nextSource Inc. – a wholly owned subsidiary of Formula Systems LTD (NASDAQ:FORTY), and a leading provider of human capital management solutions – announced the appointments of John Hofstad-Parkhill and Matthew Wild to the positions of Vice President of Technology and Senior Developer respectively. Until joining nextSource, both Mr. Hofstad-Parkhill and Mr. Wild held similar positions with Ensemble Chimes Global (ECG), a subsidiary of Axium International.
While serving as Vice President of Software Development at ECG, Mr. Hofstad-Parkhill managed all aspects of the development of two distinct contingent workforce products that supported over 100 customers. As Vice President of Technology for nextSource, Mr. Hofstad-Parkhill joins nextSource’s executive staff combining his 15 years of industry experience with the extensive industry expertise of nextSource’s current team.
Mr. Wild has extensive knowledge in the design and development of web applications for the staffing industry and was a key member of ECG’s development team responsible for contingent workforce software. As part of nextSource’s technology team, Mr. Wild will contribute to the ongoing enhancements to TAMS, The People Ticker, ConsultingDirect, the MLSA and other nextSource state-of-the-art product offerings.
“We are always interested in adding talented individuals to our team,” states Mr. Joseph Musacchio, President and CEO of nextSource. “Beyond the obvious effects of the ECG situation are great people that contribute to keeping our industry focused on delivering world class solutions to the marketplace. With this in mind, we view these new additions to our team as an opportunity to continue to add excellence to the delivery of world-class products and services to our clients, vendor and contractor communities.”
“I feel quite fortunate and proud to join the nextSource team", states Mr. Hofstad-Parkhill. “I have respected the nextSource leadership, reputation and vision in the industry and I look forward to contributing to the full suite of products and services nextSource has to offer".
About nextSource
nextSource, headquartered in New York City, is a subsidiary of Formula Systems LTD. nextSource has developed a unique business model and full suite of products and services that provide a single source for corporate clients to address all of their staffing, procurement and human resource needs. At the core of the nextSource solutions are proprietary technologies such as ourTalent Acquisition Management Solution (TAMS) for vendor management and Independent Contractor Compliance; The People Ticker™, the world’s only real-time rates and salaries benchmarking solution; The Multiple Listing Staffing Association™ (MLSA), an industry-wide agency exchange; PeopleTime and ConsultingDirect.com.
About Formula Systems
Founded in 1985, Formula Systems (1985) LTD (NASDAQ:FORTY) is an international Information Technology company, principally engaged through its subsidiaries and affiliates, in providing proprietary software products, computer based solutions and software consulting services.