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Peoplefluent, a provider of a vendor management system and other talent management software, reported a 29 percent increase in annual recurring revenue excluding the impact of acquisitions. Annual recurring revenue refers to the fees paid for licensing the products but does not include service fees for implementation and other strategic services.
The company’s VMS business recorded strong revenue growth of 53 percent in the third quarter of this year compared to the same quarter a year ago. Full revenue was not disclosed. The company hired more than 100 new employees and expanded its sales force by 12.5 percent in the last six months.