According to an announcement by NetSuite Australia , NetSuite leads the Professional Services Automation market for the third consecutive year.
NetSuite Inc. is an industry-leading provider of cloud-based financials and ERP software suites.
According to the SPI Research 2011 Professional Services Maturity Benchmark Report, companies using NetSuite's OpenAir professional services automation (PSA) and service resource planning (SRP) software are among the highest performing when evaluated side-by-side against peer organisations.
The report also states that NetSuite owns 20 percent of the market share, while the closest competitor has only 12 percent.
Additionally, four out of 12 ‘Best-of-the-Best’ professional services organisations participating in the study are using NetSuite OpenAir software to manage key business processes across project management, resource management and project accounting.
NetSuite OpenAir customers receiving top honours include Advent Software, Informatica and TOP Step Consulting.
The report is based on a survey of over 214 professional services organisations (PSO) on a range of operational best practices.
‘Best-of-the-Best’ honours go to the top 12 firms who have significantly outperformed the benchmark average by scoring four out of five or better in all five service performance dimensions in the SPI report: Vision, Finance and Operations, Service Execution, Human Capital Alignment and Client Relationships.
According to Jeanne Urich, Managing Director at SPI Research, over 610 services organisations were researched to establish this year’s benchmarking survey.
A common element across leading organisations in the survey was the application of a PSA or SRP solution to bolster revenue growth, increase resource utilisation and support globally diverse workforces.
PSA solutions improve efficiencies and boost profitability for services organisations through increased employee utilisation rates, decreased manual data entry, reduced IT maintenance costs, and accelerated invoice and billing cycles.
Key benefits of NetSuite OpenAir’s professional services automation (PSA) and services resource planning (SRP) software:
- Helps services organisations automate and manage key aspects of their business from marketing and project management to service delivery and revenue management
- Helps global services organisations meet the challenges of global services delivery including support for multiple languages, currencies, taxation rules and employee work guidelines
- Provides organisations with real-time global visibility across their entire business
- Helps services organisations take advantage of dramatic cost savings, service delivery improvement and productivity benefits of cloud computing
Key report findings
- NetSuite is the dominant PSA solution provider with 20% of survey participants leveraging one or more NetSuite solutions
- 4 of the 12 SPI Research top performers are customers of NetSuite products
- Over 88% of the ‘Best-of-the-Best’ firms surveyed have PSA solutions in place, providing a competitive edge
- 57% of PSA users run their application in the cloud, while 13% stated that they plan to move their PSA to the cloud within three years
- Embedded Software as a Service PS organisations have shifted from cost centres to profit centres
- The PS workforce is becoming more global with 58% of employees at participating organisations located outside of North America
Edward Marshall, NetSuite's SVP of Product Strategy for Professional Services comments that NetSuite is committed to providing solutions that enable their customers to succeed in this new business climate, a fact validated by the SPI report.