How Wiss Leverages Vantagepoint for Strategic Growth

Wiss is an award-winning accounting, advisory and wealth management firm that helps businesses and individuals achieve their financial goals. Their expertise includes accounting and assurance, advisory, tax, data and technology advisory, and wealth management services. As Wiss matured, the company faced challenges common to growing organizations: a complex array of disconnected systems, including separate tools for general ledger, time, and billing that slowed down data entry and reporting, and an overreliance on spreadsheets. This fragmentation led to inefficiencies and a lack of visibility across business processes that limited collaboration and real-time insights. As Alex Volpi, Senior Manager within the Technology Advisory Group, explained, "The disparate systems created major inefficiencies. We had a separate general ledger system from our practice management system, which was our time and billing tool, and we had a separate CRM system." Ultimately, Wiss needed an integrated ERP solution to align its project management, finance, and human resources processes to help drive efficiency and more informed decision-making.

ERP Selection Criteria

After considering multiple vendors, Wiss decided Deltek Vantagepoint, a project-based ERP system, was the most appropriate solution for their business. Deltek Vantagepoint helps project-based firms integrate CRM, resource management, project management, financial management, and payroll systems to drive efficiency and make more informed business decisions. Several factors drove the decision to choose Deltek Vantagepoint:

• Centralization: Deltek Vantagepoint offered a unified platform that integrated various functions, from client acquisition to billing. Alex Volpi noted, "Deltek came out on top due to the centralization of many functions within one tool that could give us a unified view of everything from engagement pursuits to delivering our projects, generating invoices and reporting, from one application."
• Familiarity and Industry Presence: Wiss had prior exposure to Deltek through client engagements in the architectural, engineering and professional services sectors, making it a trusted choice. "We have a large client presence in the architecture and engineering space, and we encounter Deltek from an advisory assurance and even tax perspective. We knew it performed well for project-based firms,” said Alex.
• Cost-Effectiveness: Deltek Vantagepoint was also competitively priced compared to other ERP solutions. "Cost was a favorable component compared to some of the other vendors that were evaluated," added Alex Volpi.

Benefits of Vantagepoint Realized

Deltek Vantagepoint has helped Wiss to more efficiently manage their projects, clients, and finances, while simultaneously providing reporting and visibility into company and project profitability. Wiss uses the system for engagements, contract management, billing, reporting, and financial management. Lauren Lewin, Director of Business Transformation for Wiss, highlighted the comprehensive use of the system: "Our finance team is doing all of their budgeting and reporting there, tracking the receivables, the payables, and the timekeeping. We're really using it for everything."

With Deltek Vantagepoint in place, Wiss has seen improvements throughout the business including:

• Integrated Financials, Project Management, and Resource Planning
  Vantagepoint's unified platform replaced Wiss's siloed systems, offering an end-to-end solution for tracking projects from start to finish. By integrating project planning, resource allocation, and financial management, Vantagepoint provided Wiss with a centralized source of truth that streamlined workflow and data entry.
• Enhance Reporting Accuracy and Business Insights
  Vantagepoint's powerful reporting capabilities enabled Wiss to move beyond static spreadsheets and gain access to real-time insights. The firm was able to analyze key performance indicators more effectively, empowering leaders to make data-driven decisions with confidence. “With real-time access to both operational and financial data, Wiss employees have gained a powerful tool for collaboration and decision-making”, noted Alex Volpi.
• Reduced Data Entry & Improved Data Quality
  Wiss experienced significant reductions in time spent on administrative tasks. Automated workflows in Vantagepoint streamlined data entry, minimized errors, and freed up valuable time for strategic initiatives, allowing the team to focus on delivering value to clients. The centralization of data in Deltek Vantagepoint has significantly improved data quality. Wiss now has a single source of truth, enabling better decision-making and insights. Lauren Lewin mentioned, "It's a lot easier now to see where we need to go back and build out that information."
• Enhanced Pipeline Management
  With Deltek Vantagepoint, Wiss has streamlined its sales pipeline, ensuring that every project is tied to an engagement, client, and contact. This has led to improved cross-selling opportunities and better revenue tracking. "It's really enabled a revenue initiative because of how controlled we can make the data entry," said Lauren Lewin.
• Faster Financial Close & Billing Efficiency
  The time required to close financial books has reduced from 20 days to just 7 days, thanks to the efficiencies gained from Deltek Vantagepoint. Jacki Genitempo, Finance Director, shared, "It used to take about 20 days to close. On average we're down to about seven days now." In addition, Wiss transitioned from paper-based invoicing to electronic invoicing, which will improve the speed and accuracy of their billing process.
• Better Risk Management
  Deltek Vantagepoint has enhanced Wiss's ability to manage compliance and risk. The system ensures that all projects undergo thorough review and approval processes before initiation. Lauren Lewin explained, "Our compliance officer is seeing everything before they can even get a code in Deltek, so it's helping us make sure that we've done our background checks and we are taking on projects that meet our risk profiles."

Looking Forward: A Path to Growth

Wiss has been able to extend the power of Vantagepoint by using the Deltek marketplace to help find services from the global partner network. Lauren explained, "We've used the Deltek marketplace to find vendors that meet our needs. It's good to have options based on tried-and-true vendors Deltek has vetted." As Wiss continues to expand its business, Deltek Vantagepoint remains a cornerstone of its operational strategy. The centralized platform has reduced operational bottlenecks, improved data quality, and positioned Wiss for future growth and success. But don't just take our word for it, see what Wiss had to say about Deltek Vantagepoint here: The Power of Deltek: Transforming Business Operations with Wiss.