Full Sail Partners Blog (13)

The net revenue growth forecast for A&E firms is the highest it’s been in 10 years. Based on the findings from the 43rd Deltek A&E Clarity Study, the industry has rebounded from the pandemic with full pipelines and an optimistic future outlook. Meeting that demand comes with serious challenges, with labor shortages and rising costs being most prominent.    

Firms are turning to technology to empower their teams and improve project delivery. They’re prioritizing the right investments over simply purchasing the newest technology. Here are the top insights from the study and some guidance for ensuring that technology investments deliver positive ROI. 

Top Technology Challenges for A&E Firms 

The top technology challenge professional services firms are facing is the inability to invest time in learning. With full project pipelines, firms are dedicating resources to completing client work, limiting the time they can spend on learning new technologies. Small firms struggle with this issue the most, though it’s a prominent issue for medium and large firms as well.  

Technology costs, which topped the list in last year’s report, was the second most commonly cited challenge. Firms are also struggling with prioritizing which trends apply to their organization. With so much technology to choose from, many firms are understandably unsure which trends to pursue. Finding the right fit, whether it be data science tools or digital twins—for the firm and for their client base—isn’t easy.  

Other challenges include educating employees and clients about trends, lack of champions to drive technology adoption and limited corporate openness to emerging technologies.  

A&E Firms Are Focused on Getting it Right 

Firms are honing in on the initiatives that enable them to take a pragmatic approach to technology adoption and integration.   

When asked about their top three technology initiatives:  

• 64% said creating strategic technology implementation plans.  
• 47% said educating staff on technology trends. 
• 46% said identifying and developing technology subject matter experts. 

This pragmatic approach is a good way to enter into digital transformation. However, firm leaders should be careful not to get stuck in a cycle of endless planning. One way to cautiously approach technology is to look for ways to expand usage of current tools. This can provide quick wins and competitive advantages without requiring significant investment or onboarding time.  

Internal Champions Can Take on Challenges and Lead Key Initiatives 

To take on technology challenges in the short term, firms should engage tech-savvy employees as internal technology champions. Technology champions can help improve the ROI of technology in the following ways:  

• Fill current skill gaps by leading the charge to incorporate technology into project execution.  
• Promote and expand adoption of existing technologies throughout the business.  
• Identify the most viable technology investments and trends for the firm.  

Only 36% of firms ranked this as one of their top three initiatives, meaning that many are missing an opportunity to address current gaps in technology planning and adoption.  

Which Technologies Should A&E Firms Focus On? 

To help guide technology planning, A&E firms should look at technology as falling into two buckets. Technology that supports project delivery, such as smart infrastructure and digital twins help firms remain competitive and address common challenges in the building process. Business-optimizing technologies, like data science and next-level project management tools can be used to automate repetitive tasks, empower workers to make more informed decisions, and ultimately improve client satisfaction.  

For more insight into which technology areas A&E firms should focus on, watch the webinar.  

Focusing on these areas will enable firms to address some of their biggest concerns: 

• Attract and retain talent by appealing to the next generation of employees, who want to work with companies that give them access to the latest technology.  
• Prepare for disruption. As innovation continues to transform the A&E industry, the right technology will help firms future proof their businesses.  
• Increase revenue streams by identifying the ideal services and delivery methods that lead to competitive advantages and higher profits.  

Dive Deeper Into the Technology Insights from the Deltek Clarity Study 

Firms aren’t investing in technology for technology’s sake. They’re focused on making the right investments that will enable them to increase productivity and compete for projects and talent. With the right guidance, they can take on the opportunities and challenges ahead. For more technology insights, download the full report.  

I have to admit that I have never once watched an episode of “Keeping Up with the Kardashians,” nor really any reality TV shows except my one-time foray into one of those “Housewives” shows while I was in a hospital recouping from a surgery. I would categorize these types of shows as guilty pleasures. There are people I know and respect that watch reality TV, and I too have my own guilty pleasure - I like to read People magazine, and occasionally I’ll even dip into a US Magazine in the check-out line. However, despite my interest in what’s happening in the world of celebrities, my biggest concern with reality TV is my general disgust for the million-dollar contracts involved. Yet contracts are necessities, right?   

Making a strange leap from reality TV to contract management in the architecture and engineering (A&E) industry, let’s talk more about the necessity of managing contracts. Contracts and agreements are imperative in almost all business interactions, even the simplest things these days. For those of us in the A&E industry, there could be any variety of risks that are mitigated by a contract. Not only are some of the A&E contracts protective in nature, helping to ensure compliance, safety, etc., but there are also project-related contracts that dictate important financial amounts related to the lifecycle of the project itself. 

First Off, Deltek Vantagepoint Drives Efficiencies 

The good news here is that Deltek Vantagepoint, out of the box, helps you manage contracts directly in the Projects hub. In fact, the Deltek Vantagepoint knowledge base states: “The primary overall benefits of the contract management feature in Vantagepoint are that it helps you coordinate the contract process, keep everyone up to date on its current status, and ensure that the compensation amounts that will be billed and received as you execute the project are in sync with the amounts spelled out in the contract.”  

This is such a valuable piece of functionality that Full Sail Partners’ Principal Consultant, Rana Blair, has done two different mini demos on the subject. In an introductory mini-demo, Rana shares an overview of contract management - it covers configuration considerations, contract document columns and entry, and the use of the 'Synchronize Contracts to Fees' feature. One of the main takeaways from this important twelve-minute video is that firms that leverage the Project hub tool Contract Management can enjoy benefits in the measurement of revenue and backlog as well as identify risks.  

Contract Management is Integral to Successful Projects 

A big part of why reality TV is so darn successful is pure drama. Whether it’s learning “secrets” or seeing inside the lives of others, at the root of it all is transparency. The exact same is true for projects and their contracts. If you can’t determine the health and status of your project, how can you predict the financials of your firm? Project based firms must rely on exposing the differences between contract amounts and expected compensation. Deltek Vantagepoint can help you control these amounts (both the contracted total and the compensation amounts) as well as how they matter to the project work breakdown structure. This type of transparency, at any point in the life cycle of a project, sets your firm up to avoid surprises. 

Solid Contract Management is Story Telling 

Yes, reality TV shows tell stories. Are their stories worth the thousands and millions of dollar contracts? I personally don’t think so, but I know many of our clients’ contracts are indeed worth that much. A good story not only conveys a message that needs to be told, but it also usually has a happy ending. Despite reality TV, in the real world of projects, mutually beneficial success derived from all parties feeling they received value is the happily ever after. Using Deltek Vantagepoint Contract Management, these happy endings can be ensured. 

All About the Money 

Deltek Vantagepoint’s Contract Management reporting capabilities can help your firm not only stay informed on the status of a project, but you can also adjust upward or downward (but let’s be real, most of the time it’s add-on work) as the scope changes. This helps firms scope better in the future. Contract management can even help salespeople and seller doers get their credit or reward for winning the deal. Just like how a reality TV show can spin out one small situation into a million different possibilities for viewer consumption, Deltek Vantagepoint allows you to audit your own contracts by a variety of filters such as Type, Status, or Date. 

What About the People?  

Reality TV about famous people like the Kardashians pulls in the revenue. Similarly, a People Magazine story about Brad and Angelina most likely would catch my eye. It’s all about the people, and project-based firms’ client projects at their core are all about the people involved. 

Contract Management inside of Deltek Vantagepoint allows for workflows to be arranged so that stakeholders and project managers can be alerted when important contract-related events happen. Vantagepoint can even automatically fill in fields based on the stages of a particular contract.  

Learn More about Advanced Features 

While Contract Management in Deltek Vantagepoint may not have the pizzaz as some of the weird stuff on TV or in the magazines in the check-out line, to those of us in the AEC industry, I think it might warrant a little bit of “geeking out” because of the great benefits to project-based firms. Taking what we have learned about reality TV, let’s leverage terrific tools for the AEC industry to bring in even more revenue by telling real stories of real projects in real time through the power of Deltek Vantagepoint. For more about the Advanced Features of Deltek Vantagepoint Contract Management, check out Rana Blair’s second min-demo on Contract Management. This one goes a little deeper than the introductory one.  

Year-end is the final accounting process to close “the books” at the end of each year. With 2023 just around the corner, it is never too early to plan for your year-end close. Planning and organization on your part can make the year-end process less challenging for the entire accounting staff.   

Take the Time to Document and Get Organized 

As always, you should take the time to document your year-end procedures. Not only the tasks performed in Deltek Vantagepoint and Vision, but all accounting tasks you perform should be documented so that you have a comprehensive guide that you can refer to every year. It is also vital that you create an accounting calendar.  

The accounting calendar is not just for year-end, but for month-end and quarter-end tasks as well. This calendar is a schedule of anticipated dates for financial activities. You should also develop a year-end checklist to make sure you don’t miss anything. One other tip to make this process go smoothly is to make sure that you are performing your month end reconciliations on a timely basis. 

Common Year-End Tasks 

Some of the more common year-end tasks for most companies are: 

• Reconcile All Cash Accounts - Verify all transactions have been posted into Deltek Vantagepoint/Vision to ensure your general ledger balances match your bank statements. Make adjustments as required. 
• Credit Card Reconciliations – In order to ensure all credit card transactions are captured, make sure all expense reports are entered and posted. 
• File Reconciliation Report – This report should be run at month-end and at year-end. This report identifies discrepancies between the GL and the subledger reports. 

• Final Invoicing – Process all client invoices for the fiscal year. 
• Review Outstanding Accounts Receivables - Follow up with clients who have outstanding accounts receivable beyond 30 days. Send past due statements and/or simply give them a call. Enter the results of your collection efforts in the comments section of Vision Invoice Review. Year-end is an excellent time to collect your outstanding receivables. If you determine there is uncollectable AR, be sure to write those invoices off. 
• Review Unbilled Detail - Time and expense transactions that cannot be invoiced to clients should be written off at this time. 
• Fixed Assets – Fixed Assets are larger purchases that are made throughout the year (i.e., equipment, automobiles, furniture, computers, etc.). Check to see if all fixed assets reported on the balance sheet are still owned. If not, record the sale or disposal of these fixed assets. Verify the depreciation on your fixed assets as well. Then make any necessary adjustments. 
• Employee Expenses and Accounts Payable - Verify that all accounts payable vouchers have been recorded in Deltek Vision/Vantagepoint. Make your 401(k), SEP IRA, and Simple IRA contributions, if you have not done so. Try and pay all your vendors and employee expense reports by year-end. 

• Notes Payable - Verify notes payable (i.e., loans) amounts on your balance sheet match the statements from your lenders. Then make adjustments if necessary. 
• 1099 Forms – Order 1099 forms. Make sure all W-9 forms from your vendors and/or contractors that are paid $600 or more throughout the year are on file in the Firms Hub in Vantagepoint or the Vendor Info Center. Don’t forget 1099s should be mailed by January 31st. 
• W-2s – Order W-2 forms if you run payroll in Vantagepoint/Vision. W-2s should be mailed by January 31st. 
• Budget for Next Year - Create your GL budget for the new year. 

Be Prepared to Close Out the Year 

In Deltek Vantagepoint and Vision, opening the 1st period of your fiscal year also opens the new fiscal year. Depending on your security rights, you can still process in the prior fiscal year if needed. 

There are several initialization utilities that need to be performed. For example, Open New Period (fiscal year), Open New Benefit Year, 1099 Initialization and Open a New W-2 Quarter/year if you are using the payroll module. Deltek Vantagepoint and Vision will generate a posting log for the initialization utilities. If your Vantagepoint or Vision database is configured for Multicompany, the initialization utilities need to be run in each company. The only exception is the Open New Period utility, which opens for all companies at once. 

Deltek will issue a Year-End update at the end of December containing tax updates for payroll users. Also, be on the lookout for Deltek’s Vision and Vantagepoint Year-End guide for more detailed information on year-end closing. 

The data from the 43rd Deltek A&E Clarity Study shows that the opportunity outlook for A&E firms is bright. However, there are significant challenges to seizing that growth. Although net revenue growth is forecasted to grow to 17.6%, operating profit on net revenue is down by 6%. Recruiting and retention challenges loom large over firms, undermining their ability to meet demand and extract profits.  

Here are the top takeaways from the study, along with guidance for navigating the challenges and opportunities ahead.

Labor Challenges and Growing Pains Are Top Stressors 

Labor challenges are front and center for A&E firms, as finding and retaining qualified staff ranked as the top financial challenge. Forty-four percent of respondents said it was their top challenge, a sharp increase from last year. In this highly competitive job market, A&E firms have more open positions, and the cost to acquire new employees has increased. To win over candidates who have plenty of options to choose from, firms are offering increasingly attractive (and often costly) compensation packages.  

Managing growth was the second most commonly cited challenge. Demand is high, leading to an 18% growth in estimated net revenues. But with rising demand comes new challenges. Professional services firms are challenged with bidding competitively and ensuring the timely completion of work. Labor issues are a contributor to this challenge since firms need to fulfill staffing needs to meet current and future demands. 

With inflation and labor costs cutting into profit margins, A&E firms also said increasing profitability is a top concern. Collection periods increased by nearly two weeks this year, and many firms must work diligently to complete work on time, invoice quickly and collect payment as soon as possible. Encountering delays at any point in the process threatens profits and their ability to grow.  

Staffing Challenges Impact Key Metrics 

Persistent staffing challenges aren’t just keeping firm leaders up at night—they’re impacting financial performance. Here are some of the most notable metrics: 

• Operating profit on net revenue dropped to 12.8%, a level last seen in 2015.

• Overhead rates increased to 160%, a 14% increase. 

• Utilization rates dropped to 58.5%, the lowest level of the last 10 years. 

After rising steadily over the past 10 years, operating profit on net revenue dropped significantly. This is largely driven by an increase in overhead rates. As firms face longer project ramp times and non-billable periods while backfilling roles, overhead rates rise. Higher employee turnover is also a contributing factor to lower utilization rates.  

Performing the Backlog Balancing Act 

Backlogs increased by more than three weeks year-over-year. It’s an indication that, while firms are in demand, they need to perform a delicate balancing act to complete projects on time. Bidding, scheduling, and labor planning must be precise, otherwise, increased activity can hinder project delivery, which only reduces client satisfaction in the long run. Firms that can effectively manage expectations will be able to reduce their backlog to sustainable levels. 

Growing backlogs are influencing the average collection period, which increased by 13 days. Firms wait for nearly 77 days, on average, to receive payments on accounts receivable. This is a return to the average collection period seen in 2012 and 2013. Back then, firms were able to lower this rate in the following years. To reduce the average collection period now, they may want to look at returning to those previous strategies.  

For a deeper dive into the key financial metrics from the study, watch the webinar.  

Looking Ahead 

Financial leaders of A&E firms are focused on meeting day-to-day challenges. When asked about their financial priorities for next year, firms selected training project managers on financial management and improving business processes as their top two choices. This is in line with the results from last year. Notably, firms are less concerned with better forecasting, better growth management, and organizational changes and realignment than they were last year. This indicates that they’re focused on improving the efficiency and effectiveness of daily processes. 

The most successful firms will position themselves for success by also focusing on the HR challenges they face. Unconventional benefits, loyalty rewards, and engagement programs can help companies attract and retain the employees they need for the years ahead. Forty-one percent of firms said that they plan to make talent acquisition and retention investments one of their top priorities next year. Those that make the right decisions will stand out from the pack.  

Get More Financial Management Insights 

Despite the challenges A&E firms face, it’s possible to seize the opportunities ahead. By looking back to previously proven strategies and preparing for future demand, financial leaders can make the most of the market. For more financial management insights, click below to download the full report.  

It’s hard to believe that it is already so late in the year. It feels like not so long ago we were trying to beat the heat with cool drinks on sandy shores. But now the weather is beginning to cool down and the leaves are changing color, and that can only mean one thing: time to hunker down and manage the firm’s holiday contact list! Hopefully, this process has already been started but if not, this article shares a couple of tips on how using Deltek Vantagepoint features and functions can help maintain the firm’s holiday contact list and keep it clean for the future.  

Data Clean Up 

Before getting into the nitty gritty of data cleanup, let’s do a quick review. Every contact needs to have at least five parts: contact name, job title, firm name, email address and firm address. These five fields are standard in Vantagepoint, and with this information, marketers can build basic lists to use for both email marketing and direct campaigns.  

Then there are pieces of contact information that can be considered “nice to have.” These include attributes like market, rating, source, contact owner, mailings and segment type. These are not essential to the contact, but they can help narrow down who they are and what exactly the contact means to the company. 

Once marketers have identified their must-have and “nice-to-have” contact fields, head over to Vantagepoint and view the contact in list view. Using this Vantagepoint feature, allows marketers to quickly see what contact data is missing or outdated. See the screenshot below. 

This feature isn’t just in the Contacts hub either, so be sure to look for it in other hubs that may need some cleaning up as well.  

Send More Emails  

To avoid ending up with a bunch of old contacts, the best advice is to send more emails! Of course, don’t just spam the contacts, because that would just drive them away. Instead, think about sending newsletters weekly and/or monthly. By sending regularly email marketing campaigns to contacts, marketers will get contact information back such as bounced email addresses. This piece of information could indicate that the contact has moved firms or retired. Doing this throughout the year will help make the effort of creating holiday contact lists less daunting.  

Create Marketing Campaigns for Segmented Lists 

In the same vein as the last tip, use Vantagepoint Marketing Campaigns for list segments. To do this, create a new Marketing Campaign record with the name “List-Holiday Card,” for example. Then associate different contacts based on their segments (whether it be geographic, demographic, etc.) to add them to a list aka the Marketing Campaign record. With these new marketing campaigns more emails can be sent, and as contacts are created and updated, they can be added to different lists. 

Monitor New Contact Creation with Scheduled Reports 

Another good practice is to have Deltek Vantagepoint monitor what new contacts were created in the database. Deltek Vantagepoint allows the user to send scheduled reports of what contacts were created in a set period of time (i.e. weekly, monthly, etc.). When these are set up, a report will be sent to the user consisting of all the new contacts and will include who initially created the contact and if there is any missing information that needs to be added. In the case that any of the aforementioned key fields of the contact are missing, the user can follow up with the contact creator and ask them to fill out the required information. This feature can also be used for projects and employees, but in our case monitoring contacts is best. 

Use Workflow Warnings and Errors for Must-Have Contact Information 

Finally, make sure you are using workflows to your advantage. These workflows can be set up to indicate errors and warnings when a contact has missing information. Warnings will simply alert the user that the contact needs more information, but they will allow the contact to be saved nonetheless. Errors on the other hand will completely stop the user from saving the contact. Both of these options are effective ways to keep a contact list clean but be sure to choose which one to use carefully.  

See these Contact Management Tips in Action  

These are just some ways to utilize the Deltek Vantagepoint system features and functions to manage contacts, even outside of the holiday season. To see these features in action, click the image below to watch a replay of the webinar, A Modern Approach to Managing Holiday Contact Lists. 

We encounter many numbers throughout our lives. Over time, perhaps we learn which ones matter to us and which ones are just a number. So, when is a number just a number? One place to look is with Deltek Vantagepoint project numbers.  

After working countless hours with firms for their Deltek Vision to Vantagepoint, some of the more engaging and attention-grabbing conversations include project creation and project numbering. It turns out some firms rely quite heavily on project numbers. While this is technically not wrong, it may just be causing more pain than value. Wait until your Vantagepoint users see how much easier things can be in Vantagepoint when you stop caring so much about the number. 

New Deltek Vantagepoint Projects Hub 

The projects hub has expanded its use in Vantagepoint. It now captures the entire life cycle of a project - from pursuit through awarded and completed project. This means that a project number is assigned from the start.  

Because of this, the project number initially created is just that-a number. It doesn’t really matter. GASP! 

Project Numbers can now be “Dumb” 

In the past, many Deltek Vision users set up “smart” project numbers. Other users may have used numbers so complex; they could call them “brilliant” numbers. Over time, project numbers were heavily relied on to tell a story of the year it was created, the client, the number of projects the firm had with the said client, and so on.  

While some firms invested in scripting to automate the smart numbers, others had their staff complete forms to submit to accounting and perhaps a pair of employees was responsible for assigning the next project number based on a coveted spreadsheet. Get rid of the firm’s project setup forms forever with Vantagepoint! 

Let the System do the Heavy Lifting with Autonumbering  

 Who doesn’t want to make their workday easier? One-way Vantagepoint helps with this is by setting up autonumbering. Deltek Vantagepoint project autonumbering, proper education and training can give users independence to enter and track their own pursuit and project efforts. Talk about streamlining processes!  

 The autonumbering feature in Deltek Vantagepoint automatically generates an identification number for new records, including project records. And, in the autonumbering setup firms can define the structure of the project number to match the business requirements.  

How to Configure Autonumbering 

A Deltek administrator can enable automatic numbering by going into Settings > Workflow > Numbering. See the screenshot below. 

Then hover over the row of the system numbering format to update. For this example, select Project then go to the column called Auto Number Source. See in the screenshot below the various options to create an auto number source including Expression, Stored Procedure or Web Service.  

Below is an example of using the Expression Auto Number Source. When that option is selected, there are a few options. First, is that autonumbering can be set up for Overhead, Promotional and Regular project charge types. Once the charge type is selected, the Project Auto Number Format can be defined by inserting a row for each component of the project number.  

In the example below, this client wanted to show the year the project record was created in four characters, the next project in the sequence beginning at 439 with two leading zeroes, and, finally, a period followed by the project center level of office.  

Below the Project Auto Number Format grid are a few fields specific to which row is highlighted. In this screenshot, the “characters” row is selected so it’s displaying that specific row’s sequence number length, sequence number position and starting sequence number, 439. As each row is built, the sample value field will update.  

Once that is defined and saved, every time a new regular project is created, the number will automatically populate. Users won’t have to think about which project number to use next nor fill out a form to get the “next” project number from a separate log or notebook. See the screenshot below for how this will look for users. 

Autonumbering is defined as a Regular project record. 

 Autonumbering is defined as a promotional project record. 

Don’t Stop with Just Project Numbers 

The autonumbering function is not just available for project records. Deltek Vantagepoint has made autonumbering available for employees, firms, marketing campaigns, equipment and user-defined hubs. And, other areas with numbers can be automated too including phases, tasks, accounts, units, accounts, vendors, company, office, discipline, and more! 

Once you’ve crossed over to the autonumbering dark side, you’ll want to set it up for everything in Deltek Vantagepoint. Click below to learn more about Full Sail Partners Deltek Vision to Vantagepoint upgrade assistance services. 

Throughout the Driving Revenue Growth with Digital Marketing Series, marketers have created and implemented the marketing campaigns and collected results. Now it’s time to analyze and optimize the marketing campaign and strategy to achieve even more efficiency towards the marketing SMART goals.  

This article shares just a few of the items to review to optimize digital marketing performance. Areas to optimize include the website, conversions, content promotion and email marketing. And this article just scratches the surface but will offer some ideas to begin.  

Improving the Website 

The firm’s website is the starting place for any digital or online marketing program. It’s the key piece of online real estate that marketers have complete control of and have access to the background statistics. Some of these key statistics to track will be based on the marketing campaign goals. Others will be general performance statistics to gauge the overall site performance such as overall website traffic, time on page, etc.  

Some areas to focus on to optimize performance when it comes to the firm’s website include: 

• Highest traffic volume pages – Look at the specific site pages that are getting the most traffic. Identify what, if any, SEO elements are on the page including specific keywords. Look at where the traffic is coming from to that page. Also, check to make sure there is a call to action (CTA) on that page to either capture that visitor’s information or move them to another page to continue the visitor's journey.  
• Most read blog posts – Similarly to the site pages, look at the most read blog posts. Which articles or topics are getting the most views? Marketers can assume that this is the type of content or topic that their audience is interested in. Work to create either more content around this topic or repurpose those specific blog topics into other content formats.  

Increasing Conversions  

A conversion can be any action a person takes that the marketer wants them to do. For example, if there is a form on a webpage, the call to action (CTA) for that page would be to fill out the form. Each time that CTA is completed, it’s a conversion. Conversions don’t always have to be filling out a form; it can be watching a video or requesting a meeting. The idea is that the person took an action, and that action is the conversion.  

Once marketers set up their CTAs and start collecting data, it’s time to see how to increase the number of conversions. Some ways to do this are: 

• Use CTAs – This may seem obvious, but so many AEC websites do not have any CTAs anywhere on their websites or there’s just one – “Subscribe to ACME Engineering’s Newsletter.” The easiest way to increase conversions is to start using CTAs and inserting them throughout the entire website.  
• Make CTAs relevant to the page – Even though we just said to use CTAs, don’t just put them on every webpage and think it is done. Marketers will want to use different CTAs that are relevant to the topic of that blog or page. For example, an architecture firm has a checklist called “10 Ways to Derail an Elementary School Renovation” that they want people to download. A good place to put that CTA is on project profile pages of elementary school renovations, not their healthcare project pages.  

Using Specific Landing Pages 

Most website management systems like WordPress or HubSpot are easy to set up and update. But sometimes it’s often difficult jumping through internal hoops to get new web pages or new navigations approved internally. So, that’s where landing pages are a great alternative, especially since they are easy to create with software like HubSpot or Leadpages.  

A landing page is just that – one page where marketers can direct specific traffic too. Some ways to optimize landing pages are: 

• Minimize the design – Remove any design elements, navigation, or CTAs, that would distract the viewer from taking the one action you want them to take. For example, remove the navigation/menu bar, remove the firm’s social media links, etc.  
• Write a strong heading – Continuing with minimizing the design is to have a strong headline. This headline should draw the viewer in and make them want to read more. It should either describe a pain point they are looking to solve or some kind of aspiration they are trying to get to.  
• Describe the benefits – The landing page should be promoting the goal of the marketing campaign. And that marketing campaign should be benefiting the potential client. Under the headline, describe what the item is and the benefits the potential client will receive. Be clear, concise and to the point. Less is more here.  
• Place the form above the fold – Most of the time, landing pages have some type of form for the viewer to complete to get something (a PDF download, checklist, case study, etc.). Make sure the viewer doesn’t have to scroll down to see and fill out the form. Seconds count, and if it takes even just a second longer to realize there’s a form, you might lose them.  

• Determine the right questions – There’s a balancing act between asking for enough information and too much information on the landing page forms. Firms often want all the information they could get about a lead, but the lead will balk at having to fill out too many fields on a form. Marketers should determine the right questions to have on their forms to qualify and segment leads, and not one more. This is usually done by testing and then optimizing. 

In online marketing circles, the conversion rates of landing pages are somewhere between 5-15%. But marketers should be tracking their own conversion rates and then use these strategies above to make changes and see if that rate increases.  

Promote Even More 

A previous article discusses how important it is to promote the content and ways to do that. Once marketers begin promoting, they can use that information to make the promotion even better. Some ways to do this include: 

• Determine the best channel – Once marketers start getting data, they can see which channels are bringing in the most visitors and highest conversions. Once they know that, they can lean into that channel even more. 

• Consider each social media channel – If the firm promotes content on different social media channels like LinkedIn or YouTube, how can the content be re-formatted into different media types or different language used that corresponds to that specific channel?  
• Going back to the basics – Marketers should make sure that the graphics and media are appropriately sized and formatted for each social media channel.  
• Test frequency to find the sweet spot – Each channel is going to dictate just how often the firm posts content. Once marketers start getting results, they have a baseline and then can start testing posting more or less to see how that affects results.  

Don’t Forget About Email Marketing 

Part of every online marketing program should include an email marketing component. AEC firms have hundreds, if not thousands, of contacts in their databases and should be communicating with those contacts (with proper permission) on a regular cadence. This is even more important for a specific marketing campaign, like the one they are trying to optimize.  

Here are just a few email marketing tips to get great performance: 

• Make sure the marketing emails are coming from a person, not a generic email address like “Info@company.com” 
• Write clear and clickable subject lines. Take time to develop the subject lines. Don’t wait to just write something to get the email sent. Use this tool to test each subject line. 
• Limit CTAs to only one per email campaign, especially if it’s part of a specific marketing campaign. Make sure every link in the email goes to that specific landing page or CTA.  
• Segment and personalize as much as possible. 

• Optimize for mobile.   

Watch this replay where an email marketing expert shared even more email marketing advice. 

Always be Adjusting and Refining 

Once you begin your digital marketing program, start to analyze results and then optimize, it doesn't end there! Marketing is ever evolving with new interests, new content formats and new preferences in which our targeted audiences like to consume our content. So as marketers we constantly need to be keeping up with trends, especially out of our industry, looking at our metrics, and adjusting our marketing efforts. The good news is that this is fun and creative, and our job demand will remain high.  

The professional services industry is still currently facing challenges ranging from financial rebounds and technological transformations to the need for human capital management (HCM) adjustments. Specifically, some of the top HCM trends affecting the professional services industry are:

• The expectation of mobility - Employees and job seekers are looking for companies that have the structure and technology to accommodate remote work. Also, many companies have redesigned their physical office layouts and performance management plans to account for remote staff.
• Power shift to employees and applicants - The shortage of viable talent has shifted the supply and demand dynamics where the employees and candidates feel empowered to ask for what they want and have options if those requests are not accommodated. 

• Struggles to find the right fit for positions due to skills gap issue - Due to the great resignation and the influx of early retirees, there is a gap between those seeking work and those actually qualified for the hiring needs. 
• Workplace balance is no longer a “buzz” term or trend; it’s a real thing - The pandemic caused most to reflect on their priorities and many changed their mindsets, habits, and lifestyles to cater to the well-being of themselves and their loved ones, even if it involved making employment sacrifices.

What does HR have to do with these trends?

The human resources function is key to effectively addressing these HCM shifts. Organizational leadership is increasingly aware that attention to the needs and wants of their current and potential employees is pivotal to their growth and success. So, they are reevaluating their processes, procedures, incentives, and benefits to account for these trends, and outsourcing HR is a part of that consideration. 

What are the primary essential functions of HR? 

The primary HR functions are Human Resources Information Systems (HRIS), Benefits Administration, Talent Acquisition & Onboarding, Employee Relations, Training & Development, and Compensation (Payroll/Total Rewards). These functions are all critical to addressing these impacting HCM trends. 

What role can these HR functions play in affecting these trends aka challenges? 

The expectation of mobility: 

Having an effective HRIS system to electronically manage and house employee data has become common and necessary to maintain efficient communication, consistency, integrity, and security. This also allows the data to be managed from any location where technology is accessible. 

Power shift to employees and applicants / Struggles to find the right fit for positions due to skills gap issue: 

Development and management of attractive, competitive benefits and compensation plans will impact retention of existing employees and attract top talent. Offering performance management and training & development that supports career development is a sign to current and potential employees that their worth is valued and sends the message to them that being with the company also brings and ROI for them. Employee relations and training & development are being redesigned so that the quality, availability, and frequency of meetings and training are consistent whether in-person or virtual. 

Workplace balance is no longer a “buzz” term or trend; it’s a real thing: 

Efficient benefits administration ensures that providing the best health insurance options, a fair and generous leave policy, a well-structured retirement plan, and additional employee perks are top priorities for a company that invests in the well-being of its greatest asset…its employees. 

“Total rewards” is the combination of benefits, compensation, and rewards that employees receive from their organizations. Where wages and bonuses are still important to employees, intrinsic rewards are equally important. So, recognition, workplace flexibility, and career opportunities provide them with that. 

Having a dedicated, experienced HR professional is a must for all professional services firms 

The HR functions needed to address HCM trends require specific skillsets and knowledge bases, such as: 

• HRIS – Knowledge of HR software, familiarity with business analysis tools, exposure to technological functions and jargon
• Benefits Administration – Foundation of most benefit plan designs, knowledge of benefit coverage laws and market trends
• Talent Acquisition & Onboarding – Negotiation skills, data analytics, experience with recruiting software, social media management, sourcing experience
• Employee Relations – Excellent communication and people skills, great listening and observation skills, conflict management techniques, knowledge of performance management plans, experience conducting appraisals and grievances
• Training & Development – Project management skills, coaching skills, knowledge of and experience with training software, presentation skills, organizational skills
• Compensation – Financial education background, proficient Excel knowledge, payroll experience, total rewards knowledge, ability to conduct salary analysis 

Furthermore, these descriptions just skim the surface of what’s required to perform these HR functions. The extent to which each skill set is needed or required depends on factors like the firm type, size of the firm, and firm goals. Surprisingly, some professional services firms have designated a payroll manager or executive for the task of performing these HR duties in addition to their primary responsibilities. Yet, to be most effective in addressing these HCM trends, these professional services firms need a dedicated, experienced HR professional. 

How can outsourcing HR functions help professional services firms? 

HR outsourcing is the use of an outside service to handle some or all of a firm’s HR tasks. Many firms have designated teams within the HR department to handle the different functions. Often, though, smaller organizations (100 employees or less) don’t have the physical capacity or financial ability to support multiple people performing those duties or even one full-time dedicated HR person to work in a generalist capacity. Moreover, firms that are not necessarily small but are transitioning into larger organizations, and may be assessing their needs, may want to slowly grow their core teams.   

Outsourcing HR functions can provide the necessary resources without requiring the full commitment of new employees. Especially in cases where an executive has been the designated HR professional, outsourcing HR functions will allow that business leader to focus on core business processes. Also, the employees will appreciate having a person who is specialized in employee-related issues and is not a direct decision-maker in their career trajectory. Finally, HR consultants can be an additional resource to professional services firms by providing additional support, guidance, and advice in areas where there may be a skills gap, knowledge gap or even a lack of time and resources. 

Outsourcing HR functions has many pros to help meet HCM needs 

Pros 

• Access to HR expertise 
• Saves money because firms don’t have to hire new full-time employees 
• Opens access to additional benefits 
• HR connections can lead to lower cost benefits and access to other global resources 
• Maximizes compliance 
• Minimizes legal risks 

Cons 

• Leadership may feel a lack of control 
• Might feel impersonal to employees 
• Risks with intellectual property access 
• Service quality control  

Undoubtedly, every professional services firm requires certain functions that are focused on HR needs/wants and provides a neutral, trusted and knowledgeable resource that supports both the firm’s and the employees’ well-being. To address the shifting Human Capital Management trends in the present and future of the professional services industry, HR professionals are a necessity. For those firms that are not able or do not want to hire a designated HR professional to handle these significant HR functions, outsourced HR is the right choice to meet these changing HCM needs. Click the image below to learn more and see if this is an option for your firm.

After two virtual years, the annual Deltek conference is back in person. Wondering if your firm should attend this year’s Deltek ProjectCon conference (formerly known as Deltek Insight)? Well first off, let’s use some math logic, so hear me out. 

In project-based businesses, like engineers, architects, consulting firms, and other professional services organizations, it is usually important to hit the mark for a successful business. What is a mark? It’s a point different from nearby points; something to shoot at or a visible indication that distinguishes something. 

However, think of a project lifecycle. I would say that most of the time folks in our world visualize the life cycle of a project as a circle. In fact, go ahead and Google “the project life cycle” and check out the images…they pretty much all include a circle. A sphere doesn’t really have a point, and by its nature, the circle is not like other shapes. As we can agree that the project lifecycle is usually a circle and that circles don’t have points like other shapes, clearly the next logical step is that since your firm really can’t “be square” then you should be there at Deltek ProjectCon 2022!  

My logic is not convincing? Here are other reasons you should attend, and as I know you’ve been thinking about it, let's just say that the new name for Deltek’s annual conference will in no way change the “insight” you will get for attending. 

Gain Some Valuable Deltek Product Insight 

We all know conferences are for learning; that’s basically the entire business case and why you or your firm is paying to be there. So, get knee-deep in your Deltek knowledge at ProjectCon. Obtain a certification through a free Deltek University exam. Add more skills to your resume and get paid more. Learn how to solve your complex challenges using Deltek technology. 

Meet, Greet and Network with Insightful Experts  

Go and have some fun gosh darn it; you’ve earned it. You made it through a pandemic and can finally see your friends and business connections in person for the first time in over two years. There are networking events being thrown just for you at Deltek ProjectCon, so don’t turn down a free party! Even better, you can finally connect with the actual experts about Deltek products, not just your colleagues.  

Fresh Insights and Latest Trends 

Best practices are game changers for professional services firms. At Deltek ProjectCon, learn how your peers are getting things done and get all juiced up on innovative new technologies. Attend the keynote and learn what “The Power of Connectional Intelligence” means. Think about robots; artificial intelligence is the future not just in cars but also in data-driven organizations. 

Future Insights Through Product Roadmaps 

For many project-based firms, there are upgrade questions such as when is Vision's end of life? At ProjectCon, you can find out more from Deltek representatives and see the updated road map. Here you also have the opportunity to ask questions that would make the Deltek staff seriously consider adding your favorite missing feature to the next version of your software. It is critical to understand the journey your firm is on, and that’s hard to do without a map.  

Deltek Newbie? Acquire Insight, Historically Speaking 

There is no better way to meet seasoned groupies than to attend a conference like Deltek ProjectCon. You know you want to hear about what happened at this conference 20 years ago. Go soak up the old-timers’ knowledge or attend beginner sessions and feel less alone.  

Upcoming Insights from Full Sail Partners at ProjectCon ‘22 

Want to see us walk the walk and talk the talk? Join seven of our incomparable consultants as they lead the following sessions. You can search out the sessions by title, topic, presenter, etc. by visiting this page: Deltek ProjectCon 2022 | Project Success Starts Here | Session Catalog 

Discover how Vantagepoint and ADP can work together to enhance your payroll experience. During this session, learn how the Blackbox Connector offering from Full Sail Partners securely and seamlessly integrates 3rd party software platforms with Vantagepoint. The Vantagepoint Payroll Interface allows firms to efficiently move Vantagepoint project hours to ADP payroll hours based on business rules. Employee data can now be integrated between ADP Workforce Now and Vantagepoint with a single point of entry upon the employee hiring process. Presented by:

Scott Seal, VP of Consulting, Full Sail Partners 

Rick Childs, Principal Consultant, Full Sail Partners 

Jennifer Wilson, SQL Developer, Full Sail Partners 

Join this session to familiarize yourself with the new and improved features in Deltek Vantagepoint to help automate your accounting department and business. The presentation will cover the latest and greatest features including approvals, billing, AR, reporting, dashboard, and other features to improve your accounting processes. This is a must-attend session for your financial team to learn from two consultants that have spent more than 1,000 hours helping more than 100 companies upgrade from Vision to Vantagepoint. Presented by:

Terri Agnew, Principal Consultant, Full Sail Partners 

Theresa Depew, Senior Consultant, Full Sail Partners 

Welcome to the future of managing the project lifecycle for professional services firms! With Deltek Vantagepoint, see how one firm created a more cohesive and streamlined method for operating project-based businesses. JCJ Architecture will take you on a journey through its new project lifecycle. Learn how their team reimagined their processes from pursuit identification to final project execution, resulting in a more collaborative team environment. Better data provided better analysis, which resulted in better decision-making and a better business! Presented by:

Rana Blair, Principal Consultant, Full Sail Partners 

Amanda Roussel, Senior Consultant, Full Sail Partners 

Michelle Chapman, Senior Project Accountant, JCJ Architecture 

Jeanne Muscolino, Principal | Hospitality Sector Leader | Business Development Manager, JCJ Architecture 

Register for 2022 ProjectCon Today 

With all of these reasons to attend ProjectCon, we know you are thinking about what to pack already. Don’t miss the Full Sail Partners’ booth in the XPO hall. For all the latest information about ProjectCon 2022, hit up Deltek ProjectCon 2022 | Project Success Starts Here. This year it’s in Nashville from November 15 – 18th. I hope the insights you gain and the fun you have inspire you to do more in your own spherical world of projects. 

According to this year’s Deltek Clarity Architecture & Engineering (A&E) Industry Study, it is looking to be a landmark year for the architecture and engineering industry with net revenue growth forecasted to grow to 17.6%. A&E is doing quite well despite the pandemic with the highest net revenue growth in the last ten years at 11.4%. This increase is assisted by A&E’s market position, which is expected to either grow or remain steady in markets across the board. Most notably water/waste/stormwater, transportation, and industries that fall under the “other” category (such as life sciences and senior living) are predicted to see great increases. As a result, firms will not only need to strategically pursue the right projects but will also need to grow and develop a staff to deliver on these projects.

Top Business Development (BD) Challenges 

The ever-changing nature of the business world is continuing to keep firms on their toes with new challenges. Unlike the previous year, a majority of firms (78%) have identified that finding and retaining qualified staff has been a struggle for them. This is coupled with other mass-reported problems such as staffing shortages and difficulty retaining employees. Staffing challenges have a direct impact on business development, not only lacking adequate staff to conduct business development activities but also not being able to provide the most qualified teams to win and deliver on projects. 

Time to nurture client relationships is the top business development challenge for A&E firms according to the report. With favorable market conditions, new opportunities will be plentiful which poses a challenge for firms to keep up with their clients. Time is money and time is also in short supply. With the reporting firms revealing an average work backlog of nearly 9 months, it is clear that companies must find a way to increase productivity. Upskilling business development talent and streamlining the BD process will help to free up time to strategically nurture client relationships. 

Other top BD challenges from the study include increased competition and identifying prospects. Firms must differentiate and hone branding across thought leadership and social marketing channels to distinguish themselves in the marketplace. Additionally, with a positive industry outlook this year, firms will need to be more strategic in pursuits that work best for their company’s strengths. 

Increased Formal Business Development Process 

Of the companies surveyed, 45% have a formal business development process, which is an increase going up from 39% the previous year. Though this means that 55% of firms surveyed still do not have any formal business development process. In these cases, responsibility for business development tasks is most often pushed to the executive team, project managers, and marketing staff. While dedicated business development staff may not be necessary in every case, it is important not to overlook the kind of work they do. Most notably, they tend to client relationship development, proposal development and networking, but they have plenty of other duties as well. Their jobs help to create new business opportunities, and within the last year active client relationships, requests for proposals and networking placed in the top five sources of new opportunities in the surveyed firms. 

A Positive Year for Proposals Requires Evaluation 

As suggested by the Deltek Clarity study, operating in a market with limited resources but high demand, the go/no go process is significant to evaluate the projects firms will pursue. While the number of firms employing the go/no go process has increased in the last year, there is still a large population who do not utilize it in the slightest. Of the companies who reported, 22% don’t use any kind of go/no go process. Listed below are the top three questions that businesses ask when deciding whether or not to accept a proposal: 

• Is it a good fit for the type of work we do? 
• Do we have an existing relationship with the client? 
• Do we have the staff to deliver the project?   

This method of weeding out less profitable projects is more useful than ever, as a significant rise in the number of proposals submitted and the number awarded in firms of all sizes was observed. In-kind, the average win rate of proposals has increased in the last year to 49.2%, the highest it’s been since the beginning of the COVID-19 pandemic. The average capture rate is also up from the previous year, now standing at 48.5%. 

Marketing Techniques Present and Future 

A majority of businesses reported using social media posts for marketing, with only 16% not indicating any use. This was followed by client-specific marketing at 67%, trade shows/exhibits at 56%, email marketing at 54% and thought leadership at 42%. The order of these marketing methods is projected to change, however, with the study offering up that client-specific marketing could overtake social media marketing within the next five years. Thought leadership is predicted to advance to third place among important marketing techniques, with trade shows/exhibits and email marketing falling more and more by the wayside. 

Business Development Initiatives 

Based on this year’s study, some of the priority business development (BD) initiatives for A&E firms are hiring additional staff, earlier identification of opportunities and requirements and expanding geographically. Since BD has not been spared from staffing challenges, and firms are seeing more proposals, projects, and nurturing opportunities, the focus on obtaining the best-qualified staff is of tantamount importance. Another area that has grown in importance is the geographic expansion of firms requiring yet again additional staff. One more initiative to identify opportunities and their requirements remains top of the list as well. Teams shouldn’t be wasting time and their resources on projects that are not winnable. 

Final BD Outlook from Deltek Clarity 

The 43rd Deltek A&E Clarity study found that while the world still is not clear about the pandemic, things are looking up for the industry. The top problems of participating firms are not dire, and by focusing on the employee base and current client relationships, these issues can be fixed. This year’s Deltek Clarity report also noted that freeing up time is necessary to clear the obstacles in the way of each business regarding BD. To remedy this, employing the go/no go process and better utilizing the tools provided by Deltek to streamline the BD process is suggested. 

How does your company stack up to those that participated in the survey? For a more in-depth look at the data behind the 43rd Deltek A&E Clarity study, use the link below to receive the report for free right now!