Zoho, a global player in the Software as a service applications place, recently announced its acquisition of ePoise Systems. ePoise is a company that offers automated HR and onboarding services for companies.
ePoise is a critical acquisition for the company, with its crown jewel being its automated hiring process screener. The company offers multiple services, such as employer branding, smart screening, vendor management, talent engagement and onboarding training.
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They automate the hiring process by administering multiple rounds of cutoff interviews. The responses of the applicants are also determined automatically, with those passing the tests getting the chance to go through an asynchronous video interview. This gives companies the chance to offload some of the HR workload of going through new applicants.
ePoise is the latest in a series of companies looking to automate the HR side of things using AI. The technology is a natural fit for the vertical, as it presents a unique method of deriving insights from applicants. Moreover, it also opens up room for automated psychometric analysis, increasing the quality of hired individuals and the ‘right people for the right job’.
Zoho with over 40 million users worldwide, acquired the startup for an undisclosed amount. This is an interesting move, considering how Zoho has become focused on providing end-to-end SaaS solutions for companies. Currently, it provides a cloud software suite with over 40 integrated applications. It also offers a service called Zoho One, which allows companies to manage, connect and automate business practices.
Acquiring ePoise creates an opportunity for Zoho to generate new sources of revenue by harnessing the power of AI to provide a comprehensive services package to a budding company. On the merger, Sridhar Vembu, the CEO of Zoho, stated, “The combination of Zoho’s global footprint and depth of product portfolio and ePoise product capability and talent will add value to our customers. We are open to such tech-focused acquisitions.”