TribeHR Announces Record Quarter with More Than 100 Percent Growth in Social HR Software Sales
Growth Fueled by Accelerated Adoption, Increasing Deal Size and Growing Sales to NetSuite Customers
SAN JOSE, Calif., WATERLOO, Ontario and BOSTON, May 15, 2013 /PRNewswire/ -- NETSUITE SUITEWORLD 2013 — TribeHR (www.tribehr.com), pioneer of the industry's first social HR platform, today announced first quarter sales grew by more than 100 percent year-over-year. TribeHR's customers now span businesses of all sizes, in more than 30 countries, including the U.S.A., Canada, Australia, New Zealand, South Africa, and the United Kingdom. In addition to accelerated direct sales, sales to NetSuite customers grew noticeably through the quarter, further fueling overall growth.
Successes in the first quarter of 2013 include:
- 46 Percent Increase in Average Deal Size – TribeHR experienced significant growth not only in total sales and new customers, but also in average deal size, demonstrating the broad appeal of social HR capabilities for small, medium, and rapidly growing businesses.
- Accelerating International Adoption – The company experienced accelerated sales growth in every region of the globe, adding deployments in 10 new countries.
- NetSuite Partnership Sales – Since becoming a NetSuite partner, TribeHR has seen growing demand from the NetSuite customer base, closing a significant number of joint customers in North America, EMEA and APAC. Through the partnership, joint NetSuite and TribeHR customers are able to manage their entire business from within NetSuite, including accounting/ERP, Ecommerce, CRM, and now HR and human capital management with the TribeHR SuiteApp for NetSuite that automatically synchronizes core employee data from the TribeHR SuiteApp to NetSuite in real-time. This reduces the need to re-enter data, eliminates administrative tasks and cuts the risk of errors.
- Delivering Twice the Return on Investment Over Traditional HR Platforms – Independent research and TribeHR customer data show that organizations using social HR platforms are able to not only reduce costs through process automation, but also increase employee productivity. By increasing productivity across the organization, companies are able to increase their ROI by upwards of 100 percent when compared to traditional HR systems.
"The TribeHR SuiteApp fits very well with our HCM partnership strategy by offering NetSuite customers Social HR capabilities and core HR functionality integrated with NetSuite," said Guido Haarmans, NetSuite Vice President of Business Development for Technology Partners. "With the TribeHR SuiteApp, NetSuite customers can choose an HCM solution that fits their business needs and feature requirements and it is great to see the fast adoption of TribeHR by our customers."
"Over the past several quarters we've seen organizations of all sizes invest in social HR," said Joseph Fung, CEO of TribeHR. "Even though our original focus was on small and medium business, we continue to see larger organizations looking for a unified HR management solution that not only cuts cost, but helps companies better engage, motivate and retain employees. Adoption from these larger customers is propelling TribeHR's continued strong growth."
For more information on pricing and availabilityfor TribeHR's social HR software, visit: http://tribehr.com/pricing/.
About TribeHR Corp.
Headquartered in Waterloo, ON and Boston, MA, TribeHR Corp. builds TribeHR, the first truly social human resources management software. Its easy-to-use tools are used by businesses worldwide, allowing companies to focus more on what they do best and less on things that get in the way. For more information, visit www.tribehr.com.
NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc.
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