Perficient

Perficient
Public
NASDAQ: PRFT
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] Perficient has a presence across North America, Europe, India, and China.[3] Their work includes information technology, management consulting, custom development, and platform implementations through partnerships with companies including IBM, Oracle, Microsoft, and Salesforce.com. 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.[4]

Perficient's clients have included AT&T, Bank of America, the Boy Scouts of America, Family Dollar, Lowe's, Piedmont Natural Gas, Wells Fargo,[4] Allstate, Atlanta Gas Light, Chick-fil-A, Duke University, Electrolux, Garmin, Georgia-Pacific, Meijer, Pacific Life, Time Warner Cable,[5] Shell Oil, Cox Communications, the US Navy, Northrup Grumman, the Texas Children's Hospital, Eagle Global Logistics, Chevron, Schlumberger, Sysco, and Reliant Energy.[6]

History

Formation and early years

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[7] 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.[4]

Growth

In the ten-year span between 1999 and 2009, Perficient grew from 9 employees to over 1,000 employees.

Perficient was featured in the June 20, 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."[8]

In 2010, Perficient moved its headquarters to Town & Country in St. Louis, Missouri.[9]

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."[10]

"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.[10]

In 2011, Perficient acquired business and management consulting firm, Exervio for $13.6 million.[11]

"Exervio's high-value portfolio of management consulting skills significantly enhances our existing business consulting qualifications and offers strong pull-through potential for our custom and packaged application development, implementation and integration services", said Jeffrey Davis, Perficient's chief executive officer and president.[12]

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."[13]

In February, 2012, Perficient acquired collaboration, content management, unified communications and business intelligence firm, PointBridge Solutions, LLC for $22 million.[14]

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.[15]

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." [16]

In May, 2013, Perficent acquired TriTek Solutions Inc., an IBM- focused enterprise content management and business process management consulting firm for $18.5 million.[17]

In 2013, Perficient acquired two salesforce.com firms, CoreMatrix Systems LLC[18] and Clear Task, Inc.[19]

The company made three acquisitions in 2014: ForwardThink Group,[3] BioPharm Systems,[20] and the IBM Smarter Commerce Division of Trifecta Technologies.[21]

Perficient announced in September, 2014 that it 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.[22]

In September, 2015, Perficient acquired Market Street Solutions, Inc.,[23] an IT consulting firm specializing in big data, analytics and management solutions. In December 2015, Perficient acquired Enlighten, a digital marketing agency.[24]

In April, 2016, Perficient announced it has entered into a multi-year partnership with the St. Louis Cardinals.[25]

Also in April, Perficient launched 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." [26]

Partners

Microsoft

Perficient is a Microsoft Gold Certified partner.[27] They are "widely-regarded as one of the largest and most capable Microsoft systems integrator partners in the country." [16]

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.[28]

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."[29]

Oracle

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.[30]

IBM

As a Premier Level IBM partner, Perficient advises companies on social business, content management, enterprise portals and E-commerce solutions.[31]

Salesforce

Perficient is a Gold Salesforce.com Cloud Alliance Partner.[3] 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.[18]

Community Outreach

St. Louis Rams

Perficient became an official community sponsor of the St. Louis Rams in 2014.[32]

The company, No. 66 on the CRN Solution Provider 500, participated in the Rams' Staff Days of Service Program in 2014, which included a playground build at a residential treatment center for severely disabled children. Through this partnership, it helped the St. Louis area Boys' and Girls Club and several other local charities.[32]

Philanthropy

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.[32]

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.[33]

Industry Expertise

Financial Services

After acquiring ForwardThink Group in 2014, the company now has specialties in business process improvement, payments, finance transformation and risk management.[3]

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. [34]

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.[34]

Healthcare

Perficient is an expert in consumer-driven Healthcare Information Technology.[27]

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." [35] 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.[36]

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.[37]

Perficient's healthcare technology consultants advise clients on predictive analytics, Accountable Care solutions, Interoperability, health information exchange (HIE), and Meaningful Use.[38]

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.[39]

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." [40]

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.[41]

Life Sciences

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.[20]

Key acquisitions

Company Date Acquired Capabilities Purchase Price Former Headquarters
Bluetube October, 2016 Digital Agency (undisclosed) Atlanta, GA[42]
Enlighten December, 2015 Digital Agency (undisclosed) Ann Arbor, Michigan[43]
Market Street Solutions, Inc. Sep, 2015 IT Consulting $5.3 million Chattanooga, Tennessee[44]
Zeon Solutions Inc. and Grand River Interactive LLC Jan, 2015 E-Commerce Solutions $35.7 million Milwaukee, Wisconsin[45]
IBM Smarter Commerce Division of Trifecta Technologies May, 2014 IBM WebSphere Commerce $13.7 million Allentown, Pennsylvania[21]
BioPharm Systems April, 2014 Life Sciences Technology Consulting $17.6 million San Francisco, California[20]
ForwardThink Group February, 2014 Financial Services Consulting $46 million New York City[3]
CoreMatrix Systems LLC October, 2013 salesforce.com $21.5 million New York City[18]
Clear Task, Inc. May, 2013 salesforce.com $7.9 million San Francisco[19]
TriTek Solutions May, 2013 IT Consulting $18.5 million Annandale, Virginia[17]
Northridge July, 2012 IT Services $14.4 million Atlanta[46]
Nascent Systems LP June, 2012 IT Services $18.1 million Dallas, Texas[15]
PointBridge Solutions February, 2012 Web Content Management $22 million Chicago[47]
JCB Partners LLC July, 2011 Enterprise Performance Management $18 million Denver, Colorado[48]
Exervio, Inc. April, 2011 Management Consulting $13.6 million Charlotte, NC[11]
speakTECH December, 2010 Web Design $15 million Costa Mesa, California[49]
Kerdock Consulting March, 2010 Enterprise Performance Management $6 million Houston, Texas[50]
ePairs November, 2007 CRM $6 million Cupertino, California[51]
BoldTech Systems, Inc. September, 2007 Offshoring $20.8 million Denver, Colorado[52]
Tier1 Innovation, LLC June, 2007 CRM $14.3 million Denver, Colorado[53]
E-Tech Solutions February, 2007 IT Consulting $12.2 million Philadelphia, Pennsylvania[5]
Energy, Government and General Business (EGG) division of Digital Consulting & Software Services, Inc. July, 2006 IT Consulting $12.9 Million Houston, Texas[54]
Insolexen May, 2006 Enterprise Application Integration $13.4 million Novi, Michigan[55]
Bay Street Solutions April, 2006 CRM $9.3 million San Francisco, California[56]
Vivare September, 2005 Service Oriented Architecture $9.4 million Dallas, Texas[57]
iPath Solutions June, 2005 Enterprise Content Management $7.9 million Houston, Texas[58]
ZettaWorks LLC March, 2005 IT Consulting $10.7 million Houston, Texas[59]
Meritage Technologies June, 2004 Enterprise Portals and Collaboration $9.5 million Columbus, Ohio[60]
Genisys Consulting Inc. April, 2004 IT Consulting $7.9 million Chicago[61]
Vertecon Inc. October, 2001 IT Consulting (undisclosed) St. Louis, Missouri[62]
Javelin Solutions October, 2001 IT Consulting (undisclosed) Minneapolis[63]
Compete, Inc. May, 2000 IT Consulting $63 million Lisle, Illinois[64]
LoreData December, 1999 IT Consulting (undisclosed) New London, Connecticut

Awards

References

  1. 1 2 3 "Financial Tables". Perficient Investor Relations. Retrieved 2014-05-08.
  2. ↑ October 16, 2015
  3. 1 2 3 4 5 Perficient thinks vertical with latest acquisition ZDNet February 20, 2014
  4. 1 2 3 Perficient, Inc. President And CEO Jeff Davis Interviews With The Wall Street Transcript The Wall Street Transcript Mar 7, 2011
  5. 1 2 Perficient says acquires E-Tech Solutions for $12.2 mln Reuters February 21, 2007
  6. ↑ "Perficient Acquires Division of Digital Consulting and Software Services, Inc." (PDF) (Press release). Perficient, Inc. 2006-07-21. Archived from the original (PDF) on 2006-11-04.
  7. ↑ "Davis named CEO of Perficient" St. Louis Business Journal August 5, 2009
  8. ↑ "Happy Surprises At Perficient" BusinessWeek June 20, 2005
  9. ↑ "IT firm makes St. Louis home" St. Louis Post Dispatch Jan 6, 2010
  10. 1 2 "The Companies Hiring The Most Right Now" Forbes Aug 26, 2010
  11. 1 2 "Perficient buys Exervio for $13.6M" St. Louis Business Journal April 1, 2011
  12. ↑ "Perficient Acquires Exervio, Inc." Yahoo! Finance April 1, 2011
  13. ↑ "Perficient Q4 profit more than doubles" Saint Louis Business Journal, March 1, 2012
  14. ↑ "Perficient Acquires PointBridge Solutions" MarketWatch Feb 9, 2012
  15. 1 2 Perficient Expands Its Oracle EBS Expertise With Nascent Buyout BNET June 5, 2012
  16. 1 2 "Perficient Acquires Northridge Systems" Reuters, July 2, 2012
  17. 1 2 "Perficient acquires TriTek Solutions for $18.5 million" St. Louis Business Journal, May 2, 2013
  18. 1 2 3 Perficient extends acquisition streak, expands Salesforce.com integration skills ZDNet October 15, 2013
  19. 1 2 Perficient, Inc (PRFT): The Next Big Cloud Computing Stock? SKYY SmallCap Network October 17, 2013
  20. 1 2 3 "Biopharm Systems Acquired By Perficient" Clinical Leader, April 10, 2014
  21. 1 2 "Perficient Acquires IBM Smarter Commerce Division of Trifecta Technologies" MarketWatch, May 8, 2014
  22. ↑ "Perficient to open software development center in Lafayette" The Times-Picayune, Sep 4, 2014
  23. ↑ "Perficient acquires Tennessee IT consulting firm" St. Louis Post-Dispatch, Sep 18, 2015
  24. ↑ http://www.stltoday.com/business/local/perficient-acquires-digital-marketing-firm/article_617e0063-7082-54bd-b198-b3422cb91ff1.html
  25. ↑ "Tech company steps in as Hardee’s sign in Busch Stadium comes down" St. Louis Business Journal, Apr 5, 2016
  26. ↑ "Perficient Unveils $40M Dedicated Digital Agency Unit" CRN, Apr 20, 2016
  27. 1 2 "Perficient, a Prominent Microsoft Solution Provider, Buys Another in PointBridge for $22 Million" IT ChannelPlanet February 2012
  28. ↑ "Perficient snags Microsoft partner awards for cloud services" ZDNet July 19, 2013
  29. ↑ "Perficient Named Microsoft's Healthcare Provider Partner of the Year" Patton/TMCNet.com August 6, 2013
  30. ↑ "Perficient Relocates Dallas Office, Establishes Base Center of Excellence for Oracle Technology Practice" Enhanced Online News, January 13, 2012
  31. ↑ "IBM Partners Prep for Social Business at Lotusphere 2012" eWeek, January 15, 2012
  32. 1 2 3 "10 Solution Providers That Made A Difference In 2014" CRN, January 6, 2015
  33. ↑ "Perficient Aids Global Health Efforts With Cloud Solution" IT Best of Breed, December 30, 2014
  34. 1 2 "Retail Banking Predictions & Trends For 2013" The Financial Brand, Jan 9, 2013
  35. ↑ "Getting Buy-In From the Board" CIO Insight, January 17, 2012
  36. ↑ "PremierConnect Links Doctors, Brings Data Out Of Silos" InformationWeek Healthcare, October 30, 2012
  37. ↑ "Healthcare IT Goes Star Trek" InformationWeek Healthcare, February 24, 2012
  38. ↑ "5 Hot Topics in Healthcare Interoperability" Healthcare IT News, June 19, 2012
  39. ↑ "How BI, Cloud, Mobility and Social are Spurring Innovation" Vertical Systems Reseller, February 20, 2012
  40. ↑ "The Big Data Contagion" Dataversity, June 21, 2012
  41. ↑ "Business Integration Expert Perficient to Deliver New SOA-Based Services for NASCO" FierceHealthIT, July 31, 2012
  42. ↑ "Perficient acquires Atlanta digital consulting agency - St. Louis Business Journal". St. Louis Business Journal. Retrieved 2016-10-16.
  43. ↑ "Perficient acquires Michigan digital marketing firm" St. Louis Business Journal, Dec 4, 2015
  44. ↑ "Perficient buys Tennessee IT firm for $5.3 million" St. Louis Business Journal, Sep 18, 2015
  45. ↑ "Perficient to acquire Zeon Solutions for $35.7 million" St. Louis Business Journal, Dec 18, 2014
  46. ↑ Perficient Acquires Northridge Systems, Adds To SharePoint Expertise CRN Magazine July 2, 2012
  47. ↑ "Perficient Acquires PointBridge Solutions" MarketWatch, February 9, 2012
  48. ↑ "Perficient buys JCB in $18 million deal" St. Louis Business Journal, July 1, 2011
  49. ↑ Perficient buys speakTECH for $15M St. Louis Business Journal December 15, 2010
  50. ↑ Perficient buys Kerdock Consulting St. Louis Business Journal March 29, 2010
  51. ↑ Perficient Acquires ePairs, Inc. BNET November 23, 2007
  52. ↑ Perficient Acquires BoldTech for $20.8M Marketwatch September 21, 2007
  53. ↑ Tier1 Innovation Sells for $14.3M Denver Business Journal June 26, 2007
  54. ↑ Perficient Expands Portfolio with EGG Acquisition TMCNet July 21, 2006
  55. ↑ Perficient buys Michigan firm for $13 million Austin Business Journal May 31, 2006
  56. ↑ Perficient to Buy Bay Street Solutions Austin Business Journal April 7, 2006
  57. ↑ Perficient Buys Dallas IT Consulting Firm Austin Business Journal September 6, 2005
  58. ↑ Austin IT consulting firm buys iPath for $7.9M HOUSTONBizJournal June 13, 2005
  59. ↑ Perficient completes ZettaWorks purchase Austin Business Journal March 7, 2005
  60. ↑ Perficient acquires Columbus company Austin Business Journal June 21, 2004
  61. ↑ Perficient buys Illinois company for $7.9M Austin Business Journal April 5, 2004
  62. ↑ Vertecon purchased by Austin IT firm Saint Louis Business Journal October 3, 2001
  63. ↑ Perficient to acquire consulting firm October 29, 2001
  64. ↑ Perficient Plans to Acquire Compete for up to $63 Million February 17, 2000
  65. ↑ Consumer Goods Technology Magazine Readers' Choice Survey of Top Consulting Firms 2009
  66. ↑ Forbes 200 Best Small Companies List 2009
  67. ↑ "Perficient snags Microsoft partner awards for cloud services". ZDnet.com. Retrieved 2013-07-19.
  68. ↑ "TechNet Blogs". Blogs.technet.com. Retrieved 2013-12-28.
  69. ↑ "Enhanced Online News". EnhancedOnlineNews.com. Retrieved 2014-05-01.
  70. ↑ "Enhanced Online News". EnhancedOnlineNews.com. Retrieved 2015-11-11.
  71. ↑ "St. Louis Post-Dispatch". STLtoday.com. Retrieved 2015-11-11.
  72. ↑ "2014 HCI 100". Healthcare Informatics. Retrieved 2014-09-17.
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