Revenue up 30% to £36.8m (2010 restated: £28.3m)
- Recurring revenue grew by 28% to £22.4m (2010: £17.5m) representing 61% of revenue (2010:62%)
- Operating margins (before share of joint ventures and amortisation of intangible assets) improved to 14.2% (2010: 7.8%) reflecting change in mix of licences and services
- Operating profit before the amortisation of acquired intangible assets and exceptional items of £2.59m (2010: loss £0.1m)
- Adjusted* profit after tax of £1.95m (2010: £0.1m)
- Adjusted* diluted earnings per share of 4.71p (2010: 0.37p) IFRS diluted loss per share 3.08p (2010: 2.40p)
- Net cash generated from operating activities of £5.15m (2010: £3.31m)
- Net debt reduced by £1.55m (2010: increase in net debt of £0.99m)
- Proposed dividend increased 50% to 1.2p
* Adjusted for the amortisation of acquired intangibles, share based payments expense. exceptional items and impairment of intangible assets
Commenting on the results Chief Executive Steve Russell, said:
“2011 has been a year of operational progress for Bond as we continue our recovery from the difficult environment of 2009 and 2010.
2012 has begun positively and we are confident that the Asia Pacific market will provide significant opportunities going forward. It is on this basis that the Board has recommended a dividend of 1.2p per share, a 50% increase on last year”
Bond International Software, the global provider of recruitment and human capital management software and services, will be showcasing the latest version of Bond Adapt – the specialist portfolio of recruitment software applications – at The Global Recruiter UK Summit on the 15th March 2012 at The King’s Fund, 11 Cavendish Square, London.
Attending and exhibiting at the summit, Bond demonstrates its commitment to helping those recruiters who are looking to expand their recruitment business on an international scale.
Demonstrations will be given of the latest version of its flagship product, Bond Adapt, the specialist portfolio of recruitment software applications currently used by some of the largest global recruiters and available as a Software-as-a-Service or as an on-site deployment. Newly developed features to aid recruiters’ day-to-day activities will be highlighted along with proven AWR workflows and Bond Adapt’s wide integration with other popular industry tools, such as Daxtra’s Search Station 2 and Drag&Tag.
The day-long summit will give a thorough overview of the competitive advantages that recruitment consultancies can gain from expanding into global territories, but will also detail the potential pitfalls. Presentations will be given on where recruiters should be looking for their first international move and indeed what the burgeoning regions are. Leaders in tax, politics and legal issues will be on hand to provide practical advice to those recruitment consultancies considering their first or next move overseas.
Jim Tanfield, Editor, The Global Recruiter, comments, “As an international recruitment software provider itself, Bond is well-placed to offer invaluable advice on how recruitment consultancies can expand into global territories. We are therefore delighted that Bond International Software is supporting our UK Summit by offering demonstrations of Bond Adapt. There is little doubt that when it comes to expanding a recruitment business into new countries, regions and continents, preparation is key. It is not simply a case of picking a burgeoning hot spot and making a quick exit to the airport. The nuances may be subtle in many aspects of overseas recruitment, compared to the UK, but getting them wrong can be very costly. The industry therefore has a responsibility to educate those businesses that are considering global expansion on how best to execute an international business strategy, and we are proud that our UK Summit will offer attendees such invaluable guidance.”
Tim Richards, Managing Director, Bond International Software (UK), comments, “We are looking forward to being involved in The Global Recruiter UK Summit as it provides us with a platform to raise the profile of Bond Adapt amongst key individuals and also share some of our own hard-won knowledge. Over the years, we have spent a great deal of time and resource in continually updating and developing our flagship product, Bond Adapt, in line with current industry needs, whether originating from the UK or from abroad. An event which focuses on global expansion within the recruitment industry provides us with a great opportunity to showcase the functionality and broad suitability within the latest version of Bond Adapt, and we are therefore looking forward to exhibiting at The Global Recruiter UK Summit.”
Bond International Software, the global provider of recruitment & human capital management software & services, will be showcasing the latest version of Bond Adapt – the specialist portfolio of recruitment software applications – at UK Recruiter’s Recruitment Directors Networking event on the 9th February 2012 at Royal Bank of Scotland, 250 Bishopsgate, London. Sponsoring the event, Bond demonstrates its commitment to helping those recruiters who are looking to move their businesses to the next level.
The event is entitled, “Selling or Sustaining – the differences of trading for an exit or trading for a lifestyle”, and is ideal for those directors of recruitment consultancies looking to accelerate business growth, anyone thinking of creating a new recruitment company from scratch, or wanting to help enable an MBO or sale of their existing recruitment organisation.
Keynote speakers at the event will be presenting to attendees on how to make a lifestyle business work, put in place the plans necessary to exit their existing business or establish a brand new recruitment business with the end goal of a sale in mind.
Louise Triance, Managing Director, UK Recruiter, comments, “As one of the leading recruitment software providers in the industry, we are delighted that Bond International Software is dedicating support to our Recruitment Directors Networking event. Our events aim to keep attendees up to date with the latest strategic thinking and to allow them to hear firsthand how peers are tackling the current industry challenges.”
James Payne, Head of Business Development, Bond International Software (UK), comments, “We are looking forward to sponsoring the Recruitment Directors Networking event as it provides us with not only a great opportunity to network with industry peers and learn more about how we can develop our own business, but also, the opportunity to raise the profile of Bond Adapt amongst key individuals.”
Payne continues, “Over the years, we have spent a great deal of time and resource in continually updating and developing our flagship product, Bond Adapt, in line with current industry needs. The software is suitable for a wide variety of recruiters – indeed from those looking to move their consultancy to the next level to those wanting to create a new recruitment company from scratch, the flexibility of Bond Adapt allows any recruiter to enhance their business. An event which focuses on these areas of business is therefore the perfect platform for us to showcase the functionality and broad suitability within the latest version of Bond Adapt, and we are therefore looking forward to the opportunities that attending UK Recruiter’s Recruitment Directors Networking event will inevitably bring.”
Following on from a successful client event that Bond recently held on the subject of AWR compliance, AWR software provider Bond International Software sponsored the reception. As an affiliate member of APSCo, and the only software provider to sponsor the event, Bond International Software demonstrated its commitment to helping its clients become and remain AWR compliant.
The APSCo Reception is an annual, high profile event that attracts senior recruitment sector executives to listen to relevant parliamentary guest speakers. This year, with the introduction of the AWR, the 180 recruitment sector executive attendees took the opportunity to quiz Peter Stephens and Jim Dowd MP about the implications that the regulations may have on their recruitment businesses.
Attendees were also invited to participate in a review of a further 200 pieces of employment law, which BIS will be working on over the next few months.
One point of contention raised was why BIS had not decided to introduce a blanket exemption for personal service company contractors, or temporary workers earning more than certain level of pay, and as such could not be considered ‘vulnerable.’ Stephens and Dowd however, alleviated concerns by stressing that whilst a rumoured last minute review of the regulations was unlikely, the Government will be assessing how the AWR is working in practice and make any changes it deems necessary in a few months’ time.
Tim Richards, Managing Director of recruitment agency software specialist Bond International Software, comments, “Recruitment consultants across the UK have been hugely concerned about the implications that the AWR may have on day-to-day tasks, and this isn’t without warrant. The regulations have permanently altered the temporary recruitment landscape and recruiters are therefore desperate for clear guidance as to how to avoid the penalties associated with breaching the regulations, as well as advice on purchasing a suitable AWR software package to assist in the transition.
Events such as the APSCo House of Commons Reception are invaluable to the recruitment industry, as visitors can be offered demonstrations of AWR software, and front line practitioners and legislators can be brought together to discuss the implications of the regulations in fine detail. As well as sponsoring the APSCo House of Commons Reception, Bond shares APSCo’s commitment to educating the industry about how to respond to the regulations. As a recruitment agency software specialist, we have committed to developing AWR software solutions that enable recruiters to become and remain compliant.”
Bond International Software, http://www.bondinternationalsoftware.com the recruitment process software provider, will be the main sponsor at World Leaders Conference held on 13th October at Royal Bank of Scotland, 250 Bishopsgate, London.
As the only staffing solutions software provider to sponsor the conference, Bond demonstrates its commitment to strengthening the recruitment industry by sharing its suite of technology solutions with the market.
Representatives of Bond will be showcasing the recently launched latest version of Bond Adapt – the specialist portfolio of recruitment process applications. New developments such as AWR workflow, integration with a number of industry tools – such as LinkedIn and Drag&Tag – and newly developed features to aid recruiters’ day-to-day activities, will be displayed.
The new version of staffing solutions software, Bond Adapt, available as a Software-as-a-Service or on-site deployment, has a wide selection of new additional features, specifically designed to enhance the software’s practical ease of use and breadth of function, the combination of which has not previously been available in a single recruitment package as standard. Visitors to the REC National Convention are invited to witness first hand the enhanced functionality of the latest developments to Bond Adapt.
Now in its 14th year, the World Leaders Conference is renowned within the industry for being the most influential and thought provoking event of its kind. This year, the Conference will focus on recruitment business development, and offers visitors a chance to meet with and listen to high profile speakers from across the globe, who will offer presentations and advice on to build business, and how to invest in the industry. Exhibitors, such as recruitment process software provider, Bond, will give visitors the opportunity to discover how their day-to-day activities may be improved with a series of recently launched recruitment initiatives.
Tim Richards, Managing Director, Bond International Software (UK), comments, “We are keen to offer our support to recruitment events across the market, but as a world leader in the staffing solutions technology industry, we count The World Leaders in Recruitment Conference as a primary event on our calendar. This year, we are delighted to be the headline sponsor at the Conference, as it provides us with not only a great opportunity to network with industry peers and learn more about how we can develop our own recruitment process software solutions, but also, the opportunity to raise the profile of the latest version of Bond Adapt. We have spent a great deal of time and resource in introducing the new features to Bond Adapt, and as we are committed to continuing the development of our staffing solutions software in line with industry demand, we feel that participation in events of this calibre is fundamental to our success.”
Recruitment Consultant, the UK’s leading magazine to the staffing industry, holds quarterly Law and Taxation breakfast seminars to discuss topical issues and debates. This quarter, the seminar will focus on the forthcoming Agency Workers Regulations, and leading legal tax experts, Osborne Clarke will be on hand to share key information about how business requirements may change as a result of the upcoming legislation.
From the 1st October 2011, the Agency Workers Regulations state that agency workers, once in a consistent role at the same company for 12 weeks, will have the right to receive equal treatment with regards to pay and basic working conditions, as permanent staff directly hired by the organisation. The seminar therefore aims to help visitors to make any vital last minute checks to their business to ensure compliance.
Following on from a successful client event that Bond recently held on the subject of AWR compliance, Bond International Software will be sponsoring Recruitment Consultant’s latest breakfast seminar. Following this event, AWR software specialist Bond will be inviting prospective clients to view exclusive demonstrations of the brand new AWR workflow within the latest version of staffing agency software Bond Adapt.
Jim Tanfield, Editor of Recruitment Consultant, comments, “As of the 1st October, the temporary recruitment landscape will be virtually unrecognisable from anything that recruiters have previously been used to. As such, our seminar stands to educate those who remain in the dark about how to become compliant with the regulations. As the only software provider to sponsor our event, AWR software provider Bond is demonstrating a fierce commitment to providing the market with answers as to how the AWR may affect specific processes, as well as entire business practices.”
Tim Richards, Managing Director of Bond UK, comments, “The Recruitment Conference Law Taxation Series provides us with the ideal platform to demonstrate conclusively to the entire industry that we are leading the market in taking AWR software so seriously and have provided solutions that enable recruiters to become and remain compliant with the legislation.”
Held at One London Wall, London, the breakfast seminar has been organised to ensure recruitment consultancies are fully prepared for the forthcoming Agency Workers Regulations, to be introduced on the 1st October this year.
As the only software provider to sponsor the seminar, Bond International Software is further demonstrating its commitment to helping its clients to become and remain AWR compliant with its AWR software, Bond Adapt.
SmartPhone integrates with Bond Adapt, the specialist portfolio of recruitment software applications, such that when candidates call in, their details are automatically displayed onscreen within the Adapt system.
Due to the fact that SmartPhone increases the number of calls able to be handled by each consultant by 20%, and therefore vastly increases staff productivity, the integration with Bond Adapt has been credited with delivering Morgan Hunt with in excess of £300,000 in additional revenue & efficiency savings in one year alone.
Morgan Hunt provides a range of recruitment, consultancy and headhunting services to leading global firms, SMEs and government bodies. Based in the UK with further offerings in Russia, the company’s 150 recruitment consultants currently manages over 300,000 candidate records, and places on average 450 candidates on a monthly basis.
Since purchasing Bond Adapt from Bond International Software five years ago, Morgan Hunt has been named the “Public Sector Recruiter of the Year” four times, a recognition which places them over 300 public sector recruiters alone. Morgan Hunt focuses on placing candidates in public sector vacancies, as well as those in the construction, finance and private sector health industries and is now successfully diversifying into other private sector areas.
Due to the nature of the vacancies and candidates applying, Morgan Hunt’s recruitment consultants are required to deal with large numbers of non-UK citizens on a daily basis, which has the potential to result in inadvertent poor customer service due to cultural and linguistic barriers.
Gavin Megnauth, Director of Operations at Morgan Hunt, explains, “Our consultants each make approximately 110 calls on a daily basis, trying to place candidates in suitable roles. Investment in SmartPhone and Bond Adapt means each of our recruitment consultants are able to make 20% more calls each day as the time taken for each one is reduced, a feat which has delivered us in excess of £300,000 additional annual revenues & efficiency savings in the last 12 months. This coupled with our enhanced customer service means the integration of SmartPhone with Bond Adapt has been an investment of huge value to us this year.”
Megnauth continues, “In the public sector, many of the candidates for temporary positions are from Eastern Europe, the Asian subcontinent and the African nations. For instance, we deal with a number of healthcare professionals that come from the Asian subcontinent and Africa, whilst a high proportion of Polish and other Eastern European nationals are placed in construction vacancies. To have a candidate calling into our offices to make an enquiry and then having to repeat or spell out their name four times so that the consultant can bring up their details onscreen is not only time-consuming and inefficient, but it also damages the customers’ perception of our service and business as a whole.”
Megnauth continues, “SmartPhone allows our staff to see which caller is calling before they pick up the phone via its ability to monitor and immediately identify all callers by their telephone number. Integration with our existing Bond Adapt software means that when candidates now call our recruitment consultants, their records automatically appear onscreen. This allows the consultant to identify which of their colleagues last dealt with the candidate, the type of vacancies they have been searching for and at what stage of the application process they are – permitting any consultant to handle any inbound enquiry equally effectively, thus further improving customer service. In the currently challenging market, where there are numerous candidates fighting for a handful of jobs, and over 10,000 recruitment companies scrambling to place them, this capability is a tangible differentiator for us for our customer service offerings.”
Whilst this has only been deployed in the UK at present, Morgan Hunt has plans to roll out SmartPhone integration with existing Bond Adapt software to its 40 consultants at its Russian sites in Moscow and St. Petersburg in the near future.
Megnauth concludes, “The fact that our recruitment consultants can now work far quicker and more efficiently has allowed us to make substantial annual savings, a feat which simply would not have been possible without investment in Bond Adapt and SmartPhone.”
For more information about how you can benefit from the functionality in the latest version of Bond Adapt, call us today on 01903 707070.
For more information about Smartphone please go to http://www.footprint-tele.com
For more information about Morgan Hunt please go to http://www.morganhunt.com
Bond International Software, the worldwide recruitment agency software provider today announces its membership to The Association of Professional Staffing Companies (APSCo).
As an affiliate member of APSCo, Bond will receive a range of recruitment system benefits, including extensive networking with industry peers through regular meetings and special interest forums. There will also be the opportunity to discuss recent trends and industry standards with APSCo – with a view to developing and promoting suitable best practice. As such, the membership will give Bond a strong competitive edge over many in the marketplace and will ensure that the Bond portfolio accommodates the changing face of the industry as rapidly and reliably as possible.
Bond has recently announced a number of additions to their staffing agency software portfolio, including dedicated software for the field of executive search with the development of Bond Vantage. Bond Vantage has a set of features that are specifically aimed at all levels and areas within an executive search consultancy, from administration to research and consultancy. This allows vital candidate or corporate intelligence to be accessed in a timely manner, maximising the visibility of the executive search consultancy’s information. Technological enhancements to the Bond Adapt recruitment system are also currently being implemented; which are due for release at the end of 2010. As a direct result of the opportunities that Bond’s APSCo membership will bring, further industry- and vertical-specific products are likely to be developed to accommodate particular needs.
Ann Swain, CEO of APSCo, comments, “Bond were able to show several glowing references for their excellent portfolio and recruitment system service delivery and passed all requirements to evidence that they adhere to a clear code of practice in order to promote professionalism. We are therefore delighted to award them APSCo membership – Bond is a global leader in recruitment software and we are certain that they will be a highly valuable asset to the APSCo association.”
Bond International Software is the leading provider of fully configurable staffing and recruitment agency software and supports over 100,000 staffing professionals in 42 countries. Bond is the recruitment system software of choice for many of the largest staffing companies in the world.
Tim Richards Managing Director of Bond International Software, concludes, “We are delighted to be awarded membership to APSCo. To be part of an influential governing body which has such a far reach throughout the industry is an excellent move for us and affirms our dedication to the interests and needs of the industry. Staffing never stands still, and so we are delighted to be provided with the forum from which to discuss the ways in which our staffing agency software services can help the industry further.”
APSCo is the UK’s leading professional recruitment industry body, and provides a unified powerful voice for the recruitment industry. Current APSCo members include small specialist independents through to publicly quoted companies. APSCo represents the interests of recruitment organisations, provides a recognised stamp of quality assurance for staffing agency software products and affords APSCo members business intelligence, industry solidarity and a clear commercial advantage.
To find out how you can join APSCo, please visit www.apsco.org
For further information about the latest version of Bond Adapt featuring industry leading technical innovations and enhancements, please contact us on 01903 707070 or email us at email@example.com
Excelling in Customer Service
Adapt is still the number one choice for the top recruiters in the world, including Adecco, Kelly Services, Alexander Mann, Manpower and Hays.
Steve Weston, Group Technology Director at Hays, comments, “As a global business, communication between our 5,000 consultants is a key issue. The latest Adapt system, bringing multi-lingual capabilities coupled with scalability through a web-based delivery model, provides a platform that enables business options that historically couldn’t be realised. So the decision to upgrade to the V11 software was an obvious and easy choice for us to make.”
Recently, Phee Farrar Jones, who after a full analysis of Bond’s competitors, re-signed with Adapt V11 this year, extending their 10 year relationship with Bond. Chris Chandler, Managing Director of Phee Farrar Jones, commented, “Bond Adapt V11 was superior in its ability to configure any area of the software or workflow immediately and according to our previous business needs… without Bond Adapt it seemed to us that there would be no competitive edge.”
Bond’s level of customer service is not only recognised by its existing client base, but is also compliant with the Quality Management System standard. Bond is the first recruitment software company in the UK to be accredited with the ISO 9001:2008 standard in customer care, recognition of their excellent service and support skills.
Investing £4.9 million of their annual turnover into research and development, Bond International Software continues to be at the very forefront of innovation. Its flagship product Bond Adapt has a number of features which will be added by December 2010, thus further enhancing its functionality. Examples of recent enhancements include the announcement that the latest version of Bond Adapt recruitment software (V11) is fully browser independent as standard. This technical advance sets Bond aside from its competitors and other systems available, many of which are only available via Internet Explorer. Additionally, 2010 has marked the year that Bond moved into the mobile recruitment space, embracing the principle of iDesking, or the “recruiter on the move” theory, via its iPad and iPhone applications. Such advances continue to keep Bond International Software ahead of market trends and demand.
37 years as the number one recruitment and human capital management software provider proves that age and wisdom really do come hand in hand. With so many years of experience in the bag, it is also entirely refreshing to see that Bond is constantly keeping ahead of the times, and competitors: launching new products, entering new markets and most importantly, succeeding in providing innovative technologies, 2010 has been a year of celebrations for Bond International Software.
With plenty more in the pipeline, the future is looking healthy for the market-leading provider of recruitment and human capital management software.