Company's Development Continues with Impressive Number of Wins, Implementations and Technology Enhancements
BOSTON, Jan. 24, 2017 /PRNewswire/ -- Erecruit, the leading innovator in enterprise staffing software, VMS and onboarding solutions for large staffing firms and employers, announced its second consecutive year of more than 100% year-over-year revenue increases.
In 2016, Erecruit added an impressive number of customers and successfully implemented numerous clients, resulting in 48% growth of its user base.
"The world of enterprise staffing software continues to evolve and overcoming the inefficiencies of traditional hiring methods through automation is paramount for growth by increasing margins, improving the talent acquisition process and increasing customer and employee satisfaction," said Dave Perotti, Chief Executive Officer, Erecruit. "It is clear that Erecruit is well positioned for this industry growth, as it has the heritage, customer base, track record and comprehensive software platform to be the undisputed leader in the top enterprise staffing software companies."
Other 2016 Key Highlights Included:
Continuing its focus on the quality and speed of search, Erecruit launched a beta of its new, highly scalable, state-of-the-art search experience, which has a high-availability design, cross-language thesaurus and full transparency of relevancy scoring. In 2017, this capability will be generally available to all customers.
To continue supporting the needs of the largest Professional, Commercial and Healthcare staffing firms, Erecruit made the following enhancements to its world-class software platform:
- Comprehensive financial management capabilities to its Middle Office, such as an advanced time and labor rules processor, integrated payroll tax geocoding, an extensive set of new rate administration tools, and a message-based framework to simplify integration with major Back Office accounting software packages.
- A broad set of enhancements to enrich its integrated Onboarding offering, including automation of onboarding actions from a host of workflow triggers, the ability to perform onboarding actions collectively and a variety of new compliance tracking tools, which enable highly efficient onboarding and credentialing.
- Extensive new VMS capabilities for Managed Service Providers, including the ability for customer contacts to review invoice history, a simplified position creation process and enablement of a contact to administer centrally. Erecruit's VMS platform exceeded a billion dollars in annual run rate of spend.
- Erecruit invested heavily in performance and scaling to address the data volumes and transaction pacing of the world's largest staffing firms. Major highlights include Erecruit Courier, a high-capacity invoicing framework and Import Data Framework to enable business analysts and non-technical users to rapidly validate and import volumes of transactions, and the acceleration of the mass placement process.
Additionally, Erecruit expanded its employee base to support the continued market demand and company growth. Erecruit's staff additions are focused on key aspects of the business including implementation, customer support and testing – all critical focus areas in 2017 to ensure improved customer satisfaction and success with our products.
According to Global Industry Analysts, the market for recruiting software is expected to reach US $2.7 billion by 2022, driven by the need for effective candidate sourcing and proficient applicant tracking tools especially against the backdrop of changing labor demand and supply based on skillset.
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. To learn more, visit www.erecruit.com. Erecruit is a trademark of Erecruit Holdings, LLC.