Full Sail Partners Blog (4)

Why Deltek ProjectCon 2023 is a Must-Attend Event 

Are you prepared to propel your project-based business to the forefront of industry excellence? Look no further than the horizon of Deltek ProjectCon 2023 – an indispensable event for professionals deeply entrenched in project-focused industries. Overflowing with motivation, education, and unparalleled networking prospects, this year's conference emerges as an irreplaceable milestone on your journey.  

As proud sponsors, exhibitors, and presenters, Full Sail Partners eagerly extends an exclusive invitation to navigate this transformative journey, set to unfold at the enchanting Gaylord Palms Resort in Orlando, Florida, from October 16 to 18. Deltek ProjectCon isn't just a conference; it's an experience designed to empower you and your project-based firm.  

First off, here's a closer look at 3 big reasons why you ought to immediately circle this event on your calendar and claim your spot. 

#1: Learning Beyond Limits 

The Deltek annual conference boasts an impressive lineup of 300+ engaging sessions across 15 racks that promise to deepen your product knowledge and provide valuable insights into industry trends. Earn Continuing Professional Education (CPE) credits as you discover innovative solutions and services that will fuel your project success. Whether you're a seasoned professional or just starting your journey, the learning opportunities are boundless. 

Take a moment to review the session catalog here. 

#2: Forge Unbreakable Connections with Your Fellow Deltek Users 

Connectivity is key in the world of project-based business, and Deltek ProjectCon offers unparalleled networking opportunities. Engage with Deltek experts, peers from your related industry, fellow attendees, and, of course, the Full Sail Partners’ Crew! From one-on-one meetings to interactive braindates, you'll forge authentic connections that can propel your career and business forward. 

#3: A Fusion of Fun and Learning 

Deltek ProjectCon understands that it’s not all about business; it’s about having fun and building memories that matter too. Immerse yourself in special networking events, participate in philanthropic activities, and let loose at the epic customer appreciation party. It's a chance to relax, unwind, and recharge while still gaining valuable insights. 

If those reasons alone don’t give you enough motivation to come to Deltek ProjectCon this year, just remember that the Full Sail Partners’ team of experts will be available to conference attendees. We will not only be active participants in the event but will be presenting a valuable learning session that is one of a kind. And just like every year that Deltek has put on the annual conference, we will be bringing the knowledge that comes with more than 275 years of experience with Deltek products. 

Full Sail Partners: Your Guide to Project Management Superpowers 

As we step into our role as sponsors, exhibitors, and presenters at Deltek ProjectCon 2023, Full Sail Partners offers an exciting opportunity to witness our expertise firsthand. Brace yourself for a front-row seat to our presentation, "Unlocking Vantagepoint Integration Superpowers with Blackbox Connector," scheduled for Tuesday, October 17, at 2:00 p.m. ET.  

In this informative session, we’ll unveil how our turnkey Deltek Vantagepoint integration can revolutionize your connections with third-party applications. Say goodbye to coding headaches and hello to our seamless Blackbox Connectors for ADP Workforce Now, SAP Concur, Entrinsik Informer, Intuit Mailchimp, and more. Our low-code implementation strategy saves time, cuts costs, and eliminates upgrade worries, unleashing the true power of Blackbox Connector to transform your business with efficiency and productivity. 

Here’s what you can expect to learn during our session: 

• Unveiling the key benefits of turnkey Deltek Vantagepoint integrations and their far-reaching effects across diverse business functions. 
• Unpacking the tactical deployment of low-code strategies, ensuring seamless Deltek Vantagepoint system integration with third-party applications. 
• Identifying avenues for process enhancement through harnessing the prowess of Blackbox Connector. 

• Hearing compelling tales of successful Blackbox Connector implementations, directly from user experiences. 

Join our presenters, Pete Nuffer and Sarah Gonnella, in this very enlightening and inspiring session. To ensure you don't miss out, make sure to include our session on your must-attend list. You can conveniently add it to your program by clicking here.  

Unraveling the Full Sail Partners’ Experience 

The engagement doesn't stop after the presentation. Our experts are excited to connect with you at kiosk 5A in the lively XPO hall. Keep an eye out for our easily recognizable red shirts – the Full Sail Partners’ Crew is ready to address your questions, provide live demos, and assist you in realizing the full capabilities of your solutions. This is a valuable chance to tap into our collective expertise and equip yourself with the resources necessary to invigorate your project management pursuits. 

And we love meeting new clients “in real life” as well as catching up with familiar faces. So, stop by and say hi! 

Unlock Your Project Management Future at Deltek ProjectCon 2023 

If you're primed to amplify your project-based firm and open the door to unprecedented achievements, then Deltek ProjectCon 2023 beckons. Save the dates – for October 16 to 18 – and immerse yourself in the world of learning, connection, and fun to be had this year at the Gaylord Palms in Orlando, Florida. The horizon of Deltek Project Nation awaits you, and together, we shall cultivate a future where your project management prowess knows no bounds. 

Ready to secure your spot? Click the image below to register for Deltek ProjectCon 2023 today! Be sure to mention you heard about the conference from Full Sail Partners during your registration. We're eagerly counting down the days until we meet you there. We can't wait to see you! 

The Labor Cross Charge utility of Deltek Vantagepoint is often an underused accounting feature by project-based firms. It is simply not being utilized because users are not quite familiar with the concept and how it could be of benefit. So, first off, the labor cross charge capabilities in Vantagepoint are based on similar theories as multi-company but are focused on the interaction within a project-based company and its organizational breakdown structure (OBS) and only focuses on labor. Before we dive deeper, here are some links to some resources about multi-company functionality and OBS in case you are unfamiliar with these topics.  

High-Level Insight into Cross Charge in Deltek Vantagepoint 

To those unfamiliar with the concept, cross charging is a financial tool that only impacts the general ledger. It does not change project reporting since the time charged to a project remains on the project for billing and reporting purposes. Cross charge is labor-focused and occurs after the timesheet is posted.  

Since Deltek Vantagepoint is project-based, this simply means that time is entered to a project number whether time is spent on a regular, revenue-producing project or an overhead effort. By default, the labor cost follows the project’s organization. If the cross charge process is not configured or run, the labor cost will remain on the income statement of that organization.  

Why Use Cross Charge?  

As financial and operational managers, we know that revenue can only be earned when a cost is incurred. For this reason, cross charge allows project-based businesses to move these elements in and out of various “buckets” within their organization. When a combined income statement is run, all cross charge entries will zero out and the original revenue and cost will remain.  

The cross charge process is used when project-based firms loan and borrow resources at the lowest level of the OBS, which could be:  

• Office - OBS is organized based on the physical locations of your offices  
• Department/Discipline - OBS is structured around different functional areas or departments within your organization 
• Market Sector - OBS is focused on your firm's market sectors   

A good situation for using cross charge would be with a civil engineering firm where projects will be needed for various disciplines. For instance, the survey department would loan their staff to the engineering projects and cross charge would be the financial component to drive and manage the accounting for the labor.  

There are two internal pricing options to choose from when configuring cross charge:  

1. Project Centric – This is when labor remains on the income statement of the organization where the project resides. A multiplier is then used to move some portion of operational/overhead (OH) costs from the loaning organization to the borrowing organization. This factor could be limited to a fringe benefit rate or represent a breakeven OH rate or even include some profit. The purpose is to ensure that the loaning organization has an incentive to keep their staff busy, but they also need to be mindful not to over-extend their resources. 
2. Employee Centric – This works by sending labor back to the employee’s organization. Using typical billing rates, although a multiplier can be used, the revenue is moved from the project’s to the employee’s organization. The purpose again is to ensure the loaning organization doesn’t lose the ability to show a profit by sharing their staff.  

Real-life Application of Cross Charge in Deltek Vantagepoint 

Here is a success story where the operational process and projects are built on the premise that fee and scope drive work breakdown structure (WBS) in a client’s Deltek Vantagepoint database. Under this model, high accountability becomes the first option where phases and tasks within a project are assigned to different organizations based on the portion of the work. Employees charge the phase/task that is assigned to the organization they “live” in. This results in more closely managed projects because the profit accountability is shifted back to the organization supplying the labor. This process eliminates the need for cross charge. 

 However, realizing that in order to run successful projects, there is a necessity to anticipate unplanned needs. This means that the project-based firm must have the ability to borrow an employee from another department for a short-term assignment or a last-minute need. For example, the base building studio decides it needs input from the interior design studio. In this scenario, the client falls back on the project-centric method noted above as a mechanism to facilitate resource sharing and not impede project progress. Furthermore, this is a prime example of a need for cross charge.  

Gain Control of Resources with Cross Charge  

The Labor Cross Charge utility in Deltek Vantagepoint can provide the functionality required to ensure an open and smooth process of resource sharing for your project-based firm. With a thorough understanding and effective implementation, cross charge can provide another dimension in managing your business.  

Interested in more information about using cross charge and how it can help unlock the full potential of Deltek Vantagepoint? Want to learn other ways of ensuring your project-based firm is running as efficiently as possible? If so, Full Sail Partners is happy to offer your firm a Navigational Analysis. 

Human Capital Management is a critical aspect of the architecture and engineering (A&E) industry, as it plays a pivotal role in attracting, retaining, and developing skilled talent to drive business growth. The 44th Annual Deltek Clarity Architecture & Engineering Industry Study highlights key challenges and initiatives related to HCM in the A&E sector. In this blog, we will touch on some findings regarding HCM trends to understand how A&E firms can enhance their HCM strategies to stay competitive and succeed in today's dynamic market. 

Focus on Developing and Cross-Training Existing Staff  

With staffing challenges persisting and the cost of new hires on the rise, A&E firms must shift their focus towards developing and cross-training their existing staff. The Clarity study indicates that the number of firms reporting more open positions in 2022 fell compared to the previous year. To encourage this trend, these professional services firms are increasingly turning their attention to internal talent development to meet project demands effectively. 

To address this challenge, these professional services firms should invest in robust training and development programs that empower employees to acquire new skills and take on more responsibilities. By cross-training staff, A&E firms can create a more versatile workforce capable of delivering projects across different disciplines and specialties. Additionally, these efforts boost employee satisfaction and reduce turnover, leading to a more stable and productive work environment. 

Finding the Right Solutions and Tools for Talent Acquisition 

Acquiring the right talent is an ongoing challenge for A&E firms. This year’s Clarity study highlights difficulties in finding time and budget to select the best technology solutions that can identify and accelerate candidate selection. To address this issue, professional services firms like architects and engineers should explore innovative talent acquisition tools and techniques to widen the candidate pool and streamline the hiring process. 

Furthermore, implementing an efficient applicant tracking system (ATS) can help manage job postings, track candidate applications, and streamline the recruitment workflow. Also, leveraging artificial intelligence (AI) and data analytics in talent acquisition can provide valuable insights for identifying qualified candidates and predicting their potential fit within the organization. 

Offering Competitive Compensation 

In a competitive talent market, A&E firms are facing increasing pressure to offer attractive compensation packages to attract and retain top talent according to the 44th Clarity report. The cost of new hires is rising, and employees are seeking competitive pay and benefits to align with their skills and experience. 

To remain competitive, these professional services firms should regularly review their compensation structures, benchmark against industry standards, and consider geographical variances in salary offerings. Moreover, investing in compensation management tools can facilitate data-driven decision-making and ensure that salary offers are competitive and fair, reducing the risk of losing potential candidates to competitors. 

The Availability of Good Candidates 

Based on this year’s Clarity study, while the turnover rate has stabilized, the availability of qualified candidates remains a challenge. A&E firms should focus on nurturing and developing existing talent while seeking external candidates to fill open positions. Upskilling, cross-training, and offering career development opportunities are essential to position firms for growth. 

Furthermore, creating a strong employer brand through targeted employer branding initiatives and robust employee value proposition (EVP) can help attract diverse and skilled candidates. These professional services firms can additionally leverage their existing employees as brand ambassadors to promote the company culture and highlight growth opportunities within the organization. 

Building Diversity, Equity, and Inclusion (DE&I) Programs  

The 44th Deltek Clarity study emphasizes the growing importance of DE&I initiatives in these professional services firms. Many A&E firms acknowledge the need for DE&I programs but are unsure about how to measure and implement them effectively. 

A&E firms should start by conducting a DE&I assessment to identify areas for improvement and set specific goals for enhancing diversity and fostering a more inclusive workplace. Creating an inclusive work environment requires ongoing efforts, including diverse hiring practices, inclusive leadership training, and regular monitoring of DE&I metrics to measure progress. 

Learn More about HCM Trends from the 44th Deltek Annual A&E Clarity Study 

As seen from the findings of this year’s Clarity report, Human Capital Management is a critical factor in the success of architecture and engineering firms. By focusing on developing existing staff, implementing effective talent acquisition tools, offering competitive compensation, nurturing good candidates, and building robust DE&I programs, these professional services firms can position themselves for growth and stay ahead in a competitive market. Additionally, leveraging technology and data-driven strategies can further optimize HCM efforts, leading to improved employee satisfaction, reduced turnover, and overall business success. As the A&E industry evolves, firms that prioritize and invest in their human capital will be better equipped to tackle challenges and seize opportunities for future growth.  

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

In light of the recently unveiled 44th Annual Deltek Clarity Architecture & Engineering (A&E) Industry Study, we now have the opportunity for an in-depth exploration of its key sections, beginning with a comprehensive analysis of the Business Development Trends. In this dynamic industry, architecture and engineering firms are faced with the challenge of navigating a landscape marked by both strong growth prospects and increasing competition. To stay ahead, these professional services firms must adopt a more strategic approach to capture planning, leverage internal resources effectively, and nurture client relationships.  

Here in this blog, let’s delve into some of the key insights and initiatives from the 44th Clarity A&E report that will drive success for these professional services firms seeking sustainable growth and a competitive edge in the market. So, what are some of the latest trends shaping the future of business development in the architecture and engineering sector? 

Revenue Growth Forecast 

This year’s Clarity study predicts a robust but more conservative revenue growth forecast for architecture and engineering firms. While the industry remains strong, A&E firms need to be cautious and strategic in their pursuit of revenue growth. This calls for more careful capture planning and leveraging internal resources effectively to build momentum for future growth. To achieve success in this landscape, these professional services firms must align their strategies with the changing market dynamics and economic conditions. 

Identifying New Prospects and Increased Competition 

Qualifying potential clients that align with an A&E firm's strengths is a persistent challenge in the industry. As markets evolve, firms must be more selective in targeting pursuits that align closely with their offerings, talents, and resources. Simultaneously, they should diversify into markets that align with their long-term business goals. The 44th Deltek Clarity study also highlights increased M&A activity, leading to larger firms with greater resources. This poses a dual challenge for A&E firms, as it both intensifies competition and opens opportunities for collaboration through strategic networking and teaming. 

Time to Nurture Client Relationships 

With the market poised for continued growth, nurturing existing client relationships becomes paramount according to this year’s Clarity study. A&E firms must invest in fostering strong and lasting connections with their current clients. This involves understanding their needs, providing exceptional service, and identifying opportunities to add value. In addition, these professional services firms need to innovate and find creative ways to attract new prospects, leveraging their existing business development talent to cultivate new leads. 

Challenges and Initiatives 

The 44th Deltek Clarity study identifies several challenges faced by architecture and engineering firms. Time constraints, limited resources, and the increasing cost of competing for projects are significant hurdles. To address these challenges, A&E firms are adopting cross-training initiatives. By empowering internal staff to handle business development tasks, these professional services firms can effectively utilize their resources and create a more robust and adaptable workforce. 

Furthermore, implementing a formal go/no-go process is another crucial initiative that A&E firms are focusing on. This process allows firms to evaluate potential projects more objectively, considering factors such as staffing levels and internal business metrics. By making informed decisions on project pursuits, these professional services firms can improve their win rates and optimize their use of resources. 

Net Revenue Growth Forecast 

This year’s study highlights a decline in the net revenue growth forecast for 2023 compared to the post-pandemic high of 17.6% in 2022. While the forecasted growth of 10.2% remains positive, A&E firms need to carefully monitor market conditions and adjust their strategies accordingly. This reduced growth forecast calls for a more cautious and strategic approach to business development, ensuring that firms maintain a strong financial performance despite the changing market dynamics. 

Marketing Techniques and Future Outlook 

A&E firms are employing a mix of marketing techniques to reach and engage their target audience based on the 44th Deltek Clarity report. It notes that social media and client-specific marketing continue to be top strategies, providing these professional services firms with avenues to showcase their expertise and build strong relationships with clients. Additionally, as in-person events become safer post-pandemic, trade shows and exhibits are regaining importance as effective marketing opportunities. 

Looking ahead, A&E firms must remain adaptable and open to emerging marketing technologies. As the industry evolves, these professional services businesses need to embrace digital strategies and explore new avenues to reach potential clients effectively. 

Learn Even More About Business Development Trends for A&E Firms 

The 44th Deltek Clarity A&E Industry Study provides valuable insights into the current and future business development trends in the architecture and engineering sector. By adopting strategic planning, nurturing client relationships, and making the most of their internal resources, A&E firms can navigate the changing landscape and ensure sustainable growth in the competitive industry. Embracing a diversified marketing approach and staying receptive to emerging technologies will position these professional services firms for success in the dynamic architecture and engineering landscape. For more details on Business Development Trends, read the full report. 

How does your firm measure up? That is the vital question many architectural and engineering (AE) firms should be asking themselves. It is challenging to manage what you are unable to measure! There are several key performance metrics that an AE firm should use to determine its current status. These measurements are important to not only keep you abreast of the condition of your company, but they also allow you to examine the past, so you can plan for the future. Let’s look at a few of the significant performance metrics. 

Proposal Win Rate

When we talk about Proposal Win Rate, we're essentially looking at how effective your business development efforts are at turning potential leads into actual projects. It's like keeping score on how well you're playing the business game! By tracking this rate, you gain valuable insights into what strategies are paying off and which ones might need a little tweaking. 

Even the tiniest improvement in your win rate can have a huge impact on your bottom line. Think about it – landing just a few more projects out of every ten proposals can make a significant difference in your profitability.  

In the fiercely competitive world of AE firms, the ability to gain new business is like having a superpower. It's what sets successful firms apart from the rest. So, honing your business development skills and consistently improving your win rate is critical to your success. 

Here's a pro tip: When analyzing your Proposal Win Rate, pay attention to the reasons behind both your wins and losses. Learning from both successes and setbacks is the secret sauce to continuous improvement. You might discover patterns that can help you replicate your victories or identify areas that need some extra attention. 

Profit

Profit is a crucial metric for any AE firm’s success. It tells you how well your firm is doing financially. It's the money left over after deducting all expenses from your gross income. Profitability metrics help AE firms figure out which projects are worth pursuing. It shows you if you're making enough money to keep your operations going and growing. 

Analyzing your profit helps you make smart decisions about where to focus your efforts and resources. It's like a report card for your financial performance. Being profitable is essential for your firm's sustainability and growth. It allows you to invest in your business and attract top talent. 

But don't get too fixated on profit alone. Keep in mind that different projects may have different profit margins and timelines. 

By keeping a close eye on your profit over time and comparing it to your goals, you can spot areas for improvement and make informed decisions for a prosperous future. 

Labor Utilization

Labor utilization is a metric that helps you measure your team's efficiency. It ensures you have the right number of employees for optimal performance. By analyzing labor utilization, you can identify both high and low performers, enabling you to take targeted actions for improvement. 

To maintain an effective labor utilization rate, review both billable (direct) and non-billable (indirect) hours. Monitoring this metric allows you to make data-driven decisions and allocate resources wisely for maximum productivity. 

A well-utilized team leads to a happy and productive work environment, driving your firm's success. Keep an eye on labor utilization for a thriving team and business! 

Net Revenue/Operating Income

Net revenue and operating income are like a dynamic duo that keeps your business running smoothly and efficiently. Let's take a closer look at these essential metrics and understand why they're crucial for your AE firm's financial success. 

First up, net revenue is the lifeblood of your business. It's the total revenue your firm generates after deducting any discounts, returns, or allowances. Think of it as the fuel that keeps your business engine roaring. Without sufficient net revenue, your firm's growth and sustainability could hit a roadblock. 

Operating income, on the other hand, measures your business's capacity to take on new projects while covering all operating expenses. It's like a litmus test of your firm's operational efficiency. By subtracting your operating expenses from your net revenue, you get a clear picture of how much profit you're generating from your core operations. 

Now, here comes the interesting part: net revenue also sheds light on your firm's relationship with subcontractors. It shows how much of your revenue goes to paying them for their services, leaving you with the revenue that your firm retains for its own services. Understanding this breakdown helps you gauge the impact of subcontracting on your profitability. 

By carefully tracking net revenue and operating income, you can make informed decisions about pricing, resource allocation, and investment opportunities. It's like having a compass that points you in the direction of profitability and growth. 

For example, if you notice that your net revenue is high, but your operating income is lagging, it could signal inefficiencies in your operations or excessive costs that need addressing. On the other hand, if your operating income is strong, but net revenue is low, it might be time to revisit your pricing strategies or explore new revenue streams. 

In a nutshell, net revenue and operating income are two sides of the same coin. Together, they provide valuable insights into your business's financial health, helping you steer it toward prosperity. 

So, pay close attention to this financial power duo. Regularly monitor their performance, set targets, and use the insights gained to fine-tune your business strategies. With net revenue and operating income on your side, you'll be well-equipped to navigate the waters of profitability and keep your AE firm thriving! 

Backlog

The backlog metric is your firm's project navigator, keeping you on course within your budget. By tracking both ongoing projects and potential wins, it provides a clear picture of your workload and budget needs. This insight helps you plan ahead, allocate resources effectively, and deliver top-notch results to your clients. Regularly keeping an eye on your backlog ensures you stay on track and sail smoothly toward success! 

Client Loyalty

For any AE firm to grow and continue to be successful, client loyalty is a necessity. It is important for both word-of-mouth referrals and repeat business. Meeting client expectations, proactively engaging in client feedback, and acting on areas that need improvement are all essential to keeping loyalty. 

Cost of New Business

When it comes to growing your AE firm, new business opportunities can lead the way. But expanding also means there are costs involved. Measuring these costs helps you choose which opportunities are worth pursuing and if the potential gains are worth the investment. Remember, calculated risks can lead to profitable growth. So, keep an eye on the cost of new business and set your company on a path of strategic expansion! 

Measuring Up the Firm

Keeping a close eye on key performance metrics is the secret sauce to your AE firm's ongoing success. We've explored some noteworthy metrics today, but there's a whole world of data waiting to be discovered. It's up to you to decide which metrics align best with your firm's goals. 

To see how your firm measures up with these KPIs and gain valuable insights into the A&E industry, we encourage you to download the latest Annual Deltek Clarity A&E Industry Study by clicking the image below. This study contains valuable information to aid your decision-making and stay ahead of the competition. 

Remember, the path to prosperity starts with data-driven decision-making. Equip your firm with the right metrics, ensure your team understands the goals, and set sail toward a brighter, more successful future! 🚀 

Are you making the most of your time and resources? Well, let me tell you about something that can really give you a boost—Deltek Vantagepoint Dashboards! Dashboards are like the superheroes of your system, but unfortunately, they often go unnoticed and underutilized. They're made up of dashparts, or widgets, which act as your gateway into the magnificent world of your Deltek system. If you're using Deltek Vantagepoint, you're in for a treat because these dashparts are incredibly diverse, offering reports, metrics, links, alerts, tips, and so much more! 

Major Benefits of Deltek Dashboards

Now, let's dive into these major benefits of Vantagepoint Dashboards that will revolutionize the way you work. 

Instant Access to Information 

Imagine waking up in the morning, opening your system, and boom! You're greeted with a dashboard that presents you with all the essential information you need for the day. Daily reports, task reminders, and alerts that require your attention are all neatly displayed, tailored to your specific role. It's like having a personal assistant who ensures you stay on track and meet your goals and objectives. Who wouldn't want that? 

Say Goodbye to Repetitive Navigation 

We've all been there—endlessly clicking through the navigation panel to find the data we need. It's a time-consuming and monotonous task that can drain your productivity. But fear not! Vantagepoint Dashboards are here to rescue you from this clicking madness. By utilizing dashboard components, you can create shortcuts to reports, URLs, records, and more, reducing your clicks to just one or two. That extra time saved allows you to focus on the things that truly matter in your work. It's like having your own teleportation device, whisking you away to the exact information you need with a single click! 

View Role-Specific Data 

We all have unique roles within our firms, and Vantagepoint Dashboards understand that. You can customize your dashboards to focus on the specific data that are relevant to your role. But wait, there's more! Deltek also offers predefined dashboard configurations that can be pushed out to you based on your role. So, if you're a project manager, you can have project budgeting, billing information, and accounts receivable invoicing right at your fingertips. With role-specific data, Deltek Vantagepoint Dashboards equip you with the tools necessary to excel in your job. It's like having a personalized command center that caters to your every need. 

Enhanced Data Visualization 

Deltek Vantagepoint Dashboards are designed to present complex data in a visually appealing and easy-to-understand format. By utilizing charts, graphs, and other visual elements, these dashboards transform raw data into meaningful insights. You can quickly grasp trends, spot anomalies, and make informed decisions without getting lost in a sea of numbers. 

Real-Time Updates 

Stay on top of your game with real-time updates provided by Vantagepoint Dashboards. No more waiting for manual reports or struggling with outdated information. Dashboards pull data directly from your database, ensuring that you have the most up-to-date information at your fingertips. This real-time access enables you to respond swiftly to changes, address issues promptly, and make agile business decisions. 

Collaboration and Transparency 

Vantagepoint Dashboards promote collaboration and transparency within your organization. You can share dashboards with team members, enabling everyone to access the same data and metrics. This fosters better communication, alignment, and teamwork across departments. Whether it's sharing project progress, financial metrics, or sales performance, dashboards facilitate a unified understanding of your firm's goals and progress. 

Customizable and Flexible 

Vantagepoint Dashboards offer a high degree of customization and flexibility. You can tailor your dashboards to suit your specific needs, preferences, and roles within the organization. Choose the metrics that matter most to you, arrange them in a way that makes sense, and create a personalized view of your data. This flexibility ensures that you have a dashboard that perfectly aligns with your workflow and helps you focus on what's important. 

Improved Efficiency and Productivity 

By centralizing relevant information and providing quick access to key metrics, Vantagepoint Dashboards significantly improve efficiency and productivity. Instead of spending time searching for data or generating reports manually, you can focus on analyzing insights, identifying areas for improvement, and taking proactive actions. Dashboards streamline your workflow, eliminate unnecessary steps, and allow you to work smarter, not harder. 

Now that you've witnessed the awesomeness of Deltek Dashboards, it's time to harness their power and boost your productivity to new heights. Regardless of your role, these dashboards offer benefits that can supercharge your workday. From instant data access to time-saving navigation and role-based setups, there's something for everyone. So, don't wait any longer—unleash the full potential of dashboards at your firm! 

Experience the Power of Deltek Vantagepoint Dashboards: Watch the Recap of Dashboard-Palooza's Electrifying Acts! 

Did you miss out on the electrifying events of the year? Don’t worry! We've got you covered. Dashboard-Palooza was a roaring success, providing attendees with valuable insights and actionable takeaways. It showcased the true power of Deltek Vantagepoint Dashboards, empowering collaboration, and efficiency for A&E firms. Whether you're a project manager, a finance or project accounting wizard, or a sales and marketing maestro, these dashboards are designed to help you thrive in your respective domains. Watch all of the Dashboard-Palooza acts by clicking the image below. 

We are excited to introduce you to a game-changing tool that will transform the way project managers review their project financials. Say hello to Informer's Resource Planning Dashboard - a cutting-edge business intelligence tool tailored specifically for project managers, offering instant visibility into your project's performance and empowering you to make well-informed decisions for ultimate success. 

You might be wondering, "What exactly is this Resource Planning Dashboard, and how can it benefit my projects?" Well, let’s dive in and see how. 

Estimate at Completion (EAC) and Revenue Projections

Imagine a project manager, let's call her Lisa, who has been assigned to lead a critical project for her company. Lisa is aware that managing project finances is crucial, but due to various reasons, she neglects to use the EAC and Revenue Projections feature in Informer's Resource Planning Dashboard. 

As the project progresses, Lisa faces challenges in accurately tracking and controlling costs. She relies on outdated spreadsheets and manual calculations, leading to errors and inconsistencies in her financial estimates. Without a clear view of the project's estimated completion costs, Lisa struggles to make well-informed decisions regarding budget allocation and resource management. 

However, with Informer's Resource Planning Dashboard, Lisa gets a comprehensive view of her project's estimated completion costs (EAC). This vital information allows her to accurately assess her project's financial health, giving her and your firm confidence in your financial decision-making.  

Informer's Resource Planning Dashboard presents a comprehensive view of your project's estimated completion costs (EAC). This vital information allows you to accurately assess your initiative's financial health, giving you confidence in your financial decision-making. Additionally, the dashboard offers detailed revenue projections, enabling you to forecast your project's income and engage in strategic financial planning. When you have the numbers at your fingertips, financial management becomes a breeze! 

Accounts Receivable (AR) Monitoring 

Now let’s meet John, a project manager leading a crucial infrastructure design project for an engineering firm. Despite being aware of the importance of cash flow management, John fails to use Informer's Resource Planning Dashboard for AR Monitoring. As the project progresses, John faces challenges in keeping track of outstanding payments from clients and subconsultants. 

Without real-time updates on accounts receivable, John is unaware of delayed payments and overdue invoices. This lack of visibility leads to cash flow issues, affecting the project's ability to fund ongoing activities and purchase essential resources. The project falls behind schedule due to the delayed availability of funds, leading to frustrated team members and increased project costs. 

Furthermore, John's inability to proactively optimize the financial situation results in missed opportunities to negotiate payment terms with clients and subconsultants. As a consequence, the project's profitability is compromised, and the firm faces increased financial risks. The cash flow problems escalate, and the project struggles to meet its financial obligations, eventually putting the entire project at risk of failure. 

In this unfortunate scenario, John's failure to leverage Informer's Resource Planning Dashboard for AR Monitoring significantly impacts the project's success. Proper utilization of this feature could have provided him with real-time insights into accounts receivable, enabling proactive cash flow management and ensuring a healthy bottom line for the project. 

Effective cash flow management is the lifeblood of any successful project. With Informer's Resource Planning Dashboard, you receive real-time updates on accounts receivable, making it easy to track outstanding payments effortlessly. By staying on top of your cash flow, you can proactively optimize your financial situation and ensure a healthy bottom line for your projects. This feature alone can help you navigate through financial challenges like a pro! 

Resource Optimization 

Imagine Sarah, a project manager leading a critical project for her company. Despite being aware of the importance of resource optimization, Sarah fails to utilize the Resource Planning Dashboard effectively. As the project progresses, Sarah struggles to identify top-performing team members and allocate resources strategically. 

Due to the lack of actionable insights into her project team, Sarah faces challenges in maximizing productivity. She might unknowingly assign tasks to underperforming or overwhelmed team members, leading to delays and compromised project quality. As a result, the project timeline extends beyond the initial projections, causing frustration among clients and eroding their confidence in the project's success. 

Moreover, without the necessary information to optimize resources, Sarah's project team experiences burnout and low morale. The lack of recognition for high-performing individuals, coupled with the inefficient allocation of resources, creates a sense of disengagement within the team. 

The consequences of poor resource optimization are severe. The project incurs additional costs due to inefficiencies and missed deadlines. Clients become dissatisfied with the project's progress and may consider terminating the contract, impacting the company's reputation and future business opportunities. 

In this unfortunate scenario, Sarah's failure to leverage the Resource Planning Dashboard for Resource Optimization significantly impacts the project's success. Proper utilization of this feature could have empowered Sarah to identify top performers, allocate resources efficiently, and unlock her team's full potential. The project would have progressed smoothly, meeting deadlines, and delighting stakeholders with successful outcomes. 

The Resource Planning Dashboard provides actionable insights into your project team members, helping you identify top-performing resources. Armed with this knowledge, you can strategically allocate resources, maximize productivity, and enhance overall project execution. It's like having a secret weapon to unlock your team's full potential! 

Empower Your Project Managers with Informer’s Resource Planning Dashboard 

Informer's Resource Planning Dashboard is designed to simplify project management and empower you with the tools you need for unparalleled success. From financial insights to resource optimization, this dashboard covers all the bases, ensuring that your projects are on the path to greatness.  

Are you excited to take your project management game to new heights? Let's embrace the power of Informer's Resource Planning Dashboard and watch the short demonstration by clicking below. Happy planning! 

This summer, we hosted Dashboard-Palooza, a virtual mini-demo series that highlighted the enhanced dashboard functionality of Deltek Vantagepoint. These demonstrations showcased how these powerful dashboards can revolutionize collaboration and efficiency for A&E firms. Our experts took center stage and provided actionable insights to project managers, finance and project accounting teams, as well as sales and marketing professionals, helping them drive their success. Let's recap the highlights from each mini demo. 

Project Management Oversight in Deltek Vantagepoint Dashboards 

Traditionally, project performance is measured monthly after time and billing has been processed. This leaves a gap in time where many issues could have been detected and addressed. What’s more, is that users must read every line in a report to understand what is important. 

In our opening act, Rana Blair, our rockstar expert, demonstrated how Deltek Vantagepoint's Project Management Oversight Dashboards can empower project managers to gain valuable insights and streamline their workflows. These dashboards offer visibility into key metrics such as budget, schedule, and resource allocation, enabling proactive steps to keep projects on track. Rana showcased her favorite dashboards and dashparts as summarized below. 

My Team's Project Overview Dashboard 

Project team leaders, principals, and directors can gain quick insight into their team’s performance even when they are busy with other competing priorities like business development, management meetings, issues to respond to, and several projects to monitor performance for. This dashboard makes it easy to see project performance for their team. It’s designed to identify when something is out of tune. 

My Project Performance Dashboard 

An individual project manager needs a bit more detail. Reports can provide a lot of facts and figures but may be difficult to interpret what it all means. A dashboard like the My Project Performance Dashboard provides basic visual information about the state of the projects, lets the project manager quickly see where projects might be going sideways and offers the ability to jump to the issue to dig in further. 

Keeping the users in your Deltek Vantagepoint system with the data increases the likelihood that they will see and address issues in a timely manner. 

My Project Percent Complete Entry from Dashboards 

The interactivity of Dashparts is increasing with every release of Deltek Vantagepoint. Most dashparts can be built with drill down capability and the ability to jump from the dashpart to the specific record for a closer look.  

The Project Percent Complete Dashboard is no different. This includes a simple project list on the right-hand side. Users can click on the contact’s name, for example, to bring up the contact information to quickly send an email or make a phone call. This dashboard also includes one of the most popular interactive dashparts, Percent Complete Entry. Users can update the weighted percent complete for their projects. It’s never been easier to update percent completes! 

Click here to watch the opening act of the Dashboard-Palooza to quickly oversee and manage your project performance. 

Finance & Project Accounting Oversight in Deltek Vantagepoint Dashboards 

Theresa DePew took the stage for the second act of Dashboard-Palooza, where she showcased the Finance & Project Accounting Oversight Dashboards of Deltek Vantagepoint. With these dashboards, finance, and project accounting professionals can stay on top of critical metrics like revenue, expenses, and profitability. Theresa's mini-demo empowered attendees to make informed decisions and manage finances and projects like pros. Just a few of the dashboards are summarized below. Watch the entire second act by clicking here. 

Finance Dashboard 

This dashboard provides a snapshot of the firm financials. We’ve built this dashboard to include Profit & Loss Accounts Last 3 Months, AR Unpaid Detail, and Receipts -This Month dashparts. 

Billing Review Dashboard 

This billing review dashboard provides an at-a-glance view of your firm’s unbilled and accounts receivable. You’ll notice that this is a project-based dashboard that allows you to add a filter at the top of the dashboard which filters the data for the entire dashboard not just a dashpart. This filter uses the same project records saved searches that you would find in the Projects hub. 

Draft Invoice Approvals and Unbilled for Project Managers’ Dashboard 

A&E firms need to bill clients in a timely manner to have a steady cash flow to run their firms. That’s why keeping track of invoice approvals and those projects that have yet to be billed is so critical. This dashboard makes it easy for project managers, principals, and accounting teams to quickly see and manage the invoice process. Best of all, this is an out-of-the-box dashboard that comes built for you with Deltek Vantagepoint. 

Project Financials Dashboard 

This dashboard was created by one of the Full Sail Partners’ consultants. The “Billed Amount by Target Sectors” shows you how much has been billed by Project Type (or market sector). This dashboard also contains “YTD Billings and Revenue” and “Project + Linked Promo Cost” dashparts. 

If you would like to see these dashboards in more detail, check out Theresa’s mini-demo here. 

Marketing & Sales Oversight in Deltek Vantagepoint Dashboards 

In the final act of Dashboard-Palooza, Amanda Roussel took us on a journey through the Marketing & Sales Oversight Dashboards of Deltek Vantagepoint. Attendees discovered how these dashboards can help teams identify opportunities, optimize strategies, and drive revenue growth. Amanda's featured dashboards and dashparts included: 

Firms’ Sales & Marketing Dashboard 

This informative dashboard offers valuable insights and customization options for showcasing marketing stats and individual performance metrics. It includes a Pursuit Count chart displaying pursuits at different stages, with estimated and weighted fees. The dashboard also features a Proposals Submitted This Year section, a Year-to-Date Projects Awarded overview, a comprehensive Sales Pipeline view, and a Client Activity Status report. With visual representations, filtering options, and color-coded indicators, this dashboard empowers A&E firms to optimize marketing strategies, track progress, and nurture client relationships effectively. 

My Active & Upcoming Proposals Dashboard 

This next Dashboard in Deltek Vantagepoint focuses on personal involvement within pursuits. The "My Pursuits by Stage" chart provides a filtered view, displaying stages from lead to contract management, along with estimated and weighted fees. The "My Active Pursuits" table, specific to the Business Development Lead, offers insights into upcoming proposal due dates and enables sorting and filtering. The "My Activities" dashpart allows for efficient task management, with toggles for timeframes, completion markers, and notes. The "My Sales Awarded YTD" tracks estimated fees for awarded projects. Lastly, the "My Pursuits + Linked Promo Cost" dashpart showcases promotional project details, including linked promotional costs, hours, and a visual indicator for high percentage charges. 

Firm Hit Rate Performance Dashboard 

The Firm Hit Rate Performance Dashboard in Deltek Vantagepoint provides an overview of the firm's success rate. The "Firmwide Hit Rate YTD" chart calculates hit rates based on estimated fees, presenting the percentage of awarded versus lost projects. The "Hit Rate by Project Type YTD" breaks down hit rates by project categories, displaying wins versus losses and estimated fee amounts. Additionally, the dashboard offers insights into the reasons for winning and losing projects in the last quarter, represented by pie charts based on project count. The "Pursuits Won & Lost Last Quarter" section on the right-hand side provides a summary of the firm's performance in terms of pursuits won and lost. 

By leveraging Deltek Vantagepoint's Marketing & Sales Oversight Dashboards, A&E firms can unlock the power of data-driven decision-making, ultimately achieving remarkable sales and marketing results. To see all of these in more detail, check the final act of this series. 

Experience the Power of Deltek Vantagepoint Dashboards: Watch the Recap of Dashboard-Palooza's Electrifying Acts! 

Dashboard-Palooza was a tremendous success, providing attendees with valuable insights and actionable takeaways. Deltek Vantagepoint Dashboards empower collaboration and efficiency for A&E firms, enabling project managers, finance and project accounting teams, and sales and marketing professionals to thrive in their respective domains. Click the image below to watch each act in the show. 

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.