This week, Loxo introduced their next generation Recruiting CRM and also unveiled a new product called Deals, designed for executive search, RPO and recruiting agencies. The Recruiting CRM is now available in different package options including a version specifically built for the world’s largest enterprise organizations designed to bi-directionally integrate with an existing applicant tracking system or HRIS.
Loxo is the #1 Talent Intelligence Platform and global leader in artificial intelligence recruitment automation software. Loxo’s state-of-the-art product suite and proprietary data solutions offer the most advanced recruiting and sourcing technology in the marketplace.
In 1998, the world wide web gave birth to the first dot com businesses, and the ATS was created to manage the influx of applications from job boards. For more than twenty years, the applicant tracking system has remained the system of record for recruitment centered around screening inbound job board applicants. LinkedIn, career sites and other sourcing tools provide access to an ocean of passive talent, but the problem is all of the data lives outside of the core ATS and none of these sourcing tools integrate across their entire workflow.
In recent years, the Recruiting CRM has grown in popularity with the promise of being able to manage everything in the “pre-hire” process. The intent was to make it easier to build a talent community and talent pipelines and then nurture candidate relationships until it was time to move a candidate into the ATS at the interview stage.
Despite strong KPI improvements, traditional Recruiting CRMs have the same fatal flaws that ATS have – they were designed to manage inbound applicants and are exceptionally weak at search, sourcing and recruiting activities. In other words, the Recruiting CRMs available on the market today handle recruitment marketing and corporate branding activities, exclusively for the pool of applicants who have opted-in to their talent community. Talent acquisition leaders realize this is not an effective model and they are demanding better outcomes.
Loxo solves these decades old problems and redefines the role of a CRM in modern recruitment. Loxo’s Recruiting CRM includes AI-driven candidate sourcing, ranking and matching technology coupled with a proprietary database of over 560 million people. The best-in-class recruiting workflow product suite combines proprietary data solutions. Since Loxo includes data, workflow automation and artificial intelligence solutions it becomes the ultimate in both inbound and outbound recruitment. Recruiting organizations are able to automate candidate opt-in, screening, sourcing and engaging candidates, freeing up recruiters to focus their time on interviewing only the very best candidates with the highest probability of being a perfect fit. This drastically improves the quality-of-hire, reduces time-to-hire and frees up resources to focus on more strategic efforts like diversity and inclusion.
“We wanted to take a holistic view of talent acquisition, and explore how we could simplify everything, automate as many steps as possible and create the easiest to use, yet most powerful recruiting platform in the marketplace for both agencies and the enterprise,” said Matt Chambers, Loxo cofounder and CEO. “There will always be recruiters in HR with skills limited to posting jobs, screening in-bound applicants and randomly filtering profiles on LinkedIn, but world-class recruitment teams utilizing Loxo are running circles around their traditional peers by harnessing the power of an automated pipelining and outbound recruitment platform.”
“The business requirements and product design challenges to seamlessly interweave everything we do in one system is extraordinarily complex. Building completely different CRM versions for each of our customer segments made this an order of magnitude more complicated and was our biggest software code release in history. We couldn’t be more excited to see the impact this has for our customers in the years ahead.”
The agency version includes Deals, which is tightly integrated with Loxo’s state-of-the-art applicant tracking system. The combined platform offers an unrivaled end-to-end system of record for executive search, RPO, recruiting and staffing agencies. Deals manages the business development and marketing activities for agencies, so they no longer need a separate sales CRM like Salesforce, Hubspot, or Pipedrive.
The in-house corporate version was specifically developed for enterprise sourcing and talent acquisition teams and was designed for bi-directional integration into existing HRIS or ATS products such as: