Cherwell Software’s expansion into human resources will allow the Colorado Springs-based company to pursue a much larger market, CEO Sam Gilliland said Tuesday.
The company plans to roll out human resources software this fall that will help automate the process of giving new employees the appropriate level of access to the employer’s computer network or handle employment verification for employees seeking mortgages or other credit, officials announced at Cherwell’s annual conference at The Broadmoor. The three-day conference attracts more than 800 customers, business partners, employees and others.
Gilliland, who joined Cherwell last month as CEO, said the potential market for automating tasks in human resources, building security and other areas beyond information technology totals $30 billion — six times the company’s traditional market in information technology service management. If Cherwell succeeds in those new markets, it will need more employees for sales, customer service and technical support, he said. About 280 of Cherwell’s 480 employees work at its Colorado Springs headquarters.
“It is a big expansion in opportunity” for Cherwell, Gilliland said. “We are building connections between departments and using technology to do it. We see a lot of connectivity between (Cherwell customers’) information technology department and the rest of the company.”
The new software’s key feature will be linking its customers’ departments so they can work together more effectively to solve “real business problems,” said Steve Rodda, the company’s chief product officer. The human resources software is just the first step of the company expanding its products beyond information technology, he said.
The company increased its product line in 2016 by acquiring Advanced Marketplace. That Tampa, Fla.-based consulting firm, with about 20 employees, develops software that added human resources, facilities and security management features to Cherwell’s products. Cherwell was started in 2004 to come up with software that would help keep computers, networks and other information technology equipment running properly.
Gilliland spent 25 years at travel technology giant Sabre Corp., starting as a software developer and serving as CEO for his final 10 years with the company.
Contact Wayne Heilman: 636-0234