PS Market Surging, No Let Up in Sight
We like what we see. Service Performance Insight (SPI Research) just came out with new research indicating that the Professional Services market is not just good but it’s thriving; that it’s slated for more growth; and technology is playing the major role in PS firm success. No wonder we’re seeing those PSA deals stacking up! It’s all outlined in this year’s SPI Professional Services Maturity™ Benchmark report. The Numbers Professional services as an industry in 2012 grew across all leading indicators – annual revenue growth (11.5%), headcount increases, size of the deal pipeline (193% of forecast), and percentage of revenue in backlog (43%) — its strongest results in five years. PS organizations are also experiencing shorter sales cycles thanks to pent up demand. The best part is that 2013 is predicted to be another strong year, setting the stage for key growth trends that will shape the industry over the next five years. PS firms planning to capitalize from this expected surge require technology that allows for integration, mobility, ease of use and complete visibility. The secrets to success? According to the report, the best performing firms focus intently on aligning sales and service delivery, and are taking advantage of an integrated CRM and PSA application. An integrated CRM and PSA application means 360-degree view of clients; ensuring prospects fluidly become projects. That means providing visibility for both sales and delivery to the pipeline to ensure they are selling what they can deliver and delivering what was sold. And that’s where FinancialForce PSA comes in.