Track Time with the Time Field Type (Beta)
|Available in: Sandboxes and Developer Editions. To enable this feature in all other editions, contact Salesforce.|
The time field type is a timestamp minus the date. You can select the time field type when you create a custom field.
To support using time in formulas, this beta release introduces the TIMEVALUE and TIMENOW functions, as well as new HOUR, MINUTE, SECOND and MILLISECOND functions.