Fintech
Xolo launches global platform for managing teams of freelance contractors
Xolo, the company serving nearly 100,000 solopreneurs worldwide, has today launched a new service called Xolo Teams, allowing businesses to contract, manage and pay their freelance contractors quickly and easily.
The new service is available for European, US, and Canadian businesses to contract freelancers in Europe. Those companies can manage their freelance workforce by using Xolo’s web-based SaaS platform, contract framework, and payment methods.
“We are going through the most profound change in the nature of work in centuries. The shift from traditional employment towards independent work is now accelerating in the post-Covid, remote work era. We believe that the majority of knowledge professionals will be employed as independent businesses in a few years’ time,” Xolo CEO Allan Martinson said.
For example, a September 2020 McKinsey survey of 800 executives globally, found that over the next two years, 70% said they plan to increase their dependence on on-site freelance and contract workers.
“Companies need new toolkits to cope with this new situation. Instead of HR and payroll systems, they will need platforms to manage teams of independent contractors – whether sole traders or single-person companies,” continued Martinson.
Xolo’s new service offers businesses exactly that, by providing a simple and easy way to contract, manage and pay contractors regardless of their location within one platform. The new service is combined within its existing product that helps solopreneurs to manage their microbusinesses.
Xolo, with freelancer customers across 131 countries, is one of the leading SaaS services used by solopreneurs globally. The new service is now targeting the companies hiring them, offering a platform to manage everything from contracts to compliance to payments.
Davor Mismas, COO of Trash Gang and an early adopter of Xolo’s new service, said: “The biggest problem was how to connect freelancers and us in a way that is legally possible in the EU, with rates that are lightning years ahead of all similar service providers. In addition, working with more than 30 freelancers at the same time can lead to a lot of project management and bureaucracy, which has been greatly simplified, saving us a lot of valuable time.”
Martinson concludes: “Although several EOR (employer-of-record) companies offer contractor management, Xolo is unique as we have been running a freelancer-facing platform with a very high customer satisfaction rate for six years. Adding a service helping businesses to contract these Xolo freelancers is a natural development and win-win for the business and the freelancer.”
Xolo Teams is available from September 28. Xolo charges 5% of the total amount paid to the contractors as its fee. You can find more information on Xolo Teams here.