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TALENThire Announces Funding and Launches Contract Labor Marketplace Solution in Atlanta and Southeast Markets
Solution Empowers Companies to Quickly Source Contractors and Temporary Labor and Manage the Associated Process and Compliance Activities
ATLANTA, September 9, 2010 -- TALENThire, an Atlanta-based company that provides an on-demand platform for sourcing contractors and temporary labor while managing process and compliance risks, recently announced it raised additional funding from Atlanta-based investment group Value Plus Ventures.
Atlanta organizations are reporting a growing shift in their hiring practices. They have been moving towards a flexible workforce and the use of contractors and temp-to-hire labor to help meet increasing workloads and projects and to avoid hiring full time employees. The rise of Independent Contractors also brings compliance risks that are becoming more complex as government regulations increase. Adhering to the Fair Labor Standards Act and state and federal government scrutiny can be a full time job in itself. "Atlanta companies are becoming aware of the unique power of and embracing our Contract Labor Vendor Management Solution", said Kyle Antcliff Chief Operating Officer TALENThire. "There are multiple benefits to utilizing contractors, however, these benefits also bring operational challenges such as contractor sourcing, tax and payroll compliance, time and expense tracking, payrolling, invoicing and payment and end-to-end process management", added Antcliff.
While the Company's core vendor management solution helps companies who already have significant contractor spend and established staffing firm relationships in place, TALENThire recently launched a contract and temporary labor marketplace solution in Atlanta and the broader southeast. The marketplace allows companies the ability to utilize TALENThire's strong local staffing firm network to quickly and easily source and manage contractors or temporary labor for projects or workforce augmentation. The new solution manages all of the tasks associated with contract labor, including online time and expense capture, consolidated invoicing, staffing firm payment, and tax and payroll compliance.
"As a growing company we utilize contractors as a key part of our talent acquisition and resourcing strategies", said Dale McConnell Chief Information Offer for BrandsMart. "TALENThire's solution is very intuitive and provides us quick access to qualified staffing firms for sourcing talent and then manages all of the related tasks, including on-boarding, time and expense tracking, invoicing and staffing firm payment. Before TALENThire we would contact several staffing firms, negotiate terms, hope they produced quality candidates and then struggled with things like time tracking and payment. TALENThire's solution solves all of these headaches", McConnell added.
Fueling TALENThire's growth and increased product expansion is the additional funding it received. "We like TALENThire because it addresses the need for cost containment and process management solutions in companies of all sizes. It uniquely focuses on managing contract labor and services spend for its clients, which puts it high on the radar of senior executives. This coupled with the fact that the market for contract and temporary labor is large, growing and difficult to manage for companies provides it a unique market opportunity for growth", said Lee Provow of Value Plus Ventures.
TALENThire's on-demand workforce solution enables companies to acquire talent and gain control and visibility over spending on contingent labor, direct hires and outside services. The solution uniquely empowers companies to effectively source and manage Contract Labor and comply with federal and state labor laws associated with the usage of contractors. TALENThire's customer partners include AOL, Cbeyond and BrandsMart and its staffing firm network is over 500 strong.