About The Hackett Group
The Hackett Group, Inc. (The Hackett Group) is an intellectual property-based executive advisory, IP as-a-Service Revenue (IPaaS), market intelligence, digital transformation consultancy and leading enterprise benchmarking and best practices implementation firm serving global companies. Services include benchmarking, executive advisory, IPaaS, market intelligence, business transformation and cloud enterprise application implementation. The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement, and information technology, including its highly recognized Oracle, SAP, OneStream and Coupa implementation offerings. The Hackett Group has completed over 25,000 benchmarking and performance studies with major organizations, including 97% of the Dow Jones Industrials, 93% of the Fortune 100, 73% of the DAX 30 and 52% of the FTSE 100. These studies drive the company’s Digital Transformation Platform (DTP or Hackett DTP), which includes the firm's benchmarking metrics, best practices repository, and best practice configuration and process flow accelerators, which enables its clients and partners to achieve digital world-class performance. The company has repositioned all of its offerings to the emerging digital transformation opportunities which started by digitizing all of its benchmarking and best practices intellectual property (IP). The company wanted to deliver its proprietary insights in new ways and to do so efficiently and whenever possible, virtually. The company has: Launched Quantum Leap (QL) – The company’s next generation benchmarking and continuous improvement software as a service solution. This market leading benchmark solution allows the company to improve the client experience by delivering twice the insight and reducing the client effort by half, thus redefining its benchmarking leadership. It covers over 100 enterprise process areas, across 20 industry groups on an end-to-end, functional or individual process basis. Launched the Hackett DTP – The company has digitized its IP and changed the way it shares and delivers its IP with its clients across its benchmarking, executive advisory, IPaaS, market intelligence, business transformation and cloud enterprise application solutions. The Hackett DTP accelerates the speed to value realization by helping organizations achieve their performance targets through a combination of benchmark metrics, best practices and software configuration and process flow accelerators delivered in a fully automated platform. Launched in early 2023 the company’s new Hackett Connect platform that will support all of its Executive and Market Intelligence offerings including its syndicated research channel relationships. Expanded IPaaS – leveraging the company’s QL and DTP platforms it is attracting new alliance partners that can leverage its unique enterprise performance benchmarking and best practices solutioning IP to help them differentiate and sell their software or services solutions. Expanded executive research advisory and market intelligence programs and dedicated sales expertise to grow high margin annualized recurring revenues. These relationships are also responsible for over 40% of the downstream Hackett’s business transformation and technology consulting revenues. Expanded Cloud Capabilities - The company expanded its Oracle Cloud applications addressable market from Enterprise Performance Management (EPM) to include Enterprise Resource Planning (ERP) and the entire Oracle Cloud applications suite through the acquisition of Jibe Consulting in 2017. This move quadrupled the company’s Oracle Cloud addressable market and positioned it as a strategic Oracle Cloud applications consultancy. The company has also expanded its alliance partners to include Coupa and Ariba in Procurement, as well as OneStream in EPM and Corporate Performance Management (CPM). In regard to SAP, the company was an early provider of S4 HANA which allowed it to quickly transition its implementation skills and benefit from the SAP migration to the Cloud. Expanded Smart Automation Capabilities – The company expanded its ability to help clients assess and implement the rapidly emerging Workflow Automation, Process Mining and related smart automation technologies. Launched the Hackett Institute and acquired the joint venture interest of the company’s Certified Global Business Services (CGBS) Program – and moved its training content to a state-of-the-art learning management platform. IP Enabled Quantum Leap, Digital Transformation and Hackett Connect Platforms The company’s Quantum Leap, DTP, and Hackett Connect platforms resulted in a new way to share and leverage its IP across its offerings. This required the company to digitize its intellectual capital and the way it shares it with its clients across its benchmarking, executive research advisory, business transformation and Cloud Enterprise application implementation solutions. The company’s ability to fully digitize its IP and align proven technology and organizational solutions to help clients drive transformational change allows it to highly differentiate its offerings. It also allows the company to engage and support clients more efficiently, remotely, and where appropriate, continuously. Hackett uses its proprietary benchmarking enterprise performance metrics and best practices repository intellectual capital to help clients accelerate the value realization from technology investments. The company’s benchmark offerings allow its clients to empirically quantify their performance improvement opportunity at an actionable level. It also provides the company visibility into how leading global companies deploy technology or organizational strategies to optimize their performance. This insight results in a proprietary Best Practices Repository, as well as, best practice software configurations, process flows and organizational strategies. Utilizing the benchmarking metrics and repository of best practices, combined with the global strategy and implementation insight of the company’s transformation and technology associates, Hackett has also created a series of organizational and technology accelerators that allow its clients to effect proven sustainable performance improvements. The company’s Hackett DTP leverages its inventory of Hackett-Certified best practices, observed through benchmark and other business transformation engagements, which correlate best practices with superior performance levels. The company utilizes Capability Maturity Models to better understand its clients’ capabilities and organizational maturity so that it can determine the level of performance that they can realistically pursue. In addition, the company utilizes Hackett’s intellectual capital in the form of best practice process flows and software configuration guides to integrate Hackett’s empirically proven best practices directly into business processes and workflows that are enabled by enterprise software applications. The repository of best practice processes and software configuration guides reside in the new releases of the company’s DTP. This allows the company to utilize its IP on client engagements to ensure that best practices are identified and implemented, whenever possible. This coordinated approach addresses people, processes, information, and technology, all within the framework of the company’s Hackett-Certified best practices. Leveraging the company’s Quantum Leap and Hackett Digital Transformation Platforms, and soon to launch Hackett Connect, its engagements often begin with an assessment of a client’s performance, which is normally gained through benchmarking key processes and comparing the results to world-class levels and industry standards captured in the Hackett performance metrics database. The company then helps clients prioritize and select the appropriate best practices to implement through a coordinated workflow automation and organizational design improvement strategy. The company has designed detailed best practice process flows based on Hackett’s deep knowledge of world-class business performance. This enables clients to streamline and automate key processes and generate performance improvements quickly and efficiently at both the functional and enterprise levels. Similarly, the company integrates Hackett-Certified best practices directly into technology solutions. The company has completed detailed fit-gap analyses in most functional areas of major business application packages, including Oracle, SAP and other leading enterprise applications to determine their ability to support best practices. Application-specific tools, implementation guides and process flows allow the company to optimize the configuration of enterprise software applications. Hackett DTP enables the foundation for improved performance. Strategy The key elements of the company’s strategy are to expand its IP, brand market permission to its offerings; continue to position and grow Hackett as an IP-centric strategic advisory organization; introduce new IP-as-a-service offerings; continue to expand its QL/DTP Content and Technology; recruit and develop talent; leverage its offshore capabilities; and seek out strategic acquisitions. Offerings The company offers a comprehensive range of services, including IPaaS, executive advisory and market intelligence programs, benchmarking, business transformation and technology consulting services. With strategic and functional knowledge in finance, human resources, information technology, procurement, supply chain management, corporate services, customer service, and sales and marketing, the company’s expertise extends across the enterprise. The company has completed successful engagements in a variety of industries, including automotive, consumer goods, financial services, technology, life sciences, manufacturing, media and entertainment, retail, telecommunications, transportation and utilities. The Hackett Group Global Strategy & Business Transformation segment (Global S&BT segment) Executive Advisory, IPaaS and Market Intelligence Programs The company’s Executive Advisory, IPaaS and Market Intelligence programs provide on-demand access to world-class performance metrics, peer-learning opportunities and best practice implementation advice. The scope of Hackett’s Advisory programs is defined by business function (Executive Advisory), end-to-end process coverage (Process Advisory) and Software and Services Intelligence (Market Intelligence). The company’s programs include a mix of the following deliverables: Hackett Connect: Online, searchable repository of best practices, performance metrics, conference presentations and associated research available to Executive Advisory, IPaaS and Market Intelligence Program Executives and their respective teams. Best Practice Accelerators: Dedicated web-based access to best practices, customized software configuration tools, best practice process flows used to support the sale, configuration and organizational implementation and post implementation support efforts of partner software. Advisor Inquiry: Hackett’s inquiry services are used by clients for quick access to fact-based advice on proven approaches and methods to increase the efficiency and effectiveness of selling, general and administrative, finance, human resources, information technology, procurement, enterprise performance management and shared services processes. Best Practice Research: Empirically based research and insight derived from the company’s Hackett benchmark, performance and transformation studies. The company’s research provides detailed insights into the most significant proven approaches in use at world-class organizations that yield superior business results. Peer Interaction: Regular member-led webcasts, annual Best Practice Conferences, annual Member Forums, membership performance surveys and client-submitted content provide ongoing peer learning and networking opportunities. Introduction of New Vendor IP- centric Offerings: The company is continuing to seek new opportunities through strategic alliances and channels to use its IP to help others sell and deliver their products, such as its IP-as-a-Service offerings and Hackett Institute programs. The company continues to look for other potential programs through which to introduce new IP-centric offerings and expand the power and reach of its brand. Benchmarking Services The company’s benchmarking group has measured and evaluated the efficiency and effectiveness of enterprise functions for over 8,800 organizations globally. This includes 97% of the Dow Jones Industrials, 93% of the Fortune 100, 73% of the DAX 30 and 52% of the FTSE 100. Ongoing studies are conducted in a wide range of areas, including selling, general and administrative, finance, human resources, information technology, procurement, enterprise performance management and shared services. Hackett has identified approximately 2,000 best practices for over 140 processes in these key functional areas and uses proprietary performance measurement tools and data collection processes that enable companies to complete the performance measurement cycle and identify and quantify improvement opportunities in as little as four weeks. Benchmarks are used by its clients to objectively establish priorities, generate organizational consensus, align compensation to establish performance goals and develop the required business case for business and technology investments. Business Transformation Group The company’s Business Transformation group help its clients develop a coordinated digital transformation strategy that allows its clients to achieve meaningful performance improvements across the enterprise. The company’s experienced teams utilize the Hackett performance measurement data to link performance gains to industry best practices. The company’s strategic capabilities include operational assessments, process and organization design, change management and the effective application of technology. The company combines best practices knowledge with business expertise and broad technology capabilities, which enables its programs to optimize return on client investments in people, process, technology and information. The company also maintains its award winning procurement (Coupa and Ariba) functionally led groups and its OneStream CPM teams within this group. Oracle Solutions segment The company’s Oracle Solutions segment helps clients choose and deploy Oracle applications that best meet their needs and objectives. In 2017, the company acquired Oracle ERP and Cloud implementation capabilities. This allowed the company to greatly increase the size of its Oracle addressable market and strongly positioned it to be a strategic provider of Oracle’s rapidly growing cloud software and services market. The software market is rapidly moving to cloud-based software, which led the company to aggressively transition its Oracle Solutions segment from being primarily focused on the implementation of Oracle EPM on-premise software to the entire Oracle Cloud Enterprise Suite. SAP Solutions segment The company’s SAP Solutions segment helps clients choose and deploy S4 HANA Cloud applications that best meet their needs and objectives. The company’s expertise focuses on SAP ERP, with primary focus on Life Sciences and Consumer Goods. The group offers comprehensive services from planning, architecture, and vendor evaluation and selection through implementation, customization, testing and integration. Comprehensive fit-gap analyses of all major packages against Hackett Best Practices are utilized by the company’s SAP Solutions teams. The company’s tools and templates help integrate best practices into business and analytical applications. The group also offers post-implementation support, change management, exception management, process transparency, system documentation and end-user training, all of which are designed to enhance return on investment. The company also provides off-shore application development and Application Maintenance and Support (AMS) services. These services include post-implementation support for select business application and infrastructure platforms. The company’s SAP Solutions group also includes a division responsible for the sale of the SAP suite of applications. Clients The company focuses on developing long-term client relationships with Global 2000 firms and other sophisticated buyers of business and IT consulting services. During 2022, the company’s ten most significant clients accounted for 24% of total revenue. Business Development and Marketing The company’s extensive client base and relationships with Global 2000 firms remain its most significant sources of new business. The company’s revenue generation strategy is formulated to ensure that it is addressing multiple facets of business development. The company’s primary goal is to continue to increase awareness of its brand which it has created around its Hackett empirical knowledge capital in the extended enterprise that it serves. The company has a regional sales and market development effort in both North America and Europe. The company’s compensation programs for its associates reflect an emphasis on optimizing its total revenue relationship with its clients. In its technology groups, the company has continued to utilize its Hackett intellectual capital as a way to differentiate the relationships it has with the software providers and with its clients. Intellectual Property The company has obtained trademark registrations for The Hackett Group, Hackett Best Practices, World Class Defined and Enabled, Quantum Leap, Digital Excelleration, Intellectual Property As A Service and Book of Numbers, and own registrations for certain of its other trademarks in the United States and abroad. History The company was founded in 1991. It was incorporated in 1997. The company was formerly known as Answerthink, Inc. and changed its name to The Hackett Group, Inc. in 2008.
