Series of Successes Drives Momentum for Cornerstone OnDemand in Europe
Client growth and industry recognition boosts Cornerstone’s European presence
LONDON – Dec. 14, 2017 - Cornerstone OnDemand (NASDAQ: CSOD), a global leader in cloud-based learning and human capital management software, today announced that it has significantly expanded its market footprint in Europe, with high adoption of its Cornerstone HR suite and continued organic growth and uptake of the full Cornerstone human capital management (HCM) platform within its current client base.
In Europe, many international organizations have grown from acquisitions. Coupled with a plethora of legacy IT systems due to Europe’s rich IT history, organizations face the complex task of creating a centralized system for all workforce data. Instead of initiating a long and costly rip-and-replace strategy, many companies have instead chosen the Cornerstone HR suite, a flexible, cost-effective alternative to rigid, expensive HR systems.
Appetite for the Cornerstone HR suite
In the third quarter of 2017, Cornerstone had the largest volume of Cornerstone HR suite wins in the company’s history, more than doubling the number of year-to-date Cornerstone HR client wins among new European clients when compared to the first nine months of 2016. New Cornerstone HR clients in Europe include Merlin Entertainments plc, Agromillora Iberia, HipoGes Iberia, Groupe Roullier and Melexis NV.
Organic growth across EMEA
Cornerstone has also experienced significant organic growth within its current client base. Notably, SUEZ, a key player in the circular economy for sustainable resource management, is now using Cornerstone’s HCM platform to promote the digitization of its HR processes, the standardization of its tools and the engagement of its employees across the globe after a successful pilot phase. Cornerstone European clients who have expanded to additional Cornerstone solutions include Banca Mediolanum S.p.A., Konica Minolta and Foster + Partners.
Strategic leader in Learning Systems
The Cornerstone Learning suite unifies an unparalleled digital learning experience with deep learning management capabilities and modern content in one platform (Learning Experience Platform). Spotify-style content curation enables relevant, meaningful, natural learning experiences, while the Netflix-style UX allows for simplified tiled browsing and predictive searching. Maersk, a worldwide conglomerate in transportation and energy who employs 89,000 people, uses Cornerstone Learning to offer all employees anytime, anywhere access to training and courses as well as the means to collaborate with peers.
Cornerstone’s momentum and growth in Europe has caught the attention of the industry, too. Europe’s leading HR analyst, Fosway, named Cornerstone a ‘Strategic Leader’ in the October 2017 Fosway 9-Grid™ for Integrated Management systems and a ‘Core Challenger’ in the October 2017 Fosway 9-Grid™ for Cloud HCM. Cornerstone remains positioned as a Strategic Leader in the 2017 Fosway 9-Grid™ for Learning Systems.
Additionally, Cornerstone’s founder Adam Miller was awarded with HR Tech World’s 2017 Unleash Award in Amsterdam last October. The award recognizes individuals who have revolutionized the industry and have helped pioneer HR transformation through technological innovation.
Cornerstone has invested significantly in expanding its presence in the EMEA region, including its plan to open two additional data centers in France and Germany in 2018 to meet the stringent security and privacy needs of the European Union, as well as give Cornerstone clients more geographical options for where their talent data is stored.
Comments on the news
“Following significant investments in Europe, Cornerstone is experiencing a series of successes and growth in the region, enabling more organizations and employees to realize their potential. This relationship has been two-way as well. Insights from European clients are a primary driver of product development for our company, and it was the challenges particular to European organizations that initiated the development of the Cornerstone HR suite over the past several years,” said Vincent Belliveau, executive vice president and general manager EMEA, Cornerstone OnDemand. “We have supported organizations of all shapes and sizes in driving their digitization strategies, placing their people at the core of their businesses. With the right people come new ideas, innovation and growth. Our success mirrors theirs.”