We use Bold as both a payment service and system of record regarding payments sent out to contractors, which is a need for many new startups and established industries. We really shine with companies that have to dynamically pay funds to a large group of contractors, suppliers, vendors, and the like. Companies use Bold to automate sending funds to recipients, onboard them, and to collect tax and payout account information. They can easily track how much is owed, sum it up, and facilitate payment, all through our API, saving hours of admin work per week. At the end of each year, we automatically produce 1099s and facilitate filing with the IRS on behalf of the company. Moreover, all of this information is synced back to their accounting system automatically.
Co-founder & CEO - Bold
1%Stacklist Startups Are Using Bold
Visit the website: https://gobold.com/