TwoPlan started rolling out real-time payroll float dashboards for Seoul construction small and medium enterprises this week, linking site attendance tablets to subcontractor payout calendars so general contractors can see which crews risk missing Friday wage transfers. The product targets housing redevelopment sites where layered subcontracting delays bank files even when owners sit on sufficient project accounts.
What the dashboard tracks
TwoPlan ingests clock-in data from rugged tablets at site gates, normalizes overtime rules under Korea’s Labor Standards Act, and projects cash needs per subcontractor tier. Float maps show when retainage, material invoices, and tax withholdings will absorb account balances before payroll windows close. Alerts fire 48 hours ahead if projected inflows from the developer client will not cover statutory wage deadlines.
Integrations push summary rows into NH and Shinhan business banking portals as read-only widgets—TwoPlan does not move money initially, but flags when treasurers must shuffle internal transfers between project sub-accounts. PDF exports use formats auditors recognize during Ministry of Employment and Labor inspections.
Why construction SMEs need float visibility
Seoul’s infill redevelopment boom squeezed midsize contractors juggling five sites with different completion milestones. Subcontractors walk off jobs when weekly wages slip, triggering cascade delays concrete suppliers feel within hours. General contractors traditionally spreadsheet payroll across KakaoTalk screenshots; errors caused double payments on one Gangbuk site and missed deposits on another last spring.
TwoPlan’s founders previously built workforce scheduling SaaS for retail; they pivoted after a family construction business nearly defaulted on wage guarantees. Seoul city innovation grants partially funded pilot tablets on three Mapo district sites with union oversight.
Funding and ownership
The company closed a ₩12 billion Series A in August led by a construction-focused venture fund with participation from a regional bank strategic arm. Founders retain majority voting rights but granted the bank observer status on treasury feature roadmaps. Investors bet payroll float data can underpin future working-capital loans with lower loss rates than generic SME scoring.
Cap table filings show employee stock options reserved for union liaison hires—a nod to labor relations sensitivities on wage tech. If the raise had failed, TwoPlan planned to shrink to software-only exports without hardware leases for tablets.
Labor compliance hooks
South Korea’s wage claim system punishes late payments with penalties; dashboards highlight statutory due dates in red even when commercial contracts suggest looser terms. TwoPlan blocks marking payroll “complete” until bank acknowledgment files upload, reducing fake confirmations some subcontractors accused clerks of filing under pressure.
Ministry inspectors testing the pilot said float charts help prove good-faith efforts when developers delay owner payments—though they stressed software cannot replace escrow reforms they still debate.
Site adoption friction
Older forepersons resisted tablet clock-ins until TwoPlan added offline modes syncing over site Wi-Fi messily stretched from trailer routers. Dust and glove use required larger touch targets; UX tweaks shipped weekly during August heat. Some subcontractors fear data will be used to bid down margins; contracts clarify attendance metrics stay with payroll, not bid desks.
Competing ERP modules from larger chaebol-affiliated vendors offer payroll, but implementation timelines exceed small GC appetites. TwoPlan sells month-to-month seats per site, undercutting annual ERP lock-in.
Revenue model and risks
Pricing combines per-worker active seats with optional SMS alert packs. Gross margins improve when tablets are customer-owned; TwoPlan still leases kits to cash-strapped startups. If construction permits slow after Seoul housing policy tweaks, seat growth stalls—founders diversified pipeline to Incheon logistics yard pilots as hedge.
Data breaches would be catastrophic; TwoPlan hosts in Korean clouds with per-tenant encryption and bans admin impersonation without dual approval. A missed alert during Chuseok overtime weeks would burn reputation faster than any feature gap.
What general contractors see Monday
Live pilots display float curves on trailer monitors beside safety posters. Treasurers at participating firms said the first win was catching a developer ACH delay before crews arrived for Friday pours. TwoPlan will add subcontractor self-service views so tier-three electricians see their own payout status without calling site offices—a transparency move unions requested.
If the raise had failed
Founders told investors the company would revert to a narrow export tool without banking widgets, likely selling to a larger HR vendor at distressed terms. The successful Series A keeps independence and funds Incheon expansion. For Seoul construction SMEs, the tangible change is earlier warnings on wage gaps—not another abstract fintech pitch deck.
