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The great maturity testHow competitive is your company?

We know that companies with a high level of maturity outperform their competitors. According to American SPI Research’ yearly Professional Services Maturity Benchmark analysing the consultancyindustry’s performance, there is a significant difference for companies’ competitiveness whether you are at level 1,2, 3, 4 or 5 in SPI’s maturity model. If you elevate your company from level 1 to level 2, you will typically experience: 23% higher billable utilisation 14% higher project contribution ratio 152% higher bottom line (EBITDA) You can download the SPI Research 2020 Benchmark and find KPIs for companies up to level 5. What is maturity and how do you measure it? Maturity corresponds to what degree you have professionalised your company and thereby increased itscompetitiveness. In SPI Research’ maturity model, you measure your company’s ability to build best-practice processes within 5key areas. Leadership (CEO) Customer relations (marketing & sales) Human capital (HR) Service execution (Project managers) Finance & operations (CFO) The total assessment across the five areas make up your company’s maturity level. The more you can increaseyour company’s maturity, the better key figures you will be able to display, SPI Research’ benchmark shows.

The maturity model classifies companies into 5 maturity leveles - from Initiated to Optimized

The test is your point of departure for your company's evolution journey If you dive deeper into the benchmark's figures, they will probably make your ambitions tingle and you will want toevolve your company up to maturity level 5. Who doesn’t want a high performance company? But before you start the journey, you need to know your current maturity level. You can’t plan a journey nor read amap, if you don’t know your point of departure. The maturity test helps you build a maturity estimate and pinpoint where your journey starts and where you are heading.

The great maturity testHow competitive is your company?

Take the te

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now!

30% of companies 25% of companies 25% of companies 15% of companies 5% of companies

https://info.timelog.com/en-gb/download_2020_spi_benchmark

Leadership (CEO)

How many characteristics from level 1 match your company?

Leadership (CEO)

Human capital(HR)

Service execution(Project managers)

Finance & operations(CFO)

Customer relations(Marketing & Sales)

How the test works 1) Print the test, so you can write on it. 2) In the test, you find 5 checklists with characteristics for each maturity level. Check the ones that apply to your company. 3) Count your checkmarks. Did you check anything at level 5? Please note: All characteristics are from SPI Research’ maturity model and build on data from thousands of companies. The test should beconsidered indicative.

Start the test!


Human capital(HR)




Opportunistic sales andno go-to-market plan No guidelines forestimates, offers andcontract management Individuel top salespeople pull rabbits outof their hats to reachthe sales budget Projects are sold ad hocand individually

Primarilyad hoc execution Heroes drive chaoticprojects to completion No consistent projectdelivery methods Planning in Excel sheets No quality control No structured learningsgathering

Immediate needsdictates when you hire Many generalists,chameleons and heroesin the company Employees do pre-sales, consultancy andmanage projects

Time & expensetracking in Excel sheetsand on paper slips Very limited financialinsights and controlwithin the company Unpredictable projectfinances Very basic contract andrisk management

Leadership focuses100% on sales Makes work-arounds forunfinished products tobe able to sell them Leaders are ”doers” andare heavily involved inexecution/delivery

Marketing isestablished and focuseson lead generation Uses several salesmodels Invests in CRM Measures salesefficiency & customersatisfaction Early partnershipprograms Process to calculatebasic offers established

Basic framework fordelivery methods inplace Centralised resourcemanagement Projects split up intoproject management &specialist functions Started to measureproject satisfaction Started to collectlearnings from projects

Started forecastingworkload Started to develop joband competencydescriptions in thecompany Early outlines of careerplanning Started to measureemployee satisfaction

Developed collection ofbasic contracts anddelivery plans Invested in accountingprogram + PSA solutionfor financial overview Not yet access to realtime BusinessIntelligence

Strategy focuses onboth delivery and goodimplementation ofsolutions Leadership has strategyto focus on thecustomers thatgenerate profit Leaders can focus onprofit and loss Builds up long-lastingcustomer relationships


Leadership (CEO)

Human capital(HR)





Leadership (CEO)

Human capital(HR)





Leadership (CEO)

Human capital(HR)




Marketing machine hasbeen established Use inside sales andsales of defined solutionsets CRM is integrated withPSA solution Management andcontrol of deals, pricingand contracts have beenestablished

PSA solution used forresource & projectmanagement Uses digital forcollaboration Ongoingly analysesrevenue recognition Centralised dashboardfor all projects Standard quality reviews& measurements Central project unit

Established resourcemanagement, skills andcareer planning Measurements ofemployee satisfactionand engagement Fixed competencydevelopment plans foremployees Targets andmeasurements areadjusted for bonusmodels

Standard methods forresource, time &expense planning& management Standard methods forcost and invoicingcontrolling Insights into costs onall levels (employees,suppliers andprojects)

At leadership level,development plans forthe company are inplace Leaders have a strongbackground and skillswithin all fivematurity pillars Products are thoroughlyconceptualised

Integrated CRM, PSA &ERP provide 360°insights into allcustomer relations Programs for keycustomers and partners Centralcontract and pricingmanagement Delivers solutionshorizontally + verticallyin the customer’sorganisation

Integrated project andresource management Portfolio management Global/central ProjectManagement Office,project dashboard& knowledge sharing Global/centralresource management

Has established careerladders & mentoringprograms Company invests inpersonal career training Low degree of braindrain + high employeesatisfaction

Systems areimplemented forcontract management,legal decisions andpricing Excellent processes andcontrol mechanisms forfinance & operations Integrated CRM, PSA,accounting system &BusinessIntelligence Real time insights across all functions

Defined plans forleadership succession +defined leadershipprinciples for all criticalmanagement roles

Marketing focuses ondeveloping thoughtleadership to build thebrand Networking is at thetarget group’s executivelevel Programs for integratedsales, marketing andpartnerships Consistently highcustomer satisfaction

Constant & frictionlesschecks & balances formaximum invoicingpercentage & realisedhourly rate Full insights into globalproject quality Resource managementacross countries, teams& disciplines Full integration of alldigital tools

Continuous training andhiring aimed at fulfillingfuture needs Highly specialised andmotivated staff Outsourcingof commoditycompetences Flexible scaling of thework force

Focus on constantimprovement of internalprocesses All systems integratedwith control andprocesses for CRM,PSA, resourcemanagement, contract& pricing systems Global and disciplined control andoptimisation of processes

Secondary targets andmeasurement methodsin place for all functionswithin the company The leadership hasimplemented a globalvision Continuing focus onrenewal and expansionof the company

What was your company score? Now you have gained a bit of insights into what characterises the most competitive companies and how yourcompany compares to them. At which level did your company have the most matching characteristics? Level 1 ____ Level 2 ____ Level 3 ____ Level 4 ____ Level 5 ____ If you didn’t only mark at level 5, don’t worry! In fact, 56% of all companies are at level 1 or 2. From our research and interviews with Danish companies, we estimate Denmark to be around level 1.85 onaverage. TimeLog is built to support higher maturity If you want to increase your competitiveness through higher maturity, you need the right tools to support you onyour journey. TimeLog provides an integrated solution that supports and connects your company's internal processes evenbetter. With intelligent time tracking, project management, invoicing, resource management and reporting, youhave your internal processes covered, digitally. Having the right digital tools does not mature your company on its own - but it is imperative for you to succeed onyour journey. You can try TimeLog for free in 30 days and see how you can create an even better business.

https://www.timelog.com/en/time-tracking-and-invoicing-demo/?utm_source=resource&utm_medium=link&utm_campaign=maturity_test

https://www.timelog.com/en/time-tracking-and-invoicing-demo/

https://www.timelog.com/en/time-tracking-and-invoicing-demo/?utm_source=resource&utm_medium=link&utm_campaign=maturity_test

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