Smartree Group: Over 37% growth in revenue in 2022

Smartree Group, the strategic partner that offers integrated human resources services and software solutions, announces last year’s financial results, as well as the main directions of development for 2023.

In 2022, the revenue exceeded 169 million lei, an increase of 37% compared to the previous year. This increase was partly due to the new technology innovation division for HR processes, Smartree HRTech, which registered a revenue of 19 million lei. At the same time, Smartree Romania, the division that provides temporary employees to companies, recorded a revenue of 150 million lei throughout 2022.

Therefore, at the end of 2022, Smartree Group’s profit reached 6.6 million lei, a 24% increase compared to 2021. This profit follows the development of the Smartree HRTech company, as well as the growth of the client portfolio.

“Last year was one of unexpected challenges and numerous changes, which we had to adapt to on the fly, and we are grateful for the results we have achieved. The increase in revenue came from the sustained development of relationships within the client portfolio, coupled with business expansion, especially in the SaaS and technology area”, said Alexandra Peligrad, CEO of Smartree Romania.

Read more about

15 under 15: A project that invites companies to invest in Romania’s most important resource, its children

read more

In 2022, the biggest challenges for HR professionals were recruitment and retention, aspects that were felt within the Smartree Group, from the clients’ perspective. Uncertainty was the one constant in a year that was supposed to be one of recovery but which, in fact, came with war and economic instability, followed by price increases and inflation, with a direct effect on production costs. Despite these challenges, the Smartree Group prioritized the team’s well-being by maintaining a similar number of employees for the HR process digitalization division and recorded a significant increase in the number of temporary employees made available to clients, exceeding 2,700 at the end of 2022.

“Our colleagues are the pillar on which the Smartree Group grows, offering the highest quality integrated human resources services and software solutions”, added Alexandra Peligrad. “With their help, we managed to further develop our SaaS products in a year when the interest in this type of technology product exceeded expectations. As a result of the rapid changes in the economic and social environment affecting the balance between job supply and demand, as well as employee retention in all fields in Romania, automation and digitization of HR processes are essential to maintaining the overall economic performance of companies. Thus, considering

these changes, the increase in staff revenue, and the multitude of legislative changes affecting the human resources sector, companies see a strategic partnership with Smartree as essential for the proper functioning of their activities”, mentions Alexandra Peligrad.

In 2023, the Smartree group will continue to develop HR technologies, such as MyStaff Dashboards, the new module of the MyStaff suite. With this module, users will enjoy a superior experience and have access to a modern solution that displays real-time information through visual and interactive reports. Additionally, the mobile version of MyStaff Expenses, an app that allows employees to quickly create and submit expense claims and travel orders from any location using any mobile device, is also scheduled for release this year.