Hiring contractors globally opens up a world of talent, but managing payments and tax reporting can be a major challenge. With intelligent payment systems like XTRM, you can onboard and pay contractors from anywhere in the world using just an email address—making the process simpler, faster, and more efficient.
Effortless Contractor Onboarding
Bringing in new contractors often involves mountains of paperwork and financial setup. XTRM’s smart payment system cuts through this complexity, enabling you to onboard contractors from any location with just an email address. Whether you’re working with individuals across multiple countries or currencies, this system streamlines the process, so you can get your contractors set up quickly and focus on the tasks that matter most.
Multi-Currency Support and Hassle-Free Exchange Rates
Managing payments in various currencies is one of the biggest pain points for businesses that hire internationally. XTRM’s payment system handles multi-currency transactions with ease, offering painless exchange rate functionality. Your contractors will receive payments in their local currency, ensuring a seamless experience without worrying about fluctuating rates or conversion fees.
Tax Reporting Made Simple
Navigating global tax regulations can be overwhelming, but XTRM has built-in features to simplify the process. The platform ensures comprehensive tax reporting, including hassle-free 1099 creation and delivery. Contractors can submit their banking and tax information securely through XTRM’s Partner Payee Manager, which stores this sensitive data safely. This allows you to launch your payment program quickly and efficiently without the headache of manually collecting tax details from each contractor.
Intelligent Payments with XTRM
- Smooth Payment Experience
XTRM’s digital wallet solutions allow you to send and receive payments effortlessly, no matter where your contractors are located. Payments are fully automated and can be processed through XTRM’s platform, making it easy to manage global transactions without manual intervention.
- Global Reach
Gain access to a vast network of countries and currencies, removing the barriers associated with traditional payment methods. Contractors can choose from multiple in-country payment options, allowing them to receive payments in the way that works best for them, whether through bank transfer, prepaid cards, or digital wallets.
- Accurate Tax Reporting and Partner Setup
With XTRM’s Partner Payee Manager, collecting and storing contractor banking and tax information becomes a secure, streamlined process. This tool ensures the accurate collection of data across countries and currencies, allowing you to deliver payments with confidence. XTRM also handles tax reporting, providing 1099k and international tax documents, so you can be sure that all tax obligations are met.
- Effortless Payment Monitoring
Tracking payments and monitoring your contractor programs has never been easier. XTRM offers robust reporting tools that allow you to stay on top of every transaction, making reconciliation a breeze. All payment histories are retained, giving you full visibility and control over your financial operations.
- Personalized Customer Support
XTRM goes beyond technology, offering direct customer support to ensure all payments are delivered on time and to the correct accounts. Whether you have questions about a transaction or need assistance, XTRM’s team is available to help, offering personalized support to both you and your contractors.
Start Paying Contractors the Smart Way
Managing global contractors is easier with XTRM’s intelligent payment systems. From effortless onboarding to automated payments, multi-currency support, and robust tax reporting, XTRM offers a comprehensive solution that eliminates the traditional challenges of international contractor payments. If you’re ready to streamline your global contractor payments, XTRM’s intelligent payment system is the way forward. Learn more when you book a call with our sales team.
