Too Much Time Onboarding?
Deel is a global payroll solution. This all-in-one HR platform compliantly hires, onboard, and pays full-time employees or independent contractors. However, Deel has some limitations. According to a G2 review, Deel fails to meet the minimum expectations. Users faced delayed visa processing and other inefficiencies like payment issues as well.
On the other hand, Wise claims to make cross-border payments easier. The platform helps clients pay international invoices, vendors, and employees with the real exchange rate in 80 countries at cheaper rates than traditional banking options.
However, Wise has some downsides too. According to a G2 reviews, the platform’s customer support is “nearly non-existent.” The team does not respond to urgent queries while transactions get paused and canceled even.
Further, users also say that Wise’s fund transfer is slow and they tend to change account requisites without prior notification.
You must have a 360-degree view of the tools to ensure getting the best solution for your business. So, here’s our comparative study on Deel vs. Wise (vs. Gloroots) to help you make an informed decision.
What is Deel?
Deel is a global payroll and compliance platform designed to help organizations hire and pay international talent. It serves as an Employer of Record (EOR), offering a suite of tools for managing contractors, handling payments, and ensuring compliance with local regulations. Managers or workers can update withdrawal details, visualize team structure, oversee total payroll spending, and complete multiple tasks using Deel’s self-serve interface.
Deel offers an automated onboarding process that makes international hiring easier.
Deel emphasizes compliance management. It helps businesses navigate and adhere to local and international employment regulations, including tax compliance, labor laws, etc.
International HR management
Deel HR management tools are designed to fulfill the needs of international employers. These tools simplify HR tasks with features like employee data management, document storage, and basic HR analytics.
Deel supports multiple payment methods and currencies, allowing businesses to pay employees and contractors in their preferred currency.
With the contract management feature, Deel enables businesses to create, review, and manage contracts with employees and contractors.
What do users like about Deel?
Most users like Deel’s transparent, easy and on-time payment to international freelancers and remote workers.
Transparent currency conversion
Deel keeps the payment process completely transparent. Its low cost, easy, and fast currency conversion allows immediate payment.
Faster and secure payments
Users appreciate Deel’s fast, secure, and reliable transaction process, which ensures that payments are processed efficiently and accurately.
Responsive customer support
Most users are satisfied with prompt customer support services. Deel’s around-the-clock chat support service helps customers with their queries.
What do users dislike about Deel?
Deel charges a hefty fee compared to other payment platforms. This can concern early startups and businesses on a tight budget.
Insufficient tax guidance
Deel does not provide tax guidance to remote contractors working with external companies.
Limited integration options
Some users desire more integration options with other tools and software commonly used in their businesses.
Some users have reported experiencing occasional technical glitches or bugs within the Deel platform.
Users have mentioned Deel cannot support customizing certain platform aspects, such as contract templates.
What is Wise?
Wise, formerly known as TransferWise, is a well-known solution to help make and receive international payments. With Wise’s online platform, businesses can send payments to remote workers and freelancers through a multi-currency account. Wise also helps to make lower-cost payouts to business customers, freelancers, employees, investors, and suppliers worldwide.
International money transfers
Wise allows organizations to send money to their workers internationally at competitive exchange rates with low fees.
Wise allows users to hold a single account to get payment and manage money in multiple currencies within that account.
Wise provides a debit card linked to a multi-currency account. So, users can make transactions and withdrawals in different currencies.
Complete payment solution
Wise’s payment platform includes business-specific tools, allowing businesses to manage international transactions, pay invoices, and handle expenses efficiently.
What do users like about Wise?
Most users appreciate Wise’s transparent fee structure and exchange rates.
Wise is known for its user-friendly interface. Users find it easy to navigate and execute international transactions.
Borderless multi-currency account
Wise’s multi-currency account simplifies money management for users who frequently deal with multiple currencies.
Wise's availability in several countries and its support for various currencies suit users with diverse international needs.
What do users dislike about Wise?
Users have reported limitations on the amount of money that can be transferred within specific time frames. Users needing larger transactions may face problems.
Complicated verification processes
Some users find the identity verification process complicated. It can be frustrating for people looking for a quicker onboarding experience.
Slow customer support
Some users have reported slow responsiveness of Wise's customer support and delays in addressing queries or resolving issues.
Why is Gloroots a better option?
Now that you know the benefits and limitations of Deel and Wise, here’s another global EOR service provider that suits your needs the best - Gloroots. Let’s learn about Gloroots’ features and why it is a better option for your organization.
Employer of Record (EOR) capabilities
Gloroots’ EOR services can simplify global employee management with unique features like the Self Service Portal, compensation management, tax management, etc. Gloroots allows you better control over your international talent acquisition, onboarding, and management.
Gloroots offers a 6-stage automated contract management process and makes the onboarding superfast. It also provides a single dashboard view for tracking onboarding progress. This dashboard also helps to manage employment contracts, leaves, and payouts. It can follow onboarding progress across countries.
Gloroots offers an easy and hassle-free cross-border payment facility for your global employees. Along with multi-currency, Gloroots offers crypto support, so employees will get more options to receive payment. It also lets you pay all your contractors in their home currency without bothering about manual conversions.
Gloroots maintains transparency by providing detailed monthly reports that include resource usage, foreign exchange rates, employer liability, and a breakdown of EOR fees.
Gloroots helps you to stay compliant with the domestic and international laws. It also helps adhere to local tax regulations, country-specific insurance coverages, etc.
Comparing Deel Vs. Wise Vs. Gloroots
Deel can help you with global employee management, whereas Wise is suitable for international payments. If you are looking for the best of both worlds, Gloroots is the right choice for you.
Gloroots offers you a balanced EOR solution. It offers customizable, data-driven solutions that align with your business outcomes. Gloroot offers 24/7 customer support, 100% compliance with tax and employment regulations, ROI tracking for HR initiatives, and other facilities, making it opt for your business.
Partner with Gloroots today and enjoy all the benefits Deel and Wise provide together.