Operational Growth, Product Developments and Customer Wins Fuel Momentum During a Time of Staffing Industry Transformation
PHOENIX, Feb. 22, 2016 /PRNewswire/ -- Today at the Staffing Industry Analysts' Executive Forum North America, erecruit, the leading innovator in enterprise staffing software, VMS and onboarding solutions for large staffing firms and employers, announced its fiscal results for 2015, reporting more than 100% year-over-year revenue increase.
The growth occurred as erecruit made significant software improvements in functionality, scalability and performance, resulting in a record number of wins with the largest staffing companies in North America.
"2015 was focused on making erecruit a world-class software company," said Dave Perotti, Chief Executive Officer, erecruit. "We added seasoned executives to a management team already known for its passion and tenure in the staffing industry. We listened to our customers and made changes to ensure implementations are faster and easier resulting in a record-number of software 'go lives' in Q4. We introduced the industry's most comprehensive platform that integrates the front and middle office – all while making significant improvements in performance, functionality and scalability. This solid momentum is a direct reflection of those changes."
erecruit's growth caught the attention of North Bridge Growth Equity, a venture capital firm providing growth stage funding for businesses in several sectors such as software, communications and infrastructure, who invested in 2014 and then again in 2016. The company is expected to announce an additional round of approximately $10 million funding this quarter.
Key Highlights Included:
- Introduction of major capabilities in the leading enterprise solution designed to meet the needs of the world's largest staffing companies. erecruit's highly integrated suite of front office, onboarding, Vendor Management Solutions (VMS) and middle office modules, make it the most comprehensive platform available providing full support for all major verticals within the staffing industry including Professional, Commercial, Healthcare, MSP and RPO. Key highlights of the latest additions to the platform include:
- The integration of erecruit's front, middle office and VMS modules with its onboarding solution, eStaff365, to streamline the hiring process and to give onboarders an intuitive, self-service experience from any browser or mobile device.
- Advanced shift management and credentialing to reduce the time associated with screening, scheduling, and deploying resources in healthcare and commercial staffing.
- The ability to automate the collection of positions and candidates in erecruit from VMS.
- Significant expansion of erecruit's application scalability testing suite; growth of a strong system architecture and DevOps discipline to streamline code updates and further automate testing; and an upgrade of erecruit's caching technology were all completed as part of the company's commitment to optimizing performance.
"Today the staffing industry is in an era of transformation as it shifts to a model where the vast majority of staffing processes will be automated. In the near future, we predict that staffing companies will run on a single, fully integrated, workflow-driven system. This shift will result in increased margins, improved customer and employee satisfaction for staffing companies while ensuring regulatory compliance," said Danko Fatovic, Vice Chairman and Chief Product Officer, erecruit. "For the last year, erecruit has invested in its products, technology, platform flexibility, people, partner network and business intelligence to support the demands of its clients through this industry shift."
2016 Areas of Focus
As erecruit continues to expand its leadership position in the enterprise staffing applications market, three high-priority areas of investment and focus in its suite of products during 2016 are:
- The "search experience" will reduce time to fill and increase the quality of matches. erecruit is leveraging the latest search technology providing higher quality candidate shortlists, eliminating manual data entry and allowing for better decision making based on financial and operational data.
- erecruit's Business Engine and Platform for Staffing as well as their Smart Forms technology will allow business analysts to configure and control interactions with clients. When these analysts have the power to tailor business processes, staffing firms gain the tools to improve business agility and quality of client interactions.
- "Automation 3.0" will minimize the human intervention necessary to accomplish all tasks within the services supply chain including identifying and matching candidates, filling positions, onboarding candidates and time and labor rules as well as pay and bill processes.
erecruit is the leading innovator in enterprise staffing software, VMS and onboarding solutions for large staffing firms and employers. erecruit uses modern, standards-based technologies to provide a highly scalable and configurable solution that allows today's best firms to put their clients, candidates and vendors at the heart of their businesses. erecruit is headquartered in Boston, MA. To learn more, visit www.erecruit.com. erecruit is a trademark of Erecruit Holdings, LLC.