New Product Launch - GatedTalent

RNS Number : 0293S

Dillistone Group PLC

28 September 2017

 

Dillistone Group Plc

New Product Launch

GatedTalent - The Next Generation Executive Recruitment Database 

Dillistone Group Plc ("Dillistone", the "Company" or the "Group"), the AIM quoted supplier of software for the international recruitment industry through its Dillistone Systems and Voyager Software divisions, is pleased to announce that its new product "GatedTalent" will be formerly launched at the World Executive Search Congress, taking place in London on October 9-10 2017.

GatedTalent (www.GatedTalent.com) is an entirely new product designed to allow executives to share information with multiple recruiters in a confidential manner, redefining the relationship between executives and recruiters and revolutionising data management.

Key features of the product include:

·   Executives retain control and integrity of their personal data shared with subscribing recruiters ensuring candidate profiles are up to date and accurate

·  Executives can manage which recruiters have access to their information and can manage the degree of disclosure via privacy settings

·   GatedTalent provides a solution for recruiters in the light of the approaching General Data Protection Regulation (GDPR), helping to mitigate the risk of non-compliance.

·    Recruiters benefit from accurate data from the executives themselves, reducing the cost to maintain quality executive data in future

Recruiters will pay a subscription to access the service with the potential for additional transaction fees.  The executives themselves never pay to access the platform, meaning that the tool is comparable to sites such as LinkedIn and Xing.  Unlike those platforms however, the executive can anonymise his or her information and can control which recruiters are able to access full information.

The recruiters who subscribe to the service will benefit in a number of ways.  The major driver initially will be the incoming General Data Protection Regulations ("GDPR") which impose a higher level of compliance on recruiters that store information on executives.  GatedTalent will manage elements of this process.

Although executives may register directly, GatedTalent will primarily be populated from invitations sent by recruiters themselves.  The Board anticipates that over 1,000,000 executives will be invited by our executive search firm partners to join the platform prior to the enforcement of the new GDPR rules in May 2018.  The nature of our clients means that the invitations will be principally sent to senior executives.

GatedTalent contains several elements which will become operational in stages over the remainder of the year and early 2018.  We currently expect the product to start to generate revenue in early 2018.  Additional functionality is likely to be added in future periods. The new product is not expected to make a contribution to profits prior to 2019.

Commenting, Jason Starr, CEO of Dillistone Group Plc said: "We believe that this new service will be transformational for the Group.  New regulation has created an opportunity for us which, we believe, will be very difficult for other firms to replicate later.  Based on the ongoing conversations we continue to have with our executive search firm clients, we believe that GatedTalent will be the largest executive curated, private database of its sort in the World before the end of 2018.

"The Board also believes that the new product will have a significant positive impact on sales of its FileFinder Executive Search Management System, which will be tightly integrated with GatedTalent.

"GatedTalent may be subscribed to by any recruiter.  However, search firms using the FileFinder Anywhere platform will benefit from seamless integration with the platform, with two-way communication between FileFinder and GatedTalent.  This will offer significant efficiency gains to our clients.  CRM suppliers to executive search firms have typically offered an empty platform and left clients to worry about the data.  The combination of FileFinder and GatedTalent will offer much more and we believe this will positively impact FileFinder sales."

Results and New Product Webinar - A webinar covering Dillistone's half year results and the launch of GatedTalent will be held at 3pm on Tuesday 3 October 2017 hosted by Jason Starr, Chief Executive, and Julie Pomeroy, Finance Director.  Those wishing to participate should register at https://attendee.gotowebinar.com/register/2506095248269576963 or contact Tom Cooper on 020 7933 8780, 0797 122 1972 or [e-mail].

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

 

Dillistone Group Plc
Mike Love	Chairman			020 7749 6100
Jason Starr	Chief Executive			020 7749 6100
Julie Pomeroy	Finance Director			020 7749 6100
WH Ireland Limited (Nominated adviser)
Chris Fielding	Head of Corporate Finance			020 7220 1650
Walbrook PR
Tom Cooper / Paul Vann				020 7933 8780
				0797 122 1972
				[e-mail]

Notes to Editors:

Dillistone Group Plc (www.dillistonegroup.com) is a leader in the supply and support of software and services to the recruitment industry. It has five brands operating through three divisions: Dillistone Systems, which targets the executive search industry (www.dillistone.com); Voyager Software, which targets other recruitment markets (www.voyagersoftware.com); and GatedTalent, the next generation executive recruitment database (www.GatedTalent.com).

Dillistone has made three acquisitions: Voyager Software in September 2011, FCP Internet in July 2013 and ISV Software in September 2014.  The Group operates under the FileFinder, Infinity, Evolve, ISV and GatedTalent brands.

Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.  The Group employs over 100 people globally with offices in London (head office) Basingstoke and Southampton, Frankfurt, New Jersey and Sydney.

 

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