Professional services leaders say that expanding marketing efforts is the main way their firms will drive growth over the next 12 months, according to our latest survey from NetSuite Brainyard. And of all industries, professional services is among the most keen on returning to the office. Get a further peek into your peers’ playbooks in this roundup of our survey results.
As they adapt to the current business environment and future-proof their operations, staffing and recruiting firms are shedding their aging technology systems in favor of unified cloud enterprise resource planning (ERP) system.
Based on results from the Fourteenth annual Professional Services Maturity™ benchmark survey, SPI Research has named the 2021 Best-of-the-Best Professional Services Organizations (PSOs). SPI’s extensive annual survey, the 2021 PS Maturity™ Benchmark, revealed year-over-year revenue and headcount growth still reached 8.7% and 5.5% respectively. Professional Services firms seemed to have weathered the global pandemic fairly well compared to other sectors, with 18% of firms expanding their workforces with headcount growth greater than 15%.
Every year a significant number of the Best-of-the-Best run NetSuite for their financial ERP and PSA (Professional Services Automation) applications. Read on to learn what sets top PS firms apart
Download the report to discover how Services companies stack up in today’s competitive business environment.
Are you ready to take your business performance and make growth a priority? Tired of manual processes and unreliable fragmented reporting and data? Oracle NetSuite has robust Professional Services Automation solutions to help manage your business end-to-end through the bid-to-bill lifecycle with one intergrated system for all your core processes. Read this business guide to learn the top five ways Professional Services Automation can optimize your business:
Are you ready to turbo-charge your business? Tired of struggling with aging business systems, fragmented reporting and never-ending IT costs? Switching from QuickBooks to NetSuite's cloud solution enables companies to lower costs, streamline key business processes, boost productivity and be more competitive. Manage your business end-to-end with one integrated business suite for all your core processes. No more juggling of separate software applications and wasting time and resources maintaining and upgrading a hairball of on-premises software applications.
“In our 22-criterion evaluation of digital operations platforms (DOPs) for services businesses, we identified the 12 most significant ones—Deltek, FinancialForce, IFS, Infor, Microsoft, Oracle, Oracle NetSuite, Ramco, Sage Intacct, SAP, Unit4, and Workday—and researched, analyzed, and scored them. This report shows how each provider measures up and helps application development and delivery (AD&D) professionals select the right one for their needs.” – The Forrester Wave™: Digital Operations Platforms For Services Businesses, Q3 2020
When it comes to managing a services business, few topics generate as much interest—and controversy—as the topic of Metrics. Whether the question is what to measure or how to measure it, it can be challenging to reach consensus within a single team environment, much less at departmental and organizational levels. Find out key perspectives on metrics that matter most to services businesses.
Download the report to discover how Services companies stack up in today’s competitive business environment.
Based on results from the thirteenth annual Professional Services Maturity™ benchmark survey, SPI Research has named the 2020 Best-of-the-Best Professional Services Organizations (PSOs). SPI’s extensive annual survey, the 2019 PS Maturity™ Benchmark, revealed top performers are far more likely to deliver projects on-time to satisfied clients than average firms. The Best-of-the-Best delivered 93.9% of their projects on time compared to 60.6% for average firms.
This past year, the top firms who participated in the survey outperformed their peers and the benchmark average with not only more reference customers, but also significantly higher profits and superior revenue and headcount growth.
Every year a significant number of the Best-of-the-Best run NetSuite for their financial ERP and PSA (Professional Services Automation) applications. Read on to learn what sets top PS firms apart.
Adding multiple revenue streams to a services business need not be complicated expensive, but it does require a well thought out approach supported by a core technology system. Find out how to do it while reaping the many rewards of diversification in any business environment.
Managed services, building recurring revenue and subscription pricing are the latest technology industry buzz words. Service providers are attracted to the allure of building more predictable, more profitable, recurring revenue streams. Potential customers love the idea of outsourcing aspects of their business through a simple pay-as-you-go usage-based contract. Investors are thrilled by the prospect of funding a business with plenty of annual recurring revenue as an offset to the peaks and valleys of growth derived from discrete projects with finite start and end dates.
Read the report to learn why the emergence of managed and subscription services have spiked across service-based industries. The report will provide insight into the benefits, challenges and risks of providing a managed services offering, as well as a few stories about companies that offer managed services.
Traditionally, services businesses have relied on billable hours as their primary source of revenue. However, many service-based businesses are starting to diversify with additional offerings to create multiple, complementary and more predictable sources of revenue. There are many ways firms can expand their revenue streams including reselling hardware or software; developing their own software; packaging and licensing their intellectual property; or through building new recurring revenue based on managed and subscription services. One thing is certain, a firm’s value and ability to effectively manage cash increases with the addition of more predictable, recurring revenue.
In this report, Service Performance Insight interviewed three firms (Open Symmetry, Golden Star Technologies and NetSuite) who have successfully added new, more predictable recurring revenue streams to their portfolio. We asked these companies questions around why, how, the benefits and lessons learned from expanding their solutions portfolio to include new managed services and subscription revenues.
Based on results from the twelfth annual Professional Services Maturity™ benchmark survey, SPI Research has named the 2019 Best-of-the-Best Professional Services Organizations (PSOs). SPI’s extensive annual survey, the 2019 PS Maturity™ Benchmark, revealed top performers are far more likely to deliver projects on-time to satisfied clients than average firms. The Best-of-the-Best delivered 88.2% of their projects on time compared to 76.3% for average firms.
This past year, the top 5% of firms out of 622 organizations who participated in the survey outperformed their peers and the benchmark average with not only more reference customers, but also significantly higher profits and superior revenue and headcount growth. The Best-of-the-Best grew revenues by 14.5% compared to 9.4% for average firms.
Every year a significant number of the Best-of-the-Best run NetSuite for their financial ERP and PSA (Professional Services Automation) applications. This year was no exception with 5 of the final 18 Best-of-the-Best organizations like Cherwell, IFS Aerospace and Defense, Pariveda Solutions, RevGen Partners, and TOP Step Consulting relying on cloud applications from NetSuite to support their superlative performance.
Service Performance Insight (SPI Research) is proud to introduce the twelfth-annual Professional Services Maturity™ Benchmark. For over a decade, SPI has researched, benchmarked and built a maturity model to:
A record number of respondents (622) completed this year’s benchmark survey. With growth in the number of participants, data accuracy improves and enables SPI to expand coverage into more sub-verticals and geographies. This wealth of data means the depth, breadth and accuracy of the benchmark continues to expand. It is used by well over 25,000 billable professional services organizations to benchmark their operations and gain insight into ways they can improve.
Do you have visibility into your businesses key operational processes? Does your team have the data you need to ensure long-term growth? Our checklist is designed to help businesses improve visibility into various areas of their performance and identify key strengths/weaknesses. Download the checklist to examine four areas of visibility, financial, project, resource and general, and help kick-start the process of better organization at your services company.
Explore this stage-by-stage ebook about how companies move from business inception to exit—a guide to growing your business. We will dig into the definition of each business stage, the range of funding typically acquired, the stakeholders involved and the goals to achieve before moving into the next phase.
Delivering transparency is becoming increasingly important across different industries. For some, it has become a competitive differentiator. In professional services, clients are also increasingly calling for transparency. To fully embrace transparency means building a culture and values that support it, and also means having the systems, processes and technology to deliver it. As a single ERP system, NetSuite is not just at the heart of a company, it also provides an ecosystem that enables companies to become transparent from inside and out.
In the report, you will find 165 great tips from practitioners who've been there and know first-hand the trials and tribulations of running a services organization. Inside the report, you'll find real-life experiences and “lessons learned” that will help you create and run a first-class services organization. Whether you're with a startup with just a few consultants or with a Fortune 500 company with a sizable services organization, the gems provided in this report will give you insights into a range of topics, from setting up your services strategy and charter; to services marketing and selling; to business operations, organizational design, services delivery and offshoring. Written by over 100 Professional Services industry experts, you won't find a more comprehensive report on this subject anywhere.
Service Performance Insight's (SPI) Professional Services (PS) Global Pricing, Compensation and Utilization Benchmark examines how PS organizations strive to delight clients and improve margins by determining accurate pricing targets and winning growth strategies. Building on the success of the 2011 and 2015 PS Global Pricing reports, SPI provides a comprehensive study of global PS bill rates, compensation, workforce composition and utilization.
Based on survey data from 156 Professional Service organizations, representing more than 11,000 consultants, this independent study profiles published and realized bill rates, base and variable compensation, and billable utilization across 12 job roles. The report showcases six service industry segments such as IT and management consulting as well as embedded PS roles with Software and SaaS product organizations, architects and engineers, and advertising, marketing and publishing. The report also focuses on key metrics and the predominant business applications used by consulting organization to effectively price, win and deliver projects.
SPI research's Professional Services (PS) Maturity Benchmark examines the trends of the services industry to help professional services executives better understand how their organization compares to others that are both similar in size and scope of work, as well as to the broader professional services market. Additionally, the study provides an objective, fact-based framework for performance improvements that helps pinpoint the areas that will provide the greatest impact.
Based on input from 456 PS firms from around the world, year over year PS revenue growth, for the 2nd year in a row, dropped below 10% to 8%. But PS job creation rose to a new high of 9.3% as skilled millennial workers continued to surpass retiring baby boomers to become one of the largest cohorts. Download Report to prepare your firm for the challenges and opportunities that lie ahead in the ever-changing professional services industry.
This is a business guide catered to the professional services audience. It shows how these organizations can leverage best practices around skills-based planning and mapping with investment in a PSA tool such as OpenAir.
Based on the results from the eleventh annual Professional Services Maturity™ benchmark survey, SPI Research has named the top twenty 2018 Best-of-the-Best professional services organizations. SPI’s extensive annual survey, the 2018 PS Maturity™ Benchmark, revealed top performers grew both revenues and new jobs at more than twice the rate of average firms. To support their expansion, the Best-of-the-Best augmented their consulting workforces by 19.8% compared to 8.7% headcount growth for average firms.
This past year, the top 20 firms out of 456 organizations who participated in the survey outperformed their peers and the benchmark average with not only significantly higher profits, but also more projects delivered on-time and many more satisfied clients. These firms generated 26.3% in net profit compared to 16.1% for average PS organizations.
Most professional services and consulting organizations prioritize the technical expertise of their personnel. In this business guide, we will explore what the PS organization can do to enhance the “soft skills” of its PS practitioners and ultimately drive more value to both the client and more repeatable business for the PS organization.
Every other HR system on the planet was built just for the HR department. That's a part of it, but it isn't enough. Shouldn't it be built around your most valuable asset—your people? The SuitePeople experience ensures your most valuable asset, your people, are effective, engaged and motivated. SuitePeople was built for everyone from the shop floor to the top floor.
The Cloud continues to hang over the business computing landscape like, well, a cloud. Public cloud, private cloud, hybrid cloud, SaaS, PaaS, IaaS—all of it makes for a confusing alphabet soup for even the most experienced industry observers and IT pros.
And, as longstanding technology firms look for ways to get into the market and new entrants emerge, creating new terminology, claiming firsts and generally obfuscating the entire landscape, it only promises to get more confusing for technology buyers seeking a cost effective, scalable and agile solution for their needs. This paper serves to provide some clarity around the different flavors of cloud and a detailed explanation of why multi-tenant SaaS offers the greatest combination of value, agility and scalability.
Download your copy of SPI Research's Benchmark Report to see how you match-up with the best in the industry.
Are you “making do” with something less than full ERP? In this report, Mint Jutras references data collected from its 2016 Enterprise Solution Study, investigating goals, challenges and status and performance of software used to run a business. A total of 525 responses were collected from companies across a broad range of industries, with 99 collected from the services sector.
Learn why NetSuite prevailed as the dominant applications provider to services organizations in this year's 2016 Professional Services Maturity Benchmark study by SPI Research.
As a service organization's growth accelerates, its business model becomes more complex. This complexity results largely from a volume increase in billing, accounting, and projects under management. Optimizing processes with the right solution not only allow firms to track critical operational metrics, but they also empower executives and resource managers with access to information in real time.
The forces that drive change in professional services are many and varied, and the pace of this change is only accelerating. In the face of these major changes, what can PS organizations do to maximize resource optimization and streamline delivery processes? This executive briefing highlights the best practices for organizational optimization in a world where moving quickly is business-critical.
The growth engine of the world's economy has shifted from manufacturing to project-based, people-centric services businesses. While PS organizations struggle to improve margins, determining winning pricing targets and strategies has never been so important. As part of this pricing study, SPI Research will demonstrate the important role bill rates play in generating profit.
This project-driven service economy depends on accurately capturing knowledge-worker productivity—how much time, skill, materials and intellectual property are required to produce favorable client outcomes? New cloud-based services resource planning (SRP) applications have emerged to manage the entire project lifecycle from requirements to quoting, time and expense capture and billing.
While the professional services industry landscape has changed, the underlying metrics to manage services businesses have remained consistent. This business guide examines three core metrics critical to professional services performance and offers practical examples of how you can apply them to measure and optimize your own business.
In this business guide, SPI Research focuses on four of this year's Best-of-the-Best service organizations, each of which relies on NetSuite's powerful professional services automation (PSA) solution to provide visibility and control across all aspects of service operations. This paper focuses on the best practices that differentiate Best-of-the-Best firms from average firms.
Technology Evaluation Centers (TEC) is pleased to announce that OpenAir by NetSuite is now TEC Certified for online evaluation of project portfolio management for professional services automation (PPM for PSA) solutions. The PPM for PSA evaluation model enables you to compare and evaluate functionality based on TEC's comprehensive model of PPM for PSA software.
Service Performance Insight (SPI Research) is proud to introduce the eighth-annual Professional Services Maturity™ Benchmark. Each year SPI Research collects data on approximately 200 key performance indicators across all aspects of professional services organizations. Many benchmarks focus solely on financial metrics, but do not delve deeper into the root causes impacting those metrics. SPI Research believes each component of the professional services organization can both positively and negatively impact performance, cash flow and ultimately profit. The purpose of this benchmark is to provide a holistic view of all aspects of PS performance and how subtle changes in one area, for example, revenue growth, impact all other areas.
The TEC Focus Indicator presents the results of benchmarking NetSuite ERP against and Industry Average. TEC calculates the industry average for a given software market space based on product data from real-world software solutions, scoring solutions support for hundreds to thousands of features and functions.
NetSuite ERP ranks in the Dominant Zone in the portfolio and project management, resource planning and scheduling, and the time and expense management functional areas. This ranking highlights NetSuite's ERP's competitive strength in these important areas.
In today's global economy, modern services organizations must constantly evolve to ensure they provide the talent, skills, and experience to deliver projects that meet or exceed their clients' expectations.
NetSuite is the only integrated cloud-based business suite designed specifically for services companies. It streamlines business processes and provides a comprehensive back-office and front-office foundation, so you can accelerate the productivity and profitability of your services organization.
The growth engine of the world's economy has shifted from manufacturing to project-based, people-centric services businesses. These businesses rely on project-based Enterprise Resource Planning (ERP), also known as Services Resource Planning (SRP), applications to manage the financial aspects of the firm. These solutions automate core business processes such as quote-to-cash, resource and talent management, time capture and billing, and provide the real-time visibility necessary to improve organizational efficiency and effectiveness.
This report identifies how Best-in-Class professional services firms manage their back offices with Professional Services Automation (PSA) in order to maintain profit margins.
This PSA Buyer's Guide provides an overview of important trends, business processes and selection criteria to help project- and services-based businesses evaluate and choose PSA applications, which will provide the level of insight, management and control needed to improve productivity and profitability.
This business guide draws on real-world stories of small and medium-sized professional services organizations (PSOs) that have upgraded from QuickBooks to NetSuite at critical junctures in their development. It also outlines four common business process inefficiencies that you might see reflected in your own business—the reasons why QuickBooks may be failing your services organization.
A growing number of organizations delivering project-based services to customers seek business apps that more fully reflect that project focus and apply it to business-processes-powering project management, including project costing, time capture, and billing. Application delivery pros also often need apps that integrate and harmonize project management functionality with the financials and human capital management capabilities of enterprise resource planning (ERP) apps. This report highlights solutions from a group of ERP vendors providing these capabilities and identifies a number of project-based ERP customer best practices.