2024 PS Maturity™ Benchmark

Item Number: SPI24PSMB
Price: $2,495

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 50,000 PS organizations have adopted it to chart their course to service excellence.

The 575 Professional Services organizations represented in this benchmark employ over 280,000 consultants. Collectively these firms generated over $72 billion in PS revenue. Now in its 17th year, the Professional Services Maturity™ Benchmark remains the gold standard for the technology services sector with input from nearly 6,500 project and services-based organizations.

The report contains:

  • 229 pages with over 250 insightful charts and graphs.
  • Analysis derived from 575 Professional Service Organizations representing over 280,000 consultants.
  • Five-year trend analysis for 156 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: 132 firms representing ~89,935 consultants.
  • Management Consulting: 74 firms representing ~9,420 consultants.
  • PS within SaaS Company: 69 firms representing ~40,345 consultants.
  • PS within Software Company: 47 firms representing ~23,820 consultants.
  • Architecture/Engineering: 59 firms representing ~9,085 consultants.
  • Agency: 52 firms representing ~19,380 consultants.
  • Healthcare PS: 21 firms representing ~14,550 consultants.
  • Other PS: 121 firms representing ~78,000 consultants. Other markets included in 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.
2023 was a difficult year in professional services as inflation and interest rates created havoc in the market. The exciting news is that every industry has taken note of Artificial Intelligence (AI) and its potential to drive greater efficiency globally. This technology, while around for decades but only recently has gained worldwide attention, should be a boon for the Professional Services market as they will both use AI and sell AI services to clients that know this is a transformational technology.

Professional services organizations (PSOs) had the lowest annual growth in over a decade (7.8%) but maintained profitability over 15%. For the second consecutive year PSOs showed lower billable utilization (69.3% in 2023 vs. 70.7% in 2022), less work completed on time (75.7% vs. 76.2%), and lower project margins (34.4% vs. 35.0%), reflecting the need for performance improvement in 2024.

Business solutions, including Project-based ERP (PBERP) and Professional Services Automation (PSA) have grown in capabilities and adoption as the market continues to better understand their benefits. AI could be the icing on the cake for the business application vendors as all are developing new AI capabilities to drive performance improvements. Professional Services PBERP and PSA vendors highlighted in the report include: Certinia, Deltek, Kantata, Microsoft, NetSuite, Oracle, Planview, Rocketlane, Salesforce.com, SAP, Timelog, Workday and others are highlighted in this report.

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