The Human Resources Suite, Woffu
, specialized in the efficient management of vacations, absences, the presence of employees and document management, is due to close out 2017 with a turnover of 375,000 euros. This figure represents a growth of 400% compared to last year.
The company forecasts that it will double its results in 2018 thanks to the consolidation of international expansion, shift management, sales channel development, and technology investment in its platform.
Break-even and consolidation of internationalization
The technology is expected to reach the “break-even” around Easter, strengthen its presence in Argentina and Mexico and continue with its international strategy. In addition, by 2018 the development of the distributors’ channel will begin, which should give it a new boost in the market.
App for online registration with geolocation
For next year, the startup is going to focus, even more, on the technological improvement of the app, in order to meet the needs of business coordination with templates that are not in front of a PC. Thus, improvements will be introduced in the online signing, via the web, app or biometric devices, with geolocation.
New round of financing
Similarly, in 2018 the company expects to close a financing round of 1,000,000 euros, with the aim of carrying out the growth plans. Several potential investors have been contacted and progress is being made with most of them. Woffu has just received its second ENISA participative loan of € 75,000, which is expected to revert to breakeven by the end of the first quarter of 2018. The platform has a total of 4,000 registered companies worldwide and more than 21,000 active users. In the same way, it has excellent retention metrics, for example, its churn (abandonment rate) is 0.2%.
HR Suite in the cloud
Woffu offers a complete “on the cloud” HR Suite, through which it is possible to manage vacations and absences of employees, the planning of work shifts, the time control and the distribution of Human Resources documents among the team. The use of the platform allows a saving of up to 80% of management time in these tasks.