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November 30, 2022
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Smartree Group: 42% increase in turnover in the first half of 2022

Smartree, the strategic partner that offers integrated human resources services and software solutions, announces the financial results at the end of the first semester, as well as the main development directions for the next period of the year.

The Smartree group recorded an 18% increase in profit compared to the same period last year, and a 42% increase in turnover, recording revenues of 80.2 million lei.

Smartree HRTech, the technology innovation division for HR processes, increased turnover by 12% in the first half of 2022 compared to the same period in 2021, achieving total revenues of 9.6 million lei.

The SaaS business line that Smartree HRTech took over registered a more accelerated growth compared to the outsourcing area of ​​payroll and personnel administration services. Automation of internal business processes played an important role in the efficiency of activities related to outsourcing services and more.

“Given the difficult situation which more and more companies are facing due to staff shortages, we predict that market demand for outsourcing and SaaS services will continue to rise in the coming period and throughout 2023, and we are prepared to address it,” says Alexandra Peligrad, CEO of Smartree Romania. “Additionally, the crisis generated by the conflict in Ukraine, as well as the energy crisis and the worrying level of macroeconomic indicators, such as inflation – which has risen at a galloping rate to the highest level in the last 20 years, have created challenges that continue to force us to find solutions to strengthen our resistance and develop our activities, in this period characterized by unpredictability and instability”, adds Alexandra Peligrad.

Even in the current conditions, marked by uncertainty, the company continues its development plans, both in terms of partnerships with other companies that offer complementary software products, and in carrying out acquisition projects and investments in companies in the HR field.

“In the next period we will launch our new digital module, addressed to all employees in a company’s ecosystem, which will greatly reduce administrative activities and provide users with an intuitive and pleasant experience. All of these are tactical actions that we take out of our ongoing concern for the digitalization and efficiency of HR processes, but also in support of our mission to provide HR professionals with the technology to relieve them of administrative activities. Thus, they have the opportunity to maximize the time allocated to the development of people and teams in order to achieve performance”, adds Alexandra Peligrad.

Smartree Romania, the division through which Smartree makes temporary employees available to its customers, reported a turnover of 70.5 million lei, a 47% increase over the same period in 2021. Furthermore, the number of employees provided by Smartree Romania to its customers increased by 22%, reaching 2,400 people. This evolution is primarily due to the increase in the number of employees of the company’s partners. Smartree Romania is a company with long-term collaborative relationships, based on quality services offered to customers and the degree of involvement of the team in honoring their requirements. However, an increase in the number of new customers was also an important factor in obtaining these results.

In May 2021, Smartree completed the process of dividing the two large business lines, following which Smartree HRTech, the newly established company, took over the innovation activity in software technology and HR services, while the Smartree Romania company continued its activity in temporary staffing, staff leasing and recruitment services.

 

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