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BigTime
BigTime
FrontRunners 2023
BigTime is an online time and billing solution designed to serve professional service firms like accounting, engineering, government contracting, legal and IT services. The integrated solution offers features like time and expense...Read more about BigTime
BQE CORE Suite
BQE CORE Suite
FrontRunners 2023
BQE’s powerful all-in-one platform and expert support give Architecture, Consulting, and Engineering firms the intuitive tools they need to meet the demands of their firm, empower their team, maximize profitability, and deliver su...Read more about BQE CORE Suite
FreshBooks
FreshBooks
FreshBooks takes billing out of your hands and puts it on autopilot. Set up automated invoicing, online payment options (ACH and Credit Card), and late payment reminders to get paid 2x faster. Next, boost team productivity with pr...Read more about FreshBooks
Striven
Striven
FrontRunners 2023
Striven is a cloud-based enterprise resource planning (ERP) solution suitable for many industries and organizations of all sizes. It offers features for accounting, inventory management, human resources, customer relationship mana...Read more about Striven
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NetSuite OpenAir
NetSuite OpenAir
NetSuite OpenAir offers buyers a collection of applications designed to support every stage of the professional services delivery lifecycle. Offered as Software-as-a-Service, the platform includes applications to manage projects, ...Read more about NetSuite OpenAir
Birdview PSA
Birdview PSA
FrontRunners 2023
Birdview PSA is a full-cycle platform that helps professional services organizations plan, manage, and forecast resources, finances, and projects in one place. With a focus on giving customers a birds-eye view into their business,...Read more about Birdview PSA
Scoro
Scoro
FrontRunners 2023
Scoro is a comprehensive work management software specifically designed to cater to the unique needs of service businesses that have grown weary of dealing with disjointed systems, unpredictable workloads, and shrinking profit ma...Read more about Scoro
Sage Intacct
Sage Intacct
Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide financial reporting and operational insight...Read more about Sage Intacct
Polaris PSA
Polaris PSA
Polaris Self-driving PSA by Replicon harvests 100% accurate business data in real-time, does the heavy-lifting analysis, and provides recommendations for proactive decision-making. SmartBeats constantly harvests data from us...Read more about Polaris PSA
Beyond Software
Beyond Software
Beyond Software is a project accounting and management software system available for small to mid-size companies. The system allows organizations to manage and execute around their projects by increasing visibility and creating ac...Read more about Beyond Software
eTimesheets.com
eTimesheets.com
eTimesheets is a web-based time tracking and labor cost management software for contractors and consulting firms who need to manage their hours in compliance with the Defense Contract Audit Agency (DCAA) regulations. eTimesheets i...Read more about eTimesheets.com
Wrike
Wrike
FrontRunners 2023
Wrike is a cloud-based project management platform for teams of 20+ that is suitable for both large enterprises and SMBs. It supports remote work for various teams. This solution comes with Gantt charts, calendars, workload view f...Read more about Wrike
FunctionFox
FunctionFox
FunctionFox is a cloud-based time tracking and project management application, offering timesheets and estimates, as well as scheduling, task assignment, and reporting. FunctionFox’s capabilities are suited for the billing a...Read more about FunctionFox
eSilentPARTNER
eSilentPARTNER
FrontRunners 2023
e·silentpartner by The Médi Group is a cloud-based integrated professional services automation (PSA) solution. It offers users project and resource management, accounting and financial management, time and expense tracking, media ...Read more about eSilentPARTNER
Deltek Vantagepoint
Deltek Vantagepoint
Deltek Vantagepoint is a solution that helps your people manage your projects from start to finish. Vantagepoint is built specifically for professional services firms to improve productivity, boost collaboration, and increase prof...Read more about Deltek Vantagepoint
Upland PSA
Upland PSA
Upland PSA (formerly Tenrox) helps build a predictable and profitable services business. Upland PSA centralizes timesheet and expense automation for your entire workforce with templates for different roles, clients, projects, or r...Read more about Upland PSA
WrkPlan
WrkPlan
Wrkplan is a cloud-based, integrated enterprise resource planning (ERP) system. It is designed for government contractors including professionals, consulting and service providers with DCAA compliance requirements. The platform ...Read more about WrkPlan
Advantage
Advantage
Advantage provides an all-in-one purpose-built software platform for managing advertising agencies, creative teams, public relations firms, and marketing firms of all sizes. Over 850 agencies and creative teams use Advantage for A...Read more about Advantage
Mosaic
Mosaic
Mosaic is an AI-powered, web-based resource and project management software that's guaranteed to boost profitability and productivity. It integrates with most project and financial management software (including Zapier, Jira, Delt...Read more about Mosaic
Asana
Asana
Asana is the perfect platform to help you manage and implement your IT projects across your organisation. Asana helps teams orchestrate their work at scale—from daily tasks to strategic initiatives. With Asana, teams are more con...Read more about Asana
Popular Comparisons
Buyers Guide
Last Updated: March 16, 2023Professional Services Automation (PSA) software gives professional services organizations real-time access to critical information throughout their entire services project life cycle. PSA software improves operational effectiveness, employee value and management visibility.
Currently, there are hundreds of PSA software solutions on the market. In order to help you navigate this complex market, we’ve written this buyer's guide to support professional services organizations across a range of industries as they assess their options.
Here’s what we’ll cover:
Common Features of PSA Software
What Is PSA Software?
PSA software is designed for service-oriented organizations needing to automate their processes and streamline their operations, including administration, service delivery and new business generation. PSA software is basically enterprise resource planning (ERP) software for a professional services firm. However, it’s focused primarily on the management of services delivered through human resources, rather than tangible assets.
With fully integrated professional services software, firms can improve intangibles that are more difficult to quantify, such as employee turnover, vendor efficiency and customer satisfaction. PSA software typically includes capabilities for project management, resource management, timesheet management and financial accounting.
Key industries benefiting from PSA software include: accountancy, advertising, architecture, audit, computer software services, construction, engineering, management consultancy, software/IT, aerospace and defense, telecommunications and marketing services.
Common Features of PSA Software
Supports managers as they create and track schedules, budget for costs and collaborate with employees and clients. Functions include scheduling projects and employees, implementing budget and project cost tools and managing project tasks. Example products are Microsoft Dynamics GP, Netsuite OpenAir and Deltek Vision. | |
Project accounting | Tracks revenues and expenses by client and project while simultaneously maintaining a close watch on profitability. A few key functions include billing as well as measuring accounts payable and receivable. Examples of products that provide this are Intacct Project Accounting, Sage Accpac and Microsoft Dnyamics SL for Professional Services. |
Monitors employee work time and expenses. Functions of this application include detailing each professional’s availability, utilization and billing status as well as providing Web-based time sheets that can be accessed from anywhere in the world. Examples of products that provide this application are Microsoft Dynamics NAV, SAP Business ByDesign and Sage Peachtree Quantum. | |
Billing & invoicing | Streamlines and automates the expense management and reimbursement cycle, helping businesses create prompt and accurate invoices. Functions include financial reporting and submission processing. Examples of this product are Lawson S3 Financial Management, BillQuick and Sage Peachtree Accounting. |
Help desk | Improves service support for customers that have urgent queries needing attention. Functions of a help desk involve managing and tracking inquiries to create prompt responses as well as the option to compile a FAQ section so clients can instantly find answers. Example products are SAP for Professional Services, Epicor Professional Services and Microsoft Dynamics SL for Professional Services. |
Knowledge & document management | Maintains information shared across company networks to ensure that knowledge isn’t lost with changes in time, location or personnel. Functions involve collecting different document types, creating a centralized information repository and making this knowledge accessible for future development. Some example products include Epicor Professional Services, Deltek Vision and SAP for Professional Services. |
Resource management | Gives companies the tools to track human resources and schedule individuals to projects that best meet their knowledge and skills. Functions include helping managers streamline human resource allocation with customizable databases and providing detailed profiles of professionals that show their project availability and qualifications. A few examples of products with this application are BillQuick, Microsoft Dynamics AX and Lawson S3 Financial Management. |
Procurement & inventory | Ensures that supplies are acquired in compliance with regulations, are readily available and have been safeguarded against loss. Functions include identifying the best products at the best price and automating the process of managing vendors, commodities and contracts. Example products are SAP Business ByDesign, Sage Accpac and Microsoft Dynamics GP. |
Sales & account management | Enables companies to provide high-quality service by tracking past transactions and customer information. Some functions include storing and organizing customer information, analyzing buying trends, generating leads and personalizing marketing. Example vendors are Netsuite OpenAir, Sage Peachtree Quantum and Microsoft Dynamics NAV. |
Market Trends to Understand
As you evaluate PSA software comparisons, a number of trends should be considered. The viability of software vendors will depend on how they address the following trends:
Cloud computing. The proliferation of service firms in the U.S. and around the world is making a huge impact on the way they invest in technology. Since the majority of these firms have fewer than 100 employees, they are savvy shoppers seeking cost-effective, nimble solutions. Gone are the days of service firms investing heavily in on-premise equipment. Since every dollar counts, these firms are seeking remote cloud-based professional services solutions to remove the IT burden from their organization.
Interest-based resource utilization. A benefit that is more difficult to quantify, yet critical to improving profit margins is employee turnover costs. Smart service firms are seeking software solutions that give them the ability to consider employees’ interests when assigning them to projects to ensure motivation. This way, they can match their best performers with the projects those employees most want to take on.
Customer collaboration. Successful service firms have discovered the benefits of working collaboratively with their customers through the use of PSA software. Giving customers direct access to data like vendor schedules, so they can see project timeliness, or invoices, so they can approve and review billable invoices remotely via the cloud, increases customer retention. Technology has evolved to the point where permission and security is instantaneous, giving customers, vendors and stakeholders immediate access to project information.
Integrated accounting and project management. Today, firms realize using disparate systems for accounting and project management can waste time and lead to errors. Unifying both can eliminate uninformed decisions and improve data cleanliness. A single solution allows management to see where each project sits in real-time, which greatly impacts an organization’s ability to respond appropriately.
Benefits and Potential Issues
PSA software helps firms achieve immediate results by quickly improving, automating and streamlining processes that will ultimately help them, including:
Improving project and resource management, invoicing accuracy, time tracking and revenue recognition;
Improving overall performance and profitability with real-time, actionable insight;
Reducing errors and time spent on administrative functions and,
Enhancing customer relationships and retention with a higher level of collaboration.
Unfortunately, some firms fail to achieve these benefits, typically as a result of:
Introducing new project management may require substantial changes within the organization like business process re-engineering or the undoing of comfortable, yet inefficient workarounds;
Re-training staff reluctant to change from their existing software environment and,
Lack of buy-in from senior management, if they do not appreciate the benefits of a more complete solution.