2023 PS Maturity™ Benchmark
Item Number: SPI23PSMB
You should receive a link to the PDF within 1-day.The Professional Services Maturity™ Benchmark is designed to help Professional Service Organizations (PSOs) understand their relative performance compared to an expansive benchmark of peers. It provides visibility into critical business processes and key performance measurements so organizations can compare, diagnose and improve their own performance. It provides prescriptive advice so organizations can pinpoint current levels of maturity and visualize the steps required to advance to the next level.
Service Performance Insight (SPI) first introduced the "New Professional Services Maturity Model™" benchmark report in January, 2008. Since that time more than 35,000 PS organizations have adopted it to chart their course to service excellence.
The 709 Professional Services organizations represented in this benchmark employ over 430,000 consultants, making it the largest survey in SPI Research’s history. Collectively these firms generated over $76 billion in PS revenue. Now in its 16th year, the Professional Services Maturity™ benchmark remains the gold standard for the technology services sector with input from nearly 6,000 project and services-based organizations.
The report contains:
- 230 pages with 351 insightful charts and graphs
- Analysis derived from 709 Professional Service Organizations representing over 430,000 consultants
- Five-year trend analysis for 146 key performance indicators (KPIs)
- Detailed income statements
- Analysis of the Top 20% High Performance PS firms
Detailed analysis of 8 Professional Services vertical markets:
- IT Consulting: 173 firms representing ~ 93,000 consultants;
- Management Consulting: 106 firms representing ~ 35,000 consultants;
- PS within Software Company: 84 firms representing ~ 74,000 consultants;
- PS within SaaS Company: 73 firms representing ~ 43,000 consultants;
- Architecture/Engineering: 67 firms representing ~ 25,000 consultants;
- Advertising/Marketing/PR: 46 firms representing ~ 6,000 consultants;
- Healthcare/Medical/Pharma/Biotech: 22 firms representing ~ 36,000 consultants;
- Accounting: 19 firms representing ~ 17,000 consultants;
- Other markets included on the overall analysis include: Staffing, Managed Services/Hosting, Govt. Contracting, PS within Hardware and Networking, Construction, Research & Development, Manufacturing, Value-added Reseller (VAR), Public Sector, and other PS.
For professional service organizations, 2022 should have been a year to get back to “normal.” But there is no normal. Global events including inflation, supply chain dysfunction, war and yes, COVID in China, all impacted the global economy.
Professional services organizations (PSOs) did their best and improved on both growth (10.4%) and profit (16.1%) as the market had a solid year. However, most of the major performance metrics went down, which should cause concern for the market.
PSOs showed lower billable utilization (70.7% in 2022 vs. 73.2% in 2021), less work completed on time (76.2% vs 80.2%), and lower project margins (35.0% vs 36.5%), reflecting the need for performance improvement in 2023.
A lack of technology talent did not cause the problems first anticipated, as many technology providers adjusted their workforces to balance supply and demand. This cycle has repeated itself many times over, and it won’t be too long until the technology market heats back up.
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