- Optimising the platform for both hirers and talent has led to a substantial increase in application rates per job.
- In May we completed a licensing deal with Readify and a partnership with Broadbean.
- Our core value proposition of bringing behavioural science to tech recruitment is resonating with enterprise clients. We have a strong pipeline of partnerships and sales deals.
Transcript of the May update
Please note that this transcript has been edited slightly for readability.
Welcome shareholders to the May 2017 Gooroo Ventures shareholder update. There are four points I'd like to cover off with you today:
- First, some of the key activities we've been working on over the last month.
- Second, the enterprise deals and the discussions we've been having, and I'd like to link that back to our core value proposition.
- Three, how this core value proposition drives competitive advantage for Gooroo.
- And four, what we're focused on over the next month.
Achievements in May
So let me cover off what's been happening over the last month.
As I've mentioned in previous updates, we've been working on optimising our platform for both hirers and for talent. Our application rates per job (and applicant acceptance rates) have increased dramatically which is driving more value for our customers.
Also, we began our commercial sales program and released an update about a licensing deal we completed with Readify.
This deal further validates the platform and the infrastructure that Gooroo is sitting on. Readify receives thousands of applications for its jobs every year. The Gooroo platform is going to become a key player in helping Readify improve its efficiency and drive greater quality of talent into its business.
Finally this last month we've completed an integration and partnership with Broadbean, a leading job posting platform. This integration gives us great sales leverage as it allows us to plug and play with most enterprise systems out there that our clients are using.
Core value proposition
So let me recap on the time, effort and money we've put into R&D to get us to where we are today. We've spent four years and over $5 million on those four pillars that you see up on the screen in front of you.
It's these four pillars that offer Gooroo an unmatched capability for an organisation to predict the contribution of a future hire in a role, and it's for this reason enterprises are engaging with Gooroo.
So when I talk about engaging with Gooroo we do that in these three modules: match, assess and grow:
- Match: Identifying and sourcing the right fit for your organisation.
- Assess: Screening and ranking applicants for the role to ensure greatest contribution.
- Grow: Preparing your business to get the right people into the right roles to drive competitive advantage.
And if you'd like to go in deeper, this presentation is available for download here.
So how does this tie back to our competitive advantage? Gooroo's advanced behavioural science engine and focus on the tech talent marketplace gives us an unrivalled ability to be able to connect an individual to a role and to an organisation.
We do this because we want to predict performance and contribution to that business. Over time this infrastructure can be licensed to those that work in the tech industry, but also others that play right across the HR tech ecosystem.
The next month
Finally, let me share with you what we're focused on over this next month. Our core value proposition which sits around our applied behavioural science engine, which allows organisations to identify and also retain talent is really resonating in market.
So, as a result, our pipeline has never been stronger, our team is focused on securing those deals and delivering value to our shareholders.
Thanks, investors and we'll see you next month.
ASX announcements mentioned in this update:
- Gooroo integrates with leading global recruitment platform, Broadbean
- Leading IT Services firm, Readify signs deal with Gooroo
Investor & media enquiries
Mr Peter Nesveda
Corporate Affairs & International Investor Relations, Intuitive Pty Ltd
Tel: +61 3 9504 8420, Mob: +61 (0) 412 357 375
Email: [email protected]