San Francisco, CA – February 19, 2015:
FinancialForce.com, the leading cloud ERP provider on the Salesforce1 Platform, announced today that two FinancialForce PSA (Professional Services Automation) customers, Nexstara and Netsmart , have been named to Service Performance Insight’s (SPI) 2015 Professional Services Maturity™ Benchmark report. This year’s recognition marks the fifth consecutive year that one or more FinancialForce.com customers have received the honor.
Both FinancialForce PSA customers ranked in the top five percent best-of-the-best performing Professional Services Organizations (PSO), benchmarked against more than 220 participating firms. Nexstara and Netsmart were recognized for outranking peers and the benchmark average, achieving significantly higher profits, taking on larger projects with more satisfied clients.
Nexstara is a certified Salesforce and FinancialForce.com consultancy that combines the best in business strategy and technology to enable its customers to sell, service and market. Nexstara found FinancialForce PSA key to its success in 2014, increasing their total utilization by 6%.
“FinancialForce PSA has changed the game for us,” said Leo Smigel, CEO of Nexstara. “It not only allows us to know what’s happening today, but it also allows us to see what’s happening in the future. This visibility enables us to maximize our billable resources and earn best-in-class profits. There’s absolutely no way we could be as profitable as we are today without FinancialForce PSA.”
In 2014, FinancialForce PSA helped create predictable growth for Netsmart, an organization that has been delivering technology solutions for healthcare for more than four decades. More than 23,000 client organizations, including more than 450,000 care providers and more than 40 state systems, use Netsmart solutions to help improve the quality of life for individuals.
“As we entered 2014, our focus was on delivering financial results predictably,” said Doug Abel, Executive Vice President of Netsmart. In order to achieve our goals, we focused on improving backlog visibility and resource scheduling accuracy. These enhancements led to achieving targeted utilization and improving the accuracy of our forecast. We built weekly processes to monitor and adjust. As a result, we delivered financial results 23% above plan with year-over-year revenue growth of 31%, 82% billable utilization and 97% accuracy in our quarterly financial forecasting.”
SPI’s 2015 Professional Services Benchmark Maturity™ Report detailed positive trends and growth for the professional services industry including the importance of utilizing cloud ERP technology. Specifically, PSOs were found to have increased their IT spend, particularly on cloud-based business applications. The report also underlined that for those using a cloud-based PSA solution, heightened management control and visibility produced significantly better productivity and profitability.
To learn more about the SPI Benchmark Maturity™ Report and Best-of-the-Best rankings, join Jeanne Urich, Managing Director at SPI and executives from Nexstara and Netsmart in a webinar on February 25 at 10am PT.
FinancialForce.com delivers ERP at Customer Speed™. Built on the Salesforce1 Platform, FinancialForce ERP equips customer-centric businesses with a unified cloud platform and all the applications necessary to grow both the top and bottom line. Our Financial Management, Human Capital Management (HCM), Professional Services Automation (PSA) and Supply Chain Management (SCM) apps allow businesses to increase the speed at which they operate and be more responsive along every touch point of a customer’s journey. Founded in 2009 and headquartered in San Francisco, FinancialForce.com is backed by leading global institutions Salesforce.com, Advent International and UNIT4.
Media Relations Specialist
Posted on 19 February 2015 at 8:00 pm UTC