BigTime Software has acquired Primetric, a resource management and financial planning software vendor. Primetric was founded in Poland and has over 12,000 customer users in 12 countries worldwide. Founded in 2016, its solutions target software and IT services companies. Its solutions include Resource Planning, Resource Scheduling, Project and Portfolio Management, Project Accounting, Cost & Profit Management, Timesheets & Time Tracking, and Business Intelligence.
The acquisition also brings a European-based team of around 30 people (LinkedIn) to BigTime and comes a year after it acquired ProjectorPSA last year. The acquisition is the second the company has made after the $100 million investment by Vista Equity. Terms of the deal were not disclosed.
Brian Saunders, Founder and CEO of BigTime Software, commented, “With 20 years of experience and nearly 3,000 customers using our platform, BigTime has learned a lot about what professional services organizations need to run and grow their businesses.
“Our customers are increasingly looking for stronger and better-detailed resource planning as they take on new work and expand their teams, particularly in a business environment that remains unpredictable. The robust operating data our platform provides, is a natural foundation for a solution like Primetric. Their scalable architecture and focus on delivering an easy-to-use, rapid time-to-value solution is an ideal match for what our customers need. Most importantly, we are impressed by the innovative team and culture they have built. I am incredibly excited to see what we can do for our customers together as one company.”
The founders of Primetric, Jędrzej Anisiewicz (CTO), Arek Terpiłowski (Head of Growth), and Zbigniew Wantula (Managing Partner), are all staying with the new organisation. They will be placed in strategic roles moving forward. None have updated their LinkedIn profiles as of writing. Primetric also brings a long list of additional customers, including HSD, Monterail, TestArmy, CAPCO, and SovTech.
Powering up the professional services platform
Combining the technologies of BigTime with Primetric could push, in time, it towards the leadership quadrant of the G2 Resource Management grid. Both companies have a presence, and it will be interesting to see whether they combine the entries as Kantata has done.
BigTime now has a comprehensive suite of solutions for professional services businesses. However, there still seems to be work done. Primetric does not yet have an integration with either BigTime or ProjectorPSA. It currently lists integrations to Redmine, Jira and Teamwork project management solutions. It also has integrations to Time Tracking and HRM solutions; surprisingly, no ERP solutions are listed, though it does provide APIs, and we expect an announcement about the integration soon.
Once complete, professional services organisations will have access to a single source of truth for their data. Importantly, BigTime will add a powerful resource management capability to its platform, an area that larger rivals have focused development on recently.
A Forrester Opportunity Snapshot report, commissioned by rival Kantata and Salesforce, revealed that 59% of decision-makers in PSOs indicated that the Inability to predict project resource needs in advance was either “Very Challenging” or “Extremely Challenging”. Once the dust has settled on the acquisition and integration of technology and people, BigTime expects to address this challenge.
BigTime has identified four key benefits of the combined solution:
- Optimizing time and skills of resources: Effective resource planning ensures the right resources are allocated to the right projects at the right time, resulting in successful project execution, higher employee engagement, and reduced risk of burnout.
- Minimizing project and financial risk: Finance Managers with access to real-time project data can create accurate financial forecasts, and Operations Managers can ensure project completion is on time and within budget.
- Improving profitability: Efficient resource management leads to more streamlined project execution, preventing cost overruns and delays, ultimately maximizing profitability.
- Building a culture of transparency: Clear visibility into key resources and their skills, allocation, and utilization equips teams to operate efficiently and deliver exceptional value to clients.
Enterprise Times: What does this mean?
This is a very significant acquisition by BigTime. While Primetric is not large in terms of people, what it offers in terms of technology and geographic footprint to BigTime is huge. Arguably the acquisition and merger with ProjectorPSA increased the size of BigTime by merging with a rival. While Primetric has customers in the US, it importantly gives BigTime a presence in Europe, and an experienced Sales Team, that has helped expand the footprint of BigTime rapidly.
While larger rivals mainly ignored the acquisition of ProjectorPSA, this move will certainly make them sit up and take more notice. It makes BigTime a truly international company. It will be interesting to hear about its ambitions for further international growth. Fundamentally, this acquisition delivers all three things organisations want, market growth, geographic expansion and more technology.
