News provided by
Nov 07, 2024, 06:00 ET
CHICAGO, Nov. 7, 2024 /PRNewswire/ — BigTime Software, a leading provider of time tracking, project management, resource management, invoicing, and payment solutions for professional services businesses, is excited to announce its acquisition of WorkRails, a company renowned for its advanced Configure, Price, Quote (CPQ) and workflow automation platform built specifically for professional services organizations. This strategic acquisition furthers BigTime’s mission to provide end-to-end solutions that empower professional services firms to streamline operations, optimize workflows, and accelerate growth.
The integration of WorkRails’ CPQ functionality with BigTime’s robust platform will offer professional services businesses a unified solution that spans project planning, resource management, financial forecasting, and sales automation. By merging these capabilities, customers will enjoy a seamless experience—from sales quoting and project initiation to resource allocation, invoicing, and payment—leading to greater efficiency and profitability.
“The addition of WorkRails’ CPQ and workflow automation tools is a natural extension of our platform. As more of our customers require streamlined processes to manage increasingly complex project lifecycles, this acquisition allows us to meet their evolving needs. WorkRails’ scalable, customer-centric solutions, combined with our existing capabilities, will help our clients achieve even greater success,” said Brian Saunders, Founder and CEO of BigTime Software. “We are excited about the possibilities that lie ahead as we integrate our teams and technologies.”
Driving Operational Efficiency and Profitability for Professional Services Firms
WorkRails’ CPQ technology fills a critical need for professional services businesses, enabling them to automate and simplify complex service configurations, apply accurate pricing, and generate quotes swiftly. This acquisition enables BigTime to deliver an all-in-one solution that improves not only project planning, resource allocation, and invoicing but also supports the entire sales cycle, allowing companies to respond faster to opportunities and close deals with greater efficiency.
Key Benefits of the Combined Solution:
- Streamlined Sales Processes: WorkRails’ CPQ functionality ensures that sales teams can configure, price, and quote services accurately, reducing the time from proposal to project start.
- Enhanced Workflow Automation: Automation across the sales and delivery cycle minimizes manual tasks and ensures operational consistency, reducing errors and increasing efficiency.
- Improved Resource and Financial Planning: Combining CPQ, project management, and financial forecasting gives businesses clear visibility into project margins, resources, and timelines—ensuring projects are delivered on time and within budget.
- Increased Profitability: The integration of sales automation with project execution capabilities maximizes operational efficiency, helping businesses prevent cost overruns and improve profitability.
“We are thrilled to join BigTime and bring our CPQ and automation solutions to an even wider audience,” said Steven Schneider, CEO of WorkRails. “Together, we’re building a powerful solution that addresses the end-to-end needs of professional services firms—from the first interaction with a client to the final project hand-off. By combining forces, we’re empowering our clients to improve their speed to market and their bottom line. We look forward to achieving great things as part of BigTime.”
A Commitment to Innovation and Growth
This acquisition is part of BigTime’s broader strategy of providing innovative, scalable solutions tailored to the needs of mid-market professional services organizations. Following a $100M growth investment in January 2022 and the acquisitions of ProjectorPSA in 2022 and Primetric in 2023, BigTime remains focused on delivering value to customers through strategic expansions and product enhancements.
The terms of the acquisition, including pricing and structure, remain confidential. However, WorkRails’ leadership team will continue with the company in strategic roles, contributing to the integration of the two businesses and further developing the combined solution.
Kirkland & Ellis LLP served as legal counsel to BigTime. Needham & Company served as financial advisor and Gunderson Dettmer acted as legal counsel to WorkRails.
About BigTime Software
BigTime Software empowers professional services organizations with tools that eliminate the guesswork in resource utilization, capacity planning, and project profitability. Our award-winning Professional Services Automation software supports project planning, budgeting, time and expense tracking, resource management, invoicing, and reporting, allowing firms to manage their most critical asset: time. With thousands of customers worldwide, BigTime helps accountants, architects, engineers, IT services firms, and consultants streamline operations and effectively plan for tomorrow. Learn more at bigtime.net.
About WorkRails
WorkRails provides an intuitive platform for Configure, Price, Quote (CPQ) and workflow automation, helping professional services firms simplify complex service configurations, streamline pricing, and accelerate the sales cycle. Trusted by top firms, WorkRails empowers teams to generate accurate quotes faster, automate key workflows, and drive business growth. Visit workrails.com for more information.
Contact Information:
Tina Hsiao
BigTime Software
+1-312-346-4646
SOURCE BigTime Software, Inc.