Multiplier unveils COR for global contractor compliance

Multiplier has launched its Contractor of Record (COR) solution to address risks faced by companies engaging international contractors as the freelance economy expands globally.

The COR product aims to help businesses onboard contractors in under five minutes, generate contracts that adhere to region-specific regulations, and manage payments in over 120 currencies, including both local bank transfers and cryptocurrency. The solution also supports proactive compliance management by providing real-time legal updates and audit trails across more than 150 countries.

Compliance risks

The expansion comes at a time when independent workforces are reshaping labour markets around the world. There are currently 64 million freelancers in the United States, contributing to a freelance economy that exceeds USD $1.3 trillion. As businesses continue to hire across borders, they are increasingly exposed to risks related to worker classification and the compliance requirements of different jurisdictions.

Multiplier's new offering is targeted at companies seeking simplified contractor management, reduced legal exposure, and faster onboarding. A key feature is the ability for users to create legally compliant contracts tailored to local requirements in under five minutes, which is supported by workflows designed for specific countries.

Real-time compliance updates allow businesses to stay ahead of shifting legal obligations, while audit trails provide a record of contractual arrangements, supporting companies during regulatory inspections or audits. The tool also includes an indemnification feature, aiming to shield companies from financial liabilities associated with the misclassification of workers.

Local insights

Local experts employed by Multiplier provide guidance to ensure contractor arrangements are aligned with the requirements of each region. This assistance is designed to facilitate sustainable contractor programmes as multinational firms expand their footprints in new markets.

On the payment front, businesses using Multiplier's platform are enabled to consolidate invoices, track payments, and manage timesheets in a single interface. The payment capabilities accommodate a wide range of currencies and payment methods, including popular options within each local market and cryptocurrency alternatives.

"Staying compliant is no longer a one-time exercise; it's a continuous process that varies by region. In the U.S., businesses face the IRS 20-factor test. In Korea, ten separate factors determine classification. Multiplier's seamless COR solution is built to navigate this complexity proactively and at scale," said Sagar Khatri, CEO of Multiplier.

Multiplier's Contractor of Record service is intended to support businesses that regularly engage international contractors for project-based roles or short-term assignments. The company noted that as employment and labour laws vary widely by jurisdiction, a region-specific approach is necessary to avoid penalties and business disruptions.

Broader workforce management

In addition to its new COR service, Multiplier continues to provide an Employer of Record (EOR) solution, enabling clients to directly employ talent in foreign markets without establishing local legal entities. This solution covers payroll, taxes, statutory benefits and compliance with local labour laws.

The COR and EOR services are positioned to support the entire spectrum of global workforce requirements, from short-term contracting to long-term employment. According to the company, this integrated approach is designed to help organisations scale their cross-border operations while retaining compliance and control over employment practices.

Multiplier reported that it has processed almost USD $1 billion in cross-border payments since its inception. This volume reflects both the growing reliance on freelance and contract workers and the increasing complexity of international workforce management.

The company's recent launch comes amid significant regulatory scrutiny of worker classification practices, particularly in developed markets where legal standards can differ significantly between regions and roles. Multiplier aims to address these requirements through ongoing technology updates, legal expertise, and localised support for its clients.

Sagar Khatri remarked that contractor compliance and management will remain central as companies continue to engage freelance talent worldwide.