BigTime Software Company Profile

Background

Overview

Founded in 2002, BigTime Software is a private equity-funded company headquartered in Chicago, Illinois, with additional offices in Phoenix, Boston, and Poland. The company specializes in providing industry-leading time tracking, billing, and project management software tailored for professional services firms. Serving over 2,700 clients, BigTime tracks more than $8 billion in billable time annually.

Mission and Vision

BigTime's mission is to empower professional services organizations by delivering efficient, user-friendly software solutions that streamline operations and enhance profitability. The company's vision is to be the leading provider of professional services automation (PSA) software, enabling firms to manage their projects, resources, and finances with greater precision and ease.

Industry Significance

Operating within the professional services automation sector, BigTime addresses the unique challenges faced by industries such as accounting, architecture and engineering, consulting, creative services, government contracting, IT services, and law firms. By offering a comprehensive suite of tools, BigTime enhances operational efficiency, project oversight, and financial management for its clients.

Key Strategic Focus

Core Objectives

• Enhancing Operational Efficiency: Streamlining time tracking, billing, and project management processes to reduce administrative overhead.

• Improving Financial Management: Providing tools for accurate invoicing, expense tracking, and financial reporting to boost profitability.

• Facilitating Resource Management: Offering solutions for effective resource allocation and utilization to optimize project outcomes.

Areas of Specialization

BigTime specializes in developing PSA software that caters to the specific needs of professional services firms, focusing on:

• Time and Expense Tracking: Enabling precise recording and monitoring of billable hours and expenses.

• Project Management: Providing tools for planning, executing, and overseeing projects to ensure timely delivery and budget adherence.

• Resource Management: Assisting in the optimal allocation and utilization of personnel and other resources.

• Invoicing and Payments: Streamlining the billing process and facilitating faster payments through integrated solutions.

Key Technologies Utilized

BigTime's platform leverages cloud-based technology to offer scalable and accessible solutions. The software integrates with various third-party applications, including QuickBooks, Sage Intacct, Jira, Salesforce, and HubSpot, enhancing its functionality and adaptability to clients' existing workflows.

Primary Markets Targeted

BigTime serves a diverse range of professional services industries, including:

• Accounting Firms

• Architecture and Engineering Firms

• Consulting Firms

• Creative Agencies

• Government Contractors

• IT Services Providers

• Law Firms

By addressing the unique requirements of these sectors, BigTime aims to enhance their operational efficiency and financial performance.

Financials and Funding

Funding History

• 2011: Secured a $2 million funding round led by Runa Capital, along with LTC Partners, Geneva Venture Investment Management, Hickory Grove, and Howell Capital.

• 2019: Closed a $14 million Series B funding round led by Wavecrest Growth Partners.

• 2022: Announced a $100 million strategic growth investment from Vista Equity Partners.

Utilization of Capital

The capital raised has been strategically utilized to:

• Product Development: Enhance and expand the software's features and capabilities.

• Market Expansion: Extend the company's reach into new markets and industries.

• Strategic Acquisitions: Acquire complementary technologies and companies to strengthen the product portfolio.

Pipeline Development

Key Developments

• 2022: Acquired Projector PSA to become a leading operating platform for professional services organizations.

• 2023: Acquired Primetric, a resource management and financial planning company, to enhance resource management and financial planning capabilities.

• 2024: Acquired WorkRails to strengthen configure-price-quote (CPQ) and workflow automation capabilities for professional services businesses.

• 2024: Integrated with Intuit Enterprise Suite to deliver streamlined project and financial management workflows for growing businesses.

• 2025: Appointed Don India as the new Chief Executive Officer.

Technological Platform and Innovation

Proprietary Technologies

BigTime's flagship product is a SaaS-based system custom-built for the professional services industry. The platform offers:

• Time and Expense Tracking: Intuitive interfaces for accurate recording of billable hours and expenses.

• Project Management: Tools for planning, executing, and monitoring projects.

• Resource Management: Features for optimal allocation and utilization of resources.

• Invoicing and Payments: Automated billing processes and integrated payment solutions.

Significant Scientific Methods

While specific scientific methodologies are not detailed, BigTime's platform incorporates advanced data analytics and reporting tools to provide actionable insights into project performance, resource utilization, and financial metrics.

Leadership Team

Current Executives

• Don India: Chief Executive Officer

• Peter Dedes: Chief Financial Officer

• Tina Hsiao: Chief Customer Officer

• Mark Johnson: Chief Product Officer

• Jake Maytas: Founder & Principal Consultant

• Melissa Ryan: Vice President of People

• Tony Wong: Senior Vice President of Engineering

• Nicole Soltes: Senior Vice President of Customer Experience

• Pete Smith: Senior Vice President of Sales

• Chris Angell: Vice President of Marketing

Leadership Changes

• 2025: Appointed Don India as the new Chief Executive Officer, succeeding Brian Saunders.

• 2023: Appointed Tina Hsiao to the Board of Directors.

Competitor Profile

Market Insights and Dynamics

The professional services automation (PSA) software market is characterized by:

• Growing Demand: Increasing need for efficient project management and resource allocation tools.

• Technological Advancements: Integration of AI and machine learning to enhance functionality.

• Competitive Landscape: Presence of multiple players offering diverse solutions tailored to various industry needs.

Competitor Analysis

Key competitors in the PSA software market include:

• Accelo: Offers a comprehensive business management platform integrating project management, time tracking, and billing.

• BQE CORE: Provides intelligent time tracking, project management, billing, and accounting solutions.

• Avaza: Delivers cloud-based PSA software with project management, collaboration, time tracking, expense management, quoting, and invoicing features.

• Scoro: Combines project management, CRM, billing, and reporting into a single platform.

• Kantata Professional Services Automation (formerly Mavenlink+ Kimble): Offers a PSA solution designed to assist professional services firms in managing resources, finances, and projects effectively.

These competitors focus on similar functionalities, emphasizing project management, time tracking, and financial management to cater to the needs of professional services firms.

Strategic Collaborations and Partnerships

BigTime has established significant collaborations to enhance its market position and expand capabilities:

• 2024: Integrated with Intuit Enterprise Suite to deliver streamlined project and financial management workflows.

• 2024: Acquired WorkRails to strengthen CPQ and workflow automation capabilities.

• 2023: Acquired Primetric to enhance resource management and financial planning capabilities.

• 2022: Acquired Projector PSA to become a leading operating platform for professional services organizations.