Stoke Talent, a leading freelance management system, is releasing a new Accelerated Payment tool. This new capability enables companies to pay their freelancers, consultants, and contract workers within 24 hours in their preferred currency and payment method.
The biggest issue freelancers experience when working with companies is how they are paid – whether that is getting paid late, or not being able to receive payment in their native currency, or preferred payment method. Due to the challenges with payment, many freelancers have moved online platforms to manage their working relationships, which can cost an individual more than 10% of their revenue. The difficulties of being paid have been a constant pain point, which has caused distrust from the freelancer perspective, but now Stoke Talent is solving that issue.
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“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,” says Shahar Erez, Co-founder & CEO of Stoke Talent. “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.”
The new Accelerated Payment tool gives companies the ability to implement faster payment options, allowing freelancers to be paid on time and in the currency of their choosing. With this tool, and the rest of its platform capabilities, Stoke Talent not only helps companies make freelancers’ experience as positive as possible, but also makes the process easier, with minimal lift for a company, setting up the relationship for long-term success.
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A recent research report on freelancers payments found that “More and more freelancers want to be paid in their local currencies and they also expect these payments to be finalized swiftly. This represents an opportunity for businesses looking to expand their working relationships with freelancers or contractors, but must first enhance the payment mechanisms they are using to deliver funds to these workers.”
“The future of work is freelance, and our new tools give organizations the tools they need to foster strong relationships and build a strong freelance network. This is not only critical for companies who already have freelancers and contractors, but also for those that are beginning to bring these employees into their workforces,” adds Erez.
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