People. They stand behind every successful business. But there’s also the other side to the coin: inadequate human resource management can sentence fascinating ideas to an imminent failure. How can you avoid such an outcome, especially in the era of remote working?
Lilia Stoyanov — an angel investor and CEO at Transformify — knows how. In this interview, she explains how our product helps businesses seamlessly manage their resources and how we approach workforce management using our cooperation with Perfsol as an example.
Lilia, Transformify has already made a splash in the workforce management domain. Still, some readers might be completely new to this product. Can you specify briefly what Transformify does?
Certainly. At Transformify, we offer a suite of tools to midsize companies and enterprises striving for a smooth workforce management experience. Here’s what that implies.
First of all, these audiences are looking to easily access, attract, and navigate talent through the recruitment process. Our solution allows them to do so using our marketplace that’s brimming with independent contractors and potential employees. If they want to, they can hire talent from outside using our applicant tracking system (ATS) or simply onboard their existing resources and start managing them in Transformify.
Secondly, our business clients need to conduct candidate screening more effectively. This goes beyond having access to the professional background of an applicant and their past performance. They want to have all the information on any prior applications of the candidate at hand.
For example, there are cases when a candidate takes time to go through the interviewing process, gets the job offer, but, eventually, decides to turn it down. Or, sometimes, an applicant that successfully lands a job doesn’t even pass the trial.
Transformify helps our clients avoid these situations. Our AI-based candidate screening tool analyzes data from all business clients and applicants within our system and makes predictions on a candidate’s performance.
Eventually, after they hire a candidate, the clients need to seamlessly onboard them, assign projects, and monitor their progress while ensuring all sensitive information stays confidential and protected. Transformify allows our business clients to do so.
Besides, billing with Transformify is secure and hassle-free. Since it’s absolutely automated, our users don’t have to reconcile thousands of payments. Instead, they just get one invoice (from Transformify), and that’s it. On top of that, our users can adjust their billing policies to their needs and even set up a global payroll on-demand workflow: based on our cash flow reports, they can match the time they invoice their customers with the time the freelancers expect to be paid.
That’s what we do, in a nutshell.
Fascinating. Apart from being an all-in-one human resources management solution, Transformify boasts a huge base of a contingent workforce and potential employees. How do you attract talent?
Applicants join our marketplace mainly because it offers numerous job opportunities posted by our business clients. Once you finish a project, you can always source the next one.
Another reason why job seekers choose us is that Transformify is a GDPR-compliant marketplace where their rights are protected. We foster transparent relationships between freelancers and job providers. Documents, payments, tax returns, bonuses, invoices — nothing slips through the cracks with Transformify.
And how do freelancers learn about Transformify’s talent pool?
Actually, they come to us from a variety of channels. We regularly conduct massive marketing campaigns, have our own popular blog, and foster partnerships with a variety of organizations. That’s how potential applicants learn about us.
It’s no secret that Transformify solutions have made it a lot easier for job providers and their resources to cooperate. But what about you? How do you go about workforce management in your company?
Well, Transformify isn’t your run-of-the-mill company. We’ve been a remote-only company since 2015. Though this kind of arrangement is now commonplace, back then, even a hybrid workforce was an exotic concept, let alone entirely relying on remote teams.
Besides, we have no employees. Instead, we’re hiring freelancers and service providers with various experiences and backgrounds, taking advantage of different perspectives. On top of that, we regularly review and diversify our pool. Doing so is critical to us: even if a provider expands their knowledge and skills, they typically approach projects in a set way, unable to provide more than that. Given this, we update our resources every two years.
At the same time, we don’t hire random people but base our choices on the expertise we are missing at the moment. And since our product evolves continuously, new functionalities appear, and our customer base grows, we’re hiring all the time. Another reason why we are expanding our talent base non-stop is that Transformify is a customizable product. Our big customers come with a list of requirements and deadlines that have to be met.
So, in one of those hiring rounds, we came across Perfsol — a Ukrainian-owned IT startup, which helped us a lot.
Can you elaborate on this? Why did you choose Perfsol?
Our Symphony 5.0 developers were enhancing our freelancer management system (FMS) — a product that has existed since 2016 — with new features requested by our customers. The deadline was strict, but our existing Symphony 5.0 resources were not enough to deliver on time. So, we decided to make additional hires. We’ve evaluated ten different providers and, eventually, took Perfsol onboard since they had the necessary expertise.
What exactly did Perfsol do for you?
As part of a large pool of resources, Perfsol contributed to numerous aspects of the projects. For example, they took care of the reporting feature — we needed to customize reports for one of our clients.
Another aspect they are helping us with is email automation. It uses predefined rules to trigger and personalize email messages. For example, if someone requests a demo, we send them a message saying the request has been received and informing them about the future steps. Or when a new customer signs up with us, they receive an email guiding them on how they should use the system.
At the same time, the people who are already working for some of our clients shouldn’t be getting emails with job openings. To ensure the right people receive relevant messages at the right time, we need to continuously revise and improve these rules. This task is currently managed by Perfsol.
And what are the results of this collaboration?
We’ve been working with Perfsol for six months now, so I’ve had the time to evaluate this partnership. It proved to be successful, and they haven’t even reached their maximum capacity yet. I believe it’ll take at least one year until they do.
Can you name any figures?
I believe that the results of development can’t be measured in figures. What we should be measuring is, first of all, the quality of the code and the number of critical bugs. Another thing we should pay attention to is timeliness. And Perfsol did live up to both criteria: all critical deadlines were met, and the code quality was actually high.
How did your company benefit from this cooperation?
For us, it was important to diversify our talent and knowledge base. In this particular case, we needed Symphony 5.0 developers with expertise in reporting and email systems. And Perfsol catered to these needs, giving us exactly what we needed.
And lastly, would you recommend working with Perfsol?
Absolutely. They are truly professional, and it’s so easy to communicate with them. If there are issues, they’re open to addressing them right away.
You know, developing new code is never a smooth sail — and if I’d say otherwise, nobody would ever believe that. But what actually matters is how your vendor approaches problems. And this is something Perfsol is really good at.