Growth Deepens Cornerstone OnDemand's Vertical Reach Within Financial Services, Healthcare, High Tech and Staffing
Santa Monica, CA, December 20, 2005 - Cornerstone OnDemand, a leading provider of integrated on-demand enterprise software solutions for human capital management (HCM), today announced 100% growth in its client base for the sixth consecutive year. The company's growth in 2005 is attributed to the increased demand for integrated, web-based HCM technology. As more and more organizations look to deploy technology solutions that align and optimize the workforce, fully-integrated, on-demand, software applications like Cornerstone OnDemand, become a critical component of any business' HCM strategy.
"Many organizations today already have a learning management system in place," said Josh Bersin, President and Co-Founder, Bersin and Associates. "As the results of our study The Convergence of Learning and Performance Management suggest, the top priorities in 2005 for the organizations surveyed indicate, a need to align technology with their business strategies and to increase program effectiveness. These goals cannot be met without fully-integrated learning and performance management systems, or what we are calling Talent Management."
Over the past year, Cornerstone OnDemand has strengthened its vertical coverage within the healthcare, staffing, high-tech, business services, and financial industry verticals. The addition of clients such as Pitney Bowes, Scottrade, Data Return, Supplemental Heath Care, Maxim Healthcare Services, and Careerbuilder.com, Cornerstone has strengthened its expertise in mapping its product and service offerings for any industry vertical.
"The Cornerstone OnDemand solution is well positioned to meet the demands of the market as well as the increasing trend of consolidation in the HCM industry," said Adam Miller, President and CEO, Cornerstone OnDemand. "From the beginning, we understood the need for a fully integrated solution and have designed a system that seamlessly connects learning, performance and succession planning technologies into one easy-to-deploy solution. In 2006, we plan to expand our offering into recruiting and compensation technology, providing further value for our clients. We continue to lead the market in delivering the only fully-integrated on-demand HCM solution and look forward to our continued leadership position in this space.