Colleague SOFTWARES END OF YEAR SHOWS GREEN SHOOTS OF RECOVERY
Colleague SOFTWARES END OF YEAR SHOWS GREEN SHOOTS OF RECOVERY FOR THE RECRUITMENT INDUSTRY
Despite difficult trading conditions Colleague Software Ltd, a leading provider of integrated recruitment software solutions, has shown growth in both turnover and pre-tax profit in its year end accounts. In addition, other measures at Colleague indicate that the worst may be over for the recruitment industry as a whole.
Weathering the economic storm better than most, Colleagues turnover to the end of March 2009 increased by just under 5 per cent and profits before tax increased by 3 per cent. A highly creditable achievement during the depths of a recession.
However, one of Colleagues key performance indicators suggests green shoots of recovery for the recruitment industry may just be pushing through.
Colleague provides integrated front and back office software and technology solutions for recruiters across all sectors and one way the company measures its success is by monitoring the number of user licenses in operation. As recruitment companies expand they take on more licenses, and as they contract they manage their costs by reducing the number of licenses they need. Fluctuations in the number of user licenses held by Colleague clients give a good indication of the health of the industry.
From June 2008 to June 2009 Colleague saw the number of licenses provided to existing recruitment industry clients drop by 25 per cent. However from June to July 2009 Colleague recorded a monthly increase in user numbers of 6 per cent. This is the first month theyve seen a positive change following 12 months of decline.
Will Minns, Managing Director of Colleague, said: Of course Im very happy that Colleague is weathering the recession and the fact that weve won new clients, increased turnover and improved profit during a very challenging period is a great credit to the Colleague team. However, Im even more encouraged that were possibly seeing signs of recovery across the recruitment industry. A combination of fresh start-ups and business expansions is fuelling the demand for additional user capacity and indicates that confidence could well be returning to the recruitment industry.
Colleagues approach to delivering fully integrated front and back office recruitment software solutions is very scaleable and gives recruitment companies complete flexibility over their IT costs including no up-front set up charges for new installations.
Colleague are at the leading edge of the recruitment software industry offering a fully integrated front and back office candidate management system operating with the Microsoft Office suite of products. Colleague have been certified Microsoft partners since 2004 and Microsoft Gold certified partners since 2006.