Please tell us about your role and the team/technology at Velocity Global.
I am the founder and CEO of Velocity Global, the leading provider of global expansion solutions. I lead a global team of 240 amazing people who work for each other and for our clients every day.
Our technology is driven by people, for people. We partner with companies growing globally, supporting their employees in more than 185 countries. That requires decisions based on data, but also individual needs for a client and an employee.
HR Technology is a vast landscape. What tools and solutions are absolutely necessary to include in an Enterprise HR Tech stack?
The essentials of a modern HRIS solution allow for cloud-based management of talent acquisition, employee information, benefits, time and attendance, and professional development. We work to integrate our services into various systems to make managing global employees as seamless as possible.
Tell us about your ideal customer profile. Which geographies and industries are you targeting to grow your presence and revenue?
Our customers seek global growth for typically two main reasons: access to top talent and to grow revenue. We issue an in-depth report each year looking at reasons for global growth among 1,000 tech businesses. In our 2020 State of Global Expansion report, assessing the needs and global growth plans for 1,000 technology businesses, 62% of respondents look to expand globally to grow their customer base; 41% seek access to talent.
While tech leads the way in global expansion, clients in every industry are seeking solutions to help them grow. Particularly as remote working gains traction, more companies pursue growth through a globally distributed workforce.
How does Velocity Global help CIOs and CHROs close the gap in their HR tech ROI?
As an International Professional Employer Organization (PEO), we enable companies to move quickly and compliantly – with flexibility. We offer an alternative to setting up a foreign entity; thus, they do not need to invest in international support, payroll, and expense management in their tech stacks. We partner with companies to determine the best country and market for their needs, the best talent pool, and proper compensation and benefits to remain competitive and compliant. We handle payroll, benefits and tax withholdings to allow the company to focus on strategy in a new international market.
Role of AI ML in HR Tech
Tell us more about the role of AI and Machine Learning applications in Global Immigration and Global Talent Acquisition.
We’ve worked with clients expanding globally that are utilizing AI and ML in their recruiting process, seeking to match top global talent with their needs. Immigration and compliance are still heavily dependent on government interaction and regulation and have not progressed at the same rate as other facets of the process.
At Velocity Global, we believe in a balance between data-driven input and human interaction. We leverage studies and programs designed around hundreds of thousands of data points by organizations to influence our talent acquisition process. We start in early stages engaging with the right kind of professional for our team via social media, branding, and overall corporate image. Once candidates fully enter the recruitment process, we employ the tools based on our own experience as well the data from key partner organizations.
We are witnessing a seismic shift to AI-driven HR Tech platforms. Can you tell us more about your immediate product and marketing roadmaps?
Data connections are essential to leverage AI. The ability to combine our first-party data with that of third-party partners, creates a rich data set to forecast trends, analyze benefits and salary information, and spot compliance opportunities. Each of our clients is unique in its global strategy. Data alone cannot determine a decision. Armed with those insights, our people initiate conversations with our clients and prospective customers to tailor solutions to their needs.
AI and Machine Learning feeds insights to our Marketing team to more efficiently reach companies that could benefit from our services. Certainly Marketing is about selling our services, but it is also about educating businesses about the options available to them. We’re employing these capabilities to leverage data and increase that education.
How have HR Tech product development roadmaps evolved with the maturity of AI and Automated Machine Learning models?
AI and Machine Learning enhance data-driven optimization across organizations. These create the opportunity to automate mundane parts of the job. We can leverage AI to automate the routine and repetitive tasks to free up our incredibly talented colleagues to focus on the fun, challenging opportunities each day brings.
How do you pair the power of Human Expertise with Advanced DataScience capabilities?
Our business is people first, enabled by technology. Our business looks to our tech team to seamlessly drive the complex backend of our platform, combined with a simple user experience. We leverage data trends from experience counseling thousands of businesses on global expansion and compliance. That approach enables quicker, efficient, and meaningful human interaction, and trust in the process.
As a CEO, how do you define your relationship with the Chief DataOfficer and Privacy Officers?
Data privacy is essential to our business, our clients, and one of our core competencies: compliance. I rely daily on the expertise of our Chief Technology Officer and his team that manages client and supported employee data. They provide services across our organization, from compliance to sales. Our clients rely on our credibility to protect their data, so it is vital. We ensure that all of our decisions that involve data include the buy-in from our Privacy Officers.
Hear it from the pro: How do modern security and privacy measures impact Enterprise-grade HR Tech App platform? What are your commitments toward dataprivacy and security?
As a global organization, we adhere to the strictest regulations for data privacy and security. Certainly GDPR governs the privacy measures, but we are seeing similar regulations implemented in other geographies as well. We can only allow our systems to interact with platforms that adhere to the same standards.
What is the Future of Digital Transformation? Which technologies are you particularly keen to explore and adopt for your businesses?
Data, data and more data…
AI and Machine Learning open opportunities to gain insights that were not available to us before, and may not have even been sought. The space is moving so quickly that specific technologies are less important than the problems they are solving.