Spinnaker Support Announces Full Year 2020 Performance Results

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DENVER, April 8, 2021 /PRNewswire/ -- Spinnaker Support, the world's highest-rated provider of Oracle, SAP, and Salesforce support services, today announced performance highlights for its full fiscal year ending December 31, 2020. The continued strong growth of Spinnaker Support's revenue, clients, staffing, and customer satisfaction present solid confirmation of its market appeal and recognition of its award-winning combination of third-party support and managed services.

Spinnaker Support is the fastest growing provider of third-party maintenance and managed services for Oracle and SAP applications
Spinnaker Support is the fastest growing provider of third-party maintenance and managed services for Oracle and SAP applications

2020 Highlights

Record Growth, Healthy Financials: Net new sales deals increased by 39.1% and revenue by 22.3% compared to FY 2019. The company retained a strong balance sheet and extended its streak of profitability to 48 quarters.
  Satisfied, Loyal Customers: Annual customer satisfaction ticked up to 98.7%, and Net Promoter Score (NPS) reached 79. For 2020, the company earned a 4.9/5.0-star overall rating on Gartner Peer Insights, based on independent, verified customer reviews. 
  Expanded Staffing: Employee count grew by 36% in 2020, with support resources added in all eight global support centers. Key leadership roles were filled in all areas. Employees rate working for the company with 4.9/5.0 stars on Glassdoor and demonstrated their loyalty with retention rates exceeding 92%.
  New & Improved Services: Launched new managed service offerings for Salesforce CRM and SAP Business Intelligence. Innovative tools and technologies to improve enterprise security and decrease issue resolution time included Artificial Intelligence (AI) and proactive monitoring.

"2020 was another exceptional year for Spinnaker Support," said Matt Stava, CEO at Spinnaker Support. "We excelled in revenues, new customer acquisitions, existing customer retention, and the continuous building of our employee base and hiring key executive leaders. I am extremely proud of our accomplishments, which occurred despite unprecedented global pandemic and economic turbulence. Because we prioritize customers and take a flexible approach to contracting, we lost zero customers to the global downturn while earning a Stevie Award in recognition of our impressive COVID response customer service."

Record Revenues from More Global Customers

In 2020, Spinnaker Support's customer count rose to just over 1,300. New customers included highly recognized and respected global brands spanning many industries, with 34% of new customers from enterprises headquartered outside of the United States. Additionally, existing customers consolidated their service requirements with Spinnaker Support, where 30.7% contracted for two or more of the company's support services.

Eleven organizations switched to Spinnaker Support from rival third-party support vendors, citing a stronger security program, more flexible commercial contracts, and lack of legal risk. "It was easy to switch to Spinnaker Support. We gained contract flexibility, improved service quality with our own assigned support team, and now enjoy a friendly and collaborative relationship," said an Oracle Database Customer in the Environmental Services industry.

New and Enhanced Services to Meet Customer Demand

Spinnaker Support added and enhanced significant services to meet the evolving needs of its clients.

The SAP practice launched SAP Business Intelligence managed services packages and enhanced its Basis services offering, two critically underserved areas in the market. The company announced the availability of Salesforce® application management and consulting services, immediately onboarding the first customers. Reviews on the Salesforce AppExchange are high and sales pipeline continues to expand. The JD Edwards practice enhanced its existing managed services with a new 24/7 monitoring solution designed to proactively address emerging technical issues. "With our limited resources, it is reassuring to have Spinnaker Support's 24/7 CNC managed services and monitoring working with us," said Roxanne Sikraji, Director of Technology, Jacobus Energy. "Through automated alerts, their global JD Edwards team often fixes a CNC issue before we're even aware of it."

For the excellence of its existing and new services, Spinnaker Support's operations teams received a record five Stevie Awards in 2020, including Customer Service Department of the Year, Front-Line Customer Service Team of the Year, and Woman of the Year in Customer Service.

Building Towards the Future

Spinnaker Support onboarded a record number of new employees in all regions and nearly doubled the global tax and regulatory compliance team size.

To embrace growing market demand, Spinnaker Support appointed key executives with decades of industry experience. These included:

Chad Stewart, a veteran Salesforce consultant and team leader previously with Slalom Consulting, as the first Vice President of Global SaaS Support Services
  Martin Biggs, former IBM executive as Vice President and General Manager of the EMEA region responsible for driving sales and operational management
  Shaun Forshey, Vice President, Customer Success, formerly with Oracle and Microsoft and responsible for customer lifecycle management and delivering WOW customer experiences
  Megan Morris, Vice President, Human Resources, a senior leader charged with helping Spinnaker Support rapidly scale its HR backbone during this period of immense growth
  Brian Stanz, Vice President, JD Edwards Global Support Services, an operational leader with 30 years of development and business management experience for Oracle and JD Edwards

Customer Satisfaction Rises Again

Overall satisfaction increased to 98.7% in the annual customer survey, with high marks for service quality, technical and functional knowledge, and the understanding of customer's business and unique environment. Customer loyalty remains unrivaled in the space, with a Net Promoter Score of 79, nearly twice the service industry average. Customer willingness-to-recommend exceeded 91%, illustrating the high regard of the growing customer base.

Customers cite the comprehensive, responsive service, which averaged <5-minute response time. "With SAP's support, we never spoke with anyone," said Craig McBroom, Business Analyst at BancTec. "Now, with Spinnaker Support, it's 3-4 times better than SAP was. We talk to real people who deliver real resolutions. It's like you found the switch to the light in a dark room."

86.3% of annual survey respondents view Spinnaker Support as Critical or Important to the work they do. Korean-based Hanssem agreed: "Spinnaker Support is a partner that is verified and trusted from various angles. We are receiving professional support services, cutting costs, and have reallocated human resources. Even in the coronavirus era, we have been able to strengthen our core capabilities and improve our cash position."

"Since founding in 2008, we have not wavered from our mission of delivering 'supportive support' with integrity," said Stava. "We reinvest a high percentage of revenues into continuous improvement of service capabilities and value, exemplified by the fact that over 70% of employees work in customer-facing service roles. With an outstanding year like 2020, we invest more in the services that drive our customers' business success. Our high customer satisfaction and loyalty scores reflect that level of dedication and outcomes."

About Spinnaker Support

Spinnaker Support is the leading global provider of third-party enterprise software support, managed services, and consulting for mid-size to Fortune 100 global enterprises. Recognized and respected brands that run Oracle, SAP, and Salesforce customers benefit from more responsive, comprehensive, and affordable services for their enterprise applications and technologies. Since 2008, our award-winning services, exacting standards, and unparalleled expertise have earned us the trust and loyalty of more than 1,300 organizations in 104 countries. To learn more about Spinnaker Support, visit our website.

Michelle Wilkinson
1-720-4575442
mwilkinson@spinnakersupport.com

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