Xref Limited (ASX:XF1), the human resources technology company, today announced the transition of its services globally to the domain xref.com and the rebranding of its candidate referencing platform effective July 1, 2017.
The xref.com domain simplifies clients’ access to Xref’s platform globally, and the new brand recognises the evolution of the company and its increasing maturity.
The company also launched a new Sentiment analysis engine which provides employers with an increased sense of a candidate’s professional performance and suitability for a role. The engine leverages an algorithm which examines reference responses and rates feedback positive, negative or neutral. The algorithm offers a new method of data analysis which interprets the referee’s ‘tone of voice’ for the employer. This reduces the chance that a reference is misinterpreted and provides a new indicator to detect the possibility of fraud. Xref has filed a patent application for the system in Australia
Xref collects 60% more data five times faster than traditional methods and, by automating a vital task, protects companies from fraud, discrimination and privacy breaches. Its software as a service (SaaS) platform is used by more than 600 clients across 7 countries, including a growing base of organisations in the UK and Europe and 36% of the ASX’s top 50 companies.
“The Xref Sentiment algorithm leverages neural net technology to extend the Xref platform’s capability for employers. This provides an important new way to examine reference responses which complement our multi-language capability and helps clients make data-driven decisions when recruiting.”
Executive director / CTO Tim Griffiths
“Moving our platform to a single domain is a strategic step which recognises that many hiring processes are international and our platform increasingly serves employers in more than one country. We continue to innovate with the launch of our new Sentiment algorithm which generates a statistical breakdown of the information included in candidates’ references. This offers organisations a guide to a candidates’ suitability for the role via additional insight, which will, ultimately, assist them in making smarter, more confident hiring decisions.”
Executive director / CEO Lee-Martin Seymour
