Smartree, the strategic partner that offers integrated human resources services and software solutions, announces last year’s financial results, as well as the main development directions for 2022.
Therefore, in 2021, the turnover exceeded 123 million lei, increasing by 17% compared to the previous year. This increase was partly due to the new technology innovation division for HR processes, Smartree HRTech, which registered a turnover of 18.2 million lei. At the same time, Smartree Romania, the division that makes temporary employees available to companies, recorded a turnover of 105 million lei last year. By 2022, Smartree anticipates a 20% increase in the technology division and a 25% increase in the temporary staff leasing division.
The year 2021 ended with a profit of 5.3 million lei for the Smartree group, 35% higher than the one recorded in 2020. This profit also resulted from a series of automation operations implemented in the work processes of the companies in the group, following the pressure that the pandemic has imposed on accelerating efficiency initiatives.
“Last year was a challenging one and we are happy with the results we’ve had. The turnover’s growth was supported by the partnerships we have developed in the last two years and by the continuous preoccupation with the digitalization and efficiency of the HR processes for client companies. The Smartree team has managed to overcome all the challenges and all the unknowns that have come its way and I am grateful to my colleagues for all of their sustained efforts”, said Alexandra Peligrad, CEO of Smartree Romania.
In 2021, the pandemic continued to have an effect on the business environment, including the human resources field, requiring the transformation of various business processes or even total reinvention through work from home and hybrid work. Despite all these challenges, last year, Smartree implemented a two-company split project, which resulted in Smartree HRTech, the technology innovation division for HR processes. The new company has taken over the entire software technology and associated services business for the strategic management of human resource processes and is currently comprised of approximately 100 people. At the same time, Smartree Romania maintained the division of temporary work, staff leasing and recruitment, continuing to provide services for the provision of workforce to its customers, with an average monthly number of over 2,000 temporary employees during 2021.
“We expect the HR software and human resources services market to continue on an upward trend, based on companies and organizations increasing investments in digitalization. These are just some of the reasons why Smartree HRTech has become an independent company. In addition, with the pandemic restrictions lifted, companies will resume their strategic development plans and will want to invest in projects that include integrated HR process management and digitalization solutions, in order to improve and amplify their activities,” says Alexandra Peligrad, CEO of Smartree Romania.
In 2022, Smartree aims to continue the lines of growth set up in previous years, with an increasing interest in partnerships with companies that develop software and complementary applications in the field of HR processes. Examples of such partnerships that Smartree entered over the past two years are PandemSafe, an app that ensures a safe return to the office, Druid, an HR chatbot software, and Salarium, through which employees of Smartree’s client companies can request and receive payroll advances for the days already worked, anytime and from anywhere.
At the same time, another growth prospect that Smartree is aiming for is to carry out procurement and investment projects in HR companies. These projects could prove important for the dynamics of the company in the coming years, both for Smartree HRTech and for the division of temporary staff. Through its innovation division, Smartree is also investing in building a new HR software product. The decision to develop a new human resources solution comes as a result of the changes that the entire pandemic period has caused in company processes, in which HR departments have become key pillars in establishing and implementing business strategies.