The HR software market, pegged at over $14 billion, is in a state of continuous flux as it keeps reinventing itself by adding and discarding capabilities to keep up with the latest in user expectations such as mobile or social, to name but a few. At DCR, we’re constantly focused on the value brought to our customers through our VMS product, Smart Track, and work hard at offering innovative, industry-leading features aimed at exceeding customer needs and expectations. After all, we do have all the required ingredients to achieve this, such as a thorough knowledge of the industry, thought leadership, focus, commitment, a readiness to step out of our comfort zone and a refusal to settle for anything short of the ideal. This may sound like so much marketing hype, unless we prove our claim and that’s exactly what we are setting out to do with this post.
HR software today is not a generalized solution that offers no specific solution to a customer’s problems and needs. While a Vendor Management System (VMS) is in itself a specialized tool dedicated to the management of contingent workers, its modules will still need to be tuned to the talent acquisition trends in the current market. Look at the ruling talent technology trends leading today’s HR software market and see how Smart Track meets all the requirements…and more!
An organization is bound to have existing enterprise-wide HR systems such as applicant tracking systems (ATS), performance management systems (PMs), learning management systems (LMS) and Candidate Relationship Management systems, to name a few. Unless the VMS is flexible enough to allow the synchronization of data across the platforms, whether with highly sophisticated or with outdated legacy systems, the deployment could fail or not provide optimum results.
Smart Track: Integrates with 50+ (and counting) industry-leading applications such as ERP, HRIS and timekeeping plus procurement applications such as SAP, ARIBA, KRONOS and more.
At the last count, mobile device users (at 5.2 billion, of which 1.6 billion were smart devices) have far surpassed users of both laptops at 789 million and desktops at 743 million. So the need for a technology to be available to users on their mobile device is immediate. If a product underestimates or ignores the ubiquity of the mobile device, which unfortunately seems to be the case with at least 75% of HR software teams, they’re leaving many customers highly dissatisfied. It can be safely assumed that most tech-savvy individuals will be using smart phones or tablets, and that they’d be happy to be able to access their VMS’s scheduling or approving features on their phones.
Smart Track: Offers a full-featured mobile version designed for on-the-go management, on both iPhone and Android handheld devices. Smart Track Mobile syncs with the web-based system and has functionality for a single sign-on. It offers the ultimate in access without losing any of the great features or user experience that Smart Track is known for. Our customers love the ability to approve items on-the-go, the time saved and the frustration-free user experience which needs no additional learning to operate it. Suppliers can also log in and check statues, submit timecards and handle all the details, as if they were on a desktop computer.
The Smart Track Mobile app allows you to create and approve requisitions, check applicant status, onboarding/off-boarding, manage workers and approve their timecards, check expense reports and manage other time-sensitive actions, without any shortcuts, limitations or work-arounds.
Hiring decisions today depend on a data-driven approach which enables algorithms to verify/predict a candidate’s fit based on the tests administered during the screening process and other historical data derived from ideal hires. Those who feel that human intervention is mandatory to ensure reliable decisions are also depending on algorithms to filter application and shortlist candidates, saving time and effort on case-by-case vetting and improving candidate experience (and avoiding bad blood for raising a candidate’s expectations through a personal interview and then letting them down).
Smart Track: Machine learning, Natural Language Processing (NLP) and principles of algorithmic hiring are all a part of Smart Track’s latest and unparalleled feature – Smart Track’s Match Index Intelligence. This helps you to easily identify candidates who are the best fit for a position, going beyond simple word search to include complex cognitive intelligence, using artificial intelligence very similar to human cognitive experience and decision-making, but without any of the inadvertent discrimination or subjectivity that humans are prone to. You can see at a glance which candidates score higher with a points-based system.
Tracking performance data helps to isolate poor adherence to processes and the causes for the lack of performance. HR is looking for meaningful hiring metrics and actionable analytics delving deep into the overall process, efficacy and bottom line results.
Smart Track: We offer predictive and prescriptive analytics, that help you predict future needs, outcomes and make strategic business decisions based on our recommendations. Sifting easily through volumes of company data plus historical and current market trends, Smart Track narrows things down to the “right data” you need to make strategic decisions which are in the best interests of your business.
Sourcing candidates has transitioned to social networks from job boards as more candidates are accessing job opportunities on their smart phones and depending on referrals from their networks.
Smart Track: Smart Track will automatically post requisitions to LinkedIn, Facebook, etc. DCR goes the extra mile for candidates and suppliers through its Smart Track xCHANGE, which is a private talent network ecosystem that brings together clients, suppliers, freelancers, alumni, etc., to offer next-generation services in social sourcing, which helps to source talent quickly, by engaging and connecting with them through this dedicated resource.
With a VMS in the mix, many staffing agencies worry if their candidate data is secure and inviolate or not as well as whether it’s thrown open for everyone in the ecosystem, including their competitors.
Smart Track: We pull data from numerous sources including top career sites and the company’s own hiring-related historical data, but keeps each client’s data in private silos. Hiring managers only see matches that are made based on external market data and their own historical data and behavior. Smart Track’s multi-tenant system puts a brick wall between different clients’ data sets – keeping each one independent, and precluding the possibility of two clients’ data getting mixed with each other’s.
Gamification is the latest technology trend that applies game mechanics and game design techniques to engage and motivate people to achieve goals. Gamification helps solve adoption, inclusion and engagement issues. It helps with change management issues that are often part of implementing a new technology.
Smart Track: Smart Track is the ONLY VMS that uses gamification to encourage recruiters to fill out complete job descriptions and provide more detail (which ultimately leads to better candidate fit), and to encourage applicants to fill out profiles more completely, forward jobs to friends and complete other desired activities. Through gamification, Smart Track also achieves an improved candidate experience and higher engagement as well as relationship-building and nurturing of potential hires, which lead to faster and more cost-efficient sourcing.
In conclusion, it must be said that innovation is (and will stay) the lifeblood of the strong technical team behind Smart Track. And as you can see, Smart Track more than measures up.
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