Resume Parsing Software

What is Resume Parsing Software?

Resume parsers are software programs that automate the collection, storage, and categorization of employment resumes. This technology can scan large volumes of documents, analyze them, and extract information recruiters and hiring managers need. Resume parsing tools are usually included with most Applicant Tracking Software (ATS) platforms and assist with assessment management. Resume parsing software may also be used alongside Talent Intelligence Tools.

HR professionals, hiring managers, sourcing agents, and talent acquisition recruiters use resume parsing software to streamline hiring and applicant screening processes and find the best candidates. Advanced resume parsers utilize artificial intelligence, deep learning, and machine learning to create an algorithm for better data identification and extraction and more comprehensive search results.

Resume parsing software can search, sort, and extract relevant data such as:

• Skills
• Desired salary
• Visa status
• Work history
• Contact information
• Achievements
• Education
• Certifications
• Professional specialties
• Other qualifications and key terms

Resume Parsing Software Features

Resume parsing software often includes the following features:

• Email integration
• Support for collaborative hiring processes
• Offer management
• Integration with ATS and other applications
• Machine learning-based parsing
• Process common file formats, i.e., PDF, Doc, Docx, HTML, RTF
• Detailed library of taxonomies to identify candidate skills
• Region and language identification
• Talent discovery and rediscovery
• Pipeline management
• Existing skills mapping
• Candidate modeling
• Internal recommendations

Resume Parsing Software Comparison

When evaluating resume parsing software, consider the following aspects:

Advanced Data: Parsing of contact information, skills, qualifications, and work histories are standard features of most resume parsers. More advanced parsing tools extract much more data, including candidate summaries, desired salary and location, and more. For companies with lower candidate volume the additional cost of a more advanced tool may be burdensome. More advanced tools may be a worthwhile investment for companies with extremely high candidate volumes who don’t want to allocate the manpower to extracting data that less advanced resume parsing tools can’t extract.

Semantic Search: This feature adds context to search phrases, and is supported by several resume parsers. This aids in the comprehension of intent and improves the reliability of results. This can be especially important in more technical fields where the language used within the resume may be more specialized based on the technical requirements of the role.

Standalone Products: Many Applicant Tracking Software (ATS) have resume parsing software as a part of their platform or as an additional paid feature. If you already have an ATS, evaluate whether these built-in features have the capabilities that you need to avoid subscribing to another product that you will have to integrate with your ATS and other tools. If you don’t have an ATS, evaluate whether a standalone resume parser will suit your needs or if you would be better off investing in a more expensive ATS that will parse resumes among its other features.

Accuracy: Resume parsing software should perform at 90% accuracy or above to prevent the need for extensive human supervision when loading data into an applicant tracking software system. It's also important to note whether the parser can process resumes and cover letters in standard file formats and multiple languages. If the resume parser does not perform at these levels, you are likely to have to invest significant manual power back into the recruiting process and will not see a return on investment on your resume parser.

Pricing Information

Resume parsing software tools can be purchased as stand-alone or add-on products. They are also often included in an Applicant Tracking Software (ATS) platform. Some vendors offer freemium services and free trials. Resume parsers may be priced per user or hiring position. Entry-level fees begin at $30/month per user and $150/position. Some products require setup fees. Most vendors do not provide public pricing information for large business and enterprise options, but companies can reach out to vendors for a demo or quote.