Question-and-Answer Session
Operator
(Operator Instructions) Questions will be answered in the order received. We’ll allow a few moments. Our first question comes from John Neff -William Blair & Company, L.L.C.
John Neff -William Blair & Company, L.L.C.
A couple questions here for you, first I guess I was wondering, Jerre, if you could provide us with a wallet share update, something you’ve talked about in the past, in terms of where you think the current penetration among say the top 1,000 customers is? Dovetailing with that if you could give us an update on the progress of global account teams?
Jerre L. Stead
Two or three things and I’ll answer part of it and them I’m going to ask Jeff to answer part of it. I’m glad you asked because every place we go we get that question from investors. Just for a quick background for those that aren’t familiar, what John’s asking about is our review of potential selling wallet size in our 1,000 largest customers.
As a refresher, our 100 largest customers provide approximately 35% of our revenue and our 1,000 largest customers 75% to 76%. If we were to think about what we could sell into each of those customers, not by saying we would sell all of our products and services, but indeed selling what we believe is specific to each customer, that’s how we create wallet size.
Our belief is, and just for information, each month now at our leadership team meeting, we have one of the GAMs or Global Account Managers, come in and update us on their account progress. On average, we would expect to see about 25% of our total currently being sold into the 1,000 largest customers. That range is from as small as 3% or 4% of potential to as high as 50%, but on average, 25%. Jeff, pick up if you would on the progress with the GAMs.
Jeff Tarr
In fact they are related questions because the global account management program is one of our most powerful levers for driving that penetration and increasing our share of wallet. We’ve made a lot of progress and our global account management program has really moved from an initiative to a way of doing business and it’s become deeply embedded in the fabric of our company.
During the most recent year the program did drive organic growth and in general our global accounts did grow at a faster rate than the company overall. A number of key successes I’m particularly proud in the fourth quarter of progress with our environmental domain, that’s our youngest domain. It is growing very rapidly and we’re seeing a significant and rapid penetration within our global accounts of our environmental offerings.
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