Cornerstone Signs a Five-Year, $20 Million Blanket Purchase Agreement with the U.S. Department of the Treasury
Agreement gives multiple agencies throughout the federal government the ability to deploy Cornerstone’s learning and talent management software in their organizations
SANTA MONICA, Calif. – August 17, 2011 – Cornerstone OnDemand (NASDAQ: CSOD) today announced that the U.S. Department of the Treasury has selected the company’s integrated learning andtalent management software solution, including platforms for learning management, performance management, succession planning andenterprise social networking, to support its workforce management and leadership development needs. Through a five-year blanket purchase agreement, the U.S. Treasury is authorized, but not guaranteed, to spend up to $20 million in software and services from Cornerstone depending on actual task orders received from the federal government. Initial task orders include deployments for the U.S. Treasury headquarters’ departmental offices and the Office of the Comptroller of the Currency.
The U.S. Treasury, which employs more than 162,000 people, operates the HR Connect Program Office (HRCPO), an organization within the U.S. Treasury’s Office of the Chief Information Officer. As one of six federal shared service centers for the civilian sector of the federal government, the HRCPO implements and maintains information technology solutions that create HR efficiencies throughout the federal government and enable managers to achieve their human capital goals. In addition to the U.S. Treasury, the blanket purchase agreement gives other federal agencies the ability to deploy Cornerstone’s SaaS solution in their organizations.
The US Office of Personnel Management predicts that 241,000 federal employees will retire by the end of fiscal year 2012 and that one out of every three federal employees will retire by 2018. With this in mind, the HRCPO felt it was critical to be more proactive when it comes to addressing talent gaps, developing leadership pipelines and retaining top performing employees across federal agencies. Using Cornerstone’s solution will allow the HRCPO to collect and provide better intelligence about the organization’s large, geographically distributed employee base, in turn helping agencies to make smarter, more strategic decisions about its people and be better prepared for the workforce changes ahead.
The HRCPO chose Cornerstone’s SaaS solution for its intuitive interface, ease of configuration and system flexibility. Migrating to the Cornerstone solution is expected to result in process efficiencies for the Treasury’s customers.
“We are pleased to help bring talent management best practices to the federal sector. Talent management technology, and SaaS solutions in particular, can play a transformative role in helping federal agencies to streamline their talent processes,” said Adam Miller, president and CEO of Cornerstone OnDemand. “The U.S. Treasury’s investment in our software and integration of key talent processes marks a real paradigm shift, particularly at a time when traditional HR strategies and legacy ERP solutions are no longer sufficient to empower people and drive results.”
For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.com. To follow Cornerstone OnDemand on Twitter, go to http://twitter.com/cornerstoneinc. To read Cornerstone OnDemand’s talent management blog, visit http://www.cornerstoneondemand.com/blog.
Cornerstone is the world’s leading people development company. We believe people can achieve anything when they have the right development and growth opportunities. We offer organizations the technology, content, expertise and specialized focus to help them realize their people potential. Featuring comprehensive recruiting, personalized learning, modern content delivered in the flow of work, development-driven performance management and holistic workforce data management and insights, Cornerstone’s people development solutions are used by more than 3,640 global clients of all sizes, spanning more than 40 million users across 187 countries and 43 languages.
Learn more at www.cornerstoneondemand.com.