Full Sail Partners Blog | Evan Creech-Pritchett

Without efficient document management, project-based firms would fall to pieces. The advent of advanced technologies, particularly in scanning and document processing, helped firms streamline this crucial aspect of their operations. Traditional scanning methods often fall short, only capturing document images without extracting crucial metadata such as client names, dates, or invoice amounts, unless manually inputted by associates.

What is OCR?

Optical Character Recognition (OCR) technology, also referred to as optical character reader, plays a pivotal role in modern document management systems. It involves the conversion of images containing typed, handwritten, or printed text into machine-encoded text. Various sources can be converted such as scanned documents, photographs of documents, scene photos capturing text on signs or billboards, or even subtitled text overlaid on images from television broadcasts.

OCR technology was developed by Emanuel Goldberg, making its debut in 1914. Initially, it was developed to aid the visually impaired in reading characters. Over time, OCR capabilities have evolved significantly, becoming useful in various everyday applications such as airport processes, mail handling, and banking.

Early iterations of OCR systems required training with images of individual characters and were limited to working with one font at a time. However, advancements in technology, and most notably in AI, have led to the development of sophisticated systems capable of achieving high accuracy across a wide range of fonts. Modern OCR systems can support various image file formats as inputs, enhancing their versatility and applicability.

Some OCR systems can even reproduce formatted output closely resembling the original document layout, including images, columns, and other non-textual components. This capability ensures that the digitized documents retain their visual integrity and readability, further enhancing the utility of OCR in document management and data processing tasks.

OCR engines have evolved into specialized software applications tailored to specific subjects such as receipts, invoices, checks, and legal billing documents. These applications offer a multitude of functionalities, including:

• Entering data for business documents like checks, invoices, and receipts
• Extracting business card information and integrating it into contact lists
• Creating digital versions of printed documents
• Enhancing document searchability by converting scanned documents into searchable PDFs

These applications show off the versatility and significance of OCR technology in modern-day document management. The adoption of OCR solutions is poised to become increasingly integral to firms’ operational workflows, driving efficiency, accuracy, and overall productivity.

What is ICR?

Intelligent Character Recognition (ICR) software goes a step further than OCR, recognizing various fonts and handwriting styles. This distinction is crucial for grasping the nuances of modern document processing. ICR swiftly extracts information from scanned paper documents, digitally storing it for analytical reporting and seamless integration into business processes. Its self-learning systems continuously update recognition databases, achieving accuracy rates exceeding 97% for structured forms.

An important application is Automated Forms Processing, pioneered in 1993, streamlining data extraction from real-world forms. While OCR focuses on machine-printed text, ICR excels in deciphering hand-printed characters, though it faces some challenges with cursive handwriting. As businesses embrace digital transformation, ICR's adoption promises enhanced efficiency and accuracy in document management, revolutionizing data processing workflows.

Benefits of ICR

While OCR remains a cost-effective solution for basic document management needs, ICR offers advanced features tailored to the requirements of project-based firms. Not only does the ability to decipher handwritten notes and diverse fonts expand its utility beyond OCR, but the automatic retrieval of relevant data mitigates the risk of human input errors, a common challenge with manual data entry processes.

ICR in Accounting

In the realm of accounting, ICR proves particularly invaluable, streamlining the processing of various financial documents such as accounts payable, invoices, purchase orders, and payroll forms. For larger firms handling a high volume of documents monthly, ICR significantly reduces the time and effort expended on manual data entry tasks, thereby enhancing operational efficiency.

Mobile Expense Retrieval with Deltek Vantagepoint

Leading ERP systems provider Deltek has embraced ICR technology within its flagship solution, Deltek Vantagepoint. Leveraging ICR capabilities, Vantagepoint's mobile expense feature enables users to capture receipts via photographs, with the software automatically extracting relevant text and populating fields. This eliminates the need for manual data entry, empowering accounting teams to track project budgets seamlessly throughout the project lifecycle.

Looking Ahead

As technology continues to evolve, Deltek remains at the forefront of innovation, exploring additional applications of ICR to further streamline business operations. Stay updated as Deltek continues to test and integrate ICR capabilities into various facets of its ERP system, promising even greater efficiency gains for project-based firms.

Fostering Diversity, Equity, Inclusion, and Belonging (DEI&B) is not just a moral imperative but a strategic necessity for project-based firms. DEI&B creates environments that go beyond just diversity and inclusion, aiming to build equitable spaces where individuals feel welcomed, valued, and empowered. Surprisingly, not every company has a DEI&B initiative in place. Let’s review the core aspects of DEI&B, and what implementation strategies firms can use to promote these values.

Diversity

Diversity, the first pillar of DEI&B, acknowledges the variety of human characteristics and identities within a group or organization. It goes beyond just race and gender, encompassing various aspects that we don’t always think about such as age, ability and disability, socio-economic status, religion, nationality, and many more. In the context of project-based firms, where collaboration and innovation are key, recognizing and embracing diversity is especially important. Recognizing this is the foundation for fostering an environment where each team member's strengths and talents can thrive, ultimately contributing to the overall success of the projects and the organization.

Equity

Equity is about ensuring fairness, impartiality, and justice in the treatment of individuals, particularly in environments with historical disadvantages. Project-based firms need to actively address systemic biases, structural inequalities, and discriminatory practices. Achieving equity in a company involves creating policies and procedures that reward based on personal merit, ensuring everyone has an equal chance to succeed no matter what groups they may belong to.

Inclusion

Inclusion is the creation of environments where all individuals feel welcomed, respected, and valued. In project-based firms, inclusive practices involve actively embracing diversity and fostering a sense of belonging. This means creating spaces where people of diverse backgrounds, identities, and perspectives can thrive, express themselves authentically, and engage in meaningful collaboration without fear of discrimination.

Belonging

Belonging is the newest addition to DEI&B. It goes beyond diversity and inclusion, addressing individuals' emotional and psychological need to feel connected and respected within their professional environments. The feeling of belonging involves creating spaces where people can bring their whole selves to work, form genuine connections, and contribute to a collective identity and purpose.

Importance of DEI&B to Project-Based Firms

Beyond being morally imperative, DEI&B is crucial for project-based firms for several reasons: Fosters Positive Employee Engagement: DEI&B creates a positive and inclusive work culture, leading to higher employee engagement and satisfaction. Drives Innovation: Diverse teams bring a variety of perspectives and ideas, driving innovation and problem-solving in project-based settings. Broadens Talent Pool: Embracing diversity expands the talent pool, bringing in individuals with different skills, experiences, and viewpoints. Maintains Competitive Advantage: Companies with diverse teams often outperform their peers, maintaining a competitive advantage in the market.

Methods to Foster DEI&B in the Workplace

We’ve seen why DEI&B is important, but how do we go about putting these systems in place? Here are several ways that project-based firms can implement various initiatives to foster DEI&B:

• Diverse Hiring Practices: Actively seek diverse candidates and create inclusive hiring processes. Remember to look deeper into the categories we don’t always recognize, like nationality, socio-economic status, and age.
• Training and Education: Provide ongoing training on diversity, equity, and inclusion to enhance awareness and understanding.
• Employee Resource Groups (ERGs): Establish ERGs to provide support, networking, and mentorship for underrepresented groups.
• Flexible Work Policies: Implement flexible work policies to accommodate diverse needs and promote work-life balance. This can include options for hybrid and fully remote work.
• Leadership Development: Invest in leadership development programs that prioritize diversity and inclusion.
• Diversity Metrics & Accountability: Establish measurable goals and hold the organization accountable for progress.
• Employee Engagement Activities/Events: Organize activities and events that encourage diversity and promote inclusion. These can be as simple as company mixers, sporting events, or other group activities.
• Promotion of Diversity in Content and Marketing: Ensure that marketing materials and content reflect the diversity within the organization.

Making Diversity Programs Effective

Initiating diversity programs can be challenging, but it is essential for the success of DEI&B. Companies need to do three things in order to make an effective diversity program.

1. First, you must recognize the full spectrum of diversity. As we’ve talked about already, not all aspects of diversity are easy to see. Understand that diversity encompasses various categories beyond gender and race, including gender identity, age, ability, religion, political beliefs, and socioeconomic status.
2. Second, embed DEI&B in the company culture. Company culture is many things: the embodiment of a company’s values, its mission, and even its environment. DEI&B should be ingrained in the philosophy of the company.
3. Finally, appoint DEI&B Leaders. Designate a group responsible for DEI&B programs and initiatives to ensure focused attention and progress. This group does not necessarily have to be management, instead, a dedicated team or individual can ensure focused attention and steady progress in promoting diversity and inclusion within the organization.

Conclusion

Embracing and valuing the concepts of DEI&B in project-based firms not only aligns with social responsibility, but also drives positive organizational outcomes. By actively fostering diversity, equity, inclusion, and belonging, project-based firms can create environments where individuals thrive personally and professionally, ultimately contributing to the success and innovation of the organization. To learn even more about DEI&B and how Full Sail Partners is helping firms with this initiative, check out the replay of our LinkedIn Live by clicking the image below.

As Full Sail Partners launches another exciting new year, we thought it would be a great time to reflect back on the Top 5 Deltek Vantagepoint Mini-Demos of 2023! Chosen for their popularity, they showcase cutting-edge features that have resonated with users across diverse roles in professional services firms. Each leverages the expertise of our various presenters to create a profound impact on your use of Deltek Vantagepoint. Whether project managers, finance experts, or sales and marketing leaders, these mini-demos were designed to elevate your proficiency with Deltek Vantagepoint. So, without further ado, here are the top 5 mini-demos of 2023! 

#5: Finance & Project Accounting Oversight in Deltek Vantagepoint Dashboards 

Kicking us off at number 5 we have "Powering Project Success with Deltek Vantagepoint – Finance & Project Accounting Oversight in Deltek Vantagepoint Dashboards." In this demo, Theresa DePew, Senior Finance Consultant, showcases the transformative potential of Vantagepoint dashboards. She provides insights into navigating critical financial metrics such as revenue, expenses, and profitability. Theresa's expertise ensures that you not only gain a comprehensive understanding of these dashboards but also acquire the skills to make informed decisions and take proactive measures in managing your finances and projects adeptly. 

Some of Theresa’s favorite dashparts, including Profit & Loss (P&L), Accounts Receivable (AR), Cash Receipts, Billing Review, and Draft Invoice Approval, are featured prominently in this mini demo. These dashparts serve as integral tools, offering quick snapshots of income statements, simplifying collection tracking, and streamlining billing processes. Use this Deltek Vantagepoint mini demo to learn how to enhance your skills and leverage the ultimate tool for success in project management. 

#4: Different Ways to View & Manage Resources in Deltek Vantagepoint 

Learn the capabilities of Deltek Vantagepoint's Resource View with our fourth most popular mini-demo, "Powering Project Success with Deltek Vantagepoint – Different Ways to View & Manage Resources in Deltek Vantagepoint." Here, Principal Consultant, Terri Agnew, demonstrates how to make Resource View an essential asset in your resource management toolkit. 

She guides you through the three distinct capacity views offered by this powerful tool. Explore Planned Hours for a simplified understanding of your team's scheduled workload, utilize Scheduled % to identify resource allocation through a heat map, and delve into Utilization % to effectively track resource utilization against targets. This mini demo offers the insights needed to optimize your team's scheduling and utilization with Deltek Vantagepoint. 

#3: Utilize Schedule Dependencies for Resource Planning 

Coming in at our third most popular mini-demo is "Powering Project Success with Deltek Vantagepoint – Utilize Schedule Dependencies for Resource Planning." This time, Terri shows you how pivotal schedule dependencies can be for resource planning. This mini demo takes you through the creation of four distinct types of dependencies and illustrates three different methods for applying dependency relationships between phases, tasks, and labor codes. 

Terri also explains how schedule dependencies empower you to build meaningful relationships within your project, providing a holistic view of the overall schedule. This mini demo not only demonstrates the practical application of these features but also emphasizes their significance in easily updating schedules as dates change allowing you to elevate your project management capabilities. 

#2: Maximizing Efficiency and Accuracy in Invoice Creation with Vantagepoint's Mark-Up on Draft Invoices Feature 

For our second most popular spot, we have the mini-demo "Powering Project Success with Deltek Vantagepoint – Maximizing Efficiency and Accuracy in Invoice Creation with Vantagepoint's Mark-Up on Draft Invoices Feature." Here, Theresa DePew, Senior Finance Consultant, demonstrates the prowess of Deltek Vantagepoint's mark-up on draft invoices feature, showcasing how it can streamline your invoice review process, minimize errors, and enhance overall efficiency. The mark-up feature enables quick additions or removals of items, fee adjustments, and the inclusion of notes or comments for additional context.  

In this mini-demo, Theresa guides you through the creation of a draft invoice, demonstrating how to mark-up items, adjust fees, and incorporate vital notes, ensuring your clients receive comprehensive and accurate information. Also spotlighted are time-saving techniques such as reusing common billing items and tracking invoice status and history. See how Deltek Vantagepoint's mark-up on draft invoices feature can elevate your billing process and contribute to more effective client relationship management.  

#1: Project Management Oversight in Deltek Vantagepoint Dashboards 

Last, but certainly not least, we have "Powering Project Success with Deltek Vantagepoint – Project Management Oversight in Deltek Vantagepoint Dashboards” at our number 1 spot! In this mini demo, our expert, Rana Blair, Principal Consultant, demonstrates how these dashboards can revolutionize your workflows and provide invaluable insights. Whether you're a project manager, finance or project accounting professional, or a sales and marketing guru, this mini demo is tailored to focus on specific areas of business, driving your success to new heights. 

The number one rated mini demo offers visibility into crucial metrics such as budget, schedule, and resource allocation, allowing you to identify potential issues and take proactive steps to keep your projects on track. Rana also points out her favorite dashboards and dashparts, including My Team’s Project Performance Dashboard, My Project Performance Dashboard, and My Project Percent Complete Entry from Dashboards. Get crucial insights into budgets, schedules, and resources to elevate your project management game. 

Powering Your Project Success in 2024 

Now that you’ve been able to review the Top 5 Deltek Vantagepoint Mini-Demos of 2023, it is an ideal time to choose what topics best fit your professional services firm. Whether you're needing to sort out your finances, manage resources, create invoices, or keep tabs on projects, these top five mini-demos can help ensure you get better at fully utilizing your Deltek Vantagepoint system in the new year. They are available to watch on demand, and as always, Full Sail Partners would love to assist you in further exploring these Deltek Vantagepoint features.  

To find these mini demos as well as the others that are part of our Powering Project Success with Deltek Vantagepoint click the image below. 

The end of the year is just around the corner, and with so much left to do, we'd like to offer you insights from our team to ensure the transition into the new year is as seamless as possible. Each person brings a unique viewpoint, and together, we've compiled a practical guide for professional services firms. It's more than just a checklist—it's a roadmap to help you tackle the challenges and opportunities that come with wrapping up one fiscal year and starting another. So, let's jump into these tips from our experts and get ready for a smooth transition into the new year. 

Streamlining Your Project Pipeline in Deltek Vantagepoint CRM

As we approach the end of the year, we first must emphasize the importance of reviewing and refining the project pipeline in Deltek Vantagepoint CRM. This strategic move goes beyond database maintenance; it ensures a more accurate forecast of potential revenue for the upcoming year.  

Our Marketing Manager, Lindsay Diven, suggests focusing on these tasks: 

Assess Project Stages and Estimated Fees

Evaluate the current pursuit stages of each project and categorize them based on proposal status, shortlisting, or other decision stages. This step helps understand resource engagement and identify potential revenue stagnation points. Additionally, review estimated fees for relevance based on market trends and project scopes. 

Update Probabilities and Close Dates

Review and adjust probabilities and close dates to reflect the current likelihood of project success. Pay special attention to potential projects with outdated close dates. This ensures a realistic view of the pipeline's health and potential revenue. 

Take Decisive Action on Stale Pursuits

Avoid the common pitfall of holding onto pursuits unlikely to materialize. Take decisive action on pursuits with outdated close dates. Revive projects with potential, or close out those with no activity, allowing for a more focused pipeline. 

To prepare for 2024, cleaning up the project pipeline is an essential step for professional services firms in preparing for the new year. Ensure the CRM reflects the most current and accurate data, enabling a strategic approach and better resource allocation for 2024. 

Navigating Year-End Software Updates for Seamless Financial Operations

Regarding software, staying ahead of the curve will ensure the smooth continuation of your financial processes and position your professional services firm to adapt swiftly to any changes in tax regulations or reporting requirements. 

The Crucial Role of Software Version Management

Heath Harris, our IT Services Support Manager, underscores the critical role of software version management as we approach the year-end. Specifically, he emphasizes the significance of ensuring that your professional services firm is operating on the latest two versions of Vantagepoint. This strategic move is not merely a technical necessity; rather, it holds the key to unlocking seamless year-end tax and 1099 updates within the Deltek Vantagepoint system. 

The importance of this directive becomes even more apparent when considering the complexity of year-end financial processes. Staying current with software versions not only guarantees access to the latest features and enhancements but also safeguards your financial systems against potential vulnerabilities. In a landscape where regulatory changes can occur swiftly, being on the cutting edge ensures your financial team is well-equipped to handle any updates or modifications required for compliance.

Navigating Deltek Vision's Year-End Update

Heath also provides a heads-up about Vision's anticipated year-end update slated for mid-December. This message is particularly pertinent for those professional services firms relying on Vision for payroll processing and managing 1099s. Timely awareness of Vision's update schedule allows your team to plan and execute necessary updates and upgrades with precision.  

Financial Preparedness for the New Fiscal Year

In navigating the complexities of financial management, one of our Senior Consultants, Lisa Ahearn, imparts two beneficial tips that can significantly impact your professional services firm’s fiscal preparedness for the upcoming year. 

Initializing 1099 Reporting

Lisa's first critical tip centers on the initiation of 1099 reporting. After completing the Accounts Payable (AP) payment runs for the current fiscal year, and upon opening the new fiscal year, Lisa advises firms to proactively initialize their 1099 reporting. This strategic move is not merely an administrative task but a pivotal step in ensuring that your organization is well-positioned for accurate and timely reporting as you transition into the new fiscal year. By initiating this process before any payments are made in 2024, you pave the way for a seamless and compliant handling of 1099 reporting obligations.

Initializing the New Benefit Accrual Year

Lisa's second tip underscores the importance of initiating the new benefit accrual year. After finalizing all benefit accruals and adjustments for the current fiscal year, and upon the commencement of the new fiscal year, Lisa recommends taking proactive steps to initialize the benefit year. This strategic move is a proactive measure that ensures your firm is ready to handle benefit accruals in the upcoming year efficiently. By initializing the benefit year before any accruals are done in 2024, you set the stage for accurate tracking and management of employee benefits, contributing to a smooth and compliant benefits administration process. 

Elevating Year-End Efficiency with Vantagepoint 6.5 Features

Designed to enhance year-end processes and elevate overall operational efficiency, Joel Slater, our Client Solutions Manager, offers two game-changing features in Deltek Vantagepoint 6.5. These are invaluable tools that professional services firms should take advantage of during year-end transitions. 

Unlocking Efficiency in Invoice Approvals

Joel highlights the power of Intelligent Character Recognition (ICR) in Vantagepoint 6.5, emphasizing its ability to perform Automated AP Magic. This cutting-edge feature streamlines the traditionally time-consuming task of invoice approvals. By leveraging ICR, professional services firms can automate the extraction of relevant data from invoices, saving substantial time and ensuring accuracy in the approval process. Joel's insight positions this feature as a cornerstone for organizations seeking to streamline financial workflows, a crucial aspect in ensuring a smooth year-end transition. 

Visualizing Crucial Metrics with Precision

Joel also invites users to step into a KPI wonderland with the introduction of the Key Performance Indicator (KPI) Dashpart in Vantagepoint 6.5. This feature transforms data evaluation into a dynamic visual experience. Users can now highlight crucial metrics with conditional formatting, offering a comprehensive and visually engaging representation of key performance indicators. This not only enhances the clarity and insight derived from data but also empowers decision-makers with a more intuitive understanding of their professional services firm’s performance. As businesses navigate year-end reviews and planning, this becomes another invaluable tool for strategic decision-making and performance analysis. 

Cultivating Positive Leadership for Year-End and Beyond

Finally, in the realm of leadership and team dynamics, Sarah Gonnella, our VP of Marketing and Sales, shares some interesting insights on the importance of fostering a positive workplace culture, especially pertinent during the holiday season and into the year-end. Her guidance extends beyond conventional business strategies, emphasizing the pivotal role of positive leadership in shaping a thriving and motivated team.  

Advocating for compassion, active listening, constructive feedback, empowerment, and encouragement of self-care, she aims to create a supportive environment that acknowledges the human aspect of work. Sarah's holistic leadership philosophy serves as a compass, guiding teams not only through the holiday season but also into the new year, fostering resilience, innovation, and collective success. 

Position Yourself for a Prosperous New Year

As we wrap up 2023 and get ready for whatever 2024 throws our way, our team at Full Sail Partners wants to share some helpful insights. We aim to make it easier for our clients and other professional services folks to handle year-end stuff smoothly and start the new fiscal year on a good note. Whether it's simplifying how you work, keeping up with software updates, or promoting positive leadership, we hope these tips come in handy as you finish up your year and kick off a new one. Looking for extra tips to ensure a successful year-end? Explore our webinar, "Sleigh Your Year-End with Full Sail Partners," and get even more valuable insights from our team! 

Welcome to the final installment of our comprehensive series recap of the 44th Annual Deltek Clarity Architecture and Engineering (A&E) Study. Today, we embark on an in-depth exploration of the financial management trends found in the newest Deltek Clarity A&E Industry Report which focused on 2022 fiscal data. This report offers a rich tapestry of insights, shedding light on the critical financial dynamics that are currently influencing the industry.   

A Year of Remarkable Financial Success

In 2022, A&E firms achieved remarkable financial success, building on the bullish goals they set for themselves in 2021. One of the standout trends in the industry was the ability of firms to leverage direct labor costs and subconsultants effectively to drive increased revenues in 2022, leading to substantial improvements in operating profit (EBIT). Notably, revenue growth outpaced growth in headcount and wages, and firms achieved gains across various financial metrics.

This indicates the ability of A&E firms to make strategic investments during favorable economic conditions. On average, firms’ financial performance outshone expectations. To sustain this momentum, firms must continue to focus on key financial management trends and top financial initiatives.

Addressing Top Financial Challenges

As we look into the financial landscape of 2023, it's important to note that the most prominent challenges faced by A&E firms remain consistent with those of previous years.

• Finding and Retaining Qualified Staff: This is the most prominent financial challenge identified by firms in 2022 and it remains the top concern, with 65% of A&E firms identifying it as one of their top three challenges.
• Increasing Profitability: 45% of respondents indicated that increasing profitability was one of their top challenges. To handle this, A&E firms continue to refine their strategies and use technology and process improvements to reduce project delivery costs, particularly for time-intensive and manual tasks.
• Managing Growth: Tied with increasing profitability, growth management is a concern for 45% of companies in the A&E sector. Firms must address the challenge of managing growth effectively by balancing robust pipelines of new projects with existing resources to ensure profitable project delivery despite rising costs.

Financial Improvement Initiatives

Once again, this year’s financial improvement initiatives are very similar to the previous year. Below are some of the critical initiatives that A&E firms have highlighted as requiring attention throughout the current year and into the next:

• Business Process Improvements: The most significant initiative of the year, as indicated by over half of the firms surveyed (55%), is prioritizing business process improvements in their financial strategies.
• Training Project Managers on Financials: Ensuring that project managers have a strong understanding of financial management principles is essential for optimizing project delivery. This initiative was the leader in last year's results, but it has dropped to a close second this year with 52% of A&E firms citing a need for improvement.
• Increase Talent Spending: Investing in hiring and retaining top talent is critical to achieving sustainable growth. By attracting and retaining the industry's brightest minds, A&E firms not only ensure their competitive edge but also foster a culture of innovation and excellence that permeates every project they undertake.
• Better Managing Growth: A&E firms recognize the need to drive efficiency and effectiveness in pipeline management, talent development, project execution, and cash flow management. Streamlining these critical aspects of their operations allows them to not only meet client demands but also adapt swiftly to industry changes, ensuring long-term viability in an ever-evolving market.
• Business Process Improvements: By identifying and implementing process improvements, sucA&E firms can reduce time-consuming manual tasks, minimize errors, and enhance productivity, ultimately freeing up resources to focus on strategic initiatives that drive growth and innovation.

The Path Forward for Financial Management

This section of the 44th Deltek Clarity A&E Industry study delved deep into the financial management trends within the A&E industry, offering a comprehensive view of the financial dynamics shaping this sector. This year we witnessed remarkable financial success, with firms strategically leveraging their resources to achieve impressive revenue growth, outpacing the expansion of their workforce and wage costs. As they continue to navigate the ever-changing economic landscape, these A&E firms must remain vigilant in their approach to financial management.

To gain a more comprehensive understanding of this year's financial trends and their implications for the architecture and engineering sector, we encourage you to explore the complete 44th Annual Deltek Clarity A&E Report. It provides an in-depth analysis and a wealth of insights, serving as an invaluable resource for professionals and organizations in this ever-evolving industry.

In today's rapidly evolving business landscape, the demand for seamless remote access to critical data is paramount for professional services firms. You may already have encountered the Deltek Touch Time and CRM mobile applications and have a strong desire to empower your employees while they’re on the go, allowing them to leverage the capabilities of these apps to access your Deltek Vantagepoint data remotely. Whether you envision your staff accessing data from the comfort of their homes and abroad, or you foresee the immense value it can bring to project managers working in the field, we understand that venturing into Deltek Touch Time and CRM mobile applications to access from the web can seem like a daunting prospect. So, in this blog, let us address your concerns and delve into the benefits and safety measures involved for your professional services firm and try to allay your fears.  

Safety and Security

First and foremost, we realize that security is of the utmost importance to your professional services firm. However, when properly deployed with Secure HTTP and a robust password policy, accessing your Deltek Vantagepoint data from anywhere becomes as secure as accessing your online banking information. Your professional services firm’s data integrity remains intact, and you can trust that your business information is protected.

Cost-Effectiveness

Furthermore, for professional services firms, we know that the financial aspect of offering another feature is always a big concern. Yet, with Deltek Touch Time, the cost implications are minimal. The primary expense lies in the initial setup, generally taking no more than an hour or two. The foundation for this access is already embedded in your existing Deltek Vantagepoint installation. So, you can rest assured that the transition to remote access is cost-effective and well worth the investment.

Ease of Configuration

Moreover, configuring Deltek Touch Time for web access is a straightforward process, especially for a single server installation. It can be executed with minimal downtime or even scheduled for after-hours operation with careful planning. In cases where multi-tier installations are involved, there may be a bit of added complexity, but these nuances are well-understood and can be expertly addressed. The Full Sail Partners’ team has a wealth of experience assisting numerous professional services firms in navigating this transition, and we encourage you to reach out to us for any necessary support.

How Can You Access These Features?

Finally, you may be wondering, how do you open Deltek Vantagepoint to the internet to allow your professional services firm’s employees access to new features like Deltek Touch? It’s easy, just follow these steps:

• Modify your Firewall: Adjust your firewall rules to permit port 443, which facilitates secure HTTP traffic, to be forwarded to your Vantagepoint server. We advise that you test the setup at this point by visiting your Vantagepoint login page, ensuring that everything is still functioning correctly.
• Checking Domain Accessibility: Verify that the Fully Qualified Domain Name (FQDN) is accessible both internally and externally. Minor adjustments to your Domain Name System (DNS) settings may be necessary to achieve this.

By following these steps, you will seamlessly enable access to Deltek Vantagepoint from both onsite and offsite locations. Once this is confirmed, you can promptly inform all users to utilize the Touch links for their Deltek Vantagepoint requirements. How convenient is that?

Access to Data from Anywhere is Within Your Grasp

The transformation to accessing Deltek Vantagepoint data from anywhere, at any time, is well within your professional services firm’s grasp. You can enjoy the peace of mind that comes with knowing your data is securely protected while remaining readily accessible to all your employees whenever it is needed. We encourage you to share your thoughts regarding having seamless remote access to your essential data with us, and if you require any assistance or guidance, do not hesitate to contact our knowledgeable team at Full Sail Partners.

Deltek Vantagepoint announces an exciting new update, offering a wealth of tools and features to continue to increase collaboration and productivity for project-based firms. Vantagepoint 6.5 includes a substantial release filled with enhancements across multiple modules that benefits different user groups. In this article, I’ll be covering the top 5 features that I think will have the biggest impact in the daily usage. Without further ado, let’s jump right in! 

1. Accounts Payable (AP) Invoice Approvals Enhancements

This update brings significant time-saving enhancements to AP Invoice Approvals, including improvements to Intelligent Character Recognition (ICR), the introduction of a new field, and more. 

• Intelligent Character Recognition (ICR): One of the standout features of this update is the integration of ICR for AP Invoice Approvals. With ICR, Vantagepoint can read details from uploaded AP Invoice files and automatically populate several key fields in the AP Invoice Approval form. These fields include Vendor, Address, Invoice, Invoice Date, Invoice Amount, and even Currency if you work with multiple currencies.  
• Streamlined AP Invoice File Uploads: When you upload an AP Invoice file, the system provides a preview pane on the right side of the AP Invoice Approvals form, displaying the uploaded document. While this update may seem small, it’s incredibly helpful when managing multiple files within the same AP Invoice.  
• Invoice Amount Field: ICR automatically populates the Invoice Amount field on the AP Invoice Approvals form with the total amount from the uploaded file. This field is now always editable, ensuring that the value matches the total amount in the Project Information grid. If there's a discrepancy, the system will display a warning message upon submission. 
• Adjustable Right Pane: In the Transaction Center, when viewing the AP Invoice Approvals form in Detail View, you can now display a PDF of the AP invoice in a preview pane on the right side. This convenient feature allows you to simultaneously review the invoice while making edits to the invoice and project information. 

2. Smoother Vantagepoint Connections with API Enhancements 

Deltek Vantagepoint 6.5 introduces an array of powerful API enhancements to streamline your workflow. With new AP Invoice Approval API Endpoints, Third-Party Integrations API Endpoints, and the PUT Post Timesheet Entry API Endpoint, integrating with Vantagepoint has never been smoother. 

• AP Invoice Approval API Endpoints: For those integrating with Vantagepoint, new API endpoints for AP invoice approvals are now available. These endpoints adhere to existing validations, restrictions, and security requirements at the application level, ensuring seamless integration. 
• Third-Party Integrations API Endpoints: Another API-related enhancement is the introduction of Third-Party Integrations API endpoints. Just like the AP Invoice Approval endpoints, these follow established validation, restriction, and security protocols. 
• PUT Post Timesheet Entry API Endpoint: To simplify timesheet management, the new PUT Post Timesheet Entry API endpoint allows you to post timesheets for individual employees or multiple employees at once. This API endpoint respects existing validations, restrictions, and security measures. 

3. Long-Awaited Dashparts Types  

The latest additions to Vantagepoint Dashparts offer customized metric presentations, extended role-based security, and improved functionality, streamlining operations for efficient data access and evaluation. 

• Key Performance Indicator (KPI) Dashpart Type: With this new dashpart type, you can highlight crucial metrics for better data evaluation. Other customization features include changing the background and text colors, turning on/off sorting, selecting the date ranges, adding calculations, adding filters, and more. Even more, you can use the conditional formatting that will dynamically change the tile color when comparing KPI values to static values. 
• Firm Dashpart Base: This new dashpart base displays firm-related information from the Firms hub, including vendors, clients, competitors, or government agencies. This enables quick access to relevant firm data directly from your dashboard. 
• Role-Based Security for More Dashpart Bases: Role-based security settings, previously available for Employee dashparts, are now extended to several other dashpart bases, including AR Detail, Project, Project Detail, and Firm. This enhances data security and access control within your organization. 
• Timesheet Floor Check System Dashpart: This new dashpart empowers you to perform employee timesheet floor checks directly from your dashboard. This feature replicates all actions available in the Floor Check dialog box in the Timesheets module, such as sending reminders, opening or printing timesheets, and checking timesheets from different periods. 
• Dashpart Calculations: You can now create dashpart calculations based on selected columns in the current dashpart. These calculations respect filters and date ranges applied to the columns, allowing for more precise data analysis. Dashpart calculations are different from calculated fields, which are formulated from all available fields of a dashpart base. 
• New Columns for the Project Detail Dashpart Base: Additional columns have been added to the Project Detail dashpart base to enhance cash flow visibility for clients using Paid when Paid (PWP) payment terms. These columns provide insights into invoice status, discounts taken, payment dates, and more. 
• Update to the AR Comment Column: Users can now add or edit AR comments directly from drill-to dashparts with the AR Detail dashpart base, simplifying AR management. 

4. Improved Labor Resource Assignments and Unit Planning 

Deltek Vantagepoint 6.5 brings notable enhancements to the Planning module, aimed at improving the management of labor resources and unit planning within your projects. 

• Fill Labor Resource Assignments with Planned Hours: On the Labor tab of the Plan form, a new feature called "Fill Hours Per Day" empowers you to assign planned hours to workdays for labor resources based on specific criteria. You can choose to allocate hours based on a set number of hours per workday or a percentage of the employee's hours per day. This streamlines the process of planning labor resources and ensures more accurate assignments. 
• Unit Planning Enhancements: Unit Planning has also received improvements, allowing you to view planned, actual, and baseline unit data more effectively. This includes the ability to display sub-rows for unit quantities, cost, billing amounts, and allocation in each calendar period of your project plan. Additionally, you can now specify unit planning data export settings based on the desired timescale, whether by day, week, or month. 
• Plan Expenses and Consultants in Calendar Periods: For companies using the Resource Planning module and planning expenses and consultants, Vantagepoint 6.5 introduces the ability to plan expense and consultant amounts in calendar periods within the Plan module. This feature enhances the granularity of your planning capabilities. System administrators can configure these options in Settings, and individuals can modify them for specific plans if they have the appropriate access rights. 
• Show the Critical Path on the Gantt Chart: When it comes to project scheduling, understanding the critical path is crucial for project managers. In Deltek Vantagepoint 6.5, you can now visualize the critical path of your project directly on the Gantt chart within the Schedule tab of the Plan form. The critical path represents the sequence of tasks or phases that cannot be delayed without affecting the project's completion date. By toggling on the "Show Critical Path" option above the schedule grid, tasks or phases on the critical path are highlighted in red, making it easier to identify and manage them.

5. New Workflow Functionality

The workflow functionality in Deltek Vantagepoint has been enhanced with two significant features: 

• After Completion Workflow Type: Vantagepoint 6.5 introduces the "After Completion" workflow type for Application workflows. This workflow type allows you to define additional actions that should occur on a transaction after it has been successfully posted to the database. This feature enhances automation and customization capabilities within your workflows, enabling post-processing actions tailored to your organization's needs. 
• Support for Alternate Approvers: In the Approval workflows, a new set of options has been introduced to support alternate approvers. These options include "Do Not Allow Employees to Approve More than Once," which prevents an assigned approver from approving a record more than once, and "Do Not Allow Employees to Approve Records They Have Created," which prevents approvers from approving records they themselves created. These options enhance workflow management, impartiality, and control in the approval process. 

Enhancements Abound with Deltek Vantagepoint 6.5

Deltek Vantagepoint 6.5 introduces a wide range of enhancements and features designed to streamline operations, enhance security, and improve functionality across various modules. These updates empower organizations to make more informed decisions, increase efficiency, and maintain data accuracy in their day-to-day operations. With these improvements, Vantagepoint continues to evolve as a powerful and versatile solution for project-based businesses. To see these improvements and more, make sure to watch our “What’s New in Vantagepoint 6.5 Webinar” by clicking the image below.

As part of our ongoing commitment to exploring the latest industry insights, Full Sail Partners has been diligently examining the data from the Deltek Clarity Report, and this blog represents another installment in our series dedicated to this topic. The 44th Annual Deltek A&E Clarity Study is a beacon, illuminating the crucial technology trends that are reshaping the Architecture and Engineering (A&E) sector. Firms are strategically leveraging technology to achieve digital maturity, enhance cybersecurity, and refine business processes. In this blog, we'll dissect key findings from the study's Technology Trends section to provide valuable insights for industry professionals.  

Addressing Top Technology Challenges

To overcome the paramount challenges presented by technology, firms must extend their focus beyond merely recognizing emerging trends. An essential component of success involves equipping their staff with the requisite knowledge and skills to harness these technologies effectively. Establishing a culture of comprehensive education throughout the operational staff is pivotal for the deployment of these solutions. Furthermore, firms can greatly enhance their technology adoption by fostering collaboration with external experts. These experts bring a wealth of experience and specialized knowledge, which can be instrumental in seamlessly and cost-effectively integrating technology solutions into the firm's existing workflows.

Strategic Technology Plans and Digital Maturity

Firms are prioritizing strategic technology plans to navigate challenges related to rising costs and talent management. They're investing in high-impact areas such as project management and financial management. However, an uptick in manual data entry indicates a potential gap between strategic goals and implementation. Despite this, firms are advancing digitally, bringing more operations in-house and empowering staff as technology champions.

Firms are increasingly confident about achieving digital maturity, with 32% now self-classifying as advanced or mature, up from 18% in 2021. Looking ahead, 82% envision advanced or mature stages in five years. However, realizing this vision requires a solid plan and actionable tactics to turn optimism into reality. For more information, take a look at the Digital Transformation Maturity Spectrum in the Deltek Clarity Architecture and Engineering Industry Study, linked at the bottom of this blog.

Managing Technology Costs

Rising technology costs are a significant concern for firms, underscoring the need for strategic evaluation of existing technology to align with overarching objectives. Prioritizing solutions that offer both immediate and long-term ROI is essential for cost-effective technology adoption. Internal champions play a pivotal role by facilitating seamless integration and inspiring colleagues, contributing to heightened employee engagement and retention rates. Cultivating a culture of technology champions ensures that firms maximize their technology investments while enhancing overall workforce effectiveness.

Overcoming Technology Adoption Hurdles

The adoption of emerging technologies presents several challenges, including concerns regarding their relevance, the absence of internal expertise, and potential knowledge gaps among employees. To effectively address these hurdles, firms are encouraged to proactively invest in upskilling their existing staff. This investment not only equips employees with the necessary skills but also fosters a culture of continuous learning and adaptability, crucial in today's dynamic technological landscape. Additionally, leveraging tech-savvy champions within the organization can be transformative. These champions serve as enthusiastic advocates for technology initiatives, bridging the gap between vision and implementation.

Data and Cybersecurity Concerns

Data and cybersecurity are paramount in the A&E industry, with 68% of firms citing it as a top IT operations challenge. Cybersecurity threats impact businesses, making robust security policies and procedures crucial. Ensuring the protection of sensitive information and maintaining clients' trust are central to the industry's continued success.

Redefining Digital Transformation

A&E firms are continually evolving their use of technology to gain a competitive edge. While digital maturity is on the rise in companies of all sizes, technology costs can be a significant barrier. Firms are encouraged to focus on upskilling staff and leveraging existing technology capabilities, as this strategic approach can not only drive operational excellence but also empower firms to navigate the challenges posed by the fast-paced technology landscape effectively. By investing in their workforce and maximizing the potential of their current technology solutions, companies can position themselves as industry leaders ready to embrace the future of technology.

Manual Data Entry: A Persistent Challenge

Even with advanced technological solutions at our disposal, many organizations still find themselves heavily dependent on labor-intensive manual data entry. This dependence spans across various departments, including administrative, accounting, finance, and operations, where human intervention remains a necessity. To optimize their operations and enhance efficiency, these businesses must pinpoint existing inefficiencies and begin to automate their workflows.

A closer look at the statistics reveals the extent of this reliance on manual data entry across key organizational departments:

• A significant 72% of accounting and finance departments within firms rely anywhere from completely to moderately on manual data entry.
• Similarly, a substantial 74% of Operations/Resource Management departments within these organizations are found to be anywhere from completely to moderately reliant on manual data entry.
• Furthermore, a staggering 81% of Administrative/Management divisions within firms also exhibit a significant reliance on manual data entry.

These figures underscore the pressing need for organizations to embrace automation and technological advancements to alleviate the burdens of manual data entry and unlock the full potential of their workforce.

Embrace the Future of Technology

To flourish in this technology-driven era, firms must go beyond acknowledging emerging trends; they must empower their staff with the skills and knowledge needed to harness these technologies effectively. Cultivating a culture of comprehensive education across operational staff is pivotal for the successful deployment of these solutions, and collaboration with external experts can significantly amplify technology adoption.

As A&E firms strive for digital maturity and navigate the challenges of rising technology costs, they must continue investing in their workforce and maximizing the potential of their current technology solutions. This strategic approach not only drives operational excellence but also positions companies as industry leaders prepared to embrace the future of technology. Despite the persistence of manual data entry challenges, the industry's resilience and commitment to transformation ensure that the path forward remains illuminated by the beacon of technological progress.

For more details on Technology Trends from the 44th Clarity Study, read the entire report. 

Full Sail Partners has been closely following the annual Deltek Clarity Architecture and Engineering Industry Study, and in our previous blogs, we've delved into various aspects of this comprehensive report. As we continue our exploration of this year's 44th Annual Deltek Clarity study, we shift our focus to the critical realm of project management within the architecture and engineering (A&E) industry. This sector struggles with numerous challenges daily, and the study offers valuable insights into the current trends and issues affecting project managers. In this blog, we will dissect key findings from the study, particularly homing in on project management challenges and the strategic initiatives poised to address them. 

Project Management Challenges 

In the ever-evolving realm of architecture and engineering, project management is the linchpin of success. However, it's not without its formidable challenges. In this section, we'll delve into these critical challenges, from gaining better visibility into KPIs to grappling with staffing shortages. Furthermore, we will discuss strategies for overcoming them to achieve project management excellence. 

Visibility into Project Management KPIs: Project managers grapple with obtaining clear insights into key performance indicators (KPIs) and the tools required to manage them effectively. This issue affects project performance and client satisfaction. 

Projects on or Ahead of Schedule: 59.76% of projects are on track for schedule and budget. Despite this, staffing challenges continue to persist and impact project outcomes. 

Competing Priorities: A&E firms with well-defined roles, responsibilities, and efficient tools are better equipped to manage project resources. Quality control hubs, such as Centers of Excellence (CoEs) and Project Management Offices (PMOs), are instrumental in driving best practices. 

Staff Shortages: The industry continues to struggle with hiring and retaining skilled staff, with 62% of firms identifying it in their top 3 concerns. Offering tools, training, and attractive work cultures can help attract and retain next-generation project managers. 

Project Management Solutions 

Navigating the intricate landscape of project management in the architecture and engineering industry demands not just an understanding of the challenges but also the strategies to overcome them. In this section, we'll explore proactive solutions that address the industry's top project management challenges. From upskilling and training to streamline project management to harnessing collaborative platforms for improved effectiveness, and investing in technology for seamless connectivity, we'll unravel the keys to project management success.  

Addressing Top Project Management Challenges: To overcome these challenges, A&E firms are reducing their reliance on new project manager hires. Instead, they are focusing on upskilling, training, promotion, and formal career development planning to maintain productivity and deliverable quality. 

Project Management Effectiveness: Staffing issues, strong pipelines, and backlogs combined with increased staffing costs and skill gaps can hinder project management effectiveness. Collaborative platforms and regular training can help bridge these gaps. 

Connecting Teams and Using Systems: A common challenge is connecting all relevant teams on the same platform and ensuring employees use these systems correctly. This requires investment in technology and proper training. 

Project Management KPIs 

Effective project management necessitates careful planning and monitoring through various KPIs. While financial KPIs such as net revenue, profitability, and multipliers are well-tracked, there's room for improvement in non-financial KPIs like client satisfaction, schedule variance, and earned value.  

Balancing Financial and Non-Financial KPIs: Top financial KPIs like net revenue, profitability, and multipliers continue to be tracked by most firms at 94%, 93% and 83% respectively. However, firms showed less reliance this year on the non-financial KPIs like client satisfaction and earned value, at only 36% and 18% of firms tracking these statistics. Achieving a balance between financial and non-financial KPIs is essential for successful project management. Focusing solely on financial metrics can lead to oversight of critical project aspects. 

Project Reporting Accuracy: While A&E firms are gaining confidence in reporting project costs accurately, there's still room for improvement in reporting project schedules. Accurate schedule reporting is crucial for project success. 

Project Management Initiatives 

As the architecture and engineering industry continues to evolve, it's imperative to not only identify challenges but also to proactively address them through strategic initiatives. In this section, we will explore how A&E firms are taking forward-looking steps to enhance project management. These initiatives encompass investing in internal project management expertise, defining roles more clearly, and harnessing the power of technology and software tools to pave the way for a more efficient future in project management.  

Investing in Internal Project Management: A key priority for A&E firms is investing in internal project management, replacing the focus on hiring more qualified staff. Developing best practices and clearly defining roles for project management are also top priorities. 

Leveraging Technology: While technology can provide substantial support in project management, only a small percentage of firms are prioritizing investments in better software tools. Maximizing the value of existing tools and technology is crucial. 

Facing Challenges with Project Management Head on  

The A&E industry faces ongoing challenges in project management, including visibility into KPIs, staffing shortages, and maintaining project schedules and budgets. However, A&E firms are proactively addressing these challenges by investing in training, upskilling, and improved project management processes. Balancing financial and non-financial KPIs, accurate reporting, and leveraging technology will be essential for future success in the industry. By nurturing a culture of continuous improvement and transparency, A&E firms can enhance project management effectiveness and, ultimately, client satisfaction.