Payroll is a segment within any business that can be wrought with operational pressures from compliance to data management, security to time expenditure.

As a result, streamlining payroll plays a pivotal role in guaranteeing the maintained success of a business itself.

Below, we discuss how utilising Rise can aid your company in achieving this universal goal.

Improving Operational Efficiency: Fully Automated Crypto <> Fiat Routing

For many Web3-centric companies, one of the biggest pain points is the routing of currencies, be it from crypto to fiat or vice versa. It can be a very labour/time intensive endeavour with mistakes having potential to disrupt business operations or even land a company on the wrong side of the law.

Currency conversions, intermediary on/off ramping and banks all play a role in adding complexity (and therefore stress) to the process which often act as a barrier to companies even exploring the realm of hybrid payroll.

At Rise however, we fully automate this routing both ways.

This means that whether your treasury is denominated in stablecoins, crypto or fiat, payments can be made to your contractors in whichever currency they desire without your company having to consider the above variables.

Improving Operational Efficiency: Compliance with Laws and Regulations

When it comes to payroll management, one of the major challenges is ensuring compliance with the ever-changing laws and regulations governing payroll.

From tax calculations to deductions and contributions, the complexities can often be overwhelming.

Rise tackles these challenges by offering a centralised system that ensures accurate calculations of taxes based on the latest laws and regulations.

Onboarding new contractors and contributors onto Rise is quick and reliable thanks to our fully automated compliance checks that go through a Know Your Customer (KYC) system to ensure complete compliance.

  • After verification, each company and contractor are allocated their own Rise security ID via connecting their own web3 wallets or using one of our security keys.
  • This becomes their on-chain professional ID which is used for the verification and signing of transactions.
  • This provides additional security whilst automatically recording every transaction on the blockchain.

For example, workers who choose to be compensated in cryptocurrency have their pay transferred over from a USD balance to the USDC stablecoin.

Due to the fact that stablecoins are pegged to the value of their designated fiat currency (USD), this conversion is not subject to taxation as both initial and final values are equal.

Enhancing Operational Efficiency: Contractors Data Management

As we all know, efficient management of contractor data is crucial for smooth payroll operations. Manual handling of contractors data can be time-consuming, error-prone, and inefficient.

Rise addresses these challenges by providing robust features for streamlined contractors data management.

With Rise's centralised contractors database, HR professionals can securely store and access contractors information in one place harnessing the benefits of blockchain technology. This operates by virtue of our Rise ID system and associated smart contracts.

Elements such as work history, certifications and identification variables can be stored on-chain and thanks to utilisation of the ERC-725 standard, these Rise IDs are composable and therefore compatible with other decentralised applications.

As a result, there is no need to sift through multiple spreadsheets or physical files, reducing the risk of data errors and inconsistencies. Additionally, Rise offers a self-service portal that allows contractors  to update their personal information, reducing the administrative burden on HR.

Automated onboarding and offboarding processes further contribute to operational efficiency. When contractors  leave the organisation, their data is promptly removed from the system, ensuring compliance with data protection regulations and avoiding unnecessary clutter.

The benefits of using Rise for contractors data management are manifold.

  • The reduction in data errors and inconsistencies leads to more accurate payroll calculations, enhancing contractors satisfaction, one of the most important metrics regarding the performance of a business.
  • HR professionals also save valuable time by eliminating manual data entry and focusing on strategic HR initiatives.
  • Improved data security and confidentiality offered by Rise ensures compliance with privacy regulations, building trust with contractors.

Streamlining Time-Consuming Processes: Recurring Payments for Contractors

Managing recurring payments for contractors can be a cumbersome and time-consuming process. Mistakes in this regard can end up being very costly for a business, cause grave worker dissatisfaction, taint a company’s reputation and more.

With Rise, you can easily set up and manage recurring payments for contractors, ensuring timely and accurate payments. Furthermore, mass payouts to contractors and project contributors can be made at once, negating the need for them to be done individually or manually.

Automated reminders and notifications ensure that contractors receive their payments promptly, reducing payment delays and improving overall satisfaction.

The benefits of using Rise for recurring payments are significant, as listed below.

  • Payroll teams save valuable time that would otherwise be spent on manual payment processing.
  • The accuracy in payment calculations eliminates the risk of errors, ensuring contractors are paid correctly.
  • Streamlined recurring payments contribute to improved contractor satisfaction, leading to better working relationships and increased retention rates.

Managing Multinational Payouts: Operational Efficiency Across Borders

For companies with expansive workforces operating in multiple countries, managing multinational payouts is a complex and challenging task. Rise addresses these operational challenges by providing capabilities specifically designed for managing payroll across borders.

Rise supports dozens of local fiat currencies, allowing for payments which can be made to contractors across over 190 countries. Moreover, Rise ensures compliance with local tax laws and regulations, reducing the complexities associated with international payroll operations.

The streamlined payment processes across borders eliminate the need for multiple systems or manual conversions, saving valuable time and resources.

The reduction in complexities associated with international payroll leads to cost savings and improved operational efficiency.

Additionally, the transparency and visibility provided by Rise give you a comprehensive view of your multinational payroll operations, enabling better decision-making and strategic planning.


It is an absolute fact that efficient payroll operations are crucial for the smooth functioning of any organisation. However, the operational challenges can be daunting. Luckily, solutions to these challenges are available.

Rise serves to not only enhance a company’s offering by enabling cryptocurrency payments but also to improve its pre-existing payroll infrastructure.

Whether you're a small business or a multinational company, Rise can revolutionise your payroll operations, allowing you to focus on your core business activities while ensuring your contractors  are paid accurately and on time.

To learn more about how Rise can simplify your hybrid payroll, check out our recent guide below.