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 Company: Fieldglass, Inc., Chicago, Illinois
Company Description: Fieldglass, a leading provider of contingent workforce management and services procurement solutions, combines technology innovation with industry expertise providing solutions for such industries as financial services, manufacturing and pharmaceutical. Fieldglass' solutions are based on its InSite application, designed to optimize contingent labor procurement and management processes.
Nomination Category: Company & Office Categories
Nomination Sub Category: Most Innovative Company in North America
Nomination Title: Fieldglass - IBA Most Innovative Company Entry
1. Tell the story about what this nominated company achieved in the past year (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
Fieldglass is a leading provider of software that helps companies manage the
acquisition of contingent workers and services globally; which is proving to
be one of the most critical business sectors in the US for macro-economic
growth and stability. The company views a pioneering spirit as a core value
and in 2006 realized achievements in three areas: (1) operations; (2)
technology; and (3) globalization.
Operations
Per plan, Fieldglass was rewarded in 2006 with the company’s first year of
sustainable positive net income and cash flow; the first in its industry.
This fiscal achievement signaled the transition from startup to market
stalwart. The achievement of positive cash flow followed other noteworthy
developments:
? Revenue for the company increased over 4,000% during the last 5 years
driven largely by a blue chip customer list including many Fortune 500
companies.
? More than half of the new customers in 2006 can also be found on the
Fortune 500 list and include companies from diverse industry segments such as
healthcare, insurance, IT services, local government and motor vehicles and
parts.
? Fieldglass has increased headcount substantially in recent years,
hiring seasoned professionals with critical industry experience including a
new EVP of professional services. A further headcount increase of nearly 30%
is budgeted for 2007 to support future growth.
Technology
Fieldglass delivers its solution, InSite, in the state-of-the-art Software as
a Service (SaaS) model – an on-demand delivery method leveraging multi-tenant,
single-instance architecture. Essentially, SaaS provides a level of
nimbleness not available in software that must be installed at each client
site. For instance, Fieldglass can continuously update InSite and roll-out
new features to all clients and users at the same time; providing clients the
opportunity to benefit immediately, upon release, from the new and improved
functionality such as that offered to support global labor procurement.
Globalization
Late 2005, Fieldglass began globalizing its technology platform to meet a
quickly growing client demand. Customers are becoming more global at an
exponential rate and need a labor acquisition solution that works across
multiple locales. Today, InSite is localized for Ireland, UK, Belgium,
Netherlands, France, Germany, India, Australia with China, Japan and Mexico
nearing completion.
Fieldglass has invested in a holistic approach in understanding the diverse
globalization requirements. This approach is unlike any other in its industry
and addresses global labor procurement practices with anticipation for future
requirements:
? A separate team was created within the company to focus solely on
globalization.
? This team works with international law firms that have a presence in
the targeted countries, to ensure compliance with local regulations
? Local partners, suppliers and clients are leveraged to ensure a
thorough understanding of relevant local practices and cultural nuances.
? The company opened an office in London to support European operations.
2006 was an excellent year for Fieldglass and 2007 holds all the promise of
another exponential growth year. Yet the single most compelling reason to
consider Fieldglass the Most Innovative Company boils down to market need. A
unique confluence of events including increased global competition, baby
boomer retirement rates and economic expansion are leading to tectonic shifts
in the way work gets done. Companies need help navigating the available
global talent pool in the tightening U.S. labor market, and Fieldglass
provides a market-proven solution.
2. List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://www.fieldglass.com/news_pr.htm
http://www.fieldglass.com/resources_cs.htm
http://www.fieldglass.com/resources_brs.htm
http://www.fieldglass.com/pr/01_17_07_2006_Performance.htm
http://www.fieldglass.com/pr/11_02_06_Globalization_Trends06.htm
http://www.fieldglass.com/pr/03_16_07_ProToKnow.htm
3. Provide a brief (up to 100 words) biography about the leader of this nominated company:
Fieldglass CEO Jai Shekhawat is among the foremost thought leaders in the
field of global workforce management. In support of his efforts for true and
progressive global workforce management, Mr. Shekhawat provides vision and
leadership that ensures Fieldglass continues to deliver value to customers and
maintains its position of technology leadership. He is also a frequent
speaker at industry events and has published several articles and papers on
global sourcing of talent and services.
Mr. Shekhawat has more than 18 years of experience with entrepreneurship,
executive management, software development, information technology and
management consulting. He holds a master’s in business administration from
the J.L. Kellogg School of Management at Northwestern University in Evanston,
Illinois; and a bachelor’s degree in management science from the Birla
Institute of Technology and Science, Pilani, India.
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