Tiempo App Keeps a Log of Employee Hours So You Can Get Back to Work
Alyson Wyers — July 30, 2014 — Tech
References: tiempoapp & techcrunch
The Tiempo app helps log of employee hours so workers can stay focused and companies can pay them faster. The Y Combinator-backed time-tracking smartphone application allows employees to keep track of their time worked and send an invoice to their boss for approval. The mobile app also allows employers to pay workers so funds go directly to their bank account within 3 days. When users input their contact information, this allows the billing to be taken care of in a less complicated manner than the standard paper route.
Tiempo is compatible with other software such as QuickBooks online so you can integrate your employee hours, billing and accounting documentation. There is a fee associated with these integration services, as well as a 1% transaction processing fee. Tiempo also uses Stripe, so it is really closer to 3.9%, according to TechCrunch.
Tiempo is compatible with other software such as QuickBooks online so you can integrate your employee hours, billing and accounting documentation. There is a fee associated with these integration services, as well as a 1% transaction processing fee. Tiempo also uses Stripe, so it is really closer to 3.9%, according to TechCrunch.
Trend Themes
1. Simplified Time Tracking - There is an opportunity to create more time tracking apps/platforms that simplify the work process for both employees and employers.
2. Integrative Mobile Apps - There is an opportunity to create integrative mobile apps that not only track time but also allow for seamless invoicing and accounting.
3. Faster Payment Solutions - There is an opportunity to create faster payment solutions that allow for direct payment from employers to employees.
Industry Implications
1. Human Resource Management - There is an opportunity to disrupt the traditional human resource management industry by offering time-tracking apps that simplify the tracking of employee hours and make it easier for employers to pay their employees directly.
2. Fintech - There is an opportunity to disrupt the FinTech industry by offering faster payment solutions that bypass traditional banking channels.
3. Software Integration Services - There is an opportunity to disrupt the traditional software integration services industry by offering integrative mobile apps that allow for seamless integration with other software such as QuickBooks online.
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