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Information accurate as of March 2026. Features and pricing may change. Please refer to each vendor's official website for the most current information. Comparison based on publicly available documentation and product information.
Switching is easy
Move to Magnetic without the Headache
Our onboarding team handles your data migration. Projects, contacts, and historical data move over cleanly so your team is productive from day one.
Guided data migration from ClickUp
Dedicated onboarding specialist
Team training sessions included
Up and running in weeks, not months
2 week
Average Setup
Typical setup takes 2-3 weeks, but we've had firms up and running in 1 week too.
100%
Data Migrated
We'll help you migrate data from your current systems
1:1
Onboarding Support
Dedicated onboarding teams ensure you're setup matches the way you work
Monthly
Free Training
Monthly free training for existing & new team members
Customer Stories
We’ve seen the value firsthand. Magnetic has helped us replace the noise of multiple tools with a single, reliable system that actually supports how we work.”
Billy Einkamerer
Managing Director, Exonic Solutions
Facts & Numbers
80%
Improvement in project visibility
Why professional service firms choose Magnetic
Professional services firms operate differently from internal project teams. They need to manage both project delivery and financial performance. Magnetic was built with these requirements in mind.
Margin protection
Stop over-servicing early and keep your projects profitable.
Over-servicing alerts and reporting at company, client, project, and user level.
Baseline budgets and variance tracking against actuals over time
Timesheet enforecement to ensure accurate data across the business
Real-time margin visibility from pipeline through to invoice
Profitability Focus
See how projects are performing financially before they're finished.
Real-time project margins visibilty
Revenue and capacity forecasting
Deal-level financial insights before a project begins
Profitability reporting by client, project, user and department
Deep financial controls
WIP, POs, revenue recognition and quoting tools build for professional services firms.
WIP management with 3 revenue recognition methods.
Live KPI monitoring
Purchase order management with supplier invoicing and spent tracking.
Personalised onboarding and monthly live training
All your questions, answered
What's the main difference between Magnetic and Teamwork?
Magnetic is a purpose-built PSA with CRM, project management, resource planning, time tracking, invoicing, and reporting in a single product. Teamwork is a project management tool with strong time tracking and growing financial features, but its CRM and help desk are separate paid products. For service firms that want everything connected in one system, Magnetic removes the need to buy and integrate multiple tools. Teamwork is a good fit for teams that primarily need project management and are happy to add CRM and support separately.
Does Teamwork have a built-in CRM?
No, Teamwork CRM is a separate product with its own subscription (starting at $15/user/month). It integrates with Teamwork's PM product but is not included in any PM plan. Magnetic includes a native CRM with deal pipelines, weighted forecasting, deal-level margin insights, and one-click deal-to-project conversion from the Essentials plan (£9/user/month). This means pipeline data, project data, and financial data are all connected in Magnetic without needing separate subscriptions.
How do the financial features compare?
Both tools offer project budgets, profitability reporting, and time-to-invoice flows. Where Magnetic goes deeper: WIP management with three revenue recognition methods, purchase order management with supplier invoicing, cost estimate version control with live KPIs while quoting, and baseline budget locking with ongoing variance tracking. Teamwork has good budget tracking and configurable budget notifications, but doesn't have WIP management, PO tracking, or version-controlled cost estimates. For firms that need accounting-grade financial controls, Magnetic covers more ground.
How do the pricing models compare?
Magnetic's Essentials plan starts at £9/user/month (min. 5 users) and includes CRM, project management, resource planning, and time tracking. The Pro plan at £17/user/month adds invoicing, expense claims, and accounting integrations. Teamwork's Deliver plan starts at $10.99/user/month (min. 3 users) with PM and time tracking. Resource scheduling requires the Grow plan at $19.99/user/month, and advanced dashboards require Scale at $54.99/user/month. CRM is an additional $15/user/month. Both offer free plans and free trials (Magnetic: 14 days, Teamwork: 30 days).
Which tool is better for resource planning?
Both tools offer resource scheduling with workload views and capacity tracking. Magnetic includes resource planning from the Essentials plan with AI-assisted resource suggestions based on skills, role, capacity, and availability. It also includes full leave management with balances, approvals, and public holidays that deduct from capacity. Teamwork's resource scheduler is only available on the Grow plan ($19.99/user) and above. It has AI smart scheduling based on role and availability, but doesn't have a formal skills database or full leave management (only unavailable time marking).
Which tool offers better customer support?
Both tools provide knowledge bases, email support, and live chat. Teamwork offers weekday support, Teamwork Academy for self-paced learning, and live webinars. Premium support with 1-hour response times is available as an upgrade. Magnetic provides personalized onboarding on all paid plans, monthly live training sessions, and a hands-on customer success approach. Both offer dedicated account managers on their highest-tier plans.
See Magnetic in Action
Join hundreds of professional services firms that have already streamlined their operations with Magnetic. Start your free 14-day trial or book a personalised demo.
Free for 14 days
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