RSM has completed the acquisition of Alfa Software and aims to become the Czech leader in payroll and HR solutions
The RSM consulting company is expanding, once again thanks to the acquisition of a software solution for payroll processing and HR management. Together with Alfa Software, RSM has acquired more than 2,000 clients and expanded into new segments. Until now, the company focused on the development of HRIS solutions for medium-sized and large commercial companies in its Nugget software suite, but is now also adding to its portfolio schools, preschools, hospitals and public authorities. This merger contributes to RSM’s ambition to become the strongest player in payroll and HR management systems on the Czech market. The company’s solutions will process payrolls for more than 300,000 Czech employees.
RSM continues to grow at a double-digit rate both domestically and internationally, and during the presentation of its economic results for last year unveiled its plan to double its business by 2030. A major contribution to this goal is the investment in Alfa Software from the town of Klatovy and its products – a payroll and attendance system.
“This summer, Alfa Software celebrated 20 years since its founding, and the results of our work make me and my colleagues proud. Currently our team takes care of 2,200 clients whom we’re helping to successfully manage their payroll and HR agenda. Our company is in very good shape and I’m sure that in the experienced hands of a global brand, it will continue to grow and can look forward to a great future,” said the founder of Alfa Software, Eva Maurerová. “I have agreed with RSM to transfer 100% of my ownership interest, but I will remain part of the team for at least a year to help with a smooth transition under the RSM brand.
According to Monika Marečková, RSM Managing Partner in the Czech Republic, almost the entire Czech market of payroll and HR systems is expected to consolidate. “Transformation is inevitable – many of the payroll software solutions on the market date back to the 1990s and simply cannot keep up with the current needs of companies. Founders are often faced with the decision to either invest tens of millions in modernisation, or sell the business and leave it to others.” This is not RSM’s first purchase in the field of payroll services – four years ago, it invested in the Czech developers of Nugget SW. After the fresh merger between RSM and Alfa Software, the RSM Group’s HR services will employ over 100 people and in 2023 will generate an average turnover of almost CZK 150 million.
“With the merger with Alfa Software and our colleagues from Nugget, we have moved to the forefront of the Czech market in payroll and HR management systems. It’s a very significant step that motivates us to develop further. I believe that our new clients coming from Alfa Software will appreciate the opportunity to use more of our services, and for our current RSM clients, a new payroll or attendance system may be an attractive way to relocate more services under a single roof,” said Monika Marečková, Managing Partner. RSM teams also provide services in mergers and acquisitions, valuation, tax advisory, accounting and technology and are currently relied on by more than 1,230 clients.
In 2024, Alfa Software will rebrand under the wings of RSM. But no other major changes are currently being planned for the company’s employees or clients. Monika Marečková, RSM Managing Partner, notes that the size of the payroll team should make the company an even more attractive employer for those who are considering a career in IT, accounting and consulting services.
