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Craig: We use the term recruiting exchange. We help recruiters who are trying to find people for their clients to network with other recruiters who might have those candidates.
Most recruiters only place one or two percent of the people they come in contact with. What do you do with all those other resumes? Well, a recruiting exchange enables you to work with other recruiters who can put those people to work.
Animal: Now the vehicle for communication between the members of your exchange is called Talent Trader. But you've also got something called ALEX which is a resume parser. So when people join up to the exchange, do they dump a bunch of resumes into a common database that ALEX analyzes to make them easily searchable for everybody?
Craig: They have the option to do that if they like. ALEX is built into Talent Trader so you can just push a button and import resumes. ALEX will parse them which breaks them out and puts them into a Relational Database. We run nearly 30 million processes on our resumes in about a second. We aggregate data on the fly. It makes the information far more retrievable.