Centralize Your Vendor & Freelancer Management

Modern businesses need the ability to scale up or down with expert or specialist skills. Contractors offer on-demand support without the inflexibility of full-time contracts.

However, mismanaging contract workers can put workers at risk and expose the organization to compliance, commercial and legal risk. If you don’t have the right system in place you might start missing deadlines and budgets could get out of hand. Worse, KYC documents might not be stored securely and client data could be lost or compromised.

The right contractor management solution mitigates these risks and reduces unnecessary admin and stress.

The first job is to set expectations for both employer and supplier. These obligations should be clearly set out in a legal agreement, reducing the likelihood of future disputes. 

At the very least, these terms should set out when and where the work will be done, and how and when payments will be made. The agreement should also set out who is responsible for ensuring compliance around contracts and other legal paperwork. A good solution is to use an Agent of Record (AOR) like TalentDesk.io, to handle all of this on your behalf.

Having all this in place will simplify processes like multi-currency payments and contractor onboarding. It will also help build good, long-lasting working relationships between both parties.

In the past, contractors were managed using paper-based records, then spreadsheets. As the number of contractors on the books rose – and they became distributed across multiple time zones – these spreadsheets became time-consuming to manage and prone to errors.

 A good contractor management system lets you automate global payments, helps customize your onboarding processes to save time and allows you to manage deadlines, expenses and budgets at-a-glance.