KarbonPay & XmartClock

KarbonPay, LLC is the 100% owner of XmartClock, LLC so when investing in KarbonPay, you are investing in XmartClock too. Both pitches are below:

XmartClock

Whether their employees work from home, the office, or at changing job sites, companies worldwide need an efficient way for their employees to clock in and out. Believe it or not, some companies are still using sheets of paper and FAXING copies to payroll. With XmartClock, employees can clock in on their phones or computers, with geolocation and facial recognition, sending hours straight to payroll, decreasing cost and increasing productivity for global companies.

XmartClock enables businesses to easily manage shifts in minutes, view late arrivals, absences or clock-ins outside of their work zone, and Pulling reports couldn’t be easier. Our system also has a pending integration with KarbonPay for seamless, global payroll.

Near the end 2018 we launched our product to the world and by the end of the year we had 277 users on our platform. We have grown consistently since then, with more than 4,000 users accessing our platform every day, across 21 countries and counting.

We are currently receiving between 200 and 300 trial signups every month, and our pending integration to KarbonPay is set to provide us with a great boost to our active users on the platform.

We’re currently integrating our system with KarbonPay, allowing employers to seamlessly send hours-worked from our app to payroll. This eliminates the time and errors that creep in with the manual passing and entry of data. The best thing about KarbonPay is that their platform provides automated payroll in multiple countries and languages, a match truly made in, well...the Cloud! Our 2-way partnership is likely to yield incredible results — which means the time to invest in XmartClock is now!

Time Theft and Buddy Punching

Time theft and buddy punching are common practices in companies that still use paper timesheets and Bundy clocks. The former simply refers to the practice of rounding up weekly hours while the latter means an employee clocks in on behalf of another employee. While many often do this to make up for a few minutes, this can have a huge impact on a business’ bottom line.

By investing in more sophisticated time tracking tools, you can eliminate the risk of compensating dishonestly logged hours.

• Time theft affects 75% of businesses. (Connecteam, 2020)
• Time theft can cost employers an average of $11 billion per year. (WorkPuls, 2019)
• Time theft can take as much as 7% of your gross annual payroll. (WorkPuls, 2020)
• Buddy punching can cost employers roughly $373 million every year. (WorkPuls, 2019)
• 49% of American employees openly admit to time theft. (WagePoint, 2019)
• Similarly, 62% of Canadian workers admit to doing so as well. (WagePoint, 2019)

Time Tracking for Payroll Management

We all know that payroll preparation can be a real pain, but can you imagine how much harder it is when you don’t have accurate time sheets to work with? Not to mention all the manual data entry. Integration between time tracking and payroll is crucial - hence our integration with KarbonPay.

• Up to 93% of employees in the US said that their paychecks are always delivered on schedule due to business and productivity tools such as time tracking. (Netsuite, 2020)
• Even with the availability of time tracking software, only 60% of employees are very certain that their pay deductions and net pay are accurate. (Netsuite, 2020)
• 49% of American workers will leave a company after experiencing two issues with their paychecks. (ASAP Payroll Service, 2021)
• Companies that utilize software with timekeeping and payroll features were 44% less likely to commit errors. (ASAP Payroll Service, 2021)
• Automated time tracking can reduce the time it takes to calculate time cards from seven minutes/card/pay period to one minute/card/pay period. (Acumen Data Systems, 2020)
• Companies that use an integrated timekeeping and payroll solution can exceed revenue targets by 7%. (ASAP Payroll Service, 2021)
• Payroll staff spend up to 1o hours a month on payroll processing. (WagePoint, 2019)

The XmartClock solution is simple, scalable, and globally optimized. Here’s how it works in 3 simple steps:

Our business model is simple, effective, and scalable. We charge per active employee per month. An active employee is counted as someone who has clocked in on any one day during the thirty day billing period.

We’re actively securing new deals and we’re confident that our growth will only continue to accelerate as our KarbonPay integration deploys. Here’s a look at our goals for the future.

Use of Funds

We currently serve customers in: Canada, USA, Mexico, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Colombia, Ecuador, Peru, Bolivia, Chile, Paraguay, Argentina, Uruguay, United Kingdom, Switzerland, Spain and Denmark.

KarbonPay

Inefficient payroll processes cost businesses time and money. KarbonPay is the innovative, cloud-based solution that automates calculations and increases productivity for global enterprises. 

KarbonPay enables businesses to easily process payroll anytime, anywhere without performing time-consuming manual calculations. This helps to eliminate costly mistakes while catering to the growing remote workforce trend. 

In September 2020, we launched in beta mode. Within the first month, we converted 25 paying accounts. Since then, we’ve grown to serve 45 companies and 280 active users. We have many more companies currently in our onboarding phase and will have 90 companies on board and 550 active users by the end of November!  

We’re currently negotiating two game-changing partnerships, estimated in value at up to $75M annually. Securing these partnerships will likely affect our valuation—which means the time to invest in KarbonPay is now!

Multi-country payroll outsourcing has emerged as a global trend—growing at a rate of approximately 20 percent. Amidst COVID, this trend has become a necessity for many companies. Demand is further fueled by competition amongst SMEs seeking to drive employee satisfaction via technology adaptation whilst reducing costs and increasing efficiency.

As many as 57% of companies with < 1000 employees are less than very satisfied with their current providers. This dissatisfaction stems from outdated payroll processing methods and platforms that offer only partial or unscalable solutions.

The KarbonPay solution is simple, scalable, and globally optimized. Here’s how it works in 3 simple steps:

Our business model is simple, effective, and scalable. We charge per active employee per month, when an active employee gets at least 1 payslip per month. Here’s an example of how our revenue structure works:

Most providers operating in multiple countries offer a centralized database for payroll data, but they only offer manual processing. Platforms that do offer multi-country automation are uniformly dated and inefficient, often requiring separate accounts for different countries. With this in mind, our route to market is clear as a preferred partner of services agencies and accounting firms with advanced SaaS integrations. 

We’re actively securing partnerships, and we’re confident that our growth will only continue to accelerate. Here’s a look at our goals for the future.

We’re currently available to customers in the USA, UK, and South Africa. As we expand our platform, KarbonPay will be available anywhere.