The expansion of online marketplaces and platforms has led to an increase in the gig economy.
It is an online platform, so freelancers of all stripes may use it to find ways to sell their services, set terms, and get money.
Businesses may gain a competitive edge if they can pay such freelancers on time, in the currencies, and via the payment methods of their choosing.
Additionally, 204 executives from gig platforms were polled as part of the “Accounts Payable Automation: Why Gig Economy Companies See Payables Innovation As Key To Success” research, a partnership with Routable, to learn more about their intentions to leverage automation to increase payouts at scale, internationally.
Up to 87% of gig economy businesses anticipate that over the next three years, the number of their payables would increase by more than 10%.
But the capacity of these businesses to satisfy the payment expectations of gig workers is hampered by outdated procedures and technology in use.