- Human resources management company intelliHR (IHR) has launched a new tiered pricing model today
- Under the new model, businesses can personalise their subscription to intelliHR software based on individual needs
- The price of the subscription is adjustable based on factors like the business' number of staff and key performance indicator tracking
- On top of this, customers who subscribed for the "freemium" COVID-19 relief package are enquiring about a full upgrade to intelliHR software
- CEO Rob Bromage says the business it maturing from a start-up phase to global scale-up phase
- IntelliHR shares went unchanged today, trading grey at 7.5 cents each
Human resources management software company intelliHR (IHR) has launched a new tiered pricing model today.
The company specialises in subscription-based software that helps businesses manage their employees and maximise efficiency.
Today, the company has revamped its pricing strategy to allow for different plans to suit individual customer requirements. Rather than paying a flat rate to subscribe for the software, businesses can tailor their subscription to their needs based on factors like number of staff, key performance indicator tracking, and analytics.
IntelliHR CEO Rob Bromage said the new pricing model represents a greater level of sophistication for the business as it enters its next phase of growth.
"The new plans also mean managers and teams will now be able to buy intelliHR as opposed to previous arrangements where it could only be purchased by a business," Rob said.
The new model comes after the company passed its first major milestone of 100 customers. At the end of September 2019, intelliHR had 51 paying customers. Today, the company has 102. On the same token, annual recurring revenue has doubled over this period to $1.8 million.
"The acquisition of the hundredth paying customer is a great achievement," Rob said.
"More importantly though, it signifies that the business is maturing from a start-up phase to a global scale-up phase as we build a large and loyal customer base with a sophisticated and compelling HR software-as-a-service solution," he added.
On top of the customer milestone and new pricing model, intelliHR said it has seen a "significant" uptake in new customers signing up for its "freemium" COVID-19 Essentials HR product, which was launched on March 26.
The package was created to help keep disparate and stood-down staff stay connected and engaged to a company until the coronavirus subsides.
IntelliHR said several COVID-19 Essentials customers are enquiring about upgrading to the full Strategic HR platform.
"It's very clear that our platform has been an essential tool for businesses as they navigate the unprecedented trading circumstances that we are currently experiencing with a platform that helps to manage necessary working from home compliance, assist with performance enablement, and facilitate wellness check-ins," Rob explained.
He added that the company is now seeing "tangible" benefits from the service.
IntelliHR shares went unchanged today, trading grey at 7.5 cents each. The company has a $14.51 million market cap.