Client Story

Edutech Lab reduces manual work by roughly 20%

During a period of high growth, Edutech Lab faced multiple challenges while expanding its contractor usage and scaling operations. WorkMarket helps the company more efficiently onboard and pay their workers, while reducing complexities during tax filing.

Woman reviewing documents

The Challenge

Edutech Lab, a global standardized English language proficiency assessment and learning content developer, was faced with dramatic growth and needed to triple its independent contractor base after it had already doubled from 2018 to 2019. This was going to be a difficult task to achieve, as they were primarily working with contractors through very manual processes. This lack of technical capabilities caused confusion and complexity in their payments process, increased their compliance risks particularly during year-end filing, and stymied their ability to grow outside of the United States.

Streamlined Onboarding & Worker Verification

Taking the guesswork out of the process

With transitioning to WorkMarket, Edutech Lab was able to move from a fractured, manual, error-prone process to an automated system that reduces administrative burden while improving contractor visibility, confidence, and satisfaction. During onboarding, workers’ U.S. bank accounts and tax IDs are collected and verified with the IRS. Bank accounts also go through verification checks to help ensure authenticity, and workers cannot receive payment until both the tax ID and a payment method are officially verified. With these automated checks in place, it was easy to just sit back and receive alerts on each worker’s status in the onboarding process.

"Contractors seem more comfortable providing their sensitive tax and bank information through WorkMarket rather than through links being sent to them electronically." - Gina Caruso, Branch Manager

WorkMarket interface showing onboarding requirements and talent dashboard
Seamless, Bulk and International Payments

A full payment solution for a global footprint

Edutech Lab was managing thousands of payments each month, and with that came manual errors and incorrect payments. One of the key advantages WorkMarket provided to help solve this was the ability to bulk upload payment files for batch sends. By utilizing WorkMarket’s API capabilities, Edutech Lab was able to generate a payment file, with all their required fields for payment, and upload that file for processing. Additionally, WorkMarket enabled Edutech Lab to tap into a wider pool of contractors to address their growing global client base by allowing them to provide workers with a wider variety of payment options. With these additional payment options, such as PayPal or Hyperwallet, they were no longer limited to solely working with contractors in the United States.

"The option of offering multiple different payment types has given us a big advantage in finding talent across the globe." - Gina Caruso, Branch Manager

WorkMarket interface showing invoices to be paid and the payment confirmation pop up
Helping With Tax and Compliance

Electronic processing supports rapid growth

Edutech Lab was in need of the ability to maintain compliance at scale. This meant removing the manual processes that were not only taking a significant amount of staff time, but also were being managed by people who were not tax or compliance experts. WorkMarket’s platform enabled Edutech Lab to automatically track each contractor’s payments and electronically prepare the proper tax forms based on the contractor’s location. There was no longer a need to manually furnish and file the 1099-NEC tax forms for each contractor. WorkMarket took care of the heavy lifting by automating the sending, filing, and furnishing for each applicable contractor.

"I'm not a tax expert, accountant, or anything like that. So, the switch to WorkMarket has allowed me and others more time to focus on things that impact our bottom line, instead of worrying about these manual processes that are outside of our area of expertise. - Gina Caruso Branch Manager

WorkMarket interfaces showing a list of invoices and a tax information submission confirmation screen

WorkMarket at Work

Why WorkMarket

When you partner with us, we’ll enable you to better manage your independent contractors and unlock new possibilities for your business.

Attract top-tier talent

A great onboarding and payment experience for workers

Meet customer demand

Quickly identify the right workers for the right jobs

Scale your business fast

Talent base grows — not administrative burden

Improve compliance

Efficiently verify and track your business requirements

Gain visibility into your workforce

Real-time analytics on contractor spend and usage

Reduce cost, drive profitability

Automated processes save time and money

Two-minute overview

Two-minute overview

See how to automate workflows, from onboarding to paying your contractors.

Interactive demo

Interactive demo

Click through our self-guided demo to see how you can manage and pay contractors with ease.

Contact us today

Contact us today

Learn how our independent contractor management system can be customized for your needs.