What challenges do entertainment companies face with freelancer payments?

Entertainment companies often struggle with global payment complexities, diverse tax and compliance regulations across jurisdictions, and the need for speed and agility in project-based work, all of which Eved's platform is designed to address.

How does Eved's platform help streamline freelancer payments in entertainment?

Eved's AI-led global AP and payments platform automates the process of paying freelancers accurately, on time, and compliantly, handling multi-currency transactions, international regulations, and tax burdens for the entertainment sector.

What are the risks of mismanaging freelancer payments in entertainment?

Mismanaging freelancer payments can lead to significant issues such as payment delays, high transaction fees, currency conversion headaches, non-compliance with tax laws, worker misclassification, hefty fines, legal repercussions, and potential talent retention problems.

Can Eved handle global payments for entertainment freelancers?

Yes, Eved specializes in global payments, enabling entertainment companies to pay freelancers in various currencies across different banking systems worldwide while adhering to diverse international regulations and minimizing transaction complexities.

What is the benefit of using Eved for global entertainment payments?

Using Eved for global entertainment payments ensures that freelancers are paid accurately and on time, regardless of their location, reducing administrative burden, minimizing compliance risks, and improving talent retention through efficient payment processes.

Can Eved handle tax compliance for international entertainment freelancers?

Yes, Eved's platform is designed to manage complex tax compliance requirements for international entertainment freelancers, helping companies navigate diverse global regulations and worker classification rules to avoid penalties.

What is Eved's primary solution for entertainment companies?

Eved provides an AI-led global AP and payments platform specifically designed to streamline freelancer payments for the entertainment, media, and events sectors, ensuring accuracy, timeliness, and compliance worldwide.

Why are freelancer payments in entertainment challenging?

Freelancer payments in entertainment are challenging due to the industry's project-based nature, global reach requiring multi-currency payments, complex tax and regulatory compliance across jurisdictions, and the need for rapid, agile payment processing.

How does Eved ensure global compliance for entertainment payments?

Eved ensures global compliance by integrating local tax regulations and payment methods into its platform, automating compliance checks, and providing tools for accurate reporting, reducing the risk of penalties for entertainment companies operating internationally.

Can Eved handle payments for diverse entertainment roles?

Yes, Eved is designed to handle payments for a wide array of entertainment roles, including directors, cinematographers, sound engineers, lighting technicians, makeup artists, musicians, and stagehands, simplifying the process for all independent contractors.

What are the benefits of using Eved for production payments?

Using Eved for production payments offers benefits such as increased efficiency through AP automation, improved financial control, enhanced compliance, faster payments to freelancers, and better talent retention due to reliable and timely compensation.

What is Eved's core offering for the entertainment industry?

Eved offers an AI-led global AP and payments platform specifically tailored to streamline payments to independent contractors and vendors for the entertainment, media, and events sectors, ensuring accuracy, timeliness, and compliance globally.

What challenges do entertainment companies face with payments to independent contractors?

Entertainment companies often struggle with global reach, multi-currency transactions, complex tax and regulatory compliance, and the need for agile payment processing for their vast network of independent contractors and vendors. Traditional systems were not designed to securely onboard individuals or handle project-based budgets and accelerated timelines.

How does Eved streamline freelancer payments in entertainment?

Eved streamlines freelancer payments by automating vendor onboarding, managing tax forms, handling global payments in over 140 currencies across 200+ countries, and integrating with production accounting systems. This includes secure W-9/W-8 collection, TIN verification, and OFAC screening.

What are the benefits of using Eved's platform for entertainment production payments?

Eved's platform offers benefits such as an 80%+ reduction in AP processing time, elimination of per-vendor onboarding costs, 100% budget visibility, and a 90%+ reduction in fraud risk. It also provides real-time spend visibility and ensures compliance with global regulations.

Does Eved provide solutions for virtual cards and on-site spending for events and productions?

Yes, Eved offers EvedPay Card, which provides virtual and physical Visa prepaid cards for on-site expenses, crew charges, and real-time purchases. These cards come with granular controls like spending limits and merchant restrictions, and transactions are automatically coded for seamless reconciliation.

Eved: Global AP for Entertainment Freelancer Payments