader in NelsonHall’s NEAT Matrix. Recent recognitions include CNBC’s Best Startups for the Enterprise. Papaya Global’s team is 800 strong and serves customers like E-Toro, SentinelOne, Soda Stream, Microsoft, Contentsquare and others, in 160 countries worldwide.

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See Ledge in action
90% reduction in time
spent on bank reconciliation
24/7 continuous close
reduced from 1-3 days
Improved customer experience
by real-time cash application & reduced errors
"Time is money. Ledge saves us both. We can now reconcile instantly, freeing our team for higher-value tasks." – Liran Daudi, Director of Finance at Papaya Global

The challenge: Manual bank reconciliation in a fast-paced, high-volume, uncompromising global environment

As a global workforce payments powerhouse, Papaya Global’s AR team issues a high volume of invoices and receives a high volume of payments into its bank accounts every day. Given the sensitive nature of its core business as a payroll provider, it’s critical that these payments are reconciled daily.

Until now, Papaya Global has allocated two full-time finance team members to perform manual bank reconciliation every day. Because the company operates in 160+ countries, the team manages multiple bank accounts, entities, and currencies, adding layers of operational complexity to the work.

A particularly acute pain point for the team was the crunch they experienced at the beginning of every week, tackling a backlog of unreconciled payments that had accumulated over the weekend.

In addition to being time-consuming and tedious, this accumulation of unreconciled payments clouded the visibility of overdue payments, impacted the accuracy of aging reports, and led to customer support tickets about payments that customers made days earlier and were still marked as outstanding in the Papaya UI.

That’s why Liran Daudi, Papaya’s Director of Finance, felt a pressing need to automate bank reconciliation processes – not just for the sake of efficiency, but also for accuracy, scalability, and strong client relationships.

“As we scaled, we said, OK, it’s time to automate things. We cannot keep doing things manually. We started with AR because it’s the most urgent thing to take care of – we’ve already seen a much higher volume of invoices, and in the future, it will only get higher.”

Solution: Ledge’s end-to-end automated bank reconciliation

End-to-end automation, from payment settlement to ERP journal entry

Ledge integrates directly with Papaya Global’s ERP and banks, automating transaction-level reconciliation and reporting.

Ledge instantly matches settled customer payments to the corresponding invoices, including partial payments or payments that cover multiple invoices. It’s an end-to-end automation of the entire bank reconciliation process, all the way to recording journal entries in the ERP.

Automatic reconciliation of payments in multiple currencies, and multiple accounts

By consolidating bank and payment data into Ledge’s unified system, the Papaya Global team no longer needs to manually manage invoice and bank data scattered across different international entities.

Fast time-to-value – automated reconciliation within weeks

Most finance tools require a lengthy implementation process and long ramp-up times. However, from the moment that Papaya Global signed on with Ledge, it took just a few weeks until they integrated automated reconciliation into its processes. 

Improved customer experience

Automating the reconciliation of partial or full payments or payments of multiple invoices makes for a more efficient process. It also eliminates the need to reach out to customers to get information about the invoice breakdown, leading to an improved customer experience.

More time for higher-value, strategic work

With much of the routine bank reconciliation now automated, Papaya Global can allocate its team’s time towards higher-value, more strategic work that best serves the company’s goals.

Zero engineering and R&D resources required

Because Ledge connects directly to banks, PSPs, ERPs, and more, the roll-out did not require any of Papaya Global’s R&D resources or any system implementers to quickly get up and running.

"With Ledge, we can scale reconciliation without scaling headcount. We were able to go live quickly without R&D or costly implementers and saw very fast time to value - something almost all CFOs are looking for these days." – Benny Vazana, Senior Vice President of Finance at Papaya Global


  • Over 90% reduction in time and resources spent on bank reconciliation
  • Results within just a few weeks
  • Real-time, 24/7 continuous close, reduced from 1-3 days
  • Dramatically reduced risk of manual errors
  • Improved reconciliation accuracy
  • No more frantic backlogs after weekends and holidays
  • Improved relationships with clients
  • Freed time and resources to devote to higher value tasks
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