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: SilkRoad Announces Indeed Apply Integration

May 8, 2014

Partnership drives 87K applicants in first two weeks of release

SilkRoad, a leading global provider of cloud-based talent management solutions, today announced the recent rollout of Indeed Apply to customers of SilkRoad OpenHire® applicant tracking system(ATS).  This new integration allows job seekers to easily apply from all mobile devices without sacrificing the data SilkRoad OpenHire customers require.

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Applicants have been keen to use the new technology.   Since its initial rollout just 13 days ago, SilkRoad OpenHire® with Indeed Apply has facilitated 87,000 candidate submittals from Indeed mobile, effectively doubling the number of applicants OpenHire clients receive from Indeed.

“The impact Indeed Apply will have for our customers is significant,” said SilkRoad’s Amber Hyatt, Senior Product Manager, OpenHire.  “Allowing applicants the ability to apply through mobile devices is key to attracting top talent, particularly those in the growing millennial workforce.  This integration lets applicants easily apply while still collecting job specific prescreening questions.  These job specific questions set employers up for success by creating consistency to review candidates against the job’s minimum qualifications, regardless of the candidate’s device.”

This release accompanies the recent announcement of Indeed.com as the top job site and external source for interviews and hires in SilkRoad’s annual report, Top Sources of Hire: The Definitive Guide to the Most Effective Recruiting Sources.

“For the third year in a row, Indeed was found as the top external source of hire for SilkRoad customers,” added Hyatt.  “We are excited to grow our partnership to further provide value for our customers.”

Indeed Apply also adds to the existing Indeed.com integrations, including:

  • Free job distribution to Indeed.com, and
  • Automatic source tracking.

For more information on SilkRoad OpenHire® ATS, please visit http://bit.ly/1pLa77T.

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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 HR 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 2000 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust as your one-stop shop for all your HR technology consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: SilkRoad’s GreenLight® Learning Management System Now Includes KnowledgeAdvisors’ Metrics that Matter® Starter Edition

March 10, 2014

Bundled offering to help companies measure and improve the performance of learning programs

KnowledgeAdvisors today announced that learning industry leader SilkRoad will be bundling the Metrics that Matter® Starter Edition into their GreenLight learning management system (LMS).

The Metrics that Matter® Starter Edition is a simple, affordable system designed to evaluate the effectiveness of learning programs.

“Customers who utilize the SilkRoad and Knowledge Advisors products together will now be able to manage the performance of instructors, improve course content, trend the job impact of courses over time, and compare performance to other organizations in the industry who are delivering similar types of training,” said KnowledgeAdvisors CEO and Founder Kent Barnett.

Metrics that Matter® Starter Edition will also bring GreenLight customers the important context of benchmarks, allowing them to collect, store, process, and report crucial learning data—serving as a crucial quality control mechanism for learning programs.

In addition, the integration of Metrics that Matter® Starter Edition and GreenLight will allow companies to get rid of their paper evaluations and generic online survey tools and move up to a sophisticated learning evaluation tool used by the most successful training organizations in the world.

“With powerful, built-in benchmark data, SilkRoad customers will now be able to compare their talent investments to comparative data points in a visual and actionable manner,” said SilkRoad CEO John Shackleton.

Clients who use both SilkRoad and the full capabilities of Metrics that Matter® have already seen positive results through integration.

“Uncovering the ROI in our training programs has been instrumental in their overall success. Through the GreenLight and Metrics that Matter integration, we’re able to measure and track ROI on any given course to determine what updates should be made or even whether a course should be eliminated based on its impact on business results,” said Toni Thompson, Director of Employee and Organizational Development at SwedishAmerican.

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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 HR 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 16 years in business working on over 2000 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust as your one-stop shop for all your HR technology consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: SilkRoad Announces Life Suite® HR Talent Management Software Release

February 20, 2014

Winter Update Features Enhance Overall Customer Experience

SilkRoad, a leading global provider of cloud-based talent management solutions, announced its winter product release, including enhancements and new features spanning its integrated Life Suite® HR solutions. Updates focused on improving employee productivity and overall experience with the Suite.

“Attracting, developing, and retaining the best talent is the crux of modern HR,” said John Shackleton, President and Chief Executive Officer at SilkRoad. “Our winter enhancements make it easier to deploy and use the Life Suite, simplifying everyday HR processes and giving our customers the information they need to make more informed decisions about their workforce.”

SilkRoad Life Suite Updates from the Quarter:

Talent Acquisition – SilkRoad announced TheLadders as its latest free job distribution partner for its OpenHire® applicant tracking solution, helping customers increase qualified applicants while decreasing job advertising costs.

Talent Development – To cut down on administration and reserve resources for more strategic tasks, SilkRoad GreenLight® learning management solution customers are now able to reuse training events and apply them to new users. In addition, a new feature allows them to apply rules to time-sensitive material, ensuring employees are not assigned outdated content.

SilkRoad has also enhanced GreenLight’s “Time in Course” tracking and reporting, providing companies with deeper data-driven insights into employees’ engagement with a course.

Core HR – Reporting in SilkRoad’s HeartBeat® HRMS solution was improved, allowing HR to better understand and analyze its workforce in real-time. New and improved reports address staffing of multiple worker categories, performance, and compensation.

Talent Portal – SilkRoad’s Point® talent portal received new features and updates, allowing it to serve as a company’s organizational interface. Administrators can now customize the portal, easily updating, removing, or adding new content, and can provide access to different applications and information, including outside links and URLs. Additionally, users can easily find people, groups, relevant content, and files using an enhanced search function.

Corporate News:

New Hires – SilkRoad announced the appointments of Chief Revenue Officer Paul O’Donnell, former President of OpenText Americas, and Rich Buchheim, Senior Vice President, Product Management and Development, who held previous key executive and leadership positions at OpenText, Oracle, Intergraph, and General Electric. The Company also promoted Merri Bonino Chandler to Chief Financial Officer.

Awards – SilkRoad’s Life Suite of integrated HRMS, Talent Acquisition, and Talent Development software was the winner of the Silver Brandon Hall Excellence in Technology Awards for “Best Advance in Creating an Integrated Talent Management Platform,” as well as the winner of a Bronze Best in Biz Award for the “Product Line of the Year.” SilkRoad was also honored as one of the Best Medium-Sized Companies to Work For in 2014 in the Glassdoor Employees’ Choice Award, which relies solely on the input of employees.

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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 HR 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 16 years in business working on over 2000 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust as your one-stop shop for all your HR technology consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: SilkRoad Appoints New Chief Financial Officer

November 5, 2013

SilkRoad, a leading global provider of cloud-based talent management solutions, today announced the appointment of Merri Bonino as Chief Financial Officer.  Bonino succeeds Michael Cullinane, who served as Executive Vice President and Chief Financial Officer since May 2008 until his retirement on September 30, 2013.

“Merri’s extensive financial and operational experience in the technology and services industries is a great asset to SilkRoad,” said John Shackleton, President and Chief Executive Officer of SilkRoad.  “Merri has been a leader in the finance organization for more than two years, was a key participant in our private financings, and her promotion to CFO was an easy choice given her track record and obvious value to the Company.”

Bonino brings to the position a diverse background that includes 17 years of financial and operations experience, having held multiple finance and accounting leadership positions at software and professional services companies that range in size from private startups to publicly held corporations.

Bonino received her B.S. in Accountancy from the University of Illinois, Champaign-Urbana.  She is a Certified Public Accountant (Illinois).

 

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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 HR 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 16 years in business working on over 2000 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust as your one-stop shop for all your HR technology consulting needs.


HRchitect Tech Vendor News: SilkRoad Closes 16 Million in Growth Financing Led by Foundation Capital

August 20, 2013

Strategic Investment Will Fuel Continued Product Innovation to Support Rapid Company Growth

 

SilkRoad, a leading global provider of cloud-based talent management solutions, has raised $16 million in growth financing, bringing total funds raised to $145 million. Investors include Foundation Capital, Intel Capital, Azure Capital Partners, Keating Capital (NASDAQ: KIPO), and Crosslink Ventures.  This new funding will be used to fuel ongoing product innovation across SilkRoad’s Life Suite® Talent Management software to support rapid company growth.

SilkRoad’s Life Suite is a leading cloud-based Talent Management system for small to mid-size businesses (SMB), offering an integrated set of HRMS, Talent Acquisition, and Talent Development applications that enable customers to find, attract, develop, and retain the best talent. The Company continues to capitalize on a $24 billion global mid-market opportunity, with 90 percent of its 1,800 customers reporting fewer than 5,000 employees.  SilkRoad now serves global locations across North America, Europe, and Asia-Pacific.

The human capital management (HCM) market remains a hotbed for enterprise SaaS investment opportunity on the heels of significant industry IPOs and high-profile acquisitions that have been largely aimed at capturing the global market for large enterprise customers. Bersin by Deloitte projects global spending on integrated talent management systems will grow 22 percent to nearly $4 billion in 2013, while IDC forecasts that the worldwide HCM market will reach $11 billion by 2016.  And, more generally, the cloud-computing industry hit the $100 billion milestone in July,growing 70 percent over just 18 months, according to Bessemer Venture Partners.

Company Momentum for SilkRoad:

During the quarter, 130 customers adopted solutions across the entire SilkRoad Life Suite to satisfy their Talent Acquisition, Talent Development, and HRMS needs. The Company also experienced balanced growth across the Suite – 45 percent of contracts were multi-product – and reached additional milestones, including:

  • Deployment of the Life Suite® SuiteApp in partnership with NetSuite, the first end-to-end cloud ERP and talent management solution designed for the mid-market.
  • Numerous industry accolades, including: Aragon Research Hot Vendors in Social Business; HRO Today TekTonic Award for Top HRMS Suite; 2013 AlwaysOn OnDemand 100 Top Private Companies; Stevie® Awards for Sales & Customer Service Bronze Winner for Back Office Customer Service Team of the Year and Customer Service Department of the Year – Computer.

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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 HR 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 16 years in business working on over 2000 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust as your one-stop shop for all your HR technology consulting needs.

Matt Lafata, HRchitect


HRchitect Tech Vendor News: Silkroad Announces Innovative Enhancements to Life Suite

August 2, 2013

SilkRoad, a leading global provider of cloud-based talent management solutions, announced its summer release, including enhancements to its complete suite of integrated HRMS, Talent Acquisition and Talent Development software.

“We continue to innovate across the entire Suite, incrementally introducing new functionality within our talent acquisition, talent development, and talent portal offerings,” said John Shackleton, President and Chief Executive Officer at SilkRoad. “Working closely with our customers, the SilkRoad Life Suite continues to evolve and meet their needs.”

Highlights from the Quarter:

Talent Acquisition – SilkRoad announced Recruit.net as its latest free job distribution partner for its OpenHire® applicant tracking solution, connecting employers with a broader international audience of active and passive job seekers.

SilkRoad’s RedCarpet® employee onboarding solution now includes an updated I-9 Form in accordance with U.S. Citizenship and Immigration Services (USCIS) requirements and is available in four new languages, including Danish, French, Italian, and Swedish.

Talent Development – SilkRoad’s WingSpan® performance management solution now allows employers to link two appraisal cycles to show how an employee is progressing against goals, helping employers augment traditional annual reviews with real-time performance data.

Additionally, SilkRoad expanded its partnership with OpenSesame to offer fifty international courses from training provider Cegos. These are now available to SilkRoad GreenLight® learning management solution customers in Europe and Asia. GreenLight is available in eleven languages, with new additions including, Russian, Portuguese, Italian, and Flemish. Customers also have the ability to schedule, automatically generate, and share reports via email to easily meet compliance learning requirements.

Enterprise Talent Portal – SilkRoad’s Point™ collaboration solution now includes a profile setup wizard and daily magazine notifications, which provide users with highlights covering information and content updates that are the most relevant to them.

HRMS – SilkRoad’s HeartBeat® HRMS solution introduced improved administration capabilities of plan enrollments for benefits administrators.

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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 HR 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 16 years in business working on over 2000 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust as your one-stop shop for all your HR technology consulting needs.

Matt Lafata, HRchitect


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