Full Sail Partners Blog (2)

It is often the case that many professional services firms underestimate the need for robust Human Resources (HR) functions until they find themselves in a critical situation. Some firms may recognize the need for assistance but struggle to determine the specific type of support required. Here are common statements we frequently hear from clients:  

• “We have purchased our new HRIS system and are ready to implement but we don’t have structured HR processes and procedures in place, so we don’t know where to start.” 

• “We are a small family-oriented company that has managed so far with payroll, our admins and our executives taking care of the main Human Resources needs.” 
• “The managers are responsible for addressing the employee concerns and needs for their departments.” 
• “We have experienced so much turnover, especially in our HR Department. We need to assess our job descriptions and determine what we really need as a company.” 

Do any of these situations resonate with your firm? If so, it is clear that your organization would greatly benefit from the expertise of an HRNA (Human Resources Navigational Analysis). 

The Consequences of Neglecting HR Guidance 

First and foremost, let us consider the profound impact of operating a firm without an HR department or the guidance of an HR professional. This includes, but is not limited to, the following: 

• The potential for litigation issues such as discrimination or harassment lawsuits. 

• Low employee morale results from insufficient workforce engagement efforts, ineffective recruiting practices, subpar performance management, and undefined company culture. 

• Non-compliance with company policies and relevant governmental regulations. 

• High turnover rates due to non-competitive benefits and compensation plans, inadequate or unstructured training and development programs, and a lack of employee recognition initiatives. 

Statistics That Highlight the Necessity of Dedicated HR Personnel 

According to a recent 2023 article in LegalJobs, several HR statistics support the essential requirement for dedicated staff and leadership in managing HR functions. Consider the following: 

• 43% of HR professionals find it challenging to recruit employees due to intense competition. 

• 60% of candidates abandon job applications if they are overly complex. 

• Nearly 30% of new employees quit within the first three months. 

• 74% of new employees believe they have not reached their full potential. 

• 61% of newly hired employees do not undergo company culture training. 

• Onboarding processes have helped 71% of employees better understand their roles and responsibilities. 

• Diverse companies are 70% more likely to penetrate new markets. 

• Highly motivated and committed teams are 21% more effective.

• 41% of highly motivated teams exhibit lower absence rates. 

• 67% of employees value a respectful relationship with their employer. 

• 84% of HR departments believe that employee recognition increases engagement. 

• 82% agree that recognition enhances morale and happiness. 

Build a Strong Foundation with the HRNA Approach  

Our HR Consultant can assist your professional services firm in addressing and potentially avoiding these challenges through the Human Resources Navigational Analysis (HRNA). This comprehensive evaluation provides your firm with a thorough review of current HR systems, documents, and processes, encompassing the entire employee lifecycle. 

The process commences with a discovery phase, involving gathering information through written and verbal means with key stakeholders. This enables our HR Consultant to assess your firm's goals, mission, leadership perspectives on HR, and the existing organizational practices and policies. Subsequently, a meeting with decision-makers is held to develop an action plan based on critical business issues and leadership priorities identified during the discovery phase. 

Next, our HR Consultant compiles a detailed assessment report that includes findings in the focus areas identified and provides recommendations to address the areas requiring further attention. Upon distributing the HRNA report to the client and reviewing it together, we determine the subsequent steps and how we can assist in implementing the recommended measures. 

The Benefits of Pursuing an HRNA 

Clients who have undertaken the HRNA process have experienced a transformative journey. They have found themselves more receptive to change and transition than they initially anticipated. Moreover, this process illuminates the significant impact of effective HR functions on a professional services firm's brand, reputation, longevity, success, and bottom line. 

If your professional services firm is eager to move forward with a Human Resources Navigational Analysis, click the image below to take the next step towards strengthening your HR functions and driving your firm's growth. 

Deltek has recently unveiled the 44th Annual Clarity A&E report, providing an exclusive glimpse into the 2023 outlook of the Architecture and Engineering (A&E) Industry. Overall, while growth may cool down from 2022's excitement, the construction and engineering sectors remain optimistic. Challenges like rising costs, staffing shortages, and inflationary pressures are driving firms to focus on staff retention, development, and diversity initiatives. 

Furthermore, with limited resources, strategic project selection is key. Though investment in supporting technologies has dipped, firms are revving up plans for tech implementation. Despite costs, A&E firms still shine with solid net revenue growth and improved operating profit. Here, in this blog, we will do a quick review of the overall trends seen from the 44th Annual Deltek Clarity Study.

Technology Trends

Firms are prioritizing strategic technology plans, cybersecurity, and business process improvement to achieve digital maturity and address challenges such as rising costs and talent management. While there is a desire to make strategic technological improvements, the report indicates a disconnect between goals and implementation, with firms relying on manual data entry instead of leveraging technology solutions effectively.

Data and cybersecurity remain the top IT operations challenges for firms, with cyberattacks posing a significant threat. Rising technology costs and the need to prioritize applicable trends also hinder technology adoption. However, firms are aiming to transform their use of technology, leveraging it as a competitive advantage and fundamentally changing how their businesses are run and the services offered to clients. Overcoming these challenges and maintaining a harmonious relationship between technology, project execution, and company strategy will be crucial for firms to emerge as the most competitive in the industry.

Business Development Trends

Firms face increased competition and fewer awarded proposals, necessitating strategic planning and resource utilization for conservative revenue growth. To address this, firms should focus on qualifying clients aligned with their strengths, diversify into favorable markets, and nurture existing client relationships with skilled BD talent and technology.

The A&E industry remains strong, but rising costs and staffing challenges require diligent pursuit of strategic opportunities for sustainable growth. Firms can enhance their focus by implementing formal go/no go processes, leveraging CRM solutions, and adopting hybrid BD models combining a dedicated staff with seller/doer approaches. Emphasizing opportunity evaluation and internal collaboration can benefit smaller firms. Adapting to market changes, investing in technology and talent, and prioritizing client relationships is crucial for firms to thrive in the evolving business landscape.

Project Management Trends

The 44th Annual Deltek Clarity report reveals that project managers (PMs) face challenges in gaining visibility into project management KPIs and lacking the necessary tools to manage them effectively. While there is a positive trend with more projects staying on track for schedule and budget, staffing shortages continue to hinder project performance. To tackle these issues, firms should invest in internal project manager training, better project management tools, and training for the next generation of project managers.

Staffing challenges remain the top obstacle for A&E firms, impacting project delivery and potentially causing burnout among existing staff. To address this, firms are focusing on internal training and upskilling current employees. However, comprehensive training and professional development are crucial to equip PMs with the required skills. Additionally, improving project information management, quality control, and collaboration can enhance project performance and mitigate risks. Emphasizing both financial and non-financial KPIs, along with leveraging project technology and financial tracking tools, can lead to improved project outcomes and profitability.

Human Capital Management Trends

A&E firms are focusing on developing and cross-training existing staff to meet project demands amid challenges in staffing and rising hiring costs. They prioritize succession planning, performance management, and talent nurturing to improve retention. To address talent acquisition challenges, firms are re-evaluating position requirements, considering trainable candidates with complementary skills, and offering competitive compensation. Engaging diverse candidates, providing upskilling opportunities, and championing operational tools are crucial for attracting and retaining talent.

In the competitive talent landscape, firms must strategically attract and retain employees by adapting to evolving workforce preferences, such as remote work options and positive company culture. They shift engagement strategies, offer visible career development plans, and track key performance indicators related to employee management and retention. By implementing these approaches, firms aim to improve their talent acquisition processes and support project profitability.

Financial Management Trends

Firms achieved significant financial success in 2022, surpassing their bullish goals and delivering improvements in operating profit. They effectively leveraged direct labor costs and subconsultants to drive revenue growth, outpacing growth in headcount and wages. Strategic investments were made during favorable economic conditions, resulting in strong revenue growth and improved financial metrics.

However, firms are facing several financial challenges that need to be addressed to sustain their performance. Finding and retaining qualified staff remains the top concern, although firms have been successful in leveraging their workforce and achieving high net revenues per employee. Increasing profitability and managing growth are also key areas of focus. Firms are refining their strategies, utilizing technology and process improvements to reduce project delivery costs and balance out rising labor costs.

To maintain their financial performance, firms need to prioritize the overall health and satisfaction of their workforce. Retaining and developing impactful talent through cross-training and internal promotions are crucial. Additionally, driving timely project completion, effective billing, and collection processes are vital for capturing revenue and maintaining cash flow. Investments in business process improvements and financial management training for PMs are key areas of focus to sustain growth and manage financial returns.

Continue to Gain Valuable Insight into the A&E Industry

The 44th Annual Deltek Clarity report continues to provide valuable insight into the Architecture and Engineering industry. In this most recent study, firms are advised to prioritize technology adoption, strategic business development, effective project management, and talent management to be successful. Embracing technology trends, addressing staffing challenges, and focusing on financial management are key areas of focus for sustainable growth and profitability.

By leveraging the recommendations from the Deltek Clarity report, firms can navigate market changes, enhance their operations, and stay competitive. For more information, the entire Clarity report can be downloaded for a comprehensive view. However, don’t forget to keep an eye out for our future blogs where we will be quickly reviewing each trend of the report in more detail.

Congratulations! Your firm just spent months evaluating different CRM systems, selecting one, and then countless hours configuring the system and entering the initial information into the system. You can now sit back and let this wonderful new CRM system do all the work for you, right?!?! Wrong! 

You’ve probably heard the saying “garbage in, garbage out” at least a dozen times throughout your CRM process. Well, the real problem is to get ANY information into the system – garbage or not! After working for nearly two decades begging people to enter their information into the CRM, I’ve discovered a few tips to help *encourage* my project managers, principals, and other seller-doers to get their information into the system – good or bad information.  

In this article, I’ll share 12 expert tips to get your project managers enthusiastic and motivated to leverage the power of CRM. Let's dive in! 

Tip #1 Provide Training

Knowledge is power! To ensure project managers feel confident using the CRM system, offer training sessions. Offer training sessions early and often. Offer training in different formats – written, lecture, and hands-on. Offer the training in big groups and one-on-one. Offer training in scheduled sessions and on-demand as needed. Offer bite-sized training teaching them only what they need to know for certain tasks like entering a contact or updating an opportunity.

I hope you’re beginning to realize that training isn’t just a check-the-box type task. You can’t just host one lunch-and-learn and expect everyone to remember everything and then do it. Instead offer regular on-going training in different formats. Create and provide cheat sheets, checklists, and short video tutorials.

When someone asks you to enter information, use that as a teaching moment to share your screen and go through it with them. In my experience, people are hesitant to add information to the CRM because they don’t know how and/or they are afraid of messing something up.

Teach them how to navigate the system, input data effectively, and explore its powerful features. By equipping them with the necessary skills, you empower them to excel in their role.

Tip #2 Emphasize Benefits

Paint a clear picture of how entering CRM information benefits both the project and individual project managers. Showcase how it improves project visibility, streamlines collaboration, and enhances data-driven decision-making. When project managers understand how CRM contributes to their success, they'll be motivated to embrace it.

I highly encourage all my CRM implementation teams to enter as much information as possible into the system before it’s rolled out to the users. This includes information about key clients, contacts, and activities. Then in the training, you can show a key client record with all the history and conversations. Displaying these complete client records during the training shows what’s possible but with real-life, real-time information that will be more meaningful to the audience.

Tip #3 Simplify User Interface

Nobody wants to get lost in a maze of complex screens and confusing menus. Ensure that the CRM system has a user-friendly interface. Keep it simple, visually appealing, and intuitive to navigate. By reducing the learning curve, project managers will feel more at ease while entering CRM information.

Tip #4 Set Clear Expectations

Clarity is key! Clearly communicate the expectations around CRM usage and data entry. Make it an integral part of project management responsibilities and ensure all project managers understand the importance of timely and accurate data input. When expectations are crystal clear, project managers can align their efforts accordingly.

I recommend keeping the data entry tasks simple at first. For example, just ask them to enter a new contact for each new business card they get. Another example would be for you to create all new opportunity records, but you just want them to go into existing records to update the stage and/or add notes – only updating one or two fields in existing records. Start small until they get comfortable with the system.

Tip #5 Align with Existing Processes

Integrate CRM data entry seamlessly into existing project management processes. When the CRM system complements its current tools and workflow, project managers will perceive it as a valuable addition rather than a burdensome task. By making it a natural part of their routine, you'll see increased adoption.

If your firm is already using the accounting functions of Deltek Vantagepoint, then your project managers should already be comfortable working within the system to set up and manage project financials as well as complete their timesheets. Introducing additional fields and processes to track client relationships and pursuits shouldn’t be too heavy of a lift.

Tip #6 Offer Mobile Accessibility

In today's fast-paced world, mobility is crucial. Provide project managers with mobile access to the CRM system through a dedicated app or mobile-friendly website. This allows them to update information on the go, making data entry more convenient and efficient. Mobile accessibility brings flexibility to their fingertips.

Deltek Vantagepoint has a Mobile CRM app. Don’t forget to show your project managers this capability. I’ve found that the interface for the Mobile CRM app is often easier to understand and enter data for beginning CRM users.

Tip #7 Integrate with Outlook for Gmail

Chances are your project managers spend a significant amount of time inside their Outlook or Gmail inbox, managing emails, scheduling meetings, and coordinating with team members. So, why not bring the CRM system to their inbox? By integrating the CRM with Outlook or Gmail, you can streamline their workflow and make CRM data entry a seamless part of their email management process.

With the Vantagepoint Outlook Integration, for example, CRM users are able to do the following directly from Outlook:

• Track and log emails as Activities
• View, add or update Firm, Contact, or Project records
• Send scheduling links to Contacts
• Record scheduled meetings as Activities

To see the Outlook Integration in action, check out this mini-demo showing how it looks in your Outlook inbox and this mini-demo to see how you can sync your calendar.

Tip #8 Gamify the Process

Who doesn't love a good game? Introduce a touch of gamification to make CRM data entry engaging and fun. Create leaderboards, recognition, or rewards for project managers who consistently maintain accurate and up-to-date data. Gamification injects a sense of friendly competition and encourages active participation.

Tip #9 Regularly Communicate Value

Communication is vital to maintain enthusiasm. Regularly share success stories, metrics, and insights derived from the CRM system. Demonstrate how CRM data contributes to project success and celebrate wins. When project managers see the impact of their data, they'll be motivated to continue entering information diligently.

Tip #10 Seek Feedback and Iterate

Project managers' opinions matter! Actively seek feedback on the CRM system and data entry process. Listen to their suggestions and concerns and iterate accordingly. By involving project managers in the improvement process, you create a sense of ownership and make them feel valued.

Tip #11 Provide Ongoing Support

Support is the backbone of success. Identify one team member as a CRM super user in each office or department. This superuser is then available to answer any questions, help troubleshoot issues that occur, collect feedback from users, and/or identify other areas for improvement and automation of the system.

By providing the necessary support, you ensure project managers feel empowered and encouraged throughout their CRM journey.

Tip #12 Lead by Example

Actions speak louder than words. As a leader, actively use the CRM system yourself. Lead by example and showcase the benefits of CRM to your team. A great way to do this is to ditch the spreadsheets and display the CRM system on the screen in business development/marketing meetings. Actually, bring up the list of the records on the screen and update them in real time during the meeting. This shows the project managers just how easy it is to use your CRM system.

When project managers see their leaders engaging with the system, it reinforces its importance and encourages adoption at all levels.

Unleash the Power of Your CRM

By following these 12 expert tips, your project managers will not only see the value of entering CRM information but also enjoy the process. Remember, CRM is not just about data entry; it's about leveraging insights to drive project success. Together, let's harness the potential of CRM and take our projects to new heights.

Deltek Vantagepoint CRM is a powerful solution designed specifically for project-based businesses. With its user-friendly interface, seamless integration with Outlook and Gmail, and robust features, it empowers project managers to streamline their workflows, enhance collaboration, and make data-driven decisions. By leveraging Deltek Vantagepoint CRM, you can elevate your project management success like never before.

To learn more about how Deltek Vantagepoint CRM can revolutionize your project management processes, visit our resources page. Discover firsthand how this innovative solution can transform the way your project managers enter CRM information, unleash actionable insights, and drive project success.

Together, let's harness the full potential of Deltek Vantagepoint CRM and propel your projects to new heights. Don't wait - take the next step toward unlocking the power of CRM today!

At Full Sail Partners, we firmly believe in the transformative power of the business benchmarking process. It serves as a vital tool that empowers professional services firms like yours to make well-informed decisions, streamline operations, and gain a competitive edge in the marketplace. To achieve optimal results, we advocate adopting an approach that encompasses four essential steps. These steps lay the foundation for a comprehensive and effective benchmarking strategy, allowing you to unlock the full potential of your business. 

#1 Look for Benchmarking Resources

If you're just getting started in the world of benchmarking, it's always beneficial to get a glimpse of how other professional services firms handle this process and measure up against your own company. There's an abundance of industry experts and organizations out there who generously share valuable insights into their benchmarking practices.

By taking advantage of these resources, you'll gain valuable knowledge and a broader perspective on benchmarking strategies. You'll be able to see firsthand how successful companies approach this process and uncover valuable tips and tricks to apply within your own professional services firm. So, don't hesitate to tap into this wealth of information and discover the key to benchmarking excellence.

Here are a few of our personal favorite resources that you'll want to check out:

• Deltek 
• Forrester 
• Gartner
• Hinge Marketing 
• IDC 
• Society for Marketing Professional Services 
• Vision Edge Marketing 

There are countless other companies and organizations out there who are also avid benchmarkers, so don't hesitate to explore further and discover even more insightful resources.

#2 Choose Your KPIs to Measure Success 

This is where we get to choose the meaningful measurements that will serve as your benchmarks or standards. Don't worry, we've got an array of exciting key performance indicators (KPIs) to explore—financial and project-related statistics that provide valuable insights into your professional services firm's performance. It’s like finding the perfect recipe for success! 

In the world of professional services firms, there's a whole bunch of KPIs that can help you gauge your organization's financial and operational health. Here are some of the widely used favorites: 

• Accounts Receivable
• Average Collection Period
• Chargeable Ratio
• Chargeable Ratio times Net Multiplier
• Current Ratio
• Debt to Equity Ratio
• Employee Realization
• Employee Utilization
• Estimate at Completion (EAC)
• Estimated to Complete (ETC)
• Net Multiplier
• Net Revenue per Technical Staff
• Net Revenue per Total Staff
• Overhead before Discretionary Distributions
• Profit on Net Revenues before Taxes and Distributions
• Return on Owners’ Equity
  
  

Now, it's time to do some soul-searching and consider which of these metrics truly encapsulates success for your unique organization. Establish corresponding benchmarks that align with your firm's historical performance, industry surveys, specialized standards, your company's philosophy, or even a delightful combination of factors. The goal is to create a tailored measuring tape that fits your organization like a glove.

When selecting professional services firms to benchmark against, think about factors like industry, geography, and size. The more similarities they share with your firm, the more relevant and valid their metrics will be. It's all about finding those perfect benchmarking buddies who can inspire and guide you toward greatness.

#3 Diligently Track Your Data

With the metrics identified and the benchmarks set to evaluate your professional services firm's performance, it's time to engage in diligent data tracking. Fortunately, there are various options available to streamline this process. 

While traditional methods like one-off spreadsheets and makeshift workarounds may seem tempting, we highly recommend exploring sophisticated software packages tailored to your specific needs. These solutions range from advanced accounting software that effectively monitors financial statistics to specialized project management tools designed to meticulously track individual projects. 

However, allow me to introduce an even more compelling alternative: a purpose-built Enterprise Resource Planning (ERP) system such as Deltek Vantagepoint. This comprehensive solution seamlessly integrates data from both the front office (project-related activities) and the back office (accounting operations). Imagine having a reliable sidekick that offers real-time, comprehensive visibility into all the aforementioned metrics. But it doesn't stop there—Deltek Vantagepoint also optimizes project and staff oversight, automates manual processes (including Customer Relationship Management and business development), and significantly enhances operational efficiency. 

Whether you opt for a combination of software programs or embrace the unified power of Deltek Vantagepoint, it is essential to utilize consistent and continuous data collection. This is an ongoing endeavor that ensures you stay well-informed and propels your professional services firm towards remarkable achievements. So, let's implement robust systems, leverage cutting-edge technology, and diligently track that data to stay ahead of the curve as accomplished benchmarkers. 

#4 Use Your Benchmarks to Make Data-Driven Decisions 

This is where we close the loop and ensure that the right data reaches the right people in a timely manner. It's all about fostering a management commitment to utilizing data for decision making and trust me, it's a game-changer. 

Imagine this scenario: You have schedule-based metrics at your disposal. Not only do they help you determine if a project is currently on budget, but they also shed light on whether it will ultimately stay within the overall budget. If the Estimate at Completion (EAC) surpasses the overall budget, management faces a pivotal choice. They might decide to reduce future expenditures or accept that the project will go over budget, while also identifying where the slippage occurred (perhaps those additional services contracts slipped through the cracks). Mind you, this is just one example. Depending on the specific underperforming metric and the degree of deviation from the desired benchmark, management will have an array of options and decisions to make. 

Now, let's uncover the secret to success in this phase of the benchmarking process: granting management access to all the vital metrics at any given moment. While manual methods can be employed to gather and present this information, there's a far more efficient way to do it—automated KPI dashboards. These customizable features, available in Deltek Vantagepoint, serve as your trusty sidekick, delivering essential data to management in a snap. 

By embracing this data-driven decision-making approach, you unlock the power to steer your professional services firm with precision and confidence. So, let's ensure the flow of valuable insights reaches decision-makers in a timely manner, empowering them to make informed choices that propel your company to new heights of success. 

Don’t Wait, Start Now! 

Regardless of the approach you choose to identify and track your professional services firm's benchmarking information, rest assured that the process yields substantial dividends. It grants your firm a more relevant and up-to-date understanding of its performance, positioning you for success. Equally important, it enables proactive measures to address underlying issues before they escalate into significant challenges, thereby increasing the likelihood of achieving both project and financial success.   

The future of a professional services firm's success begins with benchmarking. Embrace it, harness it, and let it guide us towards a prosperous tomorrow.  

When it comes to assessing the financial well-being of our projects, we know that relying solely on project invoices is like gazing at the tip of an iceberg while missing the grandeur beneath the surface. At Full Sail Partners, we understand that true success lies in exploring a variety of analytics and statistics. Let's dive into the world of project metrics and discover the key to unlocking financial prosperity. 

The Essentials to Determining a Project’s Financial Health 

To begin with, there are a few essential components we must consider when determining a project's financial health. Every project should be documented with: 

• Current and Accurate Fee: A clear understanding of the project's fee is vital. It serves as a baseline for evaluating profitability and making financial decisions throughout the project's lifecycle. 
• Work Breakdown Structure (WBS): A well-defined WBS that aligns with the project's fee and scope helps us accurately allocate costs and resources. It provides a framework for tracking expenses and ensures that financial evaluations are aligned with the project's objectives. 
• Proper Revenue Recognition Method: Selecting the appropriate revenue recognition method is crucial for accurate financial reporting. It ensures that revenue is recognized in a manner that reflects the project's progress and performance accurately. 

Understanding the Components of a Project's Financial Health 

To truly focus on the financial success of a project, we rely on job-to-date (JTD) as our measurement of time. Now, let's explore some key statistics that can be found or created using Deltek Vantagepoint’s Project Earnings Report: 

Profit or Variance  

This metric allows us to compare revenue/earnings with costs incurred. For projects billed on time and materials (T&M), a zero variance indicates profitability, as the project profit is built into the billing rates. However, a negative variance suggests the need to write off charged time. For fixed fee/lump sum projects, the goal is to minimize costs while still delivering on scope and quality. 

Projected Profit or Variance  

Calculating this metric involves updating and managing the estimate to complete (ETC). By combining the ETC with the JTD cost, we derive the estimate at completion (EAC). Comparing the EAC to the Fee allows us to gauge the project's health upon completion and identify potential scope creep. By analyzing actual and projected profit together, we can establish four scenarios and develop a matrix approach for reviewing a project's financial health: 

• Scenario 1: JTD shows a profit, but there is a projected reduction in that profit moving forward. This indicates the need for careful cost management to maintain profitability. 
• Scenario 2: JTD shows a profit, and continued or increased profit is forecasted. This demonstrates a healthy financial trajectory. 
• Scenario 3: JTD shows a loss, but some or all of that loss can be mitigated moving forward. This calls for identifying and addressing the factors contributing to the loss and implementing corrective actions. 
• Scenario 4: JTD shows a loss that will continue or grow. In this case, it is crucial to evaluate the project's viability and explore strategies for minimizing further losses. 

Direct Labor Multiplier 

This metric is crucial for managing a specific project and aligning with the firm's overall goals. It measures how much revenue is generated per labor dollar charged. The estimated multiplier is determined at the project's inception, and it's important to have a basis of comparison when evaluating this statistic. 

Work in Process (WIP)  

WIP is calculated as the difference between project revenue and the amount invoiced. Monitoring WIP helps mitigate any potential risks to project earnings. If revenue is accrued, it's vital to consider the time associated with billing and collection. Deferring revenue can minimize or mitigate risks effectively. 

Backlog  

This metric indicates the remaining revenue to be earned, representing the future available revenue stream. When combined with all projects, it forms a significant line on our Key Performance Indicator (KPI) graph. Additionally, it reflects the required full-time equivalent man-hours to complete and deliver contracted work. It's worth noting that backlog can be derived from the ETC, showcasing the interconnectedness of these metrics. 

It's crucial to note that all these metrics work in tandem, complementing and informing each other. For instance, backlog can be derived from the estimate to complete (ETC), demonstrating the interconnected nature of these indicators. By considering them collectively, we gain a comprehensive understanding of a project's financial health and can make informed decisions accordingly. 

Measuring a Project’s Financial Health is Multifaceted and Continuous  

At Full Sail Partners, we believe that measuring the financial health of a project requires a multifaceted approach. By relying on a variety of analytics and statistics, we gain a holistic understanding of the project's financial landscape. Project invoices, while important, are just one piece of the puzzle. 

To make our projects truly profitable, it is essential to continually measure and monitor their financial health. By utilizing a range of metrics and closely tracking project milestones, you can proactively identify potential shortcomings and take corrective actions before they escalate. This approach empowers project managers and the entire team to drive success, deliver value to clients, and optimize financial outcomes. 

Deltek Vantagepoint: Empowering Project-Based Consulting Businesses for Financial Success 

In conclusion, measuring a project's financial health goes beyond relying solely on project invoices. By leveraging various analytics and statistics, including key performance indicators, milestones, and specific metrics like profit or variance, projected profit or variance, direct labor multiplier, WIP, and backlog, you gain a comprehensive view of a project's financial status. This comprehensive approach allows you to make informed decisions, mitigate risks, and steer projects toward profitability.  

So, embrace these valuable insights, keep a close eye on your project's financial well-being, and unlock the path to sustainable success in your project-based consulting business. To see how Deltek Vantagepoint supports good project financial management, watch the webinar below!  

Hey there fellow project-based businesses! Are you tired of losing out on new opportunities to your competitors? Do you struggle to produce powerful and convincing proposals that win new business? If so, you're not alone! With the competition for new business constantly increasing, it's more important than ever to have an efficient and effective business proposal development process. 

That's where we come in. As a provider of Deltek Vantagepoint software and consulting services, we know what it takes to streamline the proposal development process and increase your win rate. In this blog, we'll share with you some hot tips to help you improve your business proposal development process. 

From creating checklists and assigning tasks to subject matter experts, to knowing when to bid or no bid, and avoiding information overload, we've got you covered. We'll also dive into the importance of using graphics, creating an executive summary that wins, and keeping in touch with your references. 

By implementing these tips, you'll be able to increase your proposal process efficiency and gain a competitive edge. So, let's get started and win some business! 

Tip #1 – Create a Checklist 

Let's say you're working on a proposal for a huge project that your company has been eyeing for months. You've spent weeks pouring your heart and soul into it, working long hours and sacrificing your weekends to make it perfect. You finally hit the submit button and breathe a sigh of relief, feeling confident that you've done everything right. 

But then, a few days later, you receive an email from the client stating that your proposal was rejected because a crucial document was missing that you forgot to include. Your heart sinks as you realize that all your hard work has gone down the drain because of a simple mistake. 

This is where creating a checklist comes in. By starting the proposal process with a checklist, you'll be able to ensure that you don't forget anything important. You can study the request for proposal (RFP) and create a comprehensive list of all the requirements, forms, and documents that need to be included in your submission. 

Not only will a checklist help you avoid the worst-case scenario of submitting an incomplete proposal, but it will also help you stay organized and on track throughout the proposal development process. You'll be able to check off each item on the list as you go, giving you peace of mind that you're on the right track and that you're not missing anything important. 

So, take the time to create a checklist at the beginning of your proposal development process. It may seem like a small step, but it could save you from a major headache and disappointment down the line. 

Tip #2 - Identify Areas of Focus for Subject Matter Experts (SMEs) 

Now, imagine that you're working on a proposal for a major construction project, and your company is going up against several other firms to win the contract. The proposal is due in just a few days, and you're feeling the pressure to get everything done on time. 

You've got a team of subject matter experts (SMEs) working with you, but they're all busy with other projects and responsibilities. You've assigned them sections of the proposal to work on, but you haven't given them specific guidance or direction. As a result, they're all working in different directions, and their contributions don't mesh well with the rest of the proposal. 

When you finally put all the pieces together, you realize that the proposal doesn't flow well and that some of the information is contradictory or incomplete. You try to fix it on your own, but it's too late. The deadline has passed, and your proposal is rejected because it's not well-organized or well-written. 

This is where identifying areas of focus for SMEs comes in. By working with your SMEs to identify key sections of the RFP that are relevant to their expertise, you can help them focus their time and energy on the most important parts of the proposal. You can also provide them with clear guidance and direction on what you're looking for, and how their contributions should fit in with the rest of the proposal. 

By doing this, you'll be able to ensure that everyone is working together towards a common goal and that the proposal is well-organized, well-written, and cohesive. You'll also be able to make the most of your SMEs' limited time and expertise, which will help you create a stronger proposal and increase your chances of winning the contract. 

So, don't underestimate the importance of identifying areas of focus for SMEs. It may take a bit of extra time and effort, but it will pay off in the end by helping you create a more effective and efficient proposal development process. 

Tip #3 – Have a Kickoff Meeting 

The kickoff meeting is a crucial step in the proposal development process. It's the first time that everyone working on the proposal comes together to discuss their roles, set expectations, and establish a plan of action. Here are some key things to keep in mind when planning your kickoff meeting: 

• Bring everyone together: The kickoff meeting should include all the contributors who will be working on the proposal. This includes subject matter experts, writers, editors, graphic designers, and anyone else who will be involved in the process. 
• Set expectations: Use the kickoff meeting to set clear expectations for everyone involved in the proposal development process. Discuss timelines, writing assignments, and writing guidelines, and make sure that everyone knows what's expected of them. This will help ensure that the proposal is completed on time and meets all the necessary requirements. 
• Discuss the win strategy: Use the kickoff meeting to discuss the win strategy and major themes of the proposal. This is your chance to brainstorm ideas, identify your strengths and weaknesses, and come up with a plan to differentiate your firm from the competition. By doing this, you'll be able to create a proposal that speaks directly to the client's needs and showcases your unique value proposition. 

• Assign tasks: During the kickoff meeting, assign specific tasks to each contributor. Make sure that everyone knows what they need to do and when it needs to be done. By doing this, you'll be able to keep everyone on track and ensure that the proposal is completed on time and to the best of your team's ability. 
• Establish communication channels: Finally, use the kickoff meeting to establish communication channels for the proposal development process. Make sure that everyone knows how to communicate with each other and how often they should be checking in. This will help ensure that everyone is on the same page and that the proposal development process runs smoothly. 

In summary, the kickoff meeting is a crucial step in the proposal development process. By bringing everyone together, setting expectations, discussing the win strategy, assigning tasks, and establishing communication channels, you'll be able to create a proposal that stands out from the competition and meets all the necessary requirements. 

Tip #4 – Know When to Bid or No Bid 

Knowing when to bid or no bid is a critical decision in the proposal development process. To make this decision, evaluate the risks involved in the project, consider your competition, and assess your firm's capabilities. You should also look at the financials to ensure that the project is financially viable and that you'll be able to make a profit. 

If the risks outweigh the benefits, the competition is too fierce, or you don't have the necessary capabilities or financial resources, it may be best to no bid on the project. Trust your instincts and don't let the pressure to win new business cloud your judgment and lead you into making a bad decision. By making an informed decision about whether to bid or no bid, you'll be able to focus your resources on the most promising opportunities and increase your chances of success in the long run. 

Tip #5 – Avoid Information Overload 

Does this sound familiar? You've spent weeks gathering data, conducting research, and writing the proposal. You're confident that you've provided all the necessary information and then some. 

However, when the client receives your proposal, they're overwhelmed by the amount of information and technical details. They can't find the key points and important details buried in the mountains of data and irrelevant text. 

As a result, they rejected your proposal and chose another firm that presented a more focused and concise proposal. Your proposal failed to convey the key points and information that the client needed to make an informed decision. In the end, all of your hard work and effort went to waste. 

To avoid this scenario, it's important to remember that more information doesn't always make a better proposal. Instead, you should focus on providing the necessary information that supports your proposal and clearly conveys your message to the client. 

To do this, you can: 

• Focus on the key points: Identify the key points and information that the client needs to know and make sure that those are highlighted in your proposal. 
• Be concise: Use clear, straightforward language and avoid jargon or technical terms that the client may not be familiar with. Keep your proposal concise and to the point. 
• Use visuals: Consider using visuals, such as charts, graphs, and diagrams, to help convey complex information in a clear and concise way. 

• Avoid including irrelevant information: Don't include irrelevant information or details that don't support your proposal. This can distract the readers and make it harder for them to understand the key points of your proposal. 
• Use an appendix: If you have additional or unrequested information that you want to include, consider using an appendix. This allows you to provide the information without overwhelming the readers with unnecessary details. 

By following these pointers, you can avoid information overload and create a proposal that is clear, concise, and effective in conveying your message to the client. 

Tip #6 – Avoid Stale Boilerplate Content 

To avoid stale boilerplate content, conduct periodic reviews of your proposals and identify any outdated or inaccurate information. This is important because boilerplate content that is outdated or inaccurate can damage your credibility with the client and lead to a lost opportunity. To keep your proposals fresh and current, update any outdated or inaccurate content and customize it for each specific proposal to show the client that you understand its unique needs. 

When conducting reviews, consider the following questions: 

• Does the content accurately reflect our current approach, services, and focus? 
• Are there any outdated statistics, case studies, or references? 
• Is the language clear, concise, and free of jargon? 

Once you've identified any outdated or inaccurate content, update it to reflect your current approach and services. This may involve researching new statistics or case studies, rewording content to reflect changes in your approach, or removing irrelevant information. 

Customizing your boilerplate content for each specific proposal is also important. This shows the client that you understand its unique needs and requirements and are committed to meeting those needs. Use the client's own language and terminology, and make sure to address specific concerns and challenges. 

Avoiding stale boilerplate content is crucial to creating effective proposals. By conducting periodic reviews, updating outdated or inaccurate content, and customizing your content for each specific proposal, you'll be able to create proposals that are fresh, relevant, and effective in communicating your message to the client. 

Tip #7 – Use Graphics 

Using graphics in your business proposals can be a powerful way to convey complex information and help your proposal stand out from the competition. When using graphics, make sure that they are relevant to the content of your proposal and support your key points. This will help you to emphasize important information and convey complex data concisely. 

To use graphics effectively, keep them simple and easy-to-understand. Use high-quality graphics that are visually appealing and easy to read and avoid cluttering your proposal with too many graphics or using graphics that are too complicated or difficult to understand. By using graphics to convey complex information, you can help the client to understand the data more easily and make a stronger case for your proposal. 

Tip #8 – Write an Executive Summary that Wins 

Writing an executive summary that wins is crucial to making a strong impression on the client and winning the project. To do this, focus on the key points of your proposal and highlight the most important information that the client needs to know. Keep your executive summary clear, concise, and to the point, and use language that shows that you understand the client's needs and requirements. 

Use your executive summary to differentiate your firm from the competition and highlight your unique value proposition. Use a strong opening sentence or paragraph to grab the client's attention and make them want to read more. By creating an executive summary that is focused, clear, and compelling, you can make a strong impression on the client and increase your chances of winning the project. 

Tip #9 – Keep in Touch with References 

Keeping in touch with references can help to build and maintain relationships that can be valuable for future business opportunities. After using a reference in a proposal or project, take the time to thank them for their endorsement and let them know that you appreciate their support. This can help to strengthen your relationship with the reference and increase the likelihood that they will recommend you in the future. 

In addition to thanking your references, it's also important to keep them informed about future reference requests. Let them know about any upcoming opportunities where you may need to provide references and ask if they would be willing to serve as a reference again. By keeping your references in the loop and showing your appreciation, you can build strong relationships that can be valuable for future business opportunities. 

Tip #10 – Set Firm Deadlines 

You're working on a proposal for a major project with a tight submission deadline. You've set internal deadlines for each stage of the proposal development process, but some team members are not taking these deadlines seriously and are falling behind in their tasks. As a result, the proposal is not progressing as quickly as it should be, and there is a risk that you will miss the submission deadline. 

To avoid this scenario, it's important to set firm deadlines and hold team members accountable for meeting them. Make sure that all team members understand the importance of meeting their deadlines and the consequences of not doing so. By setting firm deadlines and holding team members accountable, you can ensure that the proposal is completed on time and to the highest standard possible, increasing your chances of winning the project. 

Setting firm deadlines is crucial to keeping your proposal development process on track and ensuring that you meet the submission deadline. Treat internal deadlines as firm deadlines, hold team members accountable for meeting them, and make sure that all team members understand the importance of meeting their deadlines. By doing so, you can ensure that the proposal is completed on time and to the highest standard possible. 

Increase Proposal Process Efficiency 

In conclusion, it's important for project-based firms to have an efficient and effective business proposal development process to increase their chances of winning new business. By incorporating these tips into your proposal development process, you can gain a competitive edge, increase your firm's win rate, and ultimately, grow your business. If you want to increase your business proposal efficiency even more, see how to leverage Deltek data to power OpenAsset and how a DAM can help firms increase productivity and scale for growth by clicking the image below. 

At Full Sail Partners, we are thrilled to present our second blog post on the highly anticipated update of Deltek Vantagepoint to version 6.0. With each iteration, Deltek Vantagepoint has solidified its position as the trusted solution for organizations across various industries. Now, with the launch of version 6.0, we are poised to revolutionize the way professionals like you plan, execute, and track projects.  

With a comprehensive suite of features and enhancements, Deltek Vantagepoint 6.0 empowers professional services firms like yours with unparalleled insights, streamlined workflows, and a more intuitive interface. We are confident that this latest iteration will pave the way for project success in the modern era. In this blog post, we will continue to provide you with an overview of what's new in Deltek Vantagepoint 6.0, giving you a glimpse of the exciting possibilities that await you. 

Contents

• Mobile
• Mobile CRM
• Mobile Time & Expense
• My Preferences
• Planning
• Project Review
• Projects Hub
• Purchasing
• Reporting
• Search
• Timesheet, Expense Report, and Approval Center

Mobile

In the latest update to Vantagepoint 6.0, several mobile enhancements have been introduced to improve security, language compatibility, and server support for the mobile application.

• Disabling the Vantagepoint Mobile URL Deep Link Feature: To ensure enhanced security and mitigate potential risks, the deep link feature of the Vantagepoint Mobile application URL has been disabled. As a result, when you access a Vantagepoint Mobile application URL, you will now be automatically redirected to the Deltek screen. From there, you can conveniently download the latest mobile application and copy the application URL as needed.
• Hiding Help Links in Vantagepoint Mobile Applications for Non-English Languages: In adherence to the software documentation laws of countries outside the United States, help links within the Vantagepoint Mobile applications will be hidden if a language other than English (American or International) is selected. This change ensures compliance with translation requirements for software documentation. Consequently, help links on screens such as Server URL (Connection Help), Menu, and Settings will only be available when English (American or International) is the selected language.
• Touch Server Upgrade to PHP 8.1.14: To maintain optimal performance and compatibility, the Touch Server component of the Vantagepoint mobile application has been upgraded to support PHP 8.1.14. This update ensures that the mobile application operates smoothly with the latest PHP version, enhancing stability and overall server performance. 

Mobile CRM 

Deltek Vantagepoint 6.0 introduces several enhancements to Mobile CRM, providing users with expanded capabilities and improved functionality on the go. 

• Support for Date/Time Fields: Date/Time fields created in the Screen Designer of Deltek Vantagepoint are now accessible in Vantagepoint Mobile CRM. These fields can be found on the Misc/User-Defined (UDF) tab of all hubs. Users can conveniently add dates using the calendar icon, specify times using the clock icon, or directly input date and time values using the keypad. Please note that if one field is populated, both fields require input. 
• Support for Phone User-Defined Fields (UDFs): Phone UDFs created in the Screen Designer of Deltek Vantagepoint are now available in Vantagepoint Mobile CRM. On the Misc/User-Defined (UDF) tab of all hubs, users can add or edit phone numbers in the designated Phone UDF field. Tapping a phone number allows for quick initiation of a call. 
• Display of Pre-Award Number Field: Mobile CRM now includes the Pre-Award Number field, which displays the project number assigned at the time of project creation. If pre-award numbering is enabled and a pre-award number is assigned to the project, the Pre-Award Number field appears below the Number field on the Details screen of Projects. This field is read-only and does not appear on the Add Project screen. The Pre-Award Number field adheres to the field properties set in the Screen Designer of Deltek Vantagepoint. 

• Support for User-Defined Fields in Activities: User-defined fields (UDFs) created for the Activities hub in the Screen Designer of Deltek Vantagepoint are now accessible in Mobile CRM. On the Misc/UDF tab of the Add Activity screen and Edit Activity screen, users can view and interact with the UDFs associated with activities. 
• Improved Add Projects Functionality: The Contacts and Firms hubs in Mobile CRM now offer an enhanced Add Projects function. Users can expect more consistent behavior and a streamlined process that ensures proper business logic is applied. 
• Start and End Time Fields for all Activity Types: Mobile CRM now includes Start Time and End Time fields for all activity types. These fields are available regardless of whether a reminder is set for the selected activity type, providing users with greater flexibility and accuracy when managing activities. 
• Support for Image Icon Configuration: To comply with the General Data Protection Regulation (GDPR) laws of EU countries, the Edit link on the image icon of Contacts, Firms, and Projects is hidden if the image icon was configured to be locked in the Screen Designer of Deltek Vantagepoint. This ensures that when the image icon is locked, users cannot add new photos or replace existing ones in the records, safeguarding data privacy and protection.  

Mobile Time & Expense

In our ongoing efforts to enhance your experience with Mobile Time and Expense, we are excited to introduce two new features that will simplify your time and expense management.

• Viewing Benefit Hours: In Mobile Time and Expense, you can now conveniently view the summary of your benefit hours or absence accruals. By tapping and selecting the "View Benefit Hours" option, the Benefit Hours screen will be displayed. This screen presents a comprehensive overview of your PTO/personal, Sick, Holiday, and other types of benefit hours accumulated or used throughout the year. The "View Benefit Hours" option can be found on all Timesheet screen menus, allowing easy access to this valuable information.
• Improved Date Navigation: Efficiently managing to start and end times by day is now easier in Timesheet Hours. The Start/End Times screen offers an improved date navigation feature through a user-friendly date carousel. With the date carousel, you can swiftly navigate to a different day or tap on a specific day, reducing the number of taps required to enter time across multiple days. This enhancement streamlines the time entry process and allows for quicker input of time.  

My Preferences

In the My Preferences section, you have the ability to personalize your Vantagepoint experience to suit your needs. Take a look at these two new features that will help enhance your experience.  

• Preferred Application View: This is a new option on the General tab of My Preferences that is used to specify the preferred view that displays in all of Vantagepoint’s applications that support both Detail View and List View. 
  

• Role-based User Education in the Application: Vantagepoint now displays targeted in-app information about feature enhancements, common tasks, and communications based on your selected role in the new My Education Interests field on the My Preferences dialog box. 

Planning 

With the newly incorporated support for units on the Units tab and the ability to enter contract amounts on the Contract tab, Deltek Vantagepoint 6.0 empowers you to create meticulous and comprehensive project plans. 

• Support for Units in Project Planning: To facilitate comprehensive project planning, Vantagepoint now includes support for units on the Units tab within Project Planning (Hubs » Projects » Plan). With this enhancement, you can plan and manage units, enabling you to develop more detailed project plans. 
• Enter Contract Amounts for Unit Planning: In Project Planning, the Contract tab now allows you to specify the portion of a compensation amount allocated for units in regular or promotional charge-type projects. This enhancement provides a more detailed breakdown of amounts while planning your project, giving you better visibility and control over financial aspects related to unit planning. 

Project Review 

With the integration of planned units into the Key Performance Indicators (KPI) grid and the addition of the Total Billed field in the Revenue section, you can now conduct a more comprehensive analysis of your projects. These enhancements enable you to track and analyze planned unit quantities alongside other essential project metrics, while providing a clear and concise overview of the total amount billed for each project. 

• Planned Units in Project Review: In the Project Review form, any planned amounts for units within the project are now integrated into the Key Performance Indicators (KPI) grid located at the bottom. This inclusion allows for a more thorough assessment of project performance, enabling users to track and analyze planned unit quantities alongside other critical project metrics.
• Total Billed Field in Project Review: Within the Revenue section of the grid, a new Total Billed field has been introduced. This field provides a clear and concise overview of the total amount billed for the project. By displaying this information in the Project Review form, users can quickly assess the project's financial status and track invoiced amounts in a more streamlined manner. 

Projects Hub 

Deltek Vantagepoint 6.0 introduces a powerful new feature called Pre-Award Project Numbering, designed to streamline project management and enhance workflow flexibility. This feature allows users to set up Vantagepoint to support different numbering systems for pre-award (in-pursuit) projects and awarded (won) projects, enabling project numbers to be changed upon award. 

To enable the Pre-Award Project Numbering feature, navigate to the Numbering form in Settings » Workflow » Numbering and select the "Update project number when approved for use in processing" checkbox. This configuration option provides greater control over project numbering and helps align project management practices with specific organizational requirements.  

Purchasing 

Deltek Vantagepoint 6.0 brings significant enhancements to the Purchasing module by making various purchasing applications available in the browser application for improved accessibility and usability. Here are the updates. 

• Purchase Requisitions: Previously located in the desktop application, Purchase Requisitions is now accessible in the browser application.
• Purchase Orders: Similar to Purchase Requisitions, Purchase Orders have been moved from the desktop application to the browser application.
• Items: Formerly known as the Items Master application, it is now available in the browser application under Purchasing. This change provides a centralized location for managing items within the purchasing workflow.
• Item Review: A new addition to the browser application, the Item Review application allows users to review item-related details and associated purchase requisitions and purchase orders.
• Receiving: Also newly introduced to the browser application, the Receiving application streamlines the receipt management process.
• Option to Enable Purchasing Applications in the Browser Removed: With most purchasing applications now accessible in the browser application, the option to enable Purchase Orders in the Web Application has been removed from the Modules form in Settings » General » Modules.
• All Purchasing Reports Now Available in the Browser Application: The entire set of purchasing reports can now be accessed and utilized in the browser application under My Stuff » Reporting. This comprehensive collection includes reports such as Request for Price Quote Status, Purchase Requisition Form, Purchase Order Detail, and more.
• Improved Loading Speed for List View: Performance optimizations have been implemented to enhance the loading speed of List View within the Purchase Orders and Purchase Requisitions applications. Users can now enjoy a more efficient and seamless experience when working with large datasets.
• User Interface Enhancements for Receiving and Item Review Applications: In Vantagepoint 6.0, the Receiving and Item Review applications have undergone user interface improvements to provide a more consistent and intuitive user experience. Here are the notable changes:
• Receiving Application: Accessible in the browser application under Purchasing » Receiving, the redesigned form aligns with the visual elements and layout found in the browser application. It incorporates common search functions, displays item names from the Items application, offers actions for reporting, and provides enhanced capabilities for managing receipts and line items.
• Item Review Application: Available in the browser application under Purchasing » Item Review, the updated form features a revamped user interface consistent with the browser application design. It offers search functions, displays item names, enables the review of purchase requisitions and purchase orders associated with an item, and provides direct access to relevant records.
• The complete Item Review application can still be accessed within the desktop application under Purchasing » Item Review, ensuring compatibility with existing workflows and providing flexibility for users.

Reporting 

Take a look at these new game-changing features in the reporting section that make reporting a breeze. 

• SyncCustomReports Switch: With the release of Deltek Vantagepoint 6.0, a new feature called the SyncCustomReports switch has been introduced. This switch enables the synchronization of custom reports between the Vantagepoint (transaction) database and the Vantagepoint server database. By using the SyncCustomReports switch, you can ensure that any custom reports you have created or modified are accurately reflected in both databases. This functionality is equivalent to the Synchronize button found on the Custom Reports tab in the desktop application's Utilities » Report Administration section. 
• Workflow Report for Webhook Action: The Webhook Action within the Settings » Workflow » Application Workflows now supports a workflow subreport. You can generate a comprehensive report for this webhook action by clicking on either the "Print All Workflows" or "Print Workflow" options. This report provides detailed information about the workflow process, helping you analyze and track the actions taken within your application workflows. 

Search 

Deltek Vantagepoint 6.0 brings exciting updates to the search functionality, delivering an enhanced user experience for building, editing, and navigating searches. Let's explore the key improvements that will empower you to find information more efficiently.  

Improved Layout of Search Dialog Box: The Search dialog box has undergone a restyling to offer a clearer presentation of information and facilitate the building and editing of both standard and advanced searches. Key layout and styling changes include:

• A new grid header at the top of the Search dialog box, clearly displays the Select Search drop-down list, a set of Actions, and the Advanced Settings toggle. 
• The removal of the Show Preview toggle. 
• When the Check SQL button is clicked, Vantagepoint provides a SQL Where Clause status message. Validated queries are indicated by a shaded message in the Vantagepoint toolbar, while invalid queries are highlighted in red at the top of the Search dialog box. 

Enhanced Search Navigation and Record Selection Pane: Efficient navigation and record selection are vital for a seamless search experience. Deltek Vantagepoint 6.0 offers the following improvements: 

• Records Selection pane: The Records Selection pane now enables users to quickly add multiple records or all records to an ad hoc Selection search. Instead of relying on the Multiselect toggle, users can now select checkboxes for multiple records and click “Done” to promptly create an ad hoc Selection search. 
• Select All button: A new Select All button has been introduced to include all records in an ad hoc Selection search. By clicking this button, Vantagepoint automatically navigates to the Search Navigation Control for the ad hoc Selection search. 

• Direct record navigation: Users can conveniently navigate to a specific record by clicking any area to the right of the record's checkbox. This direct navigation feature speeds up the process of accessing a record's form. The Saved Search Control displays the saved search used for record navigation, along with its record number, in the paging control. 

Timesheet, Expense Report, and Approval Center 

Deltek Vantagepoint 6.0 introduces an update that enhances the visibility of employee assignments in the Timesheet, Expense Report, and Approval Center areas. If you have the Resource Planning and Time & Expense modules, you can now easily access employee assignment information directly from the following sections: 

• My Stuff » Timesheet
• My Stuff » Expense Report 
• My Stuff » Approval Center 

By opening the employee card within these areas, you can conveniently view and review an employee's assignments that have remaining estimate-to-complete (ETC) hours. This feature eliminates the need to switch applications and navigate to the Resource View form, providing a seamless experience within the current application context. 

The Assignments tab within the Employee Card dialog box allows you to explore the employee's current and future assignments across different projects. You can define the forecast range and customize the type of values displayed in the calendar period columns. These values may include planned hours, scheduled percentages, and utilization percentages. With this information readily available, you can quickly assess an employee's workload and upcoming commitments without leaving the application. 

Looking for More? 

Want to hear more about Deltek Vantagepoint 6.0? Be sure to check out our first blog to get the full picture of all things Vantagepoint. Still not enough? Check out our webinar on the new features of Deltek Vantagepoint and stay tuned for more content in the future! 

In the ever-evolving landscape of project management software, Deltek Vantagepoint has established itself as a trusted solution for organizations across industries. Now, with the much-anticipated release of version 6.0, Deltek is set to revolutionize the way professional services firms plan, execute, and track their projects. Building upon its solid foundation, Deltek Vantagepoint 6.0 focuses on three key themes: improved visibility, enhanced user experience, and better project planning.

With a comprehensive suite of features and enhancements, this latest iteration promises to empower professional services firms with unparalleled insights, streamlined workflows, and a more intuitive interface, ultimately paving the way for project success in the modern era. Here’s an overview of what’s new in Deltek Vantagepoint 6.0.

Contents

• Expanded APIs
• Enhanced User Control
• Improved Dashboards
• Draft Invoice Approvals Made Easier
• Employee Visibility Increased in Hubs
• New In-Product Guides
• Updated Interactive Billing
  • Streamlined Period Start/End Date Changes for Submitted Draft Invoices
  • Warning Message for Voiding Invoices with Applied Payments
  • Additional Columns in Invoice History
  • Invoice Template Editor in the Browser Application

Expanded APIs

Deltek has expanded the range of Application Programming Interfaces (APIs) available to users. These new API endpoints not only facilitate the exchange of information but also adhere to the existing validations and restrictions, ensuring data integrity and compliance with security requirements at the application level.

Enhanced User Control

Deltek Vantagepoint 6.0 introduces a game-changing feature that enhances user control and flexibility within Connect for Outlook and Connect for Gmail - the ability to customize contact, firm, and project records in the contextual pane. This new functionality allows users to tailor the information displayed in the pane according to their specific needs and preferences.

With this customization capability, users can handpick which fields, including user-defined fields, are included for each record type in the contextual pane. Whether it's contact information, firm details, or project specifics, individuals can choose the relevant data elements that they want to have readily available at their fingertips. This level of customization empowers users to optimize their workflows and focus on the specific information that matters most to them.

Improved Dashboards

Deltek Vantagepoint 6.0 introduces several new and improved features related to dashboards, providing enhanced customization and functionality. Here are some key highlights of the dashboard-related updates:

• New Columns and Role-Based Security for Employee Dashpart Base: In addition to user-defined fields, several new columns are now available for the employee dashpart base, including City, Country, Firm Name, Hire Date, and more.
• New Role-Based Security Settings: These settings can now be applied to dashpart bases and their columns, allowing administrators to control access to specific dashparts and columns based on user roles.
• Find Dashparts Efficiently: The new Quick Find field in the Dashpart Library enables users to search and find available dashparts more efficiently, based on dashpart titles.
• Memo Dashparts for Notes and Announcements: The new memo dashpart allows users to post notes, reminders, warnings, announcements, URL links, or images directly on a dashboard. Rich text formatting is supported for enhanced customization.
• Updated AR Comment Column for AR Detail Dashpart Base: AR comments are now displayed at the Invoice grouping level, eliminating the need to expand transaction lines. Users can add AR comments directly from the Invoice group level.
• Drill-To Indicator for Dashparts: Dashparts associated with another dashpart as a drill-to action now display a drill-to indicator icon in the Dashpart Library, enhancing the user experience and navigation.
• New Columns for Project Dashpart Base: The project dashpart base now includes additional columns such as Weighted Percent Complete, Total Compensation, Committed Purchase Order Expense Billing, and Committed Purchase Order Expense Cost.
• Enhanced Filter Selection by Organization: When creating or modifying dashparts with the Account or Account Detail dashpart bases, users can now apply filters by an organization more efficiently. The update allows the selection of parent-level organizations, making it possible to choose all sub-organizations simultaneously.
• New Predefined Dashparts: Several new predefined dashparts are available for use in dashboards, including Top 10 Clients - Receivables, Top 10 AR by Billing Client with Drill To, Weighted and Estimated Fee by Stage with Drill To, and Pursuits by Probability with Drill To.
• Updated Predefined Dashboards: Certain predefined dashboards have been updated to display the Employee Utilization This Year dashpart instead of the Utilization dashpart, providing more relevant and up-to-date information.
• Custom Multipliers for Calculated Fields: Users now have the ability to configure the multiplier field for percentage data types when working with calculated fields in the Dashpart Designer.

Draft Invoice Approvals Made Easier

With the appropriate role security access rights, users can access the Supporting Document dialog box and print all supporting documents to a single file with ease. To activate the feature, navigate to Settings » Security » Roles, click the accounting tab, and in the Billing Security: Interactive Billing and Invoice Approvals section select the Allow Changes to Support Documents checkbox.

Employee Visibility Increased in Hubs

When accessing a record in Vantagepoint, you can now have increased employee visibility:

• Orange Outline: If other employees are currently editing their record, their picture icon is highlighted with an orange circle, indicating their active editing status. The picture of the person actively editing the record is always displayed first.
• Blue Outline: For employees who are viewing the record, their picture icons are outlined in blue.
• Info Bubble: Clicking on an employee's picture icon opens an info bubble that provides additional details about the employee.
• Email: By clicking on an employee's email address directly from the form, you can conveniently send an email message to that employee. Vantagepoint seamlessly opens your email application for a smooth communication experience.
• Microsoft Teams Chat: If you have enabled the Microsoft Teams Chats from Deltek Vantagepoint option in Settings » General » Communications, you can initiate one-on-one chats with team members directly from Vantagepoint. Simply click on the Microsoft Teams Chat option to start a chat conversation.

New In-Product Guides

Deltek Vantagepoint 6.0 includes a myriad of new guides to help everyone from the newest user to the most seasoned Vantagepoint veteran. The in-product guides are as follows:

• What’s New in 6.0
• Search Dialog Restyling
• Search Navigation Improvements
• Resource Management Reporting
• Invoice History Columns
• IQ Integration
• Undock Project Structure

Updated Interactive Billing

Deltek Vantagepoint 6.0 introduces several valuable updates to the interactive billing module, enhancing the user experience and providing additional functionality for managing invoices effectively.

Streamlined Period Start/End Date Changes for Submitted Draft Invoices:

Previously, changing the period start or end dates of a submitted or approved draft invoice in the Invoice Presentation Dates section of the Billing Session Options dialog box required resubmitting the invoice for approval, even though these date changes did not impact the included transactions. In the latest update, you now have the flexibility to choose whether to resubmit the invoice after modifying the period start or end dates.

By updating the dates in the Billing Session Options dialog box without altering the transaction bill-through dates, you can save the changes without resubmitting the draft invoice. The new "Save" button allows you to update the period dates without the need for reapproval. However, if you modify both the period start/end dates and the transaction bill-through dates simultaneously, resubmission for approval is still necessary.

Warning Message for Voiding Invoices with Applied Payments:

When voiding an invoice from the Invoice History tab in the Interactive Billing form, a new error message now appears if there are any applied payments associated with that invoice. This prompt gives you an opportunity to review the applied payments before proceeding with the voiding action, ensuring accuracy and preventing unintended consequences.

Additional Columns in Invoice History:

The Invoice History tab of the Interactive Billing form now offers additional columns to provide a more comprehensive view of each invoice. The newly added columns include Amount Due, Amount Paid, Applied Retainer, Credit Memos, Invoice Total, and Retainage. These columns provide quick access to important invoice information such as amounts and payment status, enabling better invoice management and analysis.

Invoice Template Editor in the Browser Application:

With the latest update, the Invoice Template Editor is now available directly within the browser application. The Invoice Template Editor form empowers users to create and update invoice templates, which determine the format and content of invoices. This enhancement simplifies the customization process, allowing for easy modification and customization of invoice templates to meet specific business needs.

Looking for More?

If you’re looking to get your hands on even more Deltek Vantagepoint 6.0 updates, then we have got a lineup for you! We are excited to announce that our next webinar “What’s New in Deltek Vantagepoint 6.0” will be held live on Wednesday, June 7th, at 1 pm ET. This webinar will delve even deeper into Deltek Vantagepoint 6.0, providing you with comprehensive information to maximize your project management capabilities.

Additionally, stay tuned for our follow-up blog next week. Here we will review even more exciting features that will further enhance your project management experience with Deltek Vantagepoint 6.0. At Full Sail Partners, we are committed to keeping you informed and empowering you with the latest advancements in project management software.

During the implementation of Deltek Vantagepoint, professional services firms should understand the connection between the Organizational Breakdown Structure (OBS) and the Work Breakdown Structure (WBS). A typical first step to consider whether the firm needs to re-organize these structures. Whether it be the uniqueness of each, or the relationship between the two, the attention paid to these early stages of development is instrumental to the flow and reporting of information in your Deltek Vantagepoint database. In the following, we’ll explore some areas to consider when designing these structures in your database. 

Organizational Breakdown Structure (OBS)

When it comes to designing the Organizational Breakdown Structure (OBS) in Deltek Vantagepoint, it's important to consider the specific needs of your professional services firm. The OBS can range from simple to complex, depending on the size and requirements of your organization. Here are some examples of different OBS approaches. 

• Location Approach: With this approach, the OBS is organized based on the physical locations of your offices or project sites. Each location represents a hierarchical level in the structure, allowing you to track and manage projects and resources across different geographic areas. 
• Discipline/Department Approach: In the discipline or department approach, the OBS is structured around different functional areas or departments within your organization. This allows for efficient resource allocation, project assignment, and collaboration within specific areas of expertise. 
• Market Sector or Business Development Driven: This approach focuses on organizing the OBS according to your firm's market sectors or business development strategies. Each market sector or business development unit can be assigned a hierarchical level, enabling you to analyze performance and profitability based on these segments. 

Deltek Vantagepoint provides flexibility in designing your OBS, offering up to five hierarchical levels to accommodate your specific requirements. It also allows for the allocation of overhead requirements within the structure of the database. If you plan to utilize the multi-company functionality in your database, it's important to reserve level one for different companies within your enterprise. 

Financial accountability is a crucial aspect of any professional services organization. When building your OBS, it's essential to consider the financial implications. For example, if you use a two-level OBS structure, such as office and department, each combination will generate an income statement. This means that someone within your organization should be responsible for reviewing and managing these statements. 

Deltek Vantagepoint also enables the extraction of various cross sections for combined financial reporting. For instance, if you have a mechanical department in three offices, you can create a mechanical income statement that provides accountability at different levels: 

• Office Accountability: You can track the financial performance of each individual office separately, gaining insights into the profitability and expenses associated with specific locations. 
• Office/Department Accountability: This level of accountability allows you to analyze the financial performance of different departments within each office. It helps in evaluating the contribution of each department to overall profitability. 

• Overall Department Accountability: By consolidating the financial data of the mechanical department across all offices, you can assess the department's overall performance and make informed decisions regarding resource allocation and strategic planning. 

The OBS in Deltek Vantagepoint offers the flexibility to design a structure that aligns with your professional services firm's needs. By carefully considering the OBS approach, financial accountability, and the ability to generate cross-sectional reports, you can effectively manage projects, resources, and profitability within your organization. 

Projects and the Work Breakdown Structure (WBS)

The Work Breakdown Structure (WBS) is a critical component that determines how a project is organized and how revenue and costs flow within a professional services firm. Most firms find it effective to build their WBS based on project budgets, aligning with the fee and scope defined in the client contract using a bottom-up approach. 

Deltek Vantagepoint provides the flexibility to define up to three levels in the WBS, commonly referred to as Project, Phase, and Task. However, these labels can be customized to match your firm's preferences. Furthermore, the WBS allows for the assignment of accountability within a project. You can designate a project manager, as well as phase and task managers, based on their scope and budget responsibilities. 

It's important to note that project builds and WBS structures do not have to be identical across all projects. While each professional services firm may have its own unique requirements, it is generally recommended to have at least one WBS level 2 for every project, indicating another variation in the WBS. Additionally, projects can be built with no WBS level 3 or only certain portions of the WBS level 2 extending into the WBS level 3. 

The OBS and WBS structures function both individually and in tandem to support overall financial and operational accountability within your organization. At the lowest level, the WBS drives how revenue and costs are allocated within the OBS. Here are some additional factors to consider when working with the OBS and WBS structures: 

• "Mirroring" the OBS in WBS for Overhead Projects: For projects involving overhead costs, it can be beneficial to mirror the OBS structure within the WBS. This helps ensure that the appropriate overhead costs are accurately assigned to specific projects, allowing for better cost tracking and financial reporting. 
• Combinations of Cross-Charge, Intercompany Billing, and High Accountability in WBS: Consider how cross-charges, intercompany billing, and high levels of accountability will be incorporated into your WBS. Deltek Vantagepoint offers capabilities to support these requirements, allowing you to accurately allocate costs between different departments, offices, or business units within your professional services firm. 

By carefully considering these aspects of the OBS and WBS structures, you can establish a robust framework for financial and operational accountability within your professional services organization. Deltek Vantagepoint empowers you to customize and tailor the OBS and WBS to meet your firm's specific needs, ensuring accurate project tracking, cost allocation, and financial reporting. 

Is it Time to Update Your OBS and WBS Structures? 

In the ever-evolving landscape of professional services firms, it's crucial to regularly assess and update your Organizational Breakdown Structure (OBS) and Work Breakdown Structure (WBS) in Deltek Vantagepoint. As your business needs change and evolve, it becomes imperative to optimize your system to ensure it aligns with your current requirements. This is where our firm can help. 

One popular OBS/WBS methodology gaining traction is the implementation of a 3D matrix solution that incorporates both geography and market sectors. By combining these dimensions, you can create a powerful framework that enables efficient project management, resource allocation, and financial reporting. However, implementing such changes requires expertise and guidance from both functional and data consultants to ensure a smooth transition. 

At Full Sail Partners, we specialize in Deltek Vantagepoint consulting services, including OBS and WBS optimization. Our experienced consultants can work closely with your team to analyze your current structures, identify areas for improvement, and design a new and more productive system tailored to your unique needs. 

Timing and cutover planning are critical to the success of any system update. Our consultants will guide you through the entire process, ensuring that the implementation is seamless, minimizing disruption to your operations, and maximizing the benefits of the new OBS and WBS structures. 

Now is the perfect time to get creative and strive to get the most out of your Deltek Vantagepoint system. Don't let outdated structures hold your firm back. Explore the possibilities of a Navigational Analysis with our firm today. Let us help you unlock the full potential of Deltek Vantagepoint and drive efficiency, profitability, and growth within your organization. Learn more about how a Navigational Analysis can help your firm by clicking the image below.