As a testament to our commitment to quality and operational excellence, Stoneridge Software has recently earned a place in the Best-of-the-Best professional service organizations identified by SPI (Service Performance Insight) Research, the leading independent professional services research firm.
From a total of 549 companies participating in the 2016 Professional Services Maturity™ Benchmark study conducted by SPI Research, the top 20 firms were identified as outperforming their peers and the benchmark average with higher profit, larger projects, and more satisfied clients.
“We take a lot of pride in our culture of continuous improvement, so we studied the Professional Service Maturity™ report last year to understand how we could get better. This year, when we submitted the required information to be part of the benchmark study, our performance earned us a spot in the top 20 firms. We’ve been able to retain and develop our team while maintaining strong client relationships, and driving impressive financial performance. It’s the well-balanced organizations that SPI Research highlights, and we’re honored to be one of the Best-of-the-Best,” said Stoneridge President Eric Newell.
Those organizations that made up the top 20 performers of the 2016 PSM™ Benchmark study, grew services revenues on average 20 percent for the year, compared to revenue growth of 9.8 percent for average consulting organizations. To support their expansion, top companies augmented their consulting workforces by 17.2 percent compared to 7.4 percent headcount growth for average firms. SPI Research’s Best-of-the-Best excel across five critical service performance dimensions: leadership, client relationships, human capital alignment, service execution and finance and operations.
For the past seven years, SPI Research has conducted in-depth analyses of the top five percent of PS Maturity™ benchmark participants to uncover the reasons for their superlative performance. Top performers tend to be more specialized than average firms; they concentrate on high growth technologies or vertical industries. Because of their sterling reputations, a significant portion of their business comes from referrals.
“We appreciate the recognition for the quality of the organization we’ve built in three fast-paced years. The five pillars of Service Performance (Leadership, Client Relations, Human Capital Alignment, Service Execution and Finance and Operations) are aligned with our core values as a company,” said Newell. “From the beginning our mission has been to be the best provider of Microsoft Dynamics ERP consulting and we are thrilled to be acknowledged for our operational excellence as we continue to grow our presence in the marketplace.”
The 2016 Professional Services Maturity™ Benchmark provides insights into key metrics, trends and best practices of leading service organizations. The report includes 216 pages with 237 tables and charts.
Stoneridge Software’s mission is to enable businesses by increasing efficiency and improving operational and financial processes. A Microsoft partner based in Minnesota, Stoneridge Software sells, implements and services Dynamics AX and NAV products for mid-market and large businesses. The company has broad expertise in business technology solutions, from development to finance and project, manufacturing, supply chain, and system and project management. Stoneridge Software has offices in Barnesville and Minneapolis, Minn.
SPI is a global research, consulting and training company dedicated to helping professional service organizations make quantum improvements in productivity and profit. In 2007, SPI developed the PS Maturity Model™ as a strategic planning and management framework which has become the industry-leading performance improvement tool used by more than 10,000 service and project-oriented organizations to chart their course to services excellence.