Mavenlink Resource Planning Solution
Company: Mavenlink, Irvine, CA
Company Description: Mavenlink's enterprise-class SaaS transforms how the $3 trillion services industry works with distributed teams, contractors and clients around the globe. Trusted by Salesforce, Buzzfeed, and Zendesk, Mavenlink has raised $84 million, including $39 million from Goldman Sachs. Recent awards include Red Herring Top 100 Global Company, Gartner Cool Vendor, & Glassdoor Best Places to Work in the US.
Nomination Category: New Product & Service Categories - Software
Nomination Sub Category: New Product or Service of the Year - Software - Project Management Solution
Nomination Title: Mavenlink Resource Planning Solution
Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and performance to date:
Mavenlink provides enterprise-class Software as a Service (SaaS) that is transforming how services businesses work with distributed teams, contractors, and clients around the globe. It is the only solution designed specifically for organizations that deliver services, notably consulting firms, creative agencies, IT services organizations, and professional service teams. This is a large —and rapidly growing — $3 trillion global commerce market. More than 70% of the US GDP comes from the services sector, and 9 out of 10 new jobs in the US are in services.
Despite the market growth and the heavy corporate investments, there has been very little published or shared on the formal management of services. Yet, research recently revealed extensive angst amongst services leaders due to rapidly changing dynamics and escalating buyer expectations. Buyers, or clients, are demanding greater speed, quality, and agility from their service providers. At the same time, providers are facing more external pressure from increased competition, compressed delivery timelines, and tighter margins. Mavenlink’s award-winning technology solution uniquely unifies all the following essential business functions of a services organization to meet the increasing demands and expectations of their clients:
- Project planning and delivery
- Project accounting and financials
- Resource management
- Business Intelligence
Mavenlink recently announced major enhancements to its Resource Management capabilities, making it the only end-to-end resource management solution available for the services industry. Most resource management apps are disconnected from important execution phases of resourcing and must be cobbled with additional apps and spreadsheets to turn resource estimates into action, and then make adjustments as the realities of business come into play.
Mavenlink's Resource Management capabilities help services firms manage resource needs from rough cut planning all the way through project execution and completion. Mavenlink is built to address the entire resource management cycle in one collaborative, easy to use application —enabling unmatched resource visibility, and the ability to swiftly manage change. Being able to see trends and accurately forecast resource needs is crucial for making strategic hiring, selling, and other important business decisions. Mavenlink provides the insights needed into resources, including past and forecasted utilization, skills, profitability, and performance.
Mavenlink is one of the fastest growing SaaS companies in the US. Following consecutive years of triple digit growth, in late 2016 Mavenlink announced that it raised $39 million from Goldman Sachs, totaling $84 million raised to date. Mavenlink also recently announced a major expansion plan that includes the addition of two new locations in the US and one in the UK, and growth of its corporate headquarters in Irvine, CA and product and engineering headquarters in San Francisco. Furthermore, it has been named a Gartner Cool Vendor, Red Herring Top 100 Global Company, and Glassdoor Best Places to Work in the US, among many other accolades and awards in the past 18 months. The company’s customer base includes Genpact, Salesforce.com, Cornerstone OnDemand, Zendesk, and Buzzfeed, as well as thousands of other consulting firms in more than 100 countries.
In bullet-list form, briefly summarize up to ten (10) of the chief features and benefits of the nominated product or service (up to 150 words).
Mavenlink empowers customers to grow and thrive, gaining immediate returns to their business. For example, Black Tie Digital reported a 40% increase in profits within the first three months of using Mavenlink.
Other benefits include:
-Increased margins - customers can answer tough questions impacting financial performance by revealing profitable and unprofitable practices across the business. Core Structure, a full service structural design company with over 75 years of experience in engineering design and construction, was able to improve margins by 50%.
-Improved resource utilization - With newfound visibility into resourcing needs, businesses can plan for current and future demand confidently. Kainjoo, a global consulting firm, was able to increase billable utilization by 85%.
-Better forecasting - Executives can quickly view trends affecting business performance to make critical decisions about what to change to positively impact future project outcomes. Spear Marketing Group improved number of projects delivered on time