An App to help you Run Your Business – Paymo
As I am always on the lookout for Mobile Apps with high impact, here is one worth considering.
Paymo is an app that covers time-tracking, invoicing and project management for freelancers and small businesses. It’s challenging the likes of Freshbooks and Quickbooks with an offering that is not only cheaper but but stronger. Paymo has everything one needs to run a small businesses and it can see it scale to a medium size business with relative ease.
Paymo is a bootstrapped startup App built by a small team in Romania. Eastern Europe has started to create some great tech startups of late. Paymo.biz, which isn’t to be confused with Paymo.com, owned by American mobile payments company BOKU, is one of these.
Paymo’s dashboard provides you with an overview of how time is being spent in your business when you log in for the day. Charts include “hours worked per day” for the last week, as well as statistics on how much business time was spent on work versus other. With Paymo, time tracking is as useful for billing clients as it is for ensuring your team has been working.
Paymo’s client manager is robust enough that most freelancers and small businesses won’t require a separate CRM platform. When creating a new client, there are fields for information the company, your contact at the company, notes and more.
The projects overview is a simple view that lists each active project, the corresponding parent, and a the used budget meter. Clicking on the project, the first thing you’ll see is the overview tab, which contains data about the amount of time spent on tasks that fall under the project, recent activity, time worked, unbilled hours, and access to settings, such as the hourly rate on that project. From this view you can subscribe to a project specific RSS or iCal feed, and retire or delete the project.
Paymo has a browser-based timer that can be launched from within the web app and will appear as a smaller pop-up window easily positioned to the side of whatever you’re working on. It’s a breeze to use: select a project, a task, and hit the Start button. You can optionally include notes about the time spent, which allows you to easily account for every slice of time you spent on a project.
Paymo’s invoicing feature set is easy-to-use. From the overview, you can view and set the statuses on invoices such as: draft, sent, viewed, paid and void. Paymo makes it easy to export invoice data as CSV so you can set up Excel spreadsheets of your monthly activity and the like.
Paymo’s reporting makes it easy to generate custom reports and look over your business activity for any time period, from the current day to all time. It’s good to be able to see at a glance where most of your money is coming from versus where most of your time is spent, enabling you to make changes that improve efficiency and earnings.
If you go out for a meeting once or twice a month, perhaps it’s easier to manually input time spent later on as I mentioned earlier. But if your business is all about making house calls and the like, or you just like to be accurate to the minute, a mobile app is the way to go.
As for going Mobile, there’s a capable, free Paymo timer available for the iPhone, but there doesn’t seem to be an official Android app yet. There is an unofficial Android app available — it’s great to see that the API is doing its job in ensuring that Paymo is as accessible as possible on a variety of platforms.
There are three Paymo price plans available. The first is free, and is great for those who just want a time tracker or freelancers with just a few regular clients. It includes three invoices per month, two users, 50MB of storage, unlimited clients and projects and the time tracking features.
The Basic plan at $9.99 per month drops the limit on invoices altogether and boosts the storage limit to 5GB. It’s designed for freelancers who need to send more than three invoices a month, and young startups.
Finally, the premium plan uses a per-user pricing model at $3.99 each, and applies to businesses who need more than two users to access Paymo. It currently supports up to 40 employees. Premium also gives users 15GB of data storage.
This summary was prepared from the article Spending too much time on admin work? Manage your whole business online with Paymo byJoel Falcomer