November 5, 2015 – Boston-headquartered executive search firm BSG Team Ventures has placed Theodore I. Les as chief financial officer for iSystems, LLC, the company behind Evolution HCM.
Mr. Les is a finance executive with experience in growing software-as-a-service (SaaS), technology and service-oriented organizations. For the past 15 years, Mr. Les served as the CFO for technology innovator Cambridge Research & Instrumentation, Inc. (CRi) and agreements based billing market leader MetaTech Corp.
“We are extremely excited to have someone with Ted’s vast experience and proven track record leading SaaS-based organizations join the iSystems team,” said David Meagher, president of iSystems. “The past 12 months marks a tremendous year of growth and development for the company and our lead product, Evolution HCM. Ted is the perfect addition to our executive team to help us accelerate our growth and provide greater value to our licensees and shareholders.”
iSystems, LLC, provides payroll, tax management, analytics and human capital management (HCM) software for platform service providers across the U.S. The company provides market leading products, offering ongoing training programs, supplying marketing and sales support, and ensuring a never-ending commitment to the research and development of new products and services.
The human capital management industry has been growing steadily since the last economic downturn. Mind Commerce, a research and strategic analysis firm, estimates that the HCM software industry will recognize $8.4 billion SaaS revenue by 2020.
Founded as Boston Search Group in 1997 and rebranded in 2008, BSG Team Ventures is an executive search firm focused on identifying senior level leaders. Although BSG serves a wide range of clients including public corporations and not-for-profit organizations, the greatest concentration of BSG’s work is with private equity firms and their portfolio companies to expand or upgrade management, and with venture capital firms and entrepreneurs to build teams for early stage businesses.
BSG, which has offices in Boston, San Francisco, and London, recently placed William Fletcher as CFO for Precise Packaging, a leading manufacturer of complex pressurized spray products. The firm is currently leading CFO searches for Quad Partners as well as Johnny Rockets.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media