Last week, Benefit Technology Resources’ (BTR) own Josh Hoover, Director of Client Relations & Strategic Initiatives, and Cristin Jamba, Benefits Administration Relationship Manager, attended the Ascentis Engage Conference in Las Vegas. Both Josh and Cristin participated in Partner Day prior to the conference beginning and received a lot of good information about the growth trajectory of the Ascentis organization, as well as roadmap items for the platform.
Key Standouts: Stats and Products
One of the biggest facts that stood out was that 30% of current headcount is dedicated to software development due to the acquisition of Ascentis by Summit Partners (who has a history of taking tech companies public). This is a significant number, especially when comparing to the market average, which is fewer than 10%. Ascentis is looking to grow their client base while scaling the technology at the same time so that 30% will certainly decrease as new sales and support resources are added.
From a product standpoint, the most notable development happened in September 2018 with the acquisition of NOVAtime. This is still significant because it continues to validate the fact that standalone HCM solutions are just not built to be all things to all people. Ascentis felt they had a more robust need around Time & Attendance, and they went and got it. The roadmap items discussed for NOVAtime are around new timeclocks with a lot more functionality built in, as well as discussions about some potential Artificial Intelligence capabilities around the Time & Attendance platform that are in development. The roadmap showed attendees new & exciting ideas, such as facial recognition that can automatically change the cost center for an employee who physically moves to different retail departments throughout the day. This technology could ease a significant burden on the employee as well as the Manager and HR Administrator needing to validate hours. Beyond Time & Attendance were the releases of a new User Interface, more robust reporting functionality (including Manager level reporting based on user access coming in Q3), new analytics, and customizable dashboards. They are also in the process of developing a proprietary Applicant Tracking System geared for groups with fewer than 1,000 employees.
BTR Presented on the Top 5 HR Tech Trends of 2019
On day 3 of the event, Josh Hoover presented to the attendees about the Top 5 HR Tech Trends of 2019. This presentation covered the latest news and developments in HR Tech Data Analytics, Artificial Intelligence, Point Solutions, Layering Technology, and Marketplaces. One question that was brought up with the discussion around Analytics was if there is a developing need for more HR Data Analysts—we absolutely believe there is. Many universities are even offering degrees in Analytics, so this is definitely a developing market.
This was a very good partner and users conference and we are happy two team members were able to attend on BTR’s behalf. We would love to know what sticks out most to you about this conference and if we can provide any more details for you. Send your thoughts to our Project Team or reach out to us on Twitter!