5 Pain Points Solved by Remote Payment Platforms

Matija Ratkovic

August 3, 2023

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More and more companies these days are hiring remote workers across the globe, which means that managing payments can quickly become a headache. Fortunately, remote payment platforms can make the process easy and painless. Here are the top five common pain points that many companies face when managing payments for their remote workforce, and how a remote payment platform can help.

1. Currency Conversions and Exchange Rates

When you're paying contractors in different countries, currency conversions and exchange rates can be a major headache. To make matters worse, exchange rates can fluctuate wildly, making it difficult to know exactly how much you're paying your employees. With a good remote payment platform, you don't need to worry about these details. The platform takes care of everything for you, ensuring that your global contractors receive accurate payments without any hassle.

2. Complex International Payment Processes

Dealing with international payment processes can be time-consuming and confusing. Different countries have different payment systems, and the process can vary significantly from one country to another. A remote payment platform simplifies the process, making it easy to pay your remote hires effortlessly and without any confusion. Regardless of where your employees are located, you can use the platform to make payments quickly and easily.

3. Delays and Inefficiencies

When you're running a business, delays and inefficiencies can be costly. Delayed payments can lead to unhappy employees, and they can also damage your reputation as an employer. A remote payment platform streamlines payment transactions, ensuring that payments are processed quickly and efficiently, so you can stay focused on growing your business. With the right platform, you can make payments instantly, without having to worry about delays or inefficiencies.

4. Security Risks and Fraud

Making international payments can be risky, especially when it comes to security and fraud. Fraudsters are always looking for ways to steal money, and international payments can be a prime target. A remote payment platform prioritizes safety and offers robust security measures to protect your financial transactions. With the right platform, you can rest assured that your payments are secure and that your financial information is protected.

5. Administrative Burden

Managing payments for a remote workforce can be an administrative burden, taking time and energy away from running your business. Many companies find that they spend a significant amount of time managing payments, which can be a distraction from other important tasks. With a remote payment platform, you can automate many of the payment processes, freeing up your time to focus on other important areas of your business. Let the platform handle the logistics, freeing you up to focus on driving your business forward.

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Overall, a remote payment platform can solve many of the pain points that companies face when managing payments for their global contractors. Whether you're struggling with currency conversions, complex payment processes, delays, security risks, or administrative burdens, a good remote payment platform can put your mind at ease and make the payment process easy and painless. So if you're looking for a way to simplify your payment processes and improve your efficiency as a company, consider using a remote payment platform today.

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Why is ESG data expensive?

The costs of collecting, analyzing and storing data are not cheap. And unlike financial data, there is no standardized process for determining ESG scores.The complexity of ESG data and the lack of standardization in the process for assessing environmental, social and governance factors also makes it difficult to compare companies on these metrics. Regulators are trying to make ESG information more transparent by mandating that companies disclose them alongside their financials, but this is still materializing globally. Traditional providers such as MSCI or Refinitiv employ armies of analysts to get this data from corporate disclosures (if it exists) and then normalize that data and provide it back to you. This is a very expenive process, with lots of quality control, and importantly - because this data is not disclosed very frequently (companies typically disclose ESG related data annually), there is less incentive to have a continuous subscription to a ESG data feed, along with risk of information leakage. All of this results in very expensive, and limited annual contracts.

Artificial Intelligence is changing the way we create and consume ESG data, which address many of the issues above - but that is a topic for another day.

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Why is ESG data expensive? 6

The costs of collecting
The costs of collecting
The costs of collecting ation in the process for assessing environmental, social and governance factors also makes it difficult to compare companies on these metrics. Regulators are trying to make ESG information more transparen
The costs of collecting

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The costs of collecting
The costs of collecting
The costs of collecting
The costs of collecting ation in the process for assessing environmental, social and governance factors also makes it difficult to compare companies on these metrics. Regulators are trying to make ESG information more transparen
The costs of collecting

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