Manufacturers cite the lack of compensation and reliability as critical to the growth of the industry
SAN MATEO, Calif., July 13, 2022 / PRNewswire / – Tipalti, a global payment management system, today released a new study on the future of the Creator’s Economy and the challenges that manufacturers face growing up. According to a study by 750 manufacturers from the US and the UK, where many people may want to pursue production as a full-time job, corporate problems such as fair pay and diligence prevent them from doing so, which in turn could affect companies’ potential for growth.
The Economy Manufacturing World is extremely valuable $ 104 billionand approx 50 million people who identify themselves as producers. Manufacturers are moving through one of the most difficult economic times of our time in companies facing many challenges: in particular, how manufacturers are properly paid for their work. Tipalti’s report, produced in collaboration with Wakefield Research, noted that manufacturers have a bright future and are seeing growth in their companies over the next five years, but there are obstacles to real development that need to be addressed.
Over the next five years, manufacturers predict the growth of their companies.
Many designers are thrilled with the growth of the Creator’s Economy, hoping for greater popularity among the group’s products and for more space.
- More than a quarter of manufacturers (26%) are leaving 9-5 jobs to focus on making the content as regular.
- When asked about corporate growth prospects, more than 2 out of 5 manufacturers (42%) predict that companies will directly hire more manufacturers in the next five years, and 40% predict that more people will start their jobs right away. .
- About 2 out of 5 (39%) predict that manufacturers will establish professional partnerships to promote their interests, and 38% predict that more graduates will want to create products as a career.
However, the creator of the Economy risks it if it does not solve major problems, including compensation.
While the desire to change things into a permanent gig exists for many manufacturers, major roadblocks prevent them from doing so. Failure to pay easily hinders producers and ultimately leads to economic growth for manufacturers.
- Most of the manufacturers (90%) experienced difficulties with payment.
- 41% increased their interest rate to pay for late payment or late payments and 36% hired someone else to do business related work.
- More than two-thirds (70%) of manufacturers agree that supervisory services such as invoices and payments prevent them from making the necessary living things.
- About 83% of creators do not have complete confidence in doing the essentials, but the complex management tasks themselves.
- More than a third (35%) of producers predict that more people will quit because they will not be able to make enough money.
These companies need to identify and integrate production support systems and streamline operations.
Organizations that work with manufacturers are at risk of losing talent and Brands are at risk of losing manufacturers due to the complexity. Ease of use, safety, and timing are essential for manufacturers as the work progresses. Businesses that provide feedback will be able to take advantage of the opportunities offered by Economy Economy by allowing their creators to focus on content, not admin.
- About 3 out of 4 producers (72%) who make money from products other than their employers say that paying only is necessary for their business to grow.
- Major constraints that manufacturers face when paid are such as receiving payments from several platforms (30%); time spent on repayment, payment tracking and resolution of payment disputes (33%); not knowing how to make all the money (32%); and the tax consequences for setting up a side business (32%).
- When it comes to choosing a pay-per-view platform, the well-known “essentials” are secure payments: they are essential for more than 1 in 5 manufacturers (21%) and the top three 50%.
- Paying on time is the second most important thing, while 47% of manufacturers make their list in the top three categories.
“With Covid and the Great Resignation, more and more people began to look at creating things as fiction and saw its potential as a full-time job. However, more than 80% of developers were interviewed. prevents them from doing all they can to the Creator’s finances, “says Paco Sure, GM of Global Partner Payments in Tipalti. “Now is the time for the manufacturers’ partner platforms to use paid technology to address the concerns of their creators and ensure that the Creator’s Wealth continues to grow.”
Dinani Pano to get the full report.
Tipalti 2022 Trends in the Creator Economy was conducted by Wakefield Research among 750 (500 US, 250 UK) “Content Creators” who are described as writers, artists, digital producers, programmers, actors, artists, artists videos, musicians and artists; does not include Marketing, Advertising and PR titles. The study was conducted in May 2022.
The results of each model have a variation of the models. The magnitude of the variance is measured and is affected by the number of interviews and the percentage of indicative results. Of the questions surveyed in this study, the probability is 95 percent that the results of the study did not differ, plus or minus, by more than 3.6 percent of the total, 4.4 percent in United States and 6.2 percent in United Kingdom from the outcome that would be obtained if the inquiry was to be conducted by the general public in the environment represented by the model.
Tipalti comes from the Hebrew word for “We did something.” Tipalti is the only company that performs all of the Global Partner Payments and Accounts Payable workflows for the fastest-growing companies in the global economy: rising and overseeing global retailers, setting up purchasing orders, managing invoices and approvals, making global payments and reconciling payments . data across a multidisciplinary financial group. Tipalti enables fast-growing companies to make quick repayments by making smart payments with efficiency, tracking, and cash flow management. Companies are able to pay efficiently and securely for thousands of partners and vendors in 196 countries in just a few minutes. Thousands of companies, such as Amazon Twitch, GoDaddy, Roku, WordPress.com, and ZipRecruiter use Tipalti to reduce job creation by 80% and speed up revenue by about 25%, while improving their visibility and boosting revenue and revenue. For more information, visit tipalti.com.