(1888PressRelease)
November 01, 2008 - In the most thorough analysis to date of employee performance management systems, a new study from industry analyst firm Bersin & Associates reinforces Cornerstone OnDemand’s position as a leading solution provider in the category. The report praises Cornerstone not only for the company’s impressive growth, extensive global capabilities and committed client focus, but also for the exceptional comprehensiveness, configurability and user experience of Cornerstone’s performance module, part of its on-demand integrated learning and talent management software suite.
Bersin & Associates estimates that employee performance management will reach more than $520 million this year and projects a nearly 250 per cent increase in sales by 2011, making it one of the fastest growing segments in the human capital management market.
This growth is due in part to what the study calls ‘the year of globalisation’. The Bersin & Associates study singles out Cornerstone among the few solution providers with deep experience in large-scale global implementations – including support for multiple languages, highly sophisticated configuration and distributed administration.
Cornerstone clients use localised configurations of its performance and succession management products in 141 countries around the globe.
“Cornerstone is one of the fastest-growing talent management software companies in the market,” said Leighanne Levensaler, director of talent management research for Bersin & Associates. “We believe organisations will be particularly impressed with the configurability, global capabilities and user experience of Cornerstone’s 100 per cent on-demand solution.
“With its up-coming fall (autumn) product enhancements, coupled with its integrated learning and development platform, Cornerstone offers customers comprehensive and robust talent management support.”
Of the solution providers evaluated, Cornerstone also was commended for having above-average customer references.
The study notes that: ‘All of the customers we interviewed for this evaluation view Cornerstone as a key partner in their journeys’. It adds that these clients ‘can now point to measurable business impact’ from using Cornerstone’s technology platform to support critical talent initiatives.
“Being a trusted partner of our clients is paramount, not only to ensuring the success of our clients’ implementations, but also to our software’s innovation,” commented Adam Miller, President and CEO of Cornerstone OnDemand. “More of our clients are dealing with globalisation and geographically distributed employees, requiring a fresher and more strategic approach to managing performance and development.
“Using our comprehensive integrated solution, and leveraging the flexibility and scalability of Software-as-a-Service delivery, ensures our clients are maximising their technology investment and positioning themselves for success as their workforce evolves.”
Emphasising Cornerstone’s homegrown integrated talent management solution as a key differentiator from its competitors, the Bersin & Associates study reveals that organisations with integrated talent management suites – including performance management, career development, compensation management and succession planning – cite two to three times the ROI than organisations implementing point solutions.
Additional accolades received by Cornerstone’s software suite in the report include:
Comprehensive Solution Set: Cornerstone is among select providers recognised for having a comprehensive solution in the core areas of performance management, including performance management, goals management, competency management, performance planning, development planning and performance reviews.
Industry-Leading User Experience: The report identifies Cornerstone as an industry leader for its manager and employee user experience. Bersin & Associates cites user experience as a key differentiator for solution providers.
Pure, 100 Percent SaaS Solution: Highlighting Cornerstone’s pure Software-as-a-Service (SaaS) delivery as another key differentiator, the study reveals that SaaS is now the predominant delivery model for performance management systems. More than 62 per cent of organisations with a vendor-provided solution now deploy on-demand solutions, allowing them to enjoy product enhancements without ‘lengthy and expensive’ upgrade processes.
Superior Flexibility: According to Bersin & Associates, Cornerstone’s platform flexibility distinguishes it from other solution providers, pointing out how clients are able to deploy the system without any programming skills or customisation.
Bersin & Associates’ research is published in two parts.
Part 1, ‘The Essential Guide to Performance Management Practices’, delves into the practices of performance management in corporations today, with a specific focus on their business impact. Part 2, ‘The Essential Guide to of Performance Management Systems’, takes a critical look at the rapidly growing market for performance management systems, examines implementation and adoption trends, and compares and contrasts offerings from 25 solution providers.
More than 700 HR, learning and development, and information technology professionals were surveyed in August 2008 for the report. For more information regarding the report, please visit www.bersin.com.
About Cornerstone OnDemand
Cornerstone OnDemand helps organisations empower their people and optimize workforce productivity with a comprehensive suite of integrated talent management solutions for learning, compliance, performance, compensation and succession management, as well as robust reporting and analytics. Cornerstone also provides more than 30,000 pre-integrated training titles. The Company’s multi-tenant, multi-user software-as-a-service (SaaS) architecture provides customers with rapid deployments, minimal IT costs, greater flexibility, proven reliability and a lower total cost of ownership. Cornerstone’s triple-digit growth has been supported by a market-leading customer retention rate. Leading enterprises such as Aon, Bank of the West, Flextronics, Pearson, Randstad, Ticketmaster and Trend Micro count on Cornerstone to help them achieve organizational excellence and competitive advantage. Cornerstone OnDemand is headquartered in Santa Monica, California and has international offices in London, Paris, Munich and Tel Aviv.
For more information, visit www.cornerstoneondemand.co.uk
Cornerstone® and Cornerstone OnDemand® are registered trademarks of Cornerstone OnDemand Inc.
The Magic Quadrant is copyrighted 2008 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Further information from:
Sinead Reynolds-Berti, Cornerstone OnDemand, + 33 (0) 6 28 33 55 66; sberti ( @ ) cornerstoneondemand dot com
Bob Little, Bob Little Press & PR, + 44 (0) 1727 860405; www.boblittlepr.com
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