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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

August - 2011 - issue > 10 Most Promising Cool Products

HireMantra: A Boon for Recruiters

ST Team
Thursday, August 4, 2011
ST Team
When you look at an average recruiter’s life at office, about 80 percent of the work is hard and thankless labor in just screening out mis-fit profiles from a large pile of applications. Only 20 percent of the time gets spent on high quality recruitment tasks such as selection process and communication. This means 100s of hours lost in doing something that adds no value to recruitment process. What makes matter worse is that after all the screening the recruiters are tired and their effectiveness reduces to a great extent, causing large strategic damage to talent acquisition process of the companies. This is a very severe issue and this is what HireMantra is trying to solve.

HireMantra’s product has is an Artificial Intelligence engine that can screen resumes automatically against a job requirement and thus lets the recruiters to spend more time on high quality recruitment tasks. “Think of it this way, a recruiter usually requires 20-30 minutes time to match a job requirement with a resume. If you receive 1000 resumes on a job opening, it means you require about 2-4 weeks time in just trying to find top 50-100 resumes out of these 1000. Our technology does it for recruiters in no time. It means recruiters' save about 2-4 weeks of time instantly on every job closure, and get to the next leg of the process, communication and selection, faster,” says Subodh Vinchurkar, Founder & Director Business Development, HireMantra.

The worldwide recruitment tool market is a huge one worth more than $3 billion. In this market, the amount spend on screening and sourcing alone is about $2 billion. But most of the products available in the market are focused on process management and do not have much focus on the most difficult part of recruitment cycle, which is intelligence to automatically screen resumes against job requirements. HireMantra has built strong IP to solve this difficult problem and companies can use it alongside any recruitment process automation product. The company has so far successfully addressed the pain point with their product and this success is reflected in the overwhelming response of their clients.

The challenges that the company has faced when they took their product to market is as unique as the product itself. “The value proposition is so strong that some of the customers find it difficult to believe unless they experience it firsthand. This creates necessity of trial phase that delays sales cycle. Secondly, the recruitment departments tend to categorize all products in this space to either Job Boards category or to Process Category. We are in between the two and it takes a bit of educating to communicate the value,” says Vinchurkar about the unique challenges his company is facing in the industry.

The company has a clearly stipulated plan for the coming years. Vinchurkar makes it very clear when he says that the company is working towards reducing sourcing and screening pain of thousands of recruiters worldwide in coming years. Already the company has created a sizable difference in the Indian recruitment industry and is expecting to do the same in the overseas market once their expansion process completes.

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