The Human Body and Costpoint via Deltek Now: More Similar Than You Think
By Marc Holliday, Director, Product Marketing, Deltek
While some people view their body as a temple, we more technically oriented types might see our bodies as scalable infrastructure. Let me explain: When the user is a mere start-up (a.k.a., infant), the body performs basic functions—breathing, eating and sleeping being the highest priorities. As the user matures, the body adds functionalities and becomes more sophisticated and efficient—crawling, then toddling along, then walking and running. Soon enough, cognitive and communications functionalities come into play, and we start to utter smart sentences and sometimes even inspirational paragraphs.
The Deltek Now Philosophy
Deltek Now was born from our philosophy that, like a human body, consultancies in their infancy have specific needs. For example, having the scalable infrastructure of an industry-leading, integrated enterprise resource planning (ERP) solution helps ease their growing pains, letting them evolve at their own pace and with a price they can afford. The resulting increases in operational efficiency and compliance provide an edge over competitors.
Understanding these needs, we set out to provide small to medium businesses (SMBs) with the same Costpoint solution that larger companies receive, configured for a small business: Costpoint Foundations. Designed to scale up with the organization’s needs, it’s the only ERP a company will ever need. We nurture growth by adding functionalities as companies win more contracts with complex reporting requirements. The cloud-based solution requires no capital expenditures for hardware and minimal information technology (IT) staff, since upgrades, maintenance and disaster recovery are managed by Deltek. All they have to do is add licenses.
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The Wrong Way
Many small contractors start out with a product like QuickBooks®, but eventually realize that it can’t accommodate government reporting requirements or business planning needs. At that point, most companies conduct an evaluation of ERP systems, which are more all-inclusive than accounting systems in that they include contract, talent and project management.
Of course, evaluations are disruptive, time consuming and expensive, so starting out with a system that eliminates the need for future evaluation or re-implementation, that’s the ideal solution.
The Right Way
Right out of the box, Costpoint provides quick time-to-value with a project-based ERP structure that leads to success in government contracting. Some of its most powerful features are:
- Multi-level project structure (WBS)
- Automated indirect cost allocation (cost pools) and automated incurred cost submission schedules
- Regulation-compliant time and expense collection and reporting
- A large library of standard reports, multiple dashboards and the ability to create custom reports and dashboards
- For companies operating several disparate solutions, the ability to consolidate and integrate them into one solution. This increases productivity and reduces risk because the manual effort of managing those solutions is greatly reduced
- The ability to analyze all revenue and profit/loss data accurately and in real time.
In recent years small companies perceived Costpoint as beyond their needs—and their pocketbook. They thought, “If [large contractor] uses Costpoint, it can’t possibly be right for us.” Until Deltek Now, most companies bought another product and purchased Costpoint when they got big enough to warrant it. With Deltek Now, however, a 25-person organization can gain improved capability with an affordable fixed-price implementation, unlimited free online training led by Deltek instructors, and annual licenses on a flexible payment plan, enabling the most effective cash flow for that particular business.
Another huge advantage SMBs realize is that because most large government contractors use Costpoint, they see SMBs that also use Costpoint in a more positive light compared to those that do not. Integrating processes with a primes’ operation is easy and efficient, as is delivering reports with parallel data. All of this makes them better partners to the primes. With billions of dollars in small business set asides being attached to prime contracts each year, why not equip your company to take advantage of the growing number of lucrative government contracts?
Small and medium businesses can also rest assured that Costpoint is the solution most trusted by financial professionals and government auditors, having passed more Defense Contract Audit Agency (DCAA) audits than any other solution. Contracting officers feel comfortable with reports generated by Costpoint.
We are a growing government contracting firm, but we always thought Costpoint was just for the big guys. After meeting with Deltek, we discovered that Costpoint Foundations is obtainable for firms like us and will help us move the needle a considerable amount.
-Yomi Jones, director of finance for C3 SYSTEMS
We must be doing something right. More small businesses use Costpoint than any other project-based ERP solution. Small and medium businesses make up 40% of Costpoint customers, and since officially launching Deltek Now in the summer of 2018, well over 100 SMBs have signed up. Because SMBs are the back bone of the government contracting community, a community that Deltek wants to serve and support, we understand their importance, as well as how essential they are to our own future as a solution provider.
No matter what stage of growth your company is in, think of Deltek Now like a human body with a scalable infrastructure that adds functionalities as your company meets each stage of maturity. You won’t just gain an ERP solution, you’ll also gain Deltek as a business partner who will be with you for every step in your adventure.
- Business Development
- Business Infrastructure
- Contract Management
- Cost Management
- Costs and Expenses
- Deltek Clarity
- Deltek Costpoint
- Deltek Insight
- Earned Value Management
- Enterprise Resource Planning
- Financial Management
- Firm Management
- Government Contracting
- Government Contracting
- Human Capital Management
- KPIs and Analytics
- Project and Portfolio Management
- Project Management
- Project Manufacturing
- Resource Planning
- Risk Analysis
- Scheduling and Planning
- Small Business
- Talent Management
- Time and Expense Management