Getting paid for work, or – better still – getting paid on time, can be the bane of freelancers’ life. A tool therefore that promises to streamline the payment process for freelancers is likely to be greeted with open arms.
In walks Accelerated Payment, a new tool by Stoke Talent, a leading freelance management system. The tool enables businesses to pay freelancers, consultants, and contract workers within 24 hours. Not only are freelancers paid within a day, but the system makes payments via preferred payment methods and in the freelancer’s chosen currency.
Managing Freelancer Expenses with Accelerated Payment
One of the biggest issues facing the freelance community and the businesses that take on freelancers, is getting paid. Payments for freelance, contracted work can be notoriously late. Getting paid in the right currency can also be challenging, as can being paid via a preferred payment method.
In light of the challenges, it is not uncommon for freelancers to use online platforms for invoicing and managing relationships with clients.
Retaining Top Freelance Talent
Businesses that make late payments resulting in freelancers having to keep chasing for payments, run the risk of losing quality freelancers. With professional freelancers going elsewhere for work, businesses can miss out on retaining top freelance talent, all because of inefficient payments. For small businesses, losing freelancers with specialist skillsets can be extremely detrimental to business operations and ultimately profitability.
By utilizing Stoke Talent’s Accelerated Payment platform, both freelancers and the businesses that use their services can benefit from a more streamlined payment approach.
Shahar Erez, Co-founder & CEO of Stoke Talent, commented on the need for advanced payment tools designed specifically for the freelance community.
“The freelance economy is booming, and it is becoming increasingly competitive for companies to work with specialized freelancers with strong expertise in areas like AI, UI/UX design, and digital marketing, among other areas.
“Around 70% of freelancers are younger than 35 – a generation that is accustomed to a digital-first world and expects real-time payments. They don’t want to wait 42 days for a wire transfer, and frankly, they shouldn’t have to. Stoke Talent’s Accelerated Payments tool eliminates that pain point and makes the process easy for both companies and freelancers,” Erez added.
Making Payments in the Right Currency
With the Accelerated Payments tool, businesses can not only make payments faster, but they can make them in any currency. Research shows that a growing number of freelancers are wanting to be paid in their local currency. The Accelerated Payments system ensures payments are made on time and in the currency of a freelancer’s choice.
With more people working from home than ever before, the pandemic has increased demand for the specialist services of professional freelancers. Subsequently, the challenges involved in hiring freelance staff has also proliferated. As this new working culture looks set to stay for the long-term, it’s vital both businesses and freelancers have the right tools to foster strong relationship.
By making payments quicker and more efficient, Stoke Talent’s new payment tools looks set to nurture a healthy and simplified working solution for the burgeoning freelancer community.
This article, “New Tool Allows Freelancers to Get Paid Quicker and in Native Currency” was first published on Small Business Trends