How FX Innovation reduced their spend per placement by 30%
A DaXtra Technologies Case Study
FX Innovation is an information technology company based out of Montréal, Quebec. They are a value creator for the Canadian economy and as an employer of choice for IT talent. They support companies in their digital transformation journey by delivering the technological foundations on which great companies are built.
Challenge
Prior to Maude Boivin joining FX Innovation as Vice-President Consulting Services, their marketing spend was not being leveraged. With a Monster job board plan that included 20,000 annual views, most views were being used but out of those only 4,000 candidates a year were making it into their database. This translates into the fact that a mere 17% of their job board spend was being used. Marketing dollars were wasted on duplicate job board views or on candidate profiles that were never loaded into their Bullhorn database.
When recruiters ran searches, they were typically in the habit of starting with the job boards and social sites rather than focusing on their internal database, which contained a wealth of qualified candidate profiles. They were also demanding more resources and requesting more money for online sourcing, as they were working as a smaller team that had very little time.
As a result of years of manual data entry, the errors and duplicates in their system had made their database unsearchable. Maude recounts the frustrations faced at the time, “The candidates were in the database but were not being found.”
Solution
In January 2020, when she first joined the FX team, Maude’s first mandate was to quickly transform the operations of that division. Slow processes and an unsearchable database were bogging them down. Her arrival coincided with the beginning of the pandemic, presenting her with the time needed to evaluate and improve the current processes and bring about better overall efficiencies.
Maude reflects on when she started at FX, “We were not using many automation tools at the time and customers would tell us we were too late, the position had been filled.”
After evaluating several solutions FX Innovation chose to purchase the full DaXtra suite of products to automate their sourcing needs. Maude liked the way DaXtra approached the situation, “DaXtra had done the research, knew who we were and understood our needs. There were no high-pressure sales, just presentation, demoing and thorough follow-ups.”
Since outdated bad data had left their database unsearchable, the main objective was to clean the existing data. For this Maude chose DaXtra Capture. This solution would take care of data cleansing and enrich and structure incoming data. This was key in making their Bullhorn database searchable so placements could be made from existing candidates, rather than relying full time on external sources.
With clean data, the next priority was to be able to search and find the most relevant candidates, rank and shortlist them. Using DaXtra Search and SmartMatch’s AI semantic search capabilities
Combining these with DaXtra Magnet to pull data in from outside sources they now find the best candidates within their Bullhorn database and from external sources, quickly.
The integration of DaXtra into their Bullhorn database went remarkably well. Maude recounted the experience, “From the beginning, the entire DaXtra team was amazing to work with. From sales to implementation, to go live and support, everything fell into place seamlessly. I’ve gone through this type of implementation many times in the past 15 years of my career and never had I had a process go so smoothly. I was so impressed I referred my husband who was starting a recruiting firm at the time, and he has had a similar experience.”
Results
Now, a little more than a year later, after implementing DaXtra solutions, FX Innovation is beating the competition hands down. “Our competition will call and ask what we’re doing because we fill open positions faster than others. Implementing DaXtra has been a game-changer in time-to-fill,” Maude comments.
With the powerful automated loading feature in DaXtra Capture, instead of 17%, they now load 100% of the candidate profiles viewed on the job boards into their database, an increase of 488%. This not only makes sure that every viewed candidate profile is making it into their system, it also does the job quickly and accurately, saving recruiters’ time that would have been spent on the manual process of data entry.
DaXtra Search has eliminated the potential for duplicate job board views and by searching over their Bullhorn database before going to the job boards the recruiters are now making better use of the profiles they already possess. With machine learning and AI DaXtra searches over resumes and database fields matching candidates to job, jobs to candidates and even candidates to candidates. Using an intuitive interface that builds complex Boolean queries, it does the heavy lifting allowing FX recruiters to search in natural language terms.
Working with DaXtra Search, DaXtra SmartMatch sends automated emails containing candidate recommendations from your local database to a user when a new job is posted.
It matches candidates to the new job and makes recommendations based on relevancy to the position based on the job descriptions entered. This matched list is added to a tearsheet used by recruiters to pre-screen. It then looks for and synchs new jobs that have been added to their ATS. When it identifies a new job, Smart Match will generate a search query and runs a local search over the ATS to bring back a list of local results.
With DaXtra Magnet, they can import a candidate directly from job boards and social networks, all while tracking the source.
The analytics of these solutions track the source and provide data to determine FX Solutions’ best sourcing outlets, allowing them to better their job board ROI.
DaXtra Styler allows them to present a consistent brand identity. Every resume that is automatically formatted and branded saves at least 10-15 minutes of recruiter time. Multiply that with the hundreds of resumes that are formatted each week and you have substantial savings.
Enriched database and a decreased spend
By introducing DaXtra’s suite of products, FX Innovation’s database has grown and improved so much that in the year since implementing DaXtra, their spend per placement has decreased by 30%. Their database is now full of rich structured data which is searchable, so that candidate profiles within the database can be found and placed.
Maude sums it up by saying, “There are usually many uncertainties faced when signing technology contracts, but from the beginning, I felt everything was being taken care of and there was an organized plan in place. The results have truly surpassed my expectations.”
Maude Boivin
Vice-President Consulting, FX Innovation
With close to 28 years of experience in sales, recruiting, and management, Maude began her career as a Professional Recruiter for Kelly Services. Maude was quickly moved into management and evolved into the Eastern Ontario Region and Quebec Provincial Director role.
She then moved to HCMWorks as the Senior VP of Operations. Maude operated numerous MSP programs within North America specializing in both Contingent Labor Management and Statement of Work Spend, across various industries. During these 14 years, she orchestrated the implementation of several programs using various Vendor Management Systems such as Beeline, Click Commerce, Emptoris, SAP Fieldglass, Ariba, ServiceNow, Provade, and PeopleFluent.
