Supporting Small and Mid-Sized Government Contractors with a New Costpoint Offering

June 22, 2023
Small Businesses

Whether you’re a start-up leader or a rapidly growing team, navigating the government contracting industry with a proven solution partner by your side can be a force multiplier. Deltek Costpoint is the industry leading enterprise resource planning (ERP) solution built for the way government contractors work. With the release of Deltek Costpoint 8.2, Deltek is committed to helping businesses of all sizes succeed in government contracting. That starts by ensuring you have access to best-in-class tools, technology and support.

Taking the “E” Out of ERP

The use of ERP’s to drive operational efficiencies is not just for enterprise businesses. More and more small businesses are recognizing the value of having an ERP purpose built to meet their needs. In fact, nearly half of Costpoint’s customers have under 100 employees. These businesses saw signs that they were outgrowing their accounting system as they began managing multiple government contracts and employees were struggling to keep pace due to manual back-office processes. They then made the leap from a generic accounting system, like QuickBooks®, to Deltek Costpoint because the growth trajectory for their business couldn’t be supported with a system that didn’t meet their present and future needs.

Deltek has made strides with recent releases to make Costpoint easier to adopt for small and mid-sized business; and the UX improvements that were released in Costpoint 8.2 will go a long way towards doing that. Through continued dialog with customers and partners, Deltek has honed in on the business critical functions that less complex businesses need.

With the understanding that not every business needs to start their ERP journey with the most advanced capabilities. Deltek is launching a new Costpoint software as a service (SaaS) offering as part of the 8.2 software release. This new offering is right sized for firms with less complex requirements and will provide just the essential functions they need to get up and running with Costpoint. As a business matures and requires more advanced functionality, there is a clear growth path to take advantage of additional capabilities.

With simplified applications and functions, this new offering keeps only business critical functions at the forefront, making everyday tasks easier to learn and perform. And to ensure organizations are supported through implementation and beyond, there are dedicated resources and training materials located in the Deltek Learning Zone (DLZ), developed specifically for this new offering.

Accelerate Implementations and User On-Boarding

The changes don’t stop with the User Interface (UI); by simplifying Costpoint functionality, it means the implementation process is also streamlined, which ensures businesses can recognize the value of their Costpoint solution sooner. In addition, Deltek has released a new pre-configured Quick Start database for Costpoint, which can decrease implementation time and cost. The Quick Start database was purposefully preconfigured with a setup that includes: a complete Chart of Accounts; cost pools for fringe, on/offsite, overhead and G&A; a basic organization structure; and configured financial and cash flow statements.

This will help 'jumpstart" the implementation process by providing a system set up for industry standard best practices. If you’re moving off Quickbooks, the combination of the new simplified offering, the Quick Start Database and Quickbooks conversion tools, developed by Deltek implementation Partners, will allow the implementation process to focus on just company specific requirements.

Software is just one part of the equation, when setting up your business systems for success in government contracting. Another service growing businesses can take advantage of is Deltek Pros®. This unique program connects Deltek customers with trusted accounting professionals that are experienced with your industry's project-based needs and have expert knowledge of your Deltek solution. Maximize the value of your Deltek solution by managing back-office operations faster, more accurately and within compliance with Deltek Pro Bookkeepers.


Deltek Pros

Connect with trusted accounting professionals that are experienced in your industry's project-based needs and have expert knowledge of your Deltek solution.

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Building the Best Costpoint Solution for Your Business

The next evolution of Deltek Costpoint, our industry-leading ERP, includes innovative features, enhanced functionality and a forward-thinking design that’s purpose-built for managing government contracts and staying compliant. Driven by key challenges facing the industry and a purposeful commitment to small and medium-sized businesses, the newest release helps government contractors automate the entire project lifecycle from proactively managing their contracts through closeout. Key tenants of the new Costpoint offering include:

  1. Small & Medium Business-Centric - Tailored for the way small businesses work, optimizing on-boarding and eliminating unnecessary steps.
  2. Leading-Edge Design - Intuitive interface that’s easier to use and navigate and doesn’t sacrifice compliance.
  3. Streamlined Configuration & Implementation - Speeding time to value and decreasing total cost of ownership (TCO) by getting businesses up and running sooner.
  4. Uncomplicates Compliance - Maintaining the Deltek legacy of security and compliance with an eye towards lessening the burden for small businesses.

Ready, Set, Go!

If your government contracting business is considering making the move off a generic accounting solution to meet your growth plans, Costpoint should be your first stop. By deploying a fit for purpose ERP for government contractors that will meet your needs now and in the future, you can ensure your growth isn’t stifled by an accounting system you’ve outgrown. Now is the time to make the move, delaying implementation of a new system when you’re in the midst of executing larger and more complex projects might be too late. With this new offering, less complex businesses can get up and running quickly with a system that is agile & future proof and built to tackle the unique challenges of government contracting.


Costpoint for Small and Medium Businesses

Learn how Costpoint can support your growing business.

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