The 2024 Professional Services Maturity™ Benchmark ReportService Performance Insight (SPI Research) proudly introduces its 17th annual benchmark – The 2024 Professional Services Maturity™ Benchmark Report, a comprehensive study of the global professional services industry provides in-depth analysis gleaned from 575 PS organizations and over 6,500 over the last 17-years. The report contains 229 pages with over 250 insightful charts and graphs; analysis of 155+ key performance indicators (KPIs) including detailed income statements. The benchmark covers eight global PS vertical markets: IT Consulting, Management Consulting, PS within SaaS, PS within Software, Architects and Engineers, Agencies, Healthcare PS and other PS. Analysis is provided by vertical, geography and size of organization.
The 2023 PS Talent Benchmark ReportThe 122-page report consists of over 100 figures and tables, and examines base and variable compensation, attrition, billable utilization and bill rates across 12 job roles. Workforce composition, cost and revenue are profiled by service industry segments (such as IT, management consulting, architecture/engineering, SaaS PS) as well as by geography (Americas, Europe). 137 firms frow around the world were surveyed, representing over 50,000 consultants. The study was conducted from May – July, 2023. The report sells for $995.
The 2022 Professional Services Automation (PSA) End-user Survey ReportSPI Research conducted an end-user survey on 88 billable PS organizations using PSA solutions. The survey asked quantitative and qualitative questions regarding why firms selected PSA, which attributes were most important, and how buyers perceived their benefits. Most importantly, this study looked at both pre- and post-PSA deployment.
SPI Research’s Human Capital Management (HCM) Survey ReportThe 45-page report consists of 46 figures and tables, and highlights some of the trends in HCM use, most notable its movement to the Cloud. The average firm size was 446 employees, and the organizations showed an annual profit of 11.6%. These organizations, on average, showed an annual profit increase of over $1 mm as a result of the benefits provided by HCM, namely a reduction in the total time to hire, train and make consultants billable, reduced employee attrition, and higher billable utilization though optimized staffing levels. The report sells for $595.
The PS Sales and Marketing Maturity™ BenchmarkThe service industry has switched from “controlling costs” to “growth”. The race is on to out-market, out-sell and out-package the competition with profitable growth the prize. Around the globe service providers are re-examining their approaches to the market: looking at the most effective sales, marketing and packaging techniques to determine the optimum investment formula with the greatest payback.
Service Performance Insight (SPI) is a global research, consulting and training organization dedicated to helping professional service organizations (PSOs) make quantum improvements in productivity and profit. In 2007, SPI developed the PS Maturity Model™ as a strategic planning and management framework. It is now the industry-leading performance improvement tool used by over 50,000 project- and services-driven organizations to chart their course to service excellence.
The core tenet of the PS Maturity Model™ is PSOs achieve success through the optimization of five Service Performance Pillars™:
SPI provides a unique depth of operating experience combined with unsurpassed analytic capability. We not only diagnose areas for improvement but also provide the business value of change. We then work collaboratively with our clients to create new management processes to transform and ignite performance.
SPI Research just published the 17th annual (2024) Professional Services Maturity™ Benchmark. The 229-page report provides data-based guidance for professional services executives with over 250 informative graphics and tables in support of strategic initiatives to improve organizational performance. The Professional Services Maturity™ Benchmark is the global authority for the professional services market. It is produced by SPI Research, the leading research and consulting firm solely focused on professional services organizations (PSOs).
575 firms representing over 280,000 consultants from around the world participated in this benchmark. The 2024 report offers over 17 years' worth of insight and analysis into the market with a view to the key success factors that drive exceptional performance.
2023 was a difficult year for the professional services market. PS firms showed that the increase in revenue was its lowest in over a decade, but profitability was close to the 2022 level. An uncertain economy coupled with rising inflation and interest rates lead to a slow sales increase. However, the reintroduction of artificial intelligence motivated the industry and will be a driving factor for the next decade.
The Professional Services Maturity™ Benchmark provides clear metrics and guidance on over 155 key performance measurements. The report is designed to enable PS leaders to self-assess their organizations to determine where they should begin performance improvement initiatives. The Professional Services Maturity™ Benchmark and score-carding process takes the guesswork out of metrics. Completing the PS Maturity™ survey can highlight new avenues for improvement and enable PSOs to conduct their own self-assessment.