MrTed Stuns Recruiting Software Market with Breakout 2008 Performance

Cost-cutting companies in 2008 swarmed to recruiting software leader MrTed, resulting in a sharp increase in both sales and profits for the award-winning provider of talent management solutions. For the year, MrTed grew sales by 35%, while profits follow with 30% year-over-year. The dramatic spike in both areas comes amid a rise in global unemployment and a widespread slowdown in the business software market. Despite the sagging economy, many enterprises and government agencies continue to recruit and hire; only now they are looking to do so more cost-effectively than in years past. For these companies that means automating key recruiting processes and deploying software that is inexpensive to deploy as well as to maintain – each of which is an area of strength for MrTed.

Hiring Less Expensively
A pioneer in delivering software-as-a-service talent management solutions and the largest non-U.S. recruiting software vendor, MrTed is expert at helping businesses lower recruiting costs and improve recruiting efficiencies. The companyës MrTedTalentLinkô solution is used by hundreds of large enterprises and numerous Fortune 1000 organizations. And late last year MrTed launched SmartRecruiters, a 100% free applicant tracking system (ATS) for the small and midsized business (SMB) community. MrTedës wide variety of web-based recruiting applications automate the key business processes that drive employee hiring, and its solutions are delivered via the on-demand model, which significantly lowers the cost of hiring for companies and eliminates the need for internal resources to manage the recruiting system.

―The idea that companies are hiring and therefore need recruiting systems seems counterintuitive in a time of layoffs, but progressive enterprises clearly recognize that finding and hiring the best peopleóparticularly in a down economyóis integral to a successful business recovery,‖ said Jerome Ternynck, CEO at MrTed. ―While other talent management vendors tinker with performance and payroll applications of diminishing value, MrTed remains committed to delivering best-of-breed talent acquisitions software that help companies lower recruiting costs so they can grow their businesses. Our record growth in the past year is a strong indicator that MrTed has identified the correct balance between systematic collaboration with users, resource allocation to fuel product innovation, and the regular release of stand-out talent management applications.

Key Growth Areas
Growth was the theme across MrTedës business in 2008. Multiple segments of the company, including its enterprise and channel sales businesses, grew rapidly. At the same time, MrTed expanded its reach into a new market with the introduction of SmartRecruiters, a product designed specifically for U.S. SMBs. Following are a few of the highlights:

Fortune 1000 business on the rise – MrTed continued to grow its base of Fortune 1000 customers last year, as more industry leaders chose MrTedTalentLink to ensure the highest-quality candidate experience and optimum recruiter effectiveness. MrTedës solutions allow enterprise organizations to lower the cost of, rather than cutting back the process of, tracking, assessing and managing the candidates who will meet talent requirements across the business.

More RPOs choose MrTed – Several recruitment process outsourcer (RPO) firms adopted or expanded their use of MrTedTalentLink, based on the strength of its cost/benefit rationalization combined with its power to help RPOs replicate processes across widely varying, customer-defined recruiting continuums. The solution can accommodate the broad array of technologies, methodologies and reporting which are often dictated by RPOës diverse base of client companies. RPOs praise MrTedTalentLinkës ‗one-to-manyë infrastructure for enabling the cost-cutting and economies of scale that deliver financial benefit. Chris Hornsby, business solutions manager at RPO, Ochre House, said: ―We wanted to be in a position to offer our clients a tailored solution underpinned by our in-house consulting, implementation and ongoing support capability. MrTed provides us the ability to offer such solutions.

SMBs take notice – Over 400 SMBs have signed-up to use MrTedës feature-rich, Open SaaS, pay-per-use ATS, SmartRecruiters, since the product was launched in October 2008. Targeted to the six million U.S. businesses with as many as 2,500 employees, SmartRecruiters serves the new generation of web-savvy SMB recruiters with a free, easy-to-use, open architecture. MrTedës SMB users understand the value gap between the practical, efficient SmartRecruiters approach and the licensing and hosting fee burden of the traditional ATS. ―SmartRecruiters is designed to disrupt the ATS market in the same way Google has with many of its free services, said Peter Gold, founder at Hire Strategies, a UK-based a consulting business that helps large employers maximize social media as part of their talent management strategy. ―The launch of SmartRecruiters, and its instant success in the market, demonstrates MrTedës savvy grasp of SMB needs.

―Undoubtedly these are challenging times for businesses, if enterprises ever were going to rationalize their recruitment function, now is the good time to do, and on that subject we are extremely optimistic, noted Ternynck.

―The combination of strong domain expertise, our best-of-breed Talent Acquisition Solution for Enterprise and RPO market and our exciting new solution for the SMB market has MrTed well-positioned to support clients to standardize and automate processes to increase the efficiency and reduce costs‖.