SaaS - Driving the Fourth Industrial Revolution
Industry 4.0, or the fourth industrial revolution, refers to the digital transformation of industry through connected systems, applications and the gathering and harnessing of data.
Software-as-a-Service (SaaS), cloud, machine learning and data analytics are being integrated into businesses of all sizes and the principle of creating intelligent networks along the value chain that are able to control one another autonomously and provide valuable data is making inroads in the recruitment industry. This is transforming hiring practices and creating new business models in the process.
Innovation through Cloud Technology
Cloud technology has for a long time acted as the critical enabler that provides the means for businesses to innovate through technology. Today’s advances would not be possible without the developments in cloud technology that give businesses the opportunity to transform processes and operate more efficiently.
Recruitment has a long history with cloud technology. When the financial crash of 2007-2008 hit and consultants found themselves out of a job, the growing influence of cloud provided a lifeline for startups to thrive.
The cloud has become a technological enabler for startups and SMEs since its inception. Delivering innovation, agility, speed and the customisation required to generate competitive advantage, the cloud has supported innovative companies like Volcanic in levelling the playing field and allowing businesses of all sizes to compete. Without the burden of legacy IT systems, recruitment startups and SMEs are able to integrate and harness these new technologies.
SaaS Continues to Grow
SaaS is thriving because of its ability to integrate with third-party solutions, establishing it as an essential component in an Industry 4.0 connected world.
Powered by the cloud, SaaS allows businesses of all sizes to reap the benefits of greater convenience, in turn helping to expand the corporate ecosystem. Subscription-based software models have been game-changing for some time in the recruitment industry, with continuously updated, future-proofed new technology available to businesses both large and small. Services like RPO and end-to-end solutions are up for grabs by smaller companies who are agile enough to take advantage of the opportunities that SaaS models can bring.
Harnessing the Power Data
The road to a digital economy is paved by data and powered by technology. If there’s one thing that separates Industry 4.0 from any period that precedes it, it’s data analytics. While analytics isn’t a new concept, the way data is understood and utilised is starting to evolve from the initial discovery phase towards gaining insights and taking action.
Recruiters must look at which technology can help them gain significant findings from data analytics. Gathering, understanding and mapping data are essential for today’s recruitment businesses to be able to identify trends - at a highly granular level. Data can be used to source and place candidates with increased accuracy and the talent shortage is making this new discipline essential.
Using the right data, consistently reported, to anticipate the next wave of hires and populate the talent pipeline before the need becomes real will allow recruiters to offer candidates a personalised journey and give clients true added-value consultancy.
Integration is Key
Being able to switch different softwares in and out, seamlessly, with minimal business interruption will bring new agility to recruitment businesses. There’s a dependency on greater collaboration between all parties involved in generating an automatic flow of information from one platform to another. Integration is a critical success factor.
Unquestionably, technology talent shortages are front of mind for those recruiters with hands-on experience of how this can act as a critical blocker to businesses looking to achieve their true digital potential. Transitioning to Industry 4.0 requires the introduction of new roles, whether that’s data scientists who can interpret, present and use data to drive the business forward or digital innovation managers who oversee all aspects of digital.
Putting your Website at the Heart of your Business
Process automation brought about by Industry 4.0 is the critical factor in driving business growth. Recruitment businesses that put their website at the front and centre of their strategy, ensure integration across all systems and build a data-literate workforce who understands the business intelligence that interpreting data delivers are set for success in this new landscape.
Rob Wilde, CEO
0161 217 1515