OneClickHR, the AIM quoted HR software and solutions provider, is pleased to provide an update on current trading and will announce the following at its AGM to be held this afternoon.
During 2009, the Group has continued to build on the success of its 2008 trading performance. Sales of software licences, revenues from SaaS customers and implementation revenues for the first 4 months of 2009 are all ahead of the comparative period in 2008. The Group has been cash generative during this period.
The Group can report the sales pipeline for its HR.net software solutions remains strong.
The growth in HR.net installations reflects the competitiveness of HR.net as a HR solution for enterprise customers. The group continues to enter new market sectors through new client contract wins and new clients include a significant private equity firm, a major overseas telecoms operator, and a housing association as well as businesses in the insurance sector, the defence sector and the retail sector.
In line with the Group‟s strategy of expansion into new territories, OneClickHR has appointed sales partners in both Canada and the USA. These partners have achieved their first sales, adding the North American continent to the current list of overseas markets that already include Australasia, Europe, and the Caribbean.
As stated in the 2008 Financial Results, the Group is re-branding HR.net as HR.net Enterprise and is developing a new product range. In accordance with this commitment, the Group is pleased to announce that it is on track for timely delivery of the improved range in mid-2009. The new products, branded as HR.net Lite, HR.net Express and HR.net Professional, replace legacy products developed for smaller organisations. As a result, the Group believes that its enhanced product range will mean that it can deliver a strong, modern product for any organisation, irrespective of size.
In line with the stated intention to grow as a profitable and cash generative business, the Group is implementing a re-organisation of its training business to create cost efficiencies and, more importantly, to ensure the business is best placed to enhance future growth of the Group. No significant costs are expected to arise from this exercise.
Frank Beechinor, chief executive officer of OneClickHR, commented:
“I am delighted the 2009 trading year has had such a positive start as a result of our improved sales and marketing activities. In spite of the economic downturn we have a strong sales pipeline for HR.net solutions. Businesses are continuing to take advantage of our products as they offer reduced costs and increased efficiencies.
I am particularly pleased to announce our first customers in North America. This is a market that we have identified as being of distinct interest and our initial efforts have led to a growing sales pipeline from this market. I expect to be appointing additional sales partners in this territory to increase our presence.
I also look forward to the forthcoming launch of our expanded range of HR.net software solutions. This will mean we can offer modern software to our installed base and importantly address the requirements of a broader range of organisations.
The expansion into new markets and of our product range means that, during this time of economic uncertainty, we are well positioned to deliver increasing shareholder value.”
US Website