September 29, 2020
Simplifying payroll for remote workers
The advantages of hiring remote workers are abundant, from a bigger talent pool and lower overhead costs to higher employee retention. But any company that manages such a workforce knows the pain of payroll and compliance. Especially with employees scattered internationally.
Deel simplifies the process. Their platform enables companies to legally hire anyone in the world, set up remote employee contracts in minutes, and pay employees in their preferred currency.
“At my previous company, we had teammates in more than 30 countries. To manage it, we needed five different payroll platforms, several bank accounts in different currencies, and a selection of lawyers to manage employee contracts,” explained Dan Westgarth, COO at Deel. “It’s a massive headache.”
For Deel, the headache included how to authenticate foreign bank accounts. Without this functionality, Deel customers couldn’t be certain their payroll deposits were going to the right place.
“We looked at building this functionality on our own, but that meant asking people to provide documentation to authenticate transactions. This is clunky, slow, and creates a lot of friction,” said Westgarth. “We also considered using local partners, but realized this meant managing a whole other set of issues.”
After considering several options, Deel turned to Plaid.