RealTime IT News

Opus360: Winning the War for Talent

Of course, in the New Economy, there is a war for talent. However, once you get talented people, it is also difficult to manage the teams. One company is helping to provide solutions: Opus360 .

The company went public in April 2000, as the Nasdaq started to crumble. The stock is currently at $3-3/16.

But the company has some great products. They include:

Opus Xchange.com: This system helps find and manage e-business professionals. This can be highly complex, especially with the many staffing firms and freelancers. The technology also tracks vendor performance based on strategic criteria. It can cost in excess of $10,000 to procure skilled workers. With Opus Xchange, the costs fall dramatically.

FreeAgent.com: This system helps companies find reliable independent contractors, freelancers and consultants for project work.

Opus RM for Staffing: This is a front-office solution geared for staffing companies. Basically, it streamlines the whole process from resume to processing to client management. The software helps with personalization, quality assurance and management of national accounts.

Opus RM for IT Services: This system helps companies manage their project-based talent. It allows for better management of project teams, resource management, and downtime. There is also real-time project management reports.

Revenue base for Opus360 is fairly small. In the past quarter, revenues were $2.3 million, which was up from about $100,000 in the same period a year ago. The sequential growth rate was 135%. There was also deferred revenues of $5.9 million. And the cash position is healthy, with $69 million.

Actually, Opus360 has been attracting major customers. A recent deal was with Computer Science Corporation (CSC), a computer services firm that deployed Opus360 technologies at Pratt and Whitney. CSC plans other installations. There was also a deal with PeopleSoft to install FreeAgent.com.

The human capital management industry will be a growth business for many years. So far, Opus360 has positioned themselves nicely in the marketplace. By reducing its cost structure (the company has been cutting back) and also signing-up new corporate customers, the stock looks particularly attractive right now.