FinancialForce PSA Product Leads by a Wide Margin, According to the Tsia 2019 Professional Services Tech Stack Survey
FinancialForce announced that it leads all competitors by a wide margin as the most installed PSA solution, according to a new report released by the Technology Services Industry Association (TSIA).
Announced at TSIA’s Technology & Services World conference, the TSIA 2019 Professional Services Tech Stack Survey, which defines the recommended technology stack for professional services, found that FinancialForce PSA is the top installed PSA product in the market, with 69% of survey respondents using FinancialForce. The nearest competitor was used by only 12% of respondents.
“The TSIA 2019 Professional Services Tech Stack Survey speaks volumes about the popularity of FinancialForce PSA and how the platform is becoming increasingly important to the success of professional services organizations,” said Lori Ellsworth, FinancialForce Vice President, PSA Product Management. “As the leading enterprise PSA platform, FinancialForce brings predictability and efficiency to every stage of service delivery, helping the world’s largest enterprise organizations grow more rapidly.”
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The TSIA report also found that PSA adoption among all organizations is on the rise, with PSA usage growing dramatically over the last year, from 61% in 2018 to 82% in 2019. What’s more, the study revealed that 40% of respondent organizations are planning new or additional spending on PSA in the coming year. Leading the charge are large organizations with revenue of $10 billion or more, of which 57% have plans to increase their PSA spending over the next 12 months, according to the TSIA survey.
“Technology is incredibly important to the success of professional services teams. That’s why they are turning to PSA platforms like FinancialForce to take their business to the next level,” said John Ragsdale, TSIA Distinguished Vice President, Technology Research. “Today’s PSA platforms, such as top-installed solution FinancialForce, now come complete with the rich feature set and sophistication that large global organizations need to boost productivity and increase profitability.”