Companies can Now Streamline the Management, E-Invoicing, Compliance and Funding of their 1099 Workforce
ATLANTA, GA February 19, 2019 (NEWSWIRE DISTRIBUTION) – KyckGlobal, Inc., a cloud-based 1099 human resources and funds disbursement startup, launched the industry’s first comprehensive platform designed to streamline and simplify the complexities of managing, paying and reporting for contract workforces. The company raised $8 million from angel investors and leading Atlanta-based Venture Capital Firm TechOperators.
Aloette Cosmetics, one of the four brands in the Astral Health and Beauty family, announces its partnership with KyckGlobal to handle the commission payments for its beauty consultants.
“We are pleased to be working with Kyck to offer our home-based business owners faster, more efficient payments,” said Robert Cohen, Chairman and CEO of Astral Brands. “Kyck has a great solution to streamline operations around payment management, reporting and tax compliance for our independent consultants.”
The KyckGlobal platform is designed to strengthen the relationship between corporate payers and their 1099 payee base by creating transparency and efficiency in the payment process through document storage, tax form generation, payment statements and more. Companies can now leverage the speed, efficiency, accuracy and preferred payment options as a means to attract and retain top talent.
“We are delivering a next-generation, blockchain-based platform for the gig economy to manage 1099 workforce payments, subcontractor disbursements, employee rewards and recognition, employee aid and assistance, travel reimbursement, pension payments and more.” said Jessica Koenig, Founder and Chief Product Officer of KyckGlobal, Inc. “KyckGlobal provides a comprehensive invoicing, compliance and reporting framework that extends a multitude of alternative payment methods that enable recipients to select their preferred methods and timing of payments.”
Corporate payers can now offer their payees a number of payment methods to receive funding from same day ACH, reloadable prepaid cards, cash and debit to PayPal, closed-loop stored value cards, Bitcoin and more. Payers can segment their payees by groups and remit payment accordingly, as well as enable their payees to request out of cycle payments.
Benefits for Payers
- Sophisticated rules engine to manage how, when and under what conditions recipients get paid.
- Digital invoice, payment statement, compliance form and tax document generation, management and storage.
- Competitive differentiation by offering payees a number of payment choices and options.
Benefits for Payees
- Ability to split and direct funds across multiple payment accounts in each payment cycle.
- Single account to manage all of their 1099 revenue sources, even from multiple payers.
- Enables payees to request out of cycle payments to receive funds as needed.
Benefits for Payment Product Providers
- New revenue stream through a highly differentiated offering that is not commoditized.
- Compliments existing payment processing solution sets by enabling these providers to capture the back-office, business-to-consumer disbursements.
- Option to fully white-label or integrate into the platform.
To learn more or receive a personalized demo of the KyckGlobal, Inc. software and solution visit kyckglobal.com.
About KyckGlobal, Inc.
KyckGlobal is a cloud-based fintech firm dedicated to helping companies attract, retain and incentivize their talent through the power of e-invoicing and payments. This next-generation platform enhances loyalty by giving dynamic control to 1099 employees to manage their compensation, accounting and compliance across payers. Founded in 2018 by fintech executives and entrepreneurs, the company is headquartered in Atlanta, GA. For more information, visit www.kyckglobal.com.
Aloette is America’s premier age-defying beauty brand, providing women of all ages and origins with the highest quality skincare and cosmetic products available, as well as the most rewarding home-based business opportunities in the health and beauty industry. Incorporating cutting-edge cosmetic ingredients and technology, Aloette offers an array of innovative makeup and skin solution lines designed to deliver superior results. Aloette Cosmetics is an Astral Brands company. For more information, visit www.aloette.com.