According to a study conducted by MBO Partners, freelancers, consultants, and other independent workers will grow to 45% of the private, non-farm workforce—that’s some 54 million independent workers—by 2020 based on existing trends. People choose freelance careers for a variety of reasons. Some were forced into it because of the recession, some are displaced workers such as retirees or stay-at-home moms, and some are realizing how much the field has grown and are taking advantage of new opportunities.

In the past, freelancers mostly consisted of creative types, such as graphic designers, writers, and social media experts, but today’s freelancers are much more diversified. Freelancers now sell themselves as marketing experts, insurance inspectors, accountants, business project managers, and web designers. And it’s not just the freelancers who are driving the movement. In order to stay competitive, many business owners use independent workers to get expert help while keeping their operating costs down.

As freelance arrangements grow more formal, having a reliable system for contract management helps both freelancers and businesses protect their working relationships.

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