Abtrac

Abtrac, a leading software solutions provider, specializes in time management, project management, and invoicing for professional services firms. Founded in 1990, the company has developed a comprehensive software suite that streamlines projects, timesheets, disbursements, billing, and reporting for businesses in industries such as engineering, architecture, surveying, and environmental consulting.

Initially established as a time management consultancy in New Zealand by Edward O’Leary, Abtrac identified the need for specialized software and launched its first version in 1992. Rapid growth ensued, and the company expanded to Australia in 2000. Abtrac’s success is attributed to its focus on understanding professional services firms’ needs and providing tailored solutions.

Abtrac has primarily been self-funded, giving it the flexibility to invest in product enhancements and explore new opportunities without external funding pressures. The company’s first acquisition occurred in 2010 when it purchased Australian-based software firm FeeSmart. This acquisition enabled Abtrac to incorporate FeeSmart’s invoicing and project management tools into its product suite.

In 2014, Abtrac launched its cloud-based version, AbtracOnline, providing clients with increased flexibility, accessibility, and security. The company also formed a strategic partnership with MYOB, a leading business management solutions provider in Australia and New Zealand, in 2016. This alliance allowed Abtrac to integrate its software with MYOB’s accounting and payroll solutions, offering an end-to-end business management platform.

Abtrac has received numerous industry awards, including the MYOB Developer Partner of the Year in 2018 and 2019. These accolades highlight the company’s dedication to innovation, excellence, and client satisfaction. The company has not been acquired by another organization, allowing it to maintain its independence and focus on providing tailored solutions.

Abtrac’s customer-centric approach has been crucial in refining its product offering, ensuring its software remains relevant and valuable. The company actively engages with clients through webinars, workshops, and training sessions to gather insights and feedback. Abtrac has also expanded into new markets, catering to diverse professional services firms in industries such as legal, consulting, and creative agencies.

The company is exploring opportunities in artificial intelligence (AI) and machine learning to enhance its software solutions. These advanced technologies have the potential to revolutionize time, resource, and project management for professional services firms. Abtrac also prioritizes data security and privacy, implementing robust measures to protect client data and comply with industry standards.

In summary, Abtrac’s history is marked by innovation, client satisfaction, and continuous improvement. Its strategic acquisitions, partnerships, and dedication to research and development have positioned Abtrac as a market leader in time management, project management, and invoicing software solutions for professional services firms.