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Himnark CJSC operates in the Armenian software-as-a-service (SaaS) market, providing a cloud-based platform focused on human resources and payroll automation for small and medium-sized enterprises (SMEs). The company was co-founded by Ruben Osipyan, who serves as the Head of Business Development, and Smbat Petrosyan, the Head of Product Development.

The firm's core product, Himnark People, is engineered to streamline administrative functions that are often resource-intensive for smaller businesses. The platform automates the calculation of salaries, taxes, and other state payments, and generates the necessary documentation, such as labor contracts and income tax returns. A key differentiator is its all-in-one nature, which consolidates HR and payroll data into a single system, removing the need for separate spreadsheets and manual record-keeping. The system is designed for rapid deployment, becoming operational immediately upon signup without requiring software installation.

Himnark's business model is subscription-based, with a pay-as-you-go structure tied to the number of active employees a client has. This pricing strategy makes the solution accessible to its target market of SMEs, which previously found similar services to be cost-prohibitive. The company offers different pricing tiers, including a freemium plan for very small teams, and generates revenue through monthly or discounted annual subscriptions.

A significant component of the offering is the Himnark Workplace mobile app. This employee self-service portal allows staff to request vacations, view their salary calculation details, and access a shared team calendar, enhancing transparency and communication between employees and management. The company has secured funding through multiple channels, including two investment rounds from a syndicate of international business angels via the Business Angel Network of Armenia (BANA) and a successful debt capital raise through the issuance of revenue bonds in April 2018. As a graduate of the Armenia Startup Academy, Himnark has established a foothold in the local market, serving clients like Grant Thornton, Onex, and gg. The company's stated long-term strategy involves achieving customer satisfaction and market penetration in Armenia before pursuing international expansion.

Keywords: HR automation Armenia, payroll software, SME business solutions, Himnark People, Ruben Osipyan, Smbat Petrosyan, SaaS Armenia, human resources management, employee self-service portal, automated salary calculation, labor contract management, Business Angel Network of Armenia, BANA investment, Armenia Startup Academy, cloud HR platform, financial technology, HR tech, payroll processing, compliance automation, workforce management