Under 30 Minutes
San Francisco, CA
NerdWallet is the source of clarity for all of life’s financial decisions. Every month, the company helps millions of people navigate tough choices like picking the right credit card or finding the best life insurance plan. When it came to managing their own finances and paying contractors, the financial experts at NerdWallet chose Payable.
Before Payable, NerdWallet tried a variety of systems for paying their growing team of contractors. “We had contractors keeping time with Paymo. I would produce an invoice of their hours and submit it to accounts payable,” shares Gennie Risner, senior payroll specialist. As the company started hiring more contractors, Genni found herself wasting more time every week prodding them for their hours and creating invoices for each contractor.
To save time, Genni’s payroll team switched to requiring the contractors to create and send their own invoices — using Bill.com to send payments. “But, for 20 different contractors, there would be 20 different formats. It didn’t work out well. And that’s when we went to Payable,” explains Genni.
Currently, Payable is a crucial part of the contractors’ onboarding. “As soon as I get a signed contractor agreement, I send an invite to Payable. They start using it. They get paid,” she explains. NerdWallet’s contractors now receive their payments faster. Genni says, “With what we were doing before, it would be a week before they got paid, or if they sent a bad invoice format, even a couple of weeks.” Now with Payable, contractors get paid in as little as three days. “Payments are much speedier than Bill.com because they’re getting processed faster with Payable,” points out Genni. “I think the contractors have been happier and Payable has helped our efficiency,” she adds.
Payable is excited to work with a company like NerdWallet which shares in our vision of simplifying complicated financial decisions.
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