Timerack Continues on Accelerated Growth Path with Fresh Funding
A More Intelligent Time & Attendance Solution Provider for Staffing Agencies Gets $3 Million Shot of Investor Funding
RALEIGH, N.C., Nov. 17, 2021 /PRNewswire/ — Timerack time and attendance software today announced its most recent round of funding of $3 million by investment partners has been finalized. This investment is expected to accelerate the already robust growth trajectory for the company, which has recently enhanced its product line with analytics- and AI-based software solutions. The company has also opened a brand-new office space in Raleigh, NC.
The company is a leader in cloud-based software solutions for small- to mid-sized businesses, including staffing agencies. Timerack’s employee time and labor management, HR suite and payroll integration solutions are designed to streamline operational activities and employee activities, regardless of location:
- In the office Uses a traditional time clock as well as a kiosk offering requiring photo ID
- Online and mobile app Enables staff to clock in and out using a laptop and ethernet or mobile device using wi-fi or cellular
- At client sites Tracks staff using geo-fencing capabilities via GPS and Google maps
Timerack’s IntellipunchTM user-friendly interface eliminates the need to train employees on how to punch, which improves the onboarding process. Employees are assigned a PIN and the automated Intellipunch system guides them through the steps, enabling business owners to reduce time spent on training so they can focus on revenue-generating tasks.
“We’re excited for the next chapter in the company’s evolution. We’ve leveled-up in every conceivable way, from our new workspace to our new product enhancements that really set us apart from the competition. This new wave of investment helps us continue our mission of continuous innovation to reduce redundant, low-value tasks for companies, so they are free to focus on new business and other growth initiatives,” said Adam Day, president and CEO, Timerack
Benefits of Timerack’s Cloud-Based Software Solutions
- Eliminates manual processes with automated, cloud-based time-capture tools
- Ensures agencies pay employees accurately and on time
- Easily integrates with existing HR tools, which eliminates duplication of data entry and minimizes human errors
- Helps enforce work/employment policies at the customer and state level
- Provides best-in-class support, with a 97% retention rate for Timerack users
“We believe Timerack’s intelligent approach is the best product in the marketplace and its capabilities frees companies from redundant, low-value tasks so there is more time to focus on new business and other growth initiatives”
About Timerack, Inc.
Timerack provides automated time and attendance tracking and comprehensive reporting using software, time clocks, a mobile app with geofencing capabilities, and an easily integrated HR module. By ensuring employees are paid accurately and can easily request time off, Timerack helps employers maximize their return on employee investment (ROEI) while creating a better employee work-life balance. Timerack is a cost-effective, cloud-based time and attendance solution for businesses that handle hundreds of employees per location. Timerack’s automatic alerts and features reduce theft, decrease risk of fines and lawsuits for non-compliance, and are designed to help reduce overtime by 20% to help improve the business bottom line.