I know what some of you are thinking. There’s no way your chief financial offer cares about your applicant tracking system (ATS). Surely your CFO has other things to think about. But part of you was curious. Could it be true? So you clicked here to find out.
Others will already know that your CFO does care about your ATS and wants to be part of a selection process. You’ve seen through experience that your CFO wants to know the solutions you’re going with show sustainable ROI, are proven in your industry, drive growth, and protect your company from risk.
Here’s what your CFO wants to know during the ATS selection process and how to show your first choice is right for the business.
When your CFO considers a new ATS, they aren’t going to be interested in all the bells and whistles. They want to know if your ATS will give your business a sustainable advantage over competitors and make the cost of acquisition worthwhile.
According to Forrester Consulting, organizations that use the Talent Cloud saved more than $950,000 over three years. That’s a 282% return on investment by partnering with iCIMS. Forrester also found that companies:
When selecting an ATS, make sure there are solid numbers behind your choice. Your CFO will buy in to your ATS pick if the financial argument makes sense. You’re already ahead if you can pitch the project as one that will drive revenue and pay for itself.
(Note: data is drawn from Forrester’s 2020 Total Economic Impact Report.)
CFOs have a fiduciary responsibility to your business. Naturally, they’re going to be cautious about investing in new software, especially if the matter is outside their scope of expertise. Therefore, your CFO is going to gravitate toward firms with long track records of stability and expertise.
In other words, your CFO doesn’t want to be an intrepid explorer. They want someone else in the same industry, preferably with a similar workforce, business model, and challenges, to have gone first. We can hardly blame them – there’s a lot at stake and a big opportunity cost if the implementation doesn’t go well or the applicant tracking software doesn’t live up to the promises.
We’re proud to have earned the trust of more than 4,000 CFOs worldwide, including 30% of Fortune 100 companies. Incorporated in 2000, we’ve seen just about everything. Additionally, Vista Equity Partners, our largest backer, holds upwards of $73 billion in assets across a portfolio of more than 60 companies.
You can read more about our partnership with Vista Equity by clicking here.
Building a diverse organization is about more than doing the right thing or looking good in the court of public opinion. Diverse teams outperform less diverse teams. That’s a quantifiable metric.
Your CFO likely already knows diverse teams are more innovative, generating 45% more revenue, according to BCG. According to a McKinsey & Company study, organizations that rank highest in gender diversity are also 27% more profitable.
The right applicant tracking system actively promotes diversity by matching the strongest candidates to your open roles. Through the power of iCIMS’ AI recruiting software, iCIMS surfaces candidates who might otherwise have been overlooked based on their education or prior experience. The system is intelligent, unbiased, and explains the rationale behind its decision-making.
Enterprise risk management is a top priority for CFOs. That’s why it’s essential to ensure your ATS vendor prioritizes information security, legislative and regulatory compliance, and privacy and data protection.
HR concerns are business concerns. For example, take questions about your applicant tracking system’s capability to comply with local, national, and international legislation. This should matter to your HR team and system administrators, at least in terms of day-to-day operations. But your CFO is responsible for protecting the business from financial risk, and regulatory non-compliance comes with severe legal and financial penalties.
Therefore, your CFO will care a lot about procuring an ATS that prioritizes data security and privacy. Selecting the proper ATS is about more than just technology; it’s about making sure your ATS vendor has the people, global infrastructure, and support needed to minimize risk.
Our data centers and disaster readiness plans are tested regularly and designed for high availability. Here are the specs:
Want to learn more? Check out Forrester Consulting’s The Total Economic Impact of the iCIMS Talent Cloud by clicking below.