Payment platforms for contractors

Simplicity, legal compliance and savings.

Many companies have lost the possibility of deducting payments to contractors or third parties in their income statement because they do not have the support of the contributions of these people to the Social Security System on the amounts paid.

The foregoing, because the State transferred to the contracting parties the responsibility of guaranteeing that the people from whom they purchase services outside of a labor contract, comply with the contributions to health, pensions and professional risks.

In the function of assuming this commitment, the contracting of third parties has become a headache for many companies that have to dedicate many hours to know the financial and tax information of their suppliers to make the appropriate withholdings, monitor their payment of contributions and pay them in the terms established by law.

Cadena developed and offers to the market a logistics scheme for payment of commissions and services to contractors, which operates hand in hand with digital technology, a great alternative that brings benefits to companies and self-employed workers, such as savings in time and procedures , the assurance of tax deductibility, the reduction of transfer operations and compliance with the law.

“Paying services and commissions to natural persons requires a lot of operability, doing it with digital tools translates into agility, transparency, and savings for companies and providers.”

Juan Fernando Salazar O.,
Finance Vice President of Cadena SA

“It is a specialized system that includes the process of characterizing the contractor or independent with the validation of data that determine their situation and tax and social security obligations (depending on whether or not they contribute to voluntary pensions, whether or not they have dependents, pays interest for housing loans, among others); and that also automatically processes the information, settlement and withholding of contributions, makes transfers to registered accounts, stores payment histories, issues certificates and notifies companies and contractors through emails and text messages about payments”, details Juan Fernando Salazar Ospina, Cadena’s Financial Vice President.

Decree 1070 establishes that if a company hires a non-employee provider without making sure that they are affiliated and make their contributions to the social security system, they will be in solidarity with any type of medical, professional or pension contingency that they suffer.

In addition to simplifying procedures and guaranteeing compliance with the law, these systems contribute to solving a problem for the government, companies and contractors, the insurance of pensions and the health of the self-employed on their real income. In addition, they allow companies to dedicate themselves to the core of their business and facilitate their production processes and their commercial relations with suppliers.



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