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The Hidden Cost of Scaling a Global Team: Unsustainable Service & FX Fees

1840 & Company is a leading business process outsourcing and staff augmentation company based in Kansas City that helps companies hire pre-vetted talent globally. With demand for offshore talent skyrocketing during the pandemic era, 1840 rose to the challenge, becoming a key player in this space.

For several years, 1840 utilized a prominent payroll provider to compliantly manage and pay its global workforce. However, as the company's growth accelerated, they encountered significant challenges. High service fees, aggressive FX conversion rates, and various hidden costs rendered the payroll provider's services increasingly unsustainable for a rapidly expanding business. The rising monthly expenses began to impact 1840's profit margins, prompting the need for a more scalable and cost-effective solution.

Thera’s All-in-One Global Payments Platform at Half the Cost

Thera's global payments platform provided 1840 with the all-in-one solution theyneeded. This platform encompasses automated payroll processing, reimbursement facilities, local compliance, and an employee-friendly self-service portal. Most importantly, Thera offered these services at nearly half the cost of the previous provider.

The transition of over 330 contractors to Thera was seamless, thanks to the dedicated efforts of Thera's customer success team. "Changing service providers can be a daunting task, but the team at Thera took care of the processand made it seem effortless," stated Bryan DiGiorgio, CEO & Founder of 1840 &Company.

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Seamless Global Payroll with a 50% Reduced Service Bill

Switching to Thera resulted in a nearly 50% reduction in 1840's service bill, enabling the company to scale its business without the burden of escalating costs. 1840 continues to expand its outsourcing services, now offering recruitment in over 150 countries.

"Thera has eliminated the friction associated with managing a global team. We spend less time on financial administration and more time on business growth. It’s really a no-brainer," added Bryan.

By transitioning to Thera, Bryan and the 1840 team have saved hundreds of hours and significant financial resources, which can now be reinvested into the company's continued growth and success.

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