SAP SE has entered the people analytics market after purchasing intellectual property and key personnel from SwoopTalent Corp. for an undisclosed fee.
SwoopTalent has developed a platform that automatically links talent systems and data for analytics, machine learning, and migrations. SAP plans to integrate SwoopTalent’s technology with its SuccessFactors Human Experience Management Suite following today’s acquisition to give users better visibility into human resource efforts, such as diverse projects, internal employment, mentorships, courses, and fellowships.
SwoopTalent’s platform is people analytics or talent analytics technology that helps company managers and executives make better workforce decisions. Although it’s a relatively new subject in most HR departments, SAP points to recent McKinsey research that revealed 70 per cent of company executives consider people analytics a high priority.
SwoopTalent, situated in California, was founded in 2012 and uses natural language processing and machine learning to combine, evaluate, and train data from human resource systems and workflows.
It may give an organization’s entire workforce a constantly updated snapshot of their skills, capabilities, experience, interests, learning preferences, and more. Managers can use this information to link personnel to internal initiatives, learning courses, and other projects.
SwoopTalent’s algorithms, according to Amy Wilson, SAP’s senior vice president of product and design, create a profile of each employee within a company by combining data from various sources while taking into account local data regulations and employees’ consent on what information they’re willing to share.
According to Wilson, SAP will also utilize the software to link job adverts to specific skill markets. “Surfaced chances will become more individualized as an employee improves over months and years,” she said.
“A data-rich opportunity marketplace will enable people to further their careers while also providing businesses with the agility they need to transform,” she added. “Brilliant businesses are driven by people, supported by technology, and built on a solid data foundation.”
Many organizations are remaking themselves around agility, purpose, and culture, according to SwoopTalent co-founder and CEO Stacy Chapman.
“With human experience management, SAP has the proper vision and strategy to deliver technology that enables individuals to upskill and build a career that matches their interests and skills,” she said. “SAP and SwoopTalent are culturally compatible and have similar values. We’re looking forward to working together to advance human experience management.”
Chapman, fellow co-founder Satish Sallakonda, SwoopTalent’s engineering staff will all join SAP as part of the acquisition.
According to Holger Mueller of Constellation Research Inc., businesses want to know more about their employees to serve them better and put them to work.
“By purchasing SwoopTalent’s IP as well as the founders and technical team, SAP SuccessFactors is significantly enhancing its people analytics capabilities, which is critical for its entire human experience management ambitions,” Mueller added. “Now all eyes are on SAP SuccessFactors clients to see what the additional capabilities will bring.”
SAP has made two acquisitions this year, a $1.2 billion buy for German business process intelligence startup Siganvio GmbH in January.