If you’re working with freelancers, even just a few, then chances are you have found yourself needing to pay and process freelancer expenses. Whether these are one-off payments for events or supplies or reoccurring expenses that happen say every week or every month, trying to process them in-house can be frustrating.
It isn’t as straightforward as running payroll or issuing payments for W2 employees. That usually happens on a set cycle and with set payment amounts. Freelancer payments and expenses are quite different. You need a much more flexible way to get these payments into the hands of your freelancers. Unfortunately, most companies have a bad track record when it comes to paying freelancers. 71% of freelancers have dealt with clients paying them late or not at all and 84% of freelancers would work more often if they were paid faster.
While freelancer payment issues existed long before the pandemic, the recent surge in flexible, remote work has highlighted this pain point for businesses. As more companies turn to freelancers to fill in the gaps, they need to figure out a way to streamline the payment process for all projects and expenses.
How is expense management different for freelancers?
You may be familiar with companies like Brex or Divvy that can be used to manage expenses for your corporate employees. These companies are mostly simple corporate cards and bank accounts that make sense if you are distributing them to full-time employees. Freelancer expenses need to be much more flexible.
What you need is software for freelancer expense control to help you quickly and efficiently distribute expenses across all of your freelancers. AllWork can help you take the guesswork out of freelancer expense payments while taking that work off your plate. Since we’re a full freelancer payments platform, we can help you pay both freelancer invoices and expenses all in one place.
Having one system of record for all of your freelancer expense management means you’ll have access to reporting across all of your freelancers. Whether they are hourly, consulting, contract, or project-based workers you can have visibility into all of their payments across all job functions, departments, and roles.
To learn more about how AllWork can help you correctly classify, onboard, manage, and pay your freelancers, reach out to info@allworknow.com or book a demo here!
