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Home / The Financial Advisor / Freelancers Are the Network Economy’s Supply Chain

Freelancers Are the Network Economy’s Supply Chain

Due to the non-stop accessibility of the internet, the freelance world, as well as the growing impact of crowdsourcing networks, has reached new heights over the years. With the arrival of this new breed of freelancers, namely those who work via remote location over the internet, businesses are able to find the right person for their assignments from a pool of people that stretches to all across the globe.

And “freelancers” don’t always consider themselves as such. In fact, here’s a high level industry breakdown of today’s network economy workers:

IndustryPayee
Traditional Accounts PayableSuppliers / Vendors
Ad NetworksPublishers / Site Owners
Affiliate NetworksAffiliates / Referral Partners
Monetization NetworksPublishers / Content Owners / App or Game Developers / Licensors / Artists / Producers
Crowdsourcing NetworksContributors / Freelancers / Gig Workers / Contractors / Drivers
Marketplaces (Online)Partners / Suppliers / Vendors
Translation NetworksTranslators
Learning NetworksEducators / Contributors

A great deal of online freelancers may hail from North America; however, regions such as Europe, Central and East Asia, the Middle East, and South America are also showing a great deal of growth, which only serves in expanding the talent pool that empowers business to have what may seem an infinite, on-demand workforce.

That said, freelancers often make their living on a volume-based system, as they are more often getting paid for the amount of work that they can produce, rather than the amount of hours they clock in.

The best way for a company to ensure that they are receiving the highest quality work possible is to keep their freelancers happy.

How do you keep freelancers happy?

One way is to give them all the information that they need in order to execute their job properly: clarity in instruction does wonders, for sure.

The other is to simply be punctual with your payments. While people around the globe may have many differences, one thing that’s universal is that everyone appreciates being paid on time. This is more than a reasonable way to heighten morale and manage a diverse group of people from all around the world.

To add even more value, paying in their local currency increases the convenience factor, and giving partners a choice in their payment method (not everyone wants PayPal or an expensive wire transfer), expresses a business’s commitment to their freelancers.

Today’s freelance partners of the network economy are essentially the supply chain of time, talent, and ideas. They may even have direct communication with your customers so you want to maintain a quality relationship.

About the Author

Rob Israch

Rob Israch leads global marketing for Tipalti and runs their Europe business, bringing over 20 years of leadership experience to the company. During the 7+ years that Rob has served at the company, Tipalti has experienced 50X+ growth while helping the company receive a valuation of over $8.3 billion and becoming one of the select few companies in America to have made both the Deloitte Fast 500 and Inc 5000 lists for the last four years running.
Prior to Tipalti, Rob served as VP, Global Marketing Programs at NetSuite, the leading provider of cloud-based Enterprise Resource Planning (ERP) software, helping to guide the company through 10X+ revenue growth, from a private company through IPO to cloud ERP market leader. Previously, Rob held a variety of executive roles at Intuit QuickBooks and GE Capital.


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