Burning Glass Announces Solution for Human Capital Mgt

Burning Glass Technologies, a leading provider of information extraction and predictive analytics infrastructure software for the Human Capital Management (HCM) market, announced the general availability of its Lens suite of products. Built upon Burning Glass's proprietary Predictive Matching technology, Lens provides breakthroughs in efficiency and cost-effectiveness for the entire candidate acquisition, job matching and employee retention process.

Every company must address the complex challenge of finding and retaining talent in a timely and cost-effective way. According to the 2000 Cost Per Hire and Staffing Metrics Survey by the Employment Management Association and the Society for Human Resource Management, a company spends on average 76 days and $10,000 to hire an exempt employee. Burning Glass is focused on the HCM market to address these hiring costs and inefficiencies. Results by current customers - leading recruitment agencies and job boards - show that the Burning Glass Lens solution can reduce sourcing and search time by 80 percent, and can deliver search results that are up to 400 percent more accurate than other information extraction technologies currently in use.

"We are very impressed with the technology that Burning Glass has developed. It is solving our business problems efficiently and affordably," said Greg Dotson, CTO of Guru Inc. "Using Burning Glass's Lens software, we can capture rich, structured information about independent professionals quickly and cost-effectively."

Burning Glass Lens products provide recruitment agencies, job boards and human resources management systems vendors with a fully integrated solution to parse, search and match resumes with job postings. Lens products are based on proprietary patent pending Predictive Matching technology, which combines the power of two branches of artificial intelligence - statistical natural language processing (SNLP) and predictive modeling. Unlike existing methods of matching resumes with jobs, Burning Glass's Lens extracts detailed information from resumes and job postings, and then, based on mathematical models of employer and applicant behavior, determines the degree of compatibility between applicant and job posting. The technology is powered by Burning Glass's KnowledgeMine, a one of a kind repository of intelligence gathered from millions of actual job transactions. KnowledgeMine continuously learns with each resume processed, allowing it to keep up with emerging trends in Human Capital Management.

"By applying Burning Glass's unique Predictive Matching technology to the Human Capital Management market, we are helping to improve a critical issue faced by companies across all industries," said Krishna Gopinathan, CEO of Burning Glass. "Our solution will significantly reduce the overall time and cost associated with hiring and retaining the right personnel. Lens is highly scalable and can be easily adapted to foreign languages, a feature highly valued by Global 2000 companies and multi-national recruitment agencies."

Burning Glass Lens

Lens includes a suite of four modules:

• LensXRay accepts resumes that are pasted onto Web sites in real-time, automatically extracting applicant information into an industry-standard XML database representation.
• LensSkills identifies skills mentioned in a resume or job description and translates them to a standard form even if described in other words. LensSkills also predicts additional skills an applicant is likely to have and identifies the candidate's core competencies.
• LensMatch automates the prediction of a match between a resume and job description. These predictions, encapsulated in the Burning Glass LensScore, are used to select, evaluate and rank applicants or positions.
• LensSearch helps find the right candidate for a job by ranking resumes in large databases. LensSearch combines the traditional benefits of keyword searches with the precision of Predictive Matching.

Availability and Deployment

Burning Glass's LensXRay, LensMatch and LensSearch modules are available now. LensSkills will be available in the second half of 2001. Extremely scalable, Lens can be run on desktop computers, large servers, or multi-processor systems running Windows NT or Linux operating systems. Burning Glass's standard application programming interfaces (APIs) make it easy for customers to integrate the technology into their solutions.

About Burning Glass Technologies

Burning Glass applies advanced statistical natural language processing and predictive modeling technologies to improve the efficiency of the Human Capital Management marketplace. Its first product, Lens, serves Internet employment exchanges, recruiters, applicant tracking systems, enterprise resource planning (ERP) system providers, and human resources management systems vendors. Lens provides core technology to parse resumes and job postings into industry standard HR-XML format and provides the most powerful method of searching large resume databases in real-time by combining the power of predictive modeling with the flexibility of keyword searches. Through Lens, Burning Glass brings both a new approach and superior technology to the difficult problem of matching candidates with positions. For more information visit Burning Glass at
www.burning-glass.com.

Contact Burning Glass Technologies, Jalpa Trikannad, 858-292-6607, Jalpa@burning-glass.com.