Trades services company Trade Chimp has joined forces with software development experts Arc Studios in a joint venture product development deal that will see hundreds of thousands invested into Trade Chimp over the coming years.
The agreement between the two Hull-based companies sees Arc Studios, who built the bespoke software and user-friendly Trade Chimp app, take an undisclosed equity stake in the company.
Trade Chimp, (https://tradechimp.co.uk/), provides operational and administrative support to tradespeople and small trades businesses around the UK with up to 10 staff, including electricians, plumbers, gas fitters, etc.
Managing director Sam Overment said: “Reaching an agreement with Arc Studios at this crucial stage in our launch is a real milestone for us, cementing our future product development and freeing up capital resources.
“Arc Studios are an ambitious team of Tech professionals who have already established an excellent company - it's a real win for us to have them on board. As well as further developing our product offering, the joint venture demonstrates that Trade Chimp is here to stay and that users can expect more exciting things to come as well as the continuation of our excellent customer service.”
Arc Studios will provide ongoing support in the form of new and improved features to the app, such as integration add-ons, so users can link up their Trade Chimp system with their preferred accounting package.
Arc Studios director Tom Findlay said: “The creation of the Trade Chimp app is one of the most exciting projects in which we have ever been involved and is quite clearly ground-breaking in what it has set out to achieve.
“Here at Arc Studios we have a proud track-record of new product innovation and once again we have been able to apply the latest digital technology methods to create a genuinely unique, new, useful and relevant business development and administrative tool for small trades businesses.”
John Connolly, managing director C4DI, said: “This is the perfect example of how Tech innovation and enterprise can meet the needs of traditional businesses, such as electricians, plumbers and builders, giving them the cutting-edge applications they can use each day, from smartphone to desktop.
“It is also a fantastic example of how C4DI has helped bring two entrepreneurial Hull-based Tech companies together, supporting them with the physical space and resources to focus on what are, quite clearly, ambitious and sustainable plans.
“This is an exciting time for everyone involved.”
The Trade Chimp user-friendly job management software package consists of two parts. There is the main web app that’s designed for the owner/operator of the business, and a separate app for the staff. It can be downloaded on a smartphone, tablet, laptop or desktop, and is accessible 24/7 from any internet-enabled device.
While a vital part of the app is helping to reduce trades’ companies’ dependence on paper timesheets, diaries, spreadsheets, and help deal with payroll and invoices, it also helps open-up the potential of businesses’ data.
Mr Overment added: “Data is a massively underutilised resource; hidden away in companies’ invoices, receipts, and timesheets it is the key to being efficient. Our monthly Business Intelligence reports clearly show where profits are coming from, which workers are the most valuable to the business, and which type of jobs are not performing. You need this information to make good decisions, and that’s what business is all about, making good decisions.”
Arc Studios: https://www.arcstudios.net/
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