Transforming recruitment for SThree
SThree plc is a leading global recruitment group specialising in STEM (science, technology, engineering and mathematics) sectors. The group operates across 16 countries and employs over 3,000 people.
SThree's vision is to be the number one STEM talent provider in the best STEM markets.
Background
SThree's vision is to be the number one STEM talent provider in the best STEM markets. To achieve this, the company faced several challenges in its IT and technology landscape.
SThree had a complex and fragmented system of multiple technologies, including Salesforce as its CRM and applicant tracking system, SAP as its ERP and financial platform, and various point solutions for different functions and regions. These systems were not well integrated, resulting in data silos, duplicated work, manual processes, and alack of visibility. They were also costly to maintain and upgrade, and did notsupport the group's growth and innovation strategy.
SThree needed a comprehensive, scalable solution that would unify the business on a single platform, streamline workflows, automate tasks, and improve performance. The company also wanted a solution that would enable it to leverage artificial intelligence and automation to improve sales effectiveness, candidate and client engagement, and invoice accuracy. In addition, SThree wanted a partner to support its digital transformation journey and provide ongoing guidance.
Solutions Provided
After a lengthy RFP process, SThreeselected Mercury in 2022 as its global provider of recruitment technology.Mercury is a cloud-based platform that offers end-to-end solutions for the recruitment industry, covering CRM, ATS, analytics, and more. It also uses AIand automation to optimise the recruitment process and drive business outcomes.
Mercury worked closely with SThree to understand its business needs and goals, and customised the platform to suit i ts requirements and preferences. Mercury also provided a dedicated team of experts to support implementation, user training, and change management. The project involved migrating all of SThree's data and processes from its legacy systems to Mercury, while integrating the platform with existing tools and applications. The rollout was phased, starting with the US region, followed by Germany, the UK, Europe, and Asia-Pacific.
Unified Platform
Mercury provides a single source of truth for all of SThree's data and processes, eliminating silos and redundancies while enabling seamless collaboration and communication across teams, regions, and channels. It also offers a consistent and intuitive user experience, reducing the learning curve and increasing user adoption.
Streamlined Workflows
Mercury automates and simplifies many of SThree's core workflows, including lead generation, candidate sourcing, job matching, interview scheduling, contract management, invoicing, and reporting.The platform also allows SThree to customise and configure workflows according to its specific needs and preferences, supporting both compliance andefficiency.
AI-Powered Insights
Mercury harnesses AI and machine learning to provide SThree with actionable insights and recommendations that enhance decision-making and performance. For example, it uses natural language processing and semantic search to analyse CVs and job descriptions and match the best candidates to relevant opportunities. It also uses predictive analytics and sentiment analysis to identify and prioritise profitable, loyal customers and recommend the best ways to engage and retain them.
Enhanced Performance
Mercury helps SThree improve key performance indicators and business outcomes, including sales revenue,placement rate, candidate and client satisfaction, and invoice accuracy. Italso provides real-time dashboards and reports that track performance, measure progress, and highlight areas for improvement and opportunity.
Outcome
The implementation of Mercury has delivered significant benefits and value for SThree and its stakeholders. Keyoutcomes and achievements include:
Increased Sales Effectiveness
By using Mercury's AI and automation features, SThree's recruiters can focus more on building relationships and delivering value to candidates and clients, rather than spending time on administrative and repetitive tasks. Mercury also guides daily activities with smart suggestions and prompts to optimise productivity and results. As aresult, SThree has seen increases in sales conversion rate, placement rate, and average deal size.
Improved Candidate and Client Experience
Mercury helps SThree deliver a personalised and engaging experience for candidates and clients byunderstanding their needs, preferences, and behaviour, and by sending relevant,timely communications. The platform also helps maintain and nurture relationship sthrough feedback, updates, and follow-ups. As a result, SThree has seen improvements in candidate and client satisfaction, retention, and loyalty.
Reduced Operational Costs and Risks
Mercury reduces SThree's operationalcosts and risks by replacing multiple disparate systems with a single integrated platform and by automating and streamlining key processes. It also helps ensure compliance with regulations and standards, including GDPR, ISO,and SOC, by providing security, privacy, and audit capabilities. As a result,SThree has seen reductions in IT spending, maintenance, and downtime, alongwith fewer errors, less fraud, and fewer disputes.
Enhanced Invoice Accuracy
One of SThree's biggest challenges was low first-time invoice accuracy, which had been around 26%. This created significant rework, delays, and disputes, affecting cash flow and reputation.Mercury addressed this by automating and validating the invoicing process and integrating with financial systems and payment gateways. It also provides alerts and notifications for discrepancies or issues, enabling them to be resolved quickly and efficiently. As a result, SThree has increased first-time invoice accuracy to above 90%.