| Business Basics |
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| Company Name |
ITCONS e-Solutions |
| Founded in |
2007 |
| Headquartered in |
Noida |
| Company website/URL |
www.itconsesolutions.com |
| Industry |
IT/ Internet/ Software |
| Stage of the company |
Several customers or locations |
| Source of idea |
Systematic search for business opportunity |
| Awards & honors |
N.A. |
| Partnerships & Tie-ups |
Since we can't afford to have our own marketing offices in every place, we are establishing partnerships with regional companies for marketing on reve...> Read more.. |
| Partnerships & Tie-ups |
Since we can't afford to have our own marketing offices in every place, we are establishing partnerships with regional companies for marketing on revenue sharing basis. We have signed MOUs with 2 companies so far. Because of this, we now have our foot print in Hyderabad as well. We are actively looking for partners across all major cities who will like to work with us on revenue sharing basis. Akanksha LLC is our technology partner.
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| Business description |
| ITCONS develops software products meant for the recruitment and HR space - software tools that empower companies to automate, streamline and optimize their recruitment and Staffing functions resulting in higher productivity of the sourcing team, lesser cost of operations and hence a stronger top/bottom line. ...> Read more.. |
| ITCONS develops software products meant for the recruitment and HR space - software tools that empower companies to automate, streamline and optimize their recruitment and Staffing functions resulting in higher productivity of the sourcing team, lesser cost of operations and hence a stronger top/bottom line.
These powerful tools are not only meant for staffing and search agencies but for corporates too. More than just an Applicant Tracking System, the Solution is powered and packaged with Resume Parser(putting unstructured candidate data from various file formats into structured data), Applicant Tracking using keyword and semantic search, Billing management, Vendor management, Timesheet entry system, Communications management, Reporting and scheduling etc into one powerful and affordable tool called as "Recruitment Relationship Management suite". It helps corporates and staffing companies harness the power of the centralized database in a distributed environment. Bid good bye to antiquated ways of resume management.
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| How does the business make money? |
| Since the product will eventually solve problems (conversion of unstructured data into structured one) on a global perspective irrespective of industries, there is a big market scope.
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| Team information |
| Ujjwal Prakash Mittal - Director
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| Competition |
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| Competitors |
Major competitors are HireCraft, CBIZONE and ResumeFox.
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| How different is your product or service? It has... |
Substitutes that differ in function |
| In what way is your product or service different? |
Functionality rich and niche in several functionalities like Intelligent Concept Search - ICS (based on auto taxanomy, words semantics) options which ...> Read more.. |
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| By The Numbers |
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2006 |
2007 |
| No. of employees |
Did not exist |
6-15 |
| No. of locations |
Did not exist |
2-5 |
| No. of customers |
Did not exist |
2-5 |
| Turnover |
Did not exist |
11-50 lacs |
| Profits |
Did not exist |
1 to 5 lacs |
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| Primary source of initial funding |
Personal savings |
| Primary source of additional funding |
Personal savings |
| Raised institutional capital? |
No |
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| Why is this startup hot? |
| The growth and surge of recruiting companies and an ever tightening economy has generated tremendous competition for new market share and customers. Finding the exact candidate is not only difficult for corporates but for manpower companies too. To find a potential candidate, there are various ways like job portals, advertisements, head hunting and referenc...> Read more.. |
| The growth and surge of recruiting companies and an ever tightening economy has generated tremendous competition for new market share and customers. Finding the exact candidate is not only difficult for corporates but for manpower companies too. To find a potential candidate, there are various ways like job portals, advertisements, head hunting and referencing etc but ultimate success depends on how well the candidate details are being maintained by companies. Even the most popular online search portals do not provide solutions to manage the offline resumes and candidates records. Most of the organizations use Excel as a tool for managing candidate records; some have gone a step ahead and have developed applications. Since application development is not the core business function of recruitment companies, these applications do not help much in meeting the needs.
Our solution comprises of a unique resume parsing utility which helps by putting all the required candidate information into a centralized database from candidates' resumes in various formats, without any manual effort. Our comprehensive search option on various parameters makes the search easy.
We are coming up with Intelligent Concept Search (ICS). Search on Keyword finds resumes where as ICS will find suitable prospective employees/candidates by matching profiles and not just the keywords only.
When the ICS will find a keyword, it will then evaluate all of the relevant criteria based on AI provided, and investigate the context, values and meaning of the keyword, to evaluate whether the keyword is an actual match or just a false positive.
In addition, the ICS will provide powerful pinpoint search capabilities to recruiters to perform interactive searches. This means ICS will provide High Recall and High Precision resumes, Contextualization; finding hidden relationships between job description and resume with in-system, dynamic and static summaries for search results.
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| What keeps the team awake at night? |
| My team is passionate about the niche product we have developed. I would not hesitate to say that my team's vision is aligned to my vision. Since we can't afford to have a bigger marketing team because of money crunches, my core technical team is helping me in marketing efforts as well. They try to ensure that each person that we give demo of the product to, becomes our client. Since managing cash flows for a startup is a big challenge, my team understands this well and is available on a24*7 basis to make our efforts a big success. Soon we plan to come out with the Intelligent Concept Search (ICS).Our team in India is working till mid night with Ujjwal (Co-Founder), who is based in USA and is main person behind the show.
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