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- Addition of Industry's Leading Offboarding, Business Analytics and Workforce Planning Software Creates Deepest and Broadest Talent Management Suite -
JACKSONVILLE, Fla. (January 16, 2007)— Vurv (formerly Recruitmax), a global leader in technology and services for building great workforces, today announced that it has acquired People Business Network (PBN), the leading provider of on-demand workforce optimization solutions that help Fortune 500 companies proactively monitor workforce transitions, analyze workforce metrics, and automate workforce deployment processes.
The acquisition will add two key components to the Vurv talent management suite: offboarding (employee separation management) and human capital analytics and dashboards. The acquisition of PBN also extends Vurv's integration, compliance and workforce planning capabilities.
By adding the industry's leading solution to address employee separation, redeployment and retention, Vurv will enable organizations to effectively handle offboarding and redeployment, including automated generation and tracking of critical separation and redeployment data. Specifically, this offering will add significant value to organizations considering large workforce related events such as mergers and acquisitions, outsourcing, re-organization, and reductions-in-force, and provide the ability to manage the enormous financial and compliance risks that are typical of these events.
Vurv will also incorporate PBN's unique workforce analytics solution to provide real-time monitoring of key performance measures, in dashboard format, which enables senior executives and HR leaders to track financial, compliance and workforce metrics and provide an integrated and holistic view of the entire employee lifecycle from recruiting to separation. This solution will allow organizations to make rapid, informed decisions about their workforce, while ensuring compliance with various regulatory requirements and financial transparency. In addition to open interfaces with ERP, payroll, benefits and Vurv's talent management modules, the solution supports transaction connectivity with other business applications, enabling senior leaders the ability to track KPI's and performance thresholds with real-time alerts. The solution is 100% configurable and delivered on-demand with pre-defined "plug n' play" workforce solution frameworks for performing a variety of workforce analysis such as span-of-control, retirement planning, diversity planning and workforce hiring and reduction cost analysis.
In addition to these unique and powerful offerings, Vurv will acquire PBN's impressive list of blue-chip clients, including ten Fortune 500 organizations. PBN's strategic and differentiated offerings have enabled PBN to achieve annual revenue growth of greater than 50% and a 100% customer renewal rate. This is a clear indicator of the strength of PBN's value proposition, which helped one client realize more than $80 million in direct and indirect cost savings during a single realignment initiative.
"PBN is an amazing story," said Derek Mercer, founder and CEO of Vurv. "Decision support and employee separation management, along with workforce analytics, are perhaps the most untapped areas in talent management. U.S. companies will spend over $15 Billion this year alone on employee separations with little insight into the impact of their decisions. Unlike most solutions in the market, our combined offerings will help customers tie their talent management initiatives to quantifiable business results - the value speaks for itself."
"We are extremely energized about what we will accomplish together," said Chirag Patel, President and CEO of People Business Network. "The combined companies will deliver the industry's most comprehensive end-to-end suite of talent management offerings that will bring together recruiting, compensation, performance and separation processes with integrated analytics that deliver total efficiency and total visibility into the single largest expense and most strategic asset - the workforce. Vurv's product leadership, global infrastructure, seasoned management team, and our shared vision made them a perfect fit and we are unified in our pursuit to help our clients differentiate themselves through their people."
For more information on this acquisition and these unique new offerings, please visit: http://www.vurv.com/pbn.
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