A Gateshead firm that supplies payroll services and HR software is celebrating double digit growth for a 14th year, having seen turnover soar by 20%.
Launched in 1981, Cintra HR & Payroll Services has more than 700 clients, each with anything from a dozen to 10,000 employees, and last year saw the firm launch an innovative product which was poised to trigger huge growth in sales.
Chief executive Carsten Staer predicted growth of 10% on last year’s turnover of £2.9m but latest accounts show revenues rose to £3.48m, exceeding top forecasts of £3.3m.
The growth follows a full-year of sales from the firm’s solution Cintra iQ, a system which was seven years in development and which combines its separate HR and payroll software systems into one product.
The firm has also grown headcount from 65 to 80 in the last 12 months as a result of demand.
Over the year Cintra also become a member of the Payroll Services Alliance, a move which has seen the business attract numerous international clients. The Payroll Services Alliance was set up to provide the first pan-European payroll solution which can guarantee a consistent level of services across countries.
Partners in the Payroll Services Alliance all offer ‘best of breed’ local systems, such as Cintra iQ in the UK, backed by a common service level agreement
To cap off a bumper year, Cintra’s products and services also achieved national recognition, making it on to the shortlist of two prestigious industry awards; The Chartered Institute of Payroll Professionals (CIPP) Project of the Year Award for implementation of Auto Enrolment and Payroll World International Team of the Year.
Chief executive Mr Staehr was also named as one of the top 50 influential people in the industry by Payroll World.
Mr Staehr welcomed the figures and attributed the company’s success to its software and unique international network and to the culture of care that runs through the business from top to bottom.
He said: “Our focus is, and always will be, keeping our customers at the heart of everything we do.
“The success we have achieved not only reflects the strategic development of the business and our market leading software, but the fact that we have an amazing team of dedicated, friendly and professional staff, for whom going the extra mile is second nature.
“They are the true differentiator and what make Cintra and working with Cintra special. The resounding success of the company is testimony to the expertise and commitment of the fantastic Cintra ‘family’, of which I am immensely proud to be a part.”