The 2024 Buyer Guide of Best Professional Services Automation Software

Best Professional Services Automation software

Octobits Blog – If you’ve got the best professional services automation software, you’ve got the foundation for a successful service delivery.

But with so many options out there, how do you find the right one for your specific needs?

That’s why we’re going to look at some of the top-performing PSA software in the 2024 market.

Criteria for Selecting the Best PSA Software

When you’re looking for the best PSA software, there are a few key things to think about, as the “2019 Professional Services Automation Buyer’s Guide” from Service Performance Insight (SPI) explains.

For example, the SPI report showed that firms using PSA solutions had a 4% improvement in billable utilisation, which directly contributed to higher revenue.

One essential criterion to look for is cloud-based functionality as detailed in The Ultimate Guide to Professional Services Automation by Planview

This feature lets you collect and share data in real time with other teams, which is vital for working remotely. This has become even more important since the pandemic COVID-19.

Planview says that cloud-based systems come with project management capabilities built in, which helps firms manage engagements more efficiently and make sure their project metrics are accurate.

Another big thing to look for is how well the software can be integrated with other systems. It’s important that PSA systems can be integrated with existing tools like accounting, CRM, and payroll software.

This kind of integration is a pretty big deal for businesses that often have to juggle lots of different systems and need a unified platform to make things more efficient.

For example, the best solutions like Autotask PSA work with over 170 industry-leading solutions, while SAP S/4HANA Cloud offers real-time analytics and AI-powered insights.

Another important area is financial management and revenue recognition.

The SPI report shows that PSA solutions boosted project margins from 34% to 36%, which had a big impact on overall profitability.

This shows how a solid financial module in PSA software can help you keep better track of project costs and manage your resources better.

Think about how user-friendly it is and whether it can grow with your business.

Many mid-market companies like software with simple interfaces, as you can see with Rocketlane.

If it’s easy to adopt, you’ll learn it quickly and get the most out of it, which is especially important for companies going through digital transformation.

So, what is the best professional services automation software based on criterias above? Let’s check.

Learn more: What is Professional Services Automation Software: PSA Complete Guide

Top Professional Services Automation Software in 2024

Kantata (formerly Mavenlink)

Kantata, which came about when Mavenlink and Kimble joined forces, is a solid PSA solution designed with professional services firms in mind.

Key Features of Kantata

Kantata gives you real-time data access, solid reporting tools, and a flexible platform that’s perfect for professional services.

It’s got all the tools you need for resource management, financial management and project collaboration, all in one cloud-based package. 

Another great thing about the software is that it’s really easy to integrate with other tools like CRM and ERP systems.

Pros of Kantata

Kantata’s reporting tools give users a clear view of project status, resource allocation and profitability.

The real-time data access helps project managers make better decisions, so they can respond quickly to challenges.

This backs up what the SPI report said, which was that PSA solutions can boost project margins by up to 2%, from 34% to 36%.

What’s more, lots of users like how the system can be tailored to suit different business needs, and it can be scaled up as firms’ requirements change.

Cons of Kantata

Kantata is pretty complex and takes a lot of time and effort to set up. Some users have said that some features could be more refined and automated, which could impact efficiency, especially for new adopters.

NetSuite OpenAir

NetSuite OpenAir has become one of the best professional services automation software because of all the tools you need, no matter how big your business is or how many people you have on your team.

Key Features of NetSuite OpenAir

NetSuite OpenAir is fully scalable and helps you manage non-billable time better, improve project management, and automate billing processes.

It’s got modules for resource management, project accounting, time and expense tracking, and invoicing.

One of the best things about it is that it can be integrated with other ERP and CRM systems, which makes it easy for data to flow across the whole organisation.

Pros of NetSuite OpenAir

NetSuite OpenAir is known for being able to grow with your business and adapt to your changing needs. 

Plus, the software makes financial processes easier with features for budgeting, invoicing, expense tracking, and revenue recognition.

On top of that, NetSuite OpenAir’s real-time reporting and analytics give your firm a full picture of project health, resource use, and financial performance.

Cons of NetSuite OpenAir

NetSuite OpenAir is a great tool, but it can be tricky to get up and running. So, you need to have someone on hand who knows what they’re doing to get it configured.

Some users have said that it takes a lot to learn how to use it, and the software has a lot of features that might be too much for smaller teams.

SAP S/4HANA Cloud

SAP S/4HANA Cloud is a modular ERP solution with integrated PSA capabilities, making it a great choice for mid-market and enterprise-level firms.

Key Features of SAP S/4HANA Cloud

SAP S/4HANA Cloud is great for its AI-powered analytics and real-time data processing.

It’s got project and resource management, financial reporting, and business intelligence tools all in one place.

It can be scaled up or down depending on what a company needs, so it’s great for growing businesses.

The software’s AI-driven insights help firms make data-backed decisions.

So, the software can spot where projects aren’t as efficient as they could be and make sure they’re using their resources in the best way.

Pros of SAP S/4HANA Cloud

SAP S/4HANA Cloud is getting a lot of praise for its real-time insights, preconfigured best practices, and scalability. 

The software can be scaled up or down to suit businesses of all sizes and can be adapted to changing needs.

Cons of SAP S/4HANA Cloud

SAP S/4HANA Cloud can be tricky to get to grips with, especially if you don’t have the right know-how.

The cost of the software can be a factor for smaller businesses, and they may need to make additional investments for customisation and integration.

Syncro

Syncro is an all-in-one platform for PSA, RMM, and remote access, designed with Managed Service Providers (MSPs) in mind.

Key Features of Syncro

Syncro brings together PSA and RMM features in one place, making workflows easier and helping MSPs work more efficiently.

The software also has a built-in help desk ticketing system for managing customer support requests and issues.

It’s worth mentioning that Syncro has great remote access features, which let MSPs fix problems and resolve issues from afar.

Plus, the platform makes it easy to handle invoices and bills, with automated reconciliation and customer relationship management features.

Pros of Syncro

Many users love Syncro’s user-friendly interface and intuitive design, which makes it really easy to navigate and adopt.

Syncro’s pricing structure is often seen as a big plus, making it an attractive option for smaller MSPs.

Syncro’s scripting engine and asset management capabilities give MSPs the power to automate tasks and manage client devices like a breeze.

Cons of Syncro

Some users have said there are some limits to what you can do with the custom reporting and inventory management features.

There are a few areas of the mobile app that could do with a bit of an update. Some users have reported a few issues and some limitations in functionality.

Learn more: The RMM Explained – What does RMM Software do? What RMM Solves?

Datto Autotask PSA

Datto Autotask PSA is one of the best professional services automation software in cloud service. Why? 

Because Datto Autotask PSA is a complete package for MSPs. This platform helps businesses run their operations more smoothly and boost their profits.

Key Features of Datto Autotask PSA

Autotask has got all the tools you need to manage your service delivery, including ticket management, SLA tracking and customer satisfaction monitoring.

The software has project management tools for planning, scheduling, task management and tracking progress.

Autotask makes it easy to manage your resources, so you can allocate them efficiently, plan your capacity, and match skills.

Datto Autotask PSA also makes it easier to manage your finances with features for budgeting, invoicing, expense tracking, and revenue recognition.

Pros of Datto Autotask PSA

One of the best things about Datto Autotask is how flexible it is and how many features it has.

You can also customize views and dashboards, which is great for MSPs as it means they can tailor the platform to their specific needs.

What’s more, the software has a great track record when it comes to reliability.

This means businesses can count on having access to their critical data and project management tools at all times.

Cons of Datto Autotask PSA

Datto Autotask has a lot going for it, but users have said that it can be tricky to get to grips with, especially for smaller teams with limited technical resources.

On top of that, the software’s configuration can be pretty complex, so it might take a bit more time and effort during the initial setup phase.

BigTime

BigTime is another well-known PSA software designed to help professional services firms cut operational costs, manage resources, and speed up the billing process for completed work.

Key Features of BigTime

BigTime has project management and time tracking features.

BigTime’s got great integration with tools like QuickBooks, which makes it easier for firms to manage billing and financial reporting.

What’s more, BigTime gives you real-time insights into project status and profitability, so you can make data-driven decisions.

The user-friendly interface makes it simple to track billable and non-billable hours.

Pros of BigTime

BigTime’s got all the project management features you could need, including planning, scheduling, task management and progress tracking.

We’ve got to hand it to BigTime for being able to bring project management and time tracking together in one place.

Plus, BigTime works with accounting software, which makes it easy to create invoices and do financial reports.

We also want to give a shout-out to BigTime’s customer support team, who are super responsive and helpful.

Cons of BigTime

Some users have said that BigTime can slow down when it’s handling a lot of data or when there are multiple users.

The software’s layout can be a bit tricky for those new to it, as it takes a little getting used to.

Replicon

Replicon is a great PSA software solution for businesses that need detailed time-tracking capabilities.

It’s got all the bells and whistles, including time management, billing, and project tracking.

Key Features of Replicon

Replicon’s cloud-based platform makes it easy for users to track time, manage expenses, and generate invoices with precision.

It works with lots of different accounting and project management tools, so it’s flexible for businesses that want to bring all their data together.

Replicon is great at tracking time for complex projects, which makes it a really useful tool for firms that rely on accurate billing.

Replicon’s real-time view of how resources are being used means businesses can make smart decisions about staffing and project allocation.

Pros of Replicon

Replicon got a simple, easy-to-use interface and some pretty solid time-tracking features, so it’s a great choice for companies that need to keep a close eye on their billable hours.

The software can be integrated with other platforms, which makes it easier to work across different systems and helps to improve efficiency.

If you use a PSA solution like Replicon, you can expect to improve your project margins.

Accurate time-tracking helps you avoid losing out on revenue and makes sure your clients are billed correctly for all the services you provide.

Cons of Replicon

Some users have said that Replicon’s customisation options are a bit limited, which could be a downside for firms with complex billing needs.

However, while the software is great for time-tracking, it might not have all the more advanced project management features you’d find in other PSA solutions.

Comparison Table for 2024 Best Professional Services Automation Software

SoftwareBest ForNotable FeaturesStarting Price
Kantata (formerly Mavenlink)Mid-sized professional services firms and consulting agenciesReal-time data access, robust reporting, resource management, and customisable workflows.Contact for pricing
The system’s integration capabilities allow seamless CRM and ERP integration, making it highly adaptable to various business processes​.
NetSuite OpenAirGrowing businesses with 50+ employees requiring scalable PSA solutionsFully scalable platform, comprehensive project management, resource allocation, real-time billing, and invoicing automationContact for pricing
Integration with financial and CRM systems. 
SAP S/4HANA CloudEnterprise-level organisations needing ERP integration with PSA capabilitiesAI-powered analytics, real-time data processing, and preconfigured best practices for project managementContact for pricing
Offers advanced financial reporting and resource management capabilities, helping companies operate at higher efficiency​.
SyncroSmall to mid-sized Managed Service Providers (MSPs)Integrated PSA and RMM, ticket management, asset management, automation for billing and invoicing$129 per user/month
More than 50 integrations with tools like QuickBooks and Pax8. Users commend its ease of use and affordable pricing structure​.
Datto Autotask PSAMid-market MSPs and IT service providers seeking a centralised, data-driven platform99.99% uptime, advanced ticketing and project management, 170+ integrations, comprehensive resource trackingContact for pricing
Noted for improving workflow efficiency, allowing for 4% increased billable utilisation, as stated in SPI’s findings​.
BigTimeSmall to mid-sized professional service firms focusing on accurate billing and invoicingIntuitive interface, seamless integration with QuickBooks, robust time and expense tracking, project cost analysisStart from $20 per user/month
Users report improvements in financial reporting accuracy, supporting better profitability and cash flow management​.
RepliconOrganisations with a primary need for detailed time-tracking and billingCloud-based time capture, expense management, real-time project tracking, integrations with accounting and project toolsContact for pricing
Recognised for enhancing billable hour accuracy and improving project profitability, aligning with insights from SPI’s PSA benchmarks​.

How to Choose the Right PSA Software for Your Business

For the 2024 best Professional Services Automation software, it’s all about visibility and control.

Therefore, the right software will give you a centralised platform for managing projects, resources, and finances, which will ultimately improve productivity.

So, start by checking out the project management features.

As the Planview guide shows, a good PSA solution has tools for budgeting, integrated task management, and real-time collaboration, which help project teams stay on track.

Take SAP S/4HANA Cloud, for instance. Its preconfigured best practices and real-time insights are perfect for larger Australian businesses with complex operations.

Next, think about how the software handles resource planning.

The SPI report found that companies using PSA solutions saw a 52-hour increase in billable hours per consultant each year.

That’s the equivalent of an $884,000 revenue boost for a company with 100 consultants.

This shows how important it is to choose software that can make the best use of resources, so that the right skills are matched to the right projects.

Autotask PSA is a great fit for many small businesses, with 65% of its users being small businesses. It offers a simple and centralised way to manage client engagements.

Meanwhile, Kantata Professional Services Cloud has customisation options, which is great for mid-sized firms that need to be able to manage different projects in different ways.

Finally, make sure the PSA solution has great analytics and reporting capabilities.

With the Australian market getting more and more competitive, it’s crucial to make data-driven decisions.

SPI Research reckons that PSA software with advanced analytics can pay for itself in about six months, so it’s a pretty cost-effective investment.

How Octobits Helps You Get the Suitable PSA for Your Business?

With the market set to reach USD 25.25 billion by 2030, there are plenty of PSA options and a lot at stake.

That’s why you need to consider Octobits. We’re not trying to sell a PSA solution, but we can help you find the perfect fit.

Octobits is a SaaS spend management solution. 

So, Octobits is your one-stop shop for all things IT. It gives you a single, unified dashboard to manage devices, billing, and reporting.

This overview of your IT setup helps you spot areas that could do with some TLC, as well as where a PSA solution could make a big difference.

For example, if you’re having trouble with manual billing and lots of different reports from different IT vendors, Octobits can show you where the problems are.

So, Octobits is there to help you find PSA solutions that can handle your financial management and reporting needs.

What’s more, Octobits works with all the big IT vendors, including Datto Autotask (a top PSA provider), so you can see how your current tools work together and where a PSA solution could fit into your tech stack.

This integration capability makes sure that your chosen PSA solution doesn’t create data silos but rather helps your whole organisation work better together and share data more easily.

And here’s the best part: Octobits is free until December 2024.

In Closing

The right PSA software for your business depends on what you need and what’s important to you.

If you’re a smaller business, you’ll find great solutions in Syncro and BigTime. And if you need more advanced features, Datto Autotask and Replicon are worth a look. 

That’s why you should think about Octobits as your support system when you’re the best professional services automation software for your business.

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