This is the 10th part of our series on the HR Tech World Startup Competition powered by Cornerstone. Faye Holland, our MC for the startup expo, writes about the 5 finalists (and 10 runners-up) who will compete for a sponsorship package during HR Tech World Amsterdam. Purchase your tickets to the show here.
Counted amongst finalists of the HR Tech World Startup Competition in Amsterdam 2017 is VCV, an AI-powered robot recruitment solution. VCV identifies and screens job candidates using voice recognition technology, then submits a video interview of qualified candidates to hiring managers. VCV saves recruiters over 20 hours, according to CEO Arik. While traditional recruitment teams have limitations set by working hours, VCV’s recruiting ‘bots’ can work 24 hours 7 days a week. VCV’s solution handles multiple stages of recruitment, from reading CVs, gathering initial information to conducting phone and/or video interviews, and shortlisting candidates for face-to-face interviews. VCV helps companies hire more intelligently and more efficiently with automated and autonomous technology.
At the HR Tech World Startup Competition VCV hopes to continue the success experiences in the Silicon Valley Accelerator program 2017 – “500 Startups”, in which VCV was selected from 2000 applicants. Arik explains that HR Tech World and its Startup Competition is the perfect platform to share their success story and play a part in creating a new vision for the future of HR.
Although Arik is right in recognising a change in HR, commenting that in the last two years the VCV team has seen clients become more open to, curious about and willing to experiment with technology, the main criteria remains the same: optimising costs and time, and making a profit.
The VCV solution relies on the matching capability and keyword method technologies, which are based on the machine learning used throughout the hiring process. VCV systems record which candidates from the initial talent pools go on to get the job offer, and then analyses this data. Why did this candidate get chosen and not the others? What was the criteria for success? How can VCV better match candidates next time? By answering these questions using the data from recruitment examples, machine learning takes place as the bots work 24/7. With every successful hire, VCV recruitment bots get better and better.
The added benefit of harnessing machine learning for recruitment is the effect of Diversity & Inclusion. As VCV screens CVs, it doesn’t filter or discriminate based on ethnicity, gender or name; the bots focus only on finding the best professional qualities. This approach is mirrored during phone and video interview processes. It’s fundamental to the VCV solution to eliminate subjectivism and ensure inclusion.
Based: San Francisco, USA/Moscow, Russia
Key customers: Mars, Philip Morris, BCG, PwC, Raiffeisen Bank, Glenmark, Danone, Decathlon, Metro C&C
Target industries: Major sectors: FMCG, Retail, Banks, Pharma, Oil&Gas
What function within HR is your product designed for: Recruitment (search and selection process)
Arik Akverdian, CEO of VCV, is a HR tech entrepreneur with the 14 years’ experience in recruitment at the multinational companies. Arik started his career in 2003 as a recruiter and in four years he was promoted to Branch Manager at Adecco, the world’s number one recruitment company. Arik was nominated the top performer in 2005, 2006 and 2007. In 2011 he joined SGS company, the world’s number one inspection company, as a Business Manager for Technical Staffing Services. Since 2013 Arik has been developing the HR tech company called VCV.
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