Taxumo Soon to Bring 100% Cringe-Free Payment Collection for Freelancers and Self-Employed Professionals

According to the 2022 study of the Freelance Market in the Philippines, the Freelancer market is ripe for hypergrowth. A new survey of freelancers shows that the gig economy continues to grow exponentially in the Philippines, predominantly driven by the perfect storm that is the pandemic and connected online opportunities. 

But with the rise of a new earning potential avenue comes a myriad of challenges and administrative roadblocks to get a freelancer or business owner to complete an income or sales cycle. 

In our small survey of freelancers across the Creatives, Finance, Business and Technology sectors, we discovered that these are the top challenges they face:

Missed Opportunities Because of Manual Tracking of Income & Expenses

Freelancers send out an invoice at different stages of a project, service, or engagement. Because income collection can be erratic, this leads to missed opportunities in dynamically tracking profit. 

To track their income flow, freelancers who mostly engage in face-to-face transactions with clients and have only one or two clients are more likely to do it manually using Google Sheets or Microsoft Excel. This manual tracking often leads to multiple problems, since freelancers would likely set aside administrative tasks like this while they finish their other projects. 

The Shame of Payment Follow-ups

While most clients are diligent with payment follow-throughs, we found out that a freelancer often needs to follow up with the client at an average of two times a week after their invoice has been submitted. Not only does this take away bandwidth from a freelancer’s day, there may be a high level of discomfort sending reminders—that familiar feeling of “hiya” whenever they follow up for payment.

Payment Delays Because of Untracked Outstanding Payments

Consistent to the challenge of erratic invoicing schedules and manual tracking of receivables, freelancers are unable to accurately view (if not totally mess up) their missed payments tracking. This leads to more payment follow-ups, which may conflict with a client’s internal payroll schedule. This can then lead to further payment delay. 

Confusion on Contracts and Invoices

Surprisingly, there are still some engagements where an onboarding contract is also considered as an initial invoice. While this may be the practice for some gigs, freelancers who don't understand the difference between a service agreement and invoicing creates future payment delays. Some freelancers also don't know how to create a professional invoice, which may give the impression that their services are not worth much.

To address these myriad of problems millions of freelancers face on a regular basis, Taxumo is soon launching an invoicing feature that will allow freelancers and business owners to automatically send out invoices and collect payment. As we are in the early stages of this feature, we are slowly rolling out additional features for a full-suite experience.

The best news? We are launching all of this to our customers absolutely free!

Here is what you can expect from the new Invoicing feature of Taxumo:

1. Create your own professional-looking invoice
2. Download your invoice for personal storage
3. Send out your invoices automatically
4. Upload your client details for easier send-out
5. Access a dedicated Payor page
6. Get notifications for paid invoices 
7. Opt to sync with Taxumo tax compliance features (our paid subscription) for easier tax filing and payment

For the launch, we aim to solve the most pressing concerns that our community experiences on a regular basis. In the coming weeks, more and more features will be launched! 

Get early access to the Taxumo Invoice feature for free by signing up here!

About Taxumo:

Taxumo, the Philippines’ pioneering online tax filing & payment platform, is the easiest way for small business owners, self-employed professionals, and freelancers in the Philippines to prepare, file, and pay their taxes. With Taxumo, all you need to do is put in your income and expenses, and Taxumo does the rest (from computing your tax dues, to filling up your BIR tax forms, then paying your taxes–all online!)