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Ryan Felkel

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Full Sail Partners Promotes Scott Gailhouse to Consulting Team Manager to Ensure the Continued Success of our Deltek Clients

Posted by Ryan Felkel on Thu, Feb 13, 2020 @ 11:15 AM

Scott Gailhouse

Full Sail Partners, a Deltek Partner and creator of the Blackbox Connector, is honored to announce that Scott Gailhouse, Principal Consultant, has become the Consulting Team Manager. Scott has served in past leadership roles and will continue to use these skills to ensure client needs are met by matching them with the right consultant for their unique requirements.

As the Consulting Team Manager, Scott will assume all of the responsibility for managing the delivery of the Full Sail Partners’ consulting services. Additionally, he will make certain that each member of the consulting team stays current with new Deltek product developments, as well as work with the team to meet client commitments.

“I am very excited about this new position and to continue my growth with Full Sail Partners,” stated Scott Gailhouse. “I’m looking forward to enhancing the client experience when they choose to utilize our team of Deltek Vantagepoint and Vision experts!”

Scott Gailhouse has been active in the Deltek community for nearly three decades. Having worked as Controller of a large architectural firm, Scott has in-depth knowledge of all financial aspects of the professional services industry. With this ideal background, Scott will be able to mentor members of the consulting team and continue to assist our clients.

“Scott is the quintessential person to take on this new role,” Scott Seal, VP of Consulting, excitedly stated. “Scott’s extensive knowledge about the professional service industry and Deltek products will ensure our clients continue to receive innovative solutions to achieve the maximum value out of Deltek Vantagepoint and Vision.”  

For more information, please email Full Sail Partners’ Marketing Communications Department. Interested in meeting the rest of the crew? Check out the link below!

Topics: Press Release

Can Small to Mid-sized Firms Benefit from Deltek Vantagepoint?

Posted by Ryan Felkel on Wed, Feb 12, 2020 @ 11:30 AM

Questioning Person

As many in the professional services industry know, Deltek is the leading provider of enterprise resource planning (ERP) systems and other software solutions designed exclusively for project-based businesses. There are more than 30,000 organizations and millions of users in over 80 countries that rely on Deltek solutions. Wow! Those are some impressive numbers.

Out of the many ERP solutions Deltek offers, the newest and most innovative ERP system is Deltek Vantagepoint. Deltek listens to its client base and continually evolves its solutions to meet their clients’ growing needs. After receiving client feedback, Deltek created Vantagepoint which is largely based on the Vision ERP system with a lot more functionality. However, many small to mid-sized firms view Deltek solutions as only for large firms. So, let’s see what benefits Vantagepoint has to offer these smaller firms?

Deltek Has a Partner Program to Support Vantagepoint

A common thought is that Deltek only supports larger firms as clients, and there is concern that smaller clients might not receive quality customer care. However, this is not the case. Deltek has an extensive network of trusted partners that can help you identify your firm’s unique needs and successfully implement your new Vantagepoint ERP system. By utilizing a Deltek trusted partner, your firm will get the individual attention that is required to maximize the benefits and value of Vantagepoint.

Trusted partners offer more than implementation services, since they can also provide consulting and advisory services, ongoing training and more. As a result, you are never alone on your journey to bring your entire business operation into one system. Furthermore, you can even select the partner you want to help navigate your successful implementation and continued use of Vantagepoint. 

Deltek Vantagepoint Addresses Your Firm’s Needs

Although each firm has its own unique needs and requirements, Deltek Vantagepoint out-of-the-box is ready to fully support all the roles and functions of your professional services firm. With Vantagepoint’s simple to understand user interface, each employee at your company can quickly learn how to use this solution to help them successfully complete their jobs. Whether it’s accounting, business development and marketing, project management or HR, all employees in your firm will have the right tools at their fingertips to be productive. Even more, with all roles working in one system, upper management and executives have insight into all the business functions to ensure the firm’s success regardless of the size your firm.

Deltek Vantagepoint Fits all Sizes of Project-Based Firms

Deltek Vantagepoint is the perfect project-based ERP system for firms of all sizes. From small growing firms to large firms, the features within Vantagepoint help deliver profitable and successful projects. Additionally, Vantagepoint was designed specifically around both the needs of your firm and employees. Here are some key features that make Vantagepoint the ideal solution for small to mid-sized firms:

  • Vantagepoint is simple to configure ensuring it aligns with the unique needs of your business with the Activation Wizard
  • Using the Proposal Editor, you can create profitable and winning proposals based on the historical performance of previous projects
  • The Engagement Hub allows you to have insight into your business, and Hey Deltek is Vantagepoint’s personal assistant that helps users locate, open or create new records in the Engagement Hub
  • A simple to understand user interface helps create an intuitive user experience
  • You have access to the information in your Vantagepoint database from anywhere at any time using Cloud technology

Deltek Vantagepoint Can Help Small to Mid-sized Firms Be Successful

Running a successful firm requires it and its employees to have access to the best tools available. With Deltek Vantagepoint, all sizes of professional services firms get what they need from easy to use features to support from trusted partners. Since Vantagepoint is designed specifically to meet the needs of professional services firms like those which are project based, all sizes of firms including small to mid-sized will benefit from using Vantagepoint.

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Topics: Technology Solutions, Professional Services, Deltek Vantagepoint

Control Your Projects Better with Deltek PIM

Posted by Ryan Felkel on Wed, Dec 11, 2019 @ 02:44 PM

Deltek PIMDuring the lifecycle of a project in the professional services industry, there is a lot of information being shared among all the members of the project delivery team. Furthermore, history has shown that there is a larger amount of project related documentation being created as the professional services industry continues to become more digitized. As a result, more information is being shared and there are more decisions and final approvals to be made.

With all this information bouncing back and forth, it can become difficult to track what your other team members have reviewed. Therefore, making timely decisions becomes increasingly harder which can jeopardize the successful delivery of a project. However, Deltek has created Deltek PIM to help firms better manage project documentation to allow project delivery team members quick and easy access to important project related information.  

Easily Track Submittals with Automated Workflows

There are all types of various submittals that have to be tracked and documented during the lifecycle of a project. For many firms, this is still done using spreadsheets and other manual methods. Due to this, tracking change orders becomes a heavily manual process which is time consuming and prone to errors.  

What if there was a way to make this process less time consuming and allows for improved tracking of submittals? With Deltek PIM, firms can take advantage of the workflow functionality to create a formal submittal review process. What makes PIM’s workflow functionality so great is that it allows project team members to track the status of each submittal throughout the entire process. Even more, it allows team members to see who has reviewed the submittal and who still needs to review it to help ensure it gets processed and approved before the deadline. PIM also sends reminder alerts to individuals when a deadline is approaching to ensure they review the change order before the deadline.

Emails Here and Emails There

During the project lifecycle, email is a leading communication method amongst project team members. However, have you ever left someone off an email, or have you not been included on one? If this has ever happened, it is likely that a project team member has been left out of the loop about critical project information. Even worse, a project team member may not receive a crucial document that contains important project information.

The problem with emails is that the sender may not include an important recipient, or the recipient may not open the email in time to make an actionable decision on the information being shared. Thus, the decision-making process can be delayed, and the project timeline can be put in jeopardy. However, Deltek PIM provides a solution to improve project communication.

With PIM’s email management functionality, the entire project team has access to all the conversations that have influenced changes to the design and construction process of the project. Furthermore, PIM’s email management solution allows for the storage of project related communications in one centralized area designated to a specific project. Therefore, you never have to worry about obtaining these communications even if a team member is on vacation, out on leave, or has left the firm. All this information is permanently stored and made easily accessible.

Keep Up with Important Project Documents

A large portion of delivering a successful project requires keeping project documents up-to-date and organized. This means having access to the latest version of a document and being confident that the version you are working on is the most current version. With most document control processes, it’s difficult to know if the version you are working on is the correct and most recent version. Even more challenging, what if someone is trying to make changes to the same document at the same time? As most can agree, document management can be truly challenging and can hinder the success of a project.

The good news is that Deltek PIM makes document management simple. When firms adopt PIM’s document management functionality, they are able to implement standard document management processes and make sure project team members are compliant with them. Even more, PIM ensures one single version is available to all project team members which reduces duplication and provides the team access to the latest version.

Improve Project Collaboration with Deltek PIM

Information here and information there, information is everywhere. Well, this can be great for somethings like researching an item before making a big purchase. However, information everywhere is not so great when trying to deliver a project for a client. With Deltek PIM, all project related information is located in one space making access to it quick and easy for all project team members.  

Deltek PIM

Topics: Technology Solutions, Professional Services, Project Information Management (PIM)

Project Management Trends Identified in the 40th Annual Deltek AE Clarity Study

Posted by Ryan Felkel on Wed, Oct 16, 2019 @ 11:35 AM

40th Annual AE Clarity Report

How well an engineering and architecture (AE) firm can deliver a project is core to the firm’s success. However, the 40th Annual Deltek AE Clarity Study found that AE firms still continue to have trouble with delivering great project management. Let’s take a deeper dive into these findings and identify areas your firm can improve on in regard to project delivery.

Top Project Management Hurdles

Surprisingly, the top three challenges reported by AE firms were the same as last year. We should take note so that these challenges do not repeat themselves in next year’s study. The leading challenge firms reported was the competing priorities of project managers. This entails managing and delivering projects while also being responsible for designing future projects and tasked with business development.

Even more, the second largest challenge AE firms have experienced with project management is staff shortages. If project managers are responsible for the aforementioned competing priorities, then it is clear the firms are understaffed. More allocated staff would balance the workload, so projects can be run more efficiently. In third place, AE firms reported that they are challenged with hiring and retaining experienced project managers with firms stating that inexperienced project managers actually hinder the successful delivery of projects.

Key Area of Need for Improvement

Project status visibility was identified as a key area of need for improvement. AE firms that participated in the study identified four areas to be improved regarding project management visibility. First, cost variance from original expected cost to deliver a project needs to be monitored closer. Secondly, ensuring projects are meeting predetermined KPIs throughout the project’s lifecycle needs to be a priority. Next, schedule variance from the original and proposed plan needs to be carefully watched. Finally, there needs to be a focus on client satisfaction.

If the top three areas are missing the target, then the client is going to have an unsatisfactory experience dealing with your firm. However, client perspective can be better managed if your firm uses the right tools. One tool that can help firms ensure client satisfaction is the Client Feedback Tool. Learn more about the Client Feedback Tool and how it integrates with Deltek Vantagepoint and Vision to give your firm better visibility into its project delivery. 

Projects are Busting Budgets

AE firms reported that 29% of projects ended up being over budget. Even more worrisome, this is a 9% increase from last year’s findings. Looking more into this finding, one might wonder if those responsible for managing projects have the information to keep project budgets on track. And let’s go deeper. Firms are also reporting that 36% of projects were behind schedule and only 58% of firms reported that they are confident in project reporting accuracy. These findings show that keeping to project budgets is a clear area of need for improvement for all AE firms.

Wrapping it All Up

For AE industry employees or executives, it is common knowledge that project management and delivery is the heart of their business. To continue to succeed in an extremely competitive industry, AE firms need to take a hard look at their project management processes. The challenges and areas identified in the 40th Annual Deltek AE Clarity Study can be easily addressed if they become a priority for firm leaders. You can check out all the details about project management challenges in the latest Clarity Study.

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Topics: Professional Services, Deltek Clarity Report

Business Development Trends Discovered in the 40th Annual Deltek AE Clarity Study

Posted by Ryan Felkel on Wed, Sep 18, 2019 @ 12:20 PM

40th Annual AE Clarity Report

The 40th Annual Deltek AE Clarity study uncovered some interesting trends regarding business development from last year. The results indicated that AE firms still are struggling to find new opportunities early enough to convert them into sales. Additionally, a large number of firms that participated in the study identified the need to be more strategic about which potential projects to pursue. Here’s a quick summary of some business development findings from the 40th Annual Deltek AE Clarity Study.

Business Development Challenges

One of the most significant findings in the study is that firms have trouble with prioritizing time to nurture client relationships. More importantly, this is a leading challenge for the second year in a row. The seller-doer model seems to be the go-to business development method for AE firms where not enough attention is given to focusing on potential new business opportunities. If firms stay with this outdated model, this trend will unfortunately continue.

Diving deeper, the number 2 and 3 challenges firms reported are increased competition and identifying new prospects. In regard to competition, this is going to occur in any industry and this challenge sounds more like an excuse. However, identifying new prospects has a direct correlation to firms using the seller-doer model. 61% of firms stated that project managers are almost always responsible for business development. With project managers being tasked to do their core job, delivering projects, they struggle in their efforts to successfully generate new business.

Revenue Growth Forecast Findings 

Less shockingly, net revenue growth remained at 5.1% on average. This is very little change from last year. So, why is this not surprising? The findings that firms lack having a dedicated business development team pinpoint the reason for net revenue growth staying stagnant.

Another notable discovery from the study is that smaller firms continue to pursue small projects that have shorter timelines as opposed to focusing on trying to win larger long-term projects. This business development model is proving to be less effective for generating increased revenue year after year. Smaller firms should take this under consideration when making plans for long term growth.

Key Takeaways from the 40th Annual AE Deltek Clarity Study 

Out of all the firms that participated, less than half of the firms stated that they have a formal business development process. This is astonishing since creating new business is essential for future firm growth. Even more, firms are continuing to use the seller-doer model, and as a result, project managers face the challenge of balancing expectations which can hinder the success of their projects. Learn more by downloading your free copy of the 40th Annual Deltek AE Clarity Study.

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Topics: Professional Services, Deltek Clarity Report

Introducing the Vantagepoint Feature “Hey Deltek”

Posted by Ryan Felkel on Wed, Sep 11, 2019 @ 11:20 AM

Deltek Vantagepoint-1

If you’re a Deltek Vision user, you’ve probably already heard about the latest and greatest version of Vision…Deltek Vantagepoint. Even better, Deltek keeps announcing new features that have never been available before in Vision. One of the coolest features to be offered now is “Hey Deltek.” Just like “Hey Siri” and “Alexa,” “Hey Deltek” allows users to speak directly to Vantagepoint to do several different things. Here’s a look at what “Hey Deltek” can do for you.

Add a New Lead

On average, an architecture and engineering (A/E) firm adds 15 new leads to its CRM system per week. First, consider the time it takes to develop one lead into an opportunity you want to include in your CRM system. Now, think about the effort required to record a new lead into the CRM system - typing here, checking a box there etc. With “Hey Deltek,” you can enter the information and start developing a lead in seconds.

Using “Hey Deltek,” manual input is effectively eliminated. Simply type or say, “Create new lead Jane Doe.” As a result, “Hey Deltek” can save employees hours a week allowing them to focus on more important matters.

We All Need Reminders

My memory is sharp, but I still need reminders. I frequently use them to ensure that I follow-up with clients and get other tasks completed. Unfortunately, creating these reminders in Vision or Outlook takes a lot of time around 2 minutes each. With “Hey Deltek,” creating a reminder takes about 15 seconds. So, using “Hey Deltek” to create reminders will again save you a lot of effort that can be put forth on other things.

Even Works with Projects

Beyond business development, “Hey Deltek” works for project managers as well. A/E project managers often handle multiple projects having to stay on top of which stage projects are in and record time against them. “Hey Deltek” allows project managers to quickly access projects. Just simply type or say what project you want to open. This convenient feature of Vantagepoint adds more functionality and better searching techniques for users.

Moving Forward with Deltek Vantagepoint

If you’re hesitant to make the upgrade to Vantagepoint, know that Deltek has made a concerted effort to ensure that the transition is smooth and seamless. “Hey Deltek” is just one amazing feature included in Vantagepoint. Even more, the “Hey Deltek” capabilities continue to grow as will Vantagepoint. If you need more information about Vantagepoint, reach out to a member of the Full Sail Partners team and make sure to watch our webinar series about preparing for Vantagepoint.

Deltek Vantagepoint

Topics: Building Business, New Features, Deltek Vision, Deltek Vantagepoint, Network

Financial Trend Findings from the 40th Deltek AE Clarity Study

Posted by Ryan Felkel on Wed, Aug 21, 2019 @ 12:53 PM

40th Annual AE Clarity Report

You’ll be happy to know that the 40th annual Deltek AE Clarity Study found that AE firms’ financial metrics increased across the board. However, what you’re really wondering is how your financial metrics matched up against the findings of the AE Clarity Study. By comparing your metrics with the study findings, your firm can see what it must do to ensure it has an even more successful future when compared to past performance. Here are some financial highlights from the 40th Deltek AE Clarity Study.

Hurdles that Firm Financial Leaders Experience

A shocking reality to many firms is that finding and retaining top talent is becoming very costly. In fact, this challenge was introduced to the survey this year, and it was the largest one faced by financial leaders last year. To put this into perspective, it typically costs a business 1% to 2.5% of its total revenue to hire and onboard a new employee according to a study by MIT. For a firm with over $1 million in revenue a year, this is an astonishing amount.

However, there are other standout challenges firm financial leaders faced. Some of these included business development challenges such as increasing profitability and managing firm growth. But when closely reviewing the Clarity Study financial findings, human capital management issues were very common. Succession planning and ownership transition ranked as the fourth leading challenge for financial leaders.   

Key Financial Findings from the Deltek AE Clarity Study

Overall, the 40th Annual Deltek AE Clarity Study found that the majority of firms are improving their financial performance. For instance, the study found that firms have increased their operating profit on net revenue by 1.2%. On the other hand, firms experienced only a 0.4% increase in utilization rate and a 0.05% increase in net labor multiplier.

Surprisingly, overhead rate changes affected firms differently depending on size. Whereas large firms experienced a decrease by 5% in their overhead rates, small firms reported an 11% increase. However, the increases are most likely associated with firms making investments back into their companies and their employees. Other reasons for these increases may be related to inflated office space costs and the general increase in the cost of doing business. Keep in mind, this is just a summary of the financial findings, and you will find more details in the actual report.

Finding Ways to Overcome Financial Hurdles

During the study, firm financial leaders were asked to rank their top three initiatives to overcome the hurdles they face. The majority listed business process improvement as the most important. This makes sense, as a more streamlined business process will quickly cut hidden costs. The study next revealed that firm project managers often lack financial understanding. Therefore, firms are increasing financial training for project managers to create more profitable projects. Lastly, financial leaders want to improve business forecasting which will also help with human capital management.

Benchmark Your Firm Against the AE Industry

The Annual Deltek AE Clarity Study is a great tool that allows AE firms to compare themselves to others in the industry. What makes this study so significant is that it uses information from over 700 companies of all sizes with over 2,500 individuals responding to the survey. As a result, the information contained in the study represents the entire AE industry. So, take advantage of this free study to discover how your firm measures up to the industry standard.

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Topics: Professional Services, Deltek Clarity Report

Get to Know the Deltek Learning Zone

Posted by Ryan Felkel on Thu, Aug 01, 2019 @ 01:36 PM

Deltek Learning Zone Have you ever wanted to learn how to get more out of your Deltek products? Well, Deltek has a solution for you! If you’re a go-getter, you’ll find the Deltek Learning Zone (DLZ) a great tool to expand your capabilities. Let’s take a look at how you can access what DLZ has to offer.

Gaining Access to the Deltek Learning Zone

Here’s some side information before we go to deep. For starters, Deltek Vantagepoint and Vision are offered in two versions. One being on-premise, which means your firm hosts Vantagepoint or Vision on their own servers. The other being software as a service (SaaS). This means your Deltek product is hosted in the cloud and maintained by Deltek IT staff which relieves your firm of the burden on maintaining your software and having to have hardware to store your data. So, why is this important?

If your firm is a SaaS Deltek client, there’s some good news! You have access to the DLZ at no additional charge. If your firm maintains their own Deltek database, you still have access to the DLZ. However, there is a nominal fee your firm will have to pay to gain access.

Benefits of the Deltek Learning Zone

For starters, the DLZ is a learning tool. It allows users to access information and training materials about the Deltek products your firm utilizes. These resources allow you to learn more about the products you use and how to maximize them to reap all the benefits to improve your work performance. But wait, there’s more!

Sure, you want to get the most out of the Deltek products you already have access to. However, is there an add-on module that can help your firm streamline more processes? Well, you probably know the answer is yes if you’re an avid Deltek user. But you may not be sure of how they work and how easy they are to use. Well, the DLZ offers a simple solution for you to learn how these additional modules work and how easy they are to navigate.

Even more, many Deltek Vision users are preparing to upgrade to the latest Deltek ERP, Vantagepoint. However, many people are hesitant to change which is a natural instinct. Therefore, the DLZ offers several training tools to help overcome fears and answer the questions you have before upgrading to Vantagepoint.

Here’s What is Offered in the Deltek Learning Zone

Deltek created DLZ with the core understanding that people learn in different ways. As a result, they created several ways for you to increase your knowledge and proficiency with your Deltek products. For starters, they organized the majority of the educational materials on a role-based library. Meaning that it’s easy to find the right materials and training information that is specific to your job at your firm.

Futhermore, one person might learn by reading a document or watching a video, while others may need a more interactive environment. The DLZ offers several types of training tools to help users of all skills and to meet the needs of how different individuals learn. When you log into the DLZ, you choose to register for an interactive class or download on-demand videos and documents to get instant answers to your challenges you experience on a daily basis.

Do More with the Deltek Learning Zone

If you haven’t explored what is offered in DLZ, you may want to start searching through the resources available. The reality is, you have created a career in the professional services industry and it’s likely you’ll be using Deltek products throughout your entire career. With that said, you should take a deep dive into the DLZ to see what new things you can learn to make yourself your firm’s go-to resource for any Deltek related questions.   

Deltek Learning Zone

Topics: Support, Technology Solutions, Deltek Vision

Improve Your Email Marketing Response Rates

Posted by Ryan Felkel on Wed, Jul 03, 2019 @ 11:35 AM

Email Marketing Over the past decade, email marketing has become a leading channel to generate brand and product awareness. Even better, unlike snail mail, marketers are able to get actual information about who opened the email and who followed the call to action. As a result, marketers can quickly determine what messaging is resonating with their target audience. Let’s take a look at some of the things you can do to increase the effectiveness of your email marketing efforts.

Use a Good Sender Name

Having a good sender name is extremely important. People are less likely to open an email that comes from a “no-reply” sender name and email address. Instead, use a sender name and an email address that the recipient might recognize. For example, if you’re emailing existing clients about a new product offering, consider using the name of their account representative from your company.

Have a Strong Subject Line

Upon receiving an email, the recipient usually looks first to see who sent it and then reads the subject line. The subject line can be the determining factor as to if the email recipient will actually even open and read the email. Email subject lines should get to the point and not be too long.  Furthermore, clearly state what information you are sharing inside the email. Consider using triggers words like “sale” and “proven” to increase interest in your messaging. Lastly, always use the preheader text field that is available in all email marketing platforms. The preheader text provides a place to add a summary of the email.

Use Catchy Graphics

Graphics are an important element to an email. Maybe it can be something fun that relates to the messaging of the email or it might just be company logo. Graphics help break up the text and make the email less overwhelming to the recipient. Another type of graphic to consider is an emoji. Emojis have become very popular over the past few years and they are a great way to communicate.

Format and Layout

“The best email I have gotten is one that is a giant block of text,” said no one ever. For the messaging of your email, text should be short and broken up to make the email scannable for the recipient. Some ways to break up text are to use short paragraphs, lists and bullet points. As mentioned before, use graphics to help break up the text. Also, make sure the call to action is clear to the recipient. It needs to stand out and should clarify the next steps for the reader.

Test Different Days and Times

With a 40-hour work week, there are several days and times you can chose to deploy your email. By breaking up your target list of recipients, you can test several different days and times to send your email to determine which time is best. For instance, you might find that your targets are more likely to open emails in the evening. If this is the case and let’s say the email is going to several time zones, you may consider breaking up the target list by time zone and deploying the email to ensure all recipients receive the email in the evening of their time zone.

Segment Your Email List

One of the last things you want to do is send an email with irrelevant content to a recipient. If you’re promoting a marketing product, it is less likely that an accountant is going to find your information useful. Additionally, you do not want to be sending the same people multiple emails a week, especially with irrelevant content. This will likely result in high unsubscribe rates.

Start Improving Your Email Success Rates

Now to the most important thing…testing, testing, and more testing. A/B testing is a marketer’s best friend. A/B testing involves creating two different subjects, graphics, messaging, and format/layout to determine what resonates with your audience. Once you have created two versions, segment your target list in two and send one half one version and the other half the other version. Then sit back and start to compare the success of each email to determine what increased your email success rate.

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Topics: Building Business, Marketing

How Do You Measure Your Firm’s Success?

Posted by Ryan Felkel on Wed, Jun 05, 2019 @ 01:18 PM

Metrics Measuring your firm’s achievements and shortcomings are important to ensure continued future success. However, many firms are unsure of what factors indicate the health of their business. Also, some firm leaders believe one indicator, such as financial reports, is more important than other areas like talent management. Well, that is not necessarily the case. Let’s take a look at some of the indicators your firm should use to make informed decisions to improve business performance.  

Employee Recruitment and Retention Rates

One of the largest factors affecting the growth of architectural and engineering (A&E) firms is human capital management. Having the right people working on the right projects has a significant impact on the profitability and overall success of an A&E firm. From highlighting experienced staff members during the RFP process to actually delivering the project, talent affects all aspects of your business. Looking at recruitment rates, employee turnover rates and several other talent management metrics is essential to evaluating and measuring success.

Measuring Business Development

Wasted time on winning new business is very costly. Measuring win rates, revenue from top clients and net revenue growth will prevent wasted time. For some, this seems like a logical thing to measure, but many firms don’t track this information and they should. If you’re tracking these numbers and they continue to decline, then you know you have some major issues. You can quickly change this trend by evaluating what types of projects you’re winning and losing, and why.

Financial Metrics

Without a doubt, financial metrics are extremely important. Knowing things like total employee cost, overhead rate, and total payroll multiplier are necessary to keeping your finger on the pulse of your business. Diving deeper, measuring performance using metrics like operating profit on net revenue, utilization rate and the net labor multiplier from previous years can provide a clear picture of the performance of your firm. If these numbers slip in a negative direction, other metrics mentioned in this article could provide useful insight.

Overlooked Technology Needs

Historically, the A&E industry has been hesitant to adopt new technology. As a result, firms continue to use outdated technology that lacks the abilities to keep up with the changing A&E industry. This has become the number one hurdle for little firms to keep up with larger and faster growing firms. A&E firms need to evaluate their current technology.  Are your systems connected or is there a lot of manual entry from one software tool to another? Is your software up to date? Being behind on technology can greatly hinder your ability to even measure performance indicators.

Comparing Your Firm to Others

Ok, let’s assume your firm will measure these metrics and keep track of them. Even better, it will use current metrics and compare them to historical metrics to notice trends. However, does it compare itself to other A&E firms to determine where it stands in the industry? Well, it can. Make sure to download the Deltek A&E Clarity Industry Study to see how your firm stacks up against your competition. The Deltek A&E Clarity Industry Study is created in collaboration with ACEC, the Association Consulting Engineering Companies Canada, SMPS and AIA. The data collected comes from 386 US and Canadian firms and draws from over 250,000 data points.

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Topics: Professional Services, Deltek Clarity Report