Visier, the globally recognized leader in people analytics and workforce solutions for people-powered business, announced highlights from the second quarter of its fiscal year, which ended on July 31, 2024. Among many notable Q2 achievements, including breakthrough financial performance, one dominant theme emerged: Visier’s Open for Builders initiative is catalyzing innovation in the use of people data to solve some of today’s most pressing workforce and business challenges.
Notable among the company’s many Q2 achievements include:
- Highest gross revenue retention (GRR) and new bookings growth in Visier’s 14-year history
- Launch of notable embedded partnerships with SmartRecruiters and The Access Group expanding people analytics and generative AI capabilities to thousands of new customers and tens of thousands of new users
- Rapid customer and partner adoption of Vee, Visier’s generative AI digital assistant; and Visier People Extend, which allows third-party customization and innovation atop Visier’s People Data Platform
“Despite the current economic environment, marked by intense budget scrutiny and tech stack consolidation, Visier realized its best ever first-half results,” said Ryan Wong, co-founder and CEO of Visier. “This is a testament to the extraordinary relevance of our value proposition to companies under pressure to drive efficient growth in increasingly difficult labor markets and operating environments. Our second quarter highlights the momentum we are driving to deliver value in a way no one else can—delivering real-time people data insights through both our applications and our embedded businesses, and in the process, helping companies improve workforce productivity and impact on business outcomes.”
Highlights from Visier’s second quarter of 2024 include:
Business Momentum
Visier People ® Applications Business
Visier achieved its highest ever new bookings growth through the first half of 2024. The team closed many new logos in the second quarter including large enterprise organizations leading the way in retail, financial services, technology and manufacturing. Visier also secured its highest gross revenue retention (GRR) in the company’s 14-year history through contract renewals with dozens of the world’s largest organizations, including one of the world’s most recognizable health and beauty brands.
Visier Embedded Analytics
The strength of Visier’s People Data Platform attracts leading SaaS HR Tech providers to build analytic and generative AI applications on its foundation. Visier announced several high profile embedded partnerships throughout the quarter, expanding Visier’s customer count to over 60,000 unique organizations worldwide and millions of users.
Product Momentum
Visier’s Open for Builders
Visier announced its Open for Builders initiative in the first quarter of this year to much acclaim from customers and partners at the company’s annual Outsmart event in Scottsdale, Arizona. Through this multi-year initiative, Visier’s goal is to catalyze broad innovation with people analytics and generative AI by delivering the data, the tooling and the community know-how to build a groundswell of innovation only limited by imagination. In addition to Visier’s focus on delivering open and extensible people data platform technology, Open for Builders includes comprehensive resources for builders to quickly ramp, including 14 new courses from Visier University, all available free of charge.
Visier’s enterprise customers have adapted and extended Visier to answer a longtail of domain-specific workforce questions that have deep connection to business performance.
For example, an integrated healthcare provider is combining demand data with staffing data to increase surgical capacity; while a retail organization has grown revenues by combining point of sale data with learning, retention, and other workforce data to understand, codify and replicate the drivers of successful sellers across their stores. Propelled by ongoing innovation, Visier customers are empowered to quickly and strategically align their employee analytics with key business priorities.
Visier’s embedded business, which serves independent software vendors (ISVs), has also benefited from these Open for Builders investments. Using Visier’s People Data Platform, the following partners were able to quickly deliver additional value to their customers—Visier’s unique analytics and AI capabilities—without diverting resources from their core business:
- SmartRecruiters, an enterprise talent acquisition software provider, built an advanced analytics solution on Visier’s People Data Platform, allowing their customers to seamlessly integrate advanced data solutions into their workflows.
- The Access Group, one of the leading providers of business management software to organizations in the UK, Ireland, USA and Asia Pacific, built their new AI-assisted PeopleXD Evo and PeopleHR Evo suites on Visier’s People Data Platform, empowering customers with robust people analytics insights.
- Mesh.ai, an India-based talent management start-up, was seeking a data platform to provide data warehouse components and a powerful visualization layer. Mesh.ai leveraged Visier’s People Data Platform to embed new calculations and visualizations as well as power their own natively built visualizations. To match their project scope, Mesh.ai drove most of the project using Visier’s Developer Community, developer site, Visier University and support teams.
- Paycor has expanded their use of Visier’s People Data Platform to include Vee for Partners, a solution that allows partners to integrate Visier’s specialized generative AI into their own application. Paycor quickly completed the build, and with Visier’s help, launched their new integrated generative AI solution to more than 2.1 million users.
Visier’s Vee Continues to Evolve and Scale
In the first quarter of 2024, Visier shipped Vee, its generative AI digital assistant for people insights to enterprise prospects and customers and also launched Vee for Partners to embedded partners. Since the commercial launch, sales of Vee have grown dramatically with dozens of global enterprise organizations in the pharmaceutical, technology, manufacturing and retail industries scaling the AI digital assistant across their companies. As detailed above, numerous embedded partners have integrated Visier’s generative AI solution into their products, scaling its impact to millions of users worldwide.
“When a leader realizes how easy an HR-owned system is to use it improves how people feel about how strategic HR can be,” said Reed Olson, director of people analytics and HR technology, HD Supply, a Visier customer and Vee user. “If people within the organization can get information themselves, the people analytics team can spend more time on the training. We can focus on training people how to interpret those insights so they become self-sufficient.”
Support for Data Science and the EU Pay Transparency Directive
Visier’s Open for Builders initiative also extends to data science teams globally to support work in artificial intelligence, machine learning and even compliance. Visier introduced a transparent and rigorous data science pathway as a solution to the recently passed EU Pay Transparency directive where many enterprises now find themselves within a two year deadline of new reporting regulations. The solution uses regression analysis to calculate the adjusted pay gap, controlling for justifiable differences in qualifications, experience, and productivity, allowing organizations to meet the reporting requirements of the directive.
“Previously, our process was manual and highly labor-intensive, involving extensive data extraction with other tools, resulting in outdated or inconsistent data, making it challenging to identify and address any potential pay gaps,” said Catherine De Lannoy, director, organization effectiveness & strategic workforce planning at Bekaert, a Visier customer. “With Visier, we have streamlined this process by integrating our HR systems into one unified platform, extracting real-time data, and leveraging advanced analytics to identify potential pay gaps and provide actionable insights for addressing them.”
Recognition and Partner Momentum
Visier Awarded Best AI-based Solution for Human Resources
Visier’s Vee was recognized by the AI Breakthrough Awards as the Best AI-based Solution for Human Resources for 2024. Now in its seventh year, the awards recognize the world’s most innovative companies, technologies and products in the Artificial Intelligence industry today. The full list of winners can be found here.
Visier Featured in Microsoft Customer Case Study
Visier’s Vee runs on Microsoft Azure AI infrastructure. Microsoft chose to capture this commitment to deliver workforce analytics and actionable insights in a highly secure, reliable, enterprise context by featuring Visier in a Microsoft customer story.
Vee integrates into Microsoft Teams and can now be found on Microsoft’s app store.
Visier Extends the Impact of its Workforce Benchmark Data Through a Partnership with The Josh Bersin Company
Two of Visier’s unmatched industry benchmark data sets are now available to human capital advisory firm The Josh Bersin Company’s corporate members. Visier provides these same sets through its Open for Builders initiative, via API or flat file to help them quickly enrich their existing data.
Market-Moving Insights: Research & Thought Leadership
Visier’s Research Finds 87% of People Managers Want AI Tools to Make Their Jobs Easier
Visier released Managers Know AI Tools Make Them More Effective, Can HR Deliver?, a report derived from a survey of more than 750 people managers globally across the U.S., UK, Germany, Netherlands and Switzerland, revealing the clear finding that generative AI-powered tools can empower them to become better leaders.
Visier’s Monthly Resignation Report
Based on over 23 million anonymized employee records and Visier’s advanced analytics, this report provides the most accurate view into employee resignation rates available today, and months ahead from similar data available through the U.S. Bureau of Labor Statistics (BLS).
Explore HRTech News for the latest Tech Trends in Human Resources Technology.
