OUR SERVICE LINES
Technology (92% of Revenue)
Our decision to grow our business organically with a consistent, refined business model tailored to providing highly skilled technology talent solutions to world-class companies in the domestic market has been critical to our success over many years.
From a performance standpoint, our overall Technology business declined by approximately 7% in 2024 on a year-over-year basis, due to the impact of the persistent macro uncertainties on the level of technology investments being made by our clients. Following unprecedented levels of growth that exceeded 40% across the two-year period from 2021 and 2022, Technology revenues have declined in 2023 and 2024. Demand within our Technology business stabilized in early 2024 and remained stable throughout the year. Our current KPIs and conversations with our clients suggest a slightly more optimistic, but still relatively stable, demand environment as we move into 2025.
Our technology service offering has evolved over the years beyond traditional staffing assignments to include more consulting-oriented engagements based on the demand we are experiencing from our clients. Clients continue to prioritize efficient access to highly skilled talent and see our services as a cost-effective solution to meet their technology project requirements leveraging our superior delivery capability.
The demand for this consulting-oriented offering continued to contribute positively to the results of our Technology business inclusive of the stability we have seen for more than two years in our
Our clients remain focused on critical technology initiatives across our digital, cloud, data and AI, application engineering practices. Our core competency is sourcing quality talent, at scale, for our clients as demand for various skillsets change and evolve. We expect this to continue as clients increasingly look to us to provide data and digital resources to support their data requirements, integration work and cloud migration activities that are at the front end of their AI investments. As technology has evolved over the decades, we have efficiently evolved with the changing skillset demands of our clients.
Our client portfolio is diverse and is mostly comprised of large, market-leading companies across virtually every industry. This portfolio focus continues to be critical in our ability to drive sustainable, long-term above-market performance.
While the political uncertainty has been resolved with
Our teams made significant progress in our integrated strategy efforts to capitalize on the strong relationships we have with world-class companies by utilizing our existing sales team members, recruiters, and consultants to deliver on higher value engagements that effectively and cost efficiently address our clients’ challenges. In addition, our teams were hard at work in 2024 establishing a development center in
fully operational in
We head into 2025 ideally positioned to capture additional market share should demand improve and continue delivering above-market performance as we have for well over a decade.
Finance and Accounting
Our FA business, which represents 8% of total revenues, declined approximately 24% year over year driven by the impact of business we are strategically no longer supporting due to our repositioning efforts combined with a more challenging macro-environment. Our average bill rate of approximately
We took additional steps in 2024 to provide our teams increased focus over both our Technology and FA business and are well positioned heading into 2025.
POSITIONING KFORCE FOR THE FUTURE
We continue to make the necessary adjustments within the business to maintain high levels of performance, while also maintaining elevated investments on critical initiatives. This provides a great foundation moving forward to retuhigher levels of profitability as revenues inflect. We have made tremendous progress related to the implementation of Workday as our future state enterprise cloud application for HCM and financials, along with the evolution of our nearshore and offshore delivery capabilities with the opening of our
of generating greater operating margins when we retuto
AS WE LOOK AHEAD TO 2025
As has been the case for the last several years, AI continues to dominate the headlines, including
The strength of the secular drivers of demand in technology accelerated significantly coming out of the Dot Com Recession with the foundational internet work by all companies and the Great Recession, with advancements in mobility, cloud computing, among many others, and the 2020 Pandemic, with further digitalization of businesses and the continued headlines around GenAI technologies. I have seen a lot of economic cycles