Paying freelancers abroad

Outsourcing some of your business’s operations is a common practice in today’s global economy and found across all company sizes. Paying your freelancers for their services can be done much smarter.

Today’s modern global village enables employers to outsource assignments and tasks to independent highly-skilled workers who are not real employees, but self-employed individuals, usually called “freelancers”. This economic development has been greatly accelerated in the age of web development, programming, coding, QA and especially in the entertainment sector, such as music and films.

 

The most common freelancers are usually:

  • Web Designers
  • Web Developers
  • Computer Programmers
  • Writers
  • Technicians
  • Architects
  • Designers
  • Performers
  • Producers
  • Illustrators
  • Editors
  • Translators
  • Quality Assurance Specialists
  • Reporters / Journalists

Every year, more and more work is being done by ad-hoc professionals living abroad and working from their homes, while more companies are switching to outside overseas contractors to save on labour costs. At the same time, the importance of quick and reliable digital payment has grown significantly. Every freelancer wants to be paid exactly on time, according to his contract or any other kind of written agreement, which is often completed by email. Freelancers value their independence and flexible working hours, but dislike fee delays or excuses like “Your check is in the mail, I don’t know what happened to it”. That is why the digital banking system offers real-time remittance and same-day completion of money wires.

When working with international freelancers on a weekly basis, it’s crucial to catch up with cutting-edge technology and innovation in order to maintain a super-efficient payment system, making every one of your freelancers as happy and productive as possible. Timely remittance of agreed fees to every successful freelancer can be achieved by Fin-tech services such as Covercy, offering low wire fees and excellent exchange rates on international wire transfers.

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In our day and age, paying freelancers via overseas wire transfers has become the mainstream path. However, using your old local bank for the job can lead to high wire fees and high foreign exchange rates, when exchanging currencies. Moreover, in the Hi-tech sector, for example, programmers need to deliver their code on tight schedules, sometimes as quickly as tomorrow morning. When project managers require their freelance programmer to write code that swiftly, they need to prove that their payment ability is up to speed with the assignment’s close deadline.

Since freelancers across the planet find themselves being asked to perform complex tasks and send perfectly executed projects to their temporary bosses overseas, they expect their fees to be wired to their bank account on the same business day. Fast payment is a clear testament to the seriousness and goodwill of any company doing business globally today. By using Covercy, every corporation dealing with freelancers can cut costs on every single wire transfer, making the hiring of any freelancer even more profitable and appealing.