Workstream Inc

Workstream Makes a Statement at HR Tech...

It’s been less than a week since we wrapped-up the Workstream TalentCenter 7.0 (aka Project X)  launch at the HR Tech Conference and I’m just now coming down off the high.  What an amazing event!  In case you missed it -- and, based on the launch event and show-floor traffic, clearly few people did -- Chicago was the site of the 10th Anniversary Human Resource Executive's HR Technology Conference & Exposition.

Talent management and its increasingly significant role in the enterprise was a popular subject throughout the week.  Workstream was leading much of the discussion, with talk centered around the launch of TalentCenter 7.0.  Already, several pundits (InfoWorld, SystematicHR, Bersin & Associates and KnowHR) have commented on what is thought to be the very first Talent Management 2.0 offering.  Among the best sound bites we have heard are:

“Workstream’s 7.0 release is completely reengineered to include a new Web 2.0 UI, and on top of that, it is far more integrated that ever before.  Combined with money and new direction from the top, Workstream now seems well positioned to be a market leader yet again.” – SystematicHR

“What Workstream is doing for talent management will most likely be the direction for any SaaS provider offering a suite of related solutions for a particular industry or product category.” – InfoWorld

“The product looks fantastic, and in fact the dashboard interface is so sexy and appealing to business people that many people crowded around the Workstream booth just to see how it worked.” – Bersin & Associates

“The company continues to deliver on its aggressive schedule of product launches under the leadership of Deepak Gupta, president and CEO.” – KnowHR

Indeed, very high praise from folks who are in-the-know.  Workstream definitely made a statement about industry leadership and vision.  For those who were unable to attend HR Tech, we hope you’ll join us for the upcoming TalentCenter 7.0 webcast.

Project X Unveiled

What had been a closely guarded secret known only to high-level members of the HR community is now officially out-of-the-bag:  Workstream today announced the future of talent management.

The new release – widely regarded as the first-ever Talent Management 2.0 offering – seeks to help businesses succeed in finally making talent management strategic within the enterprise.  For the first time, companies can leverage a unified suite of talent management solutions that include advanced analytics and dashboards, built-in multi-language/multi-currency support, a common reporting engine and user-definable, personalized workspaces – all within a Web 2.0 interface.

Businesses can now assess talent management from a global perspective, via applications that are secure and easy to use, and which enable staff from the CEO on down to view and interact with data that is personalized, configurable and actionable.  The ability to slice-and-dice data across talent management functions will be a distinct advantage to companies when competing for top talent, and the end result will be improved productivity and retention, reduced compliance risk, labor costs and employee attrition.

Impressed were those at the Project X Sneak Peak last night in Chicago who saw for the first time TalentCenter 7.0.  And, among feedback from the analyst community is this gem:

“Other players in the talent management space have received attention recently, but, until seeing your v7 pitch, I had not fully appreciated how much Workstream has grown and the focus you have at the high end of the marketplace,” said Jeff Kaplan, Managing Director of THINKstrategies and the founder of the SaaS Showplace.  “The new BI and analytics capabilities are very timely, and will enhance the value of Workstream’s SaaS solutions.”

Be sure to visit this space later in the week to access the TalentCenter 7.0 podcast and webcast, and for additional details about TalentCenter 7.0, the future of talent management. 

Talent Management 2.0

For the past few months, we’ve talked in this column about the fierce battle companies are waging to find and retain top talent, and the creative ways they are using software to accomplish these goals.  We’ve also discussed the rise of Software as a Service and cost, ease-of-use and deployment/upgrade benefits that accompany this new model of software delivery.  At the intersection of these trends is talent management software, which has become one of the hottest and fastest-growing categories in the software industry.

Nevertheless, until recently, talent management has not been used as the strategic weapon it can and should be for organizations.  That’s all about to change.  Advances in talent management software, including the unification of key functions, cutting-edge analytics and dashboards, a dynamic user interface, and tools that support global deployment, are key tenets of what many in the industry now are referring to as Talent Management 2.0.

 

Talent Management 2.0 is the next generation of talent management software.  Its form is a unified software suite that provides global businesses with detailed views into their most critical employee data.  This is a considerable step forward in the HR market.  Rather than purchasing point solutions that are disconnected from one another, businesses have a single system of HR dashboards driven by a business intelligence engine that integrates employee compensation, performance, development, recruiting, and competencies data.  Talent Management 2.0 software is truly global in nature, which is critical as companies diversify their operations globally.

Talent Management 2.0 is primed to disrupt the software market for three reasons.  First, the sizable labor shortage predicted by the Department of Labor at the end of the decade.  Second, the critical need companies have to focus more carefully and strategically on compliance.  And, third, the success of the Software as a Service model. 

Check back here on Wednesday, October 10 for details about the industry’s very first Talent Management 2.0 offering.  The future is now!