Welcome to our dedicated page for Hackett Group (The). news (Ticker: HCKT), a resource for investors and traders seeking the latest updates and insights on Hackett Group (The). stock.
The Hackett Group Inc (NASDAQ: HCKT) is a premier intellectual property-based strategic consultancy firm renowned for its expertise in enterprise benchmarking and digital transformation. With a strong focus on global companies, Hackett Group offers a comprehensive range of services designed to enhance business performance and operational efficiency.
Specializing in digital transformation, the firm provides cutting-edge solutions including robotic process automation and enterprise cloud application implementation. Their service portfolio extends to business transformation, enterprise analytics, working capital management, and global business services. Additionally, Hackett Group has a notable presence in business strategy, operations, finance, human capital management, strategic sourcing, procurement, and information technology, earning accolades for its Oracle and SAP practices.
Since its inception, Hackett Group has executed over 15,000 benchmarking studies with leading corporations and government entities. Their clientele includes 97% of the Dow Jones Industrials, 89% of the Fortune 100, 87% of the DAX 30, and 59% of the FTSE 100. These studies contribute to the firm's Best Practice Intelligence Center™, a repository of benchmarking metrics and practices designed to drive organizational excellence.
The company is organized into three main segments: Oracle Solutions, SAP Solutions, and Global Strategy & Business Transformation (S&BT). The Global S&BT segment, primarily operating in the United States, is the leading revenue generator, reflecting the firm's strong market position and trusted advisory capabilities.
As a trailblazer in Generative Artificial Intelligence (Gen AI) strategy, Hackett Group continues to innovate, providing clients with advanced solutions to navigate the complexities of modern business environments. With a commitment to excellence and a track record of success, Hackett Group remains a pivotal player in the realms of strategic consulting and digital enterprise transformation.
The Hackett Group's latest research reveals that Digital World Class® HR organizations have achieved significant efficiency improvements through strategic technology investments. These organizations report 44% lower labor costs compared to peers in 2024, up from 33% in 2023. Their technology spending per HR full-time equivalent is 200% higher than peers, a substantial increase from 85% in 2023.
These organizations have automated 85% or more of transactions across six key HR processes, leading to a 51% increase in HR staff productivity in 2024. They are 67% more likely to have senior HR leaders involved in strategic planning and provide 47% more training hours annually. Their efficiency is demonstrated by filling 68% more positions internally and reducing hiring time by 27%.
The Hackett Group (NASDAQ: HCKT) will ring the Nasdaq Opening Bell on November 15, 2024, celebrating its acquisition of Gen AI development firm LeewayHertz. The acquisition integrates LeewayHertz's Gen AI development capabilities and ZBrain™ platform with The Hackett Group's intellectual property and AI XPLR™ platform, creating a comprehensive end-to-end AI solution. The ceremony will be led by Ted Fernandez, Chairman and CEO of The Hackett Group, alongside LeewayHertz CEO Akash Takyar and other executives. The acquisition aims to enhance consulting services and software platforms, boosting AI implementation capabilities and enabling clients to better leverage their data for innovation and productivity.
The Hackett Group's European Working Capital Survey reveals a €1.3 trillion opportunity in untapped working capital for European companies. Key metrics show mixed performance: Days inventory outstanding worsened by 5% to 66 days, days sales outstanding improved slightly by 0.2% to 47 days, and days payables outstanding increased by 2% to 70 days. The cash conversion cycle deteriorated by 4% to 44 days.
Companies face challenges with high interest rates and economic uncertainties, reflected in declining operational metrics: cash to current liability ratio dropped from 0.31 to 0.28, while total debt increased from 40% to 43% of revenue. The survey highlights Generative AI as a important technology for optimizing working capital management through improved cash flow forecasting and inventory optimization.
The Hackett Group (NASDAQ: HCKT), bp, and Thought Industries have received recognition from Brandon Hall Group for bp's employee learning certification program. The program, launched in 2022 for bp's global business services (GBS) division, combines bp's learning methodology with The Hackett Institute's Certified GBS Professionals programs.
The program has shown impressive results: 62% Net Promoter Score, 93% completion rate within four months, 30% higher promotion rates for graduates, and lower attrition rates. Over 5,000 employees in bp's GBS organization across Hungary, India, and Malaysia benefit from this modular, online learning platform with live training sessions.
The Hackett Group (NASDAQ: HCKT) reported strong Q3 2024 financial results, with total revenue reaching $79.8 million and revenue before reimbursements of $77.9 million, exceeding guidance. GAAP diluted EPS was $0.31, compared to $0.34 in Q3 2023, while adjusted diluted EPS increased to $0.43 from $0.41 year-over-year. The company announced the release of AI XPLR version 2 and the acquisition of LeewayHertz. The Board approved an additional $20.0 million share repurchase authorization and declared a Q4 dividend of $0.11 per share.
The Hackett Group's latest research reveals that Digital World Class® finance organizations are operating at 47% lower costs with 50% fewer full-time equivalent (FTE) staff compared to their peers. These organizations demonstrate superior value beyond cost savings, with 64% fewer FTEs in transactional roles, 32% fewer in financial planning and analysis, and 29% fewer in specialist finance roles.
Digital World Class® finance organizations are uniquely positioned to leverage generative artificial intelligence (Gen AI) for faster transformation and innovation. They close and consolidate financials 36% faster, complete forecasts five days sooner, and dedicate 82% more time to higher-value activities. This efficiency allows them to extract maximum value from AI and extend their market advantage.
The Hackett Group (NASDAQ: HCKT) has announced its upcoming third quarter 2024 earnings release and conference call. The company will release financial results for the quarter ended September 27, 2024, on Monday, November 4, 2024, after market close. A conference call with senior management will follow at 5:00 P.M. ET to discuss the results.
Investors can join the call using the number (800) 593-0486 (Passcode: Third Quarter), with an international line available at (517) 308-9371. A rebroadcast will be available from 8:00 P.M. ET on November 4 until 5:00 P.M. ET on November 18, 2024. The call will also be webcast live on the company's website. An online replay will be accessible after the call through November 18, 2024.
The Hackett Group (NASDAQ: HCKT) has unveiled its AI XPLR™ 2.0 platform at Gen AI Breakthrough Conferences in London and Atlanta. This next-generation AI platform introduces groundbreaking features to transform how businesses leverage Gen AI for strategic impact. Key features include:
- Enterprise-wide Gen AI opportunity simulation
- Embedded AI Applications Discovery in existing software
- Expanded AI Use Case Library
- ROI Analyzer for quantifying AI initiative benefits
- Dynamic Taxonomy Capability for industry-specific customization
- Proof-of-Concept Requirements Generator
The launch events in London (October 9-10) and Atlanta (October 13) will showcase live demonstrations and explore real-world applications of AI XPLR 2.0. The Hackett Group aims to position itself at the forefront of the Gen AI revolution, empowering organizations to unlock value at scale.
The Hackett Group's latest research reveals that Digital World Class® procurement organizations are poised for significant gains with the adoption of generative AI (Gen AI). These top-performing organizations can expect a 54% increase in staff productivity and a 47% reduction in process costs. Despite industry-wide cost escalations, Digital World Class® procurement organizations operate at 21% lower costs than peers and deliver 2.5 times greater procurement return on investment.
Key advantages include managing 21% more spend, achieving two times higher spend cost reduction savings, and a 59% reduction in maverick buying. They also demonstrate superior operational excellence with 23% shorter sourcing cycle times and 76% lower process costs per order. These organizations invest 15% of their operating budget in technology, which is 32% higher than typical organizations, reflecting a significant increase from five years ago.
The Hackett Group has announced the winners of its 11th Annual Digital Awards, recognizing companies for their digital transformation achievements. The 2024 winners are:
- 3M (Order-to-Cash)
- MTN Group (Source-to-Purchase)
- IBM (Plan-to-Results)
- CMA CGM (Market-to-Opportunity)
- Johnson & Johnson (Global Business Services – Service Desk)
- Intermountain Health (Talent Acquisition)
- WNS (Talent Management)
- Micron Technology (Purchase-to-Pay)
Key trends highlighted include the increasing use of robotic process automation, intelligent data extraction, and generative AI. The winners demonstrated innovative applications of automation and AI, resulting in significant time savings, cost reductions, and improved efficiency across various business processes.
FAQ
What is the current stock price of Hackett Group (The). (HCKT)?
What is the market cap of Hackett Group (The). (HCKT)?
What services does The Hackett Group Inc offer?
What is the primary focus of The Hackett Group Inc?
Which market segments does The Hackett Group Inc operate in?
What is the Best Practice Intelligence Center™?
Who are some of the major clients of The Hackett Group Inc?
What is Generative Artificial Intelligence (Gen AI) strategy?
What are the core business areas of The Hackett Group Inc?
How does The Hackett Group Inc generate most of its revenue?
What recognition has The Hackett Group Inc received for its services?
Where does The Hackett Group Inc primarily operate?
