goLance Management and Payment Platform

Company: goLance, Dover, DE
Entry Submitted By: Thought Leadership Success, LLC
Company Description: goLance provides innovative software that empowers entrepreneurs to recruit, screen, manage, optimize, and pay global online freelance talent efficiently and cost effectively. It also enables freelancers to pay and manage subcontractors when they need additional talent for assignments. The goLance platform has more than 380,000 users.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Business Technology - Other

Nomination Title: goLance Management and Payment Platform

Many small businesses rely heavily upon remote, global online freelance talent. Freelancers help these companies to reduce costs, provide service 24x7, and scale up and down as needed. Yet, businesses face the challenge of having to easily monitor and manage a remote global workforce. They need to find the most flexible and effective ways to pay them. These businesses must simplify the payment process, while complying with financial regulations worldwide.

Companies that can offer secure, accurate, compliant, fast, cost-effective, and transparent ways to pay their freelancers make it easier to attract the right talent for services. This can include using freelancers for sales and marketing, project management, customer service, software development, web design, IT administration, and other functions.

Freelancers want to choose how they should be paid and receive funds in a timely manner. This could be via a bank account, debit or credit card, payment advance, digital transfer, and other options. It might involve working with different currencies or multiple payment vendors. Having flexible payment options is particularly important when you’re hiring international workers, because some countries may only process certain types of payments.

Companies also need a platform that provides the visibility required for monitoring, managing, reporting and optimizing the work of remote freelance workers. Plus, some freelancers may bring in some experts to help them complete assignments. They need a convenient way to pay subcontractors without having to deal with complex payroll issues. For example, a freelance project manager might use the services of a writer and web designer.

goLance uniquely addresses all of these needs for businesses. goLance provides a complete online workforce platform that utilizes powerful software solutions, integrations, and best practices to make the entire recruitment, management, reporting, and services payment process easy for freelancers and the companies that use them. If a freelancer brings in additional talent for an assignment, those people are also are paid by goLance. Here’s how it works:

Management/Monitoring Capabilities Integrated with Payments
When a company hires goLance freelancers, it’s easy to monitor the workers from any location.

-Freelancers use the goMeter app and Work Diary, which record their activity, track the time spent on an assignment, and communicate the project’s status.

-Businesses use the goMeter to gain visibility into freelancers’ projects to track their time and see what they are working on, by reviewing periodic screen shots and messaging. According to Derek VanHoose, CEO, Set Financial, “The available screen reporting capability makes it easier and much less expensive to manage remote workers than it is to track the work of people sitting in our office.”

The goMeter is integrated with payment applications from a variety of suppliers. This integration enables workers to receive timely electronic payments into their accounts based on the freelancer’s payment preferences.

Flexible Payment Options and Structure

Business that use global freelancers may require a variety of electronic payment options. goLance makes this possible with low-cost exchange rates and pricing from numerous suppliers.

As a result of these integrations, the goLance platform is leveraged to help automate the entire payment process. This includes providing money transfers and digital payments services, and offering services quickly and securely. goLance users can access real-time exchange rates and have fast, secure, convenient and lower-cost international transfers.

goLance incorporates a variable review period that allows businesses to release automated payments to freelancers rapidly. They can even be paid instantly in certain situations. Companies are billed throughout the week for the freelancer’s time, which is tracked on the goLance platform to ensure that payments to freelancers are protected.

The bottom line: The goLance platform makes it easy to manage and pay global freelance staff efficiently, flexibly, and cost-effectively. These capabilities help enable businesses to scale and gain a competitive edge.

In bullet-list form, briefly summarize up to ten (10) of the chief features and benefits of the nominated product or service (up to 150 words):

1. Integrated two new bank providers to offer more payment options.
2. Lowered fees for freelancers from 10% to 7.95%, which is considered a low rate for the industry. Also lowered Payday Advance fees, which are available to freelancers who want instant payment.
3. Implemented virtual card support that allows users to directly access their available earnings.
4. Expanded deposits and withdrawals.
5. Implemented a Certificate of Earnings for freelancers to improve their tax calculations.
6. Implemented main app features in the mobile app, including hiring, messaging, contracts, work diary, reporting, and goWallet.
7. Implemented calls and meetings both in web and mobile apps.
8. Improved fraud prevention and ID verification.
9. Integrated goMeter with project management systems of other suppliers and continuously update goMeter to support all of the new operating systems.