BURNING GLASS TECHNOLOGIES INTRODUCES THE APERTURE™ SERVICE-BASED RESUME PROCESSING AND SCREENING PLATFORM

Full Functionality Solution with No Integration Hassles

FOR IMMEDIATE RELEASE

San Diego, CA (July 15, 2002)

Burning Glass Technologies announced today the launch of its revolutionary APERTURE™ platform, providing employers and recruiters alike with new, easier modes of access to the company's state-of-the-art resume processing, screening, and search capabilities.

Rather than requiring companies to make a major software investment, Burning Glass has now made its technologies available on a service basis. Now Human Resources professionals can enjoy all of the advantages of the most accurate data extraction tools in the industry without leaving their email inbox. There's no complex software installation, no hardware requirements, and no network considerations. Even more significantly, APERTURE™ requires no license and no upfront payment. Users pay as they go at highly competitive per-resume rates.

"APERTURE™ fills a real need in the marketplace," said Krishna Gopinathan, Chief Executive Officer of Burning Glass. "Employers and recruiters are more swamped than ever with resumes. They're spending huge amounts of time and money entering applicant data and going through preliminary screening activities. Our colleagues throughout the industry have been telling us loud and clear that they need a better way. APERTURE™ delivers the full power of automated applicant processing rapidly and in a way that's affordable and easy to use."

Automated Processing of Inbound Applications

APERTURE™ delivers dramatic savings by eliminating the costs of data entry and preliminary candidate screening. APERTURE™ can process over 100 different formats of resumes, using its advanced artificial intelligence technology to find and extract all relevant information: Name, Address, Contact Information, Previous Jobs, Skills, Education, etc. The resumes are returned to the user in a consistent order and format along with a "quick look" summary and an HR-XML translation to make it easy to import applicant data into an Applicant Tracking System (ATS).

Unlike rules-based systems or keyword search tools, APERTURE™ uses context, sequence, and related terms to read resumes with industry-leading accuracy rates of over 99%. Because APERTURE™ deploys leading-edge technologies to process most resumes automatically, it eliminates the delays caused by application processing, enabling the process to move forward faster. The majority of applications are processed within 30 minutes. Burning Glass guarantees the rest by the next business morning.

APERTURE™ is a full-featured solution. Users simply enter a job description in plain English and provide an email address or website for candidates to submit their applications. APERTURE™ does the rest, from sending customized acknowledgement emails to the candidates to providing detailed status reports. In addition, unlike forms based systems, APERTURE™ does not require manual entry by applicants or staff. Applicants can simply submit resumes and be on their way, boosting resume acquisition rates.

The Most Powerful Search Capability Available

APERTURE™ rapidly searches large databases, finding and ranking the applicants who best match a particular job. It uses neural-network predictive technologies to zero in on the candidates most compatible with a job description. What is more, APERTURE™ uses predictive techniques to prioritize the skills and attributes you specify in the job description. In fact, it is up to 4.5 times more likely to find the right candidate for the job than competing tools.

In addition to industry-leading predictive modeling technologies, APERTURE™ enhances the quality of a match through close examination of search-term context. For example, users can limit their search to only those candidates who have used a certain skill in their last job or in the past three years. APERTURE™ even goes beyond the job description, looking for additional skills that may be pertinent to the job based on its extensive bank of past experience.

Intelligent Applicant Screening

APERTURE™ also screens resumes based on how well they fit the job description and the parameters users set (e.g. distance to job, years of experience, etc.). APERTURE™ deploys its leading edge, artificial intelligence-based Predictive Matching™ engine to measure how suitable each candidate is for the position. The patented Predictive Matching™ technology is built from data contained in Burning Glass' unique repository of historical career movements extracted from millions of hiring decisions. Our technology has distilled the complex behavioral patterns in these resumes and uses those patterns to build predictive models for employment.

The output is a ranked list of applications enabling human resources professionals to focus their resources on the most promising candidates without wasting time and screening costs on everyone else. In order to get the most mileage out of every application, APERTURE™ also checks the application against other open positions in the company.

"What's truly remarkable about APERTURE™ is that it is not only the most powerful and most accurate tool in the industry, but also the easiest to use," said Gopinathan. "APERTURE™ delivers real savings and simultaneously makes it so much easier to find the very best candidates for each job. With APERTURE™, recruiting organizations can move from processing to hiring. And that's what it is all about."

About Burning Glass Technologies

Burning Glass develops the world's most advanced and effective solutions for resume processing, screening, and search. Quickly deployed and scalable, Burning Glass applications have demonstrated an 80% reduction in cost to screen resumes and are up to 4.5 times more likely to find the right candidate for the job than existing solutions - resulting in faster time-to-hire and higher quality matches. Built atop pioneering statistical natural language processing technology, Burning Glass data extraction tools operate at the highest level of accuracy and detail in the industry. Burning Glass controls several patents in the fields of data extraction, information interpretation, behavioral profile generation, entity matching, and machine learning. Since 1999, Burning Glass solutions have been used by major employers, recruiters, and job boards and are embedded in the technologies of leading Applicant Tracking Systems.

Back