Perficient

Perficient
Public
Traded as NASDAQ: PRFT
S&P 600 Component
Industry Management consulting
Outsourcing
Founded 1997
Headquarters St. Louis, Missouri
Area served
 Worldwide
Key people
 Jeffrey S. Davis (CEO)
Revenue US$486.9 million (2016)[1]
US$32.14 million (2016)[1]
US$20.45 million (2016)[1]
Number of employees
 ~2,800 (2016)
Website

www.perficient.com

www.perficientdigital.com

Perficient, Inc. is a consulting firm serving enterprise customers throughout North America.[2] The company's efforts include enterprise mobile applications, creative services, marketing, digital strategy[3] Internet of Things,[4] information technology, management consulting, custom development, and platform implementations.

The firm primarily performs project-based work, a large portion of which involves business intelligence and portal collaboration. Perficient also has offshore capabilities.[5][6]

Perficient has offices in North America, Europe, India, and China.[7]

History

Formation and early years

The company was founded in Austin, Texas in August 1997 by Bryan Menell. 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.

The company's held its initial public offering 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.

Jeffrey Davis was named CEO in September 2009.[8] During Davis' tenure as CEO, the firm added over 1,000 employees and saw its annual revenue pass $200 million. 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

Between 1999 and 2009, Perficient grew from 9 employees to over 1,000 employees.

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.[10]

In 2011, Perficient acquired business and management consulting firm Exervio for $13.6 million.[11] Perficient's 2011 fourth quarter profit more than doubled the prior year's performance.[12]

In 2012, Perficient acquired PointBridge Solutions, LLC for $22 million.[13] 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.[14] in July, 2012, Perficient acquired another collaboration solutions company, Northridge Systems.[15]

In 2013, Perficent acquired TriTek Solutions Inc., an IBM-focused enterprise content management and business process management consulting firm for $18.5 million.[16] Perficient then acquired two salesforce.com firms, CoreMatrix Systems LLC[17] and Clear Task, Inc.[18]

In 2014, the company made three acquisitions: ForwardThink Group,[17] BioPharm Systems,[19] and the IBM Smarter Commerce Division of Trifecta Technologies.[20] Perficient also announced that year its plans to open a domestic delivery center in Lafayette, Louisiana.[21]

In 2015, Perficient acquired Market Street Solutions, Inc.,[22] an IT consulting firm. In December 2015, Perficient acquired Enlighten, a digital marketing agency.[23]

In 2016, Perficient announced it has entered into a multi-year partnership with the St. Louis Cardinals.[24] It also announced the launch of Perficient Digital,[25] 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]

In 2017, Perficient acquired RAS & Associates, LLC,[27] a Denver-based management consultancy in strategy, operations and business process optimization consulting. In June 2017, Perficient acquired Clarity Consulting,[28] a Chicago-based consultancy in custom development, cloud implementations, and digital experience design on Microsoft platforms and devices.

In 2018, Perficient acquired Southport Services Group, LLC,[29] a Washington D.C.-based MicroStrategy consultancy in analytics, business intelligence and data warehousing solutions. In July 2018, Perficient acquired Stone Temple Consulting,[30] a Boston-based digital marketing agency founded by Eric Enge.

Partners

Microsoft

Perficient is a Microsoft Gold Certified partner.[31] 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.[32]

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.[33]

IBM

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

Salesforce

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.[36] Perficient won the 2016 Salesforce Partner Innovation Award in Healthcare and Life Sciences in November, 2016.[37]

Adobe

Perficient is an Adobe implementation partner.[6]

Industry experience

Financial services

Perficient acquired ForwardThink Group in 2014 to help specialize in business process improvement, payments, finance transformation and risk management.[35][38]

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.[38]

Healthcare

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.[39] They work in consumer-driven healthcare information technology.[31][40]

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."[41] Later that year, they launched PremierConnect, a collaboration platform for members of Premier healthcare alliance, an association that maintains clinical, financial, and outcomes database, and information on patient discharges. PremierConnect brings data together from 2,700 US hospitals to manage population health and care management.[42]

Also in 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.[43] They also 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."[44]

Perficient partnered 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.[45]

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.[46]

Key acquisitions

Company Date Acquired Capabilities Purchase Price Former Headquarters
Stone Temple Consulting Corporation July 16, 2018 Digital agency (undisclosed) Framingham, MA[47]
Southport Services Group Apr 3, 2018 Data Analytics, Business Intelligence (undisclosed) Washington, DC[48]
Clarity Consulting June 23, 2017 Microsoft, Unified Communications (undisclosed) Chicago, IL[4]
RAS & Associates January 4, 2017 Management Consulting (undisclosed) Denver, CO[49]
Bluetube October, 2016 Digital agency (undisclosed) Atlanta, GA[50]
Enlighten December, 2015 Digital agency (undisclosed) Ann Arbor, Michigan[51]
Market Street Solutions, Inc. Sep, 2015 IT Consulting $5.3 million Chattanooga, Tennessee[52]
Zeon Solutions Inc. and Grand River Interactive LLC Jan, 2015 E-Commerce Solutions $35.7 million Milwaukee, Wisconsin[53]
IBM Smarter Commerce Division of Trifecta Technologies May, 2014 IBM WebSphere Commerce $13.7 million Allentown, Pennsylvania[54]
BioPharm Systems April, 2014 Life Sciences Technology Consulting $17.6 million San Francisco, California[46]
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[55]
TriTek Solutions May, 2013 IT Consulting $18.5 million Annandale, Virginia[16]
Northridge July, 2012 IT Services $14.4 million Atlanta[56]
Nascent Systems LP June, 2012 IT Services $18.1 million Dallas, Texas[57]
PointBridge Solutions February, 2012 Web Content Management $22 million Chicago[58]
JCB Partners LLC July, 2011 Enterprise Performance Management $18 million Denver, Colorado[59]
Exervio, Inc. April, 2011 Management Consulting $13.6 million Charlotte, NC[11]
speakTECH December, 2010 Web Design $15 million Costa Mesa, California[60]
Kerdock Consulting March, 2010 Enterprise Performance Management $6 million Houston, Texas[61]
ePairs November, 2007 CRM $6 million Cupertino, California[62]
BoldTech Systems, Inc. September, 2007 Offshoring $20.8 million Denver, Colorado[63]
Tier1 Innovation, LLC June, 2007 CRM $14.3 million Denver, Colorado[64]
E-Tech Solutions February, 2007 IT Consulting $12.2 million Philadelphia, Pennsylvania[65]
Energy, Government and General Business (EGG) division of Digital Consulting & Software Services, Inc. July, 2006 IT Consulting $12.9 Million Houston, Texas[66]
Insolexen May, 2006 Enterprise Application Integration $13.4 million Novi, Michigan[67]
Bay Street Solutions April, 2006 CRM $9.3 million San Francisco, California[68]
Vivare September, 2005 Service Oriented Architecture $9.4 million Dallas, Texas[69]
iPath Solutions June, 2005 Enterprise Content Management $7.9 million Houston, Texas[70]
ZettaWorks LLC March, 2005 IT Consulting $10.7 million Houston, Texas[71]
Meritage Technologies June, 2004 Enterprise Portals and Collaboration $9.5 million Columbus, Ohio[72]
Genisys Consulting Inc. April, 2004 IT Consulting $7.9 million Chicago[73]
Vertecon Inc. October, 2001 IT Consulting (undisclosed) St. Louis, Missouri[74]
Javelin Solutions October, 2001 IT Consulting (undisclosed) Minneapolis[75]
Compete, Inc. May, 2000 IT Consulting $63 million Lisle, Illinois[76]
LoreData December, 1999 IT Consulting (undisclosed) New London, Connecticut

References

  1. 1 2 3 "Financial Tables". Perficient Investor Relations. Retrieved 2017-10-09.
  2. ↑ "About Us | Perficient, Inc". www.perficient.com. Retrieved 2018-07-16.
  3. ↑ Whiting, Rick (14 October 2016). "5 Companies That Came To Win This Week". CRN. Retrieved 5 January 2017.
  4. 1 2 Jones, Donovan (2017-06-23). "Perficient Acquires Clarity Consulting For Microsoft Expertise". Seeking Alpha. Retrieved 2017-10-08.
  5. 1 2 Perficient, Inc. President And CEO Jeff Davis Interviews With The Wall Street Transcript The Wall Street Transcript Mar 7, 2011
  6. 1 2 "Magento Partners with Adobe to Redefine Commerce Experience". Retrieved 6 January 2017.
  7. ↑ Perficient thinks vertical with latest acquisition ZDNet February 20, 2014
  8. ↑ "Davis named CEO of Perficient" St. Louis Business Journal August 5, 2009
  9. ↑ "IT firm makes St. Louis home" St. Louis Post Dispatch Jan 6, 2010
  10. ↑ "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 Q4 profit more than doubles" Saint Louis Business Journal, March 1, 2012
  13. ↑ "Perficient Acquires PointBridge Solutions" MarketWatch Feb 9, 2012
  14. ↑ "Perficient acquires Nascent Systems for $18 million". www.bizjournals.com. Retrieved 6 January 2017.
  15. ↑ "Perficient Acquires Northridge Systems" Reuters, July 2, 2012
  16. 1 2 "Perficient acquires TriTek Solutions for $18.5 million" St. Louis Business Journal, May 2, 2013
  17. 1 2 Clancy, Heather. "Perficient thinks vertical with latest acquisition | ZDNet". ZDNet. Retrieved 6 January 2017.
  18. ↑ "Perficient acquires Clear Task Inc. for about $7.9 million". www.bizjournals.com. Retrieved 6 January 2017.
  19. ↑ Kuranda, Sarah (1 April 2014). "Perficient Expands Vertical Variety With $17.6 Million Acquisition Of BioPharm Systems". CRN. Retrieved 6 January 2017.
  20. ↑ "10-K: PERFICIENT INC". MarketWatch. Retrieved 6 January 2017.
  21. ↑ "Perficient to open software development center in Lafayette" The Times-Picayune, Sep 4, 2014
  22. ↑ "Perficient acquires Tennessee IT consulting firm" St. Louis Post-Dispatch, Sep 18, 2015
  23. ↑ Post-Dispatch store (2015-12-04). "Perficient acquires digital marketing firm | Business". stltoday.com. Retrieved 2018-05-24.
  24. ↑ "Tech company steps in as Hardee's sign in Busch Stadium comes down" St. Louis Business Journal, Apr 5, 2016
  25. ↑ "Digital Experience, Mobile and Commerce Experts". www.perficientdigital.com. Retrieved 2018-07-24.
  26. ↑ "Perficient Unveils $40M Dedicated Digital Agency Unit" CRN, Apr 20, 2016
  27. ↑ "Perficient Acquires RAS & Associates | Perficient, Inc". www.perficient.com. Retrieved 2018-07-24.
  28. ↑ "Perficient Acquires Clarity Consulting | Perficient, Inc". www.perficient.com. Retrieved 2018-07-24.
  29. ↑ "Perficient Acquires Southport Services Group | Perficient, Inc". www.perficient.com. Retrieved 2018-07-24.
  30. ↑ "Stone Temple Consulting has been acquired by Perficient - Search Engine Land". Search Engine Land. 2018-07-16. Retrieved 2018-07-24.
  31. 1 2 "Perficient, a Prominent Microsoft Solution Provider, Buys Another in PointBridge for $22 Million" IT ChannelPlanet February 2012
  32. ↑ "Perficient snags Microsoft partner awards for cloud services" ZDNet July 19, 2013
  33. ↑ "Perficient Relocates Dallas Office, Establishes Base Center of Excellence for Oracle Technology Practice" Archived 2013-05-16 at the Wayback Machine. Enhanced Online News, January 13, 2012
  34. ↑ "IBM Partners Prep for Social Business at Lotusphere 2012" eWeek, January 15, 2012
  35. 1 2 3 "Perficient Named a Salesforce Platinum Consulting Partner". www.businesswire.com. Retrieved 2017-05-12.
  36. 1 2 Perficient extends acquisition streak, expands Salesforce.com integration skills ZDNet October 15, 2013
  37. ↑ Hawkins, Jeff (8 November 2016). "Stocks Rise as Perficient Earns Award (PRFT)". Investopedia. Archived from the original on 6 January 2017. Retrieved 5 January 2017.
  38. 1 2 "Retail Banking Predictions & Trends For 2013" The Financial Brand, Jan 9, 2013
  39. ↑ "Healthcare Informatics Magazine 100". www.healthcare-informatics.com.
  40. ↑ RNR Market Research. "Latest report on healthcare business intelligence market to hit 14.8% CAGR to 2018, driven by end user scrutinized in new research - WhaTech". www.whatech.com. WhaTech. Retrieved 5 January 2017.
  41. ↑ "Getting Buy-In From the Board" CIO Insight, January 17, 2012
  42. ↑ "PremierConnect Links Doctors, Brings Data Out Of Silos" InformationWeek Healthcare, October 30, 2012
  43. ↑ "Healthcare IT Goes Star Trek" InformationWeek Healthcare, February 24, 2012
  44. ↑ "The Big Data Contagion" Dataversity, June 21, 2012
  45. ↑ "Business Integration Expert Perficient to Deliver New SOA-Based Services for NASCO" FierceHealthIT, July 31, 2012
  46. 1 2 "Biopharm Systems Acquired By Perficient" Clinical Leader, April 10, 2014
  47. ↑ "Perficient Acquires Stone Temple Consulting | Perficient, Inc". www.perficient.com. Retrieved 2018-07-24.
  48. ↑ Feldt, Brian. "IT consultant Perficient buys East Coast data analytics firm". stltoday.com. Retrieved 2018-06-06.
  49. ↑ Novinson, Michael (2017-01-04). "Perficient Buys $9M Management Consultancy to Drive End User Technology Investments". CRN. Retrieved 2017-01-05.
  50. ↑ "Perficient acquires Atlanta digital consulting agency - St. Louis Business Journal". St. Louis Business Journal. Retrieved 2016-10-16.
  51. ↑ "Perficient acquires Michigan digital marketing firm" St. Louis Business Journal, Dec 4, 2015
  52. ↑ "Perficient buys Tennessee IT firm for $5.3 million" St. Louis Business Journal, Sep 18, 2015
  53. ↑ "Perficient to acquire Zeon Solutions for $35.7 million" St. Louis Business Journal, Dec 18, 2014
  54. ↑ "Perficient Acquires IBM Smarter Commerce Division of Trifecta Technologies" MarketWatch, May 8, 2014
  55. ↑ Perficient, Inc (PRFT): The Next Big Cloud Computing Stock? SKYY SmallCap Network October 17, 2013
  56. ↑ Perficient Acquires Northridge Systems, Adds To SharePoint Expertise CRN Magazine July 2, 2012
  57. ↑ Perficient Expands Its Oracle EBS Expertise With Nascent Buyout BNET June 5, 2012
  58. ↑ "Perficient Acquires PointBridge Solutions" MarketWatch, February 9, 2012
  59. ↑ "Perficient buys JCB in $18 million deal" St. Louis Business Journal, July 1, 2011
  60. ↑ Perficient buys speakTECH for $15M St. Louis Business Journal December 15, 2010
  61. ↑ Perficient buys Kerdock Consulting St. Louis Business Journal March 29, 2010
  62. ↑ Perficient Acquires ePairs, Inc. BNET November 23, 2007
  63. ↑ Perficient Acquires BoldTech for $20.8M Marketwatch September 21, 2007
  64. ↑ Tier1 Innovation Sells for $14.3M Denver Business Journal June 26, 2007
  65. ↑ Perficient says acquires E-Tech Solutions for $12.2 mln Reuters February 21, 2007
  66. ↑ Perficient Expands Portfolio with EGG Acquisition TMCNet July 21, 2006
  67. ↑ Perficient buys Michigan firm for $13 million Austin Business Journal May 31, 2006
  68. ↑ Perficient to Buy Bay Street Solutions Austin Business Journal April 7, 2006
  69. ↑ Perficient Buys Dallas IT Consulting Firm Austin Business Journal September 6, 2005
  70. ↑ Austin IT consulting firm buys iPath for $7.9M HOUSTONBizJournal June 13, 2005
  71. ↑ Perficient completes ZettaWorks purchase Austin Business Journal March 7, 2005
  72. ↑ Perficient acquires Columbus company Austin Business Journal June 21, 2004
  73. ↑ Perficient buys Illinois company for $7.9M Austin Business Journal April 5, 2004
  74. ↑ Vertecon purchased by Austin IT firm Saint Louis Business Journal October 3, 2001
  75. ↑ Perficient to acquire consulting firm October 29, 2001
  76. ↑ Perficient Plans to Acquire Compete for up to $63 Million February 17, 2000
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