Perficient

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Perficient
Public
Traded as NASDAQPRFT
S&P 600 Component
Industry Management consulting
Technology services
Outsourcing
Founded 1997
Headquarters St. Louis, Missouri
Area served
Worldwide
Key people
Jeffrey S. Davis
(CEO)
Revenue US$473.6 million (2015)[1]
US$45.59 million (2014)[1]
US$24.18 million (2014)[1]
Number of employees
~2,800 (2016)
Website Perficient.com

Perficient, Inc. is a "digital transformation" consulting firm serving Global 2000 and enterprise customers throughout North America using digital experience, business optimization and industry solutions.[2] In the past year, it has expanded its expertise in enterprise mobile applications, creative services, marketing, and strategy.[3] Perficient has a presence across North America, Europe, India, and China.[4] Their work includes information technology, management consulting, custom development, and platform implementations through partnerships with companies including IBM, Oracle, Microsoft, Salesforce.com and Adobe. The firm primarily performs project-based work, a large portion of which involves business intelligence and portal collaboration. Many of their customers look to use technology to support a product or service that is differentiating for them, so customization is a common service offered by the firm. Perficient also has offshore capabilities.[5][6]

Perficient's clients have included AT&T, Bank of America, the Boy Scouts of America, Family Dollar, Lowe's, Piedmont Natural Gas, Wells Fargo,[5] Allstate, Atlanta Gas Light, Chick-fil-A, Duke University, Electrolux, Garmin, Georgia-Pacific, Meijer, Pacific Life, Time Warner Cable,[7] Shell Oil, Cox Communications, the US Navy, Northrup Grumman, the Texas Children's Hospital, Eagle Global Logistics, Chevron, Schlumberger, Sysco, and Reliant Energy.[8]

History[edit]

Formation and early years[edit]

The company was founded in Austin, Texas in August 1997 by Bryan Menell. The company's mission was to help Global 2000 companies implement web-based enterprise software packages, which in 1997 was a green field opportunity. The first angel investors in the company were Steve Papermaster and David Lundeen. The company secured its first channel partnership with Vignette, a provider of content management systems. Additional partnerships with internet technology companies followed, and Perficient consultants deployed internet software packages at leading US companies.

In late 1998 the company recruited Jack McDonald in the role of CEO, with the goal of taking the company public and using public equity to drive a mergers and acquisitions growth strategy. The company's stock began trading on July 29, 1999 and was issued at $8 per share, ending its first day of trading at $9.375 and closing at $11.75 by that Thursday. In December 1999 the company completed its first acquisition of LoreData based in New London, Connecticut. In May 2000, Perficient acquired Compete, Inc., an 80-person IBM focused consulting firm, and its largest acquisition to date. This expanded Perficient's consulting reach by adding IBM as a partner.

Jeffrey Davis was named CEO in September, 2009[9] During Mr. Davis' tenure as CEO, the firm has added over 1,000 more employees and has added more than $200 million in annual revenues. The company also transitioned from the Nasdaq SmallCap Market to the Nasdaq Global Select Market. Perficient was also added to the Russell 2000 and S&P SmallCap 600 indices.[5]

Growth[edit]

In the ten-year span between 1999 and 2009, Perficient grew from 9 employees to over 1,000 employees and was cited in the a 2005 edition of BusinessWeek: :"Little-known Perficient (PRFT), whose solid first quarter represented its ninth straight period of increased operating earnings, isn't done pulling favorable surprises."[10]

In 2010, Perficient moved its headquarters to Town & Country in St. Louis, Missouri.[11] Perficient was named to the Forbes list of "The Companies Hiring The Most Right Now" in August, 2010. This list classified "midsize companies with the greatest number of job openings listed at the moment."[12]

"There's been a lot of demand building in health care over the last six months", Davis says. "It's moving at the best clip we've seen in the last six years." Much of that activity comes from companies preparing to adapt to the requirements of the health care legislation that passed the United States Congress in the spring and will take effect by 2014.[12]

In 2011, Perficient acquired business and management consulting firm, Exervio for $13.6 million.[13] Perficient's 2011 fourth quarter profit more than doubled the prior year's performance. CEO Jeffrey Davis characterized 2011 as "a great year for Perficient," with "solid growth and accelerating earnings."[14]

In 2012, Perficient acquired collaboration, content management, unified communications and business intelligence firm, PointBridge Solutions, LLC for $22 million.[15] Perficient then acquired services and technology consulting firm Nascent Systems LP, adding business and technology consulting for enterprise resource planning (ERP), expanding its E-Business Suite applications and growing annual revenue to nearly $340 million.[16] in July, 2012, Perficient acquired another collaboration solutions company, Northridge Systems, an expert in Microsoft SharePoint. This acquisition supposedly increased Perficient's capabilities in "technology solutions that drive workforce productivity and brand experience solutions that drive customer loyalty." [17]

In 2013, Perficent acquired TriTek Solutions Inc., an IBM- focused enterprise content management and business process management consulting firm for $18.5 million.[18] Perficient then acquired two salesforce.com firms, CoreMatrix Systems LLC[19] and Clear Task, Inc.[20]

In 2014, the company made three acquisitions: ForwardThink Group,[21] BioPharm Systems,[22] and the IBM Smarter Commerce Division of Trifecta Technologies.[23] Perficient also announced that year its plans to open a domestic delivery center in Lafayette, Louisiana that would create 245 new direct jobs at salaries of around $60,000 plus benefits.[24]

In 2015, Perficient acquired Market Street Solutions, Inc.,[25] an IT consulting firm specializing in big data, analytics and management solutions. In December 2015, Perficient acquired Enlighten, a digital marketing agency.[26]

In 2016, Perficient experienced record growth, "a $5.8 million profit for the second quarter, a 45 percent increase over the same period last year."[27] The same year, Perficient announced it has entered into a multi-year partnership with the St. Louis Cardinals.[28] It also announced the launch of Perficient Digital, a full-service, 200-person digital agency division that, according to CEO Jeff Davis, provides "front-end support services around creative design, branding and search engine optimization as well as back-end support around commerce and transactions." [29]

Partners[edit]

Microsoft[edit]

Perficient is a Microsoft Gold Certified partner.[30] They are "widely-regarded as one of the largest and most capable Microsoft systems integrator partners in the country." [17]

In 2013, Microsoft recognized Perficient as its "2013 U.S. Partner of the Year" and awarded Perficient three separate regional awards related to Cloud Computing. Perficient became known for its experience with migrations and deployments related to Microsoft Office 365, Microsoft Azure, Microsoft Lync, Yammer, Microsoft SharePoint, Windows Intune and Dynamics CRM.[31]

The same year, Microsoft also recognized Perficient's healthcare expertise by giving the firm "Microsoft's 2013 Healthcare Provider Partner of the Year" award for "using Microsoft technology to deliver innovative healthcare solutions."[32]

Oracle[edit]

Perficient is an Oracle Platinum Partner and delivers solutions around Oracle Business Intelligence, Oracle Enterprise Performance Management (EPM), Customer Experience (CX), Enterprise Resource Planning (ERP), Vertex Tax Technology, WebCenter, business process automation, and Oracle Fusion Middleware.[33]

IBM[edit]

As a Premier Level IBM partner, Perficient advises companies on social business, content management, enterprise portals and E-commerce solutions.[34]

Salesforce[edit]

Perficient is a Platinum Salesforce.com Cloud Alliance Partner.[35] In 2013, Perficient made two acquisitions related to Salesforce.com: New York City-based CoreMatrix Systems and San Francisco-based ClearTask. "We now have the comprehensive capacity to sell and deliver Salesforce solutions across the entire United States", said CEO, Jeff Davis.[36] Perficient was recognized for its Salesforce expertise when it won the 2016 Salesforce Partner Innovation Award in Healthcare and Life Sciences in November, 2016.[37]

Adobe[edit]

Perficient is an Adobe implementation partner.[38]

Philanthropy[edit]

Perficient was recognized by CRN Magazine in January, 2015 as one of "10 Solution Providers That Made A Difference In 2014." Its colleagues also built an application that allows Big Brothers Big Sisters to automate scheduling for its Sports Buddies program.[39]

The company migrated the infrastructure and 3,000 employees of Partners in Health to a Microsoft Office 365 suite at the purchasing price without any markup, bringing cloud-based communications to the nonprofit whose workers previously had to go to internet cafes to read or send email.[40]

Industry Experience[edit]

Financial Services[edit]

After acquiring ForwardThink Group in 2014, the company now has specialties in business process improvement, payments, finance transformation and risk management.[35]

Perficient advises companies on mobile banking strategies, including deposit capture, mobile alerts, imaging, payments and location-based services. "The mobile banking experience is the foundation for a bank's digital persona", he says. [41]

Perficient also advises financial services organizations on data governance and master data management, as well as how Big Data is impacting the space in the areas of Voice of the Customer (VOC), risk and fraud patterns, real-time segmentation for customer loyalty and retention.[41]

Healthcare[edit]

Perficient is #71 on the Healthcare Informatics 100 list, which recognizes the top 100 vendors with highest revenue derived from healthcare IT products and services.[42] They are also considered an expert in consumer-driven healthcare Healthcare Information Technology[30] and a key healthcare business intelligence market player.[43]

In 2012, Perficient and IBM worked with Premier healthcare alliance to create "an ecosystem for healthcare that makes it easy for users to communicate, collaborate, share and analyze data in order to improve outcomes and solve pressing medical problems." [44] Later that year, they launched PremierConnect, a collaboration platform for members of Premier healthcare alliance, an association that maintains the nation's largest clinical, financial, and outcomes database, and information on one in four U.S. patient discharges. PremierConnect brings data together from 2,700 U.S. hospitals to better manage population health and care management.[45]

In early 2012, Perficient built a HealthBI suite on leveraging Microsoft technology, designed to handle performance benchmarks to meet Meaningful Use and Accountable Care Organization (ACO) rules.[46]

Perficient's healthcare technology consultants advise clients on predictive analytics, Accountable Care solutions, Interoperability, health information exchange (HIE), and Meaningful Use.[47]

Their team of experts believe that new and social technologies, massive amounts of data, and compliance requirements are requiring rapid transformation and modernization in the healthcare industry. They believe that the company's healthcare capabilities in the areas of portal and collaboration, business intelligence and analytics, and enterprise health information exchange will help organizations achieve modernization, integration and efficiency.[48]

In 2012, Perficient developed new solutions in big data analytics that "help track the spread of disease based on streaming data and visualize global outbreaks which could ultimately determine the source of an infection." [49]

Perficient partnered in 2012 with NASCO, a Health Plan solutions provider that ensure Blue Cross and Blue Shield organizations can serve their members through web services, delivery and governance. As part of this project, Perficient recommends key SOA standards for NASCO's service governance lifecycle, with the goal of improving customer satisfaction, lowering costs, improving performance, and delivering the right solution at the right time.[50]

Life Sciences[edit]

The company boosted its life sciences industry capabilities in 2014 with the acquisition of BioPharm Systems, which brought to Perficient capabilities in consulting around management of clinical trials, clinical data management, and safety, as well as Oracle's Health Sciences applications.[51]

Key acquisitions[edit]

Company Date Acquired Capabilities Purchase Price Former Headquarters
RAS & Associates January 4, 2017 Management Consultancy (undisclosed) Denver, CO[52]
Bluetube October, 2016 Digital agency (undisclosed) Atlanta, GA[53]
Enlighten December, 2015 Digital agency (undisclosed) Ann Arbor, Michigan[54]
Market Street Solutions, Inc. Sep, 2015 IT Consulting $5.3 million Chattanooga, Tennessee[55]
Zeon Solutions Inc. and Grand River Interactive LLC Jan, 2015 E-Commerce Solutions $35.7 million Milwaukee, Wisconsin[56]
IBM Smarter Commerce Division of Trifecta Technologies May, 2014 IBM WebSphere Commerce $13.7 million Allentown, Pennsylvania[57]
BioPharm Systems April, 2014 Life Sciences Technology Consulting $17.6 million San Francisco, California[51]
ForwardThink Group February, 2014 Financial Services Consulting $46 million New York City[35]
CoreMatrix Systems LLC October, 2013 salesforce.com $21.5 million New York City[36]
Clear Task, Inc. May, 2013 salesforce.com $7.9 million San Francisco[58]
TriTek Solutions May, 2013 IT Consulting $18.5 million Annandale, Virginia[18]
Northridge July, 2012 IT Services $14.4 million Atlanta[59]
Nascent Systems LP June, 2012 IT Services $18.1 million Dallas, Texas[60]
PointBridge Solutions February, 2012 Web Content Management $22 million Chicago[61]
JCB Partners LLC July, 2011 Enterprise Performance Management $18 million Denver, Colorado[62]
Exervio, Inc. April, 2011 Management Consulting $13.6 million Charlotte, NC[13]
speakTECH December, 2010 Web Design $15 million Costa Mesa, California[63]
Kerdock Consulting March, 2010 Enterprise Performance Management $6 million Houston, Texas[64]
ePairs November, 2007 CRM $6 million Cupertino, California[65]
BoldTech Systems, Inc. September, 2007 Offshoring $20.8 million Denver, Colorado[66]
Tier1 Innovation, LLC June, 2007 CRM $14.3 million Denver, Colorado[67]
E-Tech Solutions February, 2007 IT Consulting $12.2 million Philadelphia, Pennsylvania[7]
Energy, Government and General Business (EGG) division of Digital Consulting & Software Services, Inc. July, 2006 IT Consulting $12.9 Million Houston, Texas[68]
Insolexen May, 2006 Enterprise Application Integration $13.4 million Novi, Michigan[69]
Bay Street Solutions April, 2006 CRM $9.3 million San Francisco, California[70]
Vivare September, 2005 Service Oriented Architecture $9.4 million Dallas, Texas[71]
iPath Solutions June, 2005 Enterprise Content Management $7.9 million Houston, Texas[72]
ZettaWorks LLC March, 2005 IT Consulting $10.7 million Houston, Texas[73]
Meritage Technologies June, 2004 Enterprise Portals and Collaboration $9.5 million Columbus, Ohio[74]
Genisys Consulting Inc. April, 2004 IT Consulting $7.9 million Chicago[75]
Vertecon Inc. October, 2001 IT Consulting (undisclosed) St. Louis, Missouri[76]
Javelin Solutions October, 2001 IT Consulting (undisclosed) Minneapolis[77]
Compete, Inc. May, 2000 IT Consulting $63 million Lisle, Illinois[78]
LoreData December, 1999 IT Consulting (undisclosed) New London, Connecticut

Awards[edit]

  • Perficient was ranked number 10 by readers of Consumer Goods Technology Magazine in the 2009 Readers' Choice Survey of Top Consulting Firms.[79]
  • Perficient was named to Forbes' 200 Best Small Companies List in October, 2009.[80]
  • Google Partner of the Year for 2013 in enterprise search[81]
  • Microsoft US Partner of The Year (2013)[82]
  • Denver Post names Perficient among the Post's Top Workplaces in 2014 [83]
  • Minneapolis Star Tribune names Perficient as one of the Star Tribune's Top Workplaces in 2012, 2013, and 2015.[84]
  • St. Louis Post-Dispatch names Perficient as a Top Workplace in 2013, 2014, and 2015[85]
  • Healthcare Informatics Recognizes Perficient as one of the top 100 vendors with the highest revenues derived from healthcare IT products and services earned in the US.[86]

References[edit]

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  2. ^ [1] October 16, 2015
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  6. ^ "Magento Partners with Adobe to Redefine Commerce Experience". Retrieved 6 January 2017. 
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  64. ^ Perficient buys Kerdock Consulting St. Louis Business Journal March 29, 2010
  65. ^ Perficient Acquires ePairs, Inc. BNET November 23, 2007
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  70. ^ Perficient to Buy Bay Street Solutions Austin Business Journal April 7, 2006
  71. ^ Perficient Buys Dallas IT Consulting Firm Austin Business Journal September 6, 2005
  72. ^ Austin IT consulting firm buys iPath for $7.9M HOUSTONBizJournal June 13, 2005
  73. ^ Perficient completes ZettaWorks purchase Austin Business Journal March 7, 2005
  74. ^ Perficient acquires Columbus company Austin Business Journal June 21, 2004
  75. ^ Perficient buys Illinois company for $7.9M Austin Business Journal April 5, 2004
  76. ^ Vertecon purchased by Austin IT firm Saint Louis Business Journal October 3, 2001
  77. ^ Perficient to acquire consulting firm October 29, 2001
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External links[edit]