If you are currently reviewing new recruitment software for your business, you will know there is a wide range of software solutions available in today’s market ranging from ATS, recruitment CRM, recruitment software and RMS, but how do you know which one is right for your business, or are they all the same?
The global recruitment software market is currently growing and expected to reach over US$2 billion by 2018. With hundreds of recruitment software providers in the market all promoting different product offerings and awash with acronyms, it can seem quite overwhelming. So to help you, we are going to provide some assistance to clarify some of the acronyms and types of products in the market today.
ATS (Applicant Tracking System)
An ATS is recruitment software enabling a company to manage their staffing and hiring requirements with the following key functionality.
- Vacancy recording and searching
- Job ad posting and recording of candidate applications
- Record candidate information and interactions, CV and compliance documents
- Candidate searching
- Applicant tracking through the interview to hiring process
- Website and HR software integration
- Reporting
- Generally a browser-based software application
CRM (Customer Relationship Management)
A CRM is software that enables a company to record, track and manage their business relationships (customer/client) with the following key functionality.
- Record prospect and acquired customer information
- Record and track customer interactions
- Record and track customer meetings, demonstrations and presentations
- Customer marketing activity
- Reporting
- Browser-based or on-premise applications
Recruitment CRM, Recruitment Software or RMS (Recruitment Management System)
The above three combine the functionality of an ATS and CRM into one recruitment software solution, with the following key functionality.
- Record prospect and acquired customer information
- Record and track customer interactions
- Record and track customer meetings, demonstrations and presentations
- Customer marketing activity
- Record candidate information and interactions, CV and compliance documents
- Candidate searching
- Vacancy recording and searching
- Job ad posting and recording of candidate applications
- Candidate tracking through the customer interview to placement process
- Website and third software integration
- Reporting
- Browser-based or on-premise applications
Even within the Recruitment CRM, Recruitment Software or RMS market there is a wide range of solutions available based on your recruitment agencies requirements, below is an overview of the markets offering.
Front and Middle Office Solutions
– Temporary recruitment functionality only
– Permanent recruitment functionality only
– Combined permanent and temporary recruitment functionally
Back Office Solutions
– Temporary worker timesheet processing
– Temporary and permanent client invoicing
End-to-End Fully Integrated Solutions
– Combined permanent and temporary recruitment functionally
– Temporary worker timesheet processing
– Temporary and permanent invoicing
So Which Recruitment Software is Right for You?
An ATS is an ideal investment if you are an in-house recruitment function or if you already have a CRM and back office software and not requiring a full integration between all your software solutions. ATS software is generally less expensive than a Recruitment CRM, but so is the functionality to deliver both temporary and/or permanent recruitment services.
A Recruitment CRM is a larger investment, but you get a lot more functionality for your investment. Your staff only have to work within one solution and if you invest in a fully integrated recruitment CRM, you will have comprehensive functionality that facilitates the entire recruitment-to-invoice process for temporary and permanent recruitment. So depending on your budget, what functionality your business requires, and if your business objective is to drive productivity by having all your data and functionality within one solution, the investment will certainly pay off.
To assist you with deciding on the right recruitment software for your business, we suggest you take some time and answer the following questions:
– Why are you looking for new software?
– What does your current software not provide?
– What is essential and non-essential functionality for your new software?
– Do you need your software to support future growth plans?
– What is your budget (upfront and recurring)?
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