The pain point for HR professionals over the years has been the process of hiring a candidate manually which is a tedious, time consuming and inaccurate process. By using advance technology and automating the entire hiring process, the startup company helps organizations in accurate hiring and also simplifies talent acquisition process
By Ankush Kumar
Sieving through resumes for a job seemed to be a hectic task for the HR professionals globally as they had to scroll through hundreds of candidate profiles for a particular position. The tedious process that aims to connect the right person to the right job is now being made easier with a next-gen HR technology solution launched by Edge Networks – a Bangalore based HR tech startup.
“The pain point for HROs until years has been the process of hiring a candidate manually which is a tedious, time consuming and inaccurate process. With HR technology, the entire process gets automated which results in accurate hiring basis the job description given along with reduction of hiring cycle time and hiring costs,” explains Pratap.
The company, which was founded in 2012 by Arjun Pratap offers HR-tech solutions to its clients including Wipro, HCL, Dell and Microland. etc. It offers three key solutions; HIREalchemy which is an innovative talent acquisition product that enables the search, rank and recruitment of talent with utmost ease and accuracy. The second is its workforce optimization solution that forms the intelligence layer on top of HR systems and helps effective organization building.
The third is a talent analytics suite that helps in predicting attrition, forecasting resource demand and more – enabling fact-based decision making across the HR value chain.
“EdGE Networks was built on the premise of how one could alleviate search friction for firms when they are hiring, says Pratap. “We started with resumes and job descriptions being the starting point and our ability to build technology to read and match the two like a fantastic hiring manager. This led to building an HR technology platform, backed by artificial intelligence and data science that would enable workforce optimisation and workforce transformation for organisations.”
The HR startup company operates on a B2B model and cater to a wide array of clients. In 2013, the company was funded by the National Skill Development Corporation (NSDC) with a grant and debt besides two angels and the owner putting in the seed capital. It is a product innovation partner with NSDC and aims to support the development of skills for various industries and channel the right people into the right job. Currently, it is exploring the next round of funding.
Talking about the USP of the company to survive the industry’s cut throat competition, Pratap informs, “our unique value proposition to clients is that we use Natural Language Processing (NLP) Algorithms with Data Science and AI based approach to analyse job descriptions and profiles/resumes and provide a scored and stack ranked set of people for the job in question.”
He explains, “this is further bolstered by our ability to do this for an internal workforce and to acquire talent from portals. We do this using advanced technology with minimum human intervention – the disruption we create is the value of time and accuracy, delivered consistently.”
“The total global market for HR tech players is USD 5 billion and we intends to target 10% of this market in the next 5 years,” informs Pratap. The company promises to offer a complete package of HR solutions to MNCs from hiring, to talent management, workforce optimization, attrition modelling, etc.