RecruitPlus

Online Resume Parser & Applicant Tracking System with Intelligent Concept Search

ITCONS has presence in Mumbai now. May 28, 2010

Filed under: Uncategorized — Gaurav Mittal @ 1:47 PM

We are happy to announce our presence in Mumbai now. Mumbai office is responsible for sales and marketing activities along with support for our RecruitPlus applications suite for areas in and around Mumbai and Pune.

Our address of Mumbai is:

C-5, Fountain Chambers,
3rd Floor, Nanabhai Lane,
Fort, Mumbai – 400023,
Landmark: Akbarallys.

Clients from Mumbai & Pune looking for demo/purchase of RecruitPlus Resume management software can call our Business Head, Akar Parekh, Tel: +91- 98216 02204; Email: akar.parekh@itconsinc.com

Office Telephone: +91-22-4023 1946/1983.

We will be happy to assist.

 

Looking for Sr. Sales & Marketing Executive to be based in Noida office. May 4, 2010

Filed under: Uncategorized — Gaurav Mittal @ 5:40 AM

We are looking for Sr. Sales & Marketing Executive to be based in Noida office.

Click http://lnkd.in/w5KQxw to see the Job description

 

http://openballotbox.com – A solution to create an Online Opinion Polls, Surveys, Elections or Elections with Surveys. December 28, 2009

Filed under: 7530429 — Gaurav Mittal @ 2:14 PM
Tags: , ,

Openballotbox.com (A product of ITCONS e-Solutions Pvt Ltd) users have access to a variety of voting and surveying services that are reasonably priced. You can create elections and Poll/surveys with controlled voter lists, limit voting times, track voting progress, check voter participation, and tabulate results. In addition, results are displayed in a variety of formats and can be exported to CSV (comma-delimited) format for processing in Excel etc.

What we offer:

The site has proven to be a great tool for Any business corporation to conduct various polls, survey etc or even seek an online feedback from target audience on various topics. As an admin of the Poll/Survey/Election, Election admin has a complete control to define the voting users for his/her survey or Election. There is no limit to the number of voters who may participate. Openballotbox.com sends each voter a registration code that can only be used once. The system has been designed with security in mind.

We also offers an election virtual-hosting service whereby companies who focus on a certain market may rent out our election capabilities. Under the terms of this service, the customer may offer Openballotbox.com election services through its own website.

History & Purpose:

Hierarchical organization structures are fine and good; Humanity needs them for many reasons. However, some decisions are best made by the people they affect. Openballotbox.com hopes to enable and facilitate democratic processes for the world.

Besides elections, Opinion polls and surveys play an important role in any democratic process. Market assessments and opinion polls are often useful in satisfying customers and constituents. Openballotbox.com makes it easy to survey a controlled group of people, track response rates, etc. Hopefully, this will make it possible for elected officials and companies to listen to the voice of the people and work towards meeting the demands.

What do we need from centers/Franchisee?

We need centers that are good in sales of IT services and product on revenue sharing basis.  Since this a global campaign; we are looking for multiple centers across locations doing localized calling.

The customer of this product could be a school/college/university/media-marketing company/any business corporate/any housing society or even any individual who would want to conduct some poll/survey or election electronically and hence there is a big market for this product. We have seen the conversion ratio as good as 40% with call centers with people having good communication and sales skills.

Should you think, you would be interested to know more, reach us by sending us mail at contact us or welcome@openballotbox.com.

 

Port ‘8081’ is not required anymore for Resume Parser. December 2, 2009

Filed under: 7530429 — Gaurav Mittal @ 9:13 AM
Tags: ,

New Version of RecruitPlus Resume Parser is now available on port 80 itself; No need to request your IT to open port 8081.

Just Click http://rplusresumeparser.recruitplus.co.in and enjoy parsing.

The application requires .net frame work 2.0 or higher version to be installed on PC. Download the following and run them before you parse the resumes.

1) Microsoft .net framework 2.0

2) Microsoft VC redistributable component

3) Microsoft Interop for MS Office 2003

(If you have MS-OFFICE 2003 installed) – This file will first extract one executable, which needs to be run and installed.

Or

3) Microsoft Interop for MS Office 2007

(If you have MS-OFFICE 2007 installed) – This file will first extract one executable, which needs to be run and installed.

You can refer to help file available on http://Onlineresumeparser.com/HELP/index.htm to get an online help on parsing utility.

Wishing you an enjoyable RESUME PARSING.

 

ITCONS e-Solutions is shortlisted for NASSCOM innovation Award 2009 November 19, 2009

Filed under: 7530429 — Gaurav Mittal @ 2:20 PM
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ITCONS e-Solutions is shortlisted for NASSCOM innovation Award 2009 for it’s products called Resume parser and Intelligent Concept Search.

Introduced in 2004 for the first time, the NASSCOM Innovation Awards have grown into a prestigious platform, which recognizes the best innovators in the Indian IT-BPO industry. The awards recognize organizations that have made innovation a part of their DNA and developed extraordinary and pioneering products and services. Over the past years, the awards have been presented to the winners at the prestigious NASSCOM India Leadership summit held in Mumbai, by none other than former President of India, APJ Abdul Kalam and Prime Minister, Manmohan Singh.

The start-up category, introduced in the 2007 edition, seeks specifically to promote the entrepreneurial community and provide them with recognition and visibility, The 2008 edition saw us bring in a Knowledge Partner in the form of BCG, which brought in enhanced robustness to the selection process and also saw the awards go online for the first time.

The 2009 edition, the sixth of the awards series will see a media partner for the first time. ET NOW will telecast editorials featuring the winners, process and jury for the awards.

 

Monster.com has rolled out its Trovix-powered Power Resume Search November 5, 2009

Filed under: 7530429 — Gaurav Mittal @ 1:42 PM
Tags: ,

Monster.com has rolled out its Trovix-powered Power Resume Search based on semantics in the US, a technology which helps scan resumes and job openings for better matching. Trovix was acquired by Monster for a cash price of $72.5 millions.


ITCONS will launch prototype of a semantics technologies based similar search product called Intelligent Concept Search (ICS) in Jan’ 2010.

ICS will work with our ATS/ with any Online Job Portals/ any Other ATS of any competitor to provide advanced searching and matching capabilities between a source document and candidates. The source document can be a resume of a candidate, JD (Job description) or even free text.

•           Use resumes /CVs as source document:

In some cases, a resume (irrespective of the resume format; doc, docx, rtf, PDF, HTML or text etc) of an existing employee or of an “ideal candidate” in database may be a good source document to use for finding similar candidates. The ICS will use resumes/CVs in a structured text converted by our resume parser.

•           Use job description as source document:

Job description, in structured text form (converted by our parser from various formats like doc, docx, rtf, PDF, HTML or text etc) can be used as source documents for the ICS.

Looks like Monster deal is helping ITCONS indirectly to get a good valuation 🙂

 

Business Valuation Methods October 28, 2009

Filed under: 7530429 — Gaurav Mittal @ 8:44 AM

Following are the some of the business valuation methods:

i. Discounted Cash Flow (DCF) Method:

The Discounted Cash Flow (DCF) methodology expresses the present value of a business as a function of its future cash earnings capacity. This methodology works on the premise that the value of a business is measured in terms of future cash flow streams, discounted to the present time at an appropriate discount rate.

This method is used to determine the present value of a business on a going concern assumption. It recognizes that money has a time value by discounting future cash flows at an appropriate discount factor. The DCF methodology depends on the projection of the future cash flows and the selection of an appropriate discount factor.

When valuing a business on a DCF basis, the objective is to determine a net present value of the cash flows (“CF”) arising from the business over a future period of time (say 5 years), which period is called the explicit forecast period. Free cash flows are defined to include all inflows and outflows associated with the project prior to debt service, such as taxes, amount invested in working capital and capital expenditure. Under the DCF methodology, value must be placed both on the explicit cash flows as stated above, and the ongoing cash flows a company will generate after the explicit forecast period. The latter value, also known as terminal value, is also to be estimated.

The further the cash flows can be projected, the less sensitive the valuation is to inaccuracies in the assumed terminal value. Therefore, the longer the period covered by the projection, the less reliable the projections are likely to be. For this reason, the approach is used to value businesses, where the future cash flows can be projected with a reasonable degree of reliability. For example, in a fast changing market like telecom or even automobile, the explicit period typically cannot be more than at least 5 years. Any projection beyond that would be mostly speculation.

The discount rate applied to estimate the present value of explicit forecast period free cash flows as also continuing value, is taken at the “Weighted Average Cost of Capital” (WACC). One of the advantages of the DCF approach is that it permits the various elements that make up the discount factor to be considered separately, and thus, the effect of the variations in the assumptions can be modeled more easily. The principal elements of WACC are cost of equity (which is the desired rate of return for an equity investor given the risk profile of the company and associated cash flows), the post-tax cost of debt and the target capital structure of the company (a function of debt to equity ratio). In turn, cost of equity is derived, on the basis of capital asset pricing model (CAPM), as a function of risk-free rate, Beta (an estimate of risk profile of the company relative to equity market) and equity risk premium assigned to the subject equity market.

ii. Balance Sheet Method or the Net Asset Value Method:

The Balance sheet or the Net Asset Value (NAV) methodology values a business on the basis of the value of its underlying assets. This is relevant where the value of the business is fairly represented by its underlying assets. The NAV method is normally used to determine the minimum price a seller would be willing to accept and, thus serves to establish the floor for the value of the business. This method is pertinent where:

• The value of intangibles is not significant;
• The business has been recently set up.

This method takes into account the net value of the assets of a business or the capital employed as represented in the financial statements. Hence, this method takes into account the amount that is historically spent and earned from the business. This method does not, however, consider the earnings potential of the assets and is, therefore, seldom used for valuing a going concern. The above method is not considered appropriate, particularly in the following cases:

• When the financial statement sheets do not reflect the true value of assets, being either too high on account of possible losses not reflected in the balance sheet or too low because of initial losses which may not continue in future;

• Where intangibles such as brand, goodwill, marketing infrastructure, and product development capabilities, etc., form a major part of the value of the company;

• Where due to the changes in industry, market or business environment, the assets of the company have become redundant and their ability to create net positive cash flows in future is limited.

iii. Market Multiple Method:

This method takes into account the traded or transaction value of comparable companies in the industry and benchmarks it against certain parameters, like earnings, sales, etc. Two of such commonly used parameters are:

• Earnings before Interest, Taxes, Depreciation & Amortizations (EBITDA).
• Sales

Although the Market Multiples method captures most value elements of a business, it is based on the past/current transaction or traded values and does not reflect the possible changes in future of the trend of cash flows being generated by a business, neither takes into account the time value of money adequately. At the same time it is a reflection of the current view of the market and hence is considered as a useful rule of thumb, providing reasonableness checks to valuations arrived at from other approaches. Accordingly, one may have to review a series of comparable transactions to determine a range of appropriate capitalization factors to value a company as per this methodology.

iv. Asset Valuation Method:

The asset valuation methodology essentially estimates the cost of replacing the tangible assets of the business. The replacement cost takes into account the market value of various assets or the expenditure required to create the infrastructure exactly similar to that of a company being valued. Since the replacement methodology assumes the value of business as if a new business is set, this methodology may not be relevant in a going concern. Instead it will be more realistic if asset valuation is done on the basis of the new book value of the assets. The asset valuation is a good indicator of the entry barrier that exists in a business. Alternatively, this methodology can also assume the amount which can be realized by liquidating the business by selling off all the tangible assets of a company and paying off the liabilities.
The asset valuation methodology is useful in case of liquidation/closure of the business.

v. Liquidation Value:

Liquidation value uses the value of the assets at liquidation. Liabilities are deducted from the liquidation value of the assets to determine the liquidation value of the business. Liquidation value can be used to determine the bare bottom benchmark value

vi. Capitalization methods :

This method calculates a business’s value by discounting the future business profits or dividends flowing to the entity’s owners, which is derived from future commercial profits (statement of earnings). There are two methods:

INCOME CAPITALIZATION VALUATION METHOD: First determine the capitalization rate – a rate of return required to take on the risk of operating the business (the riskier the business, the higher the required return). Earnings are then divided by that capitalization rate. The earnings figure to be capitalized should be one that reflects the true nature of the business, such as the last three years average, current year or projected year. When determining a capitalization rate, compare with rates available to similarly risky investments.

DIVIDEND CAPITALIZATION: Since most closely held companies do not pay dividends, when using dividend capitalization consultants first determine dividend paying capacity of a business. Dividend paying capacity depends on net income and on cash flow of the business. To determine dividend paying capacity, near future capital requirements, expansion plans, debt repayment, operation cushion, contractual requirements, past dividend paying history of a business should be studied. After analyzing these factors, percent of average net income and of average cash flow that can be used for the payment of dividends can be estimated. The dividend yield can be also determined by analyzing comparable companies.