We like to spend as much time as we can with professional services(opens in new tab) executives to help us understand how we can better serve their needs. Whether visiting our customers, speaking with prospective customers or networking at various events and roundtables, there is one thing we keep hearing loud and clear: “We need more PS metrics to better measure our organizations.”
It seems that the industry is responding. Just launched this week is the PSVillage Professional Services Industry Benchmark(opens in new tab), a new survey targeted at professional services leaders with P&L responsibility in software companies or services firms. As PSVillage explains it, by participating in the benchmark survey, you’ll be contributing to a community-developed and supported resource designed to help PS organizations optimize their operations and performance.
The survey results will be available in Q4 of this year. The goal is to enable PS execs to:
- Filter data on demand based on geography, industry, company size and service
area, providing you with industry metrics at both the macro and micro level
- Identify critical financial and operational metrics, including a variety of compensation
measurements by role, and compare them to similar organizations
- Identify key areas of improvement and more effectively manage your services P&L.
NetSuite has long been a sponsor and supporter of similar benchmarks, including one produced annually by SPI Research(opens in new tab). We’re proud to be an inaugural sponsor of the PSVillage benchmark. We view it as one way that we can help give our customers and the industry as a whole exactly what they’ve been asking for—more metrics and benchmarks to better measure their organizations.
If you are a PS leader with P&L responsibility, we highly encourage you and your team to participate in this—and all—benchmarks. It only takes about 20 minutes to complete, and surveys like these are the only true way to gather the metrics, benchmarks and other data that can help us all to grow and better our organizations. Better yet, survey participants receive full access to the results for one year at no charge. Visit the PSVillage website(opens in new tab) for more information and to participate.