BUSINESS CASE STUDY
Paralect Agency Drives Innovation
and Offers Flexibility to goLance Clients and Freelancers
CEO and Co-Founder of Paralect
“We worked closely with goLance to create a flexible, transparent, intuitive, global platform that could scale, support multiple payment systems, and provide a broad range of other much-needed capabilities for its users.”
In 2019 alone, goLance grew its user base by more than 30% over the prior year to include over 510,000 users. This increase is helping to drive revenue for goLance, which has paid out more than $76 million to freelancers over time.
The Paralect and goLance Partnership
The goLance platform began as a vision created by Michael Brooks in 2015 to connect global freelancers and clients easily and securely. Paralect needed to develop a platform to help deliver these services at the lowest possible cost. With the help of Paralect’s dedicated team of developers, the solution became a powerful, award-winning platform that provides an exceptional workflow for recruiting, hiring, managing, subcontracting, and paying remote freelance talent quickly and effectively.
This comprehensive platform went from concept to production in just six months, and goLance saw fast organic growth of its business within the first days of the platform’s release. It continues to evolve to meet and exceed the needs of its users. In fact, Paralect’s developers have been creating enhancements to the platform that deliver more services to the user community. Paralect’s innovations for goLance have made it easier for freelancers to apply for jobs, hire people, pay them in different currencies, integrate the freelance management processes with multiple systems, and do much more.
Paralect is an agency that specializes in shipping new digital products to its customers and relies upon its loyal team of highly skilled IT professionals to deliver these services. The company’s vision is focused on these priorities for all of its clients:
• Rapidly deliver high-quality products to its clients so that they can achieve a rapid return on their investment
• Maintain a long-term commitment to their clients and products while fostering a culture of hyper-efficient, loyal teams that are well recognized for their contributions
While there were a variety of online marketplace companies available to freelancers and clients when the goLance platform was being developed, these companies had limitations that goLance wanted to address with a unique business model and exceptional technology developed by Paralect.
Traditionally, online freelance recruitment and payment marketplaces charged relatively high fees to freelancers, and clients also paid fees.
Improve Time Tracking
Time-tracking tools, which are so critical for managing remote freelancers, needed to be more reliable and easier for freelancers and their clients to use.
Offer Better and Faster Payment Options While Meeting Compliance Guidelines
Freelancers desired the ability to be paid in the currency of their choice, while also ensuring compliance with regulatory standards. Historically, they had very limited options on the types of payment available.
Optimize Recruitment, Search, and Related Processes
Hiring and invoicing needed to be streamlined and enhanced.
Clients, agencies and freelancers want more innovative offerings to support their growing requirements.
The goLance platform and business model was designed to work as efficiently as possible to offer the lowest fees for users and no fees for clients.
Paralect has been able to update it seamlessly. The solution has been stable from Day One. It ensures that time tracking is accurate and that users don’t miss a payday.
Fast, Multiple Payment Options and Built-in Compliance
The payment capability is exceptional because users are paid quickly in any currency. Paralect chose the best payment service that works for a given user in a given time period. Depending on the country, a user may have the choice of multiple payment options. In addition, the goLance platform offers the flexibility of providing advance payments. Paralect also built fraud management filters to add additional layers of security and prevent fraud and implemented threshold billing capabilities for clients to thwart payment delays.
Recruitment Verification, Efficient Search and Client/Freelancer Transparency
It’s easy to verify skills to match clients with the best candidates for the jobs. Clients and freelancers have full transparency on rates and the platform is very easy to use. Freelancer data can also be synchronized with professional networks, such as LinkedIn.
We invented the goMeter and gave it a lot functionality while building it quickly and securely. We designed a very scalable architecture from the beginning. It has been a working solution since it was first developed. The architecture is powerful because we created a fault-tolerant, always-working, always-scalable solution to meet the needs of today and the future.
The Power of the goLance and Paralect Partnership
Paralect and goLance work closely together and have a passion for innovation. “We try to understand why a capability should be built, reach out to the users to get their feedback on proposed features, and perform analytics on the features to measure their success,” Dmitry said. “We really believe that the success of our clients is our success. In fact, goLance is one of our flagship products because it’s a powerful global website with vast amounts of data transferred with multiple payment systems and integrations.”
“Michael Brooks visited the Paralect team in Eastern Europe on numerous occasions to meet with us in person and exchange ideas. This level of commitment has helped to energize our team.”
CEO and Co-Founder of Paralect
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