AI-Powered Solutions for Better Decision Making in Government Contracting

Generative artificial intelligence (GenAI) is transforming the government contracting (GovCon) industry and revolutionizing the role enterprise resource planning (ERP) solutions play. From enhanced data analysis to improved decision-making, generative AI has created a paradigm shift, enabling ERP solutions to automate routine tasks and generate valuable insights and predictions.  

This highly regulated industry relies heavily on efficient and effective management of contracts, finances and resources, which is why ERP solutions play a critical role in streamlining processes. Now, with the advent of generative AI, the capabilities and potential of ERP solutions in this industry have expanded to a whole new level. 

“It’s an exciting time in the market and in the world for this technology. AI has the potential to have the same magnitude of impact that the internet had many years ago,” shared Deltek’s SVP of Information Solutions, Kevin Plexico, in this recent GovCon Wire article. 

With the new generative AI capabilities announced at Deltek ProjectCon 2023, we aim to empower our customers with smarter, more data-driven insights and decision-making tools. These generative AI tools are expected to transform the GovCon industry by providing predictive analytics, augmenting human performance and modeling future outcomes. 

How Deltek Is Leveraging Artificial Intelligence 

Deltek is committed to its purposeful innovation efforts and helping government contractors address the biggest challenges impacting business development, risk management, financial compliance, manufacturing, contract management and procurement, human capital management and IT professionals. 

With AI technology at the forefront of Deltek’s offerings, we are enabling Deltek Project Nation with valuable insights and enhanced productivity. Here are just a few ways we have incorporated generative AI and traditional AI into our industry-leading solutions:

Generate Real-Time Client Briefings With Smart Summaries

Deltek’s market intelligence solution, GovWin IQ, has taken a significant step forward by implementing generative AI into federal Agency Profiles and Contract Awards, in addition to SLED Government Profiles with Smart Summaries. This latest innovation transforms what was once a labor-intensive and time-consuming process into a seamless, real-time experience. Smart Summaries harness generative AI technology to provide clients with clear, concise executive briefings, eliminating the need for hours of manual research and data collection. 

Smart Summaries are expanding into other data sets in GovWin, including Task Orders, Government Contacts and Opportunities to make understanding the background of key go-to-market elements consumable and shareable.  

 Read More About Smart Summaries >>

Assess Government Opportunities With Smart Fit Score

GovWin IQ has extended its Smart Fit scores to all opportunity and contract data, revolutionizing how clients assess opportunities and quickly identify best-fit leads to pursue. With AI-driven Smart Fit scores, leaders can make informed pursuit decisions more efficiently, ultimately saving time and resources with suggestions based on historical contract awards. With visibility into competitors’ or potential teaming partner’s scores, contractors can also easily see who they might be going up against or who might be a strategic fit for their growth goals.

 Read More About Smart Fit Score  >>

 

Make Informed Decisions With Business Intelligence

When AI is combined with Deltek’s Costpoint Business Intelligence (BI) solutions, government contractors can quickly collect, organize and analyze real-time data to inform their business decisions and better predict the success of a project. Deltek Costpoint BI uses AI to analyze data and generate a narrative around trends that can be used to support strategic planning or identify when a project is at risk or over budget—allowing you to course-correct. And with our AI Assistant in Deltek Costpoint BI, users can simply ask a question and receive a data-informed response quickly. 

In the coming months, we will be introducing our new Deltek Costpoint Digital Assistant, which will allow users to be more productive and efficient. Powered by GenAI, Deltek’s digital assistant will permit users to ask questions regarding their contracts or projects and even carry out simple tasks like emailing a project manager with overdue tasks.  

Read More About Business Intelligence >>

 

Deltek is leveraging generative AI to improve efficiency, accuracy and decision-making capabilities in the GovCon industry. Deltek’s generative AI tools are designed to help government contractors address the biggest challenges impacting their businesses and provide them with smarter, more data-driven insights and decision-making tools.