Full Sail Partners Blog (37)

With the shift to an employee-centric marketplace, it has never been more important to focus on talent acquisition and retention. With Deltek Talent Management, you can manage the entire employee lifecycle in one built-in platform. You can efficiently handle acquisition, performance, learning development and compensation. By managing talent, you can retain the best workers, drive employee engagement and ultimately deliver more successful projects. Let’s see how Deltek Talent Management will help your firm be a winning player in the war for talent.

Acquire Top Talent

Deltek Talent allows you to build high performance teams while reducing the time to hire and to reach productivity. There is total visibility into talent acquisition with trends to see what positions are open and how quickly they are hired and onboarded. Using this talent management solution, you can also make sure you offer the most competitive compensation packages to candidates guaranteeing that top talent will join your firm.

Retain Talent

With thoughtful performance management that matches the way project teams work, Deltek Talent offers an effective way to keep the top talent you worked so hard to acquire. Included in the solution is a comprehensive incentive system aligned with performance. This ensures employee compensation transparency and consistency. Deltek Talent additionally comes with the option to build and store unlimited staff learning and training opportunities to keep employees engaged.

Optimize Your Workforce

Deltek Talent Management helps your firm strategically analyze the workforce and predict future needs. This solution allows managers and employees to work together to develop career paths and long-term development plans. Using Deltek Talent, your firm can even create succession plans which work for each unique business.

Manage Talent More Efficiently

Deltek Talent Management provides firms with a unified HR system. This solution is both mobile and flexible and will meet the needs of any firm no matter the size. Acquiring and retaining top talent ensures superior projects are delivered. Are you ready to prevail in this competition for the best employees? Get Deltek Talent Management today.

With the new Deltek Vantagepoint, Vision is re-imagined. Not only has the look and feel been improved, but there are many new enhancements that all users will love. This new browser-based solution helps your firm deliver more successful projects and grow your business. It’s built around the project—from finding, pursuing, winning, and delivering them. 

In the last quarter of 2018, Full Sail Partners’ consultants participated in early adopter testing of the Vantagepoint 2.0 solution. To say we are impressed with the new features and streamlined design and framework is an understatement.

In this article, three of our consultants share what sets Vantagepoint apart from Vision and why you should be excited. We will go into detail from Employee Scorecards and Project Plans to Multiple Dashboards and Milestone Dashparts.

While change can be scary, we assure that you will fall in love with the Vantagepoint enhancements we have seen so far, just like we did. 

Intuitive Business Development

Lindsay Diven, CPSM is a Senior Consultant for Full Sail Partners. Below are just a few of my new favorite features of Vantagepoint.

• All Companies in One Place – The previous Clients and Vendors has been combined to form a new hub called Companies.
• All People in One Place – The previous Leads and Contacts info center has been combined to form a new hub called People.
• Easily See All Associations for People and Companies – With streamlined hubs, you can easily see all the projects a company is associated with – either as a subconsultant or a prime.
• Easier Searching – You can easily build searches on the fly. You can add a field quickly and instantly preview results.
• Milestones Dashpart – A place to track and display all your CRM and proposal deadlines.
• Visual Dashboards by Function – You can easily toggle between Business Development, Project Management and Executive/Owner level dashboards.
• New Drag and Drop Proposal Builder – Long gone are the days of coding and testing merge templates! You can now see what your proposal looks like as you are building it.

Efficient Project and Resource Management

Below Principal Consultant, Matt McCauley, shares some of his favorite new aspects of Vantagepoint for creating and managing projects as well as managing resources.

• Create a Project and Plan Simultaneously – When you create a new Project Record, a Project Plan is automatically created.
• Add Multiple Resources to a Project at One Time – Quickly add multiple resources to a project with a few clicks.
• View Resource Management by Employee or by Project – Gain greater visibility into resource utilization.

Streamlined Accounting Functions

We sat down with Scott Gailhouse, Principal Consultant, to ask what his favorite new features of Vantagepoint are. He listed the following:

• All Reports in One Place – Get the information you need to make actionable decisions easily and quickly.
• Best of Both Worlds: Batch or Single Entry – Save time with easy functionality that allows for processing multiple transactions with a click of a button.
• Expanded Approval Center – New Approval center includes absence requests, expense lines, expense reports, timesheets and timesheet lines. You can also view the progress of the approval workflow.
• Update Fees in Interactive Billing – Update project fees while processing invoices.
• Employee Cards and Timesheet Calendar – New Outlook integration that allows for timesheets to be updated from a user’s Outlook calendar.

Learn More about Deltek Vantagepoint

To learn more about these new features and see examples, make sure to watch our webinar Things We Love About Deltek Vantagepoint So Far. This is the first in a series of webinars on how to prepare for Vantagepoint.

2018 was a banner year for mergers and acquisitions (M&As) across the A&E industry. If trends continue, 2019 should be even better. So, what is the driving force behind this increase in deals? Let’s check out why firms want to make these big changes.

Buying for Geography

Firms are wanting to expand their footprints. In many cases, a firm entrenched in a state or region has a desire to expand its services and brand to new territories. In some instances, this is driven by their clients who insist on a physical presence in order to win work. Additionally, there is an advantage to acquiring a firm in a desired territory since it comes with a backlog to help in absorbing the cost of becoming established and selling new work.

Buying New Disciplines

Often in tandem with geography there is a desire to grow a firm’s offerings and skill sets. This can be addressed in one of two ways:

1. Acquiring a firm with parallel disciplines that are in different market sectors
2. Acquiring a firm with a completely different discipline base

Both instances provide the opportunity for cross selling and talent development.

Acquiring the Competition

Another common occurrence in the M&A world is acquiring competitors. Simply, it’s a great way to see immediate market growth. When acquiring the competition, there is the option to absorb staff into your firm’s current workforce. Therefore, the need for acquiring resources can lead to buying the competition.

Selling to Private Equity

Another trend is selling to private equity.  This allows the firm being acquired to continue operating as is and use the infused capital to hire new talent or purchase assets, or to buy out members of the existing ownership looking for an exit strategy. Selling to a private equity group doesn’t come without its challenges though. These purchases often require a material change in accounting practices and reporting, and new ownership doesn’t always understand the operation or industry. In addition, follow on sales between equity firms are always looming.

What’s Your Firm’s Reason to Go Down the M&A Road?

Each firm has its own reasons for choosing to go down the M&A road. Is 2019 going to be the year your firm makes a move to gain a better hold in the A&E industry? If so, remember that it is always recommended to seek outside parties to help with the technical aspects of the M&A process.

As a small to medium business owner, IT management can be a big headache. Your real work is often disrupted by IT issues such as adding new employees, getting your staff’s machines and apps running, and updating software and support. Moving to the cloud with hosted apps and desktops is the best solution for your firm. Let’s look at the benefits of cloud hosting.

Mobilize the Workforce

With a hosted virtual desktop service, employees have access to apps, documents and other resources from anywhere. All that is necessary is an internet connection and an end point device. Employees can get work done on the go and feel like they never left their workstations.

Business Continuity

Data is safe and always available with a hosted service. If there is a power outage or natural disaster, the offsite data center provides firms with no disruption of service. Data is always secure in the virtual data center which ensures protection with built-in data encryption.

Reduced IT Costs

With a hosted solution, no IT expertise is needed by the firm. Firms will end up spending less on licensing fees and off-site data storage and backup. Anti-spam and virus management is also provided in addition to 24x7 help desk support.

Focus on Growing Your Business

Moving to the cloud with hosted apps and desktops leaves time for your firm to focus on your real work and growing your business. Using the cloud solution, the days of having to manage apps, desktops and servers are in the past. Instead, all the updates and patches are handled for you. Are you ready to move to the cloud?

Professional services firms focus on specific industries and provide a plethora of knowledge to their clients in the projects they undertake. For existing clients, professional services firms must continue to stay abreast of the most recent events or rules impacting that industry. They must also continue to build their client base with business development. There are numerous organizations available to professional services firms and many benefits to join them. Let’s take a look at some.

SMPS

The Society for Marketing Professional Services (SMPS) provides a creative and inspiring community to exchange ideas. Members can connect with A/E/C professionals from other firms and disciplines across the country. The information gleaned from networking with like-minded professionals can be applied to your firm’s business. Also, sharing your firm’s best practices can establish your company as a thought leader in the A/E/C industry. Additionally, the new connections in the A/E/C community that you make from SMPS can lead to future business opportunities for your firm. 

PSMJ Resources Inc.

The mission of PSMJ is to improve the business performance of A/E/C organizations worldwide. Membership in this organization provides several advantages. First off, member firms are offered advisory services from expert consultants who serve as coaches pushing firms to achieve greater success. Next, these experts annually conduct hundreds of bootcamps, workshops, roundtables, and networking conferences which provide industry education and a chance for business development. There are also numerous publications available such as articles and books which give solutions to A/E/C challenges. Finally, surveys are performed presenting accurate and relevant industry metrics that firm leaders rely on in making decisions. 

ACEC

The American Council of Engineering Companies (ACEC) is another organization providing great value to professional services firms. ACEC’s mission is to strengthen the business environment for member firms through government advocacy, political action and business education. This organization addresses key issues impacting A/E/C firms and provides online classes and seminars. Additionally, there are networking conferences for firm leaders to develop relationships. ACEC communications cover important legislative matters, and a magazine with thought provoking articles on advocacy and other business interests is published bimonthly. 

Deltek User Groups

There are many Deltek User groups offered across the United States. The Large Firm User Group (LFUG), the Power User Group (PUG) and regional groups by state are ideal networking environments for all Deltek users. These venues provide great opportunities for users to network, trade Deltek experiences and examine best business practices. In these forums, users can grow both professionally and personally gaining information on industry trends, new product features and business processes. 

Join Some Organizations

Professional services firms have much to gain by signing up with a variety of organizations. From firm leaders, to marketers to regulatory specialists, everyone can benefit from being members of these groups. Take some time and think about which organizations are the best match for your firm needs. Once you know, joining is just a click away!

As year-end rolls around, it is vital to prepare for year-end close well in advance. Some may be wary of the task ahead, but do not get overwhelmed. Here are some things to consider to make this daunting task easier.  

Use A Year-End Checklist

Using a checklist will help you track activities that are complete and those that still need your attention. Some items you may want to add to your checklist are:

• Reconcile all cash accounts - Verify all transactions have been posted into Vision/Vantagepoint to ensure your general ledger balances matches your bank statements. Make adjustments as required.
• 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.). Are all fixed assets reported on the balance sheet still owned? If not, record the sale or disposal of these fixed assets. Verify the depreciation on your fixed assets as well. Make any necessary adjustments.
• Employee Expenses and AP - Verify that all accounts payable vouchers have been recorded in 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. Make adjustments if necessary.
• W-9’s – Order 1099 forms. Make sure all W-9’s from your vendors and/or contractors that are paid $600 or more throughout the year are on file. Don’t forget 1099’s should be mailed on January 31st. 1099 forms can be purchased from most office supply stores or you can order them for free from the IRS (gov).
• W-2’s – Order W-2 forms if you run payroll in Vision/Vantagepoint. W-2’s should be mailed by January 31^st.
• Budget for next year - Create your GL budget for 2018.

Bonus Year-End Tips

Here are just a few tips to make your year-end close just a little easier:

• Communication – It is vital to communicate to the rest of the firm that year-end is approaching and the important dates that they should be aware of: final timesheet due date, final expense report due date, etc.
• Create a calendar – Your calendar should contain all of your year-end deadlines: final AP check run, final timesheet due, final bank rec are all dates you may want to add to your year-end calendar.
• Create a year-end manual – Given that year-end procedures change very little from year to year, create a manual. With a manual to refer to, you no longer have to rely on your memory or cryptic notes you may have taken in years past.
• Reconcile on a monthly basis. Stay on top of your monthly reconciliations. Nothing adds to the stress of year end more than performing several months of reconciliations that could be done monthly.
• Recurring transaction files – If there are yearly JE’s or other transactions that you only post once a year, consider creating a recurring transaction file. Each year those files will already be in place so you don’t have to re-create them from year to year.
• Order year end forms well in advance. Why wait until the last minute to order your 1099 and W-2 forms? By ordering your forms in advance you know they are on hand when you are ready to process.

Get Ready for 2019

Deltek publishes the Year-End Bulletin each year. This is an excellent resource for preparing for year-end. Make sure to visit the Deltek Customer Care site to ensure you close out 2018 properly and your firm is ready for 2019.

One of the most time-consuming processes for accounting is accounts payable (AP). In fact, the entire process from receiving and reviewing invoices to paying the vendor is riddled with opportunities for errors. To make matters worse, 77% of invoices received by companies are in a manual format such as hard copies, PDFs and emails, and the average cost to process one invoice is $34. There is, however, a way to put an end to these ever-present accounting woes – automate the AP process.

Reasons to Automate the AP Process

Let’s look at the benefits of automation:

• Save Time – Using optical character recognition (OCR) technology, AP automation software reduces the need for manually inputting information from an invoice into your firm’s accounting system
• Eliminate Errors – With less reliance on manual input, the element of human error is greatly reduced
• Faster Processing – AP automation software allows for faster approval since the software will flag invoices that have inaccurate information
• Reduce Double Payments – AP automation software will flag a duplicate invoice when on the rare occasion a company accidentally sends two or more of the same invoices
• Gain Greater Insight – With invoices in one system, firm leaders and the entire accounting staff can quickly evaluate spending using easy to read dashboards
• Improved Relationships with Vendors – By paying invoices faster, your firm will have a better relationship with vendors and even possibly get an early payment discount
• Better Staff Utilization – Instead of having accounting experts processing AP, they can work on more important accounting tasks

AP Automation Solution for Deltek Vision & Vantagepoint Users

For Deltek Vision and Vantagepoint, SAP Concur integrates with these ERP systems utilizing the Blackbox Connector integration. When you begin using Concur, you can have all your vendors email invoices to one specific email address. Concur will then use OCR technology to collect the information contained in the invoice which can be reviewed by a member of the accounting staff to approve or deny payment. Once approval has been given, a check or ACH payment can be made.

It’s important to note that Concur then uses Expense Types to link all invoices to the correct GL account. This information is then extracted on a nightly basis into your Deltek system keeping it up-to-date. See, it is actually quite simple. Let Concur AP automation work for your firm!

Full Sail Partners is pleased to announce that it has achieved SAP Concur Implementation Partnership (CIP) status after an extensive training process. The certification means our consultants will configure SAP Concur solutions for Deltek Vision clients. While Full Sail Partners has already been guiding Deltek Vision clients on how to connect their SAP Concur system with Deltek Vision, this endeavor expands our capabilities further to allow a more cohesive implementation process.

“As firms continue to incorporate and increase the use of technology to improve their employees’ experience, the value of solutions like SAP Concur are saving firm’s money by reducing mistakes and fraud, while providing further visibility into the firm’s spend,” stated Sarah Gonnella, VP of Marketing & Sales. “SAP Concur’s relationship with Full Sail Partners is incredibly strong and our expanded alliance will allow new customers to benefit from our knowledge of the professional services industry.”

Full Sail Partners chose two consultants, Nicole Temple and Theresa DePew, to go through the rigorous nine day training program. With many years of Deltek Vision ERP experience, these consultants are well equipped to take on the SAP Concur certification program. As a part of the CIP certification, Full Sail Partners can now configure the SAP Concur expense module that was previously provided by the internal SAP Concur team. Full Sail Partners services now include: policy evaluation, design, set-up, integration, review, validation, deployment training, overall project management, and handoff to support.

“Our Blackbox Connector enables Deltek Vision clients to leverage the power of SAP Concur expense and invoice capabilities and combine that with Deltek’s robust ERP system. However, during that process our staff identified we can also streamline the Concur implementation process and ensure a more successful implementation because of our staff’s knowledge of project-based firms,” commented Scott Seal, VP of Consulting.

Full Sail Partners is always seeking out ways to improve our client experiences which is why we were excited to obtain CIP status. Our firm’s familiarity with both SAP Concur and Deltek Vision will benefit our clients tremendously. With ample knowledge of both systems and how they integrate, our consultants can save clients time and vastly reduce implementation efforts.

SAP Concur is the world’s leading provider of integrated travel and expense management services and solutions. On the web, on a smartphone or on a tablet, SAP Concur’s cloud-based solutions deliver an effortless experience for employees and total transparency into spending, helping organizations of all sizes, industries and locations run better. We can help yours run better, too.

For more information, please contact Full Sail Partners’ Marketing and Communications Department. 

Many Deltek Vision customers have been a bit confused by the announcement of Deltek Vantagepoint (formerly Deltek for Professional Services). Well, Deltek Vantagepoint is the newly branded and freshly reimagined next version of Deltek Vision specifically built for professional services organizations. The starting point for Vantagepoint was Vision 7.6 and this initiative has been about accelerating the product to a pure browser-based interface which began with iAccess. Let’s take a look at Vantagepoint and the impact on Vision users.

Reimagined Next Version

Vantagepoint is the same great product with all the power of Vision using a fresh, modern interface that will be accessible to anyone, anytime from anywhere. This next version of Vision has impressive new features, reengineered workflows and expanded functionality. All of these enhancements were created based upon years of customer feedback taking Vision to a completely new level.

User Defined Content

As part of the upgrade to Vantagepoint, user defined content and configurations within Vision come along. Some areas will need to be reviewed to make sure things continue to work and look the way you want due to the functional improvements of Vantagepoint. However, the configured content will not be lost in the upgrade which is very similar to a typical Vision upgrade.

Custom Reports

In Vantagepoint, the reporting platform is SQL Server Reporting Services just like in Vision. The architecture and database structure of Vantagepoint is the same as Vision since Vision 7.6 was the starting point. Custom reports and/or invoice templates should continue to function in Vantagepoint. If a custom report references a portion of the database schema that changed in Vantagepoint, it will need to be reviewed with minor updates just like it would have with Vision upgrades.

Upgrade on Your own Timeline

During the transitional phase between Vision and Vantagepoint, the timing of the upgrade is up to the customer. Upgrade timing depends on what functionality your firm is using in Vision today. Vision 7.6 will remain in active support mode including updates until at least the end of 2022. Moving to Vantagepoint does not require a data conversion but rather all Vision data is simply upgraded. Just like with any Vision upgrade, there may be the need to accommodate functional changes.

Upgrade to Vantagepoint

More than 200 customers are currently using Vantagepoint today. For all Vision customers, there is an existing customer portal to learn about Vantagepoint https://dsm.deltek.com/Vantagepoint. All firms using Vision are encouraged to consume the portal content in order to ensure a smooth upgrade.

Full Sail Partners, a Deltek Platinum Partner, is pleased to announce that it has been selected as a recipient of the 2018 Premier Award for Client Satisfaction by PSMJ Resources and Client Savvy, creator of the Client Feedback Tool. This recognition only goes to firms involved in the AEC industry who have gone above and beyond to deliver a truly exceptional client experience.

The success of professional service firms depends on creating strong client relationships, specifically through the service delivery of a project. Full Sail Partners recognized this need not only for its own firm, but for others in the industry. In order to gain consistent feedback on their projects, Full Sail Partners identified a need to streamline and automate the process for Project Managers. This endeavor resulted in creating their first Blackbox Connector to share data between Deltek Vision and the Client Feedback Tool.

“Among other aspects of our CX strategy, Full Sail Partners has found great success in consistently using the Client Feedback Tool to gauge client insight and make appropriate changes to improve the client experiences,” stated Sarah Gonnella, VP of Marketing and Sales. “We are greatly honored to be recognized with this Premier Award for Client Satisfaction.”

For more than 40 years, PSMJ Resources, Inc. has been recognized as the leading publishing, executive education, and advisory group devoted completely to improving the business performance of A/E/C organizations worldwide.

Recipients of the Premier Award for Client Satisfaction are determined using data collected from 280,000 surveys across 300 firms. Based upon the surveys, firms which really stand out regarding client feedback are given this prestigious designation. The 2018 award winners will be recognized at the October THRIVE conference put on by PSMJ in San Diego.

“Full Sail Partners sets themselves apart from competition through creating great experiences and outcomes for their clients,” stated PSMJ Resources Founder and CEO Frank A. Stasiowski, FAIA. “As we hear more and more frustration from architects and engineers about downward pressure on fees, delivering a best-in-class client experience is one of the best ways to differentiate your firm.”

Client Savvy works with professional services organizations whose success depends on strong client relationships. Their commitment to clients is to help them align their client experience (CX) strategy, implementation, and measurement initiatives with their top strategic priorities.

“Firms committed to delivering great client experiences are twice as likely to be recommended by their clients, three times as likely to realize above-average financial returns, and consistently attract and retain better employees. Full Sail Partners commitment to listen and act is a foundational component of every great client experience strategy.”

For more information, please contact Full Sail Partners’ Marketing and Communications Department.