Xref Strengths, Domain Expertise, and Key Differentiators
Xref is a cutting-edge automated reference checking software designed to facilitate swift and data-driven hiring decisions. This mobile-friendly solution streamlines the referencing process, offering enhanced ease, security, and overall value to organizations. Notably, during the fiscal year 2017, Xref achieved an impressive milestone, surpassing 50% client growth.
Currently, the company enjoys a substantial client base primarily situated in Australia and New Zealand, boasting partnerships with 36% of the top 50 companies listed on the Australian Securities Exchange. Additionally, Xref's remarkable growth trajectory extends to key regions such as the UK, Europe, Middle East, and North America, reflecting the company's expanding global footprint.
Xref Recent Developments
In recent times, Xref has garnered attention by securing significant client wins across various regions. In 2021, Xref expanded its clientele to include prominent organizations such as RACV, NIB Group, Prospa, General Pants Group, and Ministry of Health. These new clients complement their existing roster of renowned customers, which includes Qantas, Westpac, Macquarie Bank, and Zoom.
From a financial standpoint, Xref closed the financial year 2020 with an impressive group revenue result of 12.6 AUD million. The company demonstrated steady revenue growth across each quarter, indicating a promising future for the organization. The revenue figures for each quarter were $2.0 million, $2.7 million, $3.5 million, and $4.4 million, respectively.
Xref Mergers and acquisitions (M&A) Activities
The acquisition of Voice Project, completed in January 2023, created an opportunity for cross-selling by giving Voice Project’s 900 plus clients access to Xref’s complementary services and offering Voice Project’s services to Xref’s 1,300 enterprise clients and 15,000 users.
During July 2019, Xref Limited successfully completed the acquisition of Rapid ID Pty Ltd ("RapidID"), marking a significant strategic move for the company. RapidID is an innovative ID verification and fraud prevention platform that stands out for its disruptive capabilities. By consolidating cutting-edge customer verification technologies, RapidID provides a versatile and seamless integration solution, specifically tailored for efficient onboarding processes and comprehensive risk analysis monitoring. This acquisition bolsters Xref's portfolio, enhancing its ability to cater to evolving market demands and solidify its position as a leader in the industry.
Xref Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Xref applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Xref and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Xref, RapidID customers.
Xref Overview
Ownership: - ASX:XF1
Number of Employees: 114
Functional Market: Recruiting,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Xref Key Cloud and HCM Applications
Xref, RapidID
Xref HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Xref Revenue Breakdown by Type:
Xref HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Xref HCM Applications Revenues By Verticals, $M:
Xref Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Xref Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Xref Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Xref Customers
No. of Xref Customers: 1300
No. of Xref HCM Applications Customers: x
No. of Xref Cloud HCM Customers: x
No. of Xref Cloud HCM Subscribers: 1000000
In 2021, Xref served over 6500 users across 1200 enterprise organizations, with a specific focus on sectors within the trust economy, including Healthcare, Age care, NFP, Government, and education. Renowned industry players such as Qantas, Westpac, Macquarie Bank, Zoom, and others count among Xref's notable clientele.
In 2018, Xref's services attracted more than 750 direct paying clients globally, excluding partner network users. Noteworthy additions to their client portfolio during that period included Auckland Transport, Bluescope Steel, CSR, Department of Premier and Cabinet (Victoria), KPMG, ME Bank, NBN, News Corporation, NSW Treasury, Reserve Bank of Australia, Telstra, and Transurban.
Xref's strategic London office supports the European market, serving approximately 120 million people across the region, as well as catering to the Middle East and Africa. Among their distinguished new clients are prominent organizations such as the Chelsea Football Club, the Chelsea Foundation, JCB (JC Bamford), Sue Ryder, The Salvation Army, Thwaites, and TMP Worldwide. Additionally, Xref successfully secured its first European clients, including Hammer & Hanborg in Sweden.
Similarly, Xref's Toronto office addresses the Canadian and USA employment market, encompassing around 180 million individuals. To date, more than 30 clients in the region have embraced Xref's solutions, including Bruce County Council, Konica, Lindt, Miele, and TravelEdge Group. These strategic regional offices and expanding clientele signify Xref's commitment to providing comprehensive reference checking services to global enterprises.
Xref Market Opportunities, M&A and Geo Expansions
Xref is highly attuned to the current exceptional momentum driven by the ongoing digitalization and modernization of businesses, and the company is determined to capitalize on this momentum fully.
With Xref's cutting-edge cloud-based software, companies can effectively leverage technology to make informed and data-driven decisions regarding talent acquisition and retention. Additionally, the software plays a crucial role in safeguarding employers from potential security breaches, discrimination, and fraudulent activities. By embracing Xref's solution, businesses can optimize their hiring processes, enhance efficiency, and ensure utmost integrity in their recruitment practices.
Xref Risks and Challenges
In March 2021, Xref experienced a significant organizational change when its longtime Chief Technology Officer (CTO), Tim Griffiths, made the decision to resign and depart from the company. Subsequently, the role of CTO was assumed by Sharon Blesson, who previously served as the Chief Operating Officer (COO) at Xref.
This transition occurred during a pivotal moment in the firm's rapid advancement, highlighting the importance of seamless leadership succession and continuity in ensuring sustained growth and development.
Xref Ecosystem, Partners, Resellers and SI
Xref has strengthened its ecosystem by integrating its software with various ATS and background check systems such as Avature, Bullhorn, LinkedIn Talent Hub, Oracle Taleo, Workday, CVCheck, Checkr, Expr3ss, the Greenhouse platform, iCIMS, JobAdder, Kallidus Recruit, Lever, LiveHire,Oracle Recruitment Cloud, PageUp, SmartRecruiters, SnapHire, Springboard ATS, ScreeningCanada, Talent App Store, uCheck, and Zapier. These integrations enable seamless embedding of Xref's solution into the human resources workflow, enhancing user experience and driving growth.
The company's partnerships with system integrators and value-added resellers contribute significantly to expanding Xref's global reach in a cost-effective manner.
Xref has offices in Australia, United Kingdom, Canada, Norway, United States, and New Zealand.
Xref Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- Xref Public Cloud and Infrastructure (IaaS)
- Xref Platform (PaaS)
- Xref Application Delivery
- Xref Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
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