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| THESKILLSMARKET
ENHANCES THE iPROFILE WITH BURNING GLASS
PARSING TECHNOLOGY
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iProfile
to Offer Richer Data, Faster User Experience
FOR
IMMEDIATE RELEASE
San
Diego, CA (June 1, 2004)
TheSkillsMarket,
the inventors of the iProfile, the industry
standard format for the online CV, and Burning
Glass Technologies, the leading provider
of resume processing, screening, and search
automation solutions, announced today the
selection of Burning Glass's advanced artificial
intelligence parsing engine to streamline
data collection and to add new dimensionality
to the iProfile's portrait of candidate
skills and experiences.
"As
the iProfile becomes increasingly ubiquitous
across a range of industries, it is important
to us to make it simple and efficient for
professionals to create their iProfile,"
said Daniel Elkins, CEO of TheSkillsMarket.
"We undertook an extensive evaluation of
several technologies but the Burning Glass
solutions really stood apart."
"TheSkillsMarket
has achieved tremendous penetration by delivering
robust data to recruiters and by simplifying
CV creation and management for professionals,"
said Matthew Sigelman, CEO of Burning Glass
Technologies. "We are excited to be putting
our technology to work in making the iProfile
even richer still."
Through
its partnership with Burning Glass, TheSkillsMarket
will make it easier than ever for professionals
to create and maintain their iProfile. Users
will be able to upload their CV in a variety
of major document formats, including MS
Word, HTML, RTF, plain text, and PDF. Burning
Glass's leading-edge ResumeXRay™ parsing
tool will then capture automatically the
widest range of CV facts with the highest
levels of accuracy in the industry. These
facts will then be used to pre-populate
the iProfile so that users spend less time
on form completion.
Recruiters
will also benefit from this new level of
iProfile functionality. Because Burning
Glass ResumeXRay™ extracts such a wealth
of CV data, iProfile will soon include information
like the duration and context of the candidate's
skills. Unlike other tools, Burning Glass
captures far more than just contact information,
extracting employers, positions, start and
end dates, job descriptions, skills used,
education, and certifications, among dozens
of others.
In
order to provide TheSkillsMarket and other
UK customers with the very highest levels
of accuracy, Burning Glass has specially
built versions of its parsing models exclusively
for British and Irish markets. As a result,
the underlying engine is able to recognize
and understand the specific employment patterns
and lexicon of candidates in the UK and
Ireland.
Other
systems rely on rules-based fact extraction.
This limits their ability to process CV's
in unusual formats or to identify and understand
candidate skills. Burning Glass ResumeXRay™
deploys neural network technology to improve
the precision of parsing. The Predictive
Matching™ engine is built from data contained
in Burning Glass' unique repository of historical
career data extracted from millions of hiring
decisions. As a result, the engine learns
over time as it is exposed to new data and
experiences.
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, recruiting agencies,
applicant tracking systems, and job boards
throughout North America, Europe, Asia,
and Australia.
About
TheSkillsMarket
TheSkillsMarket
is the inventor of the industry standard
format for "the online CV", the iProfile,
and is the company responsible for making
the recruitment industry iProfile Compatible.
Since
the launch of the iProfile at the end of
2001, more than 85% of UK IT professionals
now own an iProfile and over 30% of UK IT
recruitment companies are now compatible
with this standard. TheSkillsMarket has
also partnered with over 70% of the software
providers to UK recruitment agencies and
approximately 25% of the rest of the world.
The
iProfile allows recruitment agencies to
eliminate their manual CV processing, keep
their candidate database up-to-date and
reduce their short-listing time by up to
50%. It allows candidates to define their
skills, experiences and job requirements
in much greater detail so that agencies
can more accurately match them to jobs and
it also provides them with a simple way
to keep an agency up-to-date with their
job status and availability.
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