By Todd Walker, VP of Product Management, Deltek
Editor’s Note: With less than a month until its official launch, we are more than excited about the release of Costpoint 8.0, and you should be too! Come join us for Virtual Deltek Insight 2020 to learn how this industry-leading solution you’ve come to trust now brings you more innovation and greater intelligence across the entire project lifecycle. Register for this complimentary, digital event taking place September 15-16, and be part of Deltek Costpoint history!
Want to learn more about how Costpoint 8 can power your project success? Then visit the Costpoint Product Community Blog and see what purposeful innovation can mean to your project-based business.
For more than 35 years, Deltek has been committed to serving Government Contractors. We have a long history of helping the entire government contracting community regardless of size and type of business, and continue to evolve and innovate to support the needs of the industry.
Today, Deltek Costpoint provides a single platform to manage the entire project lifecycle including opportunity tracking, contract management, resource planning, budgeting and forecasting, procurement, manufacturing, human capital management and business intelligence. Project accounting with government contracting compliance capability remains at the core of everything we do. And the entire suite is available in the cloud and on-premise via desktop or mobile device.
With more than 2 million users ranging from Accounting and Finance to Project Managers, we couldn’t be more thrilled to share with the entire #DeltekProjectNation what is planned for Costpoint 8. But before we unveil the eight reasons to get excited, let's take a trip down memory lane and see how far Costpoint has come.
Pushing the Boundaries of Innovation
8 Reasons to Get Excited - Costpoint 8 Coming Fall of 2020:
1. Customer Relationship Management (CRM): Costpoint 8 CRM will make it easier for business development and capture teams to manage and track activity with current and potential customers. By improving reporting and analytics, capture teams can now easily monitor the pipeline, evaluate trends, identify important gaps and make sure time is being spent wisely. Additionally, Deltek’s new mobile CRM solution will make accessing information like customer leads, contacts and activities quick and easy.
2. Professional Services Automation (PSA): Organizations no longer need a separate PSA software tool. With Costpoint, PSA is a solution that’s integrated throughout the entire project lifcycle process, designed to assist customers with project management, resource management and utilization rate management for billable staff. Deltek continues to invest in PSA to help decrease turn over, win new business and improve resource utilization.
3. Intelligent Time & Expense: Timesheets and Expense Reports are one of those things that we all have to do as employees. Deltek is here to help by bringing new features and technology that will transform that user experience, making time and expense quicker and easier than ever. With Costpoint 8 and Time & Expense, users will now have an integrated solution for travel booking and expense reporting with intelligent character recognition on a mobile device!
4. 360º Vendor Management: Vendor management with Costpoint enables government contractors to manage vendors throughout the source-to-pay process across the project lifecycle. In Costpoint 8.0, users will be able to facilitate sourcing of subcontractors from GovWin IQ, track denied party list information and improve procurement cycle times and days payment outstanding (DPO) with key enhancements to the Costpoint Supplier Portal.
5. Manufacturing: Deltek continues to invest in enhancing our Manufacturing solution. MES 2.0 was released in August and in December we will be releasing Shop Floor Time 2.0. With Costpoint 8.0, Deltek’s manufacturing customers will have additional tools to create intuitive dashboards and reports while inheriting Costpoint security and permission controls to open up more business intelligence capability to end users.
6. Artificial Intelligence (AI) in Business Intelligence (BI): Deltek is committed to helping users move up the maturity curve and becoming a “data-driven” organization. Applying AI to BI can help save time and allow users to spend more time on what is important. It will provide consistency in analysis, help prepare the data, reduce the learning curve, and eliminate human bias. By incorporating AI into Costpoint Enterprise Reporting 8, we can help users interpret the data across the project lifecycle, pointing out issues and even prescribing what to do to make more informed business decisions.
7. Cloud Solutions for Everyone: Deltek continues to evolve our Costpoint SaaS offerings to support the needs of our customers who want to move to a trusted cloud offering. Deltek will be launching an ITAR cloud offering with FedRamp Moderate and NIST 800-53 controls in late 2020, powered by Costpoint 8, Amazon Web Services GovCloud and delivered on an Oracle database. This should be exciting news for our customers with ITAR requirements.
8. Innovation: Innovative technologies such as Intelligent Character Recognition (ICR), Geo-location, Artificial Intelligence (AI), Robotic Process Automation (RPA), Progressive Web Apps (PWA) and Blockchain are all examples of how Deltek is improving the user experience and making users more productive. We will be incorporating many of these technologies into Costpoint 8.
Well there you have it! Interested in learning more about Costpoint? Be sure to subscribe to Deltek Project Nation and attend our quarterly Customer Town Hall webinars to get the latest updates on Deltek Costpoint and other project-based solutions.
Originally Published on November 19, 2019
About the Author
As Vice President of Product Management, Todd is responsible for leading the product strategy and roadmap for Deltek’s Costpoint and Human Capital Management solutions. Todd has over 20 years of experience delivering market leading, purpose built, on premises and cloud enterprise software solutions for aerospace & defense and government contracting organizations. Connect with Todd on LinkedIn.
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