NexRep

How this Marketplace Platform Saved $200K and Hours Each Week with Streamlined Independent Contractor Payments through Branch

Background

NexRep is a marketplace platform that connects companies with customer service and sales agents across the country. Founded in 2009, NexRep sources independent contractors, all of whom work from home. This model of remote-first work offers flexible scheduling for agents—and helps the clients they support by aligning their staffing with highly variable contact arrival patterns. 

When NexRep switched from their previous payment provider to Branch, they saw several key business benefits. We spoke with Matthew Wichser, VP of Finance and Accounting, Ian Hunter, VP of Strategy and Analytics, and Megan Gonzalez, Invoicing Specialist, about these benefits and the process of switching to Branch to pay their network of independent contractors.

From slow, rigid payroll to a fast, flexible solution

Prior to finding Branch, NexRep was dealing with several administrative headaches with their traditional payment platform. They found that paying contractors was a slow, laborious process—particularly if there were any errors that needed to be remedied in order to get an agent paid.

These small errors—which are unfortunately common across industries, whether due to contractors not completing the necessary paperwork or entering their account information incorrectly—can cause major delays in payments and friction between contractors and companies.  

“With our previous solution, if there was a problem with pay, or payment was delayed, there was no quick way to remedy that. The payment would have to be included on the next invoice two weeks later,” says Wichser.

Wichser and his team wanted to find an agile solution that could offer a more seamless payments experience for their contractors.

“We started looking for a solution that was a bit more flexible that allowed us to pay agents more quickly if we needed,” says Wichser.

Saving time and money while streamlining the payments process

NexRep’s previous payment provider was not only inflexible, but also expensive and time-consuming, too. It was costing them upwards of $200,000 per year to pay their contractors—and required several hours of work each week. 

Ideally, NexRep hoped to find a solution that could offer a more seamless payments experience for contractors while also saving them time and money. While exploring their options, Wichser and his team looked at a few different solutions, but ultimately went with Branch, a free solution that could streamline contractor payments. 

“Branch is built to do exactly what we need to do, which is pay independent contractors. Now it doesn't cost us anything to pay contractors, and we’re saving upwards of $200K a year on payment processing fees,” says Wichser.

Working closely with Branch and equipped with tailored marketing materials, Wichser and his team sent out communications about the payments switch two weeks before the transition and found the rollout to be seamless. They could now send contractor payments with the click of a button, whether it was regular earnings or one-off payments or corrections.  

“The ease of which I can pay agents now is incredible,” says Wichser.  “I get a file from my IT team, I drop it in a folder, and I’ve paid an agent. If there was a missed payment or some sort of error, I can go in, click a button, put in an amount and the money is in the agent’s account immediately. Payment processing went from taking 3 hours (with our previous solution) to now taking 30 seconds with Branch.”

They were also pleasantly surprised about how easy onboarding was with Branch.  

“Before we were having to set up new contractors manually, upload their record, and enter their direct deposit information into the payment system. That was another source of potential error.” 

With Branch, agents can quickly self-onboard, which saves Wichser and his team time and administrative hassle.

Improving the lives of agents with anytime payments

Not only did switching to Branch benefit their business, but it has also benefited the independent contractors within the NexRep Marketplace. Megan Gonazalez, Invoicing Specialist with NexRep, has seen this firsthand, citing the ability of Branch to eliminate the stress of having to wait for reissued payments if there had been an error. 

“There’s no longer a two week waiting period to have their payments reprocessed if there is an error, because the payment can now be resubmitted immediately with Branch,” says Gonzalez.

And for Gonzalez and her team, the co-marketing help from Branch has also been a huge plus, making the transition even more seamless.

“All of the co-marketing spelled out the features of Branch very well and stated the setup process clearly. Most agents were able to create their accounts easily by following the steps sent out in the communications.”

Providing payments peace of mind to NexRep and their agents

Ultimately, switching to Branch has meant that NexRep can save time and money, while providing peace of mind to agents that should a new payment need to be issued, it can be done instantly through Branch and show up in their accounts right away. 

“Branch has made our lives a lot easier,”  says Wichser. “It’s a simple, straightforward solution that fits into our business model.”