Background Screening Industry Need Dynamic Technology Leaders
By Anthony Maiello, Founder & CEO, VNCTech Group & VNC Technologies
Background investigations have been around a long time. Not too long ago most of us can remember, the only people going through background screening were those going for top secret government clearance or law enforcement jobs and those screens were mostly manual and would take many months costing a lot of money.
Of course we fast forward to today’s fast-paced, internet-centric, security-minded, and law-suit-happy world we all live in now where background screening has become the norm for everyone on the planet who is being considered for a job in the corporate world. This has rightfully resulted in the expectation that background checks today have to be fast, less expensive, extremely accurate, and compliant.
So it’s no surprise that technology is significantly changing the background screening industry as we speak. Many screening companies are carefully watching new technology disruptions and have already implemented (over the years) some sort of technology (via 3rd party and/or home grown) enabling a low cost, accurate, and fast background check process when compared to the old manual ways. But there is a long way to go ...
As I look across the background screening company landscape today, almost all are having discussions about technology transformation, while many are still depending on paper process and 3rd party platforms that are not providing the market differentiation and, in some cases, not keeping up on new technology and functional needs to deliver that competitive edge so critical in this industry. Even with new technology supported by some of the few “larger” background screening companies today, we still see background screening issues including inaccuracies in results, mis-haps with compliance and regulation, inability to keep data fresh, rising costs, and simply taking too long to complete the screen.
Although we have digital technology today that can solve many of these deficiencies, we see push back and major concern in the industry around integrating technologies such as artificial intelligence, blockchain, machine learning, automation, and others that, if integrated properly, have the digital capability that can alter these shortcomings and heavily benefit the industry. But there is still push back ...
Some of this push back and concern may be due to legitimate reasons around compliance and lawsuits if done incorrectly, but most is due to fear …
Lack of expertise and experience in specific subject matter, technology leadership, and applying correct levels technology to solve problems
Costly vendor lock-in with 3rd party platforms with little chance of differentiation and achieving a competitive edge.
Whether you’re a CRA using 3rd party platforms, or a larger Background Screening company on home grown technology, removing these fears and resolving these shortcomings will take a new type of technology leadership and subject matter expert … Leadership with proven subject matter expertise and abilities to be resilient, agile, future focused, and transformational. Like many industries, fast growing organizations are relying on dynamic technology leadership to guide them across the enterprise to new ways of thinking, and Background Screening is not an exception. This type of leadership and subject matter expertise does more than just keep the lights on, they also work across business units, technology, sales, marketing, private equity investors, and stakeholders ensuring business and technology are aligned delivering new business and profitability.
The Background Screening industry is still evolving from a technology perspective. There is currently a great opportunity for smaller screening companies to obtain incredible market share if they make the right decisions and invest in this new type of technology leadership. I believe the Background Screening company (CRA included), who embraces and integrates dynamic technology leadership into its DNA, is laying the foundation towards becoming the largest and most successful company in the industry.
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