Are high transaction charges for payments to Turkey becoming a barrier for you in working with Turkish translators? Is taxation and compliance costing you and your freelancers a healthier workflow? Smartcat can help.
Global transactions for translation pay can be tricky. Especially in a country like Turkey, where the most popular money transfer methods that claim to guarantee the least expense also incur large hidden charges. Be it bank wiring, online money transfers, or even the transfer services of private companies, there are always some hidden conversion rates, taxes, and the like. In such a scenario, either translators get paid less than they could or your profit margin goes down.
How Smartcat solves the problem
With its Payment Automation solution, Smartcat helps you save a lot of time and money on international transactions, making you pay as little as $1.5 per transaction. We achieve this by having multi-currency bank accounts and local legal entities around the world and making use of fully digital payment methods to transfer money between countries.
But that’s not the whole list of benefits. You’ll also be able to pay all the suppliers in one go.
You won’t have to contact each freelancer or LSP separately for making payments and waste dozens of hours every month. All you’ll have to do is sign one translation services agreement with Smartcat and pay one invoice that includes payments to all the suppliers hired during that period.
This will allow you to cut paperwork by 95%: You won’t have to spend hours negotiating agreements, processing received invoices, and then actually making the payments, each with a different payment method.
Just pay once using your own payment terms with Smartcat, and the rest will be handled by our technology.
Also importantly, you’ll have guaranteed legal and tax compliance. No more changing of legal and financial frameworks to keep up with the never-ending changes in tax laws in different countries! Professionals and robots at Smartcat will keep up with those trends for you.
Last but not least, as the transaction costs go down, you can increase the rates your Turkish freelancers get paid for translating or your profit margin. So next time you have to work with Turkish translators, know that you can pay them easily via Smartcat.
To see how it works, request a demo today.