EY has announced the acquisition of Spotmentor Technologies in India. Spotmentor is an end-to-end skilling platform to help businesses identify skills required for the future of work, upskilling and reskilling talent at scale. The acquisition strengthens EY’s People Advisory portfolio of digital services to support businesses in their skilling and learning needs. It leverages emerging technologies such as artificial intelligence and machine learning, to help close the critical competency gaps in an organization.
There are only a few world events such as a climate emergency, a cultural shift, a political event or as we have now discovered, a pandemic that can cause global disruption on the scale we have recently witnessed. 2020 has been the year of seismic change; a change to how we work, shop, travel, receive healthcare, conduct business, and socially interact. Organizations need to thrive in this new world by keeping people at their center, leveraging technologies at greater speed and scaling innovation quickly.
Digital transformation and the evolving nature of skillsets are leaving organizations to play catch up as they try to hire and nurture the right competencies to be ready for the future of work. With this acquisition, EY adds to its workforce a team of dynamic experts with rich technology experience in creating an ideal learning cycle for businesses backed by emerging technologies. It aims to enable businesses to automatically identify critical competency gaps and recommends suitable learning pathways, thus ensuring real time return-on-investment on learning and development.
Rohan Sachdev, Partner and Consulting Leader, EY India says, “It remains our priority to enable clients with tools and resources to help them adapt to rapid changes and navigate market disruptions in the new normal. The acquisition of Spotmentor Technologies will boost our digital offerings, combining our strengths in strategic people consulting and seasoned experience in learning and skills development, now delivered to clients through an intelligent technology platform. This reinforces our continued commitment and investments in technology and strategic acquisitions to further our range of digital offerings.”
EY Spotmentor, the software-as-a-service based skills, learning and careers platform can be deployed across an organization’s value chain. It provides 360-degree skills industry benchmarking to help create success profiles and real time identification and closure of skill gaps. It is also designed to provide easy access to quality content, curated learning plans and offers a real-time skill inventory health index. Some of the key features of EY Spotmentor include:
- Real-time market intelligence on new skillsets
- Building success profiles, highlighting ‘to-be’ or ‘ideal’ state of skill inventory in the organization
- Employee evaluation through a 360-degree feedback and assessment tests
- Identification of skill gaps
- Content aggregation from multiple sources, leveraging technologies such as Natural Language
- Processing-based curation and Semantic search
- Curation of hyper-personalized learning pathways
- Identification of reskilling opportunities
- Measurement of skilling progress, including real-time skill inventory health index
Anurag Malik, Partner – People Advisory Services, EY India, added, “EY Spotmentor is a one-of-its-kind integrated, technology enabled end-to-end skilling platform that provides on-going market intelligence on future skills and delivers hyper-personalized learning and reskilling pathways based on skill gaps. Over the past year, we have collaborated with Spotmentor Technologies team to equip our clients with the right skillsets and they have benefitted immensely from this association. This new technology solution further strengthens our People Advisory portfolio of digital services, enabling us to effectively harness our client’s people agenda as part of an integrated business strategy.”
Spotmentor Technologies was co-founded by Deepak Singh, Arpit Goyal, Shekhar Suman and Yash Pl Mittal in 2016 in Gurugram. The company broadly focused on large enterprises, government and industry bodies, helping them identify required skill and competency gaps through hyper-personalized learning and reskilling plans.
EY continues to expand its digital capabilities in India to help organizations solve their complex end-to-end business transformation challenges. Last year, EY in India acquired C Centric, a leading provider of CRM solutions and services, and in 2018, acquired Fortune Cookie UX Design to drive digital transformation, including design thinking, user experience (UX) design, usability and building user-centric digital ecosystems.