Eastern European Markets
April 3. 2006

Personec opens a payroll centre in Tallinn

Personec is expanding its operations to Estonia. Tallinn is the site of a new office that will offer payroll calculation services for Personec customers.

"Our target is to expand further into the Baltic and Russian markets as they develop, and establishing an office in Tallinn is a good way to prepare for this," says Mats Winkler, CEO for Personec. "We also want to operate as cost-efficient as possible and Tallinn allows us to produce some of our services more reasonably.

"Outsourcing of payroll and personnel management will increase strongly in all Nordic countries in the future, and we need to utilise all available, competent resources to respond to future demands that we believe will rise to new levels as large numbers of people enter retirement. It's already apparent that Finland, Sweden and Norway can't provide us with sufficient professional personnel with the necessary skills. We believe that the Baltic countries can function as a good labour reserve in this respect," explains Mats.

Estonia is a source of people with knowledge of the Finnish and Swedish languages and the educational background necessary for payroll calculation work. "Naturally we have to put significant effort into training the personnel," says Minna Kinnunen, who is the manager responsible for Personec's payroll and personnel management outsourcing services. "Our services now include more operative HR services in addition to traditional payroll calculation."

"We believe that these measures will improve our competitiveness and thus allow us to gain more customers and increase volumes. That would mean more work in the Nordic countries as well, where our personnel will increasingly specialise in specific skills and demanding interpretations as well as the customer service tasks and the above-mentioned, more demanding personnel management services. Our services will by this also broaden to handle more operative HR management in addition to our payroll services" says Minna Kinnunen.

About Personec Group
Personec Group is the largest provider of human resources and financial management solutions, as well as consulting and outsourcing services, in the Nordic region. The Group's business idea is to help its customers streamline their business processes through the use of specialized knowledge and powerful IT systems. Personec Group is owned by TietoEnator and Nordic Capital. The company employs 1300 experts and has a customer base of about 19,000 organizations representing different business areas within both the public and private sectors in Finland, Sweden, Norway and Denmark.

For further information
Mats Winkler, President, Personec Group
+46 8 7498805, +46 705951169

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