Company will focus on direct sales to achieve revenue growth for "big
data" solutions in the Human Capital Management sector
QUEBEC, March 27, 2014 /CNW Telbec/ - WANTED Technologies (the
"Company") (TSX-V: WAN), announces that it will be expanding its sales organization to focus on
direct sales efforts in the market for "big data" analytics in the
Human Capital Management sector. Additionally, the Company, which also
sells its products through resellers, is announcing the termination of
one of its reseller agreements, effective June 22, 2014.
The termination of the reseller agreement, which the reseller initiated,
will reduce the Company's recurring revenues in the short to
medium-term until the WANTED sales organization establishes a direct
business relationship with new, direct clients. In the latter part of
2013, the Company began to add sales reps, and it will continue to add
to the direct sales staff in the coming months.
Historically, the majority of WANTED's revenues has been derived from
its direct sales channel. Since 2010, however, the Company has licensed
portions of its proprietary big data asset to resale partners, some of
which have incorporated WANTED's data into their own products. As the
market for human capital analytics has heated up, features in some of
the products incorporating WANTED's data have begun to conflict with
WANTED's own products.
"We are seeing demand accelerate in the market," said Bruce Murray,
WANTED's President and CEO. "It makes sense for us to work with
partners and resellers in some contexts, but in others, we would prefer
to work directly with the client rather than through an intermediary."
The increase in staffing with four additional sales reps in the direct
sales organization and the end of one reseller agreement reflect both
the increasing opportunity in the market and the recognition of
potential for channel conflicts. Revenues from the terminated reseller
represented $1.0 million (US) of the Company's recurring revenue base
reported at the end of the most recent reported quarter ending December
The Company has a diversified customer base and reported record revenues
during the second quarter. In that quarter, the recurring revenue base
achieved a year-over-year growth of 25%. The year-over-year growth rate
of the terminating partnership was only 4% of that growth, while other
direct and reseller segments represented 21%.
For the first two quarters, WANTED's revenues from all reseller partners
represented 36% of total revenues, while revenues from direct sales
represented 64% of the total. The reseller agreement which is
terminating represents approximately one-third of the revenues
associated with resellers.
WANTED provides data analytics in the Human Capital Management sector.
Its products draw upon its proprietary database of more than one
billion records that provide Supply and Demand metrics to support
decision-making in the US and Canadian Staffing and Corporate HR
About WANTED Analytics™
WANTED Analytics™ helps recruiting organizations make better decisions faster with
real-time business intelligence on jobs, employers, and talent. Analytics™ brings together, for the first time, years of hiring demand and talent
supply data to create a true talent intelligence platform for
Clients in the staffing, HR, RPO, media, and government sectors use
WANTED Analytics™ to find sales leads, analyze employment trends, gather competitive
intelligence, forecast economic conditions, and source hard-to-fill
About WANTED Technologies Corporation
WANTED Technologies (TSX-V:WAN) provides real-time business intelligence
for the talent marketplace. Founded in 1999, the company's headquarters
are in Quebec City, Canada, and it maintains a US-based subsidiary with
primary offices in New York City. WANTED began collecting detailed
Hiring Demand data in June 2005, and currently maintains a database of
more than 1 billion unique job listings. For more information or to
sample WANTED's services, visit www.wantedanalytics.com.
WANTED is also the exclusive data provider for The Conference Board's
Help Wanted OnLine Data Series®, the monthly economic indicator of
Hiring Demand in the United States.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. Any statement that appears prospective
shall not be interpreted as such.
SOURCE: WANTED Technologies Corp.
For further information:
Mr. Bruce Murray, President and CEO
Tel: (212) 242-6140
Mr. Martin Auclair, VP Finance and CFO
Tel: (418) 523-6663, ext. 337