Octobits Blog – A cloud based professional services automation software is the central nervous system of your service business.
Cloud-based professional services automation software (PSA) links up all the different parts and makes sure they work together seamlessly.
From project management and resource allocation to billing and customer relationship management, PSA software can automate tasks, give you valuable insights, and help you make informed decisions.
But with so many options out there, how do you know which one is right for you? Let’s take a closer look at the world of cloud PSA software.
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ToggleOn-Premise vs. Cloud-Based PSA Software
Before we get into the details of the selection process, it’s important to understand the two main types of PSA software: on-premise and cloud-based.
They both have their own pros and cons, so the best choice for your business will depend on what you need and the situation you’re in.
On-Premise PSA
The usual way to get a PSA software is to install it on your own servers. This gives you more control over your data and security, but it also means you’re responsible for maintenance, updates and infrastructure costs.
As Projectworks says in their PSA Software Buyer’s Guide, this can be a big investment, especially for smaller businesses.
Cloud-Based PSA
A cloud based professional services automation software is hosted on the provider’s servers and accessed via the internet.
This means you don’t have to spend money on hardware and software upfront, and it’s easier to scale your system as your business grows.
As Autotask PSA points out in “The Definitive Guide to Selecting a PSA Solution,” cloud-based solutions are more flexible and accessible.
This means your team can work from anywhere with an internet connection.
This is especially important in industry, where there are so many remote workers and the distances between places are so vast.
Top Cloud-Based PSA Software Solutions in 2024
NetSuite OpenAir
Key Features of NetSuite OpenAir
NetSuite OpenAir is a complete cloud-based Professional Services Automation (PSA) solution that covers every stage of the project lifecycle.
Plus, NetSuite OpenAir has modules for planning, resourcing, budgeting, activity tracking and billing.
NetSuite OpenAir’s financial integration makes sure that invoices and bills are accurate, which helps to reduce the number of days sales outstanding (DSO).
You can also use the platform on the go, so you can keep an eye on your projects and log your time and expenses wherever you are.
Pros of NetSuite OpenAir
One of the best things about it is how it can bring all your project data together in one place, which gives you a better overview of how your projects are going.
This means you can make the best use of your staff and keep an eye on your profits.
Some users review the software makes them more productive because the time and expense cycles are automated.
What’s more, you can access data from anywhere via mobile, so the team can stay connected and up to date.
Cons of NetSuite OpenAir
NetSuite OpenAir has a lot of great features, but it can be pretty complex, especially for mid-market and enterprise-level businesses.
On top of that, while the system has all the bells and whistles, it might be a bit much for businesses new to PSA software.
Learn more: Review of 5 Professional Services Automation Software for Small Business
Kantata (Formerly Mavenlink)
Key Features of Kantata (Formerly Mavenlink)
Kantata, previously known as Mavenlink, offers a range of tools for managing resources, finances, projects, teams, and business insights.
As the big player in cloud based professional services automation software, Kantata is great for managing complex operations and allows you to access data in real time and generate detailed reports.
Its resource planning tools are really useful for businesses, as they help them to deploy resources effectively across projects, ensuring they’re used to their fullest potential.
Pros of Kantata (Formerly Mavenlink)
Kantata is great at reporting and has lots of data access, so it’s a great tool for businesses that need lots of customisation options.
These features help make operations more efficient.
The platform can also integrate with other popular tools like Salesforce and HubSpot, which is great because it means it can be used with a wide range of existing tech stacks.
Cons of Kantata (Formerly Mavenlink)
Kantata is pretty steep to learn and can be pretty complex to navigate, so it takes a lot of time to get it set up and configured.
Some features could be more refined and automated, which might make the software less effective for new users or smaller teams.
FinancialForce PSA
Key Features of FinancialForce PSA
FinancialForce PSA is a cloud-based solution built on the Salesforce platform.
It’s perfect for businesses that need some serious project management and financial integration capabilities.
The software gives you full visibility of your projects, including budgeting, forecasting and revenue recognition.
FinancialForce PSA works hand-in-hand with Salesforce CRM, giving you a single view of your customers that can make their experience with you better.
Pros of FinancialForce PSA
The best thing about FinancialForce PSA is how it works with Salesforce.
This lets businesses use CRM data to make project management and service delivery better.
This integration helps businesses manage customer expectations more effectively, which in turn leads to better project outcomes.
The project accounting features are really comprehensive, including things like detailed revenue recognition and expense tracking. This gives businesses a clear picture of their financial health.
Cons of FinancialForce PSA
FinancialForce PSA can be pricey, especially for small to mid-sized businesses.
On top of that, because it has so many advanced features, there might be a big learning curve for new users, especially those who aren’t familiar with Salesforce.
Datto Autotask PSA
Key Features of Datto Autotask PSA
Datto Autotask PSA has everything you need for a fully integrated service desk, including contracts and SLAs management, project tracking, CRM capabilities, and robust time and billing features.
This major cloud based professional services automation software also has a business intelligence engine, which provides advanced analytics and reporting.
This makes it easier to gain insights into all aspects of business operations.
Its unified PSA and RMM (remote monitoring and management) integration is a big deal for IT service providers.
Yup, the integration means a seamless IT management experience from a single platform.
Pros of Datto Autotask PSA
One of the best things about Autotask PSA is how reliable it is. It’s had 99.99% uptime for the last 10 years, which is pretty impressive.
It also works with over 170 industry-leading solutions, so it’s really versatile.
You can customise the software to suit your business, which makes it a great choice for companies of all sizes.
Cons of Datto Autotask PSA
Datto Autotask PSA has a lot going for it, but it does have a pretty steep learning curve. And the configuration process is pretty complex.
The user interface is a bit outdated and it can be tricky to get to grips with the platform if you’re new to it.
Accelo
Key Features of Accelo
Accelo is a cloud based professional services automation software to helps you manage projects, track time, invoice clients and manage your customer relationships.
The software also gives you real-time visibility into project progress, resource allocation and financials.
This makes it easier for businesses to keep on top of project timelines and budgets.
Pros of Accelo
Accelo is known for its simple, user-friendly interface.
That’s why Accelo is a top pick for smaller businesses or teams that just need a simple PSA solution.
It’s got some great automation features that mean you don’t have to do as much manual data entry, which makes things more efficient and accurate.
The software gives businesses real-time insights into project performance, which helps them make informed decisions.
Cons of Accelo
Accelo is pretty easy to use, but it might not have all the advanced features and customisation options that larger companies need.
Some users have said that it has some limitations when it comes to reporting and integrations.
This could be a downside for businesses that need more in-depth analysis or to connect seamlessly with other software.
BigTime
Key Features of BigTime
BigTime is a cloud-based PSA software made for project management and interval tracking.
BigTime works great with accounting software, which makes it easy to create invoices and keep track of your finances.
This integration capability makes sure your financial records are totally accurate and reduces the chance of human error when entering data.
On top of all that, BigTime has great time-tracking tools that help you keep track of work hours, so you can be sure you’re recording all the hours you’re actually billing.
Pros of BigTime
The best thing about BigTime is you can consolidate project management and time-tracking into one platform, which makes workflows a lot simpler for professional services firms.
The fact it links up with your accounting software means you can cut down on admin, which makes everything more efficient.
In addition, the customer support team has been praised for being quick to help whenever you need it.
This makes BigTime a great choice for small to mid-sized businesses that need a full project management solution.
Cons of BigTime
While BigTime is a fantastic cloud based professional services automation software, it does have a few shortcomings.
The layout can be a bit confusing for people new to the software, which makes the onboarding process a little tricky.
Also, its reporting options and mobile app functionality are a bit limited, which might be a concern for businesses that rely heavily on in-depth analytics and mobile accessibility.
Wrike
Key Features of Wrike
Wrike has a really intuitive, user-friendly interface with lots of customisable features.
The software is known for its solid task management and team collaboration tools, which help teams stay on top of their projects and communicate effectively.
There are also lots of training resources available to help users get to grips with the software and get the most out of it.
Pros of Wrike
Wrike’s got a really user-friendly interface, which makes it a breeze for teams to get to grips with and use the software regularly.
It’s designed to be quick and easy to use, and you can also make it your own with a range of customisation options.
On top of that, Wrike has a free entry-level option, which makes it a great choice for businesses with limited budgets.
Cons of Wrike
Wrike’s flexibility and customisability are great for businesses with complex workflows, but they can also be a bit overwhelming for smaller teams or those working on simpler projects.
There are so many features and options that it can be tricky to get started and might even lead to confusion or inefficiency.
In addition, some of the more advanced features might need some extra training or configuration, which can add to the initial setup time.
Replicon
Key Features of Replicon
Replicon gives users the tools they need to manage their time better, so they can work smarter, not harder.
This cloud based professional services automation software also has project management features that let businesses update projects, control resources, and report time at the task level.
It works well with existing payroll and accounting systems, so you can manage project costs, client billing, and employee productivity easily.
Pros of Replicon
Replicon’s got a pretty intuitive platform and a user-friendly interface, which makes it a breeze to navigate and adapt to whatever your specific business needs are.
You can customise the software to suit your own processes, which is great for companies with unique operational needs.
This adaptability helps users save time and avoid frustration.
Plus, it’s got great integration capabilities, so businesses can link Replicon up with their existing systems without any fuss.
Cons of Replicon
Setting up and configuring Replicon can be a bit of a challenge, especially for businesses with complex workflows or a large number of employees.
This can mean it takes longer and is more work to get the software up and running, which might mean you miss out on the benefits it could bring.
On top of that, Replicon’s pricing can be pretty steep, especially for larger teams or organisations that use it a lot.
Clarizen
Key Features of Clarizen
Clarizen is a cloud-based project management solution with PSA capabilities that’s great for mid-sized and large enterprises.
Clarizen got some great project management features, including real-time visibility into project progress, resource allocation, and financial tracking.
Its collaboration tools make it simple for teams to communicate, share updates, and work together effectively.
The software has some pretty advanced reporting capabilities, which let businesses keep an eye on key performance indicators (KPIs), track project profitability, and flag up any potential risks.
Pros of Clarizen
The software is a big hit with businesses because it gives them real-time insights into project performance, which helps them make informed decisions.
Clarizen’s collaboration features help teams work together more effectively and make it easier to communicate, which improves overall project efficiency.
It’s also easy to adapt the platform to suit a business’s own particular operational needs, so it’s a great choice for a wide range of industries.
Cons of Clarizen
The software’s pretty complex, so you might need some extra training or support, which could add to the time and costs involved in getting it up and running.
Also, Clarizen Isn’t quite as good as other PSA solutions when it comes to integration.
Learn more: The 2024 Buyer Guide of Best Professional Services Automation Software
Comparison Table of Cloud Based Professional Services Automation Software
Software | Best For | Starting Price |
NetSuite OpenAir | Mid-market to enterprise-level businesses needing full project lifecycle management. | Contact vendor for pricing. |
Kantata (Formerly Mavenlink) | Mid-market and small businesses requiring robust project management, resource planning, and real-time reporting capabilities. | Contact vendor for pricing. |
FinancialForce PSA | Enterprise-level organisations needing comprehensive financial insights and Salesforce integration. | Contact vendor for pricing. |
Datto Autotask PSA | Managed Service Providers (MSPs) and IT service providers seeking scalability and 99.99% uptime reliability. | Contact vendor for pricing. |
Accelo | Service-based businesses requiring an all-in-one platform with project management and time tracking. | Contact vendor for pricing. |
BigTime | Small and mid-sized professional services firms needing project management and time tracking with accounting integration. | Star from $20.00 per user/month. |
Wrike | Businesses of all sizes that need a versatile project management platform with customisation and team collaboration. | Free entry-level option. |
Replicon | Enterprises of all sizes requiring end-to-end time management with extensive reporting features. | Contact vendor for pricing. |
Clarizen | Mid-sized to large enterprises that need visibility and control over complex projects. | Contact vendor for pricing. |
How to Choose the Right Cloud-Based PSA Software
Now that we’ve covered the basics, let’s explore how to choose the right cloud based professional services automation software for your business.
Scalability and Integration
As the Datto Autotask PSA guide says, you should look for a PSA that works with all your key business apps, like accounting, CRM and payroll software.
This means you get a complete solution you can rely on as your business grows.
Autotask PSA, for instance, works with over 170 industry-leading solutions, so you get a smooth, hassle-free experience and fewer admin headaches.
Real-Time Analytics and Reporting
It’s impossible to overstate the importance of real-time insights. The Projectworks Buyers Guide says the PSA software should let you see real-time updates on project margins, how resources are being used, and profitability.
This transparency lets CFOs keep an eye on cash flow risks and make accurate revenue forecasts, so decision-makers have the info they need to stay profitable.
Ease of Use and User Adoption
The best cloud based professional services automation software is the one you can use easily and intuitively.
Tools like Autotask PSA and Projectworks are known for their user-friendly interfaces, which makes it easier for employees to get to grips with and use the software on a daily basis.
This is especially important in industry, where making the most of your workforce is a big factor in making a profit across all industries.
Security and Data Protection
Security is still the most important thing, especially when it comes to cloud-based solutions.
The Autotask PSA Guide suggests choosing PSAs with 256-bit TLS 1.2 encryption and data centres that are distributed around the globe and backed up in multiple locations.
With so many countries having strict data protection rules at the moment, this feature is a must.
Return on Investment (ROI)
The Projectworks Buyer’s Guide says you can make more money by using a PSA software solution.
PSA offers better visibility of projects, helps you cut unnecessary costs and increases billable hours.
A good PSA system could save you a lot of time on admin, so you can focus on more valuable activities and boost your profits.
Vendor Reputation and Support
We need to choose a vendor with a good track record for keeping their systems up and running.
For example, Autotask PSA has a great track record when it comes to uptime and offers solid customer support, which makes it a reliable choice for MSPs and ITSPs.
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 cloud based professional services automation software options and a lot at stake.
That’s why you need to consider Octobits. We’re not trying to sell a cloud 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
Each of these PSA software solutions has its own set of features, advantages and challenges.
The best way to choose the right one is to think about what your business needs, how much you can spend, and how much customisation you want.
That’s why Octobits is there for you when you need a data-driven partner to choose cloud based professional services automation software.