Professional Services Finds Gold in the Cloud

Professional Services Finds Gold in the Cloud

They say timing is everything! I joined FInancialForce.com this December as part of the FinancialForce PSA acquisition. It was great to join this team at a very exciting time in the industry. FinancialForce.com continues to build on the success of salesforce.com customers who are adopting the cloud in larger numbers every day. Plus the combination of the three cloud solutions – FinancialForce Accounting, FinancialForce PSA and Salesforce CRM – now provides the most compelling cloud PSA solution on the market. But, as the saying goes, that’s not all. Now my first post on the FinancialForce.com blog coincides with some timely, great news. A new benchmark study just reported that PS will be a major force driving adoption of cloud computing in the coming years. FinancialForce.com helped sponsor Service Performance Insight’s recent 2011 Professional Services Maturity Benchmark report. The report states “…there is no doubt this trend is gaining momentum and SaaS will become the primary method of PS application consumption within five years.” SPI’s 2011 Benchmark report provides a valuable basis of comparison for PS organizations and a tool for helping diagnose problems and identify opportunities. The report shows that by applying the best technology, PS firms can align Sales, Finance and Service in a way that enables profitable growth. In conducting the benchmark study, SPI reviewed more than 200 PS organizations and found that the top 5% not only significantly outperformed the benchmark average but had nearly double the revenue growth and 258% higher net profit. And I’m happy to report that a FinancialForce PSA customer was named in this year’s Top 5% Best-of-the-Best! The shift to the cloud is not just significant for PS organizations, but for their customers as well. Services teams who are less focused on technology and bridging communications gaps between teams generate more value for their customers. To me, that’s the power of the cloud. Over the next few weeks, I’m going to be sharing some insights from SPI report that you can use to help pump up your PS organization. Check back to the blog for some additional analysis that you can apply. In the meantime, you can download a full copy of the report from the FinancialForce.com website.

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