When it comes to freelancing, there is absolutely no doubt that time and efficiency are some of the most sought-after elements in the domain – time is money. Freelancers want to get paid quickly for their work while hiring companies need time to initiate billings due to the associated administrative burdens that come with the invoicing process.
In the traditional freelance hiring methodology, this leaves a pretty significant time gap between both parties’ timeframes. Don’t even get us started on how intermediaries stretch out the process. That’s a different subject for another article.
Now, let’s take a second to think about this. An ideal, intermediary-free world where freelancers can choose their own payment terms and clients could take their time to pay seems a bit out of reach, doesn’t it? Well, now that hireme’s pay advancement services have arrived on the scene, it really isn’t.
Thanks to hireme’s pay advancement services, freelancers can now get paid on their chosen terms – regardless of the initially agreed upon payment terms. Whether freelancers choose traditional payment, expedited payment, or immediate payment – getting paid with absolute freedom has never been easier.
Given the hiring company is factorable, freelancers can request the pay advancement of their bill to receive their invoice payment without waiting the typical payment processing period for but a modest fee.
Freelancers can choose from:
- Immediate Pre-Payment: Payment is guaranteed within 0 and 2 days (depending on holidays and weekends) for a 2% upcharge of the billable amount.
- Expedited Pre-Payment: Payment is guaranteed in under 15-Days (depending on holidays and weekends) for a 1% upcharge of the billable amount.
- No Pre-Payment/Initially Agreed Upon Payment Term: Payment is received in under 30-Days at no cost.
Our pre-payment system starts by verifying whether or not the hiring client is factorable through our thorough background checking process. Within the context of hireme, factorability simply means that a company can legally be billed within the jurisdiction of the country that it is operating out of.
Once factorability is verified and a form of Pre-Payment is selected by the freelancer, client invoices are then transferred to our partnering bank and then payment is initiated (via the bank – for a premium) in accordance with the payment term selected by the freelancer prior to the client initiating payment.
The client then has time to initiate their payment to hireme based on the initially agreed upon terms. Once payment is received by hireme, the entire billable amount of the invoice is re-payed by hireme to our partnering bank. As soon as the process is completed, the invoice is marked as “Payed”.
Our pay-advancement services are not only beneficial to freelancers, but they are extremely useful to clients as well. Knowing that hired freelancers have the ability to control their own payment processing time (via pre-payment selection) drastically reduces the time-burden that comes with invoicing along with freelancer pressure for prompt payment.
Clients are free to take the time they need to pay their invoices so long as they pay within the agreed upon term. Just another perk of being a part of the hireme community.
Time is money – and now with hireme’s pre-payment services on the scene, time is merely a formality for both freelancers and clients.
Curious to see what all the hype is about? Hurry and join today to become a part of the platform that is singlehandedly redefining freelancing.