November 30, 2015 – Atlanta-based executive search firm Matteson Partners has formed a partnership with TalentQuest, a provider of cloud-based talent management software and solutions.
Matteson Partners will offer TalentQuest’s cloud-based talent management suite of solutions to its client base. Additionally, Matteson Partners will provide executive search services for TalentQuest.
Cloud-based talent management solutions continue to appear in the headlines. In recent weeks, Talentsoft, a global, privately held leader for cloud-based talent management solutions, completed a funding round of $27 million. The round was led exclusively by Goldman Sachs’ merchant banking division.
The company’s software application suite provides an end-to-end talent management solution, ranging from recruiting to learning, and from compensation to performance management. Its clients include Air France, Arkadin, Bata, Bolloré, Bouygues, Bull, Clarins, Dassault, DB Schenker, Delta Lloyd, EasyCash, Elior, Euromaster, Galeries Lafayette, Geneva Airport, Ingenico, Mazars, McDonald’s, Pernod Ricard, Randstad, Safran, Swarovski, Toys ’R’ Us, Vinci, Ziggo and Zodiac Aerospace.
Financing from the funding round is being used for Talentsoft’s strategic international growth plans. In 2016, the company says it will expand its presence in the U.S. and Singapore, and offer local customer support across Europe, North America and Asia. This investment will further Talentsoft’s objective to triple its revenue to over $100 million by the end of 2018.
The financing will also allow Talentsoft to continue to strengthen its product innovation team, which currently employs more than 100 developers, and make it the largest European research and development center dedicated to a cloud-based human resources solution.
“IDC forecasts high future growth in the market for talent management applications as organizations in Europe and elsewhere are adopting digital business models and new work practices,” said Bo Lykkegaard, associated vice president at IDC. “Furthermore, we see customer demand changing from niche talent applications to broader, SaaS-based talent and human capital management suites.”
Over the past few years, the largest talent management software providers have been getting acquired at a steady pace. In 2012, Oracle acquired Taleo Corporation for $1.9 billion. Together, Oracle and Taleo have been creating a comprehensive cloud offering for organizations to manage their human resource operations and employee careers.
SuccessFactors has also made several high-profile acquisitions throughout the industry before it was eventually acquired by SAP. It purchased Jobs2web, a recruiting marketing platform for $110 million in cash, and Plateau, a learning management system, for $290 million. Following these acquisitions, SuccessFactors was acquired by SAP for $3.4 billion.
Just recently, SAP announced the initial integration of the vendor management system Fieldglass and SuccessFactors. Fieldglass, acquired by SAP in 2014 for more than $1 billion, enables the management of contingent workforce and staffing suppliers. With the integration, organizations will “now be able to upload data from Fieldglass into contingent profiles in SAP SuccessFactors Employee Central, making them visible to everyone in the organization through people searches and organizational charts,” said a company insider. “The integration between SAP’s HCM and services procurement solutions allows companies to break down silos and gain meaningful insights on all of their workers to achieve business goals.”
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media