HRchitect Tech Vendor News: Skillsoft Announces Agreement To Acquire SumTotal Systems

August 22, 2014

DUBLIN & NASHUA, N.H.–(BUSINESS WIRE)–Skillsoft Limited (“Skillsoft”), a pioneer in technology-delivered learning solutions, announced today that its subsidiary, Skillsoft Corporation, has entered into a definitive agreement for the acquisition of SumTotal Systems, LLC from affiliates of Vista Equity Partners (“Vista”), a U.S.-based private equity firm. Terms of the transaction were not disclosed.

Skillsoft has a long history of innovation and delivery of solutions for its customers worldwide, ranging from global enterprises, government, and education to mid-sized and small businesses. The acquisition of SumTotal expands Skillsoft’s solution portfolio and global reach.

SumTotal provides flexible, next-generation human resources (HR) solutions to 3,500 customers and 49 million users worldwide including many of the Fortune 500. SumTotal’s Talent Expansion solution provides personalized learning and HR processes to organizations of all sizes.

“We’re very excited about the opportunity to bring together the experience and strengths of two proven leaders in the cloud-based HR solutions market,” said Skillsoft CEO Chuck Moran. “The integration of these complementary products – Skillsoft’s technology-delivered learning assets and SumTotal’s solutions for learning, talent and workforce management – will allow our customers to break new ground in implementing more comprehensive solutions for managing and expanding their workforce talent.”

“We are pleased to support the management team with such a significant and transformational transaction so soon in our tenure together,” said Frank van den Bosch, Partner at Charterhouse Capital Partners LLP, which acquired Skillsoft in April 2014. “Skillsoft’s acquisition of SumTotal brings together two of the most widely respected and experienced industry players and gives us the ability to present an exciting and compelling opportunity for the combined global customer base.”

“We look forward to joining the Skillsoft family,” said SumTotal CEO Hardeep Gulati. “This acquisition is a pivotal milestone in the 29-year history of SumTotal and a tremendous endorsement of our employees, as well as the differentiated solutions and services that SumTotal provides. I am very excited about the opportunity to provide more value to our customers, who now will benefit from a comprehensive content rich HR solution.”

“It has been our pleasure to work with SumTotal over the past five years to expand their portfolio of solutions and better serve their customers and the HR industry as a whole,” said Brian Sheth, President of Vista Equity Partners. “We are confident that SumTotal and Skillsoft together are well-positioned to deliver tremendous value to customers and we wish the company the very best during its next phase of growth.” As part of the transaction, Vista Equity Partners will maintain a small ownership stake in the combined company.

The closing of this transaction is subject to various conditions, including the expiration of the applicable waiting period under the Hart-Scott-Rodino Act.

Deutsche Bank Securities Inc. acted as exclusive financial advisor to Skillsoft. Committed financing for the transaction is being provided by Barclays, Morgan Stanley, Deutsche Bank and Credit Suisse. Simpson Thacher & Bartlett LLP acted as legal counsel to Skillsoft. Evercore acted as exclusive financial advisor to Vista. Kirkland & Ellis acted as legal counsel to Vista.

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To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. HRchitect is the leader in HCM systems strategic consulting.  As the premier Human Capital Management (HCM) Systems consulting firm, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation/selection, project management and implementation of HR systems, Talent Management Systems, Talent Acquisition Systems, and Workforce Management software. After more than 17 years in business working on over 2100 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust for all of your organization’s HCM technology-related consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: Hireology Raises $10 Million in Series B Funding from Bain Capital Ventures

August 18, 2014

-HR Technology Innovator Accelerates

Growth and Expansion into New Markets-

CHICAGO, IL. (August 12, 2014) – Hireology, the leading provider of employee hiring and selection management technology for multi-location organizations, today announced that it has raised $10M in Series B funding from Bain Capital Ventures.

Named the No. 1 Talent Management Platform in 2014 by HRO Today, Hireology leverages proprietary data and predictive analytics to help managers make the right hiring choice. Their flagship Selection Manager™ platform – a turnkey system that incorporates robust interview and selection tools; access to leading job boards; skills tests and personality assessments; and background screening – is used by over 1,500 customers globally across a variety of industries and business models including franchises, retail networks, dealer/distributor networks, financial services networks, physician groups and multisite manufacturers.

Mike Krupka, Managing Director of Bain Capital Ventures, led the funding on behalf of the firm and will join Hireology’s Board of Directors. Bain Capital Ventures invests in technology and technology-driven companies across all stages of development and has significant experience in HR application companies including Liazon, LinkedIn, SurveyMonkey and Taleo.

“In just a few years, Hireology has grown from a promising start-up into a major player in the HR technology field, providing easy-to-use talent management technology to organizations that previously did everything manually,” said Krupka. “Recognizing the strong growth potential of this company, we are excited to help Hireology expand and continue to bring much-needed innovation to decentralized hiring organizations around the globe.”

The proceeds from this investment will be used to accelerate Hireology’s customer acquisition and for continued investment in the development of proprietary analytics and technology to help field-based organizations transform their hiring processes.

“In a market that has traditionally focused on the administrative side of hiring, Hireology is unique in its mission to deliver better outcomes,” said Adam Robinson, Hireology co-founder and CEO. “Bain Capital Ventures has an unparalleled track record investing in disruptive HR technology. Mike and the BCV team bring their incredible experience and network to Hireology at precisely the right time.”

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To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. HRchitect is the leader in HCM systems strategic consulting.  As the premier Human Capital Management (HCM) Systems consulting firm, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation/selection, project management and implementation of HR systems, Talent Management Systems, Talent Acquisition Systems, and Workforce Management software. After more than 17 years in business working on over 2100 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust for all of your organization’s HCM technology-related consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: Technomedia Brings New Innovation to Talent Management Space with Latest Feature Pack Enhancements

August 15, 2014

Company Streamlines Talent Management Processes with Mobile First Design and New Talent Stream and Smart Assistant Features

NEW YORK and MONTREAL – July 29, 2014Technomedia, a leading provider of Talent Management Solutions, today announced the release of its second feature pack of 2014, following the release of its previous enhancements in February. In this latest update to its industry-leading talent management technology, the company offers employers greater efficiency and streamlined processes to truly enhance the way they align talent with business objectives.

 

As Technomedia continues to expand its presence and become a vendor of choice for organizations around the globe looking to optimize their workforces, the company continually reinvests in its technology to offer the most comprehensive talent management solutions on the market. With the latest enhancements to its award-winning talent management suite, the company provides employers with a streamlined technology platform that greatly improves the way they recruit, engage, develop and reward their employees, while helping them create and maintain successful workplaces.

 

This latest feature pack offers over 65new features and enhancements across all modules of its talent management suite. A few highlights include:

  • Enhanced Mobile Interface: Designed around best practice mobile first concepts, Technomedia’s Engage User Interface offers managers the ability to perform more of their talent management tasks on the mobile devices they use on a daily basis.
  • New Business Intelligence Platform: This powerful new tool sets the bar for robust reporting and analytics, providing users with the insight and business intelligence they need to make smarter, well-informed talent decisions.
  • Talent Stream: This new feature delivers one-click access, whether on a computer or mobile device, to all activities across the Technomedia Talent Management Platform, with familiar interfaces for managers and employees alike.
  • Smart Assistant: The new Smart Assistant serves as a personal assistant, continuously scouring the Talent Stream for any activities that are urgent and alerting the user of important actions that must be taken.
  • Performance Management: The latest performance assessment form enhancements offer a more simplified process and design while also making configuration more flexible and user-friendly.
  • People Reviews: New enhancements allow for enriched talent insight with seamless integration with the Learning and Succession modules.
  • Talent Acquisition: There are a host of new features attached to recruiting with enhanced workflows, onboarding activities, application processes, as well as tools for deeper and more robust candidate connection.

“A critical component of Technomedia’s success depends on our ability to read the market and deliver the solutions that not only meet client demands but exceed their expectations,” said Dwaine Maltais, executive vice president and general manager for U.S. Operations for Technomedia. “Our new feature pack introduces several innovations that not only bring greater efficiencies to the talent management process, but also more deeply engage users, further enabling our clients to make smarter decisions around their talent and ensure a strong ROI.”

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To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. HRchitect is the leader in HCM systems strategic consulting.  As the premier Human Capital Management (HCM) Systems consulting firm, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation/selection, project management and implementation of HR systems, Talent Management Systems, Talent Acquisition Systems, and Workforce Management software. After more than 17 years in business working on over 2100 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust for all of your organization’s HCM technology-related consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: SilkRoad Closes New Round of Growth Funding

August 13, 2014

Slated to Fuel Next Generation Products and Continued Customer Success

CHICAGO, IL – July 8, 2014 – SilkRoad, a leading global provider of end-to-end talent management solutions, announced today it has secured a new round of funding to bring its next generation of cloud-based products to market. Developed in close collaboration with customers, the fall release of SilkRoad’s Life Suite will be the industry’s most complete and integrated talent management suite.

“Our marquis investors continue to express a strong vote of confidence in SilkRoad’s business, and the marketplace overall,” said John Shackleton, President and CEO of SilkRoad. “The next generation of our integrated talent management suite includes unique features that will make it even easier for our customers to build high caliber teams by attracting, developing, and retaining top talent.”

According to IDC, the worldwide human capital management (HCM) market is forecast to reach $15.4 billion in 2018, growing at a CAGR of 8.2%. Much of this growth is being driven by rapid changes that are occurring across the human resource spectrum, from talent acquisition through talent development and core HR management. These innovative offerings are making it easier for businesses of all sizes to solve many of the challenges that traditional software cannot address.

“SilkRoad is in a rapidly growing market with a proven management team that has a track record of building market-leading companies,” said Warren Weiss, General Partner of Foundation Capital, a leading SilkRoad investor.

The company is set to release the next generation of the SilkRoad Life Suite in the fourth quarter of 2014.

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To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. HRchitect is the leader in HCM systems strategic consulting.  As the premier Human Capital Management (HCM) Systems consulting firm, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation/selection, project management and implementation of HR systems, Talent Management Systems, Talent Acquisition Systems, and Workforce Management software. After more than 17 years in business working on over 2100 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust for all of your organization’s HCM technology-related consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: Bombardier Speeds Global Talent Acquisition with Oracle Talent Management Cloud

August 13, 2014

Transportation Manufacturer Streamlines Recruitment across Multiple Divisions and Geographies

Redwood Shores, Calif. – July 14, 2014

News Summary

Bombardier, the world’s only manufacturer of both planes and trains with more than 71,700 employees around the world, is always searching for the best talent to engineer, design, manufacture, and market its innovative aerospace and rail solutions. To help align talent with demand, Bombardier is leveraging Oracle Talent Management Cloud, part of Oracle HCM Cloud, to provide a single, global applicant tracking system (ATS). Since upgrading to the latest version of Oracle Talent Management Cloud for recruiting, Bombardier has reduced recruiting time for technical and highly skilled positions, while increasing the quality and diversity of applicants.

News Facts

To enable a more strategic approach to talent acquisition across its global organization, Bombardier has upgraded to the latest version of Oracle Talent Management Cloud, a component of Oracle HCM Cloud, to propel its recruiting capabilities.
With large, time-sensitive orders for its transportation solutions, fast talent acquisition is critical to the company’s success, particularly for in-demand positions like engineers and project managers.
Facing competition across key geographies, Bombardier needed a more efficient way to source, assess, and acquire internal and external talent across its two divisions, Bombardier Transport and Bombardier Aerospace.
By combining its two applicant tracking systems into a single instance of Oracle Talent Management Cloud for recruiting, complete with advanced reporting and analytics, Bombardier increased the efficiency and effectiveness of its recruiting processes. This has enabled Bombardier to achieve:

o Faster Time to Hire – By automating its recruiting processes with Oracle, Bombardier accelerated the hiring lifecycle for technical and skilled positions, which comprise a majority of its needs.

o Increased Candidate Volume – The new Oracle ATS allows Bombardier to handle twice as much traffic from online applicants without an increase in dedicated IT staff.

o Greater Talent Diversity – With an integrated, global ATS, Bombardier now receives résumés that are more diversified by skill set and geography, enabling the company to scale its operations worldwide and create and staff centers of excellence with top talent.

o Reduced Training Time – By hiring more highly skilled candidates, Bombardier has reduced the amount of training it needs to provide both full-time employees and contractors.

o Consistent Innovation – By adopting the upgrades and enhancements Oracle delivers every six months, Bombardier is always at the cutting edge of recruiting technology, optimizing the experience for its recruiters and candidates.

Bombardier is using the recruiting capabilities of Oracle Talent Management Cloud, an integrated, end-to-end talent management solution that enables organizations to recruit, nurture, and retain top talent. It is designed to help modern HR leaders source and acquire talent, develop talent for critical roles, and promote a high-performance culture and collaborative learning environment.

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To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. HRchitect is the leader in HCM systems strategic consulting.  As the premier Human Capital Management (HCM) Systems consulting firm, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation/selection, project management and implementation of HR systems, Talent Management Systems, Talent Acquisition Systems, and Workforce Management software. After more than 17 years in business working on over 2100 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust for all of your organization’s HCM technology-related consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: Saba Provides Selected Fourth Quarter and Fiscal Year 2014 Financial Metrics

August 13, 2014

Record New Cloud Bookings Drive Over 100% Year-Over-Year Growth in the Fourth Quarter

Redwood Shores, Calif., July 14, 2014 – Saba (OTC Pink: SABA), a global leader in next-generation cloud solutions for talent management, today provided an update on its business momentum and its progress on the restatement of historical financial results.

“Saba ended fiscal year 2014 with very strong bookings growth in the fourth quarter and we plan to build on that momentum in fiscal year 2015,” said Shawn Farshchi, President and CEO, Saba.  “New cloud bookings during the last three quarters of fiscal year 2014 grew 75% over the last three quarters of fiscal year 2013, culminating in record fourth quarter new cloud bookings.  We experienced strong growth in all geographies, in our small and medium sized business markets, and in our behind-the-firewall to cloud migrations.  With an adept talent management sales team, a growing pipeline, and a robust demand environment, we believe we are well positioned to deliver new cloud bookings growth in excess of 30% in fiscal year 2015.”

While the Company is not yet in a position to report detailed financial results for its fourth quarter and fiscal year 2014, ended May 31, 2014, as a result of its pending restatement of certain historical financial results, the Company is providing the following selected financial metrics that are not expected to be impacted by the restatement:

  • New cloud bookings (annual contract value) grew over 100% in the fourth quarter of fiscal year 2014 as compared to the fourth quarter of fiscal year 2013.  Fiscal year 2014 new cloud bookings grew 25% over fiscal year 2013.
  • 47 new customers were added in the fourth quarter for a total of 174 new customers in fiscal year 2014.  New customers in the fourth quarter included Bank of New York Mellon,  Northwestern University, George Washington University, Blue Care, Availity, Alestra Mexico, Sony Mexico, Kyowa Hakko Kirin Co., and Shutterfly.
  • 16 customers signed to migrate their talent solution from behind-the-firewall to Saba Cloud in fiscal year 2014; seven in the fourth quarter.  Customers include Intel, Network Appliance, Allina Health System, American International Group, URS Corporation, Bose, and the City of Houston.
  • Cloud renewal rates were 90% in the fourth quarter and 89% for the full fiscal year 2014.
  • Cash and cash equivalents were $27 million (after payments in the fourth quarter of fiscal year 2014 of approximately $3 million associated with the accounting review and restatement and approximately $1 million associated with non-recurring items) and total debt was $69 million at May 31, 2014.
  • Cash flow from operations was $2 million for the fourth quarter of fiscal year 2014 (excluding approximately $3 million associated with the accounting review and restatement).

With over 21 issued or pending patents, Saba continues to strengthen its leadership as one of the world’s most innovative and unified talent management providers.  Saba introduced its Spring 2014 Release, during the fourth quarter of fiscal year 2014, making Saba Cloud more engaging, intelligent, and extensible.  Key innovations across the Saba Cloud Platform include:

  • Learning@Work — introduced remote video proctoring and multiple levels of approvals with support for serial and parallel approval flows
  • Performance@Work — developed To-Do-List that allows employees and managers to group annual development plans into smaller accomplishable goals with various deadlines
  • Collaboration@Work — created the concept of “rooms” where users can aggregate all their session content and meetings in one place
  • Recruiting@Work — added granular approval workflow and approval reminder notifications
  • Architecture and Foundation — enhanced Marketplace by adding seamless integrations to OpenSesame and HireRight to our diverse ecosystem of third-party application partners that include Workday, Salesforce, Microsoft, Monster, LinkedIn, and TalentBin

As previously announced, we are currently working towards completing the audits of prior periods and fiscal year 2014 and anticipate regaining SEC compliance during the fourth calendar quarter of this year.  We plan to hold an annual meeting of stockholders as soon as practical after regaining compliance with the Company’s SEC filing requirements.

Conference Call
Saba will host a teleconference call and live webcast today, Monday, July 14, 2014, commencing at 5:00 p.m. Eastern Time, to discuss its business momentum and its progress on the restatement of historical financial results.  To join the call, please dial +1.800.230.1092 or +1.612.288.0337.  The access code for the conference call is 329942.  To listen to the live webcast, please go to the Investor Relations page of the Saba web site at http://investor.saba.com and click on the Live Webcast icon.

A replay of the conference call will be available shortly after its conclusion.  The replay dial-in number is +1.800.475.6701 or +1.320.365.3844.  The access code for the conference call replay is 329942.  The replay can also be accessed from the Investor Relations page of the Saba web site at http://investor.saba.com and will be available through August 14, 2014.

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To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. HRchitect is the leader in HCM systems strategic consulting.  As the premier Human Capital Management (HCM) Systems consulting firm, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation/selection, project management and implementation of HR systems, Talent Management Systems, Talent Acquisition Systems, and Workforce Management software. After more than 17 years in business working on over 2100 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust for all of your organization’s HCM technology-related consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: Saba Marketplace Bolsters its Talent Ecosystem with HireRight and OpenSesame

August 13, 2014

Drag-and-Drop Capabilities Integrate Third-Party Talent Sourcing, Employee Screening and Learning Content and Services

REDWOOD SHORES, Calif. – June 25, 2014 – Saba (OTCPink: SABA), a global leader in next-generation cloud solutions for intelligent talent management, today announced Saba Marketplace has welcomed HireRight and OpenSesame to its diverse ecosystem of third-party application partners for the Saba Cloud. First announced at the company’s @Work 2014 annual global user conference, Saba Marketplace seamlessly integrates numerous applications across learning, talent and HRMS into a single interface, simplifying and accelerating talent sourcing, employee development and collaboration. Saba Cloud customers now have access to OpenSesame for training excellence and HireRight for employee screening, in addition to a wide range of leading industry applications including Active Directory, Broadbean, Cisco WebEx, LinkedIn, Microsoft Dynamics, Monster, Salesforce, SimplyHired, TalentBin and Workday.

To better support their business, HR and Talent professionals need to be able to easily navigate and connect the actionable information dots from an ever-expanding number of talent, CRM and enterprise services. With its unique drag and drop functionality, Marketplace enables users to quickly implement and continuously fine-tune their HR hub. Fast and easy access and configuration means that organizations have real-time control and can swiftly respond to shifting business priorities. The latest additions to Saba Marketplace allow for the quick creation of learning programs and acceleration of hiring for key positions.

“Organizations – regardless of size, industry or location – are avidly seeking ways to easily empower employees by keeping pace with the services and technologies available today,” said Hemanth Puttaswamy, CTO and Senior Vice President of Products and Development, Saba. “Saba Marketplace delivers intelligent, multi-faceted applications and services under one hood, closing the costly and time consuming gap between data, geographies and critical business initiatives. With the addition of HireRight and OpenSesame, we continue to push the future of application networking and provide our customers an array of integrated solutions.”

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To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. HRchitect is the leader in HCM systems strategic consulting.  As the premier Human Capital Management (HCM) Systems consulting firm, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation/selection, project management and implementation of HR systems, Talent Management Systems, Talent Acquisition Systems, and Workforce Management software. After more than 17 years in business working on over 2100 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust for all of your organization’s HCM technology-related consulting needs.

Matt Lafata, HRchitect


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