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Introduction
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Multiplier is an EOR platform where you can send contracts in minutes, run payroll in over 120 countries, and grant equity to employees with their employee stock option plans, among many other things. They also offer 24/7 customer service.
Ratings
Ease of Use
Best For
Key Differentiator
Price
Free Trial
PROS
- Multi-currency payments in local currencies
- Multi-lingual contracts made instantly
- Compliance, payroll, onboarding, and timesheets, all in one platform
CONS
- Limited integrations. As of Summer 2022, Multiplier only integrates with BambooHR for HCM-type tools, although they are working on adding more.
Multiplier is an Employer Of Record (EOR) and a Professional Employer Organization (PEO) platform that helps companies hire, onboard, manage, and pay employees, as well as manage taxes, allowances, bonuses, social contributions, and statutory deductions in over 150 countries. For a company that was founded in late 2020, they have made significant strides in their industry, one of which is securing over $70 million in funding from 14 investors.
Further, their PEO service stands as the middle-man employer to process payroll, benefits, and other expenses required to manage global workforces. Multiplier also helps businesses with local entities process local payroll in the specific markets they are hiring.
Compliance with Multiplier
Compliance laws are bound to change from time to time, and this gets multiplied if you’ve got people in several geographies. As most of the best EOR services and global payroll software, Multiplier keeps you updated with their over 100 legal and tax experts that they have stationed in the countries they operate in.
In addition to that, Multiplier provides numerous resources on everything you need to know about hiring talent from just about anywhere in the world. These resources are thoroughly detailed and they contain all necessary information on salary data, top local universities, tax information, minimum wage, termination processes, public holidays, and so on.
Multiplier’s Hiring Tools
Furthermore, Multiplier comes packed with some recruiting and basic HR features. For example, the platform provides templates you can consult to create job descriptions. You can also use these templates to review applications and check if candidates tick all the boxes for the position required.
As for Contractor Management, they have a special plan that allows you to hire and pay freelancers in their preferred local currency. Interestingly, the software allows you to pay your freelancers in crypto too. The software also incorporates some lightweight administrative features such as time off requests and expense/reimbursement management.
Multiplier’s Stock Ownership Plans
Multiplier also facilitates employee stock ownership plans (ESOP). This means that, no matter your employees’ countries of origin, they can own stock options in your company. This feature can be a bargaining chip to help entice and recruit big talents across the globe.
As mentioned before, Multiplier provides insurance benefits as part of employment packages. These benefits are homogenized into bronze, silver, and gold packages. They have also given factsheets that contain information on each package so you can understand each coverage in each plan.
Multiplier’s Handling of Data and Customer Support
Of course, As an employer, you are responsible for the safety of your employees’ personal data. Multiplier keeps your tracks covered as they are GDPR compliant, which means they meet the requirements for properly handling personal data as defined in the general data protection regulation guidelines.
They are also compliant with other data security regulations such as PCI-DSS, which is the standard data security guideline for handling payment cards, and ISO 27001, which is the leading international standard on information security.
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- Instant contract generation: Whether it’s for a full-time employee, contractor, or freelancer, you can set up and send a contract within minutes.
- Multi-lingual contracts: Multiplier is one of the few software products that supports contracts in the local language of the market you are hiring. These locally-compliant contracts are automatically created using the parameters you give during the employee’s onboarding process. Once the contract is created, you can request changes to the draft before it is signed. This will come in handy if your business wants to add specific clauses to contracts.
- Multiple payment currencies: With Multiplier, you can pay employees and freelancers in their preferred local currencies.
- Timesheet: Employees can enter their time worked within the multiplier platform. This feature is useful for freelance payroll management.
- Administrative functions: Multiplier allows you to perform some administrative functions as well. You get to manage time-off requests, review timesheets, and track expenses all within the app. To streamline administrative tasks, you can add managers and administrators as well as the team members they will supervise. Managers can approve expenses and time-off requests.
- Employee self-onboarding/self-service: Once you conclude the process of adding an employee, they will receive an email from Multiplier asking them to self-onboard themselves. It typically takes 3-5 minutes for them to provide KYC details, banking details, and to sign the automatically generated contracts. Multiplier also provides a single-place for employees to access payslips, offer letters/contracts, track expense requests, bonuses, and see the benefits they are entitled to.
- Employee Stock Options Plan (ESOP): Multiplier allows you to grant equity to your employees with their ESOP plans. You can specify the type of ESOP, the vesting period, plan rules, and liquidity terms.
BambooHR is currently the only integration, but we are told they are working on adding more.
Multiplier offers two price plans for their EOR services. They are flat rates priced on a per monthly basis. The amount stays the same regardless of the number of employees you manage. You get to cancel anytime, and no credit card is required for initial sign-up.
Note that, in addition to these plans, you will pay additional costs for the employee insurance package (also offered as a stand-alone tool). It starts from $20 per month for the basic coverage plan, and the prices vary with additional coverage. Prices may also vary with location.
Global Payroll is also offered as a stand-alone product for businesses with or without local entities - starting at $20 per employee per month.
Multiplier is a better choice for companies looking to hire their global workforce in the Asia-Pacific region, although they don’t operate there exclusively. Their features are beneficial to startups, mid-sized businesses, and enterprises. An example of this is the variety of contracts they are able to handle, whether it’s for supporting an on-demand workforce, fixed term, full-time, and more. The EOR vs PEO debate is often confusing, but Multiplier does both.
Multiplier provides training in the form of documentation, live online demos, and resource videos, to all customers. The documentation can be found on their resource pages, while the helpful videos can be found in the help center.
We advise you to book a demo session before you commit to the software. The demo will take you through the process of hiring and onboarding your employees in five crucial steps— eligibility, basic details, compensation, insurance, and compliance. Multiplier has made the process compliant-proof so you are notified anytime you are about to make an error.
All statutory entitlements are parameterized with local labor laws in the markets you are hiring. They also provide guides and comprehensive information along the way to help guide your decision-making when creating employee contracts.
Multiplier is one of the few global employment platforms that offer a dedicated Customer Success Manager to each client. They go out of their way to provide round-the-clock support due to the global nature of their operations.
Multiplier was founded in Singapore in November 2020 by Amritpal Singh, Sagar Khatri, and Vamsi Krishna. Amritpal attended the London School of Economics and Political Science (LSE) in the 2000s and previously worked with KPMG London as an external audit consultant. Vamsi and Sagar are graduates of the Indian Institute of Technology, Bombay (IIT). Vamsi was the head of product at Funding Societies (Southeast Asia’s largest digital financing platform), and Sagar most recently served as the VP of Corporate Development at Hmlet.
Multiplier is funded by 12 investors and have raised a total of $77.2 million in three funding rounds. The seed round was raised in July 2021 and was led by Surge – an Indian startup accelerator. A few months later, Sequoia Capital, India led the series A round of $13.2 million and subsequently led the series B round that brought the total investment to over $70 million.
These investments, according to Multiplier, are used to add more features to the platform. Just recently, they added the option to pay freelancers with cryptocurrency, for instance.
Company HQ
Singapore, Central Region, Singapore
Number of Employees
101-250
Year Founded
2020
Amount Raised
$77.2 million
