How to pay contractors with Lano

Collaborating with freelancers is a great way for companies to scale up their business and improve their turn around for projects and launches. But it also comes with a few challenges. Not only do you have to invest time to manage and organise your global team, you also need to be aware of potential compliance issues as well as payment challenges if your contractor is not based in your home market. 

Fortunately, Lano’s contractor management solution supports businesses in facing these challenges and makes sure you come out on the other side. Here’s how it works.

Working from home or with a fully remote team has many benefits. You can quickly react to changes in the market and scale up your workforce whenever need be. On top of that, you are able to use your global talent’s specific local knowledge and experience working in a certain market to your advantage and even use things like time differences to get a head start on some important work.

However, all good things come with some challenges. Hiring a remote freelancer often means you will have to deal with currency exchange, international bank transfers, and potentially expensive rates associated with sending money from one country to another.

Furthermore, if you have a whole team of freelancers, it can quickly become a fulltime job to manage not only their projects and work, but also their payment and making sure they are being paid accurately and on time.

To help you manage these challenges, Lano has come up with a unique payment solution.

Our mission is to simplify global payroll and enable companies around the world to collaborate with the best freelance talent, no matter their location.This is how we do it.

Worldwide payments with the Lano wallet

Paying contractors that are spread out all over the world is difficult, right? It doesn’t have to be! The Lano wallet allows you to pay freelancers anywhere in the world without the hassle of high exchange rates and complicated payment transactions. 

With the Lano wallet, you can make global payments in 28 different currencies, all with one click and with no additional fees. All you need to do is to set up your Lano wallet, top it up with our currency of choice, and then pay your partners in their local currencies, either through local payments or SWIFT payments. 

You can learn more about how to set up your Lano wallet in this article.

Easy invoice management

Managing your freelance workforce can quickly become a fulltime job. Not only do you need to allocate tasks and manage communication, you also need to organise, review, and pay their invoices. Lano helps you to streamline this process.

Simply have your contractor's download our free app and submit their invoices via our platform. This allows you to organise your received invoices more efficiently in one centralised spot. Additionally, you can directly open, review and approve the invoices in Lano and send them out for payment.

Automated data processing

Are you still managing your payment details in different spreadsheets? This method is probably costing you not only precious time, but also holds a lot of potential for mistakes. 

Our contractor management solution includes a single centralised dashboard providing all the information and data you need for your entire team. You can easily monitor your expenses with our automated graphics and manage your global team individually or collectively. 

Furthermore, we will notify you whenever you receive a new invoice or if a payment is overdue. No more need for calendar reminders or manual set ups. Lano has got you covered!