QuickBooks® is among the most commonly utilized accounting systems and an excellent choice for small businesses looking for basic accounting capabilities. It's inexpensive, easy-to-implement and designed to help with your small business needs. However, where this solution and other homegrown accounting solutions like it can fall short is in the lack of project-level insight, security and compliance, and support for a distributed workforce. These features are especially important in the eyes of government agencies, such as the Defense Contract Audit Agency (DCAA), where there are so many complexities associated with doing business with the government.
As your small government contracting business grows and develops into a more complex organization, so should your accounting solution. Unfortunately, more often than not, when businesses experience growth – whether from revenue, headcount or diversifying their contracting business – they end up outgrowing their accounting solutions, like QuickBooks.
When this happens, small businesses don't have time to learn the latest technology or rely on software that isn’t designed to scale. For these reasons and many others, small government contractors should consider accounting solutions that offer innovative features – like intuitive accounting and timesheet interfaces, integrated customer invoicing and robust project management – to help streamline business processes, reduce IT costs and deliver quick value.
Don’t let your small government contracting business fall behind! Consider these four reasons why now's the perfect time to move from QuickBooks to an all-in-one customizable solution like Deltek Costpoint:
"As our company grows and becomes more sophisticated, the systems we use must do the same. Deltek Costpoint has the level of sophistication that can grow and scale with our business. It also has the proper controls, processes and integration capabilities in place that are necessary for government contractors."
– Aaron Solar, President and Founder, Adaptic LLC
#1: Built-In Financial Compliance
For nearly 40 years, Deltek has provided government contractors robust financial and accounting solutions. We understand what oversight agencies like the DCAA are seeking with an audit and have an easily accessible repository of resources to address each audit need. From securing a contracting opportunity to final delivery, Deltek has made compliance a priority for every stage of the project lifecycle.
With more than 1,600 small business Costpoint customers, this purpose-built solution is known and trusted across the industry by auditors like PwC and the DCAA. Which is why it’s no surprise that smaller government contractors who’ve moved to Deltek from legacy systems like QuickBooks find they are audited much less, after implementing a solution with built-in compliance.
With Costpoint, you can spend less time and resources preparing for audits, and focus on what matters – running your business and successfully delivering on government contracts.
#2: Cloud & Mobile Access
For contractors who want to take advantage of the security, scalability and accessibility of a cloud-based ERP solution, Deltek has two Costpoint Cloud offerings that meet the unique cybersecurity needs of government contractors. First, Costpoint GovCon Cloud (GCC), which offers support for handling Federal Contract Information (FCI) and most Controlled Unclassified Information (CUI) that aligns with NIST SP 800-171. Second, our Costpoint GovCon Cloud Moderate (GCCM) that includes support for International Traffic in Arms Regulation (ITAR) and FedRAMP Moderate equivalent controls. Additionally, Deltek has a project underway to achieve Cybersecurity Maturity Model Certification (CMMC) level 2 for its GCCM offering.
Costpoint in the cloud also allows dispersed teams the flexibility to access their project-management solution – anytime, anywhere. Mobile Expense gives government contractors a better way to manage their time and expense needs through a fully mobile, scalable and compliant solution that automates processes and workflows to create greater operational efficiency. It also allows busy contractors on the go, the ability to capture expenses and submit reports wherever and whenever they may need to.
Overall, Costpoint offers a better total cost of ownership than other small business accounting solutions – that gives you secure access to data no matter where you are while maintaining cybersecurity compliance.
#3: Industry-Leading Technology
Innovation has always been a focus for Deltek, especially as it relates to our industry-leading solutions. Incorporating new and emerging technologies into products like Costpoint allows us to enhance our products' value, optimize the user experience and provide trusted on premise and cloud-based solutions that support your business across the entire project lifecycle.
With the latest Costpoint release, we’ve incorporated more purposeful innovation and increased intelligence to provide government contractors of all sizes an easier, more efficient way to manage and successfully deliver on government contracts. In addition, Deltek’s out-of-the box, low-cost, consulting services allow small business government contractors to go-live quickly and efficiently. This means less time worrying about technology and more time running your business.
#4: End-to-End Visibility
A clear differentiator that sets Costpoint apart from other accounting solutions, like QuickBooks, is its project-level reporting and end-to-end visibility. Allowing government contractors to streamline the management of their projects, people and finances for greater visibility into project-specific and company performance to make better-informed decisions in real time.
With Costpoint, every single transaction is tied to an account, organization and project so you know exactly how your business is performing. This innovative solution leverages predictive analytics and artificial intelligence capabilities to identify projects at risk, as well as utilizes visual dashboards and industry-specific reports to deliver critical project insight. Additionally, Costpoint's out of the box capabilities also support a number of other small business processes including Source to Pay and CRM.
As a result, Costpoint provides a complete view of your company in a single place to help boost your small business’s efficiency, productivity and profitability. With an award-winning solution like Costpoint, you can be confident you are making more informed decisions to drive your business forward.
Switching Your Business to Deltek Costpoint
Join Us For a Webinar with Aaron Solar, President and Founder of Adaptic, LLC
Preparing for Small Business Success
As a small business government contractor, it’s important to invest now and get ahead of growth and compliance requirements, before it’s too late. Deltek Costpoint can provide you the next phase of back-office management and visibility for your government business. Learn more about our small business software solutions, built to adapt and evolve with growing companies.
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