Cornerstone OnDemand to Make Corporate Learning Available Anytime

Cornerstone OnDemand (NASDAQ: CSOD), a cloud-based learning and human capital management software company, announced that its new subscription product, Cornerstone Content Anytime, will be

Subscription News: Cornerstone OnDemand to Make Corporate Learning Available Anytime

Source: Cornerstone OnDemand

Cornerstone OnDemand (NASDAQ: CSOD), a cloud-based learning and human capital management software company, announced that its new subscription product, Cornerstone Content Anytime, will be available to all Cornerstone OnDemand clients in the U.S., Europe, the Middle East and Africa, collectively known as EMEA later this month. In addition, the company has added some new partnerships with content providers to help global companies that need training and education in English, French, German and Spanish.

Cornerstone OnDemand’s subscription offering was first launched in June to provide a holistic, personalized approach to employee learning. Cornerstone Learning now includes a user interface that Netflix and Spotify subscribers will find familiar: curated content recommendations, playlists, and collaboration and sharing capabilities. The company calls its Cornerstone Content Anytime offering a ‘progressive subscription service’ because it gives employees fresh content that allows them to control their own development.

Cornerstone Content Anytime has more than 4,000 mobile-ready video courses that are aimed to close both hard and soft skill gaps, and they are available in a range of formats including everything from short, bite-sized courses to longer courses broken down into more manageable sections. Course categories include leadership and management, personal development, office productivity, health and wellness, technology, business skills, and sales and service, among others.

Subscription News: Cornerstone OnDemand to Make Corporate Learning Available Anytime

Source: Cornerstone OnDemand

The company has committed to adding regular content to help companies and their employees stay up-to-date on the latest skills training and opportunities. Cornerstone’s newest partnerships for global learning include Cegos Group, Skill Pill, BizLibrary, CyberU, Grovo, PowerForward and TED.

‘Organizations have been forced to choose between multiple, disparate content providers to ensure they’re offering their employees the widest range of learning content available. We believe today’s organizations should have the option to choose a single service that simplifies the complex acquisition and curation of training content for them,’ said Adam Miller, founder and CEO of Cornerstone OnDemand, in a press release.

‘With Cornerstone Content Anytime, we have opened a world of modern training content that is refreshed continually and personally curated to give employees the tools needed to be successful in today’s evolving workplace,’ Miller added.

Founded in 1999, the Santa Monica, California-based company serves more than 3,000 clients across 191 countries and in 43 languages. It has had more than 32.1 million users to date. In addition to education and training, Cornerstone offers recruitment, training and employee management software.

In August, Cornerstone OnDemand released its second quarter 2017 financials, revealing that it had closed its largest contract in company history with the U.S. Postal Service, supporting more than 600,000 employees across the country. The company reported revenue of $116.7 million, a 9 percent increase year over year. However, it also reported an operating loss of $18.6 million, compared to an operating loss of $15.1 million for the same period last year. The company’s net loss for the quarter was $21.3 million, or $0.37 diluted net loss per share. The company’s financials did not break revenue down by segment, but because the subscription offering was launched in the second quarter, it is not likely to have yielded significant revenue. It projects third quarter revenue between $117 million and $120 million, representing year-over-year growth of approximately 10 percent.

Insider Take:

In its financial presentation, Cornerstone OnDemand points out that the potential market for its products is huge ($50 billion +), and it considers itself an industry leader compared to competitors like SAP, Oracle, Halogen Software, Talentsoft, Haufe, Saba, Technomedia, and SumTotal. The company has an opportunity to hold its market share with fresh content offerings and its new subscription product. Those are great benefits to offer potential clients, but the bottom line is that Cornerstone OnDemand needs to turn around its bottom line. It can’t continue to run in the red indefinitely.

Up Next

Register Now For Email Subscription News Updates!

Search this site

You May Be Interested in: