Analyst research highlights growing potential for on-demand technology such as that provided via the Cornerstone OnDemand Solution
Santa Monica, CA - April 26, 2005 - CyberU, Inc. the leading provider of integrated on-demand enterprise software solutions for human capital management (HCM), has been delivering its best-in-class learning and performance solutions to the Fortune 1000 via the on-demand model for over five years. The company has seen nearly a 100% increase in sales year over year for its Cornerstone OnDemand solution and projects continued growth in 2005. Recent reports by industry experts indicate that more companies than ever before are not only selecting on-demand learning and performance management systems, but are more satisfied as a result of their on-demand system than clients using the traditional client-server model.
On-Demand software, or software-as-a-service, as it is also known, is clearly on the rise. Analyst projections demonstrate the growth and acceptance expected for the on-demand delivery model as it continues its evolution as a desirable alternative to the more traditional, more expensive corporate licensing model. Cost and speed seem to be the primary factors driving acceptance.
According to the Software & Information Industry Association and Triple Tree's industry analysis report Software-as-a- Service: Changing the Paradigm in the Software Industry (August, 2004);
"The enterprise software industry is undergoing a fundamental shift in how technology is being delivered and sold with new models changing the relationship between vendor, client or end-user, and third-party service provider. The trend toward software-as-a-service represents a dramatic shift that has been brought about by an interest in lowering the total cost of application ownership, generating a faster return on technology investments, sharing in the application execution risks, and eliminating large, upfront and 'hidden' operational costs."
Josh Bersin, president of Bersin & Associates, is one of several learning management experts to document the increasing acceptance of hosted solutions within the training and development field. "Our 2005 LMS customer satisfaction study showed clearly that customers of hosted solutions are more satisfied than those with internally managed systems. We found that 86% of enterprise organizations with learning management systems hosted by a third party are satisfied or very satisfied," said Bersin. "We also found that the total number of learners on hosted systems was roughly two times the number of learners running on internally managed systems - indicating that large companies are now looking to external hosting providers in a significant way."
"As recently as a year ago, we were meeting with a much higher level of skepticism especially among larger enterprise customers about the validity of the on-demand model," says Adam Miller, President and CEO, CyberU, Inc. "That has changed significantly. The need for a more rapid return on investment and a lower total cost of ownership is driving the shift in the marketplace for on-demand technology."
CyberU's Cornerstone OnDemand provides the following benefits:
- Limits the need for extensive technical resources;
- Is more flexible in terms of configurability and customization;
- Is provided through a variety of pricing models, including subscription based pricing and enterprise pricing;
Regular maintenance is included and executed by system experts; and
- Regular updates of Cornerstone as versionless software, provide clients with the most up-to-date functionality and security available.
Cornerstone powers the future ready workforce, with HR software and solutions designed to unite people, teams, technology and business, and inspire a work environment of growth, agility and success for all. With an AI-powered and skills-forward system designed for the contemporary workforce, we help organizations modernize the learning and development experience, deliver the most relevant content from anywhere, accelerate talent and career mobility, and establish skills as the universal language of growth and success across the business. Cornerstone serves over 6,000 customers and 75M users and is available in 180 countries and 50 languages. https://www.cornerstoneondemand.com/