August 19, 2009
As more people are working from home online, time reporting has been a big concern for both employers and employees to count their time on various projects done online. Often, many employees are at the mercy of either their employers or themselves to manage the time and hourly rates of work done online. In some cases, time management has a lot of guess work. Well, introducing TimeXchange, which is a new website that has a mission to provide solutions for managing time and payments online for both employers and employees.
TimeXchange is a unique website that offers a service that requires you to pay for services. TimeXchange also has a free trial version, which allows you to play around with the services available on the TimeXchange website for a certain period of time. The pay services that TimeXchange offers are the same services as are offered in the trial version. You can buy the annual plan which costs $39.95 pe3r year or you can buy a monthly plan that costs $9 for the first three months and then you need to contact the company to go on find out what the monthly costs will be for the continual use of TimeXchange’s monthly services.
Signing up for TimeXchange’s services is rather simple. First you need to type in both your first and last names, then your email address. You also need to confirm your email address and then you need to type in a password that contains a minimum of six characters. This password is case sensitive and needs to have at least one upper case letter and one number incorporated in it. After typing in your password, you need to confirm your password by retyping it as well. When you are signing up for the uses of TimeXchange’s services, you also have the option to add a few emails, which could be the emails of your friends, coworkers, business partners, etc. That feature, however, is optional. The required fields that need to be filled in are marked by an asterisk next to that particular field.
Once you are in the TimeXchange program, you have several features at your disposal that can help you manage your time in a very cost effective manor. At the website you have several tabs to choose from. The first tab is the project tab. You can click on that tab to create, manage, and delete projects. Projects can be related to your work, or if you are freelancing online, as many people do, you can choose what your hourly rate is and estimate how many hours this project will take you to finish.
The next tab after the project tab is the time tab. When you click on this tab, you come to a page where you can manage your time, hours for your work project, time when you are on vacation, etc. This page displays a calendar and you can choose dates and times. You can also use this page to keep appointments for both online and offline meetings.
The third tab is the expenses tab, which allows you to manage your expenses and in both the expense and time tabs, all the expenses are automatically added up for you. For example, you have an article writing project that you are doing online, in the projects tab you all the expense and payment information about that particular project. You can also manage costs for all kinds of other expenses in the expense tab. For example, if your job requires you to travel quite a bit, you can add the mileage and figure out how many miles you need to bill for. You can also figure out hotel expenses, meals, tolls and parking expenses, and many other kinds of expenses that you come across in the average work day or business trip.
The last tab on the TimeXchange website is the reports tab. This tab allows you to see what your reports are, prepare things for billing, etc. You can even export reports to other sites, such as the sites where your employer reviews your hours.
Your homepage on TimeXchange has your personal profile and you can also upgrade your personal profile whenever you like.
TimeXchange is a privately owned corporation that is based in Chicago, Illinois and was founded in 2006. TimeXchange has four people on its management team, who include Joe Piekarz, company president and CEO; Jim Figliulo, director of business development; Eileen Dowd, director of member services; and Maripa Abella-Davison, company CTO.
Members of the company’s board of directors include David Hill, Kevin Alodi, and Michael Kelly. TimeXchange does not disclose its investors, and the only information about investments that TimeXchange has been known to receive is seed funding, yet the vc firm who invested in this seed funding or the amount of the seed funding is not disclosed to the public.
TimeXchange does have one noteworthy competitor, who is Tsheets, which like TimeXchange was also founded in 2006. Tsheets is a company that provides similar services to that which are provided by TimeXchange. Tsheets is based in Maridian, Idaho, and has two people on its management team. Tsheets is a privately owned company which employs nine people.
For more information about TimeXchange, click here.