How Deltek Paved the Way for This Minority-Owned Small Business’s Growth and Digital Transformation
An interview with Gurpreet Singh, CEO Infotrend, Inc.
A Deltek 2021 MVP Award Winner in the Small & Medium Business category, Infotrend is a minority-owned small business technology firm, specializing in modern and innovative solutions. Infotrend implemented Deltek Costpoint as a one-stop-shop that provides complete visibility across all aspects of their business – giving them more time to focus on growing their business and successfully serving their clients.
Infotrend, Inc. is a minority-owned small business technology firm with approximately 150 information technology professionals who pave the way for government agencies to modernize, digitize and innovate. Infotrend realized their need for a comprehensive solution to support rapid growth and ease back-office tasks. So they put their trust in Deltek Costpoint, the industry-leading solution for government contractors, to improve collaboration across teams and better manage their projects, people and finances.
With Deltek Costpoint, Infotrend was able to simplify and expedite their own process for preparing invoices. As a result, the company now has a 400% reduction in time to prepare invoices, completing them within 1 week of month-end, and has gained better insight and control of its financial health.
" I did not expect to see tangible results for at least 12 to 14 months, but to my surprise we started seeing immediate improvements across the business in the first 5 months after moving to Costpoint. Now that Deltek is managing the system for us, I’m able to save resources and focus more on my clients."
– Gurpreet Singh, CEO Infotrend, Inc.
The Need for Digital Transformation
With future plans to support more complex, fee-based contracts, it became very clear that QuickBooks could not scale and was not the strong foundation Infotrend needed to successfully manage their business with rapid plans for growth and modernization. “We're a firm that is rapidly evolving,” stated Singh. “We know what that change means, it means moving away from being a legacy firm. Leading the way to master and bring to our clients modernized solutions, through digital transformation.”
Most recently, Infotrend has made impactful changes across the government contracting industry to include support for cryptocurrency analytics, to help clients gain insights into complex market scenarios to support better decision making for creating regulations for cryptocurrency assets and securities. As well as support of the FDA’s Drug Evaluation programs, in support of the goals to shorten the time that it takes to bring drugs to market.
High profile projects like this require digital transformation through a comprehensive ERP solution, like Deltek Costpoint. “Our business is built on the foundation of serving our clients, and anything that gets in the way of that or slows us down is a hurdle that we must eliminate,” Singh said. “And, with QuickBooks we were definitely facing some of those challenges – making it cumbersome to manage. Project and financial data was disparate, we scrambled for accurate reporting, and struggled to produce our quarterly GSA reports on time, frequently asking for extensions. These challenges quickly became a hindrance to our growth. We had to invest in a new solution that could smooth out these hurdles and alleviate the pain of administrative back-end tasks.”
Fast Track to Growth
In anticipation of future contracts and growth, Infotrend decided to tackle their business challenges head on, rather than throwing additional people and resources at the problem. After evaluating other ERP systems like Workday and Unanet, as well as gathering substantial input from industry-peers, it became clear that partnering with Deltek was the right choice. “We were convinced right away, especially after talking to Team Deltek. We were impressed with Deltek’s sales team, their product knowledge and their focus on collaboration,” said Singh.
Since making the move to Costpoint in January of 2021, Infotrend has been able to significantly scale their business, improve efficiencies and eliminate unnecessary resources – while accelerating their plans for growth. In September alone, Infotrend was awarded approximately $90 million total in contracts, which equals about 70% revenue growth over the previous year– In addition to increasing revenue, they are actively expanding their headcount – filling a record breaking 20 positions in less than 3 weeks, with a goal of filling 27 more roles by the end of this year. “It scares me to think that if our business wasn’t running on Costpoint and didn’t have complete visibility into our projects, people and finances, we could be underwater right now,” stated Singh. “Deltek has been our lucky charm, as we have already exceeded our plans and expectations for this year.”
Spending Less Time on Timesheets
The close of each pay period is typically filled with forgetfulness and angst of the dreaded timesheets. Before using Deltek Costpoint, the HR team at Infotrend would scramble to close each pay period – making individual phone calls to various employees to remind them to fill out their timesheet or create a new timesheet for each, making the process time-consuming and cumbersome. With Costpoint’s Time & Expense module, all employees receive an email notification 24 hours in advance, reminding them to simply verify that the data in the system is accurate, as the pay period is about to close.
“Costpoint Time & Expense has been a lifesaver, particularly for our HR folks,” said Singh. “As many new projects come to fruition, the module has become a template for our team that can be deployed in hours rather than weeks, streamlining the time-entry process from project to project.” Streamlining simple business processes such as time entry not only increases efficiency for closing the books, but also gifts employees valuable time back in their day, making their jobs easier and less burdensome – boosting productivity and morale.
The Ease of the Cloud
“Moving your operations to the cloud offers a unique peace of mind,” stated Singh. “The ease of access and minimal maintenance of the Deltek Cloud has lessened the burden and helped us eliminate unnecessary resources.”
As industry continues to shift towards a more dispersed workforce, running your business in a cloud environment can enable data accessibility and foster fruitful collaboration across teams, regardless of location.
Powering Project Success
Reflecting back on its journey to Deltek Costpoint, Infotrend began its shift towards modernization and digital transformation, easing many operational tasks for employees along the way. “We’ve come a long way in a short period of time,” shared Singh. “Two years ago, we didn’t have visibility into what project was bringing in which revenue and which expenses were related to a specific project. Fast forward to the present, the leadership team now has complete visibility into all projects and finances to better understand performance and profitability on each project.”
Since implementing Costpoint, Infotrend has successfully passed their first audit, which means they are now eligible to bid on cost-plus contracts, supporting the firm’s plans for growth and diversifying their portfolio.
2021 MVP Award Winners
Learn More About How Our Customers Power Project Success
To stay up to date on insights, technology trends and best practices to succeed in government contracting be sure to follow us on Twitter and LinkedIn and subscribe to our Government Contracting blog.
- Customer Experience
- Customer Spotlight
- Data and Analytics
- Deltek Cares
- Deltek Insight
- Deltek News
- Deltek Project Nation Community
- Digital Transformation
- Diversity in the Workplace
- Executive Spotlight
- Financial Management
- Industry Analysis
- MVP Awards
- Organization and Culture
- Partner Spotlight
- Project Management
- Risk Management
- Small Business
- Team Deltek
- Transformational Trends
- User Experience
- User Experience Innovations