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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PeoplesHR powered by hSenidBiz, Accelerates into Top Gear in 2Q FY24

hSenid Business Solutions (hBS) announced its earnings results for the period ended 30 September 2023, reporting a total revenue of LKR 400.3 million for the concluded quarter. The primary driver of revenue growth can be attributed to the success of the PeoplesHR Cloud business, which accounts for 56 percent of company revenues. A majority of new business was generated in the APAC markets yielding results for the investments made in talent recruitment and market development initiatives in this region. Driven by the Cloud business, core recurring revenues now account for a notable 55 percent of total revenues. Amidst ongoing investments in sales and marketing initiatives, company earnings have shown an improvement from the preceding quarter, indicating positive signs of the stabilisation in costs and company net earnings.

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