BigTime + Primetric will accelerate resource management benefits for the professional services industry with the most comprehensive yet intuitive solution in the market.
In the fast-paced world of professional services, efficiently managing resources is vital to ensure sustainable growth and success. Effective resource management involves optimizing the allocation of talent, skills, and assets to meet project demands. This is a critical function that professional services businesses continue to struggle with.
According to Forrester, nearly 60% of professional services businesses surveyed find predicting project resource needs in advance as "very challenging" and "extremely challenging."
The need for this has never been more apparent (and never more difficult) than today as the US economy struggles to course-correct amid the churning waters of high inflation, job turnover, and global socioeconomic uncertainty. That is why we here at BigTime are excited to announce that we have made another strategic investment to help our customers achieve their desired levels of transparency, operational efficiency, and profitable growth by acquiring Primetric, a provider of resource management and financial planning software.
Why BigTime and Primetric are a natural match
The acquisition of Primetric represents an extension of the BigTime platform’s industry-leading features in time tracking, project management, invoicing, and payments. The combined capabilities will allow professional services businesses to achieve the financial visibility and operational agility that are the underpinnings of financial strength:
- Both Primetric and BigTime have been focused on providing solutions to mid-market professional services firms that make it easier for them to run their business.
- Professional services businesses will now be able to plan and build their project plans from a single source of truth for project data - from scoping and planning resource allocation all the way through execution, resource utilization, invoicing, and payment.
- CFOs and Finance Managers can make better decisions with more accurate financial forecasts, while Operations Officers and Project Managers can create purpose-built project plans that accelerate the delivery of value to their clients.
These combined capabilities broaden the functional capacity of the BigTime platform, providing new ways to solve more complex workflows from a single solution provider.
What to expect from BigTime with Primetric
This move marks a significant step forward in BigTime's commitment to meeting the growing list of mission-critical needs for Finance and Operations professionals within the professional services sector. We hope to enable professional services businesses with the resource visibility they need to go beyond basic operational improvements to drive value to their firms, employees, and customers by:
- Optimizing time and skills of resources: Effective resource planning ensures that the right resources are allocated to the right projects at the right time, resulting in successful (and profitable) project execution with higher employee engagement, all while minimizing the risk of employee burnout.
- Minimizing project and financial risk: With Primetric’s capabilities, when resource managers build project plans, that information is automatically available to Finance Managers, facilitating accurate financial forecasts. This key connection ensures that teams match the right resources to the needs of the client to complete projects on time and within budget.
- Maximizing profits: Effective resource management drives more efficient execution of project plans, avoiding cost overruns and unnecessary delays.
Building a culture of transparency - When a business has clear visibility into key resources and their skills, allocation, and utilization, teams operate more efficiently and effectively to deliver value to their clients.
As businesses continue to face increased competition and dynamic market demands, resource management will remain a cornerstone for sustainable growth and success. We look forward to being the partner that professional services businesses choose to build that foundation for growth.
To learn more or to share our big news view the press release here.
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About the Author
CEO and FounderSee more by Brian Saunders