hSenidBiz Exceeds $3 Million Exit ARR in 3Q FY24

hSenid Business Solutions (hBS) released its financial results for the quarter ending on December 31, 2023, reporting a 23 percent year-over-year increase in revenues. The PeoplesHR Cloud business, constituting 76% recurring revenue, remains the primary driver having recorded a 40% growth year-on-year. The Company achieved a critical milestone in its growth journey by surpassing $3 Million in Exit ARR (Annualized Recurring Revenue). With continuous investments made in revamping and building a global sales workforce, the APAC market is now yielding the majority of new deal closures for the concluded quarter. The company’s core recurring revenue, an essential component for a SaaS business, has reported further year-over-year growth of 34 percent. While the higher operating cost base resulting from the investments made in talent and market development continue to impact the company’s bottom line, the core business margins continue to demonstrate steady improvements across the 3 concluded quarters of the financial year 2024.

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hSenid Business Solutions PLC appoints Ishan Fernando, as the new Vice President for Engineering

hSenid Business Solutions PLC (hSenidBiz) recently appointed Ishan Fernando as their Vice President – Engineering.

With over 16 years of experience, Ishan has a proven record in delivering product and customized business solutions to multinational organizations with a background in IT and Finance. Specializing in building technical teams, his strategic approach and product expertise have successfully groomed cross-functional teams to deliver within budgets and excel in client engagement.

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hSenid Business Solutions PLC honored with the Gold Award at the 31st Annual Export Awards 2023 for the Fourth Consecutive Year

In a resounding achievement, hSenid Business Solutions PLC has once again proven its industry leadership by securing the Gold award in the Medium Category of the ICT, BPO & Related Services Sector at the 31st Annual Export Awards 2023. The event, organized by the National Chamber of Exporters of Sri Lanka and held at the Shangri-La Colombo on December 8, 2023, recognized hSenid's sustained excellence in the face of a dynamic global landscape.

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hSenidBiz first to get ISO 27017 certification from Bureau Veritas for Cloud Security Control

Bureau Veritas Lanka has audited and certified hSenid Business Solutions PLC (hSenidBiz) with ISO/IEC 27017:2015, marking a significant milestone in cloud security practices in Sri Lanka.

ISO/IEC 27017:2015, a globally recognised standard tailored for cloud security underscores hSenid’s ongoing dedication to the implementation of cloud security best practices along with its dedicated cloud security team, ensuring the safeguarding of sensitive information stored and processed remotely.

hSenid Business Solutions PLC CEO Sampath Jayasundara said: “At hSenid, we are committed to continuous improvements of security and reliability for our cloud services. It is a reaffirmation of our firm commitment to data security that we have achieved ISO 27017 certification, demonstrating our readiness to meet the increasingly demanding needs of our customers. We’re pleased to introduce cloud security standards in Sri Lanka, and we look forward to offering our clients more confidence in their data.”

Bureau Veritas Lanka Country General Manager Shan Nanayakara said: “Congratulations to hSenid for reaching this milestone as the first organisation in Sri Lanka to achieve ISO 27017 certification for Cloud Security Control. We are glad to be the auditing and certifying organisation for hSenidBiz.”

Consultancy service was provided by Ernst and Young, a globally reputed name in its field. Ernst and Young Senior Manager, Technology Consulting Gayan Wijesundara said: “It has been a great privilege to be the Consulting Partner for hSenid throughout the certification journey all the way from the initial gap assessment, implementation, pre-readiness assessment and certification support for both the ISO 27001 and ISO 27017 Standards.

“We strongly believe that hSenid has set the benchmark for the whole industry as to how to establish an industry-leading Cloud Security Framework as per the leading international standards for cloud platforms hosted on global public cloud Infrastructure with a view to ensuring not only the quality but also the Information Security of its service offerings to its local and global clientele.”

Source : https://www.ft.lk

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