Stuart Gentle Publisher at Onrec

3rd Generation launches - 07/2000

New Site Aims At Contract Accountancy, a third generation job site, aimed initially at the contract accountancy market, has launched. The site initially will focus on itís accountancy core, but will eventually branch out to other professional services. Following the successful model that has pioneered in the UK, we2 will offer a full service solution ñ outsourcing the employment process, not just the recruitment activity.

we2 will facilitate anonymous negotiation between clients and candidates via email and SMS messages and once a contract is agreed, provide back office administration services such as payroll and timesheets. we2 will apply a simple 10% commission pricing structure across the board.
Founder Jeremy Price, an experienced contract chartered accountant, has acquired funding from what is believed to be the largest ever syndicate of business angles, with 27 members, which was put together by the Venture Capital Report. First round funding placed 750,00 with the company, which predicts break even by November 2000.

Price commented, ìGiven the technology available, it seems ridiculous that recruitment agencies continue to make excessive margins. Businesses know the type of people that they want to hire and simply need access to them. A year from now no one will believe that they once paid 30% commissionî.