Toronto-based Wave, the online finance software startup that has built a growing business around a freemium model of cloud-based accounting, is launching its new iOS payroll application today. The tool is a companion to the company’s web-based payroll platform, adding a much-needed mobile element to the overall product suite and building on the recent launch of the receipt scanner applications the company debuted earlier this month.
The iOS payroll app is designed to help SMB owners to run their entire payroll process from their iPhones, without having to jump on the desktop to do things like view a payroll history, run a new cycle, pay stubs and receive notifications to remind them of tasks that need completion. Notifications can be set for employees, too, to alert you exactly them a payment has been received. The app is debuting on Android, but CEO Kirk Simpson told me that the company is working on an Android version, too, with the intention of releasing that later this year.
The mobile app has been one of the top requests from Wave’s 600,000 current subscribers, and adds to Wave’s continuing efforts to build out that part of its business. Its freemium model appears to be working well so far, with the basic accounting tools available to all via an ad-supported revenue model, and additional tools, including the payroll suite, available on volume-based pricing. Moving mobile, which is a huge area of potential growth for SaaS-based offerings, si a good way for Wave to keep up with new players and stay ahead of legacy offerings.