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powersuite_monitor is a Powersuite process that handles the background tasks such as checking for updates, running background scans, checking for scheduled tasks, and displaying information about your system.
powersuite_service is a Powersuite service that is specific to Windows XP only. It is responsible for enabling the Windows System Restore points detection and deletion on Windows XP. It enables Powersuite to detect and remove any old Windows backups such as the old Windows restore points.