Kantata Ranks as #1 Supplier of Professional Services Automation for Second Consecutive Year in Annual SPI Research Benchmark Survey
Over 40% of High-Performance Professional Services Organizations Trust Kantata to Gain Valuable Insights that Drive Growth and Profitability
IRVINE, Calif., and LONDON – February 21, 2024 – Kantata, a leading global supplier of purpose-built technology for professional services, today announced that it is recognized as the leading provider in the Service Performance Insight’s (SPI) Professional Services Automation (PSA) category in the 2024 edition of the Professional Services Maturity™ Benchmark, marking its second consecutive year at the top of the category.
Kantata’s solutions are embraced by 200 of the 575 firms surveyed in the 2024 SPI Benchmark, accounting for 35.7% of the total participants. This adoption rate significantly eclipses any other supplier in SPI’s PSA category, with the nearest competitor securing just 10.2% market engagement. Kantata’s commanding market presence is a testament to its ability to meet and exceed the dynamic needs of professional services firms.
Amidst global economic fluctuations that drove a 25% decrease in PS revenue in 2023, according to benchmark data, Kantata’s customers continue outperforming the field. Each year, SPI identifies a select group of High-Performance Services Organizations (HPOs)—those with superlative performance across SPI’s five Service Performance Pillars, leadership, client relationships, talent, service execution, and finance and operations, putting them in the top 20% of survey respondents. Notably, among the firms recognized as HPOs, Kantata boasts 48 clients. This represents 41.7% of the high-performing segment, affirming Kantata’s pivotal role in elevating industry standards and nurturing business excellence. This achievement is attributed to the advanced strategic insights, increased visibility, and improved operational efficiencies Kantata’s Professional Services Cloud provides.
“2023 presented unique challenges due to high-interest rates, uncertain economic conditions, and geopolitical conflicts, slowing growth and hiring in the professional services sector,” said Dave Hofferberth, Managing Director of Service Performance Insight. “Despite a tough year, our analysis of nearly 600 organizations shows a strong correlation between exceptional performance and the use of solutions purpose built for the unique needs of professional services organizations. The positive impact solutions like Kantata have on a range of key performance indicators clearly highlights how important strategic adoption of technology will be in navigating challenges in 2024 and beyond.”
“We are delighted to see so many Kantata customers recognized as leaders in this year’s edition of the SPI benchmark. The professional services landscape is ever-evolving, and at Kantata, we believe in the power of the SPI benchmark as a crucial strategic asset every PS firm should be using to understand their performance,” said Ken Ringdahl, Chief Technology Officer for Kantata. “Our purpose-built solutions are designed to offer deep, actionable insights into performance that directly contribute to our customers’ growth and success. By aligning with strategic benchmarks, we can better guide our efforts and enable our customers to achieve their ambitions with innovation and clarity.”
For more information on the SPI Benchmark, listen to the on-demand webinar with Dave Hofferberth, Managing Director of SPI, and Charles Gustine, Brand Evangelist at Kantata, who present key insights from SPI’s latest benchmark survey, providing PS leaders with keys to achieving peak performance.
About Kantata:
Kantata takes professional services automation to a new level, giving people-powered businesses the clarity, control, and confidence they need to optimize resource planning and elevate operational performance. Our purpose-built cloud software is helping over 2,000 professional services organizations in more than 100 countries focus and optimize their most important asset: their people. By leveraging the Kantata Professional Services Cloud, professionals gain access to the information and tools they need to win more business, ensure the right people are always available at the right time, and delight clients with project delivery and outcomes.
Media Contact:
Jen Dodos
949-322-6181
jen.dodos@kantata.com